TERMINATION OR CONSTRUCTION Sample Clauses

TERMINATION OR CONSTRUCTION. If the Hotel suffers minor damage by fire or other casualty, Licensee will promptly perform whatever Construction is reasonably necessary to bring the Hotel in compliance with this Agreement. If the Hotel is destroyed or substantially damaged so that the damage cannot be repaired within eighteen (18) months of the date the damage occurred, either Licensee or Licensor, may terminate this Agreement by notice given to the other within forty-five (45) days of the date of the damage or destruction. Such termination is without liability for damages related to premature termination. 33 If either party elects to terminate, all fees and other amounts due or accrued through the cessation of operation shall be paid (i) within thirty (30) days of the date of cessation if the notice is given before the cessation, or (ii) at the time notice is given if the cessation has already occurred.