Total or Substantial Destruction. If the Premises are totally or substantially destroyed by any cause whatsoever, or if the Building is substantially destroyed (even though the Premises are not totally or substantially destroyed), this Lease shall, at the election of the Landlord, terminate as of the date the destruction occurred (the “Date of Destruction”) regardless of whether Landlord receives any insurance proceeds.
Appears in 2 contracts
Samples: Lease Agreement, Industrial Real Estate Triple Net Lease (Pacira Pharmaceuticals, Inc.)
Total or Substantial Destruction. If the Leased Premises are or Property is totally or substantially destroyed by any cause whatsoever, or if the Building is substantially destroyed (even though the Leased Premises are or Property is not totally or substantially destroyed), at Landlord's option this Lease shall, at the election of the Landlord, shall terminate as of the date the destruction occurred (the “Date of Destruction”) regardless of whether Landlord receives any insurance proceeds. Landlord shall notify Tenant of such election within thirty (30) days after the occurrence of such total or substantial destruction.
Appears in 2 contracts
Samples: Warehouse Space Lease Agreement (Excal Enterprises Inc), Warehouse Lease Agreement (Excal Enterprises Inc)
Total or Substantial Destruction. If the Premises are totally or substantially destroyed by any cause whatsoever, or if the Building is substantially destroyed (even though the Premises are not totally or substantially destroyed), this Lease shall, at the election of the Landlord, terminate as of the date the destruction occurred (the “Date of Destruction”) regardless of whether Landlord receives any insurance proceeds.
Appears in 1 contract
Samples: Industrial Real Estate Lease (Pacira Pharmaceuticals, Inc.)
