Common use of Use of Proceeds; Major Casualty Clause in Contracts

Use of Proceeds; Major Casualty. If, at any time during the term of this Lease, (I) the Leased Premises or any part thereof shall be damaged by fire or other casualty (including any casualty for which insurance coverage was not obtained or obtainable) or any kind or nature, ordinary or extraordinary, foreseen or unforeseen, Tenant shall promptly notify Landlord, and (ii) the cost of repairing such damage shall exceed Two Hundred Fifty Thousand ($250,000) Dollars, in the aggregate, to be determined by Landlord's engineers reasonably acceptable to Tenant, per occurrence, then Tenant may terminate this Leased Premises by notice given to the Landlord within thirty-five (35) days of the date of the fire or other casualty (the "Cancellation Notice"), the time of giving such notice to be thirty (30) days following the day on which the Cancellation Notice is given (the "Cancellation Date"). In the event of a cancellation pursuant to this Paragraph 6.2, then (and not necessarily in the following order): (a) All insurance money paid or to be paid on account of such damage or destruction under the policies of insurance provided for in Paragraph 6.1 shall be disbursed to Landlord. In such event, Tenant or such other party not entitled to such insurance money shall, upon presentation of any check constituting payment of such insurance money, in whole or in part, endorse such check over to Landlord;

Use of Proceeds; Major Casualty. If, at any time during the term of this Lease, (I) the Leased Premises or any part thereof shall be damaged by fire or other casualty (including any casualty for which insurance coverage was not obtained or obtainable) or any kind or nature, ordinary or extraordinary, foreseen or unforeseen, . Tenant shall promptly notify Landlord, and (ii) the cost of repairing such damage shall exceed Two Hundred Fifty Thousand ($250,000) Dollars, in the aggregate, to be determined by Landlord's engineers reasonably acceptable to Tenant, per occurrence, then Tenant may terminate this Leased Premises by notice given to the Landlord within thirty-five (35) days of the date of the fire or other casualty (the "Cancellation Notice"), the time of giving such notice to be thirty (30) days following the day on which the Cancellation Notice is given (the "Cancellation Date"). In the event of a cancellation pursuant to this Paragraph 6.2, then (and not necessarily in the following order): (a) All insurance money paid or to be paid on account of such damage or destruction under the policies of insurance provided for in Paragraph 6.1 shall be disbursed to Landlord. In such event, Tenant or such other party not entitled to such insurance money shall, upon presentation of any check constituting payment of such insurance money, in whole or in part, endorse such check over to Landlord;

Use of Proceeds; Major Casualty. If, at any time during the term of this Lease, (I) the Leased Premises or any part thereof shall be damaged by fire or other casualty (including any casualty for which insurance coverage was not obtained or obtainable) or any kind or nature, ordinary or extraordinary, foreseen or unforeseen, Tenant shall promptly notify Landlord, and (ii) the cost of repairing such damage shall exceed Two Hundred Fifty Thousand ($250,000) Dollars, in the aggregate, to be determined by Landlord's engineers reasonably acceptable to Tenant, per occurrence, then Tenant may terminate this Leased Premises by notice given to the Landlord within thirty-five (35) days of the date of the fire or other casualty (the "Cancellation Notice"), the time of giving such notice to be thirty (30) days following the day on which the Cancellation Notice is given (the "Cancellation Date"). In the event of a cancellation pursuant to this Paragraph 6.2, then (and not necessarily in the following order):); (a) All insurance money paid or to be paid on account of such damage or destruction under the policies of insurance provided for in Paragraph 6.1 shall be disbursed to Landlord. In such event, Tenant or such other party not entitled to such insurance money shall, upon presentation of any check constituting payment of such insurance money, in whole or in part, endorse such check over to Landlord;