Substantial Destruction definition

Substantial Destruction means a structure which is damaged, whether voluntarily or involuntarily, to the extent that repairs to restore the structure to its original form and use would require the expenditure of 50 percent or more of the market value of the structure immediately before the time of the damage.

Substantial Destruction means the damage or destruction of the Building by any casualty to the extent that repair of such damage or destruction cannot be completed within one hundred eighty (180) days after the date of such damage or destruction, as reasonably determined by Landlord.

Substantial Destruction means the occurrence of any damage or destruction of the Property where the Estimated Cost of Restoration is 75% or more of the estimated Restored Value of the Property. “Partial Destruction” means the occurrence of any damage or destruction to the Property which is not a Substantial Destruction.

Examples of Substantial Destruction in a sentence

• Substantial Destruction means damage or destruction to Tenant Improvements in an amount equal to thirty percent (30%) or more of their replacement cost, as reasonably determined by Tenant.

• In the event any or all of the District improvements located in or on the Leased Premises shall suffer either Partial or Substantial Destruction at any time during the Term hereof, the Rent due to be paid by Lessee shall be paid to the date of such destruction and shall then be abated to the extent that the Leased Premises are untenantable, so that Lessee shall only be obligated to pay Rent on those portions of the Leased Premises that are tenantable.

• Unless Restoration is accomplished as set forth above, the Project shall be sold in the event of Substantial Destruction, Substantial Condemnation, or Substantial Obsolescence.

• Whether there is a threshold of physical activity to improve health and prognosis is still controversial although several studies have shown that any physical activity may improve prognosis.

• If the Leased Premises should be totally destroyed by fire or other casualty, or if the Leased Premises should be damaged so that rebuilding, in Landlord’s estimation, cannot be completed within one hundred eighty (180) days after the date of written notification by Tenant to Landlord of the destruction, this Lease shall terminate and the Base Rent shall be abated for the unexpired portion of the Term, effective as of the date of Substantial Destruction.

More Definitions of Substantial Destruction

Substantial Destruction means to remove more than 60 percent of the existing exterior walls of a building or structure, as measured by the horizontal linear length of all exterior walls. Any partial removal of existing wall shall count towards the measurement of horizontal linear length the same as if the entire wall within that horizontal linear length was removed, except partial removal shall not include replacement of windows or doors when no beams or struts are removed. Walls shall include all structural components such as framing and foundations but shall not include the floor or roof and such wall components as insulation, or finish elements or surfaces (e.g., drywall or exterior paneling and siding).

Substantial Destruction. Any damage or destruction to the Premises or the Building which Lessor is not obligated to repair pursuant to Subparagraph 20(a) above will be deemed a substantial destruction. In the event of a substantial destruction, Lessor may elect to either: (i) repair, reconstruct and restore the portion of the Building or the Premises damaged by such casualty, in which case this Lease will continue in full force and effect, subject to Lessee's termination right contained in Subparagraph 20(d) below; or (ii) a notice from Lessor's insurance company that there is funds to

Substantial Destruction as used herein, shall be deemed to mean a destruction of improvements to such an extent that the then current estimated total costs of restoring the destroyed improvements to as good a condition of habitability and/or usability (for those certain uses herein authorized and intended therefore) as existed immediately prior to the occurrence of any such destruction shall exceed fifteen percent (15%) of the then current estimated total replacement costs of all of the improvements on the Leased Premises (excluding land and personal properties).

Substantial Destruction means a Casualty which shall require repairs to or restoration of the Premises, the estimated cost of which shall exceed One Hundred Thousand and 00/100 ($100,000.00) dollars. In case of any dispute as to the estimated cost of repairs to or restoration of any Casualty, such dispute shall be determined by a reputable contractor selected by Seller and approved by Purchaser (which approval Purchaser agrees not to unreasonably withhold or delay) whose estimate of such cost shall be incorporated in a bid irrevocable for a period of thirty (30) days and shall be binding upon Seller and Purchaser and the Closing Date shall be adjourned until such cost is determined.

Substantial Destruction means a Casualty which shall require repairs to or restoration of the Premises, the estimated cost of which shall exceed Six Million and 00/100 ($6,000,000.00)

Substantial Destruction means a destruction of Insured Improvements representing at least seventy-five percent (75%) of the current replacement cost value of all Insured Improvements upon the Covered Property.

Substantial Destruction means any event of damage to or destruction of the Building (or of either of the buildings on Parcel A) which, in the opinion of the Architect, or an insurance adjustor or quantity surveyor qualified to practice in the Province of British Columbia and engaged by Lessee or by any Mortgagee or by any insurer of the Building, would require the repair or reconstruction of at least 50% of one of the Buildings;