Substantially damaged or destroyed definition
Substantially damaged or destroyed means the structure sustains physical damage amounting to more than 50 percent of its full cash value immediately prior to the damage.
Substantially damaged or destroyed means property
Substantially damaged or destroyed means serious damage or destruction rendering unusable 33% or more of the rentable square feet of the Premises, the Food Court Common Area and/or the total square footage of the Building. On such termination, Tenant shall pay to Landlord all Base Rent, Rent and other sums and charges payable by Tenant hereunder and accrued through such date (as justly apportioned to the date of such termination). If Landlord does not terminate this Lease pursuant to this Section 15.1, Landlord shall restore the Building and/or Premises as soon thereafter as is reasonably possible, but not longer than 90 days, to their condition on the date of completion of Landlord's Work, taking into account any delay experienced by Landlord in recovering the proceeds of any insurance policy payable on account of such damage or destruction and in obtaining any necessary permits and, failing such, Tenant may terminate this Lease. Until the Premises are so repaired, the Base Rent (and each installment thereof) and the Rent shall ▇▇▇▇▇ in proportion to the floor area or essential operating area of so much, if any, of the Premises as is rendered substantially unusable by Tenant by such damage or destruction.
More Definitions of Substantially damaged or destroyed
Substantially damaged or destroyed means property where improvements sustain physical damage amounting to more than 50 percent of either the land’s or the improvement’s full cash value immediately prior to the disaster. Damage includes a diminution in the value of property as a result of restricted access to the property where the restricted access was caused by the disaster and is permanent in nature.
Substantially damaged or destroyed means damage or destruction the repair or replacement of which equals or exceeds 25% of the Purchase Price for the Property as determined by a licensed general contractor approved by Buyer and Seller. If prior to the Closing Date, the Property sustains nonmaterial damage, this Agreement shall remain in full force and effect and Seller shall assign its rights to insurance proceeds, if any, as provided for in Section 11(a)(iii) below.
Substantially damaged or destroyed shall have the meaning set forth in Section 11(a)(i) hereof.
Substantially damaged or destroyed means any Casualty resulting in the loss of use of fifty percent (50%) or more of the Units at the Facility located on the relevant Leased Property or that would cost more than fifty percent (50%) of the value of the Leased Improvements to restore.
Substantially damaged or destroyed means property that
Substantially damaged or destroyed means that the improvement must sustain physical damage amounting to more than 50 percent of the improvement’s (structure) full cash value immediately prior to the disaster as determined by the Assessor. “Comparable in size and
Substantially damaged or destroyed means that the improvement must sustain physical damage amounting to more than 50 percent of the