Common use of Casualty Near End of Term Clause in Contracts

Casualty Near End of Term. If a Casualty makes eighty percent (80%) or more of the Premises untenantable during the last six (6) months of the Term, Landlord or Tenant may terminate this Lease if it notifies the other party within ninety (90) days after such Casualty and specifies an effective date, not less than twenty (20) days nor more than forty (40) days after it notifies the other party, on which date the Term will expire as fully and completely as if such date were the date originally fixed for the Term to end. If either Landlord or Tenant terminates this Lease pursuant to this Section 17.4, Base Rent will be apportioned as of the date of such Casualty.