Common use of Destruction by Fire or Other Casualty Clause in Contracts

Destruction by Fire or Other Casualty. If Improvements erected on the Project Site shall be destroyed or so damaged by fire or any other casualty whatsoever, not due to the willful misconduct of the Tenant, where repair or restoration cannot be reasonably accomplished within one hundred and twenty (120) days of the date of such fire or casualty, the Tenant, by written notice to the District accompanied by a certified copy of a resolution of the Board of Directors of the Tenant to such effect, may, at its election, decide not to restore nor reconstruct the Improvements and may cancel this Ground Lease. In the event that the Tenant so decides not to restore or reconstruct the Improvements and cancel this Ground Lease, the Tenant shall notify the District thereof in writing and shall proceed with due diligence to demolish and remove any ruins or rubble remaining on the Project Site at the Tenant’s sole cost and expense, so as to return the Project Site as nearly as reasonably practicable to the condition thereof at the date of the Ground Lease. Any such cancellation of this Ground Lease shall be effective as of the date the Tenant completes such demolition and removal work, and all unaccrued liability of the Tenant hereunder shall thereupon terminate.

Destruction by Fire or Other Casualty. If Improvements erected on the Project Site shall be destroyed or so damaged by fire or any other casualty whatsoever, not due to the willful misconduct of the Tenant, where repair or restoration cannot be reasonably accomplished within one hundred and twenty (120) days of the date of such fire or casualty, the Tenant, by written notice to the District accompanied by a certified copy of a resolution of the Board of Directors Managers of the Tenant to such effect, may, at its election, decide not to restore nor reconstruct the Improvements and may cancel this Ground Lease. In the event that the Tenant so decides not to restore or reconstruct the destroyed or damaged Improvements and cancel this Ground Lease, the Tenant shall notify the District thereof in writing and shall proceed with due diligence to demolish and remove any ruins or rubble from the destroyed or damaged Improvements remaining on the Project Site at the Tenant’s sole cost and expense, so as to return the portion of the Project Site on which the destroyed or damaged Improvements were situated as nearly as reasonably practicable to the condition thereof at the date of the Ground Lease. Any such cancellation of this Ground Lease shall be effective as of the date the Tenant completes such demolition and removal work, and all unaccrued liability of the Tenant hereunder shall thereupon terminate.

Destruction by Fire or Other Casualty. If Improvements erected on the Project Site shall be destroyed or so damaged by fire or any other casualty whatsoever, not due to the willful misconduct of the Tenant, where repair or restoration cannot be reasonably accomplished within one hundred and twenty (120) days of the date of such fire or casualty, the Tenant, by written notice to the District accompanied by a certified copy of a resolution of the Board of Directors Managers of the Tenant to such effect, may, at its election, decide not to restore nor reconstruct the Improvements and may cancel this Ground Lease. In the event that the Tenant so decides not to restore or reconstruct the destroyed or damaged Improvements and cancel this Ground Lease, the Tenant shall notify the District thereof in writing and shall proceed with due diligence to demolish and remove any ruins or rubble from the destroyed or damaged Improvements remaining on the Project Site at the Tenant’s 's sole cost and expense, so as to return the portion of the Project Site on which the destroyed or damaged Improvements were situated as nearly as reasonably practicable to the condition thereof at the date of the Ground Lease. Any such cancellation of this Ground Lease shall be effective as of the date the Tenant completes such demolition and removal work, and all unaccrued liability of the Tenant hereunder shall thereupon terminate.

Destruction by Fire or Other Casualty. If Tenant Improvements erected on the Project Site shall be destroyed or so damaged by fire or any other casualty whatsoever, not due to the willful misconduct of the Tenant, where repair or restoration cannot be reasonably accomplished within one hundred and twenty (120) days of the date of such fire or casualty, the Tenant, by written notice to the District accompanied by a certified copy of a resolution of the Board of Directors of the Tenant to such effect, may, at its election, decide not to restore nor reconstruct the Tenant Improvements and may cancel this Ground Lease. In the event that the Tenant so decides not to restore or reconstruct the Tenant Improvements and cancel this Ground Lease, the Tenant shall notify the District thereof in writing and shall proceed with due diligence to demolish and remove any ruins or rubble remaining on the Project Site at the Tenant’s 's sole cost and expense, so as to return the Project Site as nearly as reasonably practicable to the condition thereof at the date upon completion of the Ground LeaseDistrict Improvements. Any such cancellation of this Ground Lease shall be effective as of the date the Tenant completes such demolition and removal work, and all unaccrued liability of the Tenant hereunder shall thereupon terminate.