Destruction of Property. A. If flood, fire, storm, mold, other environmental hazards that pose a risk to the occupants health, other casualty or Act of God shall destroy (or so substantially damage as to be uninhabitable) Premises, rent shall xxxxx from the date of such destruction. Landlord or Tenant may, by written notice, within 30 (thirty) days of such destruction, terminate this Lease, whereupon rent and all other obligations hereunder shall be adjusted between the parties as of the date of such destruction.
Destruction of Property. If, on or before the Effective Date, any substantial portion of the fixed assets of any of the parties hereto shall suffer a loss of fire, flood, tornado, hurricane, riot, accident or other calamity, whether or not insured, to such an extent that in the opinion of EGPI there will be such a delay in repairing or replacing said assets so as to materially affect the future operations of any such party, then the other parties hereto may, at their sole option, terminate this Agreement without cost, expense, or liability to any party.
Destruction of Property. If at any time during the term of this lease, the premises or any part of the building or parcel shall be damaged or destroyed by fire in such a way as not to render the same unfit for the conduct of Tenant business or so as not to injure Tenant business, then Landlord shall promptly and through the exercise of reasonable diligence repair and restore such damage, at Landlord expense, to the condition in which they existed immediately prior to the damage or destruction. In such case there shall be no abatement of rent.
Destruction of Property. If the Property is destroyed or materially damaged (other than by Buyer’s act or omission or the act or omission of third parties performing work at the Property on behalf of or at the request of Buyer) prior to the Close Date, and has not been restored or rebuilt prior to Close Date, then, on written demand by Seller or Buyer, all of Buyer’s deposits shall be returned to Buyer in full within fifteen (15) days after the date of such demand, and the parties shall have no further rights or obligations under this Agreement except Buyer’s obligation to return documents or to indemnify Seller as provided herein.
Destruction of Property. If any of the Assets shall be substantially damaged or destroyed by fire or other cause prior to Closing, Seller shall immediately notify Buyer and furnish Buyer a written statement of the amount of insurance, if any, payable on account thereof. In the event of such damage or destruction, Buyer may elect (i) to require that Seller restore the Intellectual Property to the condition on the date of this Agreement or (ii) to declare this Agreement null and void.
Destruction of Property. A. If earthquake, fire, storm, or other casualty shall totally destroy (or so substantially damage as to be untenable) Property, rent shall xxxxx from the date of such destruction. Landlord shall have sixty (60) days to commence the restoration of Property to a tenable condition. If in Landlord’s sole discretion restoration cannot be completed within 180 days following such destruction, Landlord may, by written notice furnished to Tenant within thirty (30) days of such destruction, terminate this Lease, whereupon rent and all other obligations hereunder shall be adjusted between the parties as of date of such destruction. In the event the Landlord elects to complete such restoration, but fails to do so within 180 days following such destruction, this Lease may be terminated as of the date of such destruction upon written notice from either party to the other given not more than ten (10) days following expiration of said 180 day period. If such notice is not given, then this Lease shall remain in force and rent shall commence upon delivery of Property to Tenant in a tenable condition.
Destruction of Property a. If Licensee’s property or the Premises are destroyed or damaged so as, in Licensee’s judgment, to hinder the effective use of Licensee’s equipment, Licensee may elect to terminate the License as of the date of the damage or destruction by so notifying licensor in writing not more than forty-five (45) days following the date of the damage. In such event, all rights and obligations of the parties shall cease as of the date of the damage ore destruction and Licensee shall be entitled to the reimbursement of any License Fee prepaid by Licensee.
Destruction of Property. 176 (A) Tenant will notify Landlord, maintenance or emergency contact (See Paragraph 3) immediately if the Property is severely damaged 177 or destroyed by fire or by any other cause. Tenant will immediately notify Landlord, maintenance or emergency contact (See Para 178 graph3) of any condition in the Property that could severely damage or destroy the Property. 179 (B) If Tenant, their family or guests cause damage by fire or by other means, this Lease will remain in effect and Tenant will continue 180 to pay rent, even if Tenant cannot occupy the Property. 181 (C) If the Property is severely damaged or destroyed for any reason that is not the fault of Tenant:
Destruction of Property. If the Property is rendered totally unfit for occupancy by fire, tempest, or other act of God, or by the acts of rioters or public enemies, or other unavoidable accident, the tenancy hereby created from the Lease shall immediately cease upon the payment of the rent apportioned to the time of such happening. If, however, the Property is only partially destroyed or damaged and Landlord decides to repair the damage, then such repairs shall be made by Landlord without unreasonable delay, Rent shall not xxxxx, and this Lease shall remain in full force and effect.