Common use of Destruction of the Premises Clause in Contracts

Destruction of the Premises. If the Building is totally destroyed by fire or any other cause, this Agreement, at the option of LESSEE, shall terminate. If a loss renders any portion of the Premises unusable, LESSEE may choose to remain or may terminate this Agreement by written notice to SBCAG. Should LESSEE choose to remain, SBCAG shall, as reasonably possible, promptly repair the Premises within ninety (90) days of the casualty. If XXXXXX chooses to remain in possession of the Premises despite partial destruction, the rent provided in this Agreement shall be reduced by the same percentage that usable floor space has been reduced until the destroyed section is rebuilt to its condition prior to the casualty.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

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Destruction of the Premises. If the Building is totally destroyed by fire or any other cause, this Agreement, at the option of LESSEESBCAG, shall terminate. If a loss renders any portion of the Premises unusable, LESSEE SBCAG may choose to remain or may terminate this Agreement by written notice to SBCAGCOUNTY. Should LESSEE SBCAG choose to remain, SBCAG shall, as reasonably possible, COUNTY shall promptly repair the Premises within ninety (90) days of the casualty. If XXXXXX SBCAG chooses to remain in possession of the Premises despite partial destruction, the rent provided in this Agreement shall be reduced by the same percentage that usable floor space has been reduced until the destroyed section is rebuilt to its condition prior to the casualty.

Appears in 1 contract

Samples: Lease Agreement

Destruction of the Premises. If the Building is Premises are totally destroyed by fire or any other cause, this Agreement, at the option of LESSEE, shall terminate. If a loss renders any portion of the Premises unusable, LESSEE may choose to remain or may terminate this Agreement by written notice to SBCAGLESSOR. Should LESSEE choose to remainremain in possession after such loss, SBCAG shall, as reasonably possible, LESSOR shall promptly repair the Premises within ninety (90) days of the casualty. If XXXXXX LESSEE chooses to remain in possession of the Premises despite partial destruction, the rent provided in this Agreement shall be reduced by the same percentage that usable floor space has been reduced until the destroyed section is rebuilt to its condition prior to the casualty.

Appears in 1 contract

Samples: Lease Agreement

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Destruction of the Premises. If the Building is totally destroyed by fire or any other cause, this Agreement, at the option of LESSEE, shall terminate. If a loss renders any portion of the Premises unusable, LESSEE may choose to remain or may terminate this Agreement by written notice to SBCAG. Should LESSEE choose to remain, SBCAG shall, as reasonably possible, promptly repair the Premises within ninety (90) days of the casualty. If XXXXXX LESSEE chooses to remain in possession of the Premises despite partial destruction, the rent provided in this Agreement shall be reduced by the same percentage that usable floor space has been reduced until the destroyed section is rebuilt to its condition prior to the casualty.

Appears in 1 contract

Samples: Lease Agreement

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