Common use of Destruction of the Premises Clause in Contracts

Destruction of the Premises. In case of damage by fire or other elements so as to render the Premises herein described untenantable or as to cause a cessation of business as a result thereof, Landlord and Tenant shall immediately notify the other in writing of such damage. Rent shall cease during the time that the Premises are untenantable and shall commence again on the day following completion of the repairs. In the event the Premises cannot be repaired or rebuilt within 90 days, then either party shall have the option to terminate this Lease upon notice to the other party.

Destruction of the Premises. In case of damage by fire or other elements so as to render the Premises herein described untenantable or as to cause a cessation of business as a result thereof, Landlord and Tenant shall immediately notify the other in writing of such damage. Rent shall cease during the time that the Premises are untenantable and shall commence again on the day following completion of the repairs. In the event the Premises cannot be repaired or rebuilt within 90 ninety (90) days, then either party shall have the option to terminate this Lease upon written notice to the other partyparty delivered in accordance with Section 21.