Common use of FIRE CLAUSE Clause in Contracts

FIRE CLAUSE. If any major component of the improvements constructed by the LESSEE on the leased Premises are damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term of this Lease, or Option Term, to the extent that it is no longer reasonably appropriate for LESSEE'S use and occupancy of said premises, LESSEE shall have the option of terminating this lease upon written notice to LESSOR within thirty (30) clays of the elate the premises are rendered untenantable or commencing reconstruction, repair, or the restoration of said major component of such improvements in a reasonable, sufficient, and timely manner at LESSEE'S sole cost and expense, in which case this lease shall continue in accordance with all of its terms and conditions. Failure of LESSEE to give notice of cancellation within said thirty (30) clay period shall mean that the LESSEE exercises its option to continue the lease in force and effect.

FIRE CLAUSE. If any major component of the improvements constructed by the LESSEE on the leased Premises are damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term of this Lease, or Option Term, to the extent that it is no longer reasonably appropriate for LESSEE'S use and occupancy of said premises, LESSEE shall have the option of terminating this lease upon written notice to LESSOR within thirty (30) clays days of the elate date the premises are rendered untenantable or commencing reconstruction, repair, or the restoration of said major component of such improvements in a reasonable, sufficient, and timely manner at LESSEE'S sole cost and expense, in which case this lease shall continue in accordance with all of its terms and conditions. Failure of LESSEE to give notice of cancellation within said thirty (30) clay day period shall mean that the LESSEE exercises its option to continue the lease in force and effect.