Major accidents Clause Samples

Major accidents. 16.1. If the House or its main part is damaged at any time during the leasing period due to a fire or other major accident caused by a third party other than Party B, resulting in the entire or main part of the House being completely unusable, Party A shall notify Party B of the estimated time required to repair the House within [10] days or such other reasonable period as may be necessary for the evaluation after the occurrence of such damage. If the repair time is expected to exceed 3 months, either Party A or Party B may choose to terminate this Contract by written notice to the other party within 30 days after Party A sends the aforementioned notice. If neither party chooses to terminate this Contract or Party A expects that the repair time will not exceed 3 months, depending on receiving sufficient insurance compensation, Party A shall promptly repair the House (except for the part of Party B's renovation, commercial facilities, or Party A's renovation that is paid by Party B). The performance of Party A's aforementioned repair obligation may be delayed due to the collection of insurance compensation or force majeure events. In the event of continued performance of this contract, Party B shall bear the cost of repairing the part of Party B's renovation, commercial facilities, and Party A's renovation that is paid by Party B, and immediately enter the House again after the repair and start business in accordance with the provisions of this Contract. The performance of Party B's aforementioned obligation may be delayed due to the collection of insurance compensation or force majeure events. During the period of repairing the House, the rent and property management service fee shall be correspondingly reduced in the proportion of the area that cannot be used by Party B to the leased area. 16.2. Despite the above provisions, if the House is damaged in the last year of the leasing period and Party A reasonably expects that repairing such damage will take more than three months, either party may decide to terminate this Contract. 16.3. Unless this Contract is terminated prematurely in accordance with the provisions of this Article, if the House undergoes repairs as stipulated in this Article, the expiring date specified in this Contract shall remain unchanged and shall not be correspondingly extended due to the time spent on repairs.