Major Damage or Destruction. Should the Premises or the larger Consolidated Rental Car Facility of which said Premises are a part be completely destroyed by fire or other casualty, or should they be damaged to such an extent that the damage cannot be repaired within four (4) weeks of the occurrence, the Port shall have the option to terminate this Lease Agreement on thirty (30) days notice, effective as of any date not more than sixty (60) days after the occurrence. In the event that this Section 20.2 shall become applicable, the Port shall advise Operator within thirty (30) days after the occurrence of any such damage whether the Port has elected to continue the Lease Agreement in effect or to terminate it. If the Port shall elect to continue this Lease Agreement in effect, it shall commence and prosecute with due diligence any work necessary to restore or repair the Premises (other than furniture, fixtures and equipment owned by Operator pursuant to Section 13.4). If the Port fails to notify Operator of its election within said thirty (30) day period, the Port shall be deemed to have elected to continue this Lease Agreement. For the period from the occurrence of any damage to the Premises to the date of completion of the repairs to the Premises (or to the date of termination of the Lease Agreement if the Port elects not to restore the Premises), the Land Rent and Minimum Annual Guarantee shall be abated in the same proportion that the untenantable portion of the Premise bears to the whole thereof. In addition, the Port shall be responsible for a reasonable share of the Utilities Costs otherwise payable for the Common Use Area to account for the amounts consumed in the completion of the repairs.
Major Damage or Destruction. If the Park is destroyed or damaged to a point that it is no longer usable, MUSC shall be required to replace the Park and any Site Improvements at its own expense.
Major Damage or Destruction. If all or part of the Property is substantially damaged or destroyed to the extent that, in the Licensor’s opinion, it cannot be rebuilt or repaired within ten (10) days or the Premises cannot be used for the Permitted Use, the Licensor shall have the right to terminate this Agreement on ten (10) days prior written notice to the Licensee.
Major Damage or Destruction. Damage or destruction at the Business Property for which repair costs are estimated to exceed $250,000.
Major Damage or Destruction. If, at any time during the primary or any renewal term of this Lease, the Leased Premises or any part thereof are partially or totally destroyed by fire or other casualty and the same cannot reasonably be repaired or restored within one hundred twenty (120) days from the occurrence of such damage, then the Lessor and the Lessee shall each have the option to terminate and cancel this Lease effective the date of such casualty by giving written notice of such cancellation to the other party within thirty (30) days after the happening of such damage. In the event neither party so elects to terminate this Lease, then such repairs will be made with due diligence by and at the cost of the Lessor to at least as good as condition as existed prior to such damage or destruction.
