Procedure following destruction or damage Clause Samples

Procedure following destruction or damage. If the Building is damaged or destroyed so that the Premises are rendered substantially unfit for occupation and use or the Lessee’s Rights are substantially interfered with then the Lessor shall give a notice to the Lessee within three (3) weeks after the damage which either: (a) terminates this Lease on a date that is not less than one (1) month after the date of service of the notice but not more than three (3) months after the damage occurred; or (b) informs the Lessee of the strata company’s intention to rebuild the Building or that part damaged and how long it is estimated to take.