Common use of Property Substantially Damaged Clause in Contracts

Property Substantially Damaged. If the Property is damaged or destroyed by any Casualty (regardless whether the Premises is affected) and the damage reduces the value of the improvements on the Property by more than 50% (as Landlord reasonably determines value before and after the Casualty), then notwithstanding anything to the contrary in Sections 11.1 and 11.2, Landlord may, at Landlord's option, by notifying Tenant within 30 days after the Casualty, terminate this Lease effective on the date 60 days after the date of Landlord's notice.

Property Substantially Damaged. If the Property is damaged or destroyed by any Casualty (regardless of whether the Premises is affected) and the damage reduces the value of the improvements on the Property by more than 50% (as Landlord reasonably determines value before and after the Casualty), then notwithstanding anything to the contrary in Sections 11.1 and 11.2, Landlord may, at Landlord's ’s option, by notifying Tenant within 30 60 days after the Casualty, terminate this Lease effective on the date 60 days after the date of Landlord's ’s notice.

Property Substantially Damaged. If the Property is damaged or destroyed by any Casualty (regardless whether the Premises is affected) and the damage reduces the value of the improvements on the Property by more than 50% (as Landlord reasonably determines value before and after the Casualty)%, then notwithstanding anything to the contrary in Sections 11.1 and 11.2, either Landlord may, at Landlord's option, by notifying or Tenant within 30 days after the Casualty, may terminate this Lease effective on the date 60 30 days after the date of Landlord's noticesuch casualty.

Property Substantially Damaged. If the Property is damaged or destroyed by any Casualty (regardless whether the Premises is affected) and the damage reduces the value of the improvements on the Property Building by more than 50% (as Landlord reasonably determines value (absent restoration) before and after the Casualty), then notwithstanding anything to the contrary in Sections 11.1 and 11.2, Landlord may, at Landlord's ’s option, by notifying Tenant within 30 60 days after the Casualty, terminate this Lease effective on the date 60 days after the date of Landlord's ’s notice.