Common use of Substantial or Total Destruction Clause in Contracts

Substantial or Total Destruction. If the Property is substantially or totally destroyed by any cause whatsoever (i.e., the damage to the Property is greater than partial damage as described in Section 7.02), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate the later of (i) the date the destruction occurred, and (ii) the date Tenant ceases to do business at the Property. Notwithstanding the preceding sentence, if the Property can be rebuilt within six (6) months after the date of destruction, Landlord may elect to rebuild the Property at Landlord 's own expense, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after Tenant's notice of the occurrence of total or substantial

Appears in 1 contract

Samples: Lease Agreement (Luminex Lighting Inc)

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Substantial or Total Destruction. If the Property is substantially or totally destroyed by any cause whatsoever (i.e., the damage to the Property is greater than partial damage as described in Section 7.027.1), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate the later as of (i) the date the destruction occurred, and (ii) the date Tenant ceases to do business at the Property. Notwithstanding the preceding sentence, if the Property can be rebuilt within six two (62) months after the date of destruction, Landlord may elect to rebuild the Property at Landlord Landlord's own expense, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty fifteen (3015) days after Tenant's notice of the occurrence of total or substantialsubstantial destructxxx.

Appears in 1 contract

Samples: Genetic Vectors Inc

Substantial or Total Destruction. If the Property is substantially or totally destroyed by any cause whatsoever (i.e., the damage to the Property is greater than partial damage as described in Section 7.027.01), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate the later as of (i) the date the destruction occurred, and (ii) the date Tenant ceases to do business at the Property. Notwithstanding the preceding sentence, if the Property can be rebuilt within six (6) months after the date of destruction, Landlord may elect to rebuild the Property at Landlord 's Landlord’s own expense, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after Tenant's ’s notice of the occurrence of total or substantialsubstantial destruction.

Appears in 1 contract

Samples: Lease Agreement Between (Biolife Solutions Inc)

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Substantial or Total Destruction. If Subject to Section 7.2, if the Property is substantially or totally destroyed by any cause whatsoever (i.e., the damage to the Property is greater than partial damage as described in Section 7.027.1), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate the later as of (i) the date the destruction occurred, and (ii) the date Tenant ceases to do business at the Property. Notwithstanding the preceding sentence, if the Property can be rebuilt within six twelve (612) months after the date of destruction, Landlord may elect to rebuild the Property at Landlord 's own expenseProperty, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after Tenant's notice of the occurrence of total or substantialsuch destruction.

Appears in 1 contract

Samples: Xylan Corp

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