Common use of Substantial or Total Destruction Clause in Contracts

Substantial or Total Destruction. If the Premises is substantially or totally destroyed by any cause whatsoever (i.e., the damage to the Premises is greater than partial damage as described in Section 7.01), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises can be rebuilt within six (6) months after the date of destruction, Landlord may elect to rebuild the Premises at Landlord’s own expense, in which case this Lease shall remain in full force and effect, with the exception of abatement of Base Rent and Additional Rent until the Premises is fully restored. Landlord shall notify Tenant of such election within fifteen (15) days after Tenant’s notice of the occurrence of total or substantial destruction. If Landlord so elects, Landlord shall rebuild the Premises at Landlord’s sole expense, except if the damage was due to the intentional misconduct of Tenant, or Tenant’s employees, agents, contractors or invitees, and such intentional misconduct causes Landlord’s insurance to deny coverage, then Tenant shall pay the difference between the actual cost of repair and any insurance proceeds received by Landlord.

Substantial or Total Destruction. If the Premises is substantially or totally destroyed by any cause whatsoever (i.e.meaning, the damage to the Premises is greater than partial damage as described in Section 7.01), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises can be rebuilt within six three (63) months after the date of destructiondestruction or if the destruction was caused by Tenant, Landlord may elect to rebuild the Premises at Landlord’s own expense, in which case this Lease shall remain in full force and effect, with the exception of abatement of Base Rent effect and Additional Rent until Landlord shall rebuild the Premises is fully restoredwithin said three months if the destruction was not caused by Tenant or within a reasonable time period if the destruction was caused by Tenant. Landlord shall notify Tenant of such election within fifteen thirty (1530) days after Tenant’s notice of the occurrence of total or substantial destruction. If Landlord so elects, Landlord shall rebuild the Premises at Landlord’s sole expense, except that if the damage destruction was due to the intentional misconduct caused by an act or omission of Tenant, or Tenant’s employees, agents, contractors or invitees, and such intentional misconduct causes Landlord’s insurance to deny coverage, then Tenant shall pay Landlord the difference between the actual cost of repair rebuilding and any insurance proceeds received by Landlord.