Termination upon damage Sample Clauses
Termination upon damage. In the event a casualty occurs at the Property which results in damage to the Improvements in excess of $1,000,000, then Purchaser may terminate this Agreement without further liability hereunder (except for those provisions that expressly survive termination) and recover the Deposit.
Termination upon damage. In the event that the land or the premises become so damaged or destroyed by any of the events referred to in sub-clause 23.9 so as to require major reconstruction or total reinstatement which is likely to take more than 12 months to complete then the Lessee may in its discretion elect to terminate the lease by giving to the Lessor 1 month notice to terminate the lease.