Casualty Date definition
Examples of Casualty Date in a sentence
If Tenant does not give such notice within the ten (10) day period, this Lease shall terminate automatically as of the Casualty Date.
If Tenant does not give such notice within the thirty (30) day period, this Lease shall terminate automatically as of the Casualty Date.
If Landlord’s Repair Estimate reasonably indicates that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the Casualty Date, either Landlord or Tenant may terminate this Lease by giving written notice within fifteen (15) days after the date of Landlord’s Repair Estimate; and this Lease shall terminate and the Rent shall be abated from the date Tenant vacates the Premises.
If Landlord’s Repair Estimate indicates that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the Casualty Date, either Landlord or Tenant may terminate this Lease by giving written notice within ten (10) days after the date of Landlord’s Repair Estimate; and this Lease shall terminate and the Rent shall be abated from the date Tenant vacates the Premises.
If Landlord’s Repair Estimate indicates that rebuilding or repairs cannot be completed within ninety (90) days after the Casualty Date, either Landlord or Tenant may terminate this Lease by giving written notice within ten (10) days after the date of Landlord’s Repair Estimate; and this Lease shall terminate and the Rent shall be abated from the date Tenant vacates the Premises.
The time periods specified in this Section 12.2 shall commence after from the earlier of the date Landlord receives said written notice from Tenant of the occurrence of a Casualty or Landlord independently, at its officer level, obtains actual knowledge that a Casalty has occurred (the "Casualty Date").
In the event that the Repair Completion Date set forth in the Repair Notice is on or before the first anniversary of the Casualty Date, this Lease shall remain in effect and Landlord shall at its sole cost and expense proceed with reasonable diligence to rebuild and repair such damaged areas of the Project to substantially the condition in which they existed before the damage or destruction.
If the Premises, or any part thereof, are damaged or destroyed by a casualty, then within ninety (90) days following the Casualty Date Landlord shall give Tenant a Repair Notice setting forth the Repair Completion Date by which Landlord estimates that Landlord, in the exercise of commercially reasonable diligence, can adjust the casualty damage with any third-party insurer of Landlord and complete the repair and reconstruction of the casualty damage.
Any other provisions of this Lease ------------------------------ to the contrary notwithstanding, Landlord shall have no obligation to rebuild the Leased Premises or the Building, and Tenant shall have the right to terminate this Lease as of the Casualty Date, if the casualty occurs within the final twelve (12) months of the term of this Lease, unless Tenant agrees to exercise any option it then has to extend this Lease, or the parties otherwise agree to an extension or renewal hereof.
Such termination shall become effective as of the Casualty Date if the Leased Premises are untenantable, or as of a date ninety (90) days following the service of such notice of lease termination if the Leased Premises are not untenantable.