Substantial Destruction definition

Substantial Destruction means a structure which is damaged, whether voluntarily or involuntarily, to the extent that repairs to restore the structure to its original form and use would require the expenditure of 50 percent or more of the market value of the structure immediately before the time of the damage.

Substantial Destruction means the damage or destruction of the Building by any casualty to the extent that repair of such damage or destruction cannot be completed within one hundred eighty (180) days after the date of such damage or destruction, as reasonably determined by Landlord.

Substantial Destruction means the occurrence of any damage or destruction of the Property where the Estimated Cost of Restoration is 75% or more of the estimated Restored Value of the Property. “Partial Destruction” means the occurrence of any damage or destruction to the Property which is not a Substantial Destruction.

Examples of Substantial Destruction in a sentence

• In the event any or all of the District improvements located in or on the Leased Premises shall suffer either Partial or Substantial Destruction at any time during the Term hereof, the Rent due to be paid by Lessee shall be paid to the date of such destruction and shall then be abated to the extent that the Leased Premises are untenantable, so that Lessee shall only be obligated to pay Rent on those portions of the Leased Premises that are tenantable.

• Default and Termination 33 19.1 Termination by Seqwater 33 19.2 Termination by the Customer 33 19.3 Termination for Convenience 34 19.4 Substantial Destruction or Damage to Seqwater Property 34 20.

• In the event of Partial Damage or Substantial Destruction or a Hazardous Substance Condition for which Lessee is not responsible under this Lease, the Rent payable by Lessee for the period required for the repair, remediation or restoration of such damage shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, but not to exceed the proceeds received from the Rental Value insurance.

• INSURANCE, DAMAGE AND DESTRUCTION AND BONDING 13 8.1 Utility’s Insurance 13 8.2 Agreement Not Affected by Damage or Destruction 13 8.3 Utility’s Obligations – Damage or Partial Destruction 13 8.4 Utility’s Obligations – Complete or Substantial Destruction 13 8.5 Standards of Replacement, Repair or Reconstruction 13 8.6 Right to Repair and Receive Insurance Proceeds 14 8.7 Replacement Insurance 14 9.

• If a Substantial Destruction shall occur, then Lessor shall promptly restore the Building, at Lessor’s expense, to the condition which existed immediately prior to the occurrence of such damage, unless Lessor, within one hundred and twenty (120) days after the occurrence of such damage, shall give notice to Lessee of Lessor’s election to terminate this Lease.

More Definitions of Substantial Destruction

Substantial Destruction means to remove more than 60 percent of the existing exterior walls of a building or structure, as measured by the horizontal linear length of all exterior walls. Any partial removal of existing wall shall count towards the measurement of horizontal linear length the same as if the entire wall within that horizontal linear length was removed, except partial removal shall not include replacement of windows or doors when no beams or struts are removed. Walls shall include all structural components such as framing and foundations but shall not include the floor or roof and such wall components as insulation, or finish elements or surfaces (e.g., drywall or exterior paneling and siding).

Substantial Destruction means damage or destruction (i) to the extent of more than 50% of the cost of replacement of the Building, or (ii) which cannot be repaired or restored within the period set forth in subsection 14(i) below.

Substantial Destruction means damage or destruction to the improvements on the Premises or the Building, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in 3 months or less from the date of the damage or destruction. Lessor shall notify Lessee in writing within 30 days from the date of the damage or destruction as to whether or not the damage is Partial or Substantial.

Substantial Destruction as used herein, shall be deemed to mean a destruction of improvements to such an extent that the then current estimated total costs of restoring the destroyed improvements to as good a condition of habitability and/or usability (for those certain uses herein authorized and intended therefore) as existed immediately prior to the occurrence of any such destruction shall exceed fifteen percent (15%) of the then current estimated total replacement costs of all of the improvements on the Leased Premises (excluding land and personal properties).

Substantial Destruction. Any damage or destruction to the Premises or the Building which Lessor is not obligated to repair pursuant to Subparagraph 20(a) above will be deemed a substantial destruction. In the event of a substantial destruction, Lessor may elect to either: (i) repair, reconstruct and restore the portion of the Building or the Premises damaged by such casualty, in which case this Lease will continue in full force and effect, subject to Lessee's termination right contained in Subparagraph 20(d) below; or (ii) a notice from Lessor's insurance company that there is funds to

Substantial Destruction means a Casualty which shall require repairs to or restoration of the Premises, the estimated cost of which shall exceed One Hundred Thousand and 00/100 ($100,000.00) dollars. In case of any dispute as to the estimated cost of repairs to or restoration of any Casualty, such dispute shall be determined by a reputable contractor selected by Seller and approved by Purchaser (which approval Purchaser agrees not to unreasonably withhold or delay) whose estimate of such cost shall be incorporated in a bid irrevocable for a period of thirty (30) days and shall be binding upon Seller and Purchaser and the Closing Date shall be adjourned until such cost is determined.

Substantial Destruction means a Casualty which shall require repairs to or restoration of the Premises, the estimated cost of which shall exceed Six Million and 00/100 ($6,000,000.00)