Common use of Irreparable Damage Clause in Contracts

Irreparable Damage. If fire or other casualty insurable under a standard fire and extended risk policy of insurance required to be carried by Tenant covering the Premises shall render the whole or any material portion of the Premises untenantable and the Premises cannot reasonably be expected to be reparable within one hundred eighty (180) days from the date of such event, or if an uninsurable casualty shall render the whole or any portion of the Premises untenantable, then Landlord or Tenant, by notice in writing to the other, mailed within thirty (30) days from the date of such damage or destruction, may terminate this Lease effective upon a date within thirty (30) days from the date of such notice. The Minimum Rent, Additional Rent, and all other costs shall be abated for the period during which the Premises are untenantable. Upon termination, all prepaid rents and/or deposits shall be returned to Tenant, any and all insurance proceeds payable on account of such casualty shall be paid over or assigned to the Landlord (subject to the right of Landlord's lender to any such proceeds), and neither Landlord nor Tenant shall have any other future obligations or responsibilities under this Lease.

Irreparable Damage. If fire or other casualty insurable under a standard fire and extended risk policy of insurance required to be carried by Tenant covering the Premises shall render the whole or any material portion of the Premises untenantable and the Premises cannot reasonably be expected to be reparable within one hundred eighty (180) days from the date of such event, or if an uninsurable casualty shall render the whole or any portion of the Premises untenantable, then Landlord or Tenant, by notice in writing to the other, mailed within thirty (30) days from the date of such damage or destruction, may terminate this Lease effective upon a date within thirty (30) days from the date 8 of such notice. The Minimum Rent, Additional Rent, and all other costs shall be abated for the period during which the Premises are untenantable. Upon termination, all prepaid rents and/or deposits shall be returned to Tenant, any and all insurance proceeds payable on account of such casualty shall be paid over or assigned to the Landlord (subject to the right of Landlord's lender to any such proceeds), and neither Landlord nor Tenant shall have any other future obligations or responsibilities under this Lease.