Common use of Partial Damage or Destruction Clause in Contracts

Partial Damage or Destruction. If the Leased Premises should be damaged by fire, tornado, or other casualty and can be repaired or restored within one hundred and eighty (180) days, neither Landlord nor Tenant shall have the option to terminate this Lease and Landlord shall, to the extent of insurance proceeds received, then proceed with reasonable diligence to rebuild and repair the Leased Premises to substantially the same condition in which the Leased Premises existed prior to such damage so as to continue to be UL certified. If the Leased Premises are untenantable in whole or in part prior to or during such repair and restoration, the Rental payable hereunder during the period in which the Leased Premises are untenantable shall be reduced to such extent as may be fair and reasonable under all of the circumstances. If such damage occurs during the last year of the Primary Term or any Extension, either Landlord or Tenant may terminate this Lease by delivering written notice of termination to the other.