Total or Substantial Destruction Clause Samples

Total or Substantial Destruction. If the Premises is totally or substantially destroyed (meaning the cost to repair would exceed twenty-five percent (25%) of replacement value) by any cause whatsoever, or if the Premises is in a building which is substantially destroyed (even though the Premises is not totally or substantially destroyed), this Lease shall, at the election of the Landlord, terminate as of the date the destruction occurred regardless of whether Landlord receives any insurance proceeds. However, if the Premises can be rebuilt within one (1) year after the date of destruction, Landlord may elect to rebuild the Premises at Landlord's own expense (with all insurance proceeds being made available to the Landlord to apply against such costs), in which case, this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after the occurrence of total or substantial destruction. If the destruction was caused by an act or omission of Tenant, Tenant shall pay Landlord the difference between the actual cost of rebuilding and any insurance proceeds received by Landlord.

Total or Substantial Destruction. If the Premises are totally or substantially destroyed by any cause whatsoever, or if the Building is substantially destroyed (even though the Premises are not totally or substantially destroyed), this Lease shall, at the election of the Landlord, terminate as of the date the destruction occurred (the “Date of Destruction”) regardless of whether Landlord receives any insurance proceeds.

Total or Substantial Destruction. If the Premises are totally or Substantially Destroyed by any cause whatsoever, this Lease shall terminate as of the date the destruction occurs regardless of whether Landlord receives any insurance proceeds. The term “Substantially Destroyed” or “Substantial Destruction” means destruction of more than fifty percent (50%) of the Premises. Notwithstanding the foregoing, and regardless of whether or not insurance proceeds are available, if the Premises can be rebuilt within ninety (90) days after the date of destruction, Landlord may elect to rebuild the Premises at Landlord’s own expense, in which case, this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after the occurrence of total or Substantial Destruction. If the destruction was caused by an act or omission of Tenant, Tenant shall pay Landlord the difference between the actual cost of rebuilding and any insurance proceeds received by Landlord.

Total or Substantial Destruction. In the event that the Demised Premises is totally destroyed or so damaged by fire or other casualty not occurring through fault or negligence of the Tenant or those employed by or acting for him, that, in Landlord’s judgment, the same cannot be repaired or restored within one hundred eighty (180) days, this Lease shall absolutely cease, and the rent shall ▇▇▇▇▇ as of the date of casualty for the balance of the term.

Total or Substantial Destruction. If the Premises are totally or substantially destroyed by any cause whatsoever, or if the Building is substantially destroyed (even though the Premises are not totally or substantially destroyed), this Lease shall terminate as of the date the destruction occurred regardless of whether Landlord receives any insurance proceeds. Notwithstanding the foregoing, and regardless of whether or not insurance proceeds are available, if the Premises can be rebuilt within sixty (60) days after the date of destruction, Landlord may elect to rebuild the Premises at Landlord’s own expense, in which case, this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within ten (10) days after the occurrence of total or substantial destruction. If the destruction was caused by an act or omission of Tenant, Tenant shall pay Landlord the difference between the actual cost of rebuilding and any insurance proceeds received by Landlord.

Total or Substantial Destruction. If the Leased Premises is totally or substantially destroyed by any cause whatsoever, or if the Leased Premises is in a building which is substantially destroyed (even though the Leased Premises is not totally or substantially destroyed), this Lease shall terminate as of the date the destruction occurred.

Total or Substantial Destruction. If the Property is totally or substantially destroyed by any cause whatsoever, this Lease shall terminate as of the date the destruction occurred regardless of whether Landlord receives any insurance proceeds, and in such event, Landlord shall receive all rental continuation insurance proceeds, and all insurance proceeds insuring the Premises, and Tenant shall pay to Landlord any deductible amount under any insurance policies. If the destruction was caused by an intentional act or omission of Tenant, and such act voids an insurance policy or is not covered by insurance, then this Lease shall terminate, however, Tenant shall pay Landlord the difference between the actual cost of rebuilding and any insurance proceeds received by Landlord.

Total or Substantial Destruction. If the Premises is totally or substantially destroyed by any cause whatsoever, this Lease shall terminate as of the date the destruction occurred regardless of whether Landlord receives any insurance proceeds. However, if the Premises can be rebuilt within one (1) year after the date of destruction, Landlord may elect to rebuild the Premises at Landlord’s own expense, in which case, this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within sixty (60) days after the occurrence of total or substantial destruction. If the destruction was caused by an act or omission of Tenant, Tenant shall pay Landlord the difference between the actual cost of rebuilding and any insurance proceeds received by Landlord.

Total or Substantial Destruction. Tenant shall promptly notify Landlord in case of damage to or destruction of the Premises due to fire or other casualty (collectively, “Casualty”). In the event that such Casualty causes the destruction of all or substantially all of the Buildings on the Premises (“Major Casualty”), Landlord or Tenant may terminate this Lease effective as of the date of such Major Casualty, by so notifying the other party in writing within fifteen (15) days after the date of such Major Casualty and such termination shall be effective as of the date of such notice. If this Lease is terminated by Landlord or Tenant pursuant to this Section 7.1 or Section 7.2, (a) Tenant shall pay Landlord (or, as directed by Landlord, its Lender) the amount of all Base Rent and Additional Rent for the remainder of the Term from the proceeds of Tenant’s rental/business interruption insurance, (b) Tenant shall assign to Landlord (or, as directed by Landlord, its Lender) the proceeds, if any, of Tenant’s property insurance required by Schedule B except to the extent that the proceeds relate to personal property that Landlord or a Licensed Designee does not own or acquire at the end of the Term, (c) Tenant shall pay to Landlord the amount equal to the lesser of (i) the deductible under Tenant’s and Landlord’s property insurance policies or (ii) the estimated cost of restoration and repair of the Buildings and the contents owned by Landlord or acquired by Landlord or a Licensed Designee at the end of the Term, (d) Tenant shall refund to Landlord the portion of any Extension Fee paid by Landlord to Tenant for the portion of the Extension Term subsequent to the termination date, (e) such termination shall be effective as of the date such termination notice is given, and (f) neither Tenant nor Landlord shall have any further liability to the other under this Lease except for those rights and obligations that, by their terms, survive the termination of this Lease.