Common use of Casualty; Condemnation Clause in Contracts

Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall promptly give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event (net of Seller’s cost of obtaining the same). If eminent domain proceedings are threatened or commenced against all or any part of the Property, Seller shall immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to appear in and receive any award from such proceedings (net of Seller’s cost of obtaining the same).

Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall promptly immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten thirty (1030) days after Seller’s notice. To constitute “substantial” damage, the cost to repair or restore, as estimated by Seller, shall exceed $200,000.00. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event (net of Seller’s cost of obtaining event, and the same)Purchase Price shall be reduced by the deductible. If eminent domain proceedings are threatened or commenced against all or any part of the Property, Seller shall immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten thirty (1030) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to appear in and receive any award from such proceedings (net of Seller’s cost of obtaining the same)proceedings.

Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall promptly immediately give written notice to Buyer, Buyer and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten thirty (1030) days after Seller’s 's notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event (net of event. And Buyer shall receive a credit in the amount equal to Seller’s cost of obtaining the same)insurance deductible, if any. If eminent domain proceedings are threatened or commenced against all or any part of the Property, Seller shall immediately give written notice to Buyer, Xxxxx and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten thirty (1030) days after Seller’s 's notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to appear in and receive any award from such proceedings. Prior to the Closing Date, Seller shall not designate counsel, appear in, or otherwise act with respect to the condemnation proceedings (net of Seller’s cost of obtaining the same)without Xxxxx's prior written consent, which consent may be conditioned on Seller retaining counsel selected by Xxxxx.

Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall promptly immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event (net event. The parties agree that the purchase provided for in this Agreement is in lieu of Seller’s cost of obtaining the same)Buyer exercising its eminent domain powers to take the Property. If eminent domain proceedings are threatened or commenced against all or any part of the PropertyReal Property by any other authority or government, Seller shall immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement extend the Closing date to permit it to exercise its eminent domain authority and receive back all Xxxxxxx Money assert a superior right to the Property by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and at Closing Seller shall assign to Buyer all rights to appear in and receive any award from such proceedings (net of Seller’s cost of obtaining the same)proceedings.

Casualty; Condemnation. If all or any part of the Property Real Estate is substantially damaged by fire, casualty, the elements or any other causecause prior to closing, Seller shall promptly immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event (net of Seller’s cost of obtaining the same)event. If eminent domain proceedings are threatened or commenced against all or any part of the PropertyReal Estate, Seller shall immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Buyer’s Xxxxxxx Money by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to appear in and receive any award from such proceedings (net of Seller’s cost of obtaining the same)proceedings.

Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall promptly immediately give written notice to Buyer, and Buyer Xxxxx shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event (net event. The parties agree that the purchase provided for in this Agreement is in lieu of Seller’s cost of obtaining the same)Buyer exercising its eminent domain powers to take the Property. If eminent domain proceedings are threatened or commenced against all or any part of the PropertyReal Property by any other authority or government, Seller shall immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement extend the Closing date to permit it to exercise its eminent domain authority and receive back all Xxxxxxx Money assert a superior right to the Property by giving notice thereof to Seller within ten (10) days after Seller’s notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and at Closing Seller shall assign to Buyer all rights to appear in and receive any award from such proceedings (net of Seller’s cost of obtaining the same)proceedings.

Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements elements, or any other cause, Seller immediately shall promptly give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving written notice thereof to Seller within ten thirty (1030) days after Seller’s noticeBuyer receives written notice from Seller of the same, in which case the Earxxxx Xxney shall be returned to Buyer. If Buyer shall fail to give the noticenotice of termination, then the parties shall proceed to Closing, Closing and Seller shall assign to Buyer all of Seller’s rights to insurance proceeds resulting from such event (net of Seller’s cost of obtaining the same)event. If eminent domain proceedings are threatened or commenced against all or any part of the Property, Seller immediately shall immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving written notice thereof to Seller within ten thirty (1030) days after Seller’s noticeBuyer receives written notice from Seller of the same, in which case the Earxxxx Xxney shall be returned to Buyer. If Buyer shall fail to give the noticenotice of termination, then the parties shall proceed to Closing, Closing and Seller shall assign to Buyer all of Seller’s rights to appear in and receive any award from such proceedings (net of Seller’s cost of obtaining the same)proceedings.

Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall promptly immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten thirty (1030) days after Seller’s 's notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event (net of Seller’s cost of obtaining the same)event. If eminent domain proceedings are threatened or commenced against all or any part of the Property, Seller shall immediately give written notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Xxxxxxx Money by giving notice thereof to Seller within ten thirty (1030) days after Seller’s 's notice. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to appear in and receive any award from such proceedings (net of Seller’s cost of obtaining the same)proceedings.