CASUALTY LOSS OR DAMAGE Sample Clauses

CASUALTY LOSS OR DAMAGE. If the Property is damaged by any casualty prior to closing, SELLER 152 shall immediately notify BUYER in writing. If the cost of repair or restoration does not exceed 3% of the 153 Purchase Price, cost of restoration will be an obligation of SELLER and closing will proceed pursuant to the 154 terms of this Agreement. If the cost of repair or restoration exceeds 3% of the Purchase Price, BUYER may 155 terminate this Agreement by giving written notice to SELLER within 10 days after XXXXX’s receipt of 156 written notice from SELLER of the casualty. If BUYER has not so terminated, SELLER shall have 30 days 157 from the end of said 10 day period to complete the repairs in accordance with the conditions required by 158 paragraph 14 and all applicable laws. Closing shall occur within 20 days thereafter but not sooner than the 159 date of closing as set forth in paragraph 3. 160 If BUYER has not terminated as above, and the cost of repair or restoration exceeds said 3% and SELLER 161 declines to pay the excess, then SELLER must notify BUYER in writing of same within 15 days after the 162 casualty. In this event, BUYER may either purchase the Property as is, together with any insurance 163 proceeds payable by virtue of such casualty (to be assigned by SELLER to BUYER upon closing) plus an 164 amount equal to SELLER’s deductible, or BUYER may terminate this Agreement. BUYER shall have 5 165 days after receipt of SELLER’s written notice of refusal to pay the excess costs to terminate this 166 Agreement, or be deemed to have elected to proceed with this transaction.
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CASUALTY LOSS OR DAMAGE. If the Property is damaged by any casualty prior to closing, SELLER shall 427 immediately notify BUYER in writing. If the cost of repair or restoration does not exceed 3% of the Purchase 428 Price, cost of repair or restoration will be an obligation of SELLER and closing will proceed pursuant to the 429 terms of this Agreement. If the cost of repair or restoration exceeds 3% of the Purchase Price, BUYER may 430 terminate this Agreement by giving written notice to SELLER within 10 days after BUYER’s receipt of 431 written notice from SELLER of the casualty. If BUYER has not so terminated, SELLER shall have 30 days 432 from the end of said 10 day period to complete the repairs in accordance with the conditions required by 433 paragraph 3 and all applicable laws. Closing shall occur within 20 days thereafter but not sooner than the 434 date of closing as set forth in paragraph 6. 435 If BUYER has not terminated as above, and the cost of repair or restoration exceeds said 3% and SELLER 436 declines to pay the excess, then SELLER must notify BUYER in writing of same within 15 days after the 437 casualty. In this event, BUYER may either purchase the Property as is, together with any insurance 438 proceeds payable by virtue of such casualty (to be assigned by SELLER to BUYER upon closing) plus an 439 amount equal to SELLER’s deductible, or BUYER may terminate this Agreement. BUYER shall have 5 days 440 after receipt of SELLER’s written notice of refusal to pay the excess costs to terminate this Agreement or be 441 deemed to have elected to proceed with this transaction. 442 16. PERSONAL PROPERTY: The following items, if owned by SELLER and existing on the Property on the 443 date of the initial offer, are included in the Purchase Price: range/oven, cooktop, dishwasher, disposal, 444 ceiling fans, trash compactor, audio/visual system wiring, smart outlets, thermostats, keyless entry devices, 445 solar panels, light fixtures and bulbs, smoke detector(s), bathroom mirrors, drapery hardware, all window 446 treatments, garage door opener and controls, security gate and other access devices, mailbox and mailbox 447 key, fence, plants and shrubbery as now installed on the Property, and those additional items checked 448 below (to which no value has been assigned): 449 Refrigerator(s) Microwave Oven Pool fence/barrier Mounted/installed speakers 450 Washer Window/wall a/c Pool Sweep Water softener/treatment system 451 Dryer Built-in Generator Above Ground Pool Storm shutt...
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CASUALTY LOSS OR DAMAGE. Any casualty loss or damage to any Acquired Asset between the date of this Agreement and the Effective Time shall be governed by the provisions of this Section 2.5(c), but subject to the rights of the Parties under Articles 6, 7 and 12.
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Related to CASUALTY LOSS OR DAMAGE

  • LOSS OR DAMAGE The District and its agents and authorized representatives shall not in any way or manner be answerable or suffer loss, damage, expense, or liability for any loss or damage that may happen to the Work, or any part thereof, or in or about the same during its construction and before acceptance, and the Contractor shall assume all liabilities of every kind or nature arising from the Work, either by accident, negligence, theft, vandalism, or any cause whatsoever; and shall hold the District and its agents and authorized representatives harmless from all liability of every kind and nature arising from accident, negligence, or any cause whatsoever.

  • Casualty Damage If the Leased Premises shall be destroyed or damaged by fire or any other casualty, Tenant shall immediately give notice thereof to Landlord. If the Leased Premises shall be damaged by fire or other insured casualty, so as to render the Leased Premises or access thereto untenantable in whole or in part and to such an extent that Landlord determines that such damage can be repaired with the application of reasonable diligence within two hundred forty (240) days, Tenant shall each be entitled to terminate this Lease whereupon all rent accrued up to the time of such casualty shall be paid by Tenant to Landlord. If the Leased Premises or access thereto, shall be destroyed or damaged by fire or any other casualty, and if the Leased Premises are rendered untenantable in whole or in part by reason of such casualty, then Tenant shall be entitled to a fair diminution of the rent hereunder from the time of such casualty until such time as the Leased Premises are made tenantable as reasonably determined by Landlord. In addition to the foregoing, if for any cause the Leased Premises or Building shall be so damaged that Landlord shall in its sole judgment decide not to rebuild, then by notice in writing to Tenant, this Lease shall forthwith terminate and all rent owed up to the time of such casualty as set forth in such notice shall be paid by Tenant to Landlord. In no event shall Landlord have any obligation to repair or restore any of Tenant’s goods, Trade Fixtures, furniture or other property placed in or incorporated in the Leased Premises which is destroyed or damaged by fire or any other casualty.

  • Damage or Destruction If the demised premises or any part thereof shall be damaged or destroyed by fire or other casualty, Landlord shall promptly repair all such damage and restore the demised premises without expense to Tenant, subject to delays due to adjustment of insurance claims, strikes and other causes beyond Landlord's Control. If such damage or destruction shall render the premises untenable in whole or in part, the rent shall be abated in proportion to the loss of usage of the demised premises by Tenant until the damage shall be repaired and the premises restored. If the damage or destruction shall be so extensive as to require the expenditure of fifty (50%) percent or more of the replacement cost of the building or buildings on the demised premises, Landlord may elect to terminate this Lease by written notice to the other given within thirty (30) days after the occurrence of such damage or destruction if Landlord shall not commence reconstruction of the premises within sixty (60) days after the loss, Tenant may give Landlord notice of its intent to terminate the Lease, and if Landlord shall not commence such reconstruction within fifteen (15) days after receipt of Tenant's notice, Tenant may terminate this Lease. Landlord and Tenant hereby release each other from responsibility for loss or damage occurring on or to the leased premises or the premises of which they are a part or to the contents of either thereof, caused fire or other hazards actually covered by the fire and extended coverage insurance policy Tenant is required to provide under Section 5 above, and each waives all rights or recovery against the other for such loss or damage. Willful misconduct lawfully attributable to either party, whether in whole or in part a contributing cause of the casualty giving rise to the loss or damage, shall not be excused under the foregoing release and waiver.

  • Insurance; Damage to or Destruction of Collateral (a) The Credit Parties shall, at their sole cost and expense, maintain the policies of insurance described on Disclosure Schedule (3.18) as in effect on the date hereof or otherwise in form and amounts and with insurers reasonably acceptable to Agent. Such policies of insurance (or the loss payable and additional insured endorsements delivered to Agent) shall contain provisions pursuant to which the insurer agrees to provide 30 days prior written notice to Agent in the event of any non-renewal, cancellation or amendment of any such insurance policy. If any Credit Party at any time or times hereafter shall fail to obtain or maintain any of the policies of insurance required above or to pay all premiums relating thereto, Agent may at any time or times thereafter obtain and maintain such policies of insurance and pay such premiums and take any other action with respect thereto that Agent deems advisable. Agent shall have no obligation to obtain insurance for any Credit Party or pay any premiums therefor. By doing so, Agent shall not be deemed to have waived any Default or Event of Default arising from any Credit Party's failure to maintain such insurance or pay any premiums therefor. All sums so disbursed, including reasonable attorneys' fees, court costs and other charges related thereto, shall be payable on demand by Borrower to Agent and shall be additional Obligations hereunder secured by the Collateral.

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