Casualty Not Material. If the Casualty is not Material, then the Closing shall occur without abatement of the Purchase Price except for a credit in the amount of the applicable deductible and Seller shall not be obligated to repair such damage or destruction and Seller shall assign, without recourse, and turn over to Purchaser all of the insurance proceeds net of any costs of repairs and net of reasonable collection costs (or, if such have not been awarded, all of its right, title and interest therein) payable with respect to such fire or such casualty including any rent abatement insurance for such casualty.
Casualty Not Material. If the casualty is not Material, then the Closing shall occur without abatement of the Purchase Price (except for a credit against the Purchase Price in the amount of the applicable deductible under Seller’s insurance policies), Seller shall not be obligated to repair such damage or destruction and Seller shall assign and turn over to Purchaser all of the insurance proceeds net of any costs of repairs and net of reasonable collection costs (or, if such have not been awarded, all of its right, title and interest therein) payable with respect to such fire or such casualty, including any rent abatement insurance accruing for periods after the Closing with respect to such casualty.
Casualty Not Material. If the Casualty is not Material, then the Closing shall occur without abatement of the Purchase Price except for a Purchase Price credit in the amount of the applicable insurance deductible and any damage from such Casualty not covered by the insurance proceeds. Seller shall not be obligated to repair such damage or destruction and Seller shall assign, without recourse, and turn over to Purchaser all of the insurance proceeds net of any reasonable (a) costs of repairs actually incurred by Seller, and (b) collection costs (or, if such have not been awarded, all of its right, title and interest therein) payable with respect to such casualty and credit the Purchase Price with the amount of any applicable insurance deductible.
Casualty Not Material. If the Casualty is not Material, then the Closing shall occur without abatement of the Purchase Price except for a credit to Purchaser in the amount of the applicable deductible and Seller shall not be obligated to repair such damage or destruction and Seller shall assign, without recourse, and turn over to Purchaser all of the insurance proceeds net of any costs of repairs and net of reasonable collection costs, in either case to the extent actually incurred or expended by Seller (or, if such have not been awarded, all of its right, title and interest therein) payable with respect to such fire or such casualty including any rent abatement insurance for such casualty.
Casualty Not Material. If a casualty is not Material, Seller shall not be obligated to repair any damage, the parties shall proceed to Closing pursuant to the terms hereof without abatement of the Purchase Price and at Closing, (i) Seller shall either pay to Purchaser, or assign to Purchaser the right to receive, all insurance proceeds paid or awarded to Seller, or if such have not been awarded, all of Seller’s right, title and interest therein, payable with respect to such casualty; and (ii) Purchaser shall receive a credit against the Purchase Price for any deductible that may be required in connection with such insurance proceeds.
Casualty Not Material. If the Casualty is not Material, then the Closing will occur without abatement of the Consideration except for a credit to the Company in the amount of any deductible, uninsured amounts, or underinsured amounts. The Company will have the right to participate in the negotiations and settlement of any casualty-related claim in the event the Company elects to proceed with Closing and Contributor will not be obligated to repair the damage or destruction and Contributor shall assign and turn over to the Company all of the insurance proceeds (or, if not yet awarded, all of its right, title and interest therein) payable with respect to the fire or the casualty, including any rent abatement insurance for the casualty.
Casualty Not Material. 12.4. Materiality........................................................
Casualty Not Material. 26 12.4. Materiality...................................................26 ARTICLE XIII..................................................................26 Default.......................................................................26 13.1.
Casualty Not Material. If any damage that is not Material shall occur prior to Closing, the amount of any applicable deductible under Seller’s insurance policies shall be credited against the amounts payable by Purchaser to Senior Lender pursuant to the Financing Condition and the net proceeds of any payment to Seller under such insurance policies (including business interruption proceeds for any period after the Closing Date to the extent that Purchaser shall suffer the loss for which such proceeds were paid) shall be applied toward such payments to the extent such insurance payments have been received by Seller or Seller shall assign to Purchaser all of Seller’s right, title and interest in any such payments to the extent such insurance payments have not been received by Seller. If any damage that is not Material shall occur prior to Closing and such casualty is not then covered by Seller’s insurance, then this Agreement shall remain in effect, and the amount reasonably anticipated to be required to restore the Project from such casualty shall be credited against the amounts payable by Purchaser to Senior Lender pursuant to the Financing Condition.
Casualty Not Material. If the casualty is not Material, then the Closing shall occur without abatement of the Purchase Price except for a credit in the amount of the reasonable estimate of the cost to repair the damage from the casualty (provided, however, that either Seller or Purchaser may extend the date for Closing up to thirty (30) days in order to resolve any issues as a result of such casualty with such party’s insurer or lender, respectively.
