Common use of Casualty Not Material Clause in Contracts

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 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 (made by or on behalf of Seller prior to the Closing) and net of reasonable collection costs, in either case to the extent actually incurred or expended by Seller 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 casualtycasualty 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 destruction(other than to satisfy or cure any requirement of law, insurance company or health and safety matter) and Seller shall assign, without recourse, and turn over to Purchaser all of the insurance proceeds net of any actual out-of-pocket costs of repairs and net of reasonable actual out-of-pocket collection costs, in either case to the extent actually incurred or expended by Seller 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, and provide a credit for any deductible under such insurance.