Common use of CASUALTY, RISK OF LOSS Clause in Contracts

CASUALTY, RISK OF LOSS. Sellers shall bear the risk of all loss or damage to any of the Assets from all causes which occur prior to the Closing. If at any time prior to the Closing any portion of the Assets is damaged or destroyed as a result of fire, other casualty or for any reason whatsoever, Sellers shall immediately give notice thereof to Buyer. Buyer shall have the right, in its sole and absolute discretion, within ten (10) days of receipt of such notice, to (1) elect not to proceed with the Closing and terminate this Agreement, or (2) proceed to Closing and consummate the transactions contemplated hereby and receive any and all insurance proceeds received or receivable by any Group Members on account of any such casualty. Nothing contained in this Section 12.1 shall limit or adversely affect the right of Buyer and IHS to receive indemnification for any Losses incurred by either of them by reason of any breach by any Group Participant of any representation, warranty or obligation under this Agreement in accordance with Section 10.2 hereof (and for such purposes such Section 10.2 shall survive the termination of this Agreement).

CASUALTY, RISK OF LOSS. Sellers The Company and Shareholder shall bear the risk of all loss or damage to any of the Assets from all causes which occur prior to the Closing. If at any time prior to the Closing any portion of the Assets is damaged or destroyed as a result of fire, other casualty or for any reason whatsoever, Sellers the Company and Shareholder shall immediately give notice thereof to Buyer. Buyer shall have the right, in its sole and absolute discretion, within ten (10) days of receipt of such notice, to (1) elect not to proceed with the Closing and terminate this Agreement, or (2) proceed to Closing and consummate the transactions contemplated hereby and receive any and all insurance proceeds received or receivable by any Group Members Shareholder or the Company on account of any such casualty. Nothing contained in this Section 12.1 14.1 shall limit or adversely affect the right of Buyer and IHS to receive indemnification for any Losses incurred by either of them by reason of any breach by any Group Participant Shareholder or the Company of any representation, warranty or obligation under this Agreement in accordance with Section 10.2 12.2 hereof (and for such purposes such Section 10.2 12.2 shall survive the termination of this Agreement).

CASUALTY, RISK OF LOSS. Sellers The Companies and Shareholders shall bear the risk of all loss or damage to any of the Assets from all causes which occur prior to the Closing. If at any time prior to the Closing any portion of the Assets is damaged or destroyed as a result of fire, other casualty or for any reason whatsoever, Sellers the Companies and Shareholders shall immediately give notice thereof to Buyer. Buyer shall have the right, in its sole and absolute discretion, within ten (10) days of receipt of such notice, to (1) elect not to proceed with the Closing and terminate this Agreement, or (2) proceed to Closing and consummate the transactions contemplated hereby and receive any and all insurance proceeds received or receivable by any Group Members Shareholder or either Company on account of any such casualty. Nothing contained in this Section 12.1 13.1 shall limit or adversely affect the right of Buyer and IHS to receive indemnification for any Losses incurred by either of them by reason of any breach by any Group Participant Shareholder or either Company of any representation, warranty or obligation under this Agreement in accordance with Section 10.2 11.2 hereof (and for such purposes such Section 10.2 11.2 shall survive the termination of this Agreement).

CASUALTY, RISK OF LOSS. The Company and Sellers shall bear the risk of all loss or damage to any of the Assets from all causes which occur prior to the Closing. If at any time prior to the Closing any portion of the Assets is damaged or destroyed as a result of fire, other casualty or for any reason whatsoever, the Company and Sellers shall immediately give notice thereof to Buyer. Buyer shall have the right, in its sole and absolute discretion, within ten (10) days of receipt of such notice, to (1) elect not to proceed with the Closing and terminate this Agreement, or (2) proceed to Closing and consummate the transactions contemplated hereby and receive any and all insurance proceeds received or receivable by any Group Members Seller or the Company on account of any such casualty. Nothing contained in this Section 12.1 14.1 shall limit or adversely affect the right of Buyer and IHS to receive indemnification for any Losses incurred by either of them by reason of any breach by any Group Participant Seller or the Company of any representation, warranty or obligation under this Agreement in accordance with Section 10.2 12.2 hereof (and for such purposes such Section 10.2 12.2 shall survive the termination of this Agreement).

CASUALTY, RISK OF LOSS. Sellers The Company and the Seller shall bear the risk of all loss or damage to any of the Assets from all causes which occur prior to the Closing. If at any time prior to the Closing any portion of the Assets is damaged or destroyed as a result of fire, other casualty or for any reason whatsoever, Sellers the Company and the Seller shall immediately give notice thereof to Buyer. Buyer shall have the right, in its sole and absolute discretion, within ten (10) days of receipt of such notice, to (1) elect not to proceed with the Closing and terminate this Agreement, or (2) proceed to Closing and consummate the transactions contemplated hereby and receive any and all insurance proceeds received or receivable by any Group Members the Seller or the Company on account of any such casualty. Nothing contained in this Section 12.1 14.1 shall limit or adversely affect the right of Buyer and IHS to receive indemnification for any Losses incurred by either of them by reason of any breach by any Group Participant the Seller or the Company of any representation, warranty or obligation under this Agreement in accordance with Section 10.2 12.2 hereof (and for such purposes such Section 10.2 12.2 shall survive the termination of this Agreement).