Condemnation and Destruction. 15 17.1 Eminent Domain or Taking. . . . . . . . . . . . . . . . . . . . . . 15
Condemnation and Destruction. (a) If, prior to the Closing Date, the Property, or any part of any Property, is taken by eminent domain (or is the subject of a pending or contemplated taking which has not been consummated), the Partnership shall notify Home Properties of such fact, and Home Properties shall have the option (which option shall be set forth in a notice from Home Properties to the Partnership given not later than fifteen (15) business days after receipt of the notice from the Partnership):
Condemnation and Destruction. (a) If, prior to the Closing Date, all or any significant portion (as defined in this Section) of the Property is taken by eminent domain (or, if prior to the Closing Date, any eminent domain proceeding with respect to any significant portion of the Property has been commenced or Seller has received written notice threatening to commence any such eminent domain proceeding), Seller shall notify Purchaser thereof promptly after obtaining knowledge thereof and either Purchaser or Seller shall have the right to terminate this Agreement, which termination shall be effected by giving notice to the other not later than ten (10) days after the giving of Seller's notice. For the purposes hereof, a "significant portion" of the Property shall mean such a portion of the Property as shall have a value, as reasonably determined by Seller, in excess of ten (10%) percent of the Purchase Price. If either party elects to terminate this Agreement as aforesaid, the provisions of Section 16(b) shall apply. If neither Seller nor Purchaser elects to terminate this Agreement as aforesaid, or if an "insignificant portion" (i.e., anything other than a significant portion) of the Property is taken by eminent domain (or becomes the subject of a pending taking), there shall be no abatement of the Purchase Price and Seller shall assign to Purchaser (without recourse) at the Closing the rights of Seller to the awards theretofore received, if any, for the taking, and Purchaser shall be entitled to all rights of Seller under the Loan Documents, if any, to receive and keep all awards for the taking of the Property or such portion thereof.
Condemnation and Destruction. 15 17.1 EMINENT DOMAIN OR TAKING. . . . . . . . . . . . . . . . . . . . . . 15 17.2 DAMAGE OR DESTRUCTION . . . . . . . . . . . . . . . . . . . . . . . 16
Condemnation and Destruction. A. For purposes of this Article 18, a “
Condemnation and Destruction. A. If, prior to the Closing Date, all or any significant portion of the Property is taken by eminent domain or is the subject of a pending taking which has not been consummated (collectively, a "Taking"), Sellers shall notify Buyer of such fact and Buyer shall have the option to terminate this Agreement upon notice to Sellers given not later than ten (10) business days after receipt of Sellers's notice, time being of the essence. If this Agreement is terminated, as aforesaid, then the Deposit shall be returned to Buyer, and thereupon neither party shall have any further rights or obligations to the other hereunder except such obligations as survive termination of this Agreement. If Buyer elects not to terminate this Agreement as aforesaid, or if an "insignificant portion" (i.e., any Taking which does not materially interfere with access to the Property and does not serve to decrease in any material respect the size of any of the Buildings) of the Property is taken by eminent domain, there shall be no abatement of the Purchase Price, but Sellers shall assign and turn over at the Closing, and Buyer shall be entitled to receive and keep, all awards for such taking by eminent domain.
Condemnation and Destruction. (a) If, prior to the Closing Date, the Property, or any part of any building included in the Property, is taken by eminent domain (or is the subject of a pending or contemplated taking which has not been consummated), the Partnership shall notify OP of such fact, and OP shall have the option (which option shall be set forth in a notice from OP to the Partnership given not later than fifteen (15) business days after receipt of the notice from the Partnership):
Condemnation and Destruction. (a) If, prior to the Closing Date, any Property or any major part of any Property, is taken by eminent domain (or is the subject of a pending or contemplated taking which has not been consummated), then Sellers shall notify Buyer of such fact (“Taking Notice”). Buyer may terminate this Agreement with respect to any affected Property by written notice to the other given not later than fifteen (15) business days after receipt of the Taking Notice and the provisions of Section 33 shall apply. In the event that no such termination notice is given within the aforementioned period, then Buyer shall be deemed to have agreed to accept title to any affected Property (other than the portion so taken), without abatement of the Purchase Price, in which event the Company shall be entitled to receive and keep, and Sellers shall waive all rights to, all amounts awarded, or to be awarded, as the result of the taking.
Condemnation and Destruction. (A) If, prior to the Closing Date, all or any material portion of the Property is taken by eminent domain (or is the subject of a pending or contemplated taking which has not been consummated), Seller shall notify Purchaser of such fact promptly and prior to Closing, and Purchaser shall have the option (which option shall be set forth in a notice from Purchaser to Seller and Escrow Agent given not later than thirty (30) days after receipt of Seller's notice or, if earlier, by Closing):
Condemnation and Destruction. 14.1. If, prior to the Closing Date a Non-Material Taking (as hereinafter defined) occurs, then (i) Seller shall notify Purchaser of such fact, (ii) Purchaser shall not have any right or option to terminate this Agreement and this Agreement shall continue in effect, (iii) at the Closing, Purchaser shall accept the Shopping Center subject to such Non-Material Taking or so much of the Shopping Center as remains after such Non-Material Taking, as the case may be, with no abatement of the Purchase Price, and (iv) at the Closing, Seller shall assign and turn over to Purchaser, and Purchaser shall be entitled to receive and keep, all of Seller's interest in and to all awards for such Non-Material Taking. If, prior to the Closing Date, a Material Taking (as hereinafter defined) occurs with respect to the Shopping Center, then (i) Seller shall notify Purchaser of such fact and (ii) Purchaser shall have the right to terminate this Agreement by delivering notice of such termination to Seller on or before the tenth (10th) day after Purchaser receives such notice from Seller, and if necessary, the Closing Date shall be postponed until the Business Day next immediately following such tenth (10th) day. In the event that Purchaser fails to exercise such termination right within such ten (10) day period, Purchaser shall be deemed to have waived such termination right, in which event the provisions of the first sentence of this SECTION 14.1 shall apply to such Material Taking. In the event that Purchaser delivers a notice of termination within such ten (10) day period, then this Agreement shall terminate, Escrow Agent shall refund the Downpayment to Purchaser, whereupon neither party shall have any further rights or obligations hereunder except that the obligations of the parties under SECTIONS 13, 31, 32, 34, 35.2 and 35.3 shall survive.
