Common use of Contracting purchaser Clause in Contracts

Contracting purchaser. If at the time of damage to any building insured under this section you have contracted to sell your interest in such building and the purchase has not been but is thereafter completed, the purchaser will be entitled (on completion of the purchase, and then only so far as the property is not otherwise insured by or on behalf of the purchaser against such damage) to the benefit of this section insofar as it relates to such damage, without prejudice to the rights and liabilities of you or us under this section up to the date of completion.