Common use of Damage or Condemnation Prior to Closing Clause in Contracts

Damage or Condemnation Prior to Closing. If any material portion of the Property is taken by condemnation or eminent domain or there is any actual or threatened condemnation or eminent domain affecting any material portion of the Property (a “Condemnation Act”) prior to Closing, then Buyer will have the right to terminate this Agreement by notice to the other and to the Title Company, in which case neither Seller nor Buyer will thereafter have any obligation to each other except for those matters intended to survive.

Damage or Condemnation Prior to Closing. If any material portion of the Property is taken by condemnation or eminent domain or there is any actual or threatened condemnation or eminent domain affecting any material portion of the Property (a “Condemnation Act”) prior to Closing, then either Seller or Buyer will have the right to terminate this Agreement by notice to the other and to the Title Company, in which case neither Seller nor Buyer will thereafter have any obligation to each other except for those matters intended to survive.

Damage or Condemnation Prior to Closing. If any material portion of the Property is taken by condemnation or eminent domain or there is any actual or threatened condemnation or eminent domain affecting any material portion of the Property (a “Condemnation Act”) prior to Closing, then Buyer Xxxxxx will have the right to terminate this Agreement by notice to the other and to the Title Company, in which case neither Seller the City nor Buyer Xxxxxx will thereafter have any obligation to each other except for those matters intended to survive.