DESTRUCTION OF PROJECT. 13.1 In the event any part of the Project shall be damaged or destroyed prior to the Contribution Date, Contributor shall notify SCOLP thereof, which notice shall include a description of the damage and all pertinent insurance information. If the use or occupancy of the Project is materially affected by such damage or destruction or the cost to repair such damage or destruction exceeds Fifty Thousand Dollars ($50,000.00), SCOLP shall have the right to terminate this Agreement by notifying Contributor within ten (10) days following the date SCOLP receives notice of such occurrence or on the Contribution Date, whichever occurs first, whereupon none of Contributor, Owner, the Holding Company nor SCOLP shall have any further obligation hereunder to each other except for any provision which expressly survives the termination of this Agreement. If SCOLP does not elect to terminate this Agreement, or shall fail to timely notify Contributor, prior to the Contribution Date the parties shall take all action necessary to assure Owner's right, title and interest in and to the proceeds of the fire and extended coverage insurance presently carried by or payable to Owner.
DESTRUCTION OF PROJECT. The Facility is destroyed, or suffers an actual or constructive total loss or damage.
DESTRUCTION OF PROJECT. 13.1 In the event any part of the Project shall be damaged or destroyed prior to the Closing Date, Seller shall notify Purchaser thereof, which notice shall include a description of the damage and all pertinent insurance information. If the use or occupancy of the Project is materially affected by such damage or destruction or the cost to repair such damage or destruction exceeds Fifty Thousand Dollars ($50,000.00), Purchaser shall have the right to terminate this Agreement by notifying Seller within thirty (30) days following the date Purchaser receives notice of such occurrence, whereupon the Deposit shall be returned immediately to Purchaser, and Seller and Purchaser shall not have any further obligation hereunder to the other. If Purchaser does not elect to terminate this Agreement, or shall fail to notify Seller within the said thirty (30) day period, on the Closing Date, which may be extended by Seller or Purchaser to accommodate compliance with this Section 13.1, Seller shall assign to Purchaser all of Seller's right, title and interest in and to the proceeds of the fire and extended coverage insurance presently carried by or payable to Seller, and the Purchase Price shall be reduced by the amount of any deductible applicable to such insurance.
DESTRUCTION OF PROJECT the Project or any substantial part thereof is destroyed or damaged in a manner which is not covered in full by proceeds of insurance, (excluding any agreed deductibles);
DESTRUCTION OF PROJECT. 31 7.1.13 Change of Law. 31 7.1.14 Remedies. 31 ARTICLE 8 - SCOPE OF LIABILITY 31 ARTICLE 9 - MISCELLANEOUS 32 9.1 Addresses 32 9.2 Delay and Waiver 32 9.3 Entire Agreement 32 9.4 Governing Law 32 9.5 Severability 33 9.6 Headings 33 9.7 No Partnership, Etc. 33 9.8 Consent to Jurisdiction 33 9.9 Successors and Assigns 33 9.10 Counterparts 33 TABLE OF SCHEDULES AND EXHIBITS iv TABLE OF SCHEDULES AND EXHIBITS Exhibit A Form of Project Note Schedule 5.8 Insurance Schedule A Interest Payment Schedule Schedule B Amortization Schedule THIS AMENDED AND RESTATED SHAREHOLDER LOAN AGREEMENT (this "Agreement") dated as of April 1, 1997, by and between Pan- Western Energy Corporation LLC (the "Lender"), a company with limited liability organized under the laws of the Cayman Islands, and Tangshan Pan-Sino Heat Co., Ltd. (the "Borrower"), a Sino- foreign equity joint venture with limited liability organized under the laws of the People's Republic of China (the "PRC" or "China").
DESTRUCTION OF PROJECT. Project Blue Mill or any substantial part thereof is destroyed or damaged in a manner which is not covered in full by proceeds of insurance, (excluding any agreed deductibles);
DESTRUCTION OF PROJECT. 12.1 In the event any part of any Project shall be damaged or destroyed prior to the Closing Date, Contributors shall notify Purchasers thereof, which notice shall include a description of the damage and all pertinent insurance information. If the use or occupancy of any Project is materially affected by such damage or destruction or the cost to repair such damage or destruction exceeds Fifty Thousand and No/Dollars ($50,000.00), Purchasers shall have the right to terminate this Agreement with respect to such Project by notifying Contributors within ten (10) days following the date Purchasers receive notice of such occurrence or on the Closing Date, whichever occurs first, whereupon neither Contributors nor Purchasers shall have any further obligation hereunder to each other with respect to such Project except as expressly provided herein. If Purchasers does not elect to terminate this Agreement with respect to such Project, or shall fail to timely notify Contributors within the required time period, on the Closing Date, which may be extended by Contributors or Purchasers to accommodate compliance with this Section 12.1, then, at Purchasers’ option, either (i) Contributors shall assign to Purchasers all of Contributors’ right, title and interest in and to the proceeds of the fire and extended coverage insurance presently carried by or payable directly or indirectly to Contributors, and the Agreed Values shall be reduced by the amount of any 2368068.4 deductible applicable to such insurance, or (ii) Contributors shall, at their sole cost and expense, make any and all required repairs to the applicable Project and the Closing shall be delayed until such time as such Project is restored to Purchaser’s satisfaction.
DESTRUCTION OF PROJECT. In case of partial or total destruction of the Project, the Borrower agrees to abide by the provisions of Section 11 of the Lease Agreement.
DESTRUCTION OF PROJECT. 13.1 In the event any part of the Project shall be damaged or destroyed prior to the Closing Date, Seller shall notify Purchaser thereof, which notice shall include a description of the damage and all pertinent insurance information. If the use or occupancy of the Project is materially affected by such damage or destruction or the cost to repair such damage or destruction exceeds Fifty Thousand Dollars ($50,000.00), Purchaser shall have the right to terminate this Agreement by notifying Seller within thirty (30) days following the date Purchaser receives notice of such occurrence, whereupon Seller and Purchaser shall not have any further obligation hereunder to the other. If Purchaser does not elect to terminate this Agreement, or shall fail to notify Seller within the said thirty (30) day period, on the Closing Date Seller shall assign to Purchaser all of Seller's right, title and interest in and to the proceeds of the fire and extended coverage insurance presently carried by or payable to Seller.
DESTRUCTION OF PROJECT. 12.1 In the event any part of the Project shall be damaged or destroyed prior to the Closing Date, Assignor shall notify SCOLP thereof, which notice shall include a description of the damage and all pertinent insurance information. If the use or occupancy of the Project is materially affected by such damage or destruction or the cost to repair such damage or destruction exceeds One Hundred Thousand Dollars ($100,000.00), SCOLP shall have the right to terminate this Agreement by notifying Assignor within ten (10) days following the date SCOLP receives notice of such occurrence or on the Closing Date, whichever occurs first, whereupon (x) the Deposit shall be returned to SCOLP, and (y) neither Assignor nor SCOLP shall have any further duties or obligations under this Agreement except that SCOLP’s indemnity obligations under Section 9.3 shall survive. If SCOLP does not elect to terminate this Agreement, or shall fail to timely notify Assignor within the required time period, on the Closing Date, which may be extended by Assignor or SCOLP to accommodate compliance with this Section 12.1, Assignor shall assign to SCOLP or Palm Creek all of Assignor’ right, title and interest in and to the proceeds of the fire and extended coverage insurance presently carried by or payable directly or indirectly to Assignor or Palm Creek, and the Purchase Price shall not be reduced by the amount of any deductible applicable to such insurance.
