Eminent Domain; Casualty. There are no pending eminent domain proceedings against the Collateral Property or any part thereof, and, to the knowledge of Borrower, the Guarantors and Owner, no such proceedings are presently threatened or contemplated by any taking authority. Neither the Collateral Property nor any part thereof is now damaged or injured as a result of any fire, explosion, accident, flood or other casualty.
Eminent Domain; Casualty. As of the Closing Date, there are no pending eminent domain proceedings against the Mortgaged Property or the Negative Pledge Property or any part thereof, and, to Borrower’s Knowledge, no such proceedings are presently threatened or contemplated by any taking authority. Neither the Mortgaged Property, the Negative Pledge Property nor any part thereof is, as of the Closing Date, materially damaged or injured as a result of any fire, explosion, accident, flood or other casualty.
Eminent Domain; Casualty. At the time the Eligible Asset becomes a Borrowing Base Asset, there are no pending eminent domain proceedings against the Eligible Asset or any part thereof, and, to Borrower’s Knowledge, no such proceedings are presently threatened or contemplated by any taking authority. Neither the Eligible Asset nor any part thereof is, as of the date such Eligible Asset becomes a Borrowing Base Asset, materially damaged or injured as a result of any fire, explosion, accident, flood or other casualty.
Eminent Domain; Casualty. 10.1 If all or substantially all of the Property is taken by eminent domain after the date hereof and prior to the Closing, this Agreement shall terminate and the Deposit shall be returned to Buyer. If a taking by eminent domain of a material part of the Property (as hereinafter defined) shall be made after the date hereof and prior to the Closing then Seller shall promptly notify Buyer of the same (the “Taking Notice”), and Buyer shall have the right to terminate this Agreement by notice from Buyer to Seller and Escrow Agent given before the date that is the earlier to occur of (a) ten (10) days after the date of the Taking Notice and (b) the Closing. In the event Buyer does not terminate this Agreement, Buyer shall accept such title to the Property as Seller can deliver, in which case Seller shall pay over or assign to Buyer all rights and proceeds arising by reason of such taking (less any collection costs incurred by Seller in connection therewith and any costs and expenses incurred by Seller to restore the Property) and Buyer shall pay the Purchase Price without reduction. If this Agreement so terminates, then the Deposit shall be paid to Buyer. For purposes of this Section, a taking by eminent domain of a material part of the Property shall be defined as any taking which is of a nature which would give the tenant under the IDEXX Lease the right to terminate the IDEXX Lease pursuant to the terms thereof.
10.2 If any time after the date hereof and prior to the Closing any portion of the Improvements is destroyed or damaged as a result of fire or any casualty, Seller shall promptly give notice thereof to Buyer. The rights and obligations of the parties by reason of such destruction or damage shall be as follows:
10.2.1 If the “Cost of Repair and Restoration” (as hereinafter defined) of such destruction or damage shall be Five Hundred Thousand Dollars ($500,000.00) or less, the obligations of the parties hereunder shall not be affected by such destruction or damage and Buyer shall accept title to the Property in its destroyed or damaged condition. Buyer shall pay the Purchase Price without reduction, and Seller shall pay over or assign to Buyer without recourse all rights to any proceeds of insurance paid or payable with respect to such destruction or damage (less any collection costs incurred by Seller in connection therewith and any costs and expenses incurred by Seller to restore the Property) and Buyer shall have a credit against the Purchase Price i...
Eminent Domain; Casualty. There are no pending eminent domain proceedings against the Mortgaged Property or the Mezzanine Property or any part thereof, and, to the knowledge of the Borrower, no such proceedings are presently threatened or contemplated by any taking authority. No Mortgaged Property, Mezzanine Property or Building nor any part thereof is now damaged or injured as a result of any fire, explosion, accident, flood or other casualty.
Eminent Domain; Casualty. Except as set forth on Schedule 6.24(k) hereto, there are no pending eminent domain proceedings against the Mortgaged Property or any part thereof, and, to the best of the knowledge and belief of the Borrower and REA no such proceedings are presently threatened or contemplated by any taking authority. Neither the Mortgaged Property, the Building nor any part thereof is now materially damaged or injured as a result of any fire, explosion, accident, flood or other casualty.
Eminent Domain; Casualty. In the event that, prior to the Actual Closing Date, all or a significant portion of the Project is damaged by a fire or other casualty or is subject to a condemnation or taking, then (a) Seller shall promptly notify Buyer of the same (an "EVENT NOTICE") and (b) Buyer or Seller may at its option terminate this Agreement not later than (i) as to Seller, ten (10) days following the occurrence of such casualty or condemnation or taking and (ii) as to Buyer, ten (10) days following receipt by Buyer of an Event Notice. In the event of the termination of this Agreement pursuant to this Section, the Xxxxxxx Money, together with all interest earned thereon, shall be returned to Buyer and both parties shall be relieved of all obligations hereunder except as specifically provided herein. Pending the exercise, if any, of such option by Buyer or Seller, at either party's option, the Due Diligence Period, if applicable, and the Closing Date shall be extended for a reasonable period of time. For purposes of this Section 12, a "significant portion" of the Land and Improvements shall mean (a) in the case of a casualty, a portion which would cost in excess of Five Hundred Thousand Dollars ($500,000) to restore and (b) in the case of a condemnation or taking by eminent domain, any portion of the Land or Improvements having a value or causing damage to the remainder of more than Five Hundred Thousand Dollars ($500,000).
Eminent Domain; Casualty. 54 (k) Leases. . . . . . . . . . . . . . . . . . . . . . . . . . 54 (l)
Eminent Domain; Casualty. 8.1 If all or substantially all of the Property is taken by eminent domain after the date hereof and prior to the Closing, this Agreement shall terminate and the Deposit shall be returned to Buyer. If a taking by eminent domain of a material part of the Property shall be made after the date hereof and prior to the Closing, then the Seller shall promptly notify Buyer of the same (the "Taking Notice"), and Buyer shall have the right to terminate this Agreement by notice from Buyer to Seller given on or before the date that is the earlier to occur of: (a) after ten (10) days the date of the Taking Notice, and (b)
Eminent Domain; Casualty. There are no pending eminent domain proceedings against such Pool Property or any part thereof, and, to the knowledge of the Borrowers, no such proceedings are presently threatened or contemplated by any taking authority. Neither such Pool Property, any Building comprising or located on such Pool Property nor any part thereof is now materially damaged or injured as a result of any fire, explosion, accident, flood or other casualty.
