Common use of Loss due to Condemnation Clause in Contracts

Loss due to Condemnation. In the event of a condemnation proceeding commenced on or before the Closing Date with respect to all or any material portion of any of the Acquired Properties or the Improvements, Purchaser may, upon written notice to Seller given within 10 days of receipt of written notice of such event, terminate this Agreement pursuant to ARTICLE X of this Agreement. In the event that Purchaser does not elect to terminate, then this Agreement shall remain in full force and effect, and the transaction hereby contemplated shall close in accordance with the terms and conditions of this Agreement except that Seller shall assign to Purchaser at Closing all of Seller's rights and interests in and to any condemnation awards which have been paid or are or become payable to Seller.

Loss due to Condemnation. In the event of a condemnation condemNation proceeding commenced on or before the Closing Date with respect to all or any material portion of any of the Acquired Properties or the Improvements, Purchaser may, upon written notice to Seller given within 10 days of receipt of written notice of such event, terminate this Agreement pursuant to ARTICLE X of this Agreement. In the event that Purchaser does not elect to terminate, then this Agreement shall remain in full force and effect, and the transaction hereby contemplated shall close in accordance with the terms and conditions of this Agreement except that Seller shall assign to Purchaser at Closing all of Seller's rights and interests in and to any condemnation awards which have been paid or are or become payable to Seller.

Loss due to Condemnation. In the event of a condemnation proceeding commenced on or before the Closing Date with respect to all or any material portion of any of the Acquired Properties or the Improvements, Purchaser may, upon written notice to Seller Sellers given within 10 days of receipt of written notice of such event, terminate this Agreement pursuant to ARTICLE X 10 of this Agreement. In the event that Purchaser does not elect to terminate, then this Agreement shall remain in full force and effect, and the transaction hereby contemplated shall close in accordance with the terms and conditions of this Agreement except that Seller Sellers shall assign to Purchaser at Closing all of SellerSellers' and the Shareholder's rights and interests in and to any condemnation awards which have been paid or are or become payable to SellerSellers or the Shareholder.

Loss due to Condemnation. In the event of a condemnation proceeding commenced on or before the Closing Date with respect to all or any material portion of any of the Acquired Properties Business Property or the Improvements, Purchaser may, upon written notice to Seller given within 10 ten (10) days of receipt of written notice of such event, terminate this Agreement pursuant to ARTICLE X of this Agreement. In the event that Purchaser does not elect to terminate, then this Agreement shall remain in full force and effect, and the transaction hereby contemplated shall close in accordance with the terms and conditions of this Agreement except that Seller shall assign to Purchaser at Closing all of Seller's rights and interests in and to any condemnation awards which have been paid or are or become payable to Seller.