Maintenance and Risk of Loss a. Purchaser shall not be required to take any action to maintain, repair, or insure the Properties. If prior to the Closing Date, any of the Properties shall be taken by condemnation, eminent domain or damaged or destroyed by fire or other casualty, neither party shall have the right to cancel this Agreement. Purchaser shall purchase the Properties in accordance with this Agreement and Purchase Price shall not be reduced. Purchaser and Seller hereby irrevocably waive the provision of any statute that provides for a different outcome or treatment in the event the Properties shall be taken or damaged or destroyed by fire or other casualty.
Maintenance and Risk of Loss. (a) Seller shall maintain the Premises including all improvements and buildings thereon in the same order, repair and condition in which the Premises are presently maintained, normal wear and tear excepted.
(b) Seller shall maintain in effect through settlement, the hazard insurance policies (if any) now in effect with respect to the Premises. Seller shall bear the risk of loss to the Premises from fire or other casualty until time of settlement. If at any time prior to settlement any portion or all of the Premises is destroyed or damaged as a result of fire or other casualty, not repaired or replaced prior to settlement, Buyer shall have the right to terminate this Agreement and obtain a refund of all monies paid on account or of completing settlement, provided all proceeds of insurance covering the Premises are paid to Buyer at settlement. Buyer is hereby further notified that it may insure its equitable interest in the Premises as of the time of the acceptance of this Agreement.
Maintenance and Risk of Loss. Seller shall maintain the Assets in their present condition, normal wear and tear excepted. Seller shall bear the risk of loss from fire or other casualties until Closing. In the event any material portion of a Property or any of the other Assets included in this sale is damaged by fire or other casualties and such Property or other Assets is/are not repaired or replaced with assets of comparable worth and performance prior to Closing, Buyer shall have the option of: (i) accepting the affected Property(ies) or Asset(s) in its/their then condition, together with the proceeds of any insurance recovery obtainable by Seller (if Buyer elects to proceed under this clause (i), Seller shall not compromise, settle or adjust any claims to any such insurance proceeds without Buyer’s prior written consent which consent shall not be unreasonably withheld, conditioned or delayed); or (ii) electing to exclude any Property(ies) or Asset(s) which is materially damaged by fire or other casualties from this Agreement by written notice to Seller, and in that event, at Closing the Purchase Price will be reduced based upon the portion of the Purchase Price allocated to the excluded Property(ies) or Asset(s) on the Allocation. Buyer may insure its equitable interest in the Assets as of the time of acceptance of this Agreement.
Maintenance and Risk of Loss. (i) Seller will maintain the Property, grounds and fixtures in its present condition, normal wear and tear excepted.
(ii) The risk of loss or damage by fire or other casualty to the premises or improvements thereon from the date of this Agreement until the time of delivery of the deed is assumed by the Seller. If the Seller fails to repair the improvements on the premises caused by such loss or damage prior to Closing, the Buyer shall have the following options:
(A) To terminate this Agreement, in which event, all sums paid on account hereof shall be paid to the Buyer without interest thereon. Upon receipt of such payments, all further claims and obligations between the parties hereto, by reason of this Agreement and on account of the sale and conveyances herein contemplated, shall be released and discharged; or
(B) To accept a deed conveying the premises in accordance with all of the provisions of this Agreement on payment of the aforesaid purchase price and receiving the benefit of all insurance proceeds recovered or to be recovered on account of such loss or damage with respect to the premises and improvements to be sold hereunder less the amount of any moneys actually expended by the Seller on the repairs.
Maintenance and Risk of Loss. The Seller is responsible for maintaining all parts of the Property included in the sale in the same condition they are in at the time the Agreement is executed, normal wear and tear excepted. Items not working at the signing of the Agreement, and that are not going to be repaired or replaced by the Seller, should be prominently stated by the Seller. Identifying these items prior to signing will help avoid last minute disagreements where the Buyer might assume an appliance had been working at the time of signing. The best place for this would be in Paragraph 7 or a separate addendum.
Maintenance and Risk of Loss. (1-14) 616 (A) Seller will maintain the Property (including, but not limited to, structures, grounds, fixtures, appliances, and personal property) 617 specifically listed in this Agreement in its present condition, normal wear and tear excepted. 618 (B) If any part of the Property included in the sale fails before settlement, Seller will:
Maintenance and Risk of Loss. From the date of the acceptance of this Letter Agreement until the earlier of (i) the end of the Term or (ii) the execution and delivery of the Definitive Agreement:
Maintenance and Risk of Loss. (5-01)
(A) Seller will maintain the Property, and any personal property specified herein, in its present condition, normal wear and tear excepted.
(B) Seller will promptly notify the Buyer if, at any time prior to the time of settlement, all or any portion of the Property is destroyed, or damaged as a result of any cause whatsoever.
(C) Seller will bear risk of loss from fire or other causes until time of settlement. In the event that damage to any property included in this sale is not repaired or replaced prior to settlement, Buyer will have the option of rescinding this Agreement and receiving all monies paid on account or of accepting the Property in its then condition together with the proceeds of any insurance recovery obtained by Seller. Xxxxx is hereby notified that he/she may insure his/her equitable interest in this Property as of the time this Agreement is accepted.
Maintenance and Risk of Loss. The Property, including all improvements thereon, shall be at the risk of Seller until the closing. Seller shall maintain the Property in its present condition until the closing.
Maintenance and Risk of Loss. (A) Seller shall maintain the Property, grounds, fixtures, and any personal property specifically scheduled herein in its present condition, normal wear and tear excepted.
(B) Seller shall bear risk of loss from fire or other casualties until time of settlement. In the event of damage by fire or other casualties to any property included in this sale that is not repaired or replaced prior to settlement, Buyer shall have the option of rescinding this Agreement and promptly receiving all monies paid on account of purchase price, or of accepting the Property in its then condition.
(C) The Buyer is hereby notified and agrees that it is their responsibility to insure their equitable interest in the said premises at their own expense and obligation, upon signing this agreement.
