Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to the Property and the Net Proceeds are equal to or greater than the Restoration Threshold or the costs of completing the Restoration is equal to or greater than the Restoration Threshold, Lender shall make the Net Proceeds available for the Restoration, provided that each of the following conditions are met:
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual Property, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual Property, provided that each of the following conditions are met:
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to the Property, Borrower shall or shall cause Operating Company to commence and satisfactorily complete with due diligence the Restoration in accordance with the terms of this Agreement, provided that, if required pursuant to the terms of this Agreement, Agent shall have made the Net Proceeds available to Borrower in accordance with the provisions of this Agreement. If the Net Proceeds are equal to or greater than the Restoration Threshold or the costs of completing the Restoration are equal to or greater than the Restoration Threshold, or the Observation Deck shall, as a result of such Casualty, be inaccessible or closed for more than thirty (30) days, Agent shall make the Net Proceeds available for the Restoration, provided that each of the following conditions are met:
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to the Property, Borrower shall commence and satisfactorily complete with due diligence the Restoration in accordance with the terms of this Agreement and the Project Loan Agreement. If the Net Proceeds are equal to or greater than the Restoration Threshold or the costs of completing the Restoration, or Completion of the Improvements, as applicable, is equal to or greater than the Restoration Threshold, Lender shall make the Net Proceeds available for the Restoration, provided that each of the following conditions are met:
Major Casualty or Condemnation. If prior to Closing, (i) condemnation proceedings are commenced against all or any material portion of the Property and such proceedings are not covered by Section 9.2, or (ii) the Property is damaged by fire or other casualty and such damage is not covered by Section 9.2, either Purchaser or Seller shall have the right, upon notice in writing to the other party delivered within ten (10) days after Seller gives Purchaser notice of such matter as described in this Section 9.3, to terminate this Agreement, whereupon this Agreement shall terminate, the Title Company shall return the Deposit to Purchaser and neither party to this Agreement shall thereafter have any further rights or liabilities under this Agreement other than those that expressly survive termination of this Agreement. If neither party timely elects to terminate this Agreement, then this Agreement shall continue in full force and effect and the Purchase Price shall not be reduced except as hereinafter set forth, but Purchaser shall be entitled to an assignment of all of the proceeds payable to Seller of fire or other casualty insurance (other than those proceeds expended by or on behalf of Seller prior to Closing to restore the Property), all business interruption or rent loss insurance proceeds (if any) payable with respect to the period from and after Closing, and all condemnation awards payable to Seller (other than any portion of the award in respect of income lost prior to Closing or expended by or on behalf of Seller prior to Closing to restore the Property), as the case may be, and Seller shall have no obligation to repair or restore the Property; provided, however, that in the case of any insured casualty, the Purchase Price shall be reduced by the "deductible" applied by the applicable Seller's insurer with respect to such fire or casualty and not paid by such Seller prior to Closing.
Major Casualty or Condemnation. Any Major Casualty or Major Condemnation affecting the Property shall occur; or
Major Casualty or Condemnation. (c) If a Casualty or Condemnation has occurred to the Property and the costs of completing the Restoration is equal to or greater than the Restoration Threshold, Lender shall make the Net Proceeds available to Borrower for the Restoration, provided that each of the following conditions precedent are satisfied:
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to the Property, Borrower shall commence and satisfactorily complete with due diligence the Restoration in accordance with the terms of this Agreement, provided that, if required to pursuant to the terms of this Agreement, Agent shall have made the Net Proceeds available to Borrower in accordance with the provisions of this Agreement. If the Net Proceeds are equal to or greater than the Restoration Threshold or the costs of completing the Restoration are equal to or greater than the Restoration Threshold, Agent shall make the Net Proceeds available for the Restoration and payment of insured continuing expenses, provided that each of the following conditions are met:
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to the Property, Borrower shall commence and satisfactorily complete with due diligence the Restoration in accordance with the terms of this Agreement, provided that, if required to pursuant to the terms of this Agreement, Agent shall have made the Net Proceeds available to Borrower in accordance with the provisions of this Agreement. If the Net Proceeds are equal to or greater than the Restoration Threshold or the costs of completing the Restoration are equal to or greater than the Restoration Threshold, Agent shall make the Net Proceeds available for the Restoration, provided that each of the following conditions are met:
Major Casualty or Condemnation. If the entire Community or a portion thereof which includes a substantial portion of the Home shall be taken in or by any condemnation or other eminent domain proceeding pursuant to any law, general or special, or shall be conveyed in lieu thereof, or if a substantial part of the Community including the Home shall be destroyed or damaged by fire or other unavoidable casualty, and if such destruction or damage will preclude the repair or restoration of the affected portion of the Community or the Home substantially to their condition prior to such event and such repair or restoration may not reasonably be accomplished within one (1) year after the event, then Nashaquisset shall so notify Homeowner, and Homeowner may within thirty (30) days of such notice, terminate this Residence Agreement. In the event Homeowner elects not to terminate this Residence Agreement within the specified period, this Agreement shall remain in full force and effect.
