Common use of Major Damage Clause in Contracts

Major Damage. In the event of a “major” loss or damage, Buyer may terminate this Agreement by written notice to Seller, in which event the Deposit shall be returned to Buyer unless such loss or damage is caused by or contributed to by Buyer in which event Buyer shall not be entitled to a return of the Deposit. If Buyer does not elect to Terminate this Agreement within ten (10) days after Seller sends Buyer written notice of the occurrence of major loss or damage, then Buyer shall be deemed to have elected to proceed with Closing.

Major Damage. In the event of a “"major” " loss or damage, Buyer either Seller or Purchaser may terminate this Agreement by written notice to Sellerthe other party, in which event the Deposit Earnxxx Xxxey shall be returned to Buyer unless such loss or damage is caused by or contributed to by Buyer in which event Buyer shall not be entitled to a return of the DepositPurchaser. If Buyer does not elect neither Seller nor Purchaser elects to Terminate terminate this Agreement within ten (10) days after Seller sends Buyer Purchaser written notice of the occurrence of major loss or damage, then Buyer Seller and Purchaser shall be deemed to have elected to proceed with Closing.proceed

Major Damage. In the event of a “"major” " loss or damage, Buyer Purchaser may terminate this Agreement by written notice to Seller, in which event the Deposit shall be returned to Buyer unless such loss Purchaser and thereafter, neither party will have any further rights or damage is caused by or contributed to by Buyer in which event Buyer shall not be entitled to a return of the Depositobligations hereunder, except for any obligations that expressly survive termination. If Buyer Purchaser does not elect to Terminate terminate this Agreement within ten (10) 10 days after Seller sends Buyer Purchaser written notice of the occurrence of major "major" loss or damage, then Buyer Purchaser shall be deemed to have elected to proceed with ClosingClosing and the repairs shall be completed in accordance with Section 10.5 hereof.

Major Damage. In the event of a “"major” " loss or damage, Buyer Purchaser may terminate this Agreement by written notice to the Seller, in which event the Deposit (and all interest accrued thereon) shall be returned to Buyer unless such loss or damage is caused by or contributed to by Buyer in which event Buyer shall not be entitled to a return of the Deposit. If Buyer does not elect to Terminate this Agreement within ten (10) days after Seller sends Buyer written notice of the occurrence of major loss or damage, then Buyer shall be deemed to have elected to proceed with ClosingPurchaser.

Major Damage. In the event of a “major” loss or damage, Buyer Purchaser may terminate this Agreement by written notice to Seller, in which event any undisbursed portion of the Deposit shall be returned to Buyer unless such loss or damage is caused by or contributed to by Buyer in which event Buyer shall not be entitled to a return of the DepositPurchaser. If Buyer Purchaser does not elect to Terminate terminate this Agreement within ten (10) days Business Days after Seller sends Buyer Purchaser written notice of the occurrence of major loss or damage, then Buyer Seller and Purchaser shall be deemed to have elected to proceed with Closing., in which event Seller shall, at Seller’s option, either (a) perform any necessary repairs or