Common use of Minor Casualty Clause in Contracts

Minor Casualty. Whether or not the notice required by SECTION 8.1 is given, if Improvements are destroyed by fire or other casualty and the estimated cost of repairs, as reasonably determined by Sellers based on a report by an independent construction or architectural firm, is $500,000 or less for any individual Property (a MINOR CASUALTY), Closing will occur with no reduction in the Purchase Price and at Closing:

Minor Casualty. Whether or not the notice required by SECTION 8.1 is given, if Improvements are destroyed by fire or other casualty and the estimated cost of repairs, repairs as reasonably determined by Sellers based on a report by an independent construction or architectural firm, is $500,000 or less for any individual Property (a MINOR CASUALTYCasualty), Closing will occur with no reduction in the Purchase Price and at Closing:

Minor Casualty. Whether or not the notice required by SECTION Section 8.1 is given, if Improvements are destroyed by fire or other casualty and the estimated cost of repairs, repairs as reasonably determined by Sellers based on a report by an independent construction Seller is less than or architectural firm, is $500,000 or less for any individual Property equal to two percent (2%) of the Purchase Price (a MINOR CASUALTY“Minor Casualty”), Closing will occur with no reduction in the Purchase Price and at Closing:

Minor Casualty. Whether or not the notice required by SECTION 8.1 is given, if Improvements are destroyed by fire or other casualty and the estimated cost of repairs, as reasonably determined by Sellers Seller based on a report by an independent construction or architectural firm, is $500,000 250,000 or less for any individual Property (a "MINOR CASUALTY"), Closing will occur with no reduction in the Purchase Price and at Closing: