No Material Damage. If the Property is not Materially Damaged, then neither Purchaser nor Seller shall have the right to terminate this Agreement, and Seller shall, at its option, either (i) repair the damage to the Property before the Closing in a manner reasonably satisfactory to Purchaser, or (ii) credit Purchaser at Closing for the reasonable cost to complete the repair relating to those elements of the Property (in which case Seller shall retain all insurance proceeds and Purchaser shall assume full responsibility for all needed repairs to those elements of the Property or (iii) assign the right to collect insurance proceeds to the Purchaser.
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Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
No Material Damage. If the Property is Properties are not Materially Damaged, then neither Purchaser nor Seller Buyer shall not have the right to terminate this Agreement, and Seller Sellers shall, at its option, either (i) repair the damage to the Property before the Closing in a manner reasonably satisfactory to PurchaserBuyer, or (ii) credit Purchaser Buyer at Closing for the reasonable cost to complete the repair relating to those elements of the Property (in which case Seller Sellers shall retain all insurance proceeds and Purchaser Buyer shall assume full responsibility for all needed repairs to those elements of the Property or (iii) assign the right to collect insurance proceeds to the Purchaserrepairs).
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