Non-Material Condemnation. In the event of any Condemnation other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller shall assign to Purchaser all of Seller’s right, title and interest in all proceeds and awards from such Condemnation.
Appears in 15 contracts
Samples: Purchase and Sale Agreement (Braemar Hotels & Resorts Inc.), Purchase and Sale Agreement (Lincoln Educational Services Corp), Purchase and Sale Agreement (Lightstone Value Plus Real Estate Investment Trust V, Inc.)
Non-Material Condemnation. In the event of any Condemnation of any Real Property other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller shall assign to Purchaser all of Seller’s right, title and interest in all proceeds and awards from such Condemnation.
Appears in 4 contracts
Samples: Purchase and Sale Agreement (IMH Financial Corp), Purchase and Sale Agreement (Pebblebrook Hotel Trust), Purchase and Sale Agreement (Pebblebrook Hotel Trust)
Non-Material Condemnation. In the event of any Condemnation other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller shall assign to Purchaser all of Seller’s right, title and interest in all proceeds and awards from such CondemnationCondemnation by delivering an assignment instrument to Purchaser at Closing in form and substance reasonably satisfactory to Purchaser.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Sotherly Hotels Lp), Purchase and Sale Agreement (Sotherly Hotels Lp), Purchase and Sale Agreement (Apple Hospitality REIT, Inc.)
Non-Material Condemnation. In the event of any Condemnation of any Real Property other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, but shall proceed to the Closing, in which case Seller shall assign to Purchaser all of Seller’s right, title and interest in all proceeds and awards from such Condemnation.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Hyatt Hotels Corp), Purchase and Sale Agreement (Xenia Hotels & Resorts, Inc.)
Non-Material Condemnation. In the event of any Condemnation Condemnation, other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, Master Purchase and Sale Agreement but shall proceed to Closing, in which case case, Seller shall assign to Purchaser all of Seller’s right, title and interest in all proceeds and awards from such the Condemnation.
Appears in 2 contracts
Samples: Master Purchase and Sale Agreement (Hersha Hospitality Trust), Master Purchase and Sale Agreement (Hersha Hospitality Trust)
Non-Material Condemnation. In the event of any Condemnation of any Real Property other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller shall assign to Purchaser all of Seller’s 's right, title and interest in all proceeds and awards from such Condemnation.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Westin Hotels LTD Partnership), Agreement of Purchase and Sale (Apple Hospitality Five Inc)
Non-Material Condemnation. In the event If of any Condemnation Condemnation, other than a Material Condemnation, Purchaser Buyer shall not have the right to terminate this Agreement, Agreement but shall proceed to Closing, in which case case, Seller shall assign to Purchaser Buyer all of Seller’s right, title and interest in all proceeds and awards from such the Condemnation.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)
Non-Material Condemnation. In the event of any Condemnation of any Real Property other than a Material Condemnation, Purchaser Buyer shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller Owner shall assign to Purchaser Buyer all of SellerOwner’s right, title and interest in all proceeds and awards from such Condemnation.
Appears in 1 contract
Samples: Hotel Asset Purchase Agreement (Playa Hotels & Resorts B.V.)
Non-Material Condemnation. In the event of any Condemnation other than a Material Condemnation, Purchaser Buyer shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller Sellers shall assign to Purchaser Buyer all of Seller’s Sellers’ right, title and interest in all proceeds and awards from such CondemnationCondemnation (other than amounts applied by Sellers prior to Closing in connection with the repair of the applicable Property) by delivering an assignment instrument to Buyer at Closing in form and substance reasonably satisfactory to Buyer.
Appears in 1 contract
Samples: Purchase Agreement (Strategic Student & Senior Housing Trust, Inc.)
Non-Material Condemnation. In the event of any Condemnation other than a Material Condemnation, Purchaser shall not have the right to terminate this AgreementAgreement with respect to the Affected Hotel or otherwise, but shall proceed to Closing, in which case Seller the Sellers shall assign to Purchaser all of the applicable Seller’s right, title and interest in all claims, proceeds and awards from such Condemnation.
Appears in 1 contract
Samples: Omnibus Purchase and Sale Agreement (Clearview Hotel Trust, Inc.)
Non-Material Condemnation. In the event of any Condemnation other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller shall assign to Purchaser all of Seller’s right, title and interest in all proceeds and awards from such Condemnation.. ARTICLE XV
Appears in 1 contract
Samples: Purchase and Sale Agreement
Non-Material Condemnation. In the event of any Condemnation other than a Material Condemnation, Purchaser shall not have the right to terminate this Agreement, but shall proceed to Closing, in which case Seller (subject in all events to the terms and conditions applicable thereto under the Existing Loan Documents) shall assign to Purchaser all of Seller’s right, title and interest in all proceeds and awards from such Condemnation.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Clearview Hotel Trust, Inc.)
