Nonmaterial Condemnation. If, prior to Closing, a taking or condemnation relating to the Property has occurred, or is threatened, which is not described in Section 11.1 above, the Closing shall take place as provided in this Agreement with no reduction of the Purchase Price, and Property Owner shall assign to CBL/OP at Closing, as part of the Intangible Property, all of Property Owner's right, title and interest in and to all proceeds resulting or to result from said condemnation and give a credit for any proceeds received prior to Closing.
Appears in 2 contracts
Samples: Eastland Medical Building Purchase and Sale Agreement and Joint Escrow Instructions (CBL & Associates Properties Inc), Purchase and Sale Agreement and Joint Escrow Instructions (CBL & Associates Properties Inc)
Nonmaterial Condemnation. If, prior to Closing, a taking or condemnation relating to the Property has occurred, or is threatened, which is not described in Section 11.1 above, the Closing shall take place as provided in this Agreement with no reduction of the Purchase PriceTotal Consideration, and Property Owner shall assign to CBL/OP the Company at Closing, as part of the Intangible Property, all of Property Owner's right, title and interest in and to all proceeds resulting or to result from said condemnation and give a credit for any proceeds received prior to Closing.
Appears in 2 contracts
Samples: Contribution Agreement and Joint Escrow Instructions (CBL & Associates Properties Inc), Contribution Agreement and Joint Escrow Instructions (CBL & Associates Properties Inc)
Nonmaterial Condemnation. If, prior to Closing, a taking or condemnation relating to the Property has occurred, or is threatened, which is not described in Section 11.1 above7.1, the Closing shall take place as provided in this Agreement with no reduction of the Purchase Price, and Property Owner Seller shall assign to CBL/OP Buyer at Closing, as part of the Intangible Property, all of Property OwnerSeller's right, title and interest in and to all proceeds resulting or to result from said condemnation and give a credit for any proceeds received prior to Closingcondemnation.
Appears in 1 contract
Samples: Agreement of Sale and Purchase and Joint Escrow Instructions (Glimcher Realty Trust)
Nonmaterial Condemnation. If, prior to Closing, a taking or condemnation relating to the Property has occurred, or is threatened, which is not described in Section 11.1 above7.1, the Closing shall take place as provided in this Agreement with no reduction of the Purchase Price, and Property Owner Seller shall assign to CBL/OP Buyer at Closing, as part of the Intangible Property, all of Property Owner's Seller’s right, title and interest in and to all proceeds resulting or to result from said condemnation and give a credit for any proceeds received prior to Closingcondemnation.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Glimcher Realty Trust)
