Other Properties. As to each such Property so damaged which is other than an Oil and Gas Property, Seller shall, at Buyer’s election, either collect (and when collected pay over to Buyer) any insurance claims related to such damage, or assign to Buyer any insurance claims related to such damage, and Buyer shall take title to the Property affected by such loss without reduction of the Base Purchase Price as a result thereof. In either event Seller shall assign to Buyer all claims against third parties with respect to such damage.
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Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Imperial Petroleum Inc), Purchase and Sale Agreement (Apollo Resources International Inc)
Other Properties. As to each such Property so damaged which is other than an Oil and Gas Property, Seller shall, at BuyerSeller’s election, either (i) repair such damage or replace such Property, (ii) collect (and when collected pay over to Buyer) any insurance claims related to such damage, or (iii) assign to Buyer any insurance claims related to such damage, and Buyer shall take title to the Property affected by such loss without reduction of the Base Purchase Price as a result thereofPrice. In either event Seller shall assign maintain its current insurance program as it relates to Buyer all claims against third parties with respect to such damagethe Properties.
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