Risk and Expense. The Owner may take part in any Internal or External Exchange at his/her own option, risk and expense. Any charges made and rules imposed by an Internal or External Exchange will not change or suspend the Charges and duties imposed on the Owner by this agreement and the Rules except that the Owner is not responsible for any Owner with whom he makes an Internal or External Exchange. The Owner using the Cottage in an Internal or External Exchange will be held responsible. The Owner must notify the Association in writing if that Owner takes part in an Exchange. An Owner must pay for his/her own Exchange and other fees.
Risk and Expense. The Owner may take part in any Internal or External Exchange at his/her own option, risk and expense. Any charges made and rules imposed by an Internal or External Exchange will not change or suspend the Charges and duties imposed on the Owner by this agreement and the Rules except that the Owner is not responsible The Owner must stay out of all Cottages and off the Property except that during his/her Confirmed Use Period (or during any Use Period he may get the use of through an Internal or External Exchange) he may use his/her Assigned Cottage. An Owner, however, is entitled to be an authorized Visitor or Renter of another Owner.
Risk and Expense. Seller shall bear the risks inherent in the ownership of the Assets until the Closing Date. Seller shall maintain in full force and effect the insurance policies currently covering the Assets through the Closing Date. Should either of the Rigs sustain damage in excess of $1,000,000 before the Closing Date, this Agreement shall immediately terminate. Should either of the Rigs suffer any damage that constitutes less than $1,000,000 between the date hereof and the Closing, Sellers shall at the Closing pay over to Buyer any insurance proceeds received by Sellers with respect to such damage, together with an amount equal to any insurance deductible or coinsurance amount applied against such damages.
Risk and Expense. Seller shall bear the risks inherent in the ownership of the Assets until the Final Delivery Date. Seller shall maintain in full force and effect the insurance policies currently covering the Assets through the Final Delivery Date. Should any of the Rigs (and/or components thereof) suffer any damage between the date hereof and the Delivery Date, at the option of the Buyer, (i) the Seller shall assign and/or pay over to Buyer any insurance proceeds receivable and/or received (as the case may be) by Sellers with respect to such damage, together with an amount equal to any insurance deductible or coinsurance amount applied against such damages or (ii) Buyer shall be entitled to deduct from the Purchase Price Balance payable on the Final Delivery Date an amount equal to the value of the damaged Assets.
