Common use of Risk of Loss and Damage Prior to Closing Clause in Contracts

Risk of Loss and Damage Prior to Closing. (a) Risk of loss of the Tangible Assets shall pass to the Purchaser at the Closing, and the Company shall bear all risk of loss or damage to, or destruction of, the Tangible Assets until the Closing and the Purchaser shall bear all such risk of loss, damage and destruction after the Closing. If, prior to the Closing, any Tangible Assets are lost, damaged or destroyed and such loss, damage or destruction has not been completely replaced, repaired or otherwise rectified by the Closing, and if the Closing takes place, the Purchase Price will be reduced by an amount equal to the aggregate of:

Risk of Loss and Damage Prior to Closing. (a) Risk of loss of the Tangible Assets shall pass to the Purchaser at the Closing, and the Company Vendor shall bear all risk of loss or damage to, or destruction of, the Tangible Assets until the Closing Completion Date and the Purchaser shall bear all such risk of loss, damage and destruction after the Closing. If, prior to the Closing, any Tangible Assets are lost, damaged or destroyed and such loss, damage or destruction has not been completely replaced, repaired or otherwise rectified by the Closing, Closing and if the Closing Completion Date takes place, the Purchase Price will be reduced by an amount equal to the aggregate of:

Risk of Loss and Damage Prior to Closing. (a) Risk of loss of the Tangible Assets shall pass to the Purchaser at the Closing, and the Company Vendor shall bear all risk of loss or damage to, or destruction of, the Tangible Assets until the Closing and the Purchaser shall bear all such risk of loss, damage and destruction after the Closing. If, prior to the Closing, any Tangible Assets are lost, damaged or destroyed and such loss, damage or destruction has not been completely replaced, repaired or otherwise rectified by the Closing, and if the Closing takes place, the Purchase Price will be reduced by an amount equal to the aggregate of: