Risk of Loss; Eminent Domain. If any portion of the Property is materially damaged by casualty before closing, or Seller negotiates with a governmental authority to transfer all or part of the Property in lieu of eminent domain proceedings, or if an eminent domain proceeding is initiated, Seller will promptly inform Buyer. Either party may cancel this Contract by written notxxx xo the other within 10 days from Buyer's receipt of Seller's notification, failing which Buyer xxll close in accordance with this Contract and receive all payments made by the government authority or insurance company, if any. TITLE
Risk of Loss; Eminent Domain. All risk of loss to the Property, including physical damage or destruction to the Property or its improvements due to any cause except ordinary wear and tear and loss caused by a taking in eminent domain, shall be borne by Seller until Closing. In the event of any destruction exceeding five percent (5%) of the Purchase Price or any taking or commencement of a taking by any governmental agency of a material portion of the Property, Buyer may, at Buyer’s sole discretion, terminate this PSA by written notice to Seller within ten (10) days of notice of the commencement of taking or event of destruction, in which event all the Xxxxxxx Money Deposit, together with any interest accrued thereon, shall be promptly refunded to Buyer. If Buyer does not terminate this PSA, the insurance or condemnation proceeds, or right to collect the same, shall be paid or assigned to Buyer at Closing.
Risk of Loss; Eminent Domain a. If, after the Effective Date and prior to the Closing Date, the Property or any portion thereof is damaged or destroyed, Seller shall immediately notify Buyer in writing and Buyer shall elect, within ten (10) days from and after such notice, by written notice to Seller, either:
Risk of Loss; Eminent Domain. Risk of damage or destruction to the Property by fire, casualty or otherwise shall remain with Seller until title and possession of the Property have been conveyed and transferred to Buyer at Closing. If, prior to the Closing, all or any part of the Property is damaged or destroyed, taken by eminent domain or if condemnation proceedings are commenced, Buyer may terminate this Agreement by delivery of written notice to Seller, and thereafter neither party shall have any further liability to the other except as otherwise expressly set forth in this Agreement. If Xxxxx does not elect to terminate this Agreement, and Buyer exercises the Option, then at Closing all insurance and condemnation proceeds received by Seller prior to Closing shall be credited to the Purchase Price.
Risk of Loss; Eminent Domain. If any portion of the Property is materially damaged by casualty before closing or Seller negotiates with a governmental authority to transfer all or part of the Property in lieu of eminent domain proceedings or an eminent domain proceeding is initiated, Seller will promptly inform Xxxxx. Either party may terminate this contract by written notice to the other within 10 days after Xxxxx’s receipt of Seller’s notification, and Xxxxx’s deposit(s) will be returned, failing which Buyer will close in accordance with this contract and receive all payments made by the governmental authority or insurance company, if any.
Risk of Loss; Eminent Domain. Seller shall have all risk of loss, damage or destruction due to fire or other casualty until the Closing Date. If at any time prior to Closing, all or any portion of any Property is destroyed or damaged as a result of fire or other casualty (other than the negligent or intentional act of Buyer or Buyer’s agents, employees, or contractors), or if any condemnation proceedings are threatened or initiated or notice of the initiation of any such eminent domain or condemnation proceedings is received by Seller, Seller shall promptly give notice thereof to Buyer, and unless Buyer elects to proceed to close with respect to the affected Property (in which event Seller shall deliver to Buyer at Closing, all insurance or condemnation proceeds for such Properties), the affected Property shall be deemed a Defect Property, and the terms of Section 3(b) above shall control with respect to said Defect Property. Effective upon Closing, Buyer shall have all risk of loss, damage or destruction due to fire or other casualty.
Risk of Loss; Eminent Domain. (a) If, prior to the Closing, all or any material portion of the Premises are damaged by fire, vandalism, acts of God or other casualty or cause, Seller shall promptly give Purchaser written notice of any such damage, together with Seller's estimate of the cost and period of repair and restoration. In any such event, Purchaser shall have the option of (i) taking the Premises at the Closing as-is together with the insurance proceeds or the right to receive the same and a credit against the Purchase Price for any deductible, or (ii) terminating this Agreement by delivering notice of its decision to Seller on or before the Closing. If pursuant to this Section 13(a), Purchaser elects to take the Premises as-is, together with the insurance proceeds or the right to receive the same, Seller agrees to permit Purchaser to participate in any loss adjustment negotiations, legal actions and agreements with the insurance company, and to assign to Purchaser at the Closing its rights to such insurance proceeds and will not settle any insurance claims or legal actions relating thereto without Purchaser's prior written consent.
Risk of Loss; Eminent Domain. 29 13. Broker's Commissions.....................................................30 14. Employees................................................................30 15. Assignment...............................................................30 15.
Risk of Loss; Eminent Domain. (a) If, prior to the Closing, all or any portion of the Buildings are damaged by fire, vandalism, acts of God or other casualty or cause, Seller shall promptly give Purchaser written notice of any such damage, together with Seller's estimate of the cost and period of repair and restoration. In any such event: (i) in the case of damage to the Buildings of less than $250,000.00 and from a risk "fully covered" by Seller's insurance, Purchaser shall take the Buildings at the Closing as-is, together with the insurance proceeds or the right to receive the same and a credit against the Purchase Price for any deductible; or (ii) in the case of either (1) damage to the Buildings of $250,000.00 or more, or (2) damage to the Buildings from a risk not covered by Seller's insurance, Purchaser shall have the option of (x) taking the Buildings at the Closing in accordance with item (i) above or (y) terminating this Agreement by delivering notice of its decision to Seller within fifteen (15) days of receipt of Seller's notice of any such damage. "
Risk of Loss; Eminent Domain a. If, after the Effective Date and prior to the Closing Date, the Real Property or any portion thereof is damaged or destroyed, Sellers shall immediately notify Buyer in writing and Buyer shall elect, within ten (10) days from and after such notice, by written notice to Sellers, either:
