Uniform Act. This Agreement shall be governed by the Uniform Vendor and Purchaser Risk Act as set forth in Section 1662 of the California Civil Code (“Act”) as supplemented by this ARTICLE 12. For purposes of the Act, (a) a taking by eminent domain of a portion of the Property shall be deemed to affect a “material part” of the Property if the estimated value of the portion of the Property taken exceeds ten percent (10%) of the Purchase Price or materially adversely affects the Property’s access or parking, and (b) the destruction of a “material part” of the Property shall be deemed to mean an insured or uninsured casualty to the Property following Buyer’s inspection of the Property and prior to the Close of Escrow having an estimated cost of repair which equals or exceeds twenty percent (20%) of the Purchase Price.
Uniform Act. This Agreement shall be governed by the Uniform Vendor and Buyer Risk Act as set forth in Section 1662 of the California Civil Code (“Act”) as supplemented by this Section 6. For purposes of the Act: (a) a taking, pending taking or threatened taking that is noticed in writing by eminent domain of a portion of the Properties shall be deemed to affect a “Material Part” of a Constituent Property if the Estimated Value of the portion of the subject Constituent Property taken exceeds ten percent (10%) of the Allocated Purchase Price or if the subject event would allow any Required Tenant to terminate its Lease (or if a Required Tenant alleges such right), unless such Required Tenant waives such right in a writing reasonably acceptable to Buyer, and (b) any destruction shall be deemed to affect a “Material Part” if (i) the Estimated Value of repair with respect to an event that is fully covered by Seller’s casualty insurance (other than commercially reasonable deductibles not to exceed Fifty Thousand Dollars ($50,000) exceeds ten percent (10%) of the Allocated Purchase Price, (ii) the Estimated Value of repair with respect to an event that is not fully covered by Seller’s casualty insurance exceeds Fifty Thousand Dollars ($50,000) with respect to such Constituent Property, or (iii) the subject event would allow any Required Tenant to terminate its Lease, unless such Required Tenant waives such right in a writing reasonably acceptable to Buyer.
Uniform Act. The Uniform Computer Information Transactions Act will not apply to this Agreement.
Uniform Act. Should this Lease be terminated for any reason, Lxxxxx hereby acknowledges, understands, agrees and waives any and all benefits under the Uniform Relocation Assistance and Page 15 of 20 LESSEE: LESSOR: Real Property Acquisition Policies Act of 1970 as amended, or any other benefits under similar acts applicable to Lessee, or the premises.
Uniform Act. This Agreement shall be governed by the Uniform Vendor and Buyer Risk Act as set forth in Section 1662 of the California Civil Code (“Act") as supplemented by this Section 6. For purposes of the Act, (a) a taking by eminent domain of a portion of the Property shall be deemed to affect a “material part” of the Property if the estimated value of the portion of the Property taken exceeds $750,000, and (b) the destruction of a “material part” of the Property shall be deemed to mean an insured or uninsured casualty to the Property following Buyer’s inspection of the Property and prior to the Close of Escrow having an estimated cost of repair which equals or exceeds $750,000.
Uniform Act. This Agreement shall be governed by the Uniform Vendor and Purchaser Risk Act as set forth in Section 1662 of the California Civil Code ("Act") as supplemented by this Section 7. For purposes of the Act, (a) a taking by eminent domain of a portion of the Property shall be deemed to affect a "material part" of the Property if the estimated value of the portion of the Property taken exceeds ten percent (10%) of the Purchase Price, and (b) the destruction of a "material part" of the Property shall be deemed to mean an insured or uninsured casualty to the Property following Buyer's inspection of the Property and prior to the Close of Escrow having an estimated cost of repair which equals or exceeds ten percent (10%) of the Purchase Price.
Uniform Act. This Agreement is entered into by the Town and the Seller as a Voluntary Sale as defined under the Uniform Relocation Assistance and Real Property Acquisition Policies Act, (The “Uniform Act,” 49 C.F.R. Part 24, [FHWA Docket No. FHWA–2003–14747]), per the Attachment in Section 24(a)(i) of this Purchase Agreement. As such, the Seller authorizes the Town to contact any and all occupants of the Property as identified in Section 5(d) of this Agreement, in person, in writing, or otherwise as required to deliver notification regarding the Property as provided at 49 C.F.R. Part 24. Examples of such notification include but are not limited to those provided as Attachments in Sections (24(a)(ii) and 24(a)(iii) of this Agreement.
Uniform Act. This Agreement shall be governed by the Uniform Vendor and Purchaser Risk Act as set forth in the California Civil Code (“Act”) as supplemented by this Section 8 and its subsections. For purposes of the Act, (a) a taking by eminent domain of a portion of the Property shall be deemed to affect a “material part” of the Property if the estimated value of the portion of the Property taken exceeds two and one-half percent (2 1/2%) of the Purchase Price, and (b) the destruction of a “material part” of the Property shall be deemed to mean an insured or uninsured casualty to the Property following Buyer’s inspection of the Property and prior to the Close of Escrow having an estimated cost of repair which equals or exceeds two and one-half percent (2 1/2%) of the Purchase Price.
Uniform Act. The parties shall have the rights and duties set forth in this Article VII rather than as prescribed by the Uniform Vendor and Purchaser Risk Act.
