DAMAGE TO THE PROPERTY. If the property is damaged, by fire or other casualty, after the Effective Date and before the Closing, the Seller will bear the risk of loss and the Buyer may cancel this Agreement without liability and the Escrow Money shall be returned to the Buyer. Alternatively, the Buyer will have the option of purchasing the Property at the agreed-upon Purchase Price and the Seller will credit the deductible, if any, and transfer to the Buyer at Closing any insurance proceeds or Seller's claim to any insurance proceeds payable for the damage. The Seller will cooperate with and assist the Buyer in collecting any such proceeds. The Seller shall not settle any insurance claim for damage caused by casualty without the consent of the Buyer. Furthermore, if any part of the Property, after the Effective Date and before the Closing, is taken in condemnation or under the right of eminent domain, or proceedings for such taking are pending or threatened, the Buyer may cancel this Agreement without liability and the Escrow Money will be returned to the Buyer. Alternatively, the Buyer will have the option of purchasing what is left of the Property at the agreed-upon Purchase Price and the Seller will transfer to the Buyer at Closing the proceeds of any award or the Seller's claim to any award payable for the taking. The Seller will cooperate with and assist the Buyer in collecting such an award.
DAMAGE TO THE PROPERTY. If there is a total destruction of the improvements on the Property or partial destruction of such improvements, the cost of restoration of which would exceed one-third (1/3) of the then replacement value of all improvements on the Property, by any cause whatsoever, whether or not insured against and whether or not the Premises are partially or totally destroyed, Landlord may within a period of one hundred eighty (180) days after the occurrence of such destruction, notify Tenant in writing that it elects not to so reconstruct or restore such improvements, in which event this Lease shall cease and terminate as of the date of such destruction.
DAMAGE TO THE PROPERTY. 6.13. If the Property or any part of it is damaged by reason of any fire, flood or other disaster, or by breach of the University’s obligations under the Tenancy, so as to make the Room unfit for occupation, the Tenant’s liability for rent or a fair proportion of it according to the nature and extent of the damage, shall cease. The liability for rent shall not recommence until all necessary remedial works are completed so as to make the Property and the Room fit for habitation. Any such reduction in rent shall not affect any other right to compensation that the Tenant may have. This provision does not apply where the damage is caused because of any act or failing of the Tenant or the Tenant’s visitors.
DAMAGE TO THE PROPERTY. (a) APPLICATION OF INSURANCE PROCEEDS. If property is damaged by fire or other casualty, the insurance proceeds paid on account of such damage shall be applied to payment of the amounts payable by Purchasers under this contract, even is such amounts are not then due to be paid, unless Purchasers make a permitted election described in the next paragraph. Such amounts shall be first applied to unpaid accrued interest and next to the installments to be paid as provided in this contract in the inverse order of their maturity. Such payment shall not postpone the due date of the installments to be paid pursuant to this contract or change the amount of such installments. The balance of insurance proceeds, if any shall be the property of the Purchasers.
DAMAGE TO THE PROPERTY. MAC will take every reasonable precaution in conducting the Works at the Property. MAC will not be liable in respect of:
DAMAGE TO THE PROPERTY. If the Property is damaged by fire or other casualty, this Lease shall remain in effect if the Landlord determines that it is in its best interests to restore the Property, and in such event the Landlord shall substantially restore the Property to its condition immediately preceding the damage, unless the damage was caused by the Tenant, or the officers, directors, employees, agents or invitees of the Tenant, and in such event the Tenant at its expense shall immediately restore the Property to its condition immediately preceding the damage. The Basic Annual Rent shall be abated for so much of the Leased Premises as may be untenantable during the period of repair and restoration, unless the damage was caused by the act or omission of the Tenant and then there shall be no abatement. The Landlord has the option to end the term of this Lease at a date stated in written Notice to the Tenant if in the reasonable judgment of the Landlord the Property cannot be restored with the available insurance proceeds, or if in the reasonable judgment of the Landlord it is not financially beneficial to the Landlord to restore the Property. Landlord's only obligation to repair or restore hereunder shall be limited to a basic building and the replacement of any interior work which may have originally been installed at Landlord's cost. The obligations of the Tenant to restore and repair the Property as set forth in this part of the Lease entitled "Damage to the Property" shall survive the end of the term of this Lease.
DAMAGE TO THE PROPERTY. The Property sustains damage during the Period of Insurance where the cost of rectification work exceeds 10% of the Property value. What IS NOT Insured The following are not insured by this Policy.
DAMAGE TO THE PROPERTY. You must not cause the damage to the property, the Council’s fixtures and fittings, any furniture provided by the Council or any common parts. You must also make sure the Council’s property does not deteriorate through neglect by you. You should notify the Council as soon as possible for repairs that are needed because of deliberate damage to the property. (Fair wear and tear is not deliberate damage).
DAMAGE TO THE PROPERTY. 1. If the property is damaged as a result of the intentional acts, negligence, carelessness, or misuse by Tenant, or guests of the Tenant, Tenant will be responsible for the repair costs incurred by Landlord. This includes damage to sign posts, mailboxes, or lawns etc.
DAMAGE TO THE PROPERTY. Should the Property, including the Premises, be damaged or destroyed, in whole or in part, by fire or any other act of God, the Member shall have no claim against the Company by reason of the Property, including the Premises, being unfit for use or enjoyment or for any other reason whatever.
