Destruction of Property. If, on or before the Effective Date, any substantial portion of the fixed assets of any of the parties hereto shall suffer a loss of fire, flood, tornado, hurricane, riot, accident or other calamity, whether or not insured, to such an extent that in the opinion of EGPI there will be such a delay in repairing or replacing said assets so as to materially affect the future operations of any such party, then the other parties hereto may, at their sole option, terminate this Agreement without cost, expense, or liability to any party.
Appears in 4 contracts
Samples: Administrative Services Agreement (Egpi Firecreek, Inc.), Administrative Services Agreement (Redquartz Atlanta LLC), Administrative Services Agreement (Egpi Firecreek, Inc.)
Destruction of Property. If, on or before the Effective Date, any substantial portion of the fixed assets of any of the parties hereto shall suffer a loss of fire, flood, tornado, hurricane, riot, accident or other calamity, whether or not insured, to such an extent that in the opinion of EGPI Human BioSystems there will be such a delay in repairing or replacing said assets so as to materially affect the future operations of any such party, then the other parties hereto may, at their sole option, terminate this Agreement without cost, expense, or liability to any party.
Appears in 2 contracts
Samples: Plan and Agreement (Human Biosystems Inc), Plan and Agreement (Human Biosystems Inc)
Destruction of Property. If, on or before the Effective Date, any substantial portion of the fixed assets of any of the parties hereto shall suffer a loss of fire, flood, tornado, hurricane, riot, accident or other calamity, whether or not insured, to such an extent that in the opinion of EGPI Quality Resource Technologies there will be such a delay in repairing or replacing said assets so as to materially affect the future operations of any such party, then the other parties hereto may, at their sole option, terminate this Agreement without cost, expense, or liability to any party.
Appears in 2 contracts
Samples: Plan and Agreement of Triangular Merger (Quality Resource Technologies, Inc.), Plan and Agreement of Triangular Merger (Quality Resource Technologies, Inc.)
Destruction of Property. If, on or before the Effective Date, any substantial portion of the fixed assets of any of the parties hereto shall suffer a loss of fire, flood, tornado, hurricane, riot, accident or other calamity, whether or not insured, to such an extent that in the opinion of EGPI Global Earth there will be such a delay in repairing or replacing said assets so as to materially affect the future operations of any such party, then the other parties hereto may, at their sole option, terminate this Agreement without cost, expense, or liability to any party.
Appears in 1 contract
Samples: Plan and Agreement of Triangular Merger (Global Earth Energy, Inc.)
