Common use of Casualty Losses Clause in Contracts

Casualty Losses. In the event that there shall have been suffered between the date hereof and the Closing any casualty loss relating to the Assets that becomes known to Seller, Seller will promptly notify Purchaser of such event. Seller shall, to the extent practicable, repair, rebuild or replace the portion of the Assets damaged, destroyed or lost prior to the Closing Date. To the extent the repair, rebuild or replacement of the portion of the Assets damaged, destroyed or lost prior to the Closing Date is not practicable, then the Purchase Price shall be reduced by the amount, mutually acceptable to Purchaser and Seller, which is estimated by the parties to equal the out-of-pocket costs and expenses that Purchaser is reasonably likely to incur to repair, rebuild or replace, in accordance with cellular telephone industry practices, such damaged, destroyed or lost Assets after the Closing Date, and Seller shall retain all insurance proceeds payable as a result of the occurrence of the event resulting in such loss or damage.

Casualty Losses. In the event that there shall have been suffered between the date hereof and the Primary Closing any casualty loss relating to the Assets that becomes known to Seller, Seller will promptly notify Purchaser of such event. Seller shall, to the extent practicable, repair, rebuild or replace the portion of the Assets damaged, destroyed or lost prior to the Primary Closing Date. To the extent the repair, rebuild or replacement of the portion of the Assets damaged, destroyed or lost prior to the Primary Closing Date is not practicable, then the Purchase Price shall be reduced by the amount, mutually acceptable to Purchaser and Seller, which is estimated by the parties to equal the out-of-pocket costs and expenses that Purchaser is reasonably likely to incur to repair, rebuild or replace, in accordance with cellular telephone industry practices, such damaged, destroyed or lost Assets after the Primary Closing Date, and Seller shall retain all insurance proceeds payable as a result of the occurrence of the event resulting in such loss or damage.

Casualty Losses. In the event that there shall have been suffered between the date hereof and the Closing any casualty loss relating to the Assets that becomes known to Seller, Seller will promptly notify Purchaser of such event. Seller shall, to the extent reasonably practicable, repair, rebuild or replace the portion of the Assets damaged, destroyed or lost prior to the Closing Date. To the extent the repair, rebuild or replacement of the portion of the Assets damaged, destroyed or lost prior to the Closing Date is not reasonably practicable, then the Purchase Price shall be reduced by the amount, mutually acceptable to Purchaser and Seller, which is estimated by the parties to equal the out-of-pocket costs and expenses that Purchaser is reasonably likely to incur to repair, rebuild or replace, in accordance with cellular telephone industry practices, such damaged, destroyed or lost Assets after the Closing Date, and Seller shall retain all insurance proceeds payable as a result of the occurrence of the event resulting in such loss or damage.

Casualty Losses. In the event that there shall have been suffered between the date hereof and the Closing any casualty loss relating to the Assets that becomes known to Seller, Seller will promptly notify Purchaser of such event. Seller shall, to the extent practicable, repair, rebuild or replace the portion of the Assets damaged, destroyed or lost prior to the Closing Date. To the extent the repair, rebuild or replacement of the portion of the Assets damaged, destroyed or lost prior to the Closing Date is not practicable, then the Purchase Price shall be reduced by the amount, mutually acceptable to Purchaser and Seller, which is estimated by the parties to equal the out-of-pocket costs and expenses that Purchaser is reasonably likely to incur to repair, rebuild or replace, in accordance with cellular telephone industry practices, such damaged, destroyed or lost Assets after the Closing Date, and Seller shall retain all insurance proceeds payable as a result of the occurrence of the event resulting in such loss or damage. Notwithstanding the foregoing, in the event that Purchaser installs or modifies equipment pursuant to its rights under Section 9.04(d) hereof, Purchaser shall indemnify and hold harmless Seller from and against any losses incurred by Seller arising out of Purchaser's installation or modification of equipment prior to the Closing Date.