Common use of Condemnation or Casualty Clause in Contracts

Condemnation or Casualty. If prior to the Closing, the Owned Real Property or any part thereof is subject to an eminent domain or condemnation proceeding or any improvement thereon is damaged by fire, flood or other casualty, Sellers shall give written notice thereof to Buyers, and Buyers shall be entitled to any condemnation award or insurance proceeds resulting from any such event. At the Closing, Sellers shall execute and deliver all documents reasonably requested by Buyers to effectuate such assignment. Upon any assignment of a condemnation award or insurance proceeds, all risk of collection with respect thereto shall be on Buyers and not Sellers.

Condemnation or Casualty. If prior to the Closing, the Owned Real Property or any part thereof is subject to an eminent domain or condemnation proceeding or any improvement thereon is damaged by fire, flood or other casualty, Sellers shall give written notice thereof to BuyersBuyer, and Buyers Buyer shall be entitled to any condemnation award or insurance proceeds resulting from any such event. At the Closing, Sellers shall and shall cause the Company to execute and deliver all documents reasonably requested by Buyers Buyer to effectuate such assignment. Upon any assignment of a condemnation award or insurance proceeds, all risk of collection with respect thereto shall be on Buyers Buyer and not Sellers.

Condemnation or Casualty. If prior to the Closing, the Owned Real Property or any part thereof is subject to an eminent domain or condemnation proceeding or any improvement thereon is damaged by fire, flood or other casualty, Sellers shall give written notice thereof to BuyersBuyer, and Buyers Buyer shall be entitled to any condemnation award or insurance proceeds resulting from any such event. At the Closing, Sellers Seller shall and shall cause the Company to execute and deliver all documents reasonably requested by Buyers Buyer to effectuate such assignment. Upon any assignment of a condemnation award or insurance proceeds, all risk of collection with respect thereto shall be on Buyers Buyer and not SellersSeller.

Condemnation or Casualty. If prior to the Closing, the Owned Real Property or any part thereof is subject to an eminent domain or condemnation proceeding or any improvement thereon is damaged by fire, flood or other casualty, Sellers Seller shall give written notice thereof to BuyersBuyer, and Buyers Buyer shall be entitled to any condemnation award or insurance proceeds resulting from any such event. At the Closing, Sellers Seller shall and shall cause the Company to execute and deliver all documents reasonably requested by Buyers Buyer to effectuate such assignment. Upon any assignment of a condemnation award or insurance proceeds, all risk of collection with respect thereto shall be on Buyers Buyer and not SellersSeller.