Damage or Condemnation. Risk of loss resulting from any condemnation or eminent domain proceeding that is commenced or has been threatened before the Closing, and risk of loss to the Property due to fire, flood or any other cause before the Closing, shall remain with Seller. If before the Closing, the Property shall be materially damaged, or if the Real Property or any material portion thereof shall become subject to a bona fide threat of condemnation or shall become the subject of any proceedings, judicial, administrative or otherwise, with respect to the taking by eminent domain or condemnation (“Condemnation”), then Buyer may terminate this Agreement by written notice to Seller given within five (5) days after Buyer learns of such material damage or Condemnation, in which event
Appears in 2 contracts
Sources: Purchase and Sale Agreement (MPG Office Trust, Inc.), Purchase and Sale Agreement (MPG Office Trust, Inc.)