Material Casualty/Condemnation. In the event of a Material Casualty or a Material Condemnation, Buyer may, at its option to be exercised within 15 Business Days after receipt of notice of the occurrence of the damage or the actual or threatened commencement of condemnation proceedings, either terminate this Agreement with respect to the affected Property or consummate the purchase for the full Purchase Price allocated to such Property as required by the terms hereof.
Appears in 2 contracts
Samples: Agreement for Purchase (First Northwest Bancorp), Agreement (Finward Bancorp)
Material Casualty/Condemnation. In the event of a Material Casualty or a Material Condemnation, Buyer may, at its option to be exercised within 15 Business Days after receipt of notice of the occurrence of the damage or the actual or threatened commencement of condemnation proceedings, either terminate this Agreement with respect to the affected Property or or, subject to Seller’s rights pursuant to Section 7.4 above, consummate the purchase for the full Purchase Price allocated to such Property as required by the terms hereof.
Appears in 2 contracts
Samples: Agreement for Purchase and Sale (Plumas Bancorp), Agreement for Purchase and Sale (Plumas Bancorp)