Common use of Minor Damage Clause in Contracts

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "major" (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's option, assigns to Purchaser all of Seller's right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the a Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the such Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time by up to thirty (30) days in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the amount of any deductible amount under Seller's insurance policyor self-insured amount. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that If Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "major" (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's option, assigns to Purchaser Buyer all of Seller's right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to PurchaserBuyer, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to PurchaserBuyer.

Minor Damage. In the event of loss or damage to the Real Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in questionquestion (other than business interruption proceeds attributable to the period prior to Closing). In the event that Seller elects to perform repairs upon the Real Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Outside Closing Date shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "major" a Major Loss (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's option, assigns to Purchaser Buyer all of Seller's right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises Property in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing Date shall be extended for a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to PurchaserBuyer, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's insurance policypolicy payable with respect to the Claim at the Property. Upon Closing, full risk of loss with respect to the Property shall pass to PurchaserBuyer.

Minor Damage. In the event of loss or damage to the Property Properties or any portion thereof which is not "major" “Major” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's option, assigns to Purchaser all of Seller's right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the PropertyProperties, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's insurance policy. Upon Closing, full risk of loss with respect to the Property Properties shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property Properties or any portion thereof which is not "major" (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's option, assigns to Purchaser all of Seller's right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's insurance policy. Upon Closing, full risk of loss with respect to the Property Properties shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "major" (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's option, assigns to Purchaser all of Seller's right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairsrepairs not to exceed sixty (60) days, provided said extension does not cause Purchaser's financing to lapse or the rate of said financing to increase. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defineddefined in Section 7.3 hereof), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that If Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing Date shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policypolicy(ies). Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly promptly, and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs (with such repairs (i) being done in a good and workmanlike manner and (ii) restoring the Property to substantially the condition in which it existed prior to such loss or damage) or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that If Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and the proceeds Seller may have actually receives with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use all reasonable and diligent efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim its insurance proceeds to Purchaser, such right to assign being subject to Seller actually receiving proceeds from its insurance claim, the date of Closing shall be extended to allow for Seller to obtain such proceeds and the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies (excluding any business interruption insurance proceeds attributable to the period prior to Closing) or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "“major" ” (as hereinafter defineddefined in Section 7.3 hereof), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s assignable right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that If Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing Date shall be extended a reasonable time by up to thirty (30) days in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policypolicy(ies). Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "major" a Major Loss (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairs. If Seller elects to assign a casualty claim to Purchaser, the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy, if any, attributable to such claim. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to one or more of the Property Projects or any portion portions thereof which is not "“major" ” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller performs any necessary repairs or, at Seller's ’s option, assigns to Purchaser all of Seller's ’s right, title and interest to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the PropertyProject(s), Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion of such repairspromptly. If Seller elects does not complete such repairs prior to Closing, Seller shall assign a its casualty claim to Purchaser. If Seller assigns its casualty claim to Purchaser, Purchaser shall receive a credit against the Purchase Price shall be reduced by an amount equal to the deductible amount under Seller's ’s insurance policy. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.

Minor Damage. In the event of loss or damage to the Property or any portion thereof which is not "major" “Major” (as hereinafter defined), this Agreement shall remain in full force and effect provided that Seller performs any necessary repairs or, at Seller's option, assigns shall assign to Purchaser all of Seller's ’s right, title and interest in and to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing which assignment shall be extended a reasonable time in order confirmed and agreed to allow for by either the completion of insurer or the condemning authority, as applicable if such repairsconfirmation or agreement is required to make the assignment legally effective. If Seller elects to assign a casualty claim to Purchaser, the The Purchase Price shall be reduced by an amount equal to the lesser of the deductible amount under Seller's ’s insurance policypolicy(s) or, if the loss is not covered by Seller’s insurance policy(s), then the Purchase Price shall be reduced by the cost of completing the repairs. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser.