Repair of Damage; Condemnation. (a) In the event that prior to the Closing there is any damage to the Properties, or any part thereof, which has not been restored prior to Closing to substantially similar condition as immediately prior to the date such damage occurred, Buyer shall accept such Properties in their then-current condition, and Sellers shall remit to the Buyer the net amount of insurance proceeds actually received by Sellers with respect to such damage, and Buyer and Sellers shall proceed with the Closing.
Appears in 3 contracts
Samples: Stock Purchase Agreement (Club Corp International), Stock Purchase Agreement (Club Corp International), Stock Purchase Agreement (Meditrust Corp)
