Common use of Substantial Portion Clause in Contracts

Substantial Portion. For purposes of this Section 14, a Substantial Portion of the Property shall mean any taking or casualty loss which decreases the value of the Property by Fifty Thousand Dollars ($50,000.00) or more ("Substantial Portion"). If, within ten (10) business days after Seller/Leaseholder's notice to Buyer described above, Seller/Leaseholder and Buyer are unable to reasonably agree after good faith efforts upon whether the taking or casualty loss involves a Substantial Portion of the Property, then this Agreement shall be deemed null and void and the refundable Earnest Money and all interest thereon shall be refunded to Buyer.

Substantial Portion. For purposes of this Section 14, a Substantial Portion of the Property shall mean any taking or casualty loss which decreases the value of the Property by Fifty Thousand Dollars ($50,000.00) or more ("Substantial Portion"). If, within ten (10) business days after Seller/Leaseholder's notice to Buyer described above, Seller/Leaseholder Seller and Buyer are unable to reasonably agree after good faith efforts upon whether the taking or casualty loss involves a Substantial Portion of the Property, then this Agreement shall be deemed null and void and the refundable Earnest Money and all interest thereon shall be refunded to BuyerBuye▇.