Uninsured Casualty. 12.2.1 If, prior to the Close of Escrow, all or any portion of the property is damaged or destroyed by an uninsured casualty (including, without limitation, a casualty as to which coverage has been disclaimed by Seller's insurers), Seller shall promptly notify Buyer of such damage or destruction and of the Seller's reasonable estimate of the cost to Seller to repair the same of a reputable licensed contractor selected by Seller and reasonably approved by Buyer (the "Uninsured Estimate to Repair") and Seller's reasonable belief that such casualty is uninsured (the "Uninsured Casualty Notice").
Appears in 8 contracts
Samples: Purchase and Sale Agreement (Aspen Enterprises International Holdings LTD), Purchase and Sale Agreement and Joint Escrow Instructions (Starwood Hotel & Resorts Worldwide Inc), Purchase and Sale Agreement (Aspen Enterprises International Holdings LTD)
