Common use of Minor Damage Clause in Contracts

Minor Damage. In the event that a Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$250,000, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs such damage is equal to or less than ten percent (10%) of the Purchase Price for such Propertynot a Major Damage, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property, $700,000.00 then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$250,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$750,000.00, then this transaction shall be closed in accordance with Section 11.311.4, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 11.4 below.

Minor Damage. In If the event that a Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$2,510,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$500,000, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$500,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price $500,000 for such PropertyProperty for which such damage or destruction has occurred, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, the applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the its Property, if such Repairs can be reasonably effected before the Closing. Regardless of the applicable Seller’s election to commence such Repairs, or the applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$500,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In If that the event that a Property is damaged or destroyed by fire or other casualty after the Effective Date, but prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$1,000,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$1,870,000.00, then this transaction shall be closed in accordance with Section 11.312.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 12.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$1,000,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$750,000, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$500,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs there is equal to or less than ten percent (10%) of the Purchase Price for such Propertyno Major Damage, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$1,000,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) $1,851,250.00, as reasonably estimated by Purchaser, and such fire or other casualty at the Property would not result in a termination right in favor of the Purchase Price for such Propertyany Major Tenant, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$500,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s 's election to commence such Repairs, or applicable Seller’s 's ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such PropertyApplicable Damage Amount, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$1,200,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$750,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$2,475,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a the Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$750,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In the event that a Property is damaged or destroyed by fire or other casualty prior to the Closing, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such PropertyApplicable Damage Amount, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.

Minor Damage. In If that the event that a Property is damaged or destroyed by fire or other casualty after the Effective Date, but prior to the ClosingRisk of Loss Transfer, and the cost of Repairs is equal to or less than ten percent (10%) of the Purchase Price for such Property$1,700,000.00, then this transaction shall be closed in accordance with Section 11.3, notwithstanding such casualty. In such event, applicable Seller may at its election endeavor to make such Repairs to the extent of any recovery from insurance carried on the Property, if such Repairs can be reasonably effected before the Closing. Regardless of applicable Seller’s election to commence such Repairs, or applicable Seller’s ability to complete such Repairs prior to Closing, this transaction shall be closed in accordance with Section 11.3 below.