Common use of Condition of Project Clause in Contracts

Condition of Project. None of the Projects are now damaged nor injured as a result of any fire, explosion, accident, flood or other casualty, where the risk of loss is not otherwise covered by insurance or exceeds $50,000 at such Project, subject to reasonable deductibles and not otherwise repaired.

Condition of Project. None of the Projects are now damaged nor injured as a result of any fire, explosion, accident, flood or other casualty, where the risk of loss is not otherwise covered by insurance or exceeds $50,000 100,000 at such Project, subject to reasonable deductibles and not otherwise repaired, unless otherwise notified and approved by Agent.”