Common use of Material Event Clause in Contracts

Material Event. If an Interruption Event (a) would result (in Purchaser’s reasonable opinion) in Restoration Costs (defined below) in excess of four percent (4%) of the Purchase Price or (b) in the event of a Condemnation, would prevent public access to the Property or result in any material and adverse loss of parking at the Property (which is defined as the loss of use of five percent (5%) or more of the Property’s parking stalls, or (c) would entitle ▇▇▇▇▇ to terminate its Lease (any such event is referred to herein as a “Material Event”), then Purchaser shall have the option to terminate this Agreement (by written notice given to Seller RFR Property Address: ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇▇ ▇▇▇▇▇, FL RFR Property No: 3339

Material Event. If an Interruption Event (a) would result (in Purchaser’s reasonable opinion) in Restoration Costs (defined below) in excess of four percent (4%) of the Purchase Price or (b) in the event of a Condemnation, would prevent public access to the Property or result in any material and adverse loss of parking at the Property (which is defined as the loss of use of five percent (5%) or more of the Property’s parking stalls, or (c) would entitle ▇▇▇▇▇ to terminate its Lease (any such event is referred to herein as a “Material Event”), then Purchaser shall have the option to terminate this Agreement (by written notice given to Seller RFR Property Address: ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇▇ ▇▇▇▇▇, FL RFR Property No: 3339Seller

Material Event. If an Interruption Event (a) would result (in Purchaser’s reasonable opinion) in Restoration Costs (defined below) in excess of four percent (4%) of the Purchase Price or (b) in the event of a Condemnation, would prevent public access to the Property or result in any material and adverse loss of parking at the Property (which is defined as the loss of use of five percent (5%) or more of the Property’s parking stalls, or (c) would entitle ▇▇▇▇▇ to terminate its Lease stalls (any such event is referred to herein as a “Material Event”), then Purchaser shall have the option to terminate this Agreement (by written notice given to Seller RFR Property Address: ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇▇ ▇▇▇▇▇, FL RFR Property No: 3339within fifteen (15) days of receipt of notice of the