Common use of Minor Condemnation Clause in Contracts

Minor Condemnation. If, prior to Closing, a proceeding for condemnation is commenced against all or any portion of Property, and such proceeding does not materially adversely affect the use, occupancy or redevelopment of the Property, as reasonably determined by Seller and Purchaser, each acting reasonably and in good faith, then this Agreement shall continue in full force and effect and the Purchase Price shall not be reduced, but Purchaser shall be entitled to an assignment of all condemnation awards payable to Seller (other than any portion of such awards in respect of income lost prior to Closing or expended by or on behalf of Seller prior to Closing to restore the Property), and Seller shall have no obligation to repair or restore the Property.