Common use of Not Material Clause in Contracts

Not Material. If the Property is not Materially Damaged, then neither Purchaser nor Sellers shall have the right to terminate this Agreement, and Sellers shall, at their option, either (a) repair the damage before the Closing in a manner reasonably satisfactory to Purchaser (and if necessary, Sellers may extend the Closing Date up to 30 days to complete such repairs), or (b) credit Purchaser at Closing for the reasonable cost to complete the repair (in which case Sellers shall retain all insurance proceeds and Purchaser shall assume full responsibility for all needed repairs).

Not Material. If the Property is not Materially Damaged, then neither Purchaser nor Sellers Seller shall have the right to terminate this Agreement, and Sellers if such damage occurs on or prior to the Risk Transfer Date, Seller shall, at their its option, either (a) repair the damage before the Closing in a manner reasonably satisfactory to Purchaser (and if necessary, Sellers Seller may extend the Closing Date up to 30 days to complete such repairs), or (b) credit Purchaser at Closing for the reasonable cost to complete the repair (in which case Sellers Seller shall retain all insurance proceeds and Purchaser shall assume full responsibility for all needed repairsaccept the Property in its then-existing condition).

Not Material. If the Property is not Materially Damaged, then neither Purchaser nor Sellers Seller shall have the right to terminate this Agreement, and Sellers Seller shall, at their its option, either (a) repair the damage before the Closing in a manner reasonably satisfactory to Purchaser (and if necessary, Sellers Seller may extend the Closing Date up to 30 thirty (30) days to complete such repairs), or (b) credit Purchaser at Closing for the reasonable cost to complete the repair (in which case Sellers Seller shall retain all insurance proceeds and Purchaser shall assume full responsibility for all needed repairs).

Not Material. If the Property is not Materially Damaged, then neither Purchaser nor Sellers Seller shall have the right to terminate this Agreement, and Sellers Seller shall, at their its option, either (a) repair the damage before the Closing in a manner reasonably satisfactory to Purchaser (and if necessary, Sellers Seller may extend the Closing Date up to 30 days to complete such repairs), or (b) credit Purchaser at Closing for the reasonable cost to complete the repair (in which case Sellers Seller shall retain all insurance proceeds and Purchaser shall assume full responsibility for all needed repairs).