Notice of Damage to Property Clause Samples

The Notice of Damage to Property clause requires a party to promptly inform the other party if any property covered by the agreement is damaged. Typically, this involves providing written notification within a specified timeframe after the damage occurs, detailing the nature and extent of the damage. This clause ensures that all parties are made aware of property issues in a timely manner, allowing for appropriate responses such as repairs, insurance claims, or adjustments to obligations, thereby minimizing disputes and facilitating efficient resolution.
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Notice of Damage to Property. If any part of the Property is lost, damaged or destroyed by fire, condemnation or any other cause, Mortgagor will give prompt written notice to Mortgagee and, provided that a Default has not occurred, Mortgagor shall have the option, in accordance with and subject to Sections 6.4 and 7 hereof, to either: (a) promptly restore the Property to the equivalent of its original condition; or (b) use the proceeds of any insurance policy or condemnation award to make payments towards the unpaid balance of the Secured Obligations.
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Notice of Damage to Property. If any part of the Property is lost, damaged or destroyed by fire, condemnation or any other cause, Trustor will give immediate written notice to Beneficiary and, provided that an Event of Default has not occurred, Trustor shall have the option to either: (a) promptly restore the Property to the equivalent of its original condition; or (b) use the proceeds of any insurance policy or condemnation award to pay the unpaid principal balance due under the Note. If part of the Property shall be lost, physically damaged or destroyed through condemnation, Trustor will promptly restore, repair or alter the remaining property to its original condition or to the condition otherwise approved by Beneficiary.
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Related to Notice of Damage to Property

  • Damage to Property Of Others 1. We will pay, at replacement cost, up to $1,000 per "occurrence" for "property damage" to property of others caused by an "insured". 2. We will not pay for "property damage": a. To the extent of any amount recoverable under Section I;

  • Notice of Damage Upon the loss of, destruction of, or damage to any of the property, Contractor shall notify the HCA Contract Manager thereof within one (1) Business Day and shall take all reasonable steps to protect that property from further damage.

  • DAMAGE TO PREMISES In the event the Premises are destroyed or rendered wholly uninhabitable by fire, storm, earthquake, or other casualty not caused by the negligence of Tenant, this Agreement shall terminate from such time except for the purpose of enforcing rights that may have then accrued hereunder. The rental provided for herein shall then be accounted for by and between Landlord and Tenant up to the time of such injury or destruction of the Premises, Tenant paying rentals up to such date and Landlord refunding rentals collected beyond such date. Should a portion of the Premises thereby be rendered uninhabitable, the Landlord shall have the option of either repairing such injured or damaged portion or terminating this Lease. In the event that Landlord exercises its right to repair such uninhabitable portion, the rental shall ▇▇▇▇▇ in the proportion that the injured parts bears to the whole Premises, and such part so injured shall be restored by Landlord as speedily as practicable, after which the full rent shall recommence and the Agreement continue according to its terms.

  • Damage to Personal Property The Employer will provide reimbursement for reasonable repair or replacement of damages incurred to the employee's eyeglasses, contact lenses or other prosthesis, ripped uniforms, or personal clothing, as a result of being assaulted while performing his/her work. The employee must report the incident by the end of their shift. The employee will present her or his receipt to the Employer within seven (7) days after the event, unless it was impossible for her or him to do so during this period. The Employer will reimburse up to a maximum of one hundred dollars ($100) per incident except for eyeglasses, which shall have a maximum reimbursement of three hundred dollars ($300).

  • Damage to Equipment Each Party shall be responsible for damages to or loss of its own equipment. Each Party, and where applicable its insurer or coverage provider, waives the right to sue any other Party for any damages to or loss of its equipment, even if the damages or losses were caused wholly or partially by the negligence of any other Party or its officers, employees or volunteers.