Common use of Other Damage Clause in Contracts

Other Damage. If Seller's Expense Estimate is less than Twenty Thousand Dollars ($20,000) for each Facility and such damage or destruction is covered by Seller's insurance coverage, Seller shall pay such applicable insurance proceeds, plus the amount of any applicable deductible, to Purchaser at Closing. If (i) such damage or destruction is not covered by Seller's insurance coverage, or (ii) such insurance proceeds are insufficient to cover the cost of repairing such damage or destruction and Seller does not pay such deficiency to Purchaser at Closing, then the Purchase Price shall be reduced by an amount equal to the cost of restoring the Premises in the case of subparagraph (i), or the amount of such deficiency in the case of subparagraph (ii).

Other Damage. If Seller's Expense Estimate is less than Twenty Thousand Dollars ($20,00020,000.00) for each Facility and such damage or destruction is covered by Seller's insurance coverage, Seller shall pay such applicable insurance proceeds, plus the amount of any applicable deductible, to Purchaser at Closingclosing. If (i) such damage or destruction is not covered by Seller's insurance coverage, or (ii) such insurance proceeds are insufficient to cover the cost of repairing such damage or destruction and Seller does not pay such deficiency to Purchaser at Closing, then the Purchase Price shall be reduced by an amount equal to (A) the cost of restoring the Premises in the case of subparagraph (i), or (B) the amount of such deficiency in the case of subparagraph (ii).