Major CasualtyCondemnation

Major CasualtyCondemnation. Means: (a) any condemnation or eminent domain proceedings that occur after the date hereof, if and only if the portion of the Property that is the subject of such proceedings has a value in excess of Five Hundred Thousand and 00/100 Dollars ($500,000), as reasonably determined by Seller and Buyer; and (b) any casualty that occurs after the date hereof, if and only if either (i) the casualty is an uninsured casualty and Seller, in its sole and absolute discretion, does not elect to cause... the damage to be repaired or restored or give Buyer a credit at Closing for such repair or restoration, or (ii) the portion of the Property that is damaged or destroyed has a cost of repair that is in excess of Five Hundred Thousand and 00/100 Dollars ($500,000), as reasonably determined by both Parties. View More