Common use of Acceptance Conditional Upon Cancellation of Another Accepted Offer to Purchase Clause in Contracts

Acceptance Conditional Upon Cancellation of Another Accepted Offer to Purchase. (Check only if the property is the object of another accepted conditional offer to purchase) The Seller declares that the property is the object of a conditional offer to purchase accepted on . Consequently, this offer to purchase is conditional upon the cancellation of the first offer to purchase. The Seller shall take the necessary steps to obtain the cancellation of the first offer to purchase as soon as all the conditions of this offer to purchase are fulfilled, excluding the present condition and the execution of the deed of sale. Should the Seller fail to notify the Buyer in writing of the cancellation of the first offer to purchase on or before 20 (allow for a deadline which takes into account the time period for the fulfilment of the conditions of this offer to purchase once it is accepted + 72 hours + 1 extra day), this offer to purchase shall become null and void. Receipt of a notice within the time period provided indicating that the first offer to purchase has been cancelled shall give full effect to this offer to purchase.

Acceptance Conditional Upon Cancellation of Another Accepted Offer to Purchase. (Check only if the property is the object of another accepted conditional offer to purchase, conditional upon paragraph 6.2.5) The Seller declares that the property is the object of a conditional offer to purchase accepted on . Consequently, this offer to purchase is conditional upon the cancellation of the first offer to purchase. The Seller shall take the necessary steps to obtain the cancellation of the first offer to purchase as soon as all the conditions of this offer to purchase are fulfilled, excluding the present condition and the execution of the deed of salecondition. Should the Seller fail to notify the Buyer in writing of the cancellation of the first offer to purchase on or before 20 (allow for a deadline which takes into account the time period for the fulfilment of the conditions of this offer to purchase once it is accepted + 72 hours + 1 extra day), this offer to purchase shall become null and void. Receipt of a notice within the time period provided indicating that the first offer to purchase has been cancelled shall give full effect to this offer to purchase.