Adjacent Agreement Clause Samples

Adjacent Agreement. Closing on the sale of the Property pursuant to this Agreement and closing on the sale of the Adjacent Property pursuant to the Adjacent Agreement shall occur concurrently. In no event shall Seller be obligated to sell the Property nor shall Purchaser be required to purchase the Property without the concurrent Closing of the sale or purchase, respectively, of the Adjacent Property. Any default by Adjacent Purchaser under the Adjacent Agreement shall constitute a default by Purchaser under this Agreement. Any default by Seller under the Adjacent Agreement shall constitute a default by Seller under this Agreement. If the Adjacent Agreement is terminated for any reason prior to Closing, this Agreement shall terminate automatically, the Deposit shall be delivered to the party entitled to receive the Deposit (as defined under the Adjacent Agreement) under the Adjacent Agreement, and neither party shall have any further obligations or liabilities to the other party under this Agreement, except for obligations that expressly survive termination of this Agreement.