Common use of Buyer Termination Right Clause in Contracts

Buyer Termination Right. Prior to the expiration of the Due Diligence Deadline, if Buyer determines in Buyer’s sole and absolute discretion that the Property is not acceptable for any reason whatsoever (or for no reason), Buyer shall have the right to terminate this Agreement, in which event Buyer shall deliver to Seller and Escrow Holder a written notice that Buyer elects to terminate this Agreement. Buyer's failure to terminate the Agreement in writing prior to the expiration of the Due Diligence Deadline shall be deemed to constitute Buyer’s waiver of such right of termination. If this Agreement is terminated by written notice to Seller and Escrow Holder delivered prior to the expiration of the Due Diligence Deadline, then (a) the Initial Deposit and Additional Deposit (to the extent made (but not the Independent Consideration)) shall be returned to Buyer, (b) Buyer shall return to Seller (or certify to Seller the destruction of) any and all materials, data and other information relating to the Property given to Buyer by or on behalf of Seller, and (c) thereafter neither party shall have any further rights or obligations under this Agreement except for the Surviving Obligations. The provisions of this Section 4.2 shall survive the Closing and any termination of this Agreement. In the event Buyer terminates the Parallel Agreement in accordance with Section 4.2 of the Parallel Agreement, Buyer shall be deemed to have terminated this Agreement pursuant to this Section 4.2.

Buyer Termination Right. Prior to the expiration of the Due Diligence Deadline, if Buyer determines in Buyer’s sole and absolute discretion that the Property is not acceptable for any reason whatsoever (or for no reason), Buyer shall have the right to terminate this Agreement, in which event Buyer shall deliver to Seller and Escrow Holder a written notice that Buyer elects to terminate this Agreement. Buyer's ’s failure to terminate the Agreement in writing prior to the expiration of the Due Diligence Deadline shall be deemed to constitute Buyer’s waiver of such right of termination. If this Agreement is terminated by written notice to Seller and Escrow Holder delivered prior to the expiration of the Due Diligence Deadline, then (a) the Initial Deposit and Additional Deposit (to less the extent made (but not the Independent Consideration)Option Money) shall be returned to BuyerBuyer and the Option Money shall be delivered to Seller, (b) Buyer shall return to Seller (or certify to Seller the destruction of) any and all materials, data and other information relating to the Property given to Buyer by or on behalf of Seller, and (c) thereafter neither party shall have any further rights or obligations under this Agreement except for the Surviving Obligations. The provisions of this Section 4.2 shall survive the Closing and any termination of this Agreement. In the event Buyer terminates the Parallel Agreement in accordance with Section 4.2 of the Parallel Agreement, Buyer shall be deemed to have terminated this Agreement pursuant to this Section 4.2.

Buyer Termination Right. Prior to the expiration of the Due Diligence Deadline, if Buyer determines in Buyer’s sole and absolute discretion that the Property is not acceptable for any reason whatsoever (or for no reason), Buyer shall have the right to terminate this Agreement, in which event Buyer shall deliver to Seller and Escrow Holder a written notice that Buyer elects to terminate this Agreement. Buyer's ’s failure to terminate the Agreement in writing prior to the expiration of the Due Diligence Deadline shall be deemed to constitute Buyer’s waiver of such right of termination. If this Agreement is terminated by written notice to Seller and Escrow Holder delivered prior to the expiration of the Due Diligence Deadline, then (a) the Initial Deposit less the Option Money and Additional Deposit (to the extent made (but not the Independent Consideration)) shall be returned to BuyerBuyer and the Option Money shall be delivered to Seller, (b) Buyer shall return to Seller (or certify to Seller the destruction of) any and all materials, data and other information relating to the Property given to Buyer by or on behalf of Seller, and (c) thereafter neither party shall have any further rights or obligations under this Agreement except for the Surviving Obligations. The provisions of this Section 4.2 shall survive the Closing and any termination of this Agreement. In the event Buyer terminates the Parallel Agreement in accordance with Section 4.2 of the Parallel Agreement, Buyer shall be deemed to have terminated this Agreement pursuant to this Section 4.2.