Common use of Buyer’s Due Diligence Notice Clause in Contracts

Buyer’s Due Diligence Notice. Buyer shall notify Seller in writing on or before the date that is thirty (30) days following the Effective Date (“Contingency Date” and the period between the Opening of Escrow and the Contingency Date shall be referred to as the “Contingency Period”), of Buyer’s approval or disapproval, in its sole and absolute discretion, of the Property Documents and of the condition of the Property as disclosed by the Tests (“Buyer’s Due Diligence Notice”). Any disapproval may state the matters objected to and the action Seller would be required to take to remediate or cure the objectionable matters to Buyer’s satisfaction. (i) Provided that Seller has delivered the Property Documents to Buyer within the time set forth in Section 4(a), Buyer’s failure to deliver the Buyer’s Due Diligence Notice on or before the Contingency Date shall be deemed Buyer’s disapproval of the Property Documents and condition of the Property. In such event of Buyer’s failure to deliver its Buyer’s Due Diligence Notice, then such failure shall be deemed Buyer’s election to terminate this Agreement.

Buyer’s Due Diligence Notice. Buyer shall notify Seller in writing on or before the date that is thirty fifteen (3015) days following the Effective Date (“Contingency Date” and the period between the Opening of Escrow and the Contingency Date shall be referred to as the “Contingency Period”), of Buyer’s approval or disapproval, disapproval in its sole and absolute discretion, discretion of the Property Documents and of the condition of the Property as disclosed by the Tests (“Buyer’s Due Diligence Notice”). Any disapproval may shall state the matters objected to and the action Seller would be required to take to remediate or cure the objectionable matters to Buyer’s satisfaction. (i) Provided that Seller has delivered the Property Documents to Buyer within the time set forth in Section 4(a), Buyer’s failure to deliver the Buyer’s Due Diligence Notice on or before the Contingency Date shall be deemed Buyer’s disapproval of the Property Documents and condition of the Property. In such event of Buyer’s failure to deliver its Buyer’s Due Diligence Notice, then such failure shall be deemed Buyer’s election to terminate this Agreement.