Common use of Consequences of the Failure to Exercise the Option Clause in Contracts

Consequences of the Failure to Exercise the Option. Failure by the Optionee to exercise the Option shall cause the Optionee to lose the Deposits in favor of the Titleholder. The Deposits include the VAT and the Municipal Promotion Tax, as well as any other value added tax or sales tax that may replace them.

Consequences of the Failure to Exercise the Option. a) Failure by the Optionee to exercise the Option shall cause the Optionee to lose the Deposits in favor of the Titleholder. The Deposits do not include the VAT and or the Municipal Promotion Tax, as well as any other value added tax or sales tax that may replace them, which will be borne by the Optionee.