Common use of CONTINGENCY NOTICE Clause in Contracts

CONTINGENCY NOTICE. (a) Prior to the expiration of the Contingency Period, Buyer shall deliver to Seller and the Title Company a written notice ("CONTINGENCY NOTICE") of its approval or disapproval of the Property, which shall be subject to Buyer's sole and absolute discretion. In the event that Seller does not receive a Contingency Notice approving the Property by the expiration of the Contingency Period, this Agreement shall be deemed to have been automatically terminated. (b) Subject to the provisions of subparagraph (c) below, the Contingency Notice for the Additional Properties must be consistent with the Contingency Notice for the Property in respect to Buyer's approval or disapproval of the Additional Properties. If the Contingency Notice is inconsistent, this Agreement shall terminate. (c) Notwithstanding the provisions of subparagraph (b) above, in the event that (i) the Other Seller terminates the Additional Property Agreement (the "2525 AGREEMENT") covering the Additional Property located at 0000 Xxxxxxx Xxxx Xxxxx, Xxxxxxxxxx, Xxxxxxxxxx, pursuant to SECTION 2.1(c) thereof, or (ii) Buyer terminates the 2525 Agreement for any reason, the effectiveness of this Agreement or the remaining Additional Property Agreements shall not be affected. In the event of the termination of the 2525 Agreement pursuant to the foregoing provisions, this Agreement shall remain in full force and effect, subject to the continued existence of the remaining Additional Property Agreements. (d) Additionally, in the event that the Xxxxxx Investors, one of the Other Sellers under the Additional Property Agreements. which owns that certain tract of land known as Tract A, terminates its Additional Property Agreement (the "TRACT A AGREEMENT") in accordance with the provisions of SECTION 2.1(c) the Tract A Agreement, Buyer, at its option, may elect (i) to terminate this Agreement and the remaining Additional Property Agreements, in which event the Xxxxxxx Money shall be returned to Buyer, or (ii) to keep this Agreement as well as the remaining Additional Property Agreements in full force and effect, in which event the parties shall consummate the transactions contemplated thereby in accordance with the respective terms and conditions of this Agreement and the remaining Additional Property Agreements.

CONTINGENCY NOTICE. (a) Prior to the expiration of the Contingency Period, Buyer shall deliver to Seller and the Title Company a written notice ("CONTINGENCY NOTICE") of its approval or disapproval of the Property, which shall be subject to Buyer's sole and absolute discretion. In the event that Seller does not receive a Contingency Notice approving the Property by the expiration of the Contingency Period, this Agreement shall be deemed to have been automatically terminated. (b) Subject to the provisions of subparagraph (c) below, the Contingency Notice for the Additional Properties must be consistent with the Contingency Notice for the Property in respect to Buyer's approval or disapproval of the Additional Properties. If the Contingency Notice is inconsistent, this Agreement shall terminate. (c) Notwithstanding the provisions of subparagraph (b) above, in the event that (i) the Other Seller terminates the Additional Property Agreement (the "2525 AGREEMENT") covering the Additional Property located at 0000 Xxxxxxx Xxxx Xxxxx, Xxxxxxxxxx, Xxxxxxxxxx, pursuant to SECTION 2.1(c) thereof, or (ii) Buyer terminates the 2525 Agreement for any reason, the effectiveness of this Agreement or the remaining Additional Property Agreements shall not be affected. In the event of the termination of the 2525 Agreement pursuant to the foregoing provisions, this Agreement shall remain in full force and effect, subject to the continued existence of the remaining Additional Property Agreements. (d) Additionally, in the event that the Xxxxxx Investors, one of the Other Sellers under the Additional Property Agreements. Agreements which owns that certain tract of land known as Tract A, terminates its Additional Property Agreement (the "TRACT A AGREEMENT") in accordance with the provisions of SECTION 2.1(c) the Tract A Agreement, Buyer, at its option, may elect (i) to terminate this Agreement and the remaining Additional Property Agreements, in which event the Xxxxxxx Money shall be returned to Buyer, or (ii) to keep this Agreement as well as the remaining Additional Property Agreements in full force and effect, in which event the parties shall consummate the transactions contemplated thereby in accordance with the respective terms and conditions of this Agreement and the remaining Additional Property Agreements.

CONTINGENCY NOTICE. (a) Prior to the expiration of the Contingency Period, Buyer shall deliver to Seller and the Title Company a written notice ("CONTINGENCY NOTICE") of its approval or disapproval of the Property, which shall be subject to Buyer's sole and absolute discretion. In the event that Seller does not receive a Contingency Notice approving the Property by the expiration of the Contingency Period, this Agreement shall be deemed to have been automatically terminated. (b) Subject to the provisions of subparagraph (c) below, the Contingency Notice for the Additional Properties must be consistent with the Contingency Notice for the Property in respect to Buyer's approval or disapproval of the Additional Properties. If the Contingency Notice is inconsistent, this Agreement shall terminate. (c) Notwithstanding the provisions of subparagraph (b) above, in the event that (i) the Other Seller terminates the Additional Property Agreement (the "2525 AGREEMENT") covering the Additional Property located at 0000 Xxxxxxx Xxxx Xxxxx, Xxxxxxxxxx, Xxxxxxxxxx, pursuant to SECTION 2.1(c2.1(C) thereof, or (ii) Buyer terminates the 2525 Agreement for any reason, the effectiveness of this Agreement or the remaining Additional Property Agreements shall not be affected. In the event of the termination of the 2525 Agreement pursuant to the foregoing provisions, this Agreement shall remain in full force and effect, subject to the continued existence of the remaining Additional Property Agreements. (d) Additionally, in the event that the Xxxxxx Investors, one of the Other Sellers under the Additional Property Agreements. Agreements which owns that certain tract of land known as Tract A, terminates its Additional Property Agreement (the "TRACT A AGREEMENT") in accordance with the provisions of SECTION 2.1(c) the Tract A Agreement, Buyer, at its option, may elect (i) to terminate this Agreement and the remaining Additional Property Agreements, in which event the Xxxxxxx Money shall be returned to Buyer, or (ii) to keep this Agreement as well as the remaining Additional Property Agreements in full force and effect, in which event the parties shall consummate the transactions contemplated thereby in accordance with the respective terms and conditions of this Agreement and the remaining Additional Property Agreements.2.1

CONTINGENCY NOTICE. (a) Prior to the expiration of the Contingency Period, Buyer shall deliver to Seller and the Title Company a written notice ("CONTINGENCY NOTICE") of its approval or disapproval of the Property, which shall be subject to Buyer's sole and absolute discretion. In the event that Seller does not receive a Contingency Notice approving the Property by the expiration of the Contingency Period, this Agreement shall be deemed to have been automatically terminated. (b) Subject to the provisions of subparagraph (c) and (d) below, the Contingency Notice for the Additional Properties must be consistent with the Contingency Notice for the Property in respect to Buyer's approval or disapproval of the Additional Properties. If the Contingency Notice is inconsistent, this Agreement shall terminate. (c) Notwithstanding the provisions of subparagraph (b) above, in the event that (i) the Other Seller terminates the Additional Property Agreement (the "2525 AGREEMENT") covering the Additional Property located at 0000 Xxxxxxx Xxxx Xxxxx, Xxxxxxxxxx, Xxxxxxxxxx, pursuant to SECTION 2.1(c2.1(C) thereof, or (ii) Buyer terminates the 2525 Agreement for any reason, the effectiveness of this Agreement or the remaining Additional Property Agreements shall not be affected. In the event of the termination of the 2525 Agreement pursuant to the foregoing provisions, this Agreement shall remain in full force and effect, subject to the continued existence of the remaining Additional Property Agreements. (d) Additionally, in the event that the Xxxxxx Investors, one of the Other Sellers under the Additional Property Agreements. Agreements which owns that certain tract of land known as Tract A, terminates its Additional Property Agreement (the "TRACT A AGREEMENT") in accordance with the provisions of SECTION 2.1(c) the Tract A Agreement, Buyer, at its option, may elect (i) to terminate this Agreement and the remaining Additional Property Agreements, in which event the Xxxxxxx Money shall be returned to Buyer, or (ii) to keep this Agreement as well as the remaining Additional Property Agreements in full force and effect, in which event the parties shall consummate the transactions contemplated thereby in accordance with the respective terms and conditions of this Agreement and the remaining Additional Property Agreements.2.1