Common use of EDA’s and Developer’s Options Clause in Contracts

EDA’s and Developer’s Options. In the event that any of the foregoing contingencies fail to be satisfied on or before the Closing Date, the Developer or the EDA, as the case may be, may: (a) terminate this Agreement; or (b) waive such failure and proceed to close; or (c) the Developer and EDA may mutually agree to extend the Closing Date. Section 4.5.

EDA’s and Developer’s Options. In the event that any of the foregoing contingencies fail to be satisfied on or before the Option Closing Date, the Developer or the EDA, as the case may be, may: (a) terminate this Agreement; or (b) waive such failure and proceed to close; provided that the contingencies in Section 4.3(1) are solely for the benefit of the Developer and may be waived only by the Developer and the contingencies in Section 4.3(2) are solely for the benefit of the EDA and may be waived only by the EDA; or (c) the Developer and EDA may mutually agree to extend the Closing Date. Section 4.5.