Escrow Cancellation Charges. If the Close of Escrow does not occur because of Seller's default, Seller shall be liable for any cancellation charges by Escrow Agent. If the Close of Escrow does not occur because of Buyer's default, Buyer shall be liable for any cancellation charges by Escrow Agent. If the Close of Escrow does not occur for any other reason, Seller and Buyer each shall be liable for one-half of any cancellation charges.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (CNL Growth Properties, Inc.)
Escrow Cancellation Charges. If the Close of Escrow does not occur fails to close because of Seller's default, Seller shall be liable for any cancellation charges by of Escrow AgentAgent charges. If the Close of Escrow does not occur fails to close because of Buyer's default, Buyer shall be liable for any cancellation charges by of Escrow Agent. If the Close of Escrow does not occur fails to close for any other reason, Seller Seller, on the one hand, and Buyer Buyer, on the other, shall each shall be liable for one-half of any cancellation chargescharges of Escrow Agent.
Appears in 1 contract
Escrow Cancellation Charges. If the Close of Escrow does not occur fails to close because of Seller's ’s default, Seller shall be liable for any cancellation charges by Escrow Agent. If the Close of Escrow does not occur fails to close because of Buyer's ’s default, Buyer shall be liable for any cancellation charges by Escrow Agent. If the Close of Escrow does not occur fails to close for any other reason, Seller and Buyer each shall be liable for one-half of any cancellation charges.
Appears in 1 contract
Samples: Purchase and Sale Agreement (CNL Growth Properties, Inc.)
