Common use of Estoppel Remedies Clause in Contracts

Estoppel Remedies. If Seller either: (a) elects not to cure one or more of the Estoppel Objection Matters, provided such Estoppel Objection Matters are not Monetary Obligations that Seller is obligated to cure on or before the Closing pursuant to Section 5.1(f) hereof; or (b) fails to cure an Estoppel Objection Matter that Seller has elected to cure by the Closing, then Seller shall not be in default under this Agreement and, in such a case, Buyer may exercise one of the following options: (1) continue this Agreement in effect without modification and purchase and acquire the Property in accordance with the terms and conditions of this Agreement, subject to such Estoppel Objection Matters; or (2) terminate this Agreement and the Escrow pursuant to the provisions of Section 8.5(a) hereof, unless such Estoppel Objection Matters are the result of a breach by Seller of one or more of the provisions of Section 5.1 hereof, in which case the provisions of Section 8.6(a) shall govern.

Estoppel Remedies. If any Seller either: (a) elects not to cure one or more of the Estoppel Objection Matters, provided such Estoppel Objection Matters are not Monetary Obligations that Seller is obligated to cure on or before the Closing pursuant to Section 5.1(f) hereof; or (b) fails to cure an Estoppel Objection Matter that Seller has elected to cure by or to deliver an Estoppel Cure Agreement with respect to such Estoppel Objection Matter on or before the ClosingEstoppel Cure Deadline, then Seller shall not be in default under this Agreement as a result thereof and, in such a case, Buyer may exercise one of the following options: (1) continue this Agreement in effect without modification and purchase and acquire the Property in accordance with the terms and conditions of this AgreementAgreement and without any reduction in the Purchase Price, subject to such Estoppel Objection Matters; or (2) terminate this Agreement and the Escrow pursuant to the provisions of Section 8.5(a) hereof, unless one or more of such Estoppel Objection Matters are is the result of a breach by Seller of one or more of the provisions of Section 5.1 hereof, in which case the provisions of Section 8.6(a) shall govern.