Failure of a Closing Condition. So long as a party is not in default (beyond any applicable notice and cure period) under this Agreement, the failure of any condition to such party’s obligation to consummate the Closing on or prior to the Closing Date (or such earlier date as may be expressly set forth in this Agreement) shall result in this Agreement being immediately terminable by such party upon delivery of written notice to the other party on or before the Closing Date (or such earlier termination deadline as may be expressly set forth in this Agreement). Alternatively, the applicable party may elect to waive the failure of the applicable Closing condition or conditions, in which event the parties shall proceed to Closing without modification of the Purchase Price and otherwise pursuant to the terms of this Agreement. Upon proper termination of this Agreement under this Section 5(c), neither party shall thereafter have any rights or obligations under this Agreement except for those which survive termination. This Section 5(c) shall survive Closing or the termination of this Agreement.
Appears in 6 contracts
Samples: Equity Interests Purchase and Sale Agreement (Aspire Real Estate Investors, Inc.), Equity Interests Purchase and Sale Agreement (Aspire Real Estate Investors, Inc.), Equity Interests Purchase and Sale Agreement (Aspire Real Estate Investors, Inc.)
