Common use of Failure of a Commission Closing Condition Clause in Contracts

Failure of a Commission Closing Condition. If any of the Commission Closing Conditions have not been satisfied on or before the Closing Date, then the Commission may, in its sole discretion, elect to either (i) extend the Closing Date for up to 30 days in order to permit Developer additional time in order to attempt to satisfy the Commission Closing Conditions, or (ii) terminate this Agreement by written notice to Developer, in which event the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement). The Commission shall have the right to unilaterally waive any Commission Closing Condition by written notice to Developer or by proceeding to the Closing.

Failure of a Commission Closing Condition. If any of the Commission Closing Conditions have not been satisfied on or before the Closing Date, then the Commission may, in its sole discretion, elect to either (i) extend the Closing Date for up to 30 days in order to permit Developer additional time in order to attempt to satisfy the Commission Closing Conditions, or (ii) terminate this Agreement by written notice to Developer, in which event the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement)) and the Xxxxxxx Money shall be promptly released to the Commission. The Commission shall have the right to unilaterally waive any Commission Closing Condition by written notice to Developer or by proceeding to the Closing.

Failure of a Commission Closing Condition. If any of the Commission Closing Conditions have not been satisfied on or before the Closing Date, then the Commission may, in its sole discretion, elect to either (i) extend the Closing Date for up such reasonable period as is required to 30 satisfy such conditions (not to exceed ninety (90) days in order to permit Developer additional time in order to attempt to satisfy the Commission Closing Conditions, or (ii) terminate this Agreement by written notice to Developer, in which event the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement). The Commission shall have the right to unilaterally waive any Commission Closing Condition by written notice to Developer or by proceeding to the Closing.or