Common use of Failure of Buyer’s Closing Conditions Clause in Contracts

Failure of Buyer’s Closing Conditions. In the event one or more of Buyer’s conditions to the Closing set forth in Section 8.1 hereof are not satisfied or otherwise waived by Buyer on or before the Closing Date, and the failure of such conditions to be satisfied is not a result of a default by Seller or Buyer in the performance of their respective obligations under this Agreement, then Buyer shall have the right to terminate this Agreement and the Escrow by giving written notice of such termination to Seller prior to Closing. Upon any election by Buyer to terminate this Agreement and the Escrow pursuant to this Section 8.5(a), the provisions of Section 8.5(c) hereof shall govern.

Appears in 6 contracts

Samples: Purchase and Sale Agreement (Excel Trust, Inc.), Purchase and Sale Agreement (Excel Trust, Inc.), Purchase and Sale Agreement (Excel Trust, Inc.)

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Failure of Buyer’s Closing Conditions. In the event one or more of Buyer’s conditions to the Closing set forth in Section 8.1 hereof are not satisfied or otherwise waived by Buyer on or before the Closing Date, and the failure of such conditions to be satisfied is not a result of a default by Seller or Buyer in the performance of their respective obligations under this Agreement, then Buyer shall have the right to terminate this Agreement and the Escrow by giving written notice of such termination to Seller prior to ClosingSeller. Upon any election by Buyer to terminate this Agreement and the Escrow pursuant to this Section 8.5(a), the provisions of Section 8.5(c) hereof shall govern.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.), Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.), Purchase and Contribution Agreement (Pacific Office Properties Trust, Inc.)

Failure of Buyer’s Closing Conditions. In the event one or more of Buyer’s 's conditions to the Closing set forth in Section 8.1 hereof are not satisfied or otherwise waived by Buyer on or before the Closing Date or the Closing Date fails to occur on or before the Outside Closing Date, and the failure of such conditions to be satisfied satisfied, or Closing to occur, is not a result of a default by Seller or Buyer addressed in the performance of their respective obligations under this AgreementSection 8.6 hereof, then Buyer shall have the right to terminate this Agreement and the Escrow by giving written notice of such termination to Seller prior to the Closing. Upon any election by Buyer to terminate this Agreement and the Escrow pursuant to this Section 8.5(a), the provisions of Section 8.5(c) hereof shall govern.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.), Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.)

Failure of Buyer’s Closing Conditions. In the event one or more of Buyer’s conditions to the Closing set forth in Section 8.1 hereof are not satisfied or otherwise waived by Buyer on or before the Closing Date, and or in the failure of such conditions to be satisfied is not a result event of a default by Seller Material Loss or Buyer Condemnation Proceeding in accordance with Section 8.3, or in the performance of their respective obligations under event Buyer is otherwise entitled to terminate this AgreementAgreement in accordance with Section 9.18, then Buyer shall have the right to terminate this Agreement and the Escrow by giving written notice of such termination to Seller prior to Closing. Upon any election by Buyer to terminate this Agreement and the Escrow pursuant to this Section 8.5(a), the provisions of Section 8.5(c) hereof shall govern.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Excel Trust, L.P.)

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Failure of Buyer’s Closing Conditions. In the event one or more of Buyer’s 's conditions to the Closing set forth in Section 8.1 hereof are not satisfied by Seller or otherwise waived by Buyer on or before the Closing Date, and the failure of such conditions to be satisfied is not a result of a default by Seller or Buyer in the performance of their respective obligations under this Agreement, then Buyer shall have the right to terminate this Agreement and extend the Escrow by giving written notice Closing Date for such period of time as reasonably necessary for Seller to satisfy such termination condition, not to Seller prior to Closing. Upon any election by Buyer to terminate this Agreement and the Escrow pursuant to this Section 8.5(a), the provisions of Section 8.5(c) hereof shall govern.exceed sixty

Appears in 1 contract

Samples: Purchase and Sale Agreement

Failure of Buyer’s Closing Conditions. In the event one or more of Buyer’s conditions to the Closing set forth in Section 8.1 hereof are not satisfied by Seller or otherwise waived by Buyer on or before the Closing Date, and the failure of such conditions to be satisfied is not a result of a default by Seller or Buyer in the performance of their respective obligations under this Agreement, then Buyer shall have the right to terminate this Agreement and the Escrow by giving written notice of such termination to Seller prior to ClosingSeller. Upon any election by Buyer to terminate this Agreement and the Escrow pursuant to this Section 8.5(a), the provisions of Section 8.5(c) hereof shall govern.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Excel Trust, Inc.)

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