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

Failure of Buyer’s Conditions. If any of Buyer’s Closing Conditions is not either fully satisfied or waived in writing before the Close of Escrow, then Buyer may elect, by written notice to Seller and Escrow Holder, to terminate this Agreement, in which event the Deposit shall be returned to Buyer, Seller shall bear all Cancellation Charges (except as may be expressly provided otherwise in this Agreement), and the Parties shall have no further rights or obligations under this Agreement, except for the Surviving Obligations. Nothing in this Paragraph shall be construed to limit any of Buyer’s rights or remedies under Paragraph 20 below in the event of a default by Seller under this Agreement (except that Buyer’s remedy for any such breach may be limited as set forth in Paragraph 18.3 below).

Failure of Buyer’s Conditions. If any of Buyer’s Closing Conditions is not either fully satisfied or waived in writing before the Close of Escrow, then Buyer may elect, by written notice to Seller and Escrow Holder, to terminate this Agreement, in which event the Deposit shall be returned to Buyer, Seller shall bear all Cancellation Charges (except as may be expressly provided otherwise in this Agreement), and the Parties shall have no further rights or obligations under this Agreement, except for the Surviving Obligations. Nothing in this Paragraph shall be construed to limit any of Buyer’s rights or remedies under Paragraph 20 below in the event of a default by Seller under this Agreement (except that Buyer’s remedy for any such breach default may be limited as set forth in Paragraph 18.3 19.3 below).