Common use of Failure of Condition Precedent Clause in Contracts

Failure of Condition Precedent. In the event Purchaser’s Closing Conditions Precedent or Seller’s Closing Conditions Precedent, as the case may be, have not been satisfied or waived as of the scheduled Closing Date as the same may be extended as permitted above, and provided the failure to satisfy or waive any such condition is not attributable to a breach or default of this Agreement by Seller or Purchaser, as the case may be (in which event the provisions of Section 10 shall apply), this Agreement shall terminate (other than the Surviving Indemnity Obligations, which obligations shall survive any such termination) and the Xxxxxxx Money shall promptly be returned to Purchaser; provided, however, upon such termination Purchaser shall, at the request of Seller, execute any document reasonably requested by Seller to evidence such termination, including, without limitation, a quit claim deed. Upon such termination, neither party will have any further rights or obligations (other than the Surviving Indemnity Obligations, which shall survive any such termination) regarding this Agreement or the Subject Property.

Failure of Condition Precedent. In the event that Purchaser’s 's Closing Conditions Precedent or Seller’s 's Closing Conditions Precedent, as the case may be, have not been satisfied or waived as of the scheduled Closing Date as the same may be extended as permitted above, and provided the failure to satisfy or waive any such condition is not attributable to a breach or default of this Agreement by Seller or Purchaser, as the case may be (in which event the provisions of Section 10 SECTION 12 shall apply), this Agreement shall terminate (other than the Surviving Indemnity Obligationsobligations of Purchaser and Seller set forth in SECTIONS 4(D), 15 and 16 hereof, which obligations shall survive any such termination) and the Xxxxxxx Money Escrow Agent Deposit shall promptly be returned to Purchaser; Purchaser and Seller shall retain the Firm Deposit, provided, however, upon such termination Purchaser shall, at the request of Seller, execute any document documents reasonably requested by Seller to evidence such termination, including, without limitation, a quit claim deeddeeds. Upon such termination, neither party will have any further rights or obligations (other than except the Surviving Indemnity Obligationsobligations of Purchaser and Seller under SECTIONS 4(D), 15 and 16 hereof, which obligations shall survive any such termination) regarding this Agreement or the Subject Property).

Failure of Condition Precedent. In the event that Purchaser’s 's Closing Conditions Precedent or Seller’s 's Closing Conditions Precedent, as the case may be, have not been satisfied or waived as of the scheduled Closing Date as the same may be extended as permitted above, and provided the failure to satisfy or waive any such condition is not attributable to a breach or default of this Agreement by Seller or Purchaser, as the case may be (in which event the provisions of Section 10 11 shall apply), this Agreement shall terminate (other than the Surviving Indemnity Obligationsobligations of Purchaser and Seller set forth in Sections 3(b), 14 and 15 hereof, which obligations shall survive any such termination) ), and the Xxxxxxx Money shall promptly be returned to Purchaser; , provided, however, upon such termination Purchaser shall, at the request of Seller, execute any document reasonably requested by Seller to evidence such termination, including, without limitation, a quit claim deed. Upon such termination, neither party will have any further rights or obligations (other than except the Surviving Indemnity Obligationsobligations of Purchaser under Section 3(b) and the obligations of Purchaser and Seller set forth in Sections 14 and 15 hereof, which obligations shall survive any such termination) regarding this Agreement or the Subject Property).

Failure of Condition Precedent. In the event that Purchaser’s Closing Conditions Precedent or SellerPartnership’s Closing Conditions Precedent, as the case may be, have not been satisfied or waived as of the scheduled Closing Date as the same may be extended as permitted above, and provided the failure to satisfy or waive any such condition is not attributable to a breach or default of this Agreement by Seller Partnership or Purchaser, as the case may be (in which event the provisions of Section 10 12 shall apply), this Agreement shall terminate (other than the Surviving Indemnity Obligations, which obligations shall survive any such termination) with respect to the entire Portfolio (except as specifically provided in Section 20 hereof), and the Xxxxxxx Money Money, together with all interest earned thereon, shall promptly be returned to Purchaser; , provided, however, upon such termination Purchaser shall, at the request of SellerPartnership, execute any document documents reasonably requested by Seller Partnership to evidence such termination, including, without limitation, a quit claim deeddeeds. Upon such termination, neither party will have any further rights or obligations regarding this Agreement or the Subject Property (other than except for the Surviving Indemnity Obligations, which obligations shall survive any such termination) regarding this Agreement or the Subject Property).