Common use of Failure of Condition Clause in Contracts

Failure of Condition. If any condition precedent to Seller’s obligation to effect the Closing (as set forth in Section 10.10) is not satisfied, then Seller shall be entitled to terminate this Agreement by notice thereof to Purchaser and Title Company. Subject to Section 10.9, if any condition precedent to Purchaser’s obligation to effect the Closing (as set forth in Section 10.8) is not satisfied by the Closing Date, then Purchaser shall be entitled to terminate this Agreement by notice thereof to Seller and Title Company. If the condition precedent to each party’s obligation to effect the Closing (as set forth in Section 10.11) is not satisfied, then either party shall be entitled to terminate this Agreement by notice thereof to the other party and the Title Company (if this Agreement is not terminated by its terms). If this Agreement is so terminated, then Purchaser shall be entitled to receive the Xxxxxxx Money Deposit (and all accrued interest thereon) and neither party shall have any further obligations hereunder, except for Termination Surviving Obligations. Notwithstanding the foregoing, if the applicable conditions precedent are not satisfied due to a default by Seller or Purchaser hereunder, then Article XIII shall govern and this Section 10.12 shall not apply.

Failure of Condition. If any condition precedent to Seller’s Sellers’ obligation to effect the Closing (as set forth in Section 10.10) is not satisfied, then Seller Sellers shall be entitled to terminate this Agreement by notice thereof to Purchaser and Title Company. Subject to Section 10.9, if any condition precedent to Purchaser’s obligation to effect the Closing (as set forth in Section 10.8) is not satisfied by the Closing Date, then Purchaser shall be entitled to terminate this Agreement by notice thereof to Seller Sellers and Title Company. If the condition precedent to each party’s obligation to effect the Closing (as set forth in Section 10.11) is not satisfied, then either party shall be entitled to terminate this Agreement by notice thereof to the other party and the Title Company (if this Agreement is not terminated by its terms). If this Agreement is so terminated, then Purchaser shall be entitled to receive the Xxxxxxx Money Deposit (and all accrued interest thereon) and neither no party shall have any further obligations hereunder, except for Termination Surviving Obligations. Notwithstanding the foregoing, if the applicable conditions precedent are not satisfied due to a default by Seller Sellers or Purchaser hereunder, then Article XIII shall govern and this Section 10.12 shall not apply.

Failure of Condition. If any condition precedent to Seller’s Sellers’ obligation to effect the Closing (as set forth in Section 10.10) is not satisfied, then Seller Sellers shall be entitled to terminate this Agreement by notice thereof to Purchaser and Title Company. Subject to Section 10.9, if any condition precedent to Purchaser’s obligation to effect the Closing (as set forth in Section -44- 10.8) is not satisfied by the Closing Date, then Purchaser shall be entitled to terminate this Agreement by notice thereof to Seller Sellers and Title Company. If the condition precedent to each party’s obligation to effect the Closing (as set forth in Section 10.11) is not satisfied, then either party shall be entitled to terminate this Agreement by notice thereof to the other party and the Title Company (if this Agreement is not terminated by its terms). If this Agreement is so terminated, then Purchaser shall be entitled to receive the Xxxxxxx Money Deposit (and all accrued interest thereon) and neither no party shall have any further obligations hereunder, except for Termination Surviving Obligations. Notwithstanding the foregoing, if the applicable conditions precedent are not satisfied due to a default by Seller Sellers or Purchaser hereunder, then Article XIII shall govern and this Section 10.12 shall not apply.