Failure of Conditions to Close of Escrow. Escrow Holder shall be responsible for confirming, on or before the Close of Escrow, that the conditions to the Close of Escrow set forth in Sections 8.1 and 8.2 hereof, and as set forth elsewhere in this Agreement, have been satisfied. Purchaser and Seller hereby agree to deliver their Notices to Escrow Holder, on or before the Close of Escrow, of the satisfaction or waiver of all other conditions to the Close of Escrow hereunder, and, in the event that both Purchaser and Seller specifically notify and instruct Escrow Holder, in writing, to proceed to the Close of Escrow hereunder, all such other conditions to the Close of Escrow hereunder that are not otherwise satisfied shall be deemed to have been waived by both Purchaser and Seller. Escrow Holder shall not proceed to the Close of Escrow hereunder unless both Purchaser and Seller or their respective counsel specifically notify and instruct Escrow Holder to do so.
Failure of Conditions to Close of Escrow. In the event any of the conditions set forth in Paragraph 10.1 or Paragraph 10.2 are not timely satisfied or waived, for a reason other than the default of Buyer or Seller under this Agreement:
10.3.1 This Agreement, the Escrow and the rights and obligations of Buyer and Seller shall terminate, except as otherwise provided herein; and
10.3.2 Escrow Holder is hereby instructed to promptly return to Seller and Buyer all funds and documents deposited by them (including the return of the Xxxxxxx Money to Buyer), respectively, into Escrow which are held by Escrow Holder on the date of said termination (less, in the case of the party otherwise entitled to such funds, however, the amount of any cancellation charges required to be paid by such party).
Failure of Conditions to Close of Escrow. In the event that any of the conditions precedent to the Close of Escrow are not timely satisfied or waived, for a reason other than the default of Agency or Developer, the following shall apply:
Failure of Conditions to Close of Escrow. In the event any of the City’s Conditions Precedent to Closing or the Developer’s Conditions Precedent to Closing are not satisfied prior to the Outside Closing Date, then the respective rights of the parties shall be determined under Section 7.2.
Failure of Conditions to Close of Escrow. (i) If any of Buyer's Conditions to Close of Purchase Escrows or Seller's Conditions to Close of Purchase Escrows are not satisfied for a reason other than the Default of Buyer or Seller under this Agreement, and not waived, the Purchase Escrow shall terminate. Escrow Holder is instructed promptly to return to Seller and Buyer all funds and documents deposited by them, respectively, into the Purchase Escrow which are held by Escrow Holder on the date of termination (unless the party entitled to such funds is required to pay cancellation and other charges under the following subsection (g), in which case the Escrow Holder shall deduct the amount of the charges from the funds to which such party is entitled), and to record Buyer's quitclaim deed as to such Phase. Any portion of the Options Price applicable to any unclosed Phases shall also be returned to Buyer.
(ii) If Escrow fails to close because of a Default by Seller, or because of a Default by Buyer, the terms of Section 11 [entitled "Default"] shall be applicable and shall control. Buyer acknowledges its obligation under Section 8.1 of this Agreement to use commercially reasonable efforts to obtain a Final Map for each Unit, and that if the condition to its obligation to close set forth in subsection 4.7(c)(iv) above fails to occur because of Buyer's Default in performing such obligation, then the terms of Section 11 below shall be applicable and shall control.
Failure of Conditions to Close of Escrow. In the event of the non-satisfaction of a condition precedent to Buyer's obligations with respect to the Close of Escrow that is not the result of a Seller default, Buyer shall have the right to terminate the Agreement, Buyer shall be entitled to a return of the Deposit and Closing Extension Deposit (if delivered by Buyer) and the modifications to the Operating Agreement set forth in Section l.4.2.5 above shall be null and void.
Failure of Conditions to Close of Escrow. If any of the conditions set forth in Sections 2 or 3 are not timely satisfied or waived (by the party entitled to waive such condition), for a reason other than the default of Buyer or Seller under this Agreement, then (i) this Agreement, the Escrow and the rights and obligations of Buyer and Seller shall terminate, and the parties shall have no further obligations hereunder except for Buyer's surviving obligations and Seller's surviving obligations, except as otherwise provided herein; and (
Failure of Conditions to Close of Escrow. If any of the conditions set forth in Sections 4, 5 or 7 are not timely satisfied or waived by the party to whose benefit such condition inures, for a reason other than a breach of an obligation of Buyer or Seller under this Agreement, then (i) this Agreement, the Escrow and the rights and obligations of Buyer and Seller shall terminate, except as otherwise provided herein; and (ii) Escrow Holder is hereby instructed to promptly return to Seller and Buyer all funds (including the Deposit and all interest accrued thereon) and documents deposited by them, respectively, into Escrow which are held by Escrow Holder on the date of said termination; and (iii) the cancellation charges required to be paid by and to Escrow Holder and the Title Company shall be borne one-half (½) by Seller and one-half (½) by Buyer and all other charges shall be borne by the party incurring same.
Failure of Conditions to Close of Escrow. In the event any of the conditions set forth in Paragraph 6(a) or Paragraph 6(c) are not timely satisfied or waived, for a reason other than the default of Buyer or Seller under this Agreement:
(i) This Agreement, the Escrow and the rights and obligations of Buyer and Seller shall terminate, except as otherwise provided herein; and
(ii) Escrow Holder is hereby instructed to promptly return to Seller and Buyer any funds (including the Deposit and interest thereon unless Buyer is in default hereunder, and except to the extent the Deposit has been previously released to Seller as provided herein) and documents deposited by them, respectively, into Escrow which are held by Escrow Holder on the date of said termination (less, in the case of the party otherwise entitled to such funds, however, the amount of any cancellation charges required to be paid by such party under Paragraph 6(d)).
Failure of Conditions to Close of Escrow. If one or more of the Closing Conditions set forth in Sections 7.3 or 7.4 is not satisfied prior to the Outside Closing Date provided for in Section 7.2 and the benefited Party or Parties is not willing to waive the unsatisfied condition(s), then
(1) this Agreement, the Escrow, and the rights and obligations of Buyer and Seller shall terminate, except as otherwise expressly provided herein, (2) Buyer and Seller shall each pay fifty percent (50%) of Escrow Holder’s and Title Company’s cancellation charges, and (3) Escrow Holder is instructed promptly to return to Seller and Buyer any and all funds and documents deposited by them, respectively, into Escrow which are held by Escrow Holder on the date of such termination. This Section 7.6 is not intended to limit or restrict the remedies of a Party if the failure of one or more of the Closing Conditions is due to a Default by the other Party.
