Failure of Conditions to Close of Escrow or Board of Directors Approval Sample Clauses

Failure of Conditions to Close of Escrow or Board of Directors Approval. If (i) by the Closing Date any of the conditions set forth in Sections 2.6 or 2.7 are not satisfied or waived, or (ii) by May 16, 2011 Buyer or Seller shall not have received the approval of their respective Board of Directors in accordance with Section 2.6(i) or 2.7(b), then in either case (unless otherwise agreed between the parties to extend the Closing Date or the date for Board of Director approval, as applicable): Each party shall promptly execute and deliver to Escrow Holder such documents as Escrow Holder may reasonably require to evidence the termination of the Escrow, and upon such termination, (a) Escrow Holder shall return all documents to the respective parties who delivered such documents to Escrow, (b) the cancellation charges required to be paid by and to Escrow Holder and the Title Company shall be borne by Seller, if any, (c) Buyer shall return to Seller all Property Information in Buyer’s possession relating to the Property, and any Due Diligence Reports (subject to Section 2.2(a)(1)(x)), (d) the respective obligations of Buyer and Seller under this Agreement shall terminate (except as to matters which expressly survive this Agreement and as provided in Section 7 if a condition is not satisfied due to the default by Buyer or Seller), and (e) Escrow Holder shall remit the Deposit together with any accrued interest on such funds as provided in Section 2.
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Related to Failure of Conditions to Close of Escrow or Board of Directors Approval

  • Company’s Conditions to Closing The Company’s obligation to issue and sell the Shares at the Closing is subject to the fulfillment as of the Closing of the following conditions (unless waived in writing by the Company):

  • Conditions to Closing of the Company The Company’s obligation to sell the Securities at the Closing is subject to the fulfillment to its satisfaction on or prior to the Closing Date of each of the following conditions:

  • CONDITIONS TO CLOSING OF COMPANY The Company's obligation to sell and issue the Shares at the Closing is, at the option of the Company, subject to the fulfillment or waiver of the following conditions:

  • Conditions to Closing Date This Agreement shall become effective upon, and the obligation of each Lender to make the initial Extensions of Credit on the Closing Date is subject to, the satisfaction of the following conditions precedent:

  • Conditions to Closing of the Investors Each Investor’s obligations at the Closing are subject to the fulfillment, on or prior to the Closing Date, of all of the following conditions, any of which may be waived in whole or in part by all of the Investors:

  • Purchaser’s Conditions to Closing The obligations of the Purchaser under this Agreement shall be subject to the satisfaction, on or prior to the Closing Date, of the following conditions:

  • Closing Conditions to Closing The Lender will not be obligated to make the initial Loans or to obtain any Letters of Credit on the Closing Date, unless the following conditions precedent have been satisfied in a manner satisfactory to Lender:

  • Buyer’s Conditions to Closing The obligation of Buyer to consummate the Closing is subject to the fulfillment of each of the following conditions (except to the extent waived in writing by Buyer in its sole discretion):

  • Conditions to Closing Each Purchaser’s obligation to purchase and pay for the Notes to be sold to such Purchaser at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at the Closing, of the following conditions:

  • Conditions to Close Escrow shall not close unless and until the following conditions precedent and contingencies have been satisfied or waived in writing by the party for whose benefit the conditions have been included:

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