Common use of FAILURE OF CONDITIONS TO PURCHASER'S OBLIGATIONS Clause in Contracts

FAILURE OF CONDITIONS TO PURCHASER'S OBLIGATIONS. In the event any one or more of the conditions to Purchaser's obligations are not satisfied or waived in whole or in part at any time prior to or as of the Closing, Purchaser, at Purchaser's option, shall be entitled to: (a) terminate this Agreement by giving written notice thereof to Seller, whereupon all moneys, if any, which have been delivered by Purchaser to Seller or the Title Company shall be immediately refunded to Purchaser and Purchaser shall have no further obligations or liabilities hereunder; or (b) proceed to Closing hereunder.

Appears in 3 contracts

Samples: Agreement of Sale and Purchase (Correctional Properties Trust), Agreement of Sale and Purchase (Correctional Properties Trust), Agreement of Sale and Purchase (Wackenhut Corrections Corp)

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FAILURE OF CONDITIONS TO PURCHASER'S OBLIGATIONS. In the event any one or more of the conditions to Purchaser's obligations are not satisfied or waived in whole or in part at any time prior to or as of the ClosingClosing of a Property, Purchaser, at Purchaser's option, shall be entitled to: (a) terminate this Agreement by giving written notice thereof to Seller, whereupon all moneys, if any, which have been delivered by Purchaser to Seller or the Title Company shall be immediately refunded to Purchaser and Purchaser shall have no further obligations or liabilities hereunder; or (b) proceed to Closing hereunder.

Appears in 2 contracts

Samples: Agreement of Sale and Purchase (Amc Entertainment Inc), Agreement of Sale and Purchase (Amc Entertainment Inc)

FAILURE OF CONDITIONS TO PURCHASER'S OBLIGATIONS. In the event any one or more of the conditions to Purchaser's obligations are not satisfied or waived in whole or in part at any time prior to or as of the Closing, Purchaser, at Purchaser's option, shall be entitled to: (a) terminate this Agreement by giving written notice thereof thereto to Seller, whereupon all moneys, if any, moneys which have been delivered by Purchaser to Seller or the Title Company (other than the Independent Consideration) shall be immediately refunded to Purchaser and neither Purchaser nor Seller shall have no any further obligations or liabilities hereunder; or (b) waive such failure of condition and proceed to Closing hereunder; or (c) pursue such other remedies as may be available to Purchaser.

Appears in 2 contracts

Samples: Agreement of Sale and Purchase (Ramsay Health Care Inc), Agreement of Sale and Purchase (Ramsay Health Care Inc)

FAILURE OF CONDITIONS TO PURCHASER'S OBLIGATIONS. In the event any one or more of the conditions to Purchaser's ’s obligations are not satisfied or waived in whole or in part at any time prior to or as of the Closingexpiration of the Due Diligence Period or the Closing as applicable, and provided such event is not caused by Purchaser’s actions or default(s) hereunder, Purchaser, at Purchaser's ’s option, shall be entitled to: (a) terminate this Agreement by giving written notice thereof to Seller, whereupon all moneys, if any, which have been delivered by Purchaser thereto to Seller or the Title Company shall be immediately refunded to Purchaser and Purchaser shall have no further obligations or liabilities hereunder, except those expressly surviving termination of this Agreement; or (b) proceed to Closing hereunder.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (NNN Healthcare/Office REIT, Inc.)

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FAILURE OF CONDITIONS TO PURCHASER'S OBLIGATIONS. In the event any one or more of the conditions to Purchaser's ’s obligations are not satisfied or waived in whole or in part at any time prior to or as of the Closing, and provided such event is not waived by Purchaser as contemplated by this Agreement, Purchaser, at Purchaser's ’s option, shall be entitled to: (a) terminate this Agreement by giving immediate written notice thereof to Seller, whereupon all moneys, if any, which have been delivered by Purchaser thereto to Seller on or prior to the Title Company Closing Date, upon which Purchaser shall be immediately refunded to Purchaser receive a prompt refund of the Exxxxxx Money, and Purchaser the Parties shall have no further obligations or liabilities hereunder; , or (b) proceed to Closing hereunderwith rights of specific performance.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Healthcare Realty Trust Inc)

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