Failure of Contingency Sample Clauses

Failure of Contingency. Except as otherwise provided, if any contingency cannot in good 107 faith be carried out, this Contract shall become void and the xxxxxxx money shall be returned 108 to Buyer pursuant to the provisions of Paragraphs 10 and 16 hereof.
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Failure of Contingency. No Party shall be obligated to close Escrow pursuant to this Agreement unless and until all contingencies in its favor set forth in this Agreement are satisfied or waived. To the extent that the failure of a contingency in a Party’s favor is the result of a breach or default by another Party, the non-defaulting Party(ies) shall have all rights and remedies provided in this Agreement against the defaulting Party.
Failure of Contingency. If any contingency under this Section 5 has not been satisfied within the time periods set forth above, then this Agreement may be terminated by written notice from Buyer to Seller, which notice shall be given not later than five (5) days following the expiration of the time period given for the applicable contingency, except for the notice under Section 5(d), which may be given after the Outside Closing Date. Upon any termination under this Section 5, the Deposit, and any interest earned thereon, shall be released to Buyer and neither party will have any further rights or obligations regarding this Agreement or the Property, except as expressly provided in those Sections hereof which expressly survive termination of this Agreement. In the event Buyer does not timely terminate this Agreement, the termination rights under this Section 5 shall be deemed waived and the parties shall proceed to Closing. Buyer may terminate this Agreement for any reason or no reason prior to the expiration of the last to occur of expiration of the Due Diligence Period and the Lease Completion Period.
Failure of Contingency. If any contingency provided herein shall not be met in whole or in part, then Purchaser may declare this agreement to be null and void.
Failure of Contingency. If any contingency provided herein shall not be met in whole or in part, then the City may declare this agreement to be null and void.
Failure of Contingency. The conditions contained in Subparagraphs 2.1 through 2.4 are intended solely for the benefit of the City. Except as otherwise expressly provided herein, if any of the foregoing conditions are not satisfied, and the City does not otherwise notify Seller in writing that the City has, in its sole discretion, elected to waive the condition in question and proceed with the transaction, then this Agreement shall automatically terminate and be of no further force or effect, whereupon, except as otherwise provided in this Agreement, neither party hereto will have any further rights, duties or obligations under this Agreement.
Failure of Contingency. In the event that Buyer elects to cancel this agreement pursuant to the contingencies contained in paragraphs (a) and (d) above, the Buyer shall give notice to the Sellers in writing by the date indicated.
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Failure of Contingency. If Purchaser gives Seller the 45-Day Notice, and if Purchaser subsequently elects, on or before the end of the Due Diligence Period, to terminate this Agreement, Purchaser shall so notify Seller in writing. Under such circumstances, the Initial Earnest Moxxx Xxxosit shall be delivered to Seller, subject to the provisions of Sections 5.4, 10.1, 10.2 and 14.1 hereof, and the parties shall have no further rights against or obligations to one another hereunder, except as otherwise expressly provided herein.

Related to Failure of Contingency

  • Failure of Condition If all of the conditions to Closing set forth above in Section 5.1.1 have not been satisfied by the Closing Date, provided the same is not the result of Developer’s failure to perform any obligation of Developer hereunder, Developer shall have the option to: (i) waive such condition and proceed to Closing hereunder; (ii) terminate this Agreement by written notice to District, whereby District will release the Initial Deposit to Developer and the Parties shall be released from any further liability or obligation hereunder except those that expressly survive termination of this Agreement; or (iii) delay Closing for up to three (3) months to permit District to satisfy the conditions to Closing set forth in Section 5.1.1. In the event Developer proceeds under clause (iii), Closing shall occur within thirty (30) days after the conditions precedent set forth in Section 5.1.1 have been satisfied, but if such conditions precedent have not been satisfied by the end of the three (3) month period, provided the same is not the result of Developer’s failure to perform any obligation of the Developer hereunder, the Developer may again proceed under clause (i) or (ii) above. The foregoing notwithstanding, Closing shall not occur after the Outside Closing Date. If Closing has not occurred by such date, this Agreement shall immediately terminate and be of no further force and effect, except those provisions that expressly survive termination.

  • Failure of Conditions None of the Company, Parent or Merger Sub may rely on the failure of any condition set forth in Section 7.1 to be satisfied to excuse performance by such party of its obligations under this Agreement if such failure was caused by such party’s failure to act in good faith and in a manner consistent with the terms of this Agreement.

  • FUNDING CONTINGENCY a. In the event funding from state, federal, or other sources is withdrawn, reduced, or limited in any way after the effective date of this Contract and prior to completion of the work in this Contract, DCYF may: (1) Terminate this Contract with ten (10) days advance notice. If this Contract is terminated, the parties shall be liable only for performance rendered or costs incurred in accordance with the terms of this Contract prior to the effective date of termination; (2) Renegotiate the terms of the Contract under the new funding limitations and conditions; (3) After a review of project expenditures and deliverable status, extend the end date of this Contract and postpone deliverables or portions of deliverables; or (4) Pursue such other alternatives as the parties mutually agree to in writing. b. Any termination under this Section (FUNDING CONTINGENCY) shall be considered a Termination for Convenience.

  • Construction Contingency The proposed GMP Change Order shall include, as a separately identified item, a Construction Contingency sum in an initial amount (subject to increase or decrease) against which Design-Builder can draw at its election for the purposes set forth in Section 4 Part 4. The initial Construction Contingency sum shall include the contingency amounts stated in all accepted Component Change Orders.

  • Financing Contingency The Buyer’s obligations herein are contingent on the Buyer’s obtaining financing to pay the balance on the Purchase Price. The Buyer must present to the Seller a binding commitment for financing the purchase of the Property within days from the Effective date. The terms of the financing must be acceptable to and approved by the Buyer who shall not unreasonably withhold such approval. In the event that the Buyer fails to obtain financing within the time allotted, this Agreement shall automatically terminated and all funds paid by the Buyer shall be returned to the Buyer after deducting all reasonable costs incurred by the Seller in good faith in relation this Agreement.

  • BUDGET CONTINGENCY If the Budget Act of the current year covered under this Grant Agreement does not appropriate sufficient funds for this program, this Grant Agreement shall be of no force and effect. This provision shall be construed as a condition precedent to the obligation of the State to make any payments under this Grant Agreement. In this event, the State shall have no liability to pay any funds whatsoever to the Grantee or to furnish any other considerations under this Grant Agreement and the Grantee shall not be obligated to perform any provisions of this Grant Agreement. Nothing in this Grant Agreement shall be construed to provide the Grantee with a right of priority for payment over any other Grantee. If funding for any fiscal year after the current year covered by this Grant Agreement is reduced or deleted by the Budget Act, by Executive Order, or by order of the Department of Finance, the State shall have the option to either cancel this Grant Agreement with no liability occurring to the State, or offer a Grant Agreement amendment to the Grantee to reflect the reduced amount.

  • No Failure to Cure Default The Seller has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;

  • No Financing Contingency By participating in this auction, bidders hereby agree that their bid shall NOT be subject to the bidder’s ability to obtain financing. Financing is NOT a contingency in the purchase agreement. However, if a bidder decides to purchase property with a loan, they should make sure they are approved for a loan and that lender is capable of completing on or before closing date.

  • Contingency If Buyer does not reveal a fact of contingency to the lender and this purchase does not record because of such nondisclosure after initial application, the Buyer shall be in default;

  • MORTGAGE CONTINGENCY A. This agreement is contingent upon Purchaser obtaining approval of a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or mortgage loan of $ for a term of no more than years at an initial fixed or adjustable nominal interest rate not to exceed % (percent). Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser’s receipt of the mortgage commitment or of Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , , then either Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of termination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser’s inability to obtain said mortgage approval, this agreement shall be cancelled, null and void, and all deposits made hereunder shall be returned to the Purchaser.

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