Common use of Failure of Mutual Closing Condition Clause in Contracts

Failure of Mutual Closing Condition. If any Mutual Closing Condition is not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Parties shall have no further rights or obligations under this Agreement, except for those that expressly survive termination.

Appears in 4 contracts

Samples: Settlement and Release Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement

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Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Deposit shall be refunded to Purchaser in accordance with Section 3.2.4, and the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Lincoln Educational Services Corp), Purchase and Sale Agreement (Lincoln Educational Services Corp), Purchase and Sale Agreement (Lincoln Educational Services Corp)

Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Xxxxxxx Money shall be refunded to Purchaser in accordance with Section 3.2.4, and the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Chesapeake Lodging Trust), Purchase and Sale Agreement (Chesapeake Lodging Trust), Purchase and Sale Agreement (Pebblebrook Hotel Trust)

Failure of Mutual Closing Condition. If any Mutual Closing Condition is not satisfied at Closingby the Outside Closing Date, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case Party and the Parties shall have no further rights or obligations under this Agreement, except for those that expressly survive terminationtermination and provided that nothing herein shall relieve any Party of liability for any intentional breach of any provision of this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Alpine Acquisition Corp.)

Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement right, by providing written notice to the other Party, to terminate this Agreement, in which case the Xxxxxxx Money shall be refunded to Purchaser in accordance with Section 3.2.4, and the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Carey Watermark Investors Inc)

Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case case: (a) the Xxxxxxx Money, less the Independent Consideration, shall be refunded to Purchaser in accordance with Section 3.2.4; (b) following the release of the Xxxxxxx Money, the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.. 9.2

Appears in 1 contract

Samples: Purchase and Sale Agreement

Failure of Mutual Closing Condition. If any of the Mutual Closing Condition is Conditions are not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Xxxxxxx Money shall be refunded to Purchaser, and the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Apple Hospitality REIT, Inc.)

Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Xxxxxxx Money Deposit shall be refunded to Purchaser in accordance with Section 3.2.4, and the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Highland Hospitality Corp)

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Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Parties shall have no further rights or obligations under this Agreement, except for those that expressly survive termination.case:

Appears in 1 contract

Samples: Purchase and Sale Agreement (Forestar Group Inc.)

Failure of Mutual Closing Condition. If any the Mutual Closing Condition is not satisfied at ClosingClosing (subject to the adjournment rights described in Section 10.1), then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Deposit shall be refunded to Purchaser in accordance with the Deposit Escrow Agreement, and the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Braemar Hotels & Resorts Inc.)

Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement by providing written notice to the other Party, in which case the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Clearview Hotel Trust, Inc.)

Failure of Mutual Closing Condition. If any of the Mutual Closing Condition Conditions is not satisfied at Closing, then each Party shall have the right to terminate this Agreement right, by providing written notice to the other Party, to terminate this Agreement, in which case the Xxxxxxx Money shall be refunded to Purchaser in accordance with Section III.B.4, and the Parties shall have no further rights or obligations under this Agreement, except for those that which expressly survive such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (DiamondRock Hospitality Co)

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