Failure of Purchaser’s Conditions Precedent. If any of the condition(s) set forth in Section 8(a) have not been satisfied at the time required for Closing, then Purchaser may, at Purchaser’s option, elect to: (i) waive the performance of the unsatisfied condition(s) and proceed to Closing in accordance with the terms of this Agreement, in which event Seller shall remain obligated to proceed with due diligence to complete after such Closing, at Seller’s expense, the satisfaction of all condition(s) which are Seller’s obligation to complete; (ii) terminate this Agreement in its entirety, in which event the parties shall be relieved of any further liability hereunder, except for those obligations which specifically survive such termination; (iii) extend the time for such Closing for up to six (6) months or such longer period as the parties may agree, but no longer than thirty (30) days after the actual time period needed to satisfy the unsatisfied condition(s); provided however, that in the event all such condition(s) have not been satisfied within said time period, Purchaser shall be entitled to elect any of options (i) or (ii) or (iv); or (iv) exercise Purchaser’s remedies under Section 11(b) below in the event the failure of the condition(s) precedent to be satisfied is due to Seller’s default either pursuant to this Agreement.
Failure of Purchaser’s Conditions Precedent. If any of the condition(s) set forth in Section 9(a) have not been satisfied at the time required for Closing, then Purchaser may, at Purchaser’s option, elect to: (i) waive the performance of the unsatisfied condition(s) and proceed to Closing in accordance with the terms of this Agreement, in which event Seller shall remain obligated to proceed with commercially reasonable efforts to complete after such Closing, at Seller’s expense, the satisfaction of all condition(s) which are Seller’s obligation to complete; (ii) terminate this Agreement in its entirety, in which event the Deposit shall be returned to Purchaser and thereafter the parties shall be relieved of any further liability hereunder, except for those obligations which specifically survive such termination; (iii) extend the time for Closing for up to six
Failure of Purchaser’s Conditions Precedent. In the event any of the aforesaid conditions precedent shall not have been satisfied or shall not exist on the Closing Date, then, unless Purchaser shall have waived in writing the satisfaction or existence of such condition precedent, in its election and in its sole and subjective discretion, Purchaser shall not be obligated to close the transaction contemplated hereby, and Purchaser shall be entitled to receive a return of the Deposit with any interest accrued thereon. If the failure of any condition precedent constitutes a default by Seller under this Agreement, Purchaser shall have the remedies provided by Section 14.1 herein; otherwise, upon receipt of the Deposit by Purchaser, Purchaser and Seller shall both be relieved of any further liability or obligation hereunder.
Failure of Purchaser’s Conditions Precedent. If the conditions precedent set forth in Section 10.01(a) above are not satisfied by Seller or waived by Purchaser prior to the Closing Date, then Purchaser shall have the option (in addition to any rights Purchaser may have under Section 13.02 below in the event that the non-satisfaction of a condition is a result of a breach or default by Seller) to either:
Failure of Purchaser’s Conditions Precedent. In the event any of the aforesaid conditions precedent to Purchaser’s obligation to close shall not have been satisfied or shall not exist on the Closing Date, then, unless Purchaser shall have waived in writing the satisfaction or existence of such condition precedent, in its election and in its sole and subjective discretion, Purchaser shall not be obligated to close the transaction contemplated hereby, and Purchaser shall be entitled to receive a return of the Deposit with any interest accrued thereon. If the failure of any condition precedent constitutes a default by Seller under this Agreement, Purchaser shall have the remedies provided by Section 14.1 herein; otherwise, upon receipt of the Deposit by Purchaser, Purchaser and Seller shall both be relieved of any further liability or obligation hereunder. The foregoing notwithstanding, if the Tenant estoppel condition described in Section 8.3 above is not fulfilled as of the Estoppel Return Date (as defined in Section 7.3(e) above), then, in addition to Purchaser’s options set forth above, Purchaser and Seller shall each have the option to extend the Closing Date for up to fourteen (14) days to allow Seller more time to obtain additional estoppel certificates (in which event Seller shall continue to use commercially reasonable efforts to obtain the necessary estoppel certificates); thereafter, if the Tenant estoppel condition is still not fulfilled on or before the expiration of the fourteen (14) day extension period, then Purchaser may elect to either waive the Tenant estoppel condition and close or terminate this Agreement and receive a return of the Deposit as provided above.
