Common use of Failure of Seller’s Conditions Precedent Clause in Contracts

Failure of Seller’s Conditions Precedent. If any of the condition(s) set forth in Section 9(b) have not been satisfied at the time required for Closing, then Seller may, at Seller’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 Purchaser 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 Purchaser’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 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, Seller shall be entitled to elect any of options (i), (ii) or (iv); or (iv) exercise Seller’s remedies under Section 12(a) below in the event the failure of the condition(s) precedent to be satisfied is due to Purchaser’s default pursuant to this Agreement.

Failure of Seller’s Conditions Precedent. If any of the condition(s) set forth in Section 9(b8(b) have not been satisfied at the time required for Closing, then Seller may, at Seller’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 Purchaser 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 Purchaser’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 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, Seller shall be entitled to elect any of options (i), (ii) or (iv); or (iv) exercise Seller’s remedies under Section 12(a11(a) below in the event the failure of the condition(s) precedent to be satisfied is due to Purchaser’s default pursuant to this Agreement.

Failure of Seller’s Conditions Precedent. If any of the condition(s) set forth in Section 9(b8(b) have not been satisfied at the time required for Closing, then Seller may, at Seller’s option, elect to: (i) waive the performance of the unsatisfied condition(s) {A1065860.DOCX / 1 PSA VT to City of Falls Church (CL) 007511 000063} and proceed to Closing in accordance with the terms of this Agreement, in which event Purchaser 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 Purchaser’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 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, Seller shall be entitled to elect any of options (i), (ii) or (iv); or (iv) exercise Seller’s remedies under Section 12(a11(a) below in the event the failure of the condition(s) precedent to be satisfied is due to Purchaser’s default pursuant to this Agreement.