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

Failure of Seller’s Conditions. If any of Seller’s Closing Conditions is not either fully satisfied or waived in writing before the Close of Escrow, then Seller may elect, by written notice to Buyer and Escrow Holder, to terminate this Agreement, in which event Buyer shall bear all Cancellation Charges (except as may be expressly provided otherwise in this Agreement) and the Parties shall have no further rights or obligations under this Agreement, except for the Surviving Obligations. Nothing in this Paragraph shall be construed to limit any of Seller’s rights or remedies under Paragraph 19 below in the event of a default by Buyer under this Agreement.

Failure of Seller’s Conditions. If any of Seller’s Closing Conditions is not either fully satisfied or waived in writing before the Close of Escrow, then Seller may elect, by written notice to Buyer and Escrow Holder, to terminate this Agreement, in which event Buyer shall bear all Cancellation Charges (except as may be expressly provided otherwise in this Agreement) and the Parties shall have no further rights or obligations under this Agreement, except for the Surviving Obligations. Nothing in this Paragraph shall be construed to limit any of Seller’s rights or remedies under Paragraph 19 20 below in the event of a default by Buyer under this Agreement.