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

Failure of Seller’s Conditions. If any one or more of the conditions to Seller's obligations, as set forth in Article V.B., Section 6.4 or elsewhere in this Agreement, is not either fully performed, satisfied or waived in writing (or deemed waived as provided herein) on or before the Closing Date or such earlier date as provided elsewhere herein, then Seller may elect, by written notice as provided in Section 11.10 hereof, to terminate this Agreement and neither party shall have any further obligation to the other (except as set forth in Sections 6.2(b) and 6.11 hereof).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pacific Gateway Properties Inc)

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Failure of Seller’s Conditions. If any one or more of the conditions to Seller's obligations, as set forth in Article V.B.IV.B, Section 6.4 5.4 or elsewhere in this Agreement, is not either fully performed, satisfied or waived in writing (or deemed waived as provided herein) on or before the Closing Date or such earlier date as provided elsewhere herein, then Seller may elect, by written notice as provided in Section 11.10 10.10 hereof, to terminate this Agreement and neither party shall have any further obligation to the other (except as set forth in Sections 6.2(b4.6, 2.5 [if Buyer shall be in default of this Agreement], 5.2(b) and 6.11 10.5 hereof).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Price Reit Inc)

Failure of Seller’s Conditions. If any one or more of the conditions to Seller's obligations, as set forth in Article V.B.IV.B, Section 6.4 5.4 or elsewhere in this Agreement, is not either fully performed, satisfied or waived in writing (or deemed waived as provided herein) on or before the Closing Date or such earlier date as provided elsewhere herein, then Seller may elect, by written notice as provided in Section 11.10 9.11 hereof, to terminate this Agreement and neither party shall have any further obligation to the other (except as set forth in Sections 6.2(b4.4, 5.2(b) and 6.11 9.6 hereof).

Appears in 1 contract

Samples: Credit Agreement (Price Reit Inc)

Failure of Seller’s Conditions. If any one or more of the conditions to Seller's obligations, as set forth in Article V.B.IV.B, Section 6.4 5.4 or elsewhere in this Agreement, is not either fully performed, satisfied or waived in writing (or deemed waived as provided herein) on or before the Closing Date or such earlier date as provided elsewhere herein, then Seller may elect, by written notice as provided in Section 11.10 10.10 hereof, to terminate this Agreement and neither party shall have any further obligation to the other (except as set forth in Sections 6.2(b4.6, 5.2(b) and 6.11 10.5 hereof).

Appears in 1 contract

Samples: Credit Agreement (Price Reit Inc)

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Failure of Seller’s Conditions. If any one or more of the conditions to Seller's obligations, as set forth in Article V.B., Section 6.4 5.5 or elsewhere in this Agreement, is not either fully performed, otherwise satisfied or waived in writing (or deemed waived as provided herein) on or before the Closing Date or such earlier date as provided elsewhere herein, then Seller may elect, by written notice as provided in Section 11.10 12.10 hereof, to terminate this Agreement and neither party shall have any further obligation to the other (except as set forth in Sections 6.2(b5.2(b) and 6.11 hereof12.5 hereof and this Section 5.10(b). Nothing in this paragraph shall be construed to limit Seller's rights under Section 2.4 in the event of a default by Buyer).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Ocwen Asset Investment Corp)

Failure of Seller’s Conditions. If any one or more of the conditions to Seller's obligations, as set forth in Article V.B., Section 6.4 or elsewhere in this Agreement, is not either fully performed, satisfied or waived in writing (or deemed waived as provided herein) on or before the Closing Date or such earlier date as provided elsewhere herein, then Seller may elect, by written notice as provided in Section 11.10 hereof, to terminate this Agreement and neither party shall have any further obligation to the other (except as set forth in Sections 6.2(b) and 6.11 11.2 hereof).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pacific Gateway Properties Inc)

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