Common use of Failure to Close Escrow Clause in Contracts

Failure to Close Escrow. Notwithstanding the foregoing, if escrow does not close as herein provided, or any extension thereof in writing, this escrow shall terminate, Escrow Holder shall return all documents, things, and refundable monies deposited in escrow, to the respective parties, less Escrow Holder’s fees and costs. Escrow Holder shall remit directly to AGENCY the non-refundable Xxxxxxx Money Deposit, unless escrow does not close as a result of AGENCY’s material default hereunder, in which case, the Xxxxxxx Money Deposit shall be returned to BUYER. The parties shall release each other from any claims arising under the terms of this Agreement, except those terms expressly stated to survive such termination.

Failure to Close Escrow. Notwithstanding the foregoing, if escrow does not close as herein provided, or any extension thereof in writing, this escrow shall terminate, Escrow Holder shall return all documents, things, and refundable monies deposited in escrow, to the respective parties, less Escrow Holder’s fees and costs. Escrow Holder shall remit directly to AGENCY COUNTY the non-refundable Xxxxxxx Money Deposit, unless escrow does not close as a result of AGENCYthe COUNTY’s material default hereunder, in which case, the Xxxxxxx Money Deposit shall be returned to BUYER. The parties shall release each other from any claims arising under the terms of this Agreement, except those terms expressly stated to survive such termination.