Mutual Condition. The obligation of each of the Vendor and the Purchaser to complete the transactions contemplated by this Agreement is subject to title to the Property having been created as a separate legal parcel in accordance with the Land Title Act (British Columbia) by the date which 10 days prior to the Closing Date. The Parties acknowledge and agree that the foregoing mutual condition may only be satisfied as a matter of fact and cannot be waived by the parties. If such mutual condition has not been satisfied by the aforesaid date (as such date may be extended by agreement in writing), then this Agreement shall terminate and each of the parties hereto shall have no further obligations to, nor rights against, the other in respect of this Agreement.
Appears in 7 contracts
Samples: Option Agreement, Option Agreement, Zoning Amendment Bylaws
