Common use of New Information Clause in Contracts

New Information. The preceding notwithstanding, Seller shall promptly advise Buyer if Seller acquires any information following the Effective Date which would make any of the representations and warranties set forth in Section 8.2 above materially untrue; provided that it shall not be a breach of such representation or warranty if the new information which renders the representation or warranty materially untrue was not known as of the Effective Date. If Seller or Buyer acquires any new information following the Effective Date which would make any of the representations or warranties set forth in Section 8.2 above materially untrue, then, as Buyer’s sole remedy, Buyer shall have the right to terminate this Agreement by delivery of written notice to Seller and, in the event of such termination, all rights and obligations under this Agreement (except those that expressly survive the termination of this Agreement, including the Continuing Obligations) shall cease and the Deposit shall be promptly returned to Buyer; provided, however, if the new information causing any representation or warranty set forth in Section 8.2 above to be materially untrue is caused by an act(s) or omission(s) of Buyer or any of the agents, employees, contractors or other representatives of Buyer, then Buyer shall not have the right to terminate this Agreement or receive the return of Buyer’s Deposit as provided in this Section. If, prior to the Closing hereunder, Buyer becomes aware of any facts that make any of the representations or warranties set forth in Section 8.2 above materially untrue, but Buyer nevertheless elects to close Escrow hereunder, then Buyer shall be deemed to have waived any claim against Seller based on such representation or warranty that Buyer knew was materially untrue as of the Closing. The provisions of the immediately preceding sentence shall survive the Closing.

New Information. The preceding notwithstanding, Seller shall promptly advise Buyer if Seller acquires any information following the Effective Date which would make any of the representations and warranties set forth in Section 8.2 10.1 above materially untrue; provided that it shall not be a breach of such representation or warranty if the new information which renders the representation or warranty materially untrue was not known to Seller as of the Effective Date. If Seller or Buyer acquires any new information following the Effective Date which would make any of the representations or warranties set forth in Section 8.2 above materially 10.1 untrue, then, as Buyer’s sole remedy, Buyer shall have the right to terminate this Agreement by delivery of written notice to Seller and, in the event of such termination, all rights and obligations under this Agreement (except those that expressly survive the termination of this Agreement, including the Continuing Obligations) shall cease and the Deposit (together with all interest accrued thereon while in escrow) shall be promptly returned to Buyer; provided, however, if the new information causing any representation or warranty set forth in Section 8.2 above to be materially untrue is based on or caused by an act(s) or omission(s) of Buyer or any of the agents, employees, contractors or other representatives of Buyer, then Buyer shall not have the right to terminate this Agreement or receive the return of Buyer’s Deposit (or interest accrued thereon while in escrow) as provided in this Section. If, prior to the Closing hereunder, Buyer becomes aware of any facts that make any of the representations or warranties set forth in Section 8.2 above materially 10.1 untrue, but Buyer nevertheless elects to close Escrow escrow hereunder, then Buyer shall be deemed to have waived any claim against Seller based on such representation or warranty that Buyer knew was materially untrue as of the Closing. The provisions of the immediately preceding sentence shall survive the Closing.

New Information. The preceding notwithstanding, Seller shall promptly advise Buyer if Seller acquires any information following the Effective Date which would make any of the representations and warranties set forth in Section 8.2 10.1 above materially untrue; provided that it shall not be a breach of such representation or warranty if the new information which renders the representation or warranty materially untrue was not known by Seller as of the Effective Date. If Seller or Buyer acquires any new information following the Effective Date which would make any of the representations or warranties set forth in Section 8.2 above untrue and such new information materially untrueand adversely affects the value or Buyer’s use of the Property intended as of the Effective Date, then, as Buyer’s sole remedy, Buyer shall have the right to terminate this Agreement by delivery of written notice to Seller and, in the event of such termination, all rights and obligations under this Agreement (except those that expressly survive the termination of this Agreement, including the Continuing Obligations) shall cease and the Deposit paid by Buyer hereunder shall be promptly returned to Buyer as Buyer’s sole remedy; provided, however, if the new information causing any representation or warranty set forth in Section 8.2 above to be materially untrue is caused by an act(s) or omission(s) of Buyer or any of the agents, employees, contractors or other representatives of Buyer, then Buyer shall not have the right to terminate this Agreement or receive the return of Buyer’s Deposit as provided in this Section. If, prior to the Closing hereunder, Buyer becomes aware of any facts that make any of the representations or warranties set forth in Section 8.2 above materially untrue, but Buyer nevertheless elects to close Escrow hereunder, then Buyer shall be deemed to have waived any claim against Seller based on such representation or warranty that Buyer knew was materially untrue as of the Closing. The provisions of the immediately preceding sentence shall survive the ClosingClose of Escrow.