Notice of Option Abandonment Sample Clauses

Notice of Option Abandonment. If the Authority fails to deliver a Notice of Exercise or Consent to Transfer within the above-stated time periods, then the Option shall terminate and have no further force and effect, and Owner may sell the Premises to a third party pursuant to paragraph 11 below and pay Excess Sales Proceeds to the Authority pursuant to paragraph 11 below. Thereafter, upon request by Owner and simultaneously with the close of escrow and payment to the Authority of Excess Sales Proceeds in accordance with paragraph 11 below, the Authority shall cause to be filed for recordation in the Office of the Recorder of the County of Marin a notice of option abandonment, which shall declare that the provisions of the Option are no longer applicable to the Premises. If the Authority fails to record a notice of 1220\07\201911.3_50 yrs Resale of Existing Revised 8/15/08 Item 12 Attachment 5 option abandonment, the sole remedy of Owner shall be to obtain a judicial order instructing such a recordation, and Owner shall have no right to damages against the Authority for failure to record such notice promptly.
Sample 1
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Notice of Option Abandonment. If the Authority fails to deliver a Notice of Exercise or Consent to Transfer within the above-stated time periods, then the Option shall terminate and have no further force and effect, and Owner may sell the Premises to a third party pursuant to paragraph 11 below and pay Excess Sales Proceeds to the Authority pursuant to paragraph 11 below. Thereafter, upon request by Owner and simultaneously with the close of escrow and payment to the Authority of Excess Sales Proceeds in accordance with paragraph 11 below, the Authority shall cause to be filed for recordation in the Office of the Recorder of the County of Marin a notice of option abandonment, which shall declare that the provisions of the Option are no longer applicable to the Premises. If the Authority fails to record a notice of option abandonment, the sole remedy of Owner shall be to obtain a judicial order instructing such a recordation, and Owner shall have no right to damages against the Authority for failure to record such notice promptly.
Sample 1

Related to Notice of Option Abandonment

  • CAFA Notice Pursuant to 28 U.S.C. § 1715, not later than ten (10) days after the Agreement is filed with the Court, the Settlement Administrator shall cause to be served upon the Attorneys General of each U.S. State in which Settlement Class members reside, the Attorney General of the United States, and other required government officials, notice of the proposed settlement as required by law, subject to Paragraph 5.1 below.

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  • Termination Notice for Force Majeure Event If a Force Majeure Event subsists for a period of 180 (one hundred and eighty) days or more within a continuous period of 365 (three hundred and sixty five) days, either Party may in its discretion terminate this Agreement by issuing a Termination Notice to the other Party without being liable in any manner whatsoever, save as provided in this Article 34, and upon issue of such Termination Notice, this Agreement shall, notwithstanding anything to the contrary contained herein, stand terminated forthwith; provided that before issuing such Termination Notice, the Party intending to issue the Termination Notice shall inform the other Party of such intention and grant 15 (fifteen) days time to make a representation, and may after the expiry of such 15 (fifteen) days period, whether or not it is in receipt of such representation, in its sole discretion issue the Termination Notice.

  • Termination for Cause with Notice to Cure Requirement Contractor may terminate this contract for the Department’s failure to perform any of its duties under this contract after giving the Department written notice of the failure. The written notice must demand performance of the stated failure within a specified period of time of not less than 30 days. If the demanded performance is not completed within the specified period, the termination is effective at the end of the specified period.

  • EXCLUSIVITY OF OPTION This Option to Purchase Agreement is exclusive and non-assignable and exists solely for the benefit of the named parties above. Should Buyer/Tenant attempt to assign, convey, delegate, or transfer this option to purchase without the Seller/Landlord’s express written permission, any such attempt shall be deemed null and void.

  • Termination with Notice Either the Director or the Company may terminate this Agreement by providing at least thirty (30) days prior written notice to the other party.

  • NOTICE OF DELAYS Except as otherwise provided under this Contract, when either party has knowledge that any actual or potential situation is delaying or threatens to delay the timely performance of this Contract, that party shall, within one (1) business day, give notice thereof, including all relevant information with respect thereto, to the other party.

  • Cancellation Notice Each of the insurance policies will be specifically endorsed to require the insurer to provide the Authority with 30 days written notice (or 10 days for non-payment of premium) prior to the cancellation of the policy. The endorsement will specify that such notice will be sent to: Hillsborough County Aviation Authority Attn.: Chief Executive Officer Tampa International Airport Post Office Box 22287 Xxxxx, Xxxxxxx 00000

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