Common use of Obligation to Close on all Property Clause in Contracts

Obligation to Close on all Property. Except as expressly set forth in this Agreement, Buyer’s obligation to purchase the Property is not severable and Buyer must purchase all three of the properties comprising the Property (or alternatively, terminate with respect to all three). Similarly, except as expressly stated this Agreement, Seller’s obligations to sell the Property are not severable and Seller must sell all of the properties comprising the Property to Buyer.

Appears in 6 contracts

Samples: Purchase and Sale Agreement (Resource Real Estate Investors 6 LP), Purchase and Sale Agreement (Resource Real Estate Investors 7, L.P.), Purchase and Sale Agreement (Resource Real Estate Investors 7, L.P.)

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