REGULATORY CONTINGENCIES. 26.1 Neither Party shall be liable for any delay or failure in performance by it which results from requirements of Applicable Law, or acts or failures to act of any governmental entity or official.
REGULATORY CONTINGENCIES. The intended use of the Property will be for a public charter school. Xxxxx’s performance of this Agreement and Xxxxx’s obligation to purchase the Property, will be contingent upon Buyer obtaining all required zoning, regulatory and third-party consents, approvals, licenses, authorizations and permits to permit the ongoing and continuous use of the Property for the intended purpose (the “Regulatory Approvals”). The Parties agree that the Closing will not occur until Buyer obtains the Regulatory Approvals. In the event Buyer does not obtain the Regulatory Approvals on or before September 30, 2023, Buyer will have the right to terminate this Purchase Agreement. If Buyer terminates this Purchase Agreement, Buyer will forfeit the Xxxxxxx Money to Seller. If this Purchase Agreement is terminated under this provision, Buyer will have no liability for such termination and neither party hereto will have any continuing obligations under the Purchase Agreement (excepting only those provisions that expressly survive the termination of this Agreement). DocuSign Envelope ID: 35282862-862A-48E3-81DF-E3B674E0CBAD DocuSign Envelope ID: 9D1683D5-5506-4CB1-B28E-74B10C43E1C9
REGULATORY CONTINGENCIES
