Common use of Rescission Period Clause in Contracts

Rescission Period. Buyer shall have until the expiration of the Rescission Period to terminate this Contract by written Notice to Terminate delivered to Seller prior to the end of the Rescission Period (the “Rescission Notice”). If Buyer timely delivers a Rescission Notice, this Contract shall terminate and the Xxxxxxx Money shall be returned to Buyer. Seller shall not be required to proceed with construction or completion of the Unit until after the end of the Rescission Period. If Buyer does not provide a Rescission Notice within the Rescission Period, the Xxxxxxx Money deposit shall be non-refundable to Buyer and will be applied to the balance due as Purchase Price at Closing. Xxxxx acknowledges and agrees that Xxxxx is solely responsible for obtaining financing for Xxxxx’s purchase obligations hereunder and for otherwise performing Buyer’s obligations under this Contract. Seller will proceed with performance, including construction and completion of the Unit, in reliance upon Xxxxx’s determination that Xxxxx is fully ready, willing and able to perform hereunder. Absent a Rescission Notice, Xxxxx’s obligation to close and otherwise perform hereunder will not be subject to any conditions or contingencies, including, without limitation, the availability of Buyer’s financing, the sale of Buyer’s current residence or other property, or a satisfactory appraisal of the Unit.

Rescission Period. Buyer shall have until the expiration of the Rescission Period to terminate this Contract by written Notice to Terminate delivered to Seller prior to the end of the Rescission Period (the “Rescission Notice”). If Buyer timely delivers a Rescission Notice, this Contract shall terminate and the Xxxxxxx Money shall be returned to Buyer. Seller shall not be required to proceed with construction or completion of the Unit until after the end of the Rescission Period. If Buyer does not provide a Rescission Notice within the Rescission Period, the Xxxxxxx Money deposit shall be non-refundable to Buyer and will be applied to the balance due as Purchase Price at Closing. Xxxxx Buyer acknowledges and agrees that Xxxxx Buyer is solely responsible for obtaining financing for XxxxxBuyer’s purchase obligations hereunder and for otherwise performing Buyer’s obligations under this Contract. Seller will proceed with performance, including construction and completion of the Unit, in reliance upon XxxxxBuyer’s determination that Xxxxx Buyer is fully ready, willing and able to perform hereunder. Absent a Rescission Notice, XxxxxBuyer’s obligation to close and otherwise perform hereunder will not be subject to any conditions or contingencies, including, without limitation, the availability of Buyer’s financing, the sale of Buyer’s current residence or other property, or a satisfactory appraisal of the Unit.

Rescission Period. If Buyer shall have until the expiration of the Rescission Period is not satisfied with his/her/their ability to finance or otherwise perform any obligations hereunder, Buyer may terminate this Contract by written Notice to Terminate notice of termination delivered to Seller prior to the end of the Rescission Period (the “Rescission Notice”). If Buyer timely delivers a Upon proper Rescission Notice, this Contract shall terminate and the Buyer’s Xxxxxxx Money Deposit shall be returned to Buyer. Buyer except for $0, which amount shall be retained by Seller shall not be required to proceed with construction or completion of the Unit until after the end of the Rescission Periodas liquidated damages. If Buyer does not provide a Rescission Notice within the Rescission Periodso terminate, the Xxxxxxx Money deposit shall be non-refundable to Buyer and will be applied to the balance due as Purchase Price at Closing. Xxxxx acknowledges and agrees that Xxxxx is solely responsible for obtaining financing for Xxxxx’s purchase obligations hereunder and for otherwise performing Buyer’s obligations under this Contract. Seller will proceed with performance, including construction and completion of the UnitResidence, in reliance upon XxxxxBuyer’s determination that Xxxxx Buyer is fully ready, willing and able to perform hereunder. Absent a Rescission Noticesuch termination, XxxxxBuyer’s obligation to close and otherwise perform hereunder will not be subject to any conditions or contingencies, including, without limitation, the availability of Buyer’s financing, the sale of Buyer’s current residence or other property, or a satisfactory appraisal of the UnitResidence. If Buyer attaches any provisions, conditions or requirements to its Rescission Notice, Buyer will nonetheless be deemed to have issued a Rescission Notice and this Contract shall terminate as provided above. Seller shall not be required to proceed with construction or completion of the Residence until after the end of the Rescission Period.