Common use of Right of Termination During Inspection Period Clause in Contracts

Right of Termination During Inspection Period. If Purchaser is not satisfied, in its sole and exclusive discretion, with the state of maintenance and repair of the Property or the rents, occupancy or expenses of the Property, then notwithstanding anything contained herein to the contrary, Purchaser shall have the right to terminate this Agreement by giving written notice to Seller before the end of the Inspection Period, and no party hereto shall have any further liability to any other party hereto, and all deposits shall be returned to Purchaser.

Appears in 3 contracts

Samples: Purchase Contract (Apple Residential Income Trust Inc), Purchase Contract (Cornerstone Realty Income Trust Inc), Purchase Contract (Cornerstone Realty Income Trust Inc)

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Right of Termination During Inspection Period. If Purchaser is not satisfied, in its sole and exclusive discretion, with the state of maintenance and repair of the Property or the rents, occupancy or expenses of the Property, then notwithstanding anything contained herein to the contrary, Purchaser shall have the right to terminate this Agreement by giving written notice to Seller before the end of the Inspection Period, the Deposit shall be returned to Purchaser, and no party hereto shall have any further liability to any other party hereto, and all deposits shall be returned to Purchaserexcept for those provisions of the Agreement which expressly survive a termination.

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

Right of Termination During Inspection Period. If Purchaser is not satisfied, in its sole and exclusive discretion, with the state of maintenance and repair of the Property or the rents, occupancy or expenses of the Property, then notwithstanding anything contained herein to the contrary, Purchaser shall have the right to terminate this Agreement by giving written notice to Seller before the end of the Inspection Period, and no party hereto shall have any further liability to any other party hereto, and all deposits shall be he returned to Purchaser.

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

Right of Termination During Inspection Period. If Purchaser is not satisfied, in its sole and exclusive discretion, with the state of maintenance and repair of the Property or the rents, occupancy or expenses of the Property, then notwithstanding anything contained herein to the contrary, Purchaser shall have the right to terminate this Agreement by giving written notice to Seller before the end of the Inspection Period, and no party hereto shall have any further liability to any other party hereto, except as set forth in Paragraph 6.2.7 below and all deposits shall be returned to Purchaser.

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

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Right of Termination During Inspection Period. If Purchaser is not satisfied, in its sole and exclusive discretion, with the state of maintenance and repair of the Property or the rents, occupancy or expenses of the Property, or for any other reason, then notwithstanding anything contained herein to the contrary, Purchaser shall have the right to terminate this Agreement by giving written notice to Seller before the end of the Inspection Period, and no party hereto shall have any further liability to any other party hereto, and all deposits shall be returned to Purchaser.

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

Right of Termination During Inspection Period. If Purchaser is not satisfied, in its sole and exclusive discretion, with the state of maintenance and repair of the Property or the rents, occupancy or expenses of the Property, then notwithstanding anything contained herein to the contrary, Purchaser shall have the right to terminate this Agreement by giving written notice to Seller before the end of the Inspection Period, and no party hereto shall have any further liability to any other party hereto, and all deposits shall be returned to Purchaser.

Appears in 1 contract

Samples: First Modification to Purchase Contract (Cornerstone Realty Income Trust Inc)

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