Common use of Seller’s Cure Election Notice Clause in Contracts

Seller’s Cure Election Notice. If Buyer provides to Seller one or more Objection Notices, Seller shall deliver to Buyer written notice (“Cure Election Notice”) within five (5) Calendar Days after the expiration of the Investigation Period (the “Cure Election Deadline”), of Seller’s election to cure or not cure each of the Objection Matters. Seller shall not be obligated to elect to cure any Objection Matters, except to the extent such Objection Matters constitute Monetary Obligations that Seller is obligated to remove pursuant to Section 5.1(f) of this Agreement. The failure of Seller to timely deliver Seller’s Cure Election Notice on or before the Cure Election Deadline (having received one or more Objection Notices from Buyer prior to the expiration of the Investigation Period) shall be deemed to be an election by Seller not to cure such Objection Matters. If Seller timely elects not to cure one or more of the Objection Matters, then Seller shall not be in default under this Agreement (except to the extent such Objection Matters constitute Monetary Obligations that Seller is obligated to remove pursuant to Section 5.1(f) of this Agreement) and, in such a case, Buyer may exercise either of the following options within five (5) Calendar Days after the Cure Election Deadline: (A) continue this Agreement in effect without modification pursuant to the provisions of Section 4.3(b) hereof and purchase the Property in accordance with the terms and conditions of this Agreement, subject to those Objection Matters that Seller has elected not to cure (which will be deemed to constitute “Permitted Title Exceptions” to the extent such Objection Matters relate to fee title to the Real Property), except to the extent such Objection Matters constitute Monetary Obligations which Seller is obligated to remove pursuant to Section 5.1(f) of this Agreement; or (B) terminate this Agreement and the Escrow pursuant to the provisions of Section 4.2(b) hereof.

Seller’s Cure Election Notice. If Buyer provides to Seller one or more Objection Notices, Seller shall deliver to Buyer written notice (“Seller’s Cure Election Notice”) within five (5) Calendar Business Days after the expiration of the Investigation Period (the “Cure Election Deadline”), of Seller’s election to cure or not cure each of the Objection Matters. Seller shall not be obligated to elect to cure any Objection Matters, except to the extent such Objection Matters constitute other than Monetary Obligations that Seller is obligated to remove pursuant to Section 5.1(f) the terms and conditions of this Agreement. The failure of Seller to timely deliver Seller’s Cure Election Notice on or before the Cure Election Deadline (having received one or more Objection Notices from Buyer prior to the expiration of the Investigation Period) shall be deemed to be an election by Seller not to cure such any of the Objection Matters. If Seller timely elects or is deemed to elect not to cure one or more of the Objection Matters, then Seller shall not be in default under this Agreement (except to the extent such Objection Matters constitute Monetary Obligations that Seller is obligated to remove pursuant to Section 5.1(f) the terms and conditions of this Agreement) and, in such a case, Buyer may exercise either of the following options within five (5) Calendar Business Days after following the earlier to occur of Buyer’s receipt of Seller’s Cure Election Notice or the Cure Election Deadline: (A) continue this Agreement in effect without modification pursuant to the provisions of Section 4.3(b) hereof and purchase the Property in accordance with the terms and conditions of this Agreement, subject to those the Objection Matters that which Seller has elected (or is deemed to have elected) not to cure (which will be deemed to constitute “Permitted Title Exceptions” to the extent such Objection Matters relate to fee title to the Real Property), except to the extent such Objection Matters constitute Monetary Obligations which Seller is obligated to remove pursuant to Section 5.1(f) the terms and conditions of this Agreement; or (B) terminate this Agreement and the Escrow pursuant to the provisions of Section 4.2(b) hereof.

Seller’s Cure Election Notice. If Buyer provides to Seller one or more Objection Notices, Seller shall deliver to Buyer written notice (“Seller’s Cure Election Notice”) within five (5) Calendar Days after the expiration of the Investigation Period (the “Cure Election Deadline”), of Seller’s election to cure or not cure each of the Objection Matters. Seller shall not be obligated to elect to cure any Objection Matters, except to the extent such Objection Matters constitute other than Monetary Obligations that which Seller is obligated to remove; provided, however, in no event shall Seller be obligated to remove pursuant any Monetary Obligations that Title Insurer has agreed will not be listed as exceptions to Section 5.1(f) of this AgreementBuyer’s Title Policy and that the Title Policy specifically insures Buyer over. The failure of Seller to timely deliver Seller’s Cure Election Notice on or before the Cure Election Deadline (having received one or more Objection Notices from Buyer prior to the expiration of the Investigation Period) shall be deemed to be an election by Seller to not to cure such all of the Objection Matters. If Seller timely elects (or is deemed to have elected) not to cure one or more of the Objection Matters, then Seller shall not be in default under this Agreement (except to the extent such Objection Matters constitute Monetary Obligations that Seller is obligated to remove pursuant to Section 5.1(f) of this Agreementremove) and, in such a case, Buyer may exercise either of the following options within five three (53) Calendar Business Days after the Buyer’s receipt of Seller’s Cure Election DeadlineNotice: (A) continue this Agreement in effect without modification pursuant to the provisions of Section 4.3(b) hereof and purchase the Property in accordance with the terms and conditions of this Agreement, subject to those the Objection Matters that which Seller has elected not to cure (which will be deemed to constitute “Permitted Title Exceptions” to the extent such Objection Matters relate to fee title to the Real Property”), except to the extent such Objection Matters constitute Monetary Obligations which Seller is obligated to remove pursuant to Section 5.1(f) of this Agreementremove; or (B) terminate this Agreement and the Escrow pursuant to the provisions of Section 4.2(b) 4.2 hereof.