Seller’s Option to Terminate. At any time during the Listing Period and at NO cost, the Seller may request that Listing Broker’s right to list the Property be terminated. Such termination shall be in writing and effective within 24 hours of receipt.
Seller’s Option to Terminate. Seller shall have the option to terminate this Agreement as to all Properties ("Seller's Termination Option") if Purchaser exercises any right of termination hereunder as to any Property, and such termination has the effect of reducing the aggregate Base Price of the Properties to be closed by Purchaser hereunder to less than fourteen million five hundred thousand ($14,500,000) dollars, as determined by reference to the Base Price of each of the Properties set forth in Exhibit "A" hereto.
Seller’s Option to Terminate. In addition to any other right of Seller to terminate provided for elsewhere in this Agreement, Seller shall be entitled to terminate its obligations to sell any Property, and its and/or Tenant's obligation to lease such Property and any other transaction contemplated herein (and such termination shall not constitute a default under any of the related transactions or documents contemplated thereby, including this Agreement), if Seller elects, in its sole and unfettered discretion, not to commence or complete development of such Property as a hotel as contemplated by this Agreement. In the event Seller elects to terminate its obligations to sell any Property pursuant to this Section 3.5, this Agreement shall terminate and be of no further force or effect with respect to the affected Property and Seller shall reimburse to Purchaser the Purchaser's expenses incurred in respect of such affected Property, not to exceed $30,000 (and direct Escrow Agent to refund to Purchaser that portion of the Deposit allocable to the affected Property as provided in Section 10.3).
Seller’s Option to Terminate. In addition to any other right of Seller to terminate provided for elsewhere in this Agreement, (a) Seller shall be entitled to terminate this Agreement and its and/or Tenant's obligations hereunder and any obligations under any other transactions contemplated herein or thereby (and such termination shall not constitute a default under any of the related transactions or documents contemplated thereby, including, without limitation, this Agreement) by written notice to Purchaser at any time prior to completion of all Closings contemplated hereby, if: (i) Purchaser fails to deliver the Deposit(s) and/or Letter(s) of Credit within the times required by this Agreement; (ii) in the event that Seller, for any reason, elects not to purchase the Properties under the Little Xxxx Xxxxx Contract; or (iii) in the event CNL American Properties Fund, Inc., for any reason, elects not to purchase the remainder of the property (i.e., other than the Properties) to be purchased under the Little Xxxx Xxxxx Contract; and (b) Seller shall be entitled to terminate its obligations to sell the Ownership Interests of the Owner of any Property, and its and/or Tenant's obligation to lease such Property and any other transaction contemplated herein (and such termination shall not constitute a default under any of the related transactions or documents contemplated thereby, including this Agreement), if: (i) Seller elects, in its sole and unfettered discretion, not to commence or complete development of such Property as a hotel as contemplated by this Agreement (provided, however, Purchaser's right to accelerate the Closing of the purchase and sale of the Ownership Interests in the Owner of such Property pursuant to Section 3.2 shall not be affected by such election); or (ii) if the Declarant repurchases such Property pursuant to any right or rights to do so under the terms of the DOR and/or DCCRO.
Seller’s Option to Terminate. In addition to any other right of Seller to terminate provided for elsewhere in this Agreement, Seller shall be entitled to terminate its obligations to sell the Property, and its and/or Tenant's obligation to lease the Property and any other transaction contemplated herein (and such termination shall not constitute a default under any of the related transactions or documents contemplated thereby, including this Agreement), if Seller elects, in its sole and unfettered discretion, not to commence or complete development of the Property as a hotel as contemplated by this Agreement. In the event Seller elects to terminate its obligations to sell the Property pursuant to this Section 3.5, this Agreement shall terminate and be of no further force or effect and Seller shall reimburse to Purchaser the Purchaser's expenses incurred in respect of the Property, not to exceed $30,000 (and direct Escrow Agent to refund to Purchaser the Deposit).
Seller’s Option to Terminate. Seller, in Seller's sole and absolute discretion, shall have the option to terminate this contract and cancel the escrow established herein ("Seller's Option to Terminate") by delivering written notice thereof to Buyer and Escrow Holder (the "Termination Option Notice"), whereupon escrow shall cancel and this contract shall terminate, without further obligation to Buyer on the part of Seller, upon the following terms and conditions:
