Common use of Seller’s Representations Deemed Modified Clause in Contracts

Seller’s Representations Deemed Modified. To the extent that Buyer actually knows before the Closing that Seller’s representations and warranties are materially inaccurate, untrue or incorrect in any way in accordance with Section 6.3.2 above, such representations and warranties shall be deemed modified to reflect Buyer’s knowledge. Notwithstanding the foregoing, Buyer’s option upon learning of an inaccurate representation or warranty shall be to terminate this Agreement (and receive a return of the Deposit) or to proceed with the Closing and waive its right to recover damages as a result of such inaccurate representation or warranty.

Seller’s Representations Deemed Modified. To the extent that Buyer Xxxxx actually knows before the Closing that Seller’s representations and warranties are materially inaccurate, untrue or incorrect in any way in accordance with Section 6.3.2 above, such representations and warranties shall be deemed modified to reflect Buyer’s knowledge. Notwithstanding the foregoing, BuyerXxxxx’s option upon learning of an inaccurate representation or warranty shall be to terminate this Agreement (and receive a return of the Deposit) or to proceed with the Closing and waive its right to recover damages as a result of such inaccurate representation or warranty.