Common use of Termination by Acquiror Clause in Contracts

Termination by Acquiror. If any condition set forth herein or in any of the Contribution Agreements being simultaneously executed for the acquisition of the DeBoxx Xxxiliated Partnership hotel properties cannot or will not be satisfied prior to Closing, or upon the occurrence of any other event that would entitle the Acquiror to terminate this Agreement and its obligations hereunder, and the Contributor fails to cure any such matter within ten (10) business days after notice thereof from the Acquiror, the Acquiror, at its option, may elect either (a) to terminate this Agreement, in which event the Deposit shall be forthwith returned to the Acquiror and all other rights and obligations of the Contributor and the Acquiror hereunder shall terminate immediately, or (b) to waive its right to terminate and, instead, to proceed to Closing. Notwithstanding any termination hereof, the parties shall nevertheless remain liable under Sections 3.20 and 4.

Termination by Acquiror. If any condition set forth herein or in any of the Contribution Agreements being simultaneously executed for the acquisition of the DeBoxx Xxxiliated Partnership hotel properties cannot or will not be satisfied prior to Closing, or upon the occurrence of any other event that would entitle the Acquiror to terminate this Agreement and its obligations hereunder, and the Contributor fails to cure any such matter within ten (10) business days after notice thereof from the Acquiror, the Acquiror, at its option, may elect either (a) to terminate this Agreement, in which event the Deposit shall be forthwith returned to the Acquiror and all other rights and obligations of the Contributor and the Acquiror hereunder shall terminate immediately, or (b) to waive its right to terminate and, instead, to proceed to Closing. Notwithstanding any termination hereof, the parties shall nevertheless remain liable under Sections 3.20 and 4.4.13. If the Acquiror terminates this Agreement as a