Common use of TERMINATION BY TRANSFEROR Clause in Contracts

TERMINATION BY TRANSFEROR. If any condition set forth herein for the benefit of Transferor (other than a default by Transferee) cannot or will not be satisfied prior to Closing, and Transferee fails to cure any such matter within ten (10) business days after notice thereof from Transferor, Transferor may, at its option, elect either (a) to terminate this Agreement, in which event the rights and obligations of Transferor and Transferee hereunder shall terminate immediately, or (b) to waive its right to terminate, and instead, to proceed to Closing. If, prior to Closing, Transferee defaults in performing any of its obligations under this Agreement (including its obligation to purchase the Property), and Transferee fails to cure any such default within ten (10) business days after notice thereof from Transferor, then Transferor's sole remedy for such default shall be to terminate this Agreement and Transferor waives any claims for damages, actual, consequential or otherwise, that it may possess against Transferee.

TERMINATION BY TRANSFEROR. If any condition set forth herein for the benefit of Transferor (other than a default by Transferee) cannot or will not be satisfied prior to Closing, and Transferee fails to cure any such matter within ten (10) business days after notice thereof from Transferor, Transferor may, at its option, elect either (a) to terminate this Agreement, in which event the rights and obligations of Transferor and Transferee hereunder shall terminate immediately, or (b) to waive its right to terminate, and instead, to proceed to Closing. If, prior to Closing, Transferee defaults in performing any of its obligations under this Agreement (including its obligation to purchase the Property), and Transferee fails to cure any such default within shall have ten (10) business days to cure any such default after notice thereof from Transferor. In the event that Transferee fails to cure such default, then Transferor's sole Transferor shall have a remedy for such default shall be to terminate this Agreement actual and Transferor waives any claims for direct damages, actual, consequential or otherwise, that it may possess against Transfereebut excluding any remedies of specific performance and punitive damages which Transferor hereby irrevocably waives.