Termination During Due Diligence Period. If Buyer determines, in its sole discretion, before the expiration of the Due Diligence Period that the Property is unacceptable for Buyer’s purposes, then Buyer shall have the right to terminate this Agreement by giving to Seller notice of termination (“Termination Notice”) on or before the expiration of the relevant Due Diligence Period, in which event Deposit shall be immediately returned to Buyer, Buyer shall immediately return (or confirm the destruction of) all Property Information, if any, to Seller and, except for those provisions of this Agreement which expressly survive the termination of this Agreement, the parties hereto shall have no further obligations hereunder. If Buyer fails to deliver a Termination Notice or Acceptance Notice (as defined below) to Seller on or before the expiration of the Due Diligence Period, then Buyer shall be deemed to have elected to terminate this Agreement and the Deposit shall be immediately returned to Buyer. Buyer’s delivery (or deemed delivery) of a Termination Notice to Seller with respect to the Property shall constitute Buyer’s election to terminate this Agreement with respect to the Property as provided above in this Paragraph 5.F.
Termination During Due Diligence Period. If Buyer exercises its right to terminate this Agreement by written notice to Seller in accordance with Section 3 below, the Xxxxxxx Money Deposit shall be refunded to Buyer. If Buyer fails to exercise its right to terminate this Agreement by written notice to Seller within the Due Diligence Period, then the Xxxxxxx Money Deposit shall become non-refundable.
Termination During Due Diligence Period. If Buyer determines, in its sole discretion, before the expiration of the Due Diligence Period, that the Real Property is unacceptable for Buyer's purposes, Buyer shall have the right to terminate this Agreement by giving to Seller notice of termination ("TERMINATION NOTICE") before the expiration of the Due Diligence Period, in which event the Transaction Deposit shall be immediately refunded to Buyer, the Performance Deposit shall be remitted to Seller, Buyer shall immediately return all Property Information to Seller and, except for those provisions of this Agreement which expressly survive the termination of this Agreement, the parties hereto shall have no further obligations hereunder. If Buyer fails to deliver a Termination Notice to Seller and Escrow Holder on or before the expiration of the Due Diligence Period, then Buyer shall be deemed to be satisfied with all aspects of all the Real Property, including, without limitation, the condition and suitability of all the Real Property for Buyer's intended use, and Buyer shall be obligated to acquire the Real Property in accordance with the provisions of this Agreement. Buyer's delivery of a Termination Notice to Seller with respect to the Real Property shall constitute Buyer's election to terminate this Agreement with respect to the Real Property as provided above in this SECTION 4.3.3.
Termination During Due Diligence Period. At any time prior to the expiration of the Initial Due Diligence Period, Purchaser or Purchaser’s attorney shall, by giving written notice to Seller and Escrow Agent, have the right, in its sole discretion, and with or without cause, to terminate this Agreement and receive the return of the Deposit, in which case the Escrow Agent shall return the Deposit to Purchaser, without further authorization or direction, by wire transfer of immediately available funds within two (2) business days, and upon the return of the Deposit, the parties shall have no further obligations under this Agreement, except for those which expressly survive any termination of this Agreement. At any time prior to the expiration of the Extended Due Diligence Period (including as such may have been extended one time pursuant to the terms of Section 5.1), Purchaser or Purchaser’s attorney shall have the right, solely in the event of a failure of the Diligence Contingency (as hereinafter defined), to terminate the Agreement and receive the return of the Deposit by giving written notice to Seller and Escrow Agent specifying the reason for such termination, including the Diligence Contingency that has not been satisfied and the reasons therefor. If Purchaser terminates this Agreement pursuant to this Section 5.3, the Escrow Agent shall return the Deposit to Purchaser, without further authorization or direction, by wire transfer of immediately available funds within two (2) business days, and upon the return of the Deposit, the parties shall have no further obligations under this Agreement, except for those which expressly survive any termination of this Agreement. In any such event, Purchaser shall be responsible for all reasonable termination charges of Escrow Agent.
Termination During Due Diligence Period. (a) Initial Due Diligence Period Prior to the Effective Date, Buyer has performed investigations and reviewed information in order to determine the suitability of the Property for acquisition by Buyer or Buyer's permitted assignee. In connection therewith, Buyer agrees that Buyer accepts Buyer's diligence and wishes to proceed with the acquisition of the Property, subject to all remaining obligations of Seller under this Agreement and Buyer's continuing rights to conduct diligence on the Property as set forth in this Agreement and also subject to Buyer's continuing rights to review and approve any revisions to the Lease. Seller and Buyer agree that the Lease has not been finalized, executed and delivered to Buyer as of the Effective Date Accordingly, the Initial Due Diligence Period shall automatically be extended to the date which is five (5) business days after the full execution of the Lease and delivery of same to Buyer (the "Extended Initial Due Diligence Period"), solely for the purpose of Buyer's review and approval of the final Lease. Buyer may only terminate this Agreement during the Extended Initial Due Diligence Period in the event that the final Lease contains terms and conditions that are materially inconsistent with the terms of the Current Lease Draft provided to Buyer. In the event Buyer determines that the final Lease contains terms and conditions that are materially inconsistent with the terms of the Current Draft Lease, it shall provide written notice thereof to Seller indicating such materially inconsistent terms and indicating Buyer is terminating this Agreement on or before the expiration of the Extended Initial Due Diligence Period in which event the Xxxxxxx Money shall be promptly refunded to Buyer, and thereafter neither party hereto shall have any further rights, obligations or liabilities hereunder except for those matters which expressly survive termination of this Agreement.
Termination During Due Diligence Period. At any time prior to the expiration of the Initial Due Diligence Period (or the Extended Due Diligence Period but only as to those matters set forth in Sections 5.1(a) and (b)), Purchaser or Purchaser's attorney shall, by giving written notice to Seller and Escrow Agent, have the right, in its sole discretion, and with or without cause, to terminate this Agreement and receive the return of the Deposit, in which case the Escrow Agent shall return the Deposit to Purchaser, without further authorization or direction, by wire transfer of immediately available funds within two (2) business days, and upon the return of the Deposit, the parties shall have no further obligations under this Agreement, except for those which expressly survive any termination of this Agreement. In any such event, Purchaser and Seller shall be equally responsible for any reasonable termination charges of Escrow Agent.
Termination During Due Diligence Period. (A) At any time prior to the Due Diligence Period Expiration Date, Buyer shall have the right, in its sole and absolute discretion, and for any or no reason whatsoever, to terminate this Agreement by written notice to Seller given by Buyer on or prior to the Due Diligence Period Expiration Date, and, upon such election, the Deposit shall be immediately refunded to Buyer, other than Fifty Thousand Dollars ($50,000) which shall be paid to Seller as consideration for the aforementioned Due Diligence Period; provided, however, that the entire Deposit of Five Hundred Thousand Dollars ($500,000) shall be immediately refunded to Buyer upon Buyer’s election to terminate this Agreement by written notice to Seller given by Buyer on or prior to the Due Diligence Period Expiration Date on the grounds that: (i) the results of the environmental inspection are unacceptable to Buyer; (ii) the condition of title, including survey issues, is unacceptable to Buyer; (iii) the liabilities related to the Other Properties are in any respect unacceptable to Buyer; or (iv) Buyer and Seller are unable to agree on the terms of the Mercantile Lease. In addition, the entire Deposit of $500,000 shall be immediately refunded to Buyer, whether before or after the Due Diligence Period Expiration Date, in the event that Buyer is entitled to terminate this Agreement following the Due Diligence Period pursuant to the terms of this Agreement. Upon Buyer’s election to terminate this Agreement as set forth in the preceding sentence, the parties hereto shall have no further liabilities one to the other (other than those that are expressly stated to survive the termination of this Agreement).
Termination During Due Diligence Period. If HSRE determines, in its sole discretion, before the expiration of the Due Diligence Period that the Property is unacceptable for HSRE’s purposes, HSRE shall have the right to terminate this Agreement by giving to Extra Space written notice of termination before the expiration of the Due Diligence Period, and neither party shall have any further rights or liabilities hereunder except for those provisions which expressly survive the termination of this Agreement.
Termination During Due Diligence Period. If Buyer, in its sole discretion, elects to proceed with the purchase of the Property, then Buyer shall, before the end of the Due Diligence Period, notify Seller in writing that Buyer has elected not to terminate in accordance with this Section 2.3 (the “Approval Notice”) in the form attached hereto as Exhibit B. If Buyer fails to give Seller the Approval Notice prior to the expiration of the Due Diligence Period, then Buyer shall be deemed to have elected to terminate this Agreement, the Escrow Agent shall refund the Xxxxxxx Money to Buyer, and neither party shall have any further rights or liabilities hereunder except as provided in Sections 2.2, 2.3, 6.5, and 10.2 of this Agreement. Buyer’s obligation to return the Property Information and repair any damage to the Property caused by Buyer or Buyer’s Agents shall survive the termination of this Agreement.
Termination During Due Diligence Period. If this Agreement is terminated by Buyer as permitted under this Article, during the Due Diligence Period, the Buyer’s Initial Deposits shall be refunded to Buyer, and neither party shall have any further right or remedy against the other under this Agreement. In such an event, Buyer and Seller each shall pay one-half of escrow cancellation fees and Seller shall pay the cost of the Preliminary Title Report.
