Termination For Failure of Condition. Either party may terminate this Agreement for non-satisfaction or failure of a condition to the obligation of either party to consummate the transaction contemplated by this Agreement (including, without limitation, Buyer’s election to disapprove the condition of the title or Surveys pursuant to Section 14 herein), unless such matter has been satisfied or waived by the date specified in this Agreement or by the Closing Date (as same may be extended by the parties to allow the parties to satisfy or waive conditions to close in the manner provided in this Agreement). In the event of such a termination, Escrow Agent shall promptly return (i) to Buyer, all funds of Buyer in its possession, including the Deposit and all interest accrued thereon, and (ii) to Seller and Buyer, all documents deposited by them respectively, which are then held by Escrow Agent. Thereafter, neither party shall have any continuing obligation or liability to the other party except for any such matters that expressly survive the Closing or termination of this Agreement, as provided herein. The provisions of this Section 13(a) are intended to apply only in the event of a failure of condition, as set forth herein, which is not the result of a default by either party, but which shall not apply in the event the non-terminating party is in default of its obligations under this Agreement.
Termination For Failure of Condition. This Agreement shall be subject to termination as provided in Section 13 or as a result of the failure of a condition contained in Section 3.3 (unless otherwise waived by Buyer), Section 3.4 (unless otherwise waived by Seller) or as set forth elsewhere in this Agreement. Upon termination of this Agreement pursuant to this Section 7.2, (a) each party shall promptly execute and deliver to Escrow Holder such documents as Escrow Holder may reasonably require to evidence such termination; (b) Escrow Holder shall return all documents to the respective parties who delivered such documents to Escrow Holder; (c) Buyer and Seller shall each pay one-half (½) of Escrow Holder's title and escrow cancellation fees, if any; (d) Buyer shall return to Seller all Due Diligence Materials in Buyer's possession or under Buyer’s control relating to the Property that Buyer received from Seller; (e) all Deposits paid by Buyer shall be immediately refunded to Buyer; and (f) the respective obligations of Buyer and Seller under this Agreement shall terminate except for those obligations expressly stated to survive. Notwithstanding the foregoing, (1) if the failure of a condition to close is the result of a breach or default by Seller under this Agreement, Buyer shall have the rights and remedies set forth in Section 16.2 below, and (2) if the failure of a condition to close is the result of a breach or default by Buyer under this Agreement, Seller shall have the rights and remedies set forth in Section 16.1 below.
Termination For Failure of Condition. In the event any of the conditions provided in Sections 4.1 and 4.2 have not occurred and have not been waived by the appropriate party by the Termination Date, then, subject to Section 4.4, this Agreement shall automatically terminate with the effect provided in Section 8.3.
Termination For Failure of Condition. If any of Buyer's Closing Conditions is not satisfied, Buyer shall have the right, at its sole election, either to waive the condition in question and proceed with the purchase of the Property pursuant to all of the other terms of this Agreement, reserving all of its other rights and remedies available to it under this Agreement by reason of such failure of condition, or, in the alternative, to terminate this Agreement upon giving notice of termination to Seller. Upon termination under this Section 4.2(a), Seller and Buyer agree that Buyer shall be entitled to immediate refund of the Deposit without offset for any charges or claims, and each party shall bear its own expenses incurred in connection with this Agreement.
Termination For Failure of Condition. If any of Seller's Closing Conditions is not satisfied, Seller shall have the right, at its sole election, either to waive the condition in question and proceed with the sale of the Property pursuant to all of the other terms of this Agreement, reserving all of its other rights and remedies available to it under this Agreement or otherwise at law or in equity by reason of such failure of condition, or, in the alternative, to terminate this Agreement upon giving notice of termination to Buyer.
Termination For Failure of Condition. Either party may, by delivering written notice to the other party, terminate this Agreement for non-satisfaction or failure of a condition to the obligation of either party to consummate the transaction contemplated by this Agreement (including, without limitation, Buyer’s election to disapprove the condition of the title or Surveys pursuant to Section 14 herein), unless such matter has been satisfied or waived by the date specified in this Agreement or, if no other date is specified, by the Closing Date (as the Closing Date may be extended by the parties to allow the parties to satisfy or waive conditions to close in the manner provided in this Agreement).
(i) In the event of such a termination before the expiration of the Due Diligence Period or a failure of a condition to Buyer’s obligations set forth in Section 12(a) at any time prior to the Closing, Escrow Agent shall promptly (A) return to Buyer, all funds of Buyer in its possession (and Seller shall return to Buyer any portion of the Deposit that may have been released to Seller), including the Deposit and all interest accrued thereon, and (B) return to Seller and Buyer, all documents deposited by them respectively, which are then held by Escrow Agent.
(ii) In the event of such a termination after the expiration of the Due Diligence Period and such termination is the result of a failure of a condition to Seller’s obligations set forth in Section 12(b), Escrow Agent shall promptly (A) return to Seller all funds of Seller in its possession, (B) release to Seller the Deposit, together with all interest accrued thereon, and (C) return to Seller and Buyer, all documents deposited by them respectively, which are then held by Escrow Agent. Thereafter, neither party shall have any continuing obligation or liability to the other party except for any such matters that expressly survive the Closing or termination of this Agreement, as provided herein. The provisions of this Section 13(a) are intended to apply only in the event of a failure of condition, as set forth herein, which is not the result of a default by either party, but which shall not apply in the event the non-terminating party is in default of its obligations under this Agreement.
Termination For Failure of Condition. Either party may terminate this agreement with immediate effect by delivering notice of the termination to the other party if either ○ Any of the conditions set out in this Agreement or SOW have not been, or it becomes apparent that any such conditions will not be, fulfilled and ○ The non-fulfillment of such conditions were not resulting from force majeure, strikes, equipment or transmission failure or damage reasonably beyond the other party’s control, or other causes reasonably beyond its control. ● Sand Crab Digital reserves the right to terminate or suspend this agreement upon non-payment of dues by Client.
Termination For Failure of Condition. Either Party may terminate this Agreement by providing written notice to the other in the event that Effective Date has not occurred by June 30, 1998.
Termination For Failure of Condition. Either party may terminate this Agreement for non-satisfaction or failure of a condition to the obligation of either party to consummate the transaction contemplated by this Agreement, unless such matter has been satisfied or waived by the date specified in this Agreement or by the Closing Date (as same may be extended by the parties to allow the parties to satisfy or waive conditions to close in the manner provided in this Agreement). In the event of such a termination, Escrow Agent shall promptly return (i) to Buyer, all funds of Buyer in its possession, including the Xxxxxxx Money and all interest accrued thereon, and (ii) to Sellers and Buyer, all documents deposited by them respectively, which are then held by Escrow Agent. Thereafter, neither party shall have any continuing obligation nor liability to the other party except for any such matters that expressly survive the Closing or termination of this Agreement, as provided herein. The provisions of this Section 13.3 are intended to apply only in the event of a failure of condition, as set forth herein, which is not the result of a default by either party, but which shall not apply in the event the non-terminating party is in default of its obligations under this Agreement.
Termination For Failure of Condition. In the event Buyer fails to approve or disapprove any condition precedent specified in Section 7.1 or elsewhere in this Agreement on or before the date for approval set forth therein, Sellers shall notify Buyer of such failure and Buyer shall have a period of five (5) days from receipt of such notice to elect to approve such matter or to disapprove such matter and terminate this Agreement. The failure of Buyer to approve such matter within said five (5) days shall be deemed to constitute disapproval thereof and Buyer’s election to terminate. In the event Sellers fail to approve or disapprove any condition precedent specified in Section 7.1 or elsewhere in this Agreement on or before the date for approval set forth therein, Buyer shall notify Sellers of such failure and Sellers shall have a period of five (5) days from receipt of such notice to elect to approve such matter or to disapprove such matter and terminate this Agreement. The failure of Sellers to approve such matter within said five (5) days shall be deemed to constitute disapproval thereof and Sellers’ election to terminate. In the event Buyer or Sellers terminate this Agreement based on the disapproval of one or more of said conditions precedent as provided herein, Buyer shall be entitled to all sums deposited into Escrow paid to Sellers as a portion of the Purchase Price.
