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. 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).
Termination For Failure of Condition. Upon termination of this Agreement Buyer shall deliver to Seller (i) copies of any studies, surveys and reports prepared for it by third parties relating to the Property (excluding privileged, proprietary, copyrighted or confidential information), without any warranty by Buyer as to utility or accuracy, but to Buyer's knowledge, complete, (ii) a quitclaim deed to Seller in recordable form releasing any interest of Buyer in the Property and (iii) all information which Seller furnished to, or permitted to be copied by, Buyer. After these deliveries and, unless the termination resulted from Buyer's breach, the return of the Deposit to Buyer, neither party shall have any further obligation to the other.
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 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. If any of the conditions set forth herein are not satisfied or waived by the date provided in such condition, the party entitled to benefit of such condition shall have the right to terminate this Agreement and the escrow provided for herein by giving written notice of such termination to the other party and to Escrow Holder. In the event of such termination, all escrow and title charges shall be divided equally between the parties and this Agreement will be of no further force and effect and the parties shall have no further liability except as expressly set forth in this Agreement for matters expressly stated to survive termination of this Agreement and in the Access Agreement. All documents delivered to Escrow Holder shall be returned to the depositing party, the Deposit shall be returned to Buyer and Buyer shall return to Seller all due diligence items delivered by Seller to Buyer.
