Termination for Failure of Weston Urban to Satisfy New Tower Closing Obligations after Issuing Closing Notice Sample Clauses

Termination for Failure of Weston Urban to Satisfy New Tower Closing Obligations after Issuing Closing Notice. If Weston Urban issues the Closing Notice and then fails to satisfy the New Tower Closing Obligations on or before the expiration of the thirty (30) day cure period identified in Section 2.04 above (except due to a default by Frost under this Agreement or the New Tower Property, a default by Frost on its obligations under the documents governing the Construction Loan should Frost be the construction lender for the New Tower, or by a default by the City under this Agreement or under any Ancillary Agreement), then either the City or Frost shall have the option as its sole remedy for such default, of terminating this Agreement by delivering written notice thereof to the other Parties, whereupon (a) this Agreement and all Ancillary Agreements other than the City Lease Amendment shall terminate, (b) the Prepaid Purchase Price Portion shall be refunded to the City in accordance with the Escrow Agreement and the Existing Tower Contract, (c) the City Real Estate Xxxxxxx Money shall be disbursed to the City in accordance with the Deed Escrow Agreement, (d) Weston Urban shall pay to the City the City Pre-Closing Unwind Payment within thirty (30) days following notice received from the City along with such reasonable documentation evidencing the amount of such Pre-Closing Unwind Payment, and (e) none of the Parties hereto shall have any continuing rights or obligations under this Agreement or under any of the terminated Ancillary Agreements (except as expressly set forth in any Ancillary Agreements) thereafter.
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