Termination of Agreement During Due Diligence Period. If Buyer is not reasonably satisfied with the results of its Due Diligence during the Due Diligence Period, Buyer may terminate this Agreement in its entirety by written notice to Seller given in accordance with the provisions of Section 13.9 hereof at any time prior to 5:00 p.m. Central Time on the last day of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement, Buyer shall be entitled to the return of the Deposit. In the event Buyer fails to terminate this Agreement prior to 5:00 p.m. Central Time on the last day of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement in accordance with this Article 4.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Umh Properties, Inc.), Purchase and Sale Agreement (Umh Properties, Inc.)
Termination of Agreement During Due Diligence Period. If Buyer Buyer, in its sole and absolute discretion, is not reasonably satisfied with the results of its Due Diligence during the Due Diligence Period, Buyer may terminate this Agreement in its entirety by written notice to Seller given in accordance with the provisions of Section 13.9 14.9 hereof at any time prior to 5:00 p.m. Central Time on the last day of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement, and Buyer shall be entitled to the return of the Deposit. In the event Buyer fails to terminate this Agreement prior to 5:00 p.m. Central Time on the last day of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement in accordance with this Article 45.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (NTS Realty Holdings Lp), Purchase and Sale Agreement (NTS Realty Holdings Lp)
Termination of Agreement During Due Diligence Period. If Buyer Buyer, in its sole and absolute discretion, is not reasonably satisfied with the results of its Due Diligence during the Due Diligence Period, Buyer may terminate this Agreement in its entirety by written notice to Seller given in accordance with the provisions of Section 13.9 16.9 hereof at any time prior to 5:00 p.m. Central Eastern Time on the last first business day following the expiration of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement, and Buyer shall be entitled to the return of the Deposit. In the event Buyer fails to terminate this Agreement prior to 5:00 p.m. Central Eastern Time on the last first business day following the expiration of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement in accordance with this Article 45.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Pennsylvania Real Estate Investment Trust), Purchase and Sale Agreement (Pennsylvania Real Estate Investment Trust)
Termination of Agreement During Due Diligence Period. If Buyer Buyer, in its sole and absolute discretion, is not reasonably satisfied with the results of its Due Diligence during the Due Diligence PeriodPeriod (including, without being limited to, the state of title to the Property), Buyer may terminate this Agreement in its entirety by written notice to Seller given in accordance with the provisions of Section 13.9 hereof at any time prior to 5:00 p.m. Central Eastern Time on the last day of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement, Agreement and Buyer shall be entitled to the return of the Initial Deposit. In the event Buyer fails to terminate this Agreement prior to 5:00 p.m. Central Eastern Time on the last day of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement in accordance with this Article 45.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Capital Lease Funding Inc)