Common use of Termination Option Clause in Contracts

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to essence for this paragraph and strict compliance with the time for performance is required.

Termination Option. For nominal consideration, the receipt of w hich which is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date effective date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date effective date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee ❑will ❑will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee ❑will ❑will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.. Initialed for identification by Xxxxx and Seller

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee ❑will ❑will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to essence for this paragraph and strict compliance with the time for performance is required.]

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee will will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.]

Termination Option. For nominal consideration, the receipt of w hich which is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ 500 (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within 5 days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee will be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee ❑will ❑will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.]

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee will will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.]

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date [effective date] of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date [ effective date] of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee will will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.. DRAFT

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to essence for this paragraph and strict compliance with the time for performance is required.]

Termination Option. For nominal consideration, the receipt of w hich which is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date effective date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date effective date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to essence for this paragraph and strict compliance with Buyer. The Option Fee will will not be credited to the time for performance is requiredSales Price at closing.

Termination Option. For nominal consideration, the receipt of w hich which is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date effective date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date effective date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee will will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.this

Termination Option. For nominal consideration, the receipt of w hich which is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date effective date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date effective date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee will will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to Buyer. The Option Fee ❑will ❑will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.. Contract Concerning Page 8 of 10 2-12-18 (Address of Property)

Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and Xxxxx's agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Xxxxx gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any xxxxxxx money will be refunded to essence for this paragraph and strict compliance with Buyer. The Option Fee ❑will ❑will not be credited to the time for performance Sales Price at closing. Time is required.of the