Upon Termination by Buyer. If Buyer terminates this Agreement pursuant to the exercise of its right of termination under Section 5(d) of this Agreement, then the Deposit (less the Hard Deposit) shall be promptly returned to Buyer upon Buyer’s written demand. If Buyer terminates this Agreement as a result of Seller’s default and Seller disputes that it is in default, or if Seller claims that Buyer is in default and Buyer disputes that it is in default, then upon the earlier to occur of: (i) receipt by Escrow Holder of written joint instructions from Seller and Buyer or (ii) entry of a final and unappealable adjudication determining which party is entitled to receive the Deposit, the Deposit shall be distributed in accordance with such written instructions or adjudication.
Appears in 6 contracts
Samples: Purchase and Sale Agreement (Resource Real Estate Investors 6 LP), Purchase and Sale Agreement (Resource Real Estate Investors 7, L.P.), Purchase and Sale Agreement (Resource Real Estate Investors 7, L.P.)
