Rejected Contracts definition
Examples of Rejected Contracts in a sentence
The originals of all of the Contracts other than Rejected Contracts, and evidence that all Rejected Contracts have been cancelled.
All Existing Contracts not included in any such notice shall be excluded from the Property to be conveyed to Buyer, and are herein respectively referred to as the “Rejected Contracts”, and, if Buyer fails to deliver such notice, all Existing Contracts shall be deemed Rejected Contracts.
Seller shall at Seller’s sole cost and expense terminate on or before the Closing Date all Rejected Contracts and shall deliver to Buyer evidence reasonably satisfactory to Buyer of Seller’s termination on or prior to Closing of all Rejected Contracts.
Amounts paid or payable under the Contracts other than any Rejected Contracts shall be prorated.
Hersha Owner shall be responsible for terminating all Rejected Contracts provided such Contract is terminable without material fee or penalty.