Failure of Conditions. If the Conditions Precedent shall not have been satisfied or waived by February 27, 2015, either party may terminate this Lease and the Transfer Agreement by written notice of termination (the “Termination Notice”) delivered to the other party by February 27, 2015 (the “Failure of Conditions Termination Date”). Upon termination of this Lease under the terms of this Section 2, neither party hereto shall have any further claims or obligations under this Lease or the Transfer Agreement, except those obligations that expressly survive termination. Notwithstanding any provision of this Section 2.3 to the contrary, if the parties are unable to agree upon the initial Deferred Maintenance Items (as that term is defined in Section 9.2(c)(ii) below for the River Valley Facility to be included on Exhibit “E”, the sole remedy of the parties shall be to exclude the River Valley Facility from the Portfolio.
Failure of Conditions. In the event that any of the conditions to the obligations of either party are not satisfied or waived on or prior to the Closing Date, and if any applicable cure period provided in Section 8.02 hereof has lapsed, then such party may terminate and cancel this Agreement by delivery of written notice of such action to the other party on such date.
Failure of Conditions. None of the Company, Parent or Merger Sub may rely on the failure of any condition set forth in Section 7.1 to be satisfied to excuse performance by such party of its obligations under this Agreement if such failure was caused by such party’s failure to act in good faith and in a manner consistent with the terms of this Agreement.
Failure of Conditions. This Agreement may be terminated by either party hereto, if the conditions, as set forth in this Agreement to such terminating party's obligations under this Agreement are not fulfilled on or prior to the Closing Date; provided that any such termination shall not limit the remedies otherwise available to such party as a result of misrepresentations of or breaches by the other party.
Failure of Conditions. If any of the conditions listed in subsection (a) are not satisfied by the Condition Satisfaction Date, the Parties will attempt in good faith to negotiate new dates for the satisfaction of the failed conditions. If the Parties are unable to negotiate new dates then Lessor may terminate this Agreement upon ten (10) days written notice to Buyer without liability for costs or damages or triggering a default under this Agreement.
Failure of Conditions. The LFC may terminate this Agreement for irremediable breach under clause 22.1(a) if the Service Provider has not continued to meet the Security Requirements during the Term, and the Service Provider has not remedied that breach within the period of twenty (20) Business Days following the date that the LFC has given the Service Provider notice of such failure.
Failure of Conditions. In the event Seller shall not be able to convey the Property on the date of Closing in accordance with the provisions of this Agreement, or any condition precedent to Buyer’s obligation to Close expressly set forth herein is not satisfied (through no breach by Buyer of its obligations under this Agreement) or waived, then Buyer shall have the option, as its sole recourse and remedy, exercisable by written notice to Seller at or prior to Closing, of (1) accepting at Closing such title and state of the Property as Seller then possesses and is able to convey and/or waiving any unsatisfied condition precedent, with no deduction from or adjustment of the Purchase Price, or (2) extending the Closing date to allow Seller additional time (but not to exceed 15 days) to cure or satisfy the unsatisfied condition (but without obligation of Seller to do so), or (3) declining to proceed to Closing. In the last event, except as expressly set forth herein, all obligations, liabilities and rights of the parties under this Agreement shall terminate, and the Deposit shall be returned to Buyer. In addition to (and notwithstanding) the foregoing, if the failure of the condition is due to a breach by Seller of its obligations under this Agreement, Buyer may pursue any applicable remedies of Buyer for such breach under Section 10.2.
Failure of Conditions. If any of the conditions set forth in paragraphs 5.1 or 5.2 above are not timely satisfied or waived by the applicable party, for any reason other than the default of Buyer or Seller under this Agreement, then this Agreement and the rights and obligations of Buyer and Seller shall terminate and be of no further force or effect except as to those matters as specifically stated in this Agreement to survive expiration or early termination, in which case the Title Company is hereby instructed to return promptly to Buyer the Deposit in accordance with paragraph 4.1 and to the party which placed such items into Escrow the documents that are held by the Title Company on the date of termination. Notwithstanding anything to the contrary contained in this Agreement, the Parties acknowledge that, if Buyer elects to extend the Due Diligence Period pursuant to paragraph 4.1.1 above, the Initial Deposit and the Additional Deposit become non-refundable to Buyer except (i) in the event of a default by Seller hereunder (in which event the provisions of paragraph 6.2 shall apply), or (ii) in the event of a failure of any of Seller’s representations or warranties contained herein due to changed circumstances not caused by an act of Seller (as opposed to Seller’s breach or inaccuracy in any representation of Seller as of the date of this Agreement pursuant to paragraph 8 below) as of the Close of Escrow, in which case Buyer shall have the option either to (i) proceed with the Closing and the Deposit shall be applied to the Purchase Price, or (ii) terminate this Agreement and the Deposit shall be returned to Buyer. Consequently, except as set forth in the preceding sentence, if Buyer terminates this Agreement pursuant to this paragraph 5.3 at any time after Buyer’s election to extend the Due Diligence Period, Title Company hereby is instructed to promptly release the Deposit to Seller.
Failure of Conditions. In the event any of the conditions to the obligations of either party are not satisfied or waived as specified in Article Five hereof, and if any applicable cure period provided in Section 6.2 hereof has lapsed, then the party for whose benefit such conditions were imposed may, regardless of whether stockholder approval of this Agreement and the transactions contemplated hereby shall have been previously obtained, terminate and cancel this Agreement by delivery of written notice of such action to the other party on such date.
Failure of Conditions. So long as a party is not in default hereunder, if any condition to such party’s obligation to proceed with the Closing hereunder has not been satisfied as of the Closing or any other applicable date specified in this Agreement, such party may, in its sole discretion, either (a) terminate this Agreement by delivering written notice to the other party on or before the Closing Date, (b) extend the time available for the satisfaction of such condition, or (c) elect to close, notwithstanding the non-satisfaction of such condition, in which event such party shall be deemed to have waived any such condition. If such party elects to proceed pursuant to clause (b) above, and such condition remains unsatisfied after the end of such extension period, then, at such time, such party may elect to proceed pursuant to either clause (a) or (c) of the preceding sentence. In the event the failure of a condition precedent for the benefit of either party is not satisfied due to a breach of this Agreement by the other party, the benefitted party’s rights and remedies shall be as set forth in Section 9 (for example, a failure or refusal to perform a party’s obligations under this Agreement or actions resulting in a material title defect).
