Common use of Approval by Board of Directors Clause in Contracts

Approval by Board of Directors. Buyer shall have, within ------------------------------ ten (10) days following the Effective Date, obtained the approval of the Board of Directors (the "BOARD") of Xxxxxxxx Properties Trust, a real estate investment trust, which is a partner in Buyer. In the event the Board fails to approve the transaction contemplated hereby Buyer shall so notify Seller in which event this Agreement along with the Additional Property Agreements shall terminate and the Xxxxxxx Money shall be returned to Buyer. The failure to notify Seller of Buyer's election to terminate this Agreement in accordance with the provisions of this SECTION 4.1.8 within such ten (10) day period shall be deemed to be an election on the part of Buyer to waive such contingency.

Approval by Board of Directors. Buyer shall have, ------------------------------ within ------------------------------ ten (10) days following the Effective Date, obtained the approval of the Board of Directors (the "BOARDBoard") of Xxxxxxxx Properties Trust, a real estate investment trust, which is a partner in Buyer. In the event the Board fails to approve the transaction contemplated hereby Buyer shall so notify Seller in which event this Agreement along with the Additional Property Agreements shall terminate and the Xxxxxxx Money shall be returned to Buyer. The failure to notify Seller of Buyer's election to terminate this Agreement in accordance with the provisions of this SECTION 4.1.8 within such ten (10) day period shall be deemed to be an election on the part of Buyer to waive such contingency.

Approval by Board of Directors. Buyer shall have, within ten ------------------------------ ten (10) days following the Effective Date, obtained the approval of the Board of Directors (the "BOARD") of Xxxxxxxx Properties Trust, a real estate investment trust, which is a partner in Buyer. In the event the Board fails to approve the transaction contemplated hereby Buyer shall so notify Seller in which event this Agreement along with the Additional Property Agreements shall terminate and the Xxxxxxx Money shall be returned to Buyer. The failure to notify Seller of Buyer's election to terminate this Agreement in accordance with the provisions of this SECTION 4.1.8 within such ten (10) day period shall be deemed to be an election on the part of Buyer to waive such contingency.