Common use of Approval of Inspections Clause in Contracts

Approval of Inspections. If Purchaser determines at any time prior to the expiration of the Inspection Period that the Property is not satisfactory to Purchaser, then Purchaser may terminate this Contract by delivering written notice of termination to Seller prior to the end of such Inspection Period. If Purchaser properly terminates this Contract pursuant to this Section 5.2, then this Contract shall be terminated, the Title Company shall return the Exxxxxx Money Deposit to Purchaser, and neither party shall have any further rights, duties or obligations hereunder except with respect to the provisions of this Contract which expressly survive the termination of this Contract. If Purchaser does not timely deliver to Seller written notice of termination during the Inspection Period, the conditions of this Section 5.2 shall be deemed satisfied, and Purchaser may not thereafter terminate this Contract pursuant to this Section 5.2.

Appears in 4 contracts

Samples: Assignment of Purchase Agreement (Aei Income & Growth Fund 25 LLC), Assignment of Purchase Agreement (Aei Net Lease Income & Growth Fund Xx Limited Partnership), Contract of Sale (Aei Net Lease Income & Growth Fund Xix Limited Partnership)

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Approval of Inspections. If Purchaser determines at any time prior to the expiration of the Inspection Period Period, that the Property is not satisfactory to Purchaser, then Purchaser may terminate this Contract by delivering deliver written notice of termination to Seller prior to the end of Seller, within such Inspection Period. If Purchaser properly terminates this Contract pursuant to this , given in accordance with the provisions of Section 13.1 Section 5.2, then this Contract shall be terminated, the Title Company shall return the Exxxxxx Money inrwhichreventttheoTitleiCompanyishalltreturnutheaEarnesthMoney Deposit to Purchaser, Purchaser and neither party shall have any further rights, duties liabilities or obligations hereunder hereunder, except with respect to the for provisions of this Contract which by their terms expressly survive the termination of this Contract. If Purchaser does not timely deliver to Seller written notice of termination during the within such Inspection Period, the conditions of this Section 5.2 shall be deemed satisfied, and Purchaser shall be deemed to have approved the condition of the Property and may not thereafter terminate this Contract pursuant to this Section 5.2.

Appears in 1 contract

Samples: Contract of Sale (Us Realty Partners LTD Partnership)

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Approval of Inspections. If Purchaser determines at any time prior to the expiration of the Inspection Period Period, that the Property is not satisfactory to PurchaserPurchaser for any reason, then Purchaser may terminate this Contract by delivering deliver written notice of termination such determination to Seller prior to the end of within such Inspection Period. If , given in accordance with the provisions of Section 13.1 hereof, stating that Purchaser properly terminates this Contract pursuant to this Section 5.2is not satisfied with the condition of the Property, then this Contract shall be terminated, in which event the Title Company shall return the Exxxxxx Earnest Money Deposit to Purchaser, Purchaser and neither party shall have any further rightsfxxxxxx rights or liabilities hereunder, duties or obligations hereunder except with respect to the for provisions of this Contract which expressly survive the termination of this Contract. If Purchaser does not timely deliver to Seller written notice of termination during the within such Inspection Period, the conditions of this Section 5.2 shall be deemed satisfied, and Purchaser shall be deemed to have approved the condition of the Property and may not thereafter terminate this Contract pursuant to this Section 5.2.

Appears in 1 contract

Samples: Contract of Sale (Century Properties Fund Xv)

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