Cancellation of Escrow. If the escrow fails to close because of Seller's default, Seller shall be liable for all customary escrow cancellation charges. If the escrow fails to close because of Purchaser's default, Purchaser shall be liable for all customary escrow cancellation charges. If the escrow fails to close for any other reason, Seller and Purchaser shall each be liable for one-half (1/2) of all customary escrow cancellation charges.
Cancellation of Escrow. Any party desiring to cancel this escrow shall deliver written notice of cancellation to Escrow Holder. Within a reasonable time after receipt of such notice, Escrow Holder shall send by regular mail to the address on the escrow instructions, one copy of said notice to the other party(ies). Unless written objection to cancellation is delivered to Escrow Holder by a party within 10 days after date of mailing, Escrow Holder is authorized at its option to comply with the notice and terminate the escrow. If a written objection is received by Escrow Holder, Escrow Holder is authorized at its option to hold all funds and documents in escrow (subject to the funds held fee) and to take no other action until otherwise directed by either the parties' mutual written instructions or a final order of a court of competent jurisdiction. If no action is taken on this escrow within 6 months after the closing date specified in the escrow instructions, Escrow Holder's obligations shall, at its option, terminate. Upon termination of this escrow, the parties shall pay all fees, charges and reimbursements due to Escrow Holder and all documents and funds held in escrow shall be returned to the parties depositing same.
Cancellation of Escrow. In the event that the Closing does not occur at the time and in the manner provided in this Agreement because of the default of one of the parties, the non- defaulting party has the right to cancel the Escrow by written notice to the defaulting party and to the Escrow Holder. All costs of cancellation of Escrow shall be paid by the defaulting party. If the Closing does not take place for any reason other than a default by one of the parties, the escrow cancellation costs shall be shared equally by Buyer and Seller.
Cancellation of Escrow. Notwithstanding the provisions of this Section 5, if the Escrow fails to close for any reason (other than the breach of this Agreement by one or both of the parties), the costs incurred through the Escrow shall be borne equally by Buyer and Seller. Otherwise, the party who breached this Agreement first shall bear all the costs of the Escrow.
Cancellation of Escrow. (i) In the event that, due to the failure of a party hereof (the “Defaulting Party”) to perform any of its material obligations hereunder, the Escrow does not close on or before the Closing Date, then the non-Defaulting Party may cancel the Escrow by written notice to the Defaulting Party and to Escrow Holder, and the Defaulting Party shall pay all cancellation fees of Escrow Holder and the Title Company. If Optionee is the Defaulting Party, each Optionor’s exclusive remedy is set forth in Section 11(c) hereof (subject to the exclusions set forth in such provision). If any Optionor is the Defaulting Party, Optionee’s remedies are as set forth in Section 11(b) hereof.
Cancellation of Escrow. If the escrow fails to close because of Xxxxx’s default, Donor shall be liable for all customary escrow cancellation charges. If the escrow fails to close because of Xxxxx’s default, Donee shall be liable for all customary escrow cancellation charges. If the escrow fails to close for any other reason, Donor and Donee shall each be liable for one-half (1/2) of all customary escrow cancellation charges.
Cancellation of Escrow. In the event that the Closing does not occur at the time and in the manner provided in this Agreement because of the default of one of the parties, the non-defaulting party has the right to cancel the Escrow by written notice to the defaulting party and to the Escrow Holder. All costs of cancellation of Escrow shall be paid by the defaulting party. If the Closing does not take place for any reason other than a default by one of the parties, the escrow cancellation costs shall be shared equally by Buyer and Seller, and Buyer shall be entitled to a return of the EMD plus accrued interest.
Cancellation of Escrow. Any principal requesting that NATC cancel this escrow shall file notice of demand to cancel in NATC’s office in writing. NATC shall within a reasonable time thereafter mail or otherwise deliver one copy of such notice of demand to cancel to the principals or their respective agents. Unless written objection to such notice of demand to cancel is filed with NATC within fifteen (15) calendar days after the date NATC mailed or delivered the initial notice of demand to cancel, NATC is authorized to cancel this escrow. If NATC cancels this escrow, it is authorized to return the documents to the parties. NATC is, in any event, authorized to hold any money deposited in escrow until it is in receipt of mutual written instructions signed by all parties or the order of a court of competent jurisdiction, concerning the disposition of such money. NATC may return lender’s papers and/or funds upon lender’s demand. In the event of cancellation of this escrow, the fees and charges due NATC, including expenditures incurred or authorized, shall be borne by the parties or decided by a court of competent jurisdiction.
Cancellation of Escrow. If the Close of Escrow fails to occur because of either party's default, then the defaulting party shall pay all Escrow cancellation and Title Company charges.
