Common use of Condition Failure Clause in Contracts

Condition Failure. If one or more of the conditions set forth in this Section is not, or cannot be, timely and completely satisfied, then, as its sole and exclusive remedy, the applicable party either may elect to: (a) waive satisfaction of the conditions and proceed to Closing; or (b) terminate this Agreement by a written notice to the other party; provided that, with respect to breaches of this Agreement by a party, the other party shall have the rights and remedies set forth in Section 12. Notwithstanding anything to the contrary set forth herein, Developer and Owner shall work diligently and in good faith to satisfy the conditions set forth in this Section.

Condition Failure. If one or more of the conditions set forth in this Section is not, or cannot be, timely and completely satisfied, then, as its sole and exclusive remedy, the applicable party either may elect to: (a) waive satisfaction of the conditions and proceed to Closing; or (b) terminate this Agreement by a written notice to the other party; provided that, with respect to breaches of this Agreement by a party, the other party shall have the rights and remedies set forth in Section 1217. Notwithstanding anything to the contrary set forth herein, Developer and Owner Sewer Board shall work diligently and in good faith to satisfy the conditions set forth in this Section.