DEPOSIT BECOMES NON-REFUNDABLE Sample Clauses
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DEPOSIT BECOMES NON-REFUNDABLE. If Buyer elects not to terminate this Agreement pursuant to the provisions of Article II, Section 3.4 or this Article IV, then Seller and Buyer agree that the Deposit shall thereafter become forfeited and non-refundable, but shall remain applicable to the Purchase Price. As used herein, “forfeited and non-refundable” shall mean that Buyer shall not be entitled to a refund of any portion of the Deposit for any reason whatsoever, save and except for (a) Seller’s breach of its obligations hereunder, or (b) Seller’s or Buyer’s termination of this Agreement pursuant to any of its rights under this Agreement where a return of the Deposit is expressly provided for.
DEPOSIT BECOMES NON-REFUNDABLE. Upon the expiration of the Due Diligence Period without exercise by Buyer of Buyer' s right to terminate this Agreement pursuant to Section 4.3.3 hereof, the Deposit shall be non-refundable except for (i) default under this Agreement on the part of Seller (all of the conditions to Seller's obligation to close having been satisfied or waived); (ii) termination by Buyer due to Seller's failure or inability to cure any title or survey objections which Seller has elected to cure as provided in Section 4.2.2 hereof; or (iii) termination by Buyer due to Seller's failure to perform or satisfy the conditions set forth in Section 7.1 hereof before, on or as of the Closing Date (all of the conditions to Seller's obligation to close having been satisfied or waived). The term "Deposit" shall refer to the Deposit, plus any interest earned thereon.