Common use of Due Diligence/Termination Right Clause in Contracts

Due Diligence/Termination Right. Purchaser shall have through 5:00 p.m. Dallas, Texas time on the last day of the Inspection Period in which to (a) examine, inspect, and investigate the Property Information and the Additional Property Information (collectively, the “Property Documents”) and the Property and, in Purchaser’s sole and absolute judgment and discretion, determine whether the Property is acceptable to Purchaser, (b) obtain all necessary internal approvals, and (c) satisfy all other contingencies of Purchaser. Notwithstanding anything to the contrary in this Agreement, Purchaser may terminate this Agreement for any reason or no reason by giving written notice of termination to Seller and Escrow Agent (the “Due Diligence Termination Notice”) prior to 5:00 p.m. Dallas, Texas time on the last day of the Inspection Period. In the event that Purchaser obtains an environmental report (including a Phase II environmental site assessment) from a third-party service provider that identifies one or more recognized environmental conditions indicating the presence of Hazardous Materials or should a Phase I environmental site assessment recommend performance of a Phase II environmental site assessment (the “Hazardous Materials Condition”), then Purchaser shall be entitled to terminate this Agreement upon written notice to Seller delivered prior to the expiration of the Inspection Period (the “Environmental Termination Notice”), in which event the Xxxxxxx Money shall be returned to Purchaser, as described in Section 3.4 above. If Purchaser does not timely give a Due Diligence Termination Notice or an Environmental Termination Notice, this Agreement shall continue in full force and effect, Purchaser shall be deemed to have waived its right to terminate this Agreement pursuant to this Section 4.4, and Purchaser shall be deemed to have acknowledged that it has received or had access to all Property Documents and conducted all inspections and tests of the Property that it considers important.

Due Diligence/Termination Right. Purchaser shall have through 5:00 p.m. Dallas, Texas time on the last day of the Inspection Period in which to (a) examine, inspect, and investigate the Property Information and the Additional Property Information (collectively, the “"Property Documents”") and the Property and, in Purchaser’s 's sole and absolute judgment and discretion, determine whether the Property is acceptable to Purchaser, (b) obtain all necessary internal approvals, and (c) satisfy all other contingencies of Purchaser. Notwithstanding anything to the contrary in this Agreement, Purchaser may terminate this Agreement for any reason or no reason by giving written notice of termination to Seller and Escrow Agent (the “"Due Diligence Termination Notice”") prior to 5:00 p.m. Dallas, Texas time on the last day of the Inspection Period. In the event that Purchaser obtains an environmental report (including a Phase II environmental site assessment) from a third-party service provider that identifies one or more recognized environmental conditions indicating the presence of Hazardous Materials or should a Phase I environmental site assessment recommend performance of a Phase II environmental site assessment (the “Hazardous Materials Condition”), then Purchaser shall be entitled to terminate this Agreement upon written notice to Seller delivered prior to the expiration of the Inspection Period (the “Environmental Termination Notice”), in which event the Xxxxxxx Money shall be returned to Purchaser, as described in Section 3.4 above. If Purchaser does not timely give a Due Diligence Termination Notice or an Environmental Termination Notice, this Agreement shall continue in full force and effect, Purchaser shall be deemed to have waived its right to terminate this Agreement pursuant to this Section 4.4, and Purchaser shall be deemed to have acknowledged that it has received or had access to all Property Documents and conducted all inspections and tests of the Property that it considers important. Notwithstanding anything to the contrary set forth herein, Purchaser acknowledges that Inspection Period has expired and that by delivering an executed copy of this Agreement to Seller, Purchaser has waived its right to deliver a Due Diligence Termination Notice.

Due Diligence/Termination Right. Purchaser shall have through 5:00 p.m. DallasOrlando, Texas Florida time on the last day of the Inspection Period in which to (a) examine, inspect, and investigate the Property Information and the Additional Property Information (collectively, the “"Property Documents”") and the Property and, in Purchaser’s 's sole and absolute judgment and discretion, determine whether the Property is acceptable to Purchaser, (b) obtain all necessary internal approvals, and (c) satisfy all other contingencies of Purchaser. Notwithstanding anything to the contrary in this Agreement, Purchaser may terminate this Agreement for any reason or no reason by giving written notice of termination to Seller Sellers and Escrow Agent (the “"Due Diligence Termination Notice”") prior to 5:00 p.m. DallasOrlando, Texas Florida time on the last day of the Inspection Period. In the event that Purchaser obtains an environmental report (including a Phase II environmental site assessment) from a third-party service provider that identifies one or more recognized environmental conditions indicating the presence of Hazardous Materials or should a Phase I environmental site assessment recommend performance of a Phase II environmental site assessment (the “"Hazardous Materials Condition”"), then Purchaser Sellers shall be entitled to terminate this Agreement upon written notice to Seller Purchaser delivered prior to the expiration of the Inspection Period (the “Environmental Termination Notice”), in which event the Xxxxxxx Money shall be returned to Purchaser, as described in Section 3.4 above. If If, in Purchaser’s sole and absolute discretion, Purchaser does not timely determines that it desires to consummate the purchase of the Property contemplated hereby, then Purchaser will give a Due Diligence Termination Notice or an Environmental Termination written notice thereof (the “Closing Notice”) to Sellers, prior to the expiration of the Inspection Period. In the event that Purchaser provides Sellers with the Closing Notice, this Agreement shall continue in full force and effect, then Purchaser shall will be deemed to have waived its right to terminate this Agreement pursuant to termination rights under this Section 4.4, and Purchaser shall be deemed the parties will proceed to have acknowledged that it has received or had access Closing, subject to all Property Documents other terms and conducted all inspections and tests conditions of this Agreement. If Purchaser does not give Sellers the Closing Notice prior to the expiration of the Property that it considers important.Inspection Period and has not previously delivered the Due Diligence Termination Notice, then this Agreement automatically shall terminate upon the expiration of the Inspection Period, and, in such event, immediately following written request to the Escrow Agent from Purchaser, the Escrow Agent shall return all of the Xxxxxxx Money to Purchaser, without the consent or joinder of Sellers being required and notwithstanding any contrary instructions which might be provided by Sellers, and neither party shall have any further rights or obligations hereunder except as otherwise provided herein..

Due Diligence/Termination Right. Purchaser shall have through until 5:00 p.m. Dallas, Texas eastern time on the last day of the Inspection Period in which to (a) examine, inspect, and investigate the Property Information and the Additional Property Information (collectively, the “Property Documents”) and the Property and, in Purchaser’s sole and absolute judgment and discretion, determine whether the Property is acceptable to Purchaser, (b) obtain all necessary internal approvals, and (c) satisfy all other contingencies of Purchaser. Notwithstanding anything to the contrary in this Agreement, Purchaser may terminate this Agreement for any reason or no reason at all by giving sending written notice of termination thereof to Seller and Escrow Agent (on or before the “Due Diligence Termination Notice”) prior to 5:00 p.m. Dallas, Texas eastern time on the last day of the Inspection Period. In the event that Purchaser obtains an environmental report (including a Phase II environmental site assessment) from a third-party service provider that identifies one or more recognized environmental conditions indicating the presence of Hazardous Materials or should a Phase I environmental site assessment recommend performance of a Phase II environmental site assessment (the “Hazardous Materials Condition”)addition, then Purchaser shall be entitled deemed to have accepted the Property and elected to proceed to Closing under this Agreement unless Purchaser delivers to Seller written notice of Purchaser’s election to terminate this Agreement upon written notice to Seller delivered prior to (the expiration “Due Diligence Termination Notice“) on or before 5:00 p.m. eastern time on the last day of the Inspection Period (the “Environmental Termination Notice”), in which event the Xxxxxxx Money shall be returned to Purchaser, as described in Section 3.4 abovePeriod. If Unless Purchaser does not timely give delivers a Due Diligence Termination Notice or an Environmental Termination Noticepursuant to this Section 4.3, then upon expiration of the Inspection Period, this Agreement shall continue in full force and effect, and Purchaser shall be deemed to have waived its right to terminate this Agreement pursuant to this Section 4.44.3. In the event Purchaser timely delivers a Due Diligence Termination Notice pursuant to this Section 4.3, and Purchaser the Xxxxxxx Money shall be deemed returned to have acknowledged that it has received or had access to all Property Documents and conducted all inspections and tests of the Property that it considers importantPurchaser.

Due Diligence/Termination Right. Purchaser shall have through 5:00 p.m. DallasOrlando, Texas Florida time on the last day of the Inspection Period in which to (a) examine, inspect, and investigate the Property Information and the Additional Property Information (collectively, the “"Property Documents”") and the Property and, in Purchaser’s 's sole and absolute judgment and discretion, determine whether the Property is acceptable to Purchaser, (b) obtain all necessary internal approvals, and (c) satisfy all other contingencies of Purchaser. Notwithstanding anything to the contrary in this Agreement, Purchaser may terminate this Agreement for any reason or no reason by giving written notice of termination to Seller and Escrow Agent (the “"Due Diligence Termination Notice”") prior to 5:00 p.m. DallasOrlando, Texas Florida time on the last day of the Inspection Period. In the event that Purchaser obtains an environmental report (including a Phase II environmental site assessment) from a third-party service provider that identifies one or more recognized environmental conditions indicating the presence of Hazardous Materials or should a Phase I environmental site assessment recommend performance of a Phase II environmental site assessment (the “"Hazardous Materials Condition”"), then Purchaser Seller shall be entitled to terminate this Agreement upon written notice to Seller Purchaser delivered prior to the expiration of the Inspection Period (the “Environmental Termination Notice”), in which event the Xxxxxxx Money shall be returned to Purchaser, as described in Section 3.4 above. If If, in Purchaser’s sole and absolute discretion, Purchaser does not timely determines that it desires to consummate the purchase of the Property contemplated hereby, then Purchaser will give a Due Diligence Termination Notice or an Environmental Termination written notice thereof (the “Closing Notice”) to Seller, prior to the expiration of the Inspection Period. In the event that Purchaser provides Seller with the Closing Notice, this Agreement shall continue in full force and effect, then Purchaser shall will be deemed to have waived its right to terminate this Agreement pursuant to termination rights under this Section 4.4, and Purchaser shall be deemed the parties will proceed to have acknowledged that it has received or had access Closing, subject to all Property Documents other terms and conducted all inspections and tests conditions of this Agreement. If Purchaser does not give Seller the Closing Notice prior to the expiration of the Property that it considers important.Inspection Period and has not previously delivered the Due Diligence Termination Notice, then this Agreement automatically shall terminate upon the expiration of the Inspection Period, and, in such event, immediately following written request to the Escrow Agent from Purchaser, the Escrow Agent shall return all of the Xxxxxxx Money to Purchaser, without the consent or joinder of Seller being required and notwithstanding any contrary instructions which might be provided by Seller, and neither party shall have any further rights or obligations hereunder except as otherwise provided herein..