Common use of Expiration of Feasibility Period Clause in Contracts

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to Seller. If Purchaser fails to provide Seller with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Initial Deposit Component and the Additional Deposit when delivered in accordance with Section 2.2.2 shall be non-refundable except as expressly provided in Sections 4.3, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to SellerDeposit). If Purchaser fails to provide Seller with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Deposit (including both the Initial Deposit Component and the Additional Deposit and, when delivered in accordance with Section 2.2.2 2.2.2, the Additional Deposit) shall be non-refundable except as expressly provided in Sections 4.3refundable, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller Seller’s Representative and Escrow Agent on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to SellerDeposit). If Purchaser fails to provide Seller Seller’s Representative with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Initial Deposit Component and the Additional Deposit (when delivered in accordance with Section 2.2.2 2.2.2) shall be non-refundable except as expressly provided in Sections 4.3, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller Purchaser as set forth in accordance with Section 10.2) 10.2 (but otherwise shall be refundable as expressly provided in this Agreement), and Purchaser’s obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear or any other title or survey matters are unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s 's sole and absolute discretion, then Purchaser shall have the right to terminate this Contract in its entirety with respect to all Properties (but not in part with respect to less than all Properties) by giving written notice to that effect to Seller Sellers' Representative and Escrow Agent no later than 5:00 p.m. on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises provides such right to terminatenotice, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to Seller. If Purchaser fails to provide Seller Sellers' Representative with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this ContractPeriod, Purchaser’s 's right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the entire Deposit (including both the Refundable Initial Deposit Component and the Additional Non-Refundable Initial Deposit Component of the Initial Deposit, and, when delivered in accordance with Section 2.2.2 , the Additional Deposit) shall be non-refundable except as expressly otherwise provided in Sections 4.3Section 2.2.1, 8.1, 10.2 and 11.1, Purchaser's obligation to purchase the Non-Refundable Initial Component Properties shall remain nonrefundable (except be conditional only as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser may, for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice (a “Termination Notice”) to that effect to Seller and Escrow Agent no later than 5:00 p.m. on or before 5:00 p.m. the date which is thirty (30) days after the Effective Date (the “Feasibility Period”). If Purchaser desires to proceed with the transaction contemplated herein, Purchaser may, in the time zone in which the Purchaser’s sole and absolute discretion, give written notice (a “Satisfaction Notice”) to that effect to Seller and Escrow Agent is located) on prior to the date of expiration of the Feasibility Period. If Purchaser exercises such right either delivers a Termination Notice or fails to terminatedeliver a Satisfaction Notice prior to the expiration of the Feasibility Period, in either case, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith automatically return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to Seller. If Purchaser fails to provide Seller with written notice of termination delivers a Satisfaction Notice prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this ContractPeriod, Purchaser’s right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Deposit (including both the Initial Deposit Component and the Additional Deposit and, when delivered in accordance with Section 2.2.2 2.2.2, the Additional Deposit) shall be non-refundable except as expressly provided in Sections 4.3refundable, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s obligation to purchase the Property shall be non-contingent and unconditional except conditional only for satisfaction of the conditions expressly stated as specifically provided in Section 8.1this Contract.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear are unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent (which notice may be given as provided in the following sentence) no later than 5:00 p.m. on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. The parties acknowledge and agree that, notwithstanding the notice requirement set forth in Section 13.6 hereof, an abbreviated email correspondence from Purchaser or Purchaser’s counsel to Seller and Seller’s counsel shall be an acceptable means of providing any such notice of termination. If Purchaser exercises provides such right to terminatenotice, this Contract shall automatically terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s obligation under Section 3.5.2 to return or certify on the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to Sellernext Business Day. If Purchaser fails to provide Seller with written or email notice (as provided in this Section 3.2) of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this ContractPeriod, Purchaser’s right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Initial Deposit Component and the Additional Deposit when delivered in accordance with Section 2.2.2 shall be non-refundable except as expressly provided in Sections 4.3, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) effect and Purchaser’s obligation to purchase the Property shall be non-contingent and unconditional except conditional only for satisfaction of the conditions expressly stated as provided in Section 8.18.1or as otherwise expressly provided herein.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s 's sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to upon the performance of Purchaser’s 's obligation under Section 3.5.2 to return or certify the destruction provide copies to Seller of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to SellerPurchaser). If Purchaser fails to provide Seller with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s 's right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Deposit (including both the Initial Deposit Component and the Additional Deposit and, when delivered in accordance with Section 2.2.2 2.2.2, the Additional Deposit) shall be non-refundable except as expressly provided in Sections 4.3refundable, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s 's obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.contingent

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s 's sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s 's obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-pre- condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to Seller). If Purchaser fails to provide Seller with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s 's right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Deposit (including both the Initial Deposit (including the Refundable Initial Deposit Component and the Additional Deposit Component) and, when delivered in accordance with Section 2.2.2 2.2.2, the Additional Deposit) shall be non-refundable except as expressly provided in Sections 4.3refundable, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s 's obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s 's sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s 's obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to SellerDeposit). If Purchaser fails to provide Seller with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s 's right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Deposit (including both the Initial Deposit Component and the Additional Deposit and, when delivered in accordance with Section 2.2.2 2.2.2, the Additional Deposit), except as expressly set forth herein the contrary, shall be non-refundable except as expressly provided in Sections 4.3refundable, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s 's obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s 's sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent on or before 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s 's obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to Seller). If Purchaser fails to provide Seller with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s 's right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Deposit (including both the Initial Deposit (including the Refundable Initial Deposit Component and the Additional Deposit Component) and, when delivered in accordance with Section 2.2.2 2.2.2, the Additional Deposit) shall be non-refundable except as expressly provided in Sections 4.3refundable, 8.1, 10.2 and 11.1, the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) and Purchaser’s 's obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.

Expiration of Feasibility Period. If the results of any of the matters referred to in Section 3.1 appear unsatisfactory to Purchaser for any reason or if Purchaser elects not to proceed with the transaction contemplated by this Contract for any other reason, or for no reason whatsoever, in Purchaser’s sole and absolute discretion, then Purchaser shall have the right to terminate this Contract by giving written notice to that effect to Seller and Escrow Agent on or before no later than 5:00 p.m. (in the time zone in which the Escrow Agent is located) on the date of expiration of the Feasibility Period. If Purchaser exercises such right to terminate, this Contract shall terminate and be of no further force and effect subject to and except for the Survival Provisions, and Escrow Agent shall forthwith return the Refundable Initial Deposit Component to Purchaser (subject to Purchaser’s obligation under Section 3.5.2 to return or certify the destruction of all Third-Party Reports and information and Materials provided to Purchaser as a pre-condition to the return of the Refundable Initial Deposit Component) and deliver the Non-Refundable Initial Deposit Component to SellerDeposit). If Purchaser fails to provide Seller with written notice of termination prior to the expiration of the Feasibility Period in strict accordance with the notice provisions of this Contract, Purchaser’s right to terminate under this Section 3.2 shall be permanently waived and this Contract shall remain in full force and effect, the Refundable Initial Deposit Component and the Additional Deposit when delivered in accordance with Section 2.2.2 shall be non-refundable except as expressly provided in Sections 4.3, 8.1, 10.2 and 11.1, for herein to the Non-Refundable Initial Component shall remain nonrefundable (except as provided in Section 8.1 or in the event of a default by Seller in accordance with Section 10.2) contrary and Purchaser’s obligation to purchase the Property shall be non-contingent and unconditional except only for satisfaction of the conditions expressly stated in Section 8.1.