Failure of Seller’s Conditions. If any of the conditions to Seller's obligations have not been satisfied on or before the Closing Date as a result of Buyer's failure to comply with its obligations hereunder for a period of 30 days after receipt of Notice from Seller of such failure, and Seller is otherwise in material compliance with the terms hereof, Seller may terminate this Contract and receive the Deposit as liquidated damages pursuant to Section 14.01 hereof.
Appears in 2 contracts
Samples: Lease Agreement (Itt Corp /Nv/), Lease Agreement (Felcor Suite Hotels Inc)
Failure of Seller’s Conditions. If any of the ------------------------------- conditions to any Seller's obligations have not been satisfied on or before the Closing Date as a result of Buyer's failure to comply with any of its obligations hereunder for a period of 30 days after receipt of Notice notice from such Seller of such failure, and Seller is all Sellers are otherwise in material compliance with the terms hereof, Seller Sellers may terminate this Contract and receive the Deposit as liquidated damages pursuant to Section 14.01 hereof.
Appears in 1 contract
Samples: Contract for Purchase and Sale of Hotels (American General Hospitality Corp)
Failure of Seller’s Conditions. If any of the ------------------------------- conditions to Seller's obligations have not been satisfied on or before the Closing Date as a result of Buyer's failure to comply with any of its obligations hereunder for a period of 30 days after receipt of Notice notice from Seller of such failure, and Seller is otherwise in material compliance with the terms hereof, Seller may terminate this Contract and receive the Deposit as liquidated damages pursuant to Section 14.01 hereof.
Appears in 1 contract
Samples: American General Hospitality Corp
