Common use of Further Covenant Clause in Contracts

Further Covenant. Seller shall advise Purchaser of any knowledge Seller has or comes into with respect to a material adverse change to the Real Property prior to Closing, including, but not limited to, one or more tenants ceasing operations from the Real Property and/or terminating their Leases, one or more major occupants of property adjoining the Real Property (i.e., so-called “shadow anchors”) ceasing operations from their respective premises, etc., failing of which, the same shall be deemed a breach of a warranty and representation without the ability in Seller to cure the same and thereafter, Purchaser shall have the right, upon notice thereof to Seller on or prior to Closing, to terminate this Agreement and thereupon to receive an immediate refund of the Deposit and neither party shall thereafter have any further liability or obligation hereunder except for such liabilities and obligations that are expressly stated herein to survive termination of this Agreement.

Further Covenant. Seller shall advise Purchaser of any knowledge Seller has or comes into with respect to a material adverse change to the Real Property prior to Closing, including, but not limited to, one or more tenants ceasing operations from the Real Property and/or terminating their Leases, one or more major occupants of property adjoining the Real Property (i.e., so-called “shadow anchors”) ceasing operations from their respective premises, etc., failing of which, the same shall be deemed a breach of a warranty and representation without the ability in Seller to cure the same and thereafter, Purchaser shall have the right, upon notice thereof to Seller on or prior to Closing, to terminate this Agreement and thereupon to receive an immediate refund of the Deposit and neither party shall thereafter have any further liability or obligation hereunder except for such liabilities and obligations that are expressly stated herein to survive termination of this Agreement. [Balance of Page intentionally left blank.]

Further Covenant. Seller shall advise Purchaser of any knowledge Seller has or comes into with respect to a material adverse change to the Real Property prior to Closing, including, but not limited to, one or more tenants ceasing operations from the Real Property and/or terminating their Leases, one or more major occupants of property adjoining the Real Property (i.e., so-called “shadow anchors”) ceasing operations from their respective premises, etc., failing of which, the same shall be deemed a breach of a warranty and representation without the ability in Seller to cure the same and thereafter, Purchaser shall have the right, upon notice thereof to Seller on or prior to Closing, to terminate this Agreement and thereupon to receive an immediate refund of the Deposit and neither party shall thereafter have any further liability or obligation hereunder except for such liabilities and obligations that are expressly stated herein to survive termination of this Agreement.