Newly Discovered Conditions Sample Clauses

Newly Discovered Conditions. If, subsequent to the Contingency Date --------------------------- and prior to Closing, a condition of title or an exception to title insurance coverage is discovered by Buyer or disclosed to Buyer by Title Company that materially adversely affects the value or use of the Property, and such condition or exception then shall not have been previously referenced in the PTR or any supplement thereto that shall have been delivered to Buyer prior to or during the Due Diligence Period, reasonably apparent from physical inspection of the Property, or otherwise known to Buyer (a "Newly Discovered Condition"), then Buyer either shall deliver to Seller written notice of Buyer's objection to such Newly Discovered Condition within ten days from Buyer's first receipt of notice of such Newly Discovered Condition (and delivery of a supplement or amendment to the PTR to Buyer shall constitute notice of any Newly Discovered Conditions disclosed therein), or if such notice of objection is not so delivered within such time then Buyer shall be deemed to have accepted such Newly Discovered Condition. If Buyer so delivers such notice of objection within such time, then within ten days after receipt of such notice of objection, Seller either shall deliver notice to Buyer electing to cure such Newly Discovered Condition on or before the Closing (and, without limitation, provision of title insurance coverage for such Newly Discovered Condition shall constitute such a cure), or if Seller does not so deliver such notice of election to cure within such time, then as of the tenth day following Seller's receipt of Buyer's timely delivered notice of objection Seller shall be deemed to have declined to cure such Newly Discovered Condition. Seller shall have no liability for or as a consequence of any Newly Discovered Condition or failure to cure any such condition. Buyer's sole and exclusive remedy on account of any Newly Discovered Condition shall be to deliver written notice of objection within the first ten- day period referenced above in this Subsection, and if Seller shall decline or fail to cure such Newly Discovered Condition as to which Buyer shall have so timely delivered notice of objection, then Buyer shall have the option to terminate this transaction and receive a refund of the Deposit (less Buyer's share of escrow cancellation charges) which option shall be exercised, if at all, only by delivery of written notice to Seller of Buyer's election so to terminate within ten days...
Sample 1
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Related to Newly Discovered Conditions

  • Company Closing Conditions The Company’s obligation to consummate the transaction hereunder at the Closing shall be subject to the following conditions, any one or more of which may be waived by the Company:

  • FPS Closing Conditions (a) The obligation of the Purchaser to purchase the Forward Purchase Securities at the FPS Closing under this Agreement shall be subject to the fulfillment, at or prior to the FPS Closing of each of the following conditions, any of which, to the extent permitted by applicable laws, may be waived by the Purchaser:

  • Purchaser’s Conditions The respective obligation of each Purchaser to consummate the purchase of the Purchased Units shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by such Purchaser in writing, in whole or in part with respect to its Purchased Units, to the extent permitted by applicable Law):

  • Post-Closing Conditions On or before each of the dates specified in this Section 4.3, Borrower shall satisfy each of the items specified in the subsections below:

  • Seller’s Conditions The obligations of Seller at the Closing are subject, at the option of Seller, to the satisfaction at or prior to the Closing of the following conditions:

  • Actions to Satisfy Closing Conditions Each Party shall take all actions as are within its power and otherwise use its commercially reasonable efforts so as to ensure compliance with the conditions set forth in this Section 6.

  • Seller’s Closing Conditions The obligations of Seller under this Agreement are subject, at the option of Seller, to the satisfaction, at or prior to the Closing, of the following conditions:

  • Purchaser’s Closing Conditions The Purchaser’s obligations to close the transactions described in this Agreement are subject to the satisfaction at or prior to Closing of the following conditions precedent (the “Purchaser’s Closing Conditions”):

  • Buyer’s Closing Conditions The obligations of Buyer under this Agreement are subject, at the option of Buyer, to the satisfaction, at or prior to the Closing, of the following conditions:

  • Forward Closing Conditions (a) The obligation of the Purchaser to purchase the Forward Purchase Securities at the Forward Closing under this Agreement shall be subject to the fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent permitted by applicable laws, may be waived by the Purchaser:

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