Common use of Notice of Breach; Seller’s Right to Cure Clause in Contracts

Notice of Breach; Seller’s Right to Cure. If after expiration of the Due Diligence Period but prior to the Close of Escrow, Seller obtains actual knowledge that any of the representations and warranties made herein by Seller are untrue, inaccurate or incorrect in any material respect, then Seller shall give Purchaser written notice thereof (a “Breach Notice”) within five (5) days of obtaining such knowledge (but in any event prior to the Closing). In such case, Seller shall have the right, but not the obligation, to cure such misrepresentation or breach, and if Seller elects to cure such misrepresentation or breach Seller shall deliver written notice (a “Cure Notice”) to Purchaser of such election, whereupon the Closing Date shall be extended for thirty (30) days. If Seller is unable to cure such breach or misrepresentation to Purchaser’s satisfaction, if Seller elects not to cure such misrepresentation or breach, or if a Cure Notice is not delivered by Seller to Purchaser (in accordance with Section 12.4) within five (5) days after receipt by Seller or Purchaser (as the case may be) of the applicable Breach Notice, then Purchaser shall have the remedies set forth in Section 10.1.

Notice of Breach; Seller’s Right to Cure. If If, after expiration of the Due Diligence Contingency Period but prior to the Close of Escrow, Buyer or Seller obtains actual knowledge that any of the representations and warranties made herein by Seller are untrue, inaccurate or incorrect in any material respect, then Seller such party shall give Purchaser the other party written notice thereof (a “Breach Notice”) within five (5) days of obtaining such knowledge (but in any event prior to the Closing). Close of Escrow.) In such case, Seller shall have the right, but not the obligation, to cure such misrepresentation or breach, breach and if Seller elects shall be entitled to cure such misrepresentation or breach Seller shall deliver written notice (a “Cure Notice”) to Purchaser reasonable adjournment of such election, whereupon the Closing Date shall be extended for thirty (30) daysthe purpose of such cure. If Seller is unable to cure such breach or misrepresentation to Purchaser’s satisfaction, if Seller otherwise elects not to so cure any such misrepresentation or breach, then Buyer, as its sole and exclusive remedy for any and all such materially untrue, inaccurate or if a Cure Notice is not delivered incorrect representations or warranties discovered by Buyer prior to the Close of Escrow, shall elect either (a) to waive such misrepresentations or breaches of warranties and consummate the transactions contemplated herein without any reduction of or credit against the Purchase Price, or (b) to terminate this Agreement by written notice given to Seller on the Closing Date, in which event this Agreement shall be terminated, the Deposit shall be returned to Purchaser (in accordance with Section 12.4) within five (5) days after receipt by Seller or Purchaser (as the case may be) of the applicable Breach Notice, then Purchaser Buyer and neither party shall have any further rights or obligations hereunder, except for those rights and obligations which expressly survive the remedies set forth in Section 10.1termination of this Agreement.

Notice of Breach; Seller’s Right to Cure. If If, after expiration of the Due Diligence Contingency Period but prior to the Close of Escrow, Buyer or Seller obtains actual knowledge that any of the representations and warranties made herein by Seller are untrue, inaccurate or incorrect in any material respect, then Seller such party shall give Purchaser the other party written notice thereof (a “Breach Notice”) within five (5) days of obtaining such knowledge (but in any event prior to the ClosingClose of Escrow). In such case, Seller shall have the right, but not the obligation, to cure such misrepresentation or breach, breach and if Seller elects shall be entitled to cure such misrepresentation or breach Seller shall deliver written notice (a “Cure Notice”) to Purchaser reasonable adjournment of such election, whereupon the Closing Date shall be extended for thirty (30) daysthe purpose of such cure. If Seller is unable to cure such breach or misrepresentation to Purchaser’s satisfaction, if Seller otherwise elects not to so cure any such misrepresentation or breach, then Buyer, as its sole and exclusive remedy for any and all such materially untrue, inaccurate or if a Cure Notice is not delivered incorrect representations or warranties discovered by Buyer prior to the Close of Escrow, shall elect either (a) to waive such misrepresentations or breaches of warranties and consummate the transactions contemplated herein without any reduction of or credit against the Purchase Price, or (b) to terminate this Agreement by written notice given to Seller on the Closing Date, in which event this Agreement shall be terminated, the Deposit shall be returned to Purchaser (in accordance with Section 12.4) within five (5) days after receipt by Seller or Purchaser (as the case may be) of the applicable Breach Notice, then Purchaser Buyer and neither party shall have any further rights or obligations hereunder, except for those rights and obligations which expressly survive the remedies set forth in Section 10.1termination of this Agreement.