Purchasers Contingencies Sample Clauses
The Purchaser's Contingencies clause defines specific conditions that must be satisfied before the buyer is obligated to complete the purchase. Typically, these contingencies may include securing financing, satisfactory inspection results, or obtaining necessary approvals. If any of these conditions are not met within the agreed timeframe, the purchaser can withdraw from the contract without penalty. This clause primarily protects the buyer by ensuring they are not forced to proceed with the transaction if key requirements are not fulfilled, thereby reducing their risk.
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Purchasers Contingencies. Purchaser’s obligations under this Agreement will be contingent on satisfactory inspections of the Property (by Purchaser or Purchaser’s representatives), including, by way of example but not limitation, the soil, ground water, and other components of the Property, at Purchaser’s sole option and expense, within 30 business days after Purchaser’s receipt of an accepted copy of this Agreement from Seller. If Purchaser, in Purchaser’s sole discretion, is not satisfied with the results of the physical inspections for any reason, Purchaser will notify Seller in writing within 7 business days after the expiration of the 30-day inspection period. If the inspection (or inspections) or tests are not satisfactory to Purchaser, on receipt of written notice, Seller will immediately refund to Purchaser all sums deposited by Purchaser under this Agreement and this Agreement will be terminated and of no further force and effect. If no written objection is made by Purchaser within the stated period, this inspection contingency will be deemed to be waived by Purchaser and the parties will proceed to closing in accordance with the terms of this Agreement. Purchaser’s obligations under this Agreement will also be contingent on Seller, at Seller’s sole expense, obtaining an inspection of the soil percolation systems by the county department of environmental health or other county agency responsible for conducting these tests or a private contractor who is duly licensed and qualified to conduct these tests within 10 business days of Purchaser’s receipt of an accepted copy of the Agreement from Seller. Within the 10-day period, Seller will deliver to Purchaser a written report of the inspection and tests, signed by the appropriate governmental agency. Purchaser will have 3 business days after actual receipt by Purchaser of the written report to notify Seller of Purchaser’s dissatisfaction with the results of the inspection or tests. If the inspection or tests are not satisfactory to Purchaser, on receipt of written notice, Seller will immediately refund to Purchaser all sums deposited by Purchaser under this Agreement where this Agreement will be terminated and of no further force and effect. If no written objection is made by Purchaser within the stated period, this soil percolation contingency will be deemed to be waived by Purchaser and the parties will proceed to closing in accordance with the terms of this Agreement and Purchaser will be deemed to have purchased the Proper...
Purchasers Contingencies. This Agreement is contingent upon the following:
A. Financial Records: Purchaser or Purchaser’s agents review, audit and acceptance of the Seller’s financial records and support documentation within Thirty (30) business days of receipt of such records and documentation from Seller. Purchaser acknowledges that Broker has not verified the accuracy of Sellers operating or financial data, and Broker makes no warranties as to the accuracy of such information.
Purchasers Contingencies. In the event that any contingency set forth in this Section 4 has not been either satisfied or waived as of the Contingency Termination Date (as hereinafter defined (subject to the notice of waiver and election to cure provisions set forth in Section 4.C)), this Agreement shall be terminated, the Deposit shall be returned to Purchaser, Purchaser shall deliver all documents provided to Purchaser by Seller together with any final reports prepared by Purchaser’s consultants (to the extent assignable) (other than confidential attorney client or attorney work product privileged documents, or information relating to analysis of usability or feasibility of the Property or work product, marketing studies, and information relating to Purchaser itself) relating in any way to the Property (the “Due Diligence Reports”) to Seller without warranty as to the accuracy or completeness of any such Due Diligence Reports, and the Escrow shall thereupon be canceled, and neither party shall have any further obligation to the other except for Purchaser’s obligations which are expressly stated to survive. Costs for cancellation of Escrow and all Title Company costs shall be shared equally by Purchaser and Seller. The “
Purchasers Contingencies. It is understood and agreed that the obligation of Purchaser to purchase the premises is expressly contingent upon the achievement or satisfaction of all of the following conditions, any or all of which the Purchaser shall have the right to waive, in whole or in part. The Purchaser shall not have the right to extend any time periods referred to herein unless such extension is agreed to in writing signed by both Seller and Purchaser. Said conditions are as follows: SALE OF ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Page-5 --------------------------------------------------------------------------------
(a) Purchaser obtaining a commitment (the "Commitment") from United National Bank ("the Lender") for a mortgage loan (the "Loan") in the amount of $900,000 with interest at the prevailing rates for a prevailing year term. Purchaser agrees to make immediate application for such Loan and promptly comply with all of such Lender's reasonable requirements in connection with such Loan. Purchaser shall proceed with due diligence to obtain such commitment. In the event Purchaser has not obtained the Commitment from the Lender within sixty (60) days of the date on which Seller and Purchaser have both duly executed this Agreement and each has received a fully executed counterpart thereof (the "Execution Date"), either party may terminate this Agreement by written notice sent before the 63rd day or this contingency is waived.
Purchasers Contingencies. Purchaser’s obligation to purchase the Property is expressly contingent upon the following (collectively, “Purchaser’s Contingencies”):
Purchasers Contingencies. The Purchaser’s obligations herein are contingent upon and subject to the satisfaction on, and as of, the Closing, of each of the following conditions (any of which may be waived in whole or in part in writing by Purchaser on, or prior to the Closing):
Purchasers Contingencies. Purchaser’s obligation to consummate the transactions herein contemplated is contingent upon the following which shall be released as noted below in this Paragraph 12:
a. The execution and delivery of a Fiber Supply Agreement in the form attached hereto as Exhibit “G” and incorporated herein by this reference at the Phase I Closing.
b. Purchaser’s completion of review and approval of title to the Property pursuant to the provisions of Paragraph 4 hereof. Release Date: end of Title Review Period.
c. Purchaser’s completion of review and approval of a Phase I environmental assessment pursuant to the provisions of Paragraph 5.3 hereof. Release Date: end of Environmental Review Period. July 30, 2008, unless extended as permitted in Paragraph 5.3.
d. Agreement between Seller and Purchaser with respect to both the location and the applicable terms and conditions regarding the reservation by Seller of any rights of way or nonexclusive easements over existing roads within the Property to serve lands now owned or later acquired by Seller, and on the granting of any similar easements or rights of way by Seller in favor of Purchaser over and across Seller’s retained lands for the benefit of lands being conveyed to Purchaser under this Agreement or now owned or later acquired by Purchaser. Release Date: July 30, 2008.
e. In the event the parties determine that a filing under the HSR Act as provided under Paragraph 17 hereof is required, the parties will have received such approval. Release Date: December 1, 2008.
f. Approval by the boards of directors of TNC and TPL in their sole and absolute discretion as provided in Paragraph 12.4 below. Release Date: July 30, 2008.
Purchasers Contingencies. Contingencies. During the period beginning on Effective Date and ending at 5:00 p.m. (local time at the Property) on the forty-fifth (45th) day following the Effective Date (hereinafter referred to as the “Contingency Period”), Purchaser obligations under this Agreement shall be subject to and contingent upon the satisfaction or waiver by Purchaser of each of the following:
Purchasers Contingencies. In the event that any contingency set forth in this Section VI has not been either satisfied or waived as of the Contingency Termination Date (subject to the notice of waiver and election to cure provisions set forth in Section VI.C below), this Agreement shall be terminated, the Deposit plus all accrued interest shall be returned to Purchaser, Purchaser shall deliver all documents provided to Purchaser by Seller together with any final reports prepared by Purchaser’s consultants (to the extent assignable) (other than confidential attorney client or attorney work product privileged documents) relating in any way to the Property (the “Due Diligence Reports”) to Seller, and the Escrow shall thereupon be canceled, and neither party shall have any further obligation to the other except for Purchaser’s obligations which are expressly intended to survive. Costs for cancellation of Escrow and all Title Company costs shall be shared equally by Purchaser and Seller. The “
Purchasers Contingencies. The transaction herein contemplated is expressly subject to the satisfaction, within ten (10) days following Closing, of the following described conditions. The failure of any condition to be satisfied within ten (10) days following Closing shall, at Purchaser's option, render this Agreement null and void, and all money or documents previously delivered shall be returned to their original owner, and all parties shall be relieved of all liabilities hereunder.