Common use of Purchaser's Options Upon Failure to Cure Clause in Contracts

Purchaser's Options Upon Failure to Cure. If any Defect that Seller ---------------------------------------- has elected to remove, cure or insure over (or is deemed to have elected to remove, cure or insure over) has not been removed or cured or insured over, in each case to Purchaser's reasonable satisfaction, at least five (5) days prior to Closing (as may be extended pursuant to Section 3.2 hereof), or provision for its removal, cure or insuring over by Closing has not been made to Purchaser's reasonable satisfaction, Purchaser may elect, in its sole discretion: (a) subject to satisfaction of the other conditions to Closing, to close the purchase of the Property, and take title subject to any Defects that have not been cured, removed or insured over at or before Closing (provided that such election shall not release Seller from its obligation to cure, remove or insure over Defects after the Closing or to provide for such cure, insurance over or removal by deposit of sufficient funds in an escrow account with the Title Company, which obligation shall survive the Closing); (b) subject to satisfaction of the other conditions to Closing, to close the purchase of the Property, cure or remove any Required Cure Items that have not been cured, insured over or removed by Seller, and deduct from the Purchase Price all actual costs incurred by Purchaser in connection with its cure or removal of any Required Cure Items; or (c) to terminate this Agreement, in which event the Xxxxxxx Money and all interest accrued thereon shall be immediately returned to Purchaser.

Purchaser's Options Upon Failure to Cure. If any Defect that ---------------------------------------- Seller ---------------------------------------- has elected to remove, cure or insure over (or is deemed to have elected to remove, cure or insure over) has not been removed or cured or insured over, in each case to Purchaser's reasonable satisfaction, at least five (5) days prior to Closing (as may be extended pursuant to Section 3.2 hereof), or provision for its removal, cure or insuring over by Closing has not been made to Purchaser's reasonable satisfaction, Purchaser may elect, in its sole discretion: (a) subject to satisfaction of the other conditions to Closing, to close the purchase of the Property, and take title subject to any Defects that have not been cured, removed or insured over at or before Closing (provided that such election shall not release Seller from its obligation to cure, remove or insure over Defects after the Closing or to provide for such cure, insurance over or removal by deposit of sufficient funds in an escrow account with the Title Company, which obligation shall survive the Closing); (b) subject to satisfaction of the other conditions to Closing, to close the purchase of the Property, cure or remove any Required Cure Items that have not been cured, insured over or removed by Seller, and deduct from the Purchase Price all actual costs incurred by Purchaser in connection with its cure or removal of any Required Cure Items; or (c) to terminate this Agreement, in which event the Xxxxxxx Money and all interest accrued thereon shall be immediately returned to Purchaser.

Purchaser's Options Upon Failure to Cure. If any Defect that Seller ---------------------------------------- has Sellers have elected or are required to remove, remove or cure or insure over (or is are deemed to have elected to remove, cure remove or insure overcure) has not been removed or cured or insured over, in each case to Purchaser's ’s reasonable satisfaction, satisfaction at least five (5) business days prior to Closing (as may be extended pursuant to Section 3.2 hereof), or provision for its removal, removal or cure or insuring over by Closing has not been made to Purchaser's ’s reasonable satisfaction, Purchaser may elect, in its sole discretion: (a) subject to satisfaction of the other conditions to Closing, to close the purchase of the Property, and take title subject to any Defects that have not been cured, cured or removed or insured over at or before Closing (provided that such election shall not release Seller Sellers from its their obligation to cure, cure or remove or insure over Defects after the Closing or to provide for such cure, insurance over or removal by deposit of sufficient funds in an escrow account with the Title CompanyClosing, which obligation shall survive the ClosingClosing and such Defect shall not constitute a Permitted Exception); (b) subject to satisfaction of the other conditions to Closing, to close the purchase of the Property, cure or remove any Required Cure Items the Defects that have not been cured, insured over cured or removed by Seller, and deduct from the Purchase Price all actual costs incurred (or to be incurred) by Purchaser in connection with its cure or removal of any Required Cure ItemsDefect that Sellers were obligated to cure or remove; provided, however, with respect to any Defects other than Monetary Defects, Seller’s right to deduct any such costs shall be subject to the Non-Monetary Defect Cap; or (c) to terminate this Agreement, in which event the Xxxxxxx Exxxxxx Money and all interest accrued thereon shall be immediately returned to Purchaser.