Common use of Purchaser’s Right to Terminate Clause in Contracts

Purchaser’s Right to Terminate. Notwithstanding any provision contained herein, in addition to its right to terminate this Agreement as set forth in Section 2.01(d), if (a) Purchaser determines, in its sole discretion, that any Property is not satisfactory, and Purchaser provides written notice thereof to Seller on or before expiration of the Inspection Period, or (b) Purchaser and Lessee are unable to agree upon the terms and conditions of the Lease as provided in Section 1.03, or (c) Purchaser fails to obtain the approval of any material change to the terms of the Transaction from Purchaser’s Investment Committee prior to Closing, then Purchaser shall have the option to (i) terminate this Agreement, in which event neither party will have any further obligations or liability hereunder, except for those obligations expressly stated to survive such termination, or (ii) remove the applicable Property or Properties from the Properties to be conveyed hereunder, with an appropriate adjustment to the Purchase Price, if an adjustment can be agreed upon by Seller and Purchaser, and proceed to close with respect to the remaining Properties. If this Agreement is terminated for any reason by either party, Purchaser agrees, within 15 days after the date of termination to deliver to Seller copies of all title reports, title commitments, surveys, written geotechnical engineering reports and written environmental reports prepared by third parties for Purchaser during the period of time in which this Agreement is in effect provided that Seller pays all costs due in accordance with Section 1.05, and to return to the Seller all written materials concerning the Property previously delivered by Seller to Purchaser pursuant to this Agreement or otherwise. All third party reports and studies shall be delivered to Seller for information only without any right to rely thereon and without any representation or warranty of any type.

Purchaser’s Right to Terminate. Notwithstanding In the event that Purchaser’s inspection and investigation of the Property results in a determination by the Purchaser that the Property is unsatisfactory for Purchaser’s intended uses or is otherwise unsuitable or unacceptable in any provision contained hereinrespect, the Purchaser may terminate this Agreement by delivery to the Seller (with a copy to the Escrow Agent) of written notice of termination on or before close of business (5:00 p.m. local time) sixty (60) days after acceptance of this Purchase and Sale Agreement. Upon receipt of a timely notice of termination, the Escrow Agent shall promptly refund all Xxxxxxx Money paid (less the sum of TWO HUNDRED TWENTY-FIVE AND NO/100 DOLLARS ($225.00), which shall be paid to Seller in addition consideration for this Agreement), and, upon receipt of such refund, except as otherwise provided by this Agreement, neither Purchaser nor Seller shall have any further liability or obligations to the other. If the Purchaser does not deliver such written notice of termination on or before such date, Purchaser shall be deemed to have waived its right to terminate this Agreement as set forth in pursuant to this Section 2.01(d), if (a) Purchaser determines, in its sole discretion, that any Property is not satisfactory5, and Purchaser provides such right shall expire, become null and void and shall have no further force or effect. Except in the case of an express written notice thereof waiver, nothing herein shall be deemed, however, to Seller on result in a waiver of any other express right or before expiration option of the Inspection Period, or (b) Purchaser and Lessee are unable to agree upon the terms and conditions of the Lease as provided in Section 1.03, or (c) Purchaser fails to obtain the approval of any material change to the terms of the Transaction from Purchaser’s Investment Committee prior to Closing, then Purchaser shall have the option to (i) terminate this Agreement, in including the Purchaser’s right to terminate under Special Stipulation 24(a), which event neither party will have any further obligations or liability hereunder, except for those obligations expressly stated to survive such termination, or (ii) remove the applicable Property or Properties shall be conditions separate from the Properties to be conveyed Purchaser’s termination right hereunder, with an appropriate adjustment to the Purchase Price, if an adjustment can be agreed upon by Seller and Purchaser, and proceed to close with respect to the remaining Properties. If this Agreement is terminated for any reason by either party, Purchaser agrees, within 15 days after the date of termination to deliver to Seller copies of all title reports, title commitments, surveys, written geotechnical engineering reports and written environmental reports prepared by third parties for Purchaser during the period of time in which this Agreement is in effect provided that Seller pays all costs due in accordance with Section 1.05, and to return to the Seller all written materials concerning the Property previously delivered by Seller to Purchaser pursuant to this Agreement or otherwise. All third party reports and studies shall be delivered to Seller for information only without any right to rely thereon and without any representation or warranty of any type.

Purchaser’s Right to Terminate. Notwithstanding any provision contained herein, in addition to its right to terminate this Agreement as set forth in Section Sections 2.01(d)) and 2.05, if (a) Seller fails to timely deliver the Proof of Insurance, or (b) Purchaser determines, in its sole discretion, that any Property is not satisfactory, and Purchaser provides written notice thereof to Seller on or before expiration of the Inspection Period, or (bc) Purchaser and Lessee are unable to agree upon the terms and conditions of the Lease Agreements as provided in Section 1.03, or (cd) at any xxxx Xxxxxx provides any Disclosures (defined below) to Purchaser fails which are unsatisfactory in any respect to obtain the approval Purchaser in its sole discretion, and in any such event, Purchaser provides written notice of any material change unsatisfactory Disclosures to the terms Seller within three (3) Business Days of Purchaser’s receipt of such Disclosures, then, upon any of the Transaction from Purchaser’s Investment Committee prior to Closingforegoing events, then Purchaser shall have the option to (i) terminate this Agreement, Agreement in which event neither party will Seller nor Purchaser shall have any further duties or obligations or liability hereunderunder this Agreement except as otherwise provided herein (including without limitation, except for those obligations expressly stated to survive such terminationthe payment of Transaction Costs and the other expenses as set forth in Section 1.05), or (ii) remove the applicable Property or Properties from the Properties to be conveyed hereunder, with an appropriate adjustment to the Purchase Price, if an adjustment can be agreed upon by Seller and Purchaser, waive such matter and proceed to close with respect to all of the remaining Properties. If In the event that this Agreement is terminated for any reason by either party(other than as a result of Seller’s default hereunder), to the extent assignable, Purchaser agrees, within 15 days after the date will assign all of termination to deliver to Seller copies of all title reportsits right, title commitmentsand interest, surveysif any, written geotechnical engineering reports in any due diligence materials received by Purchaser and written environmental reports prepared by third parties paid for Purchaser during the period of time in which this Agreement is in effect provided that Seller pays all costs due in accordance with Section 1.05, and to return to the Seller all written materials concerning the Property previously delivered by Seller to Purchaser pursuant to this Agreement or otherwise. All third party reports and studies shall be delivered to Seller for information only as part of the Transaction Costs, all without any right to rely thereon and without any representation or warranty of any typewarranty, express or implied.

Purchaser’s Right to Terminate. Notwithstanding In the event that Purchaser’s inspection and investigation of the Property results in a determination by the Purchaser that the Property is unsatisfactory for Purchaser’s intended uses or is otherwise unsuitable or unacceptable in any provision contained hereinrespect, the Purchaser may terminate this Agreement by delivery to the Seller (with a copy to the Escrow Agent) a written notice of termination (hereinafter the “Notice of Termination”) on or before close of business (5:00 p.m. local time) thirty (30) days after the Effective Date of this Agreement, (hereafter referred to as the “Free Look Period”). Upon receipt of a timely Notice of Termination, the Escrow Agent shall promptly refund all Xxxxxxx Money paid (less the sum of TWO HUNDRED TWENTY-FIVE AND NO/100 DOLLARS ($225.00), which shall be paid to Seller in addition consideration for this Agreement), and, upon receipt of such refund, except as otherwise provided by this Agreement, neither Purchaser nor Seller shall have any further liability or obligations to the other. If the Purchaser does not deliver such written Notice of Termination on or before such date, Purchaser shall be deemed to have waived its right to terminate this Agreement as set forth in pursuant to this Section 2.01(d), if (a) Purchaser determines, in its sole discretion, that any Property is not satisfactory5, and Purchaser provides such right shall expire, become null and void and shall have no further force or effect. Except in the case of an express written notice thereof waiver, nothing herein shall be deemed, however, to Seller on result in a waiver of any other express right or before expiration option of the Inspection Period, or (b) Purchaser and Lessee are unable to agree upon the terms and conditions of the Lease as provided in Section 1.03, or (c) Purchaser fails to obtain the approval of any material change to the terms of the Transaction from Purchaser’s Investment Committee prior to Closing, then Purchaser shall have the option to (i) terminate this Agreement, in which event neither party will have any further obligations or liability hereunder, except for those obligations expressly stated including the Purchaser’s right to survive such terminationterminate under Section 4. (Title), or (ii) remove the applicable Property or Properties Environmental Condition, which shall be conditions separate from the Properties to be conveyed Purchaser’s termination right hereunder, with an appropriate adjustment to the Purchase Price, if an adjustment can be agreed upon by Seller and Purchaser, and proceed to close with respect to the remaining Properties. If this Agreement is terminated for any reason by either party, Purchaser agrees, within 15 days after the date of termination to deliver to Seller copies of all title reports, title commitments, surveys, written geotechnical engineering reports and written environmental reports prepared by third parties for Purchaser during the period of time in which this Agreement is in effect provided that Seller pays all costs due in accordance with Section 1.05, and to return to the Seller all written materials concerning the Property previously delivered by Seller to Purchaser pursuant to this Agreement or otherwise. All third party reports and studies shall be delivered to Seller for information only without any right to rely thereon and without any representation or warranty of any type.