Related Property. Buyer has entered into a Contract of Sale/Contribution (the ASSET SALE CONTRACT) with JEFFERSON COMMONS - TUCSON PHASE II LIMITED PARTNERSHIP and JEFFERSON COMMONS - COLUMBIA, L.P., and a Contract of Sale (the (CASH CONTRACT) with JEFFERSON COMMONS - LAWRENCE, L.P., and JEFFERSON COMMONS - WABASH, L.P. concerning Buyer's acquisition of real property therein described. If the Asset Sale Contract or the Cash Contract is terminated, either Seller or Buyer may terminate this Contract by written notice delivered to the other within 10 days after termination of the respective Contract. Additionally, if Buyer fails to deposit the Xxxxxxx Money hereunder or under the Asset Sale Contract or the Cash Contract as required herein or therein, Sellers may terminate this Contract and both the Asset Sale Contract and the Cash Contract by written notice delivered to Buyer within 3 days after Buyer's failure to timely deliver either Xxxxxxx Money. If this Contract is terminated under this Section, the Closing Agent shall deliver the Xxxxxxx Money as provided in this Contract as though the reason for such termination under the Partnership Sale Contract and the Cash Contract also occurred under this Contract and the parties shall thereafter have no further rights, liabilities, or obligations under this Contract, the Asset Sale Contract or the Cash Contract except for matters which expressly survive termination. Seller's rights under this Section survive termination of this Contract. The intent of the parties is that this Contract, the Asset Sale Contract and the Cash Contract be cross defaulted.
Appears in 2 contracts
Samples: Contract of Sale (Education Realty Trust, Inc.), Brochure Agreement (Education Realty Trust, Inc.)
Related Property. Buyer has entered into a Contract of Sale/Contribution Sale (the ASSET PARTNERSHIP SALE CONTRACT) with JEFFERSON COMMONS - TUCSON PHASE II LIMITED PARTNERSHIP JPI-CG MEZZ LLC, JPI-MC MEZZ LLC, JPI GENPAR REALTY, LLC, AND JPI INVESTMENT COMPANY, L.P. concerning Buyer's acquisition of certain partnership, limited liability company and JEFFERSON COMMONS - COLUMBIA, L.P., limited partnership interests in the respective entities and a Contract of Sale (the (CASH CONTRACT) with JEFFERSON COMMONS - LAWRENCE, L.P., and JEFFERSON COMMONS - WABASH, L.P. concerning Buyer's acquisition of real property therein described. If the Asset Partnership Sale Contract or the Cash Contract is terminated, either Seller or Buyer may terminate this Contract by written notice delivered to the other within 10 days after termination of the respective Contractcontract. Additionally, if Buyer fails to deposit the Xxxxxxx Earnest Money hereunder or under the Asset Partnership Sale Contract or the Cash txx Xxxx Contract as required herein or therein, Sellers may terminate this Contract Contract, and both the Asset Partnership Sale Contract and the Cash Contract by written notice delivered to Buyer within 3 days after Buyer's failure to timely deliver either Xxxxxxx such Earnest Money. If this Contract is terminated under this Section, the Closing txx Xxxxing Agent shall deliver the Xxxxxxx Earnest Money as provided in this Contract as though the reason for such termination xxxx xermination under the Partnership Sale Contract and the Cash Contract also occurred under this Contract Contract, and the parties shall thereafter have no further rights, liabilities, or obligations under this Contract, the Asset Partnership Sale Contract or the Cash Contract except for matters which expressly survive terminationtermination of either this Contract, the Partnership Sale Contract or the Cash Contract. Seller's rights under this Section survive termination of this Contract. The intent of the parties is that this Contract, the Asset Sale Partnership Sales Contract and the Cash Contract be cross defaulted.
Appears in 2 contracts
Samples: Revolving Loan Agreement (Education Realty Trust, Inc.), Education Realty Trust, Inc.
