TERMINATE CONTRACT Sample Clauses

TERMINATE CONTRACT. Elects to terminate this Contract, in which event Buyer shall be entitled to the immediate return of the entire Deposit, together with all Accrued Interest thereon, and, except as expressly provided otherwise in this Contract, this Contract shall be deemed terminated, null and void and of no further force and effect and the parties shall have no further rights, obligations or liabilities hereunder. Unless Buyer gives notice to Seller within such twenty (20) day period that Buyer has elected either to extend the Closing Date pursuant to the foregoing Section (b) or to terminate the Contract pursuant to the foregoing Section (c), Buyer shall be conclusively presumed to have elected to proceed to Closing pursuant to Section (d) and the Response Action Requirements set forth in the Hazardous Materials Notice shall be deemed waived by Buyer. If Buyer elects to extend the Closing Date pursuant to the foregoing Section (e) and the Seller determines that it will be unable to complete the Recommended Response Actions by the extended Closing Date. Seller shall so notify Buyer, and Buyer shall, as its sole and exclusive remedy, on or before the twentieth (20) day after Buyer's receipt of Seller's notice, give notice to Seller that Buyer elects to proceed pursuant to either Section (d) or Section (f) above (and Buyer's failure so to give such notice shall be deemed an election by Buyer to proceed pursuant to the foregoing Section (d)).