Termination by The Forest Sample Clauses

Termination by The Forest. The Corporation may terminate this Agreement at any time if there has been a material misrepresentation or omission submitted by the Priority Deposit Holder in the Priority Deposit Holder’s Application for Admission or other information provided to the Corporation. In the event of such termination, the Priority Deposit is non-refundable and shall be retained by the Corporation. The Corporation may terminate this Agreement if (i) the Priority Deposit Holder does not meet the admission criteria set by the Board of Directors of the Corporation, (ii) the New ILUs are not completed for any reason or (iii) after all of the New ILUs have been occupied for the first time. Upon either such termination, the Corporation shall notify you, and the Corporation shall refund the Priority Deposit Holder the full amount of the Priority Deposit within thirty (30) days of such notification of termination.