Common use of Termination Notices Clause in Contracts

Termination Notices. If at any time the Title Company receives a certificate of either Seller or Purchaser (for purposes of this Section 4.5, the "Certifying Party") stating that: (a) the Certifying Party is entitled to receive the ▇▇▇▇▇▇▇ Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.5, the "Other Party") prior to or contemporaneously with the giving of such certificate to the Title Company, then, unless the Title Company has then previously received, or receives within three (3) Business Days after receipt of the Certifying Party's certificate, contrary instructions from the Other Party, the Title Company, within one (1) Business Day after the expiration of the foregoing three (3) Business Day period, will deliver the ▇▇▇▇▇▇▇ Money Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder. If the Title Company receives contrary instructions from the Other Party within three (3) Business Days following the Title Company's receipt of said certificate, the Title Company will not so deliver the ▇▇▇▇▇▇▇ Money Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.6.

Appears in 2 contracts

Sources: Agreement of Sale and Purchase (Maguire Properties Inc), Agreement of Sale and Purchase (Maguire Properties Inc)

Termination Notices. If Other than as provided in Section 5.4, if at any time the Title Company receives a certificate of either Seller or Purchaser (for purposes of this Section 4.5, the "Certifying PartyCERTIFYING PARTY") stating that: (a) the Certifying Party is entitled to receive the ▇▇▇▇▇▇▇ Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.5, the "Other PartyOTHER PARTY") prior to or contemporaneously with the giving of such certificate to the Title Company, then, unless the Title Company has then previously received, or receives within three (3) Business Days after receipt of the Certifying Party's certificate, contrary instructions from the Other Party, the Title Company, within one (1) Business Day after the expiration of the foregoing three (3) Business Day period, will deliver the Independent Consideration to Seller and the ▇▇▇▇▇▇▇ Money Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder. If the Title Company receives contrary instructions from the Other Party within three (3) Business Days following the Title Company's receipt of said certificate, the Title Company will not so deliver the ▇▇▇▇▇▇▇ Money Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.6.

Appears in 1 contract

Sources: Agreement of Sale and Purchase (Behringer Harvard Reit I Inc)

Termination Notices. If at any time the Title Company receives a certificate of either Seller or Purchaser (for purposes of this Section 4.5, the "Certifying Party") stating that: (a) the Certifying Party is entitled to receive the ▇▇▇▇▇▇▇ Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.5, the "Other Party") prior to or contemporaneously with the giving of such certificate to the Title Company, then, unless the Title Company has then previously received, or receives within three (3) Business Days after receipt of the Certifying Party's ’s certificate, contrary instructions from the Other Party, the Title Company, within one (1) Business Day after the expiration of the foregoing three (3) Business Day period, will deliver the ▇▇▇▇▇▇▇ Money Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder. If the Title Company receives contrary instructions from the Other Party within three (3) Business Days following the Title Company's ’s receipt of said certificate, the Title Company will not so deliver the ▇▇▇▇▇▇▇ Money Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.6.

Appears in 1 contract

Sources: Agreement of Sale and Purchase (Wells Real Estate Investment Trust Ii Inc)

Termination Notices. If at any time the Title Company receives a certificate of either Seller or Purchaser (for purposes of this Section 4.54.4, the "Certifying Party") stating that: (a) the Certifying Party is entitled to receive the ▇▇▇▇▇▇▇ Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.54.4, the "Other Party") prior to or contemporaneously with the giving of such certificate to the Title Company, then, unless the Title Company has then previously received, or receives within three five (35) Business Days after receipt of the Certifying Party's ’s certificate, contrary instructions from the Other Party, the Title Company, within one two (12) Business Day Days after the expiration of the foregoing three five (35) Business Day period, will deliver the ▇▇▇▇▇▇▇ Money Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder. If the Title Company receives contrary instructions from the Other Party within three five (35) Business Days following the Title Company's ’s receipt of said certificate, the Title Company will not so deliver the ▇▇▇▇▇▇▇ Money Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.64.5.

Appears in 1 contract

Sources: Agreement of Sale and Purchase (Allegiant Travel CO)

Termination Notices. If at any time time, the Title Company receives a certificate of either Seller or of Purchaser (for purposes of this Section 4.54.6, the "Certifying Party") stating that: (a) the Certifying Party is entitled to receive the ▇▇▇▇▇▇▇ Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.54.6, the "Other Party") prior to or contemporaneously with the giving of such certificate to the Title Company, then, unless the Title Company has then previously received, or receives within three five (35) Business Days after receipt of the Certifying Party's ’s certificate, contrary instructions from the Other Party, the Title Company, within one (1) Business Day after the expiration of the foregoing three five (35) Business Day period, will deliver the ▇▇▇▇▇▇▇ Money Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder. If the Title Company receives contrary instructions from the Other Party within three five (35) Business Days following the Title Company's ’s receipt of said certificate, the Title DAL02:624104.4 LEGAL_US_W # 74790953.14 12 Company will not so deliver the ▇▇▇▇▇▇▇ Money Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.64.7.

Appears in 1 contract

Sources: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

Termination Notices. If at any time the Title Company receives a certificate of either Seller or Purchaser (for purposes of this Section 4.5, the "Certifying Party") stating that: (a) the Certifying Party is entitled to receive the ▇▇▇▇▇▇▇ Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.5, the "Other Party") prior to or contemporaneously with the giving of such certificate to the Title Company, then, unless the Title Company has then previously received, or receives within three (3) Business Days after receipt of the Certifying Party's ’s certificate, contrary instructions from the Other Party, the Title Company, within one (1) Business Day after the expiration of the foregoing three (3) Business Day period, will deliver the ▇▇▇▇▇▇▇ Money Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder. If the Title Company receives contrary instructions from the Other Party within three (3) Business Days following the Title Company's ’s receipt of said certificate, the Title Company will not so deliver the ▇▇▇▇▇▇▇ Money Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.64.7. Notwithstanding the foregoing, if this Agreement is terminated pursuant to Section 5.4, the foregoing provisions of this Section 4.6 shall not be applicable and Title Company shall deliver the ▇▇▇▇▇▇▇ Money Deposit to Purchaser, without the necessity for compliance with such foregoing provisions.

Appears in 1 contract

Sources: Agreement of Sale and Purchase (Cole Office & Industrial REIT (CCIT II), Inc.)