Common use of Termination of Agreement During Due Diligence Period Clause in Contracts

Termination of Agreement During Due Diligence Period. If Buyer, in its sole and absolute discretion, is not satisfied with the results of its Due Diligence during the Due Diligence Period, or for any reason whatsoever, Buyer may terminate this Agreement by written notice to Seller at any time prior to the expiration of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement, the First Deposit shall be paid to Seller and the Second Deposit shall be paid to Buyer. In the event Buyer fails to terminate this Agreement prior to the expiration of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement under and in accordance with this Article 5. Buyer and Seller each acknowledge and agree that although Buyer may continue to conduct Due Diligence after the Due Diligence Period, Buyer does not have the right to terminate this Agreement after the Due Diligence Period pursuant to this Article 5 and the First Deposit and Second Deposit are non-refundable to Buyer as and to the extent set forth in Section 3.1.1.

Termination of Agreement During Due Diligence Period. If Buyer, in its sole and absolute discretion, is not satisfied with the results of its Due Diligence during the Due Diligence Period, or for any reason whatsoever, Buyer may terminate this Agreement by written notice to Seller given at any time prior to the expiration of the Due Diligence Period, andin which event, in the event Title Company shall (i) pay Twenty-five Thousand Dollars ($25,000.00) of such termination, neither the Deposit to Seller nor and (ii) refund the balance of the Deposit to Buyer and thereafter Seller and Buyer shall not have any liability hereunder except for those obligations which expressly by the express terms of this Agreement survive the termination of this Agreement, the First Deposit shall be paid to Seller and the Second Deposit shall be paid to Buyer. In the event Buyer fails to terminate this Agreement prior to the expiration of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement under and in accordance with this Article 5. Buyer and Seller each acknowledge and agree that although Buyer may continue to conduct Due Diligence shall have no additional period after the Due Diligence Period, Buyer does not have the right to terminate this Agreement after expiration of the Due Diligence Period pursuant to this Article 5 and the First Deposit and Second Deposit are non-refundable to Buyer as and to the extent set forth in Section 3.1.1conduct further Due Diligence.

Termination of Agreement During Due Diligence Period. If Buyer, in its sole and absolute discretion, is not satisfied with the results of its Due Diligence during the Due Diligence Period, or for any reason whatsoever, Buyer may terminate this Agreement by written notice to Seller at any time prior to 5:00 p.m. Eastern Time on the expiration last day of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement, the First Deposit Agreement and Buyer shall be paid entitled to Seller and the Second Deposit shall be paid to Buyerreturn of the Deposit. In the event Buyer fails to terminate this Agreement prior to 5:00 p.m. Eastern Time on the expiration last day of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement under and in accordance with this Article 5. Buyer and Seller each acknowledge and agree that although Buyer may continue to conduct Due Diligence If after the expiration of the Due Diligence PeriodPeriod Buyer conducts further Due Diligence, Buyer does not acknowledges and agrees that Buyer shall have the no further right to terminate this Agreement with respect to such further Due Diligence or otherwise in accordance with this Article 5 after the expiration of the Due Diligence Period pursuant to this Article 5 and the First Deposit and Second Deposit are non-refundable to Buyer as and to the extent set forth in Section 3.1.1Period).

Termination of Agreement During Due Diligence Period. If Buyer, in its sole and absolute discretion, is not satisfied with the results of its Due Diligence during the Due Diligence Period, Period or is otherwise not satisfied with the Property for any reason whatsoeveror no reason, or determines not to pursue the Transaction for any reason or no reason, Buyer may terminate this Agreement by written notice to Seller at any time prior to the expiration of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement, the First Deposit Agreement and Buyer shall be paid entitled to Seller and the Second Deposit shall be paid to Buyerreturn of the Deposit. In the event Buyer fails to terminate this Agreement prior to the expiration of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement under and in accordance with this Article 5. Except as otherwise expressly provided in Section 5.1.1(e) above, Buyer and Seller each acknowledge and agree that although Buyer may continue to conduct Due Diligence shall have no additional period after the Due Diligence Period, Buyer does not have the right to terminate this Agreement after expiration of the Due Diligence Period pursuant to this Article 5 and the First Deposit and Second Deposit are non-refundable to Buyer as and to the extent set forth in Section 3.1.1conduct further Due Diligence.

Termination of Agreement During Due Diligence Period. If Buyer, in its sole and absolute discretion, is not satisfied with the results of its Due Diligence during the Due Diligence Period, or for any reason whatsoever, Buyer may terminate this Agreement by written notice to Seller given at any time prior to the expiration of the Due Diligence Period, andin which event, in the event of such termination, neither Title Company shall refund the Deposit (less the Initial Payment) to Buyer and thereafter Seller nor and Buyer shall not have any liability hereunder except for those obligations which expressly by the express terms of this Agreement survive the termination of this Agreement, the First Deposit shall be paid to Seller and the Second Deposit shall be paid to Buyer. In the event Buyer fails to terminate this Agreement prior to the expiration of the Due Diligence Period, Buyer shall be deemed to have waived its rights to terminate this Agreement under and in accordance with this Article 5. Buyer and Seller each acknowledge and agree that although Buyer may continue to conduct Due Diligence shall have no additional period after the Due Diligence Period, Buyer does not have the right to terminate this Agreement after expiration of the Due Diligence Period pursuant to this Article 5 and conduct further Due Diligence on-site at the First Deposit and Second Deposit are non-refundable to Buyer Property except as and to the extent set forth provided in Section 3.1.1.5.1. LEGAL02/34919558v5