Common use of Timely Action Clause in Contracts

Timely Action. Notwithstanding anything herein to the contrary, as a condition precedent to Purchaser exercising any right it may have to bring an action for specific performance hereunder, Purchaser must commence such an action within 30 days after Purchaser’s knowledge of the occurrence of the actual or alleged breach or failure to perform under this Agreement by a Seller Party. Purchaser agrees that its failure to timely commence such an action for specific performance within such 30 day period shall be deemed a waiver by it of its right to commence an action for injunctive relief or specific performance as well as a waiver by it of any right it may have to file or record a notice of lis pendens or notice of pendency of action or similar notice against any portion of the Purchased Assets.

Timely Action. Notwithstanding anything herein to the contrary, as a condition precedent to Purchaser exercising any right it may have to bring an action for specific performance hereunder, Purchaser must commence such an action within 30 days after Purchaser’s knowledge of the occurrence of the actual or alleged breach or failure to perform under this Agreement by a Seller Partythe Seller. Purchaser agrees that its failure to timely commence such an action for specific performance within such 30 day period shall be deemed a waiver by it of its right to commence an action for injunctive relief or specific performance as well as a waiver by it of any right it may have to file or record a notice of lis pendens or notice of pendency of action or similar notice against any portion of the Purchased AssetsEntities.