Common use of Buyer’s Termination Right Clause in Contracts

Buyer’s Termination Right. Buyer shall have the right at any time during the period commencing on the Effective Date and ending on June 24, 2014 (the “Inspection Period”) to terminate this Agreement in its sole and absolute discretion; provided, however, that the Inspection Period will be extended on a day-for-day basis, up to a maximum of five days, for each day that Seller’s Deliveries have not been delivered or made available to Buyer in accordance with Article III. If Buyer fails to deliver a written notice to Seller waiving its termination right hereunder on or before the expiration of the Inspection Period, then (a) Escrow Agent shall return the Deposit to Buyer and (b) this Agreement shall terminate automatically and be of no further force or effect and neither party shall have any further rights or obligations hereunder (other than pursuant to any provision hereof which expressly survives the termination of this Agreement). If Buyer delivers written notice waiving its termination right under this Section 4.2, then the Deposit shall be non-refundable, except for Seller default that is not timely cured pursuant to Section 13.1, failure of any Buyer condition to Closing, or any other provision of this Agreement providing for return of the Deposit to Buyer.

Buyer’s Termination Right. Buyer shall have the right at any time during the period commencing on the Effective Date and ending on June 24, 2014 the 30th day after the Effective Date (the “Inspection Period”) to terminate this Agreement in its sole and absolute discretion; provided, however, that the Inspection Period will be extended on a day-for-day basis, up to a maximum of five days, for each day that Seller’s Deliveries have not been delivered or made available to Buyer in accordance with Article IIIIII and Buyer shall have the right to extend the Inspection Period for an additional 30 days if Buyer determines in its sole discretion (based upon the advice of Buyer’s environmental consultant) that additional environmental investigation is warranted. If Buyer fails to deliver a written notice to Seller waiving its termination right hereunder on or before the expiration of the Inspection Period, then (a) Escrow Agent shall return the Deposit to Buyer Buyer, less the Independent Contract Consideration (which Escrow Agent shall deliver to Seller), (b) the parties shall share equally the cancellation charges, if any, of Escrow Agent and Title Company, and (bc) this Agreement shall terminate automatically and be of no further force or effect and neither party shall have any further rights or obligations hereunder (other than pursuant to any provision hereof which expressly survives the termination of this Agreement). If Buyer delivers written notice waiving its termination right under this Section 4.24.3, then the Deposit shall be non-refundable, except for Seller default that is not timely cured pursuant to Section 13.1default, failure of any Buyer condition to Closing, or any other provision of this Agreement providing for return of the Deposit to Buyer.

Buyer’s Termination Right. Buyer shall have the right at any time during the period commencing on the Effective Date and ending on June 24, 2014 the 30th day after the Effective Date (the “Inspection Period”) to terminate this Agreement Agreement, for any reason or no reason, in its sole and absolute discretion; provided, however, that Buyer only shall have the Inspection Period will be extended on a day-for-day basisright to terminate this Agreement (i) as to the Bridgepoint Property only, up (ii) as to a maximum all of five days, for each day that Seller’s Deliveries have not been delivered the Properties other than Bridgepoint or made available to Buyer in accordance with Article III(iii) all of the Properties. If Buyer fails to deliver a written notice to Seller Sellers waiving its termination right hereunder on or before the expiration of the Inspection Period, then (a) Escrow Agent shall return the Deposit to Buyer, less the Independent Contract Consideration (which Escrow Agent shall deliver to each Seller), (b) Buyer shall pay all of the cancellation charges, if any, of Escrow Agent and Title Company, and (bc) this Agreement shall terminate automatically and be of no further force or effect and neither party none of the parties hereto shall have any further rights or obligations hereunder (other than pursuant to any provision hereof which expressly survives the termination of this Agreement). If Buyer delivers written notice waiving its termination right under this Section 4.24.3, then the Deposit shall be non-refundable, except for Seller the default that is not timely cured pursuant to Section 13.1of any Seller, failure of any Buyer condition to ClosingClosing (other than the conditions set forth in this Article IV), or any other provision of this Agreement providing for return of the Deposit Deposit, or any portion thereof, to Buyer.

Buyer’s Termination Right. Buyer shall have the right at any time during the period commencing on the Effective Date and ending on June 24, 2014 the 30th day after the Effective Date (the “Inspection Period”) to terminate this Agreement in its sole and absolute discretion; provided, however, that the Inspection Period will be extended on a day-for-day basis, up to a maximum of five days, for each day that Seller’s Deliveries have not been delivered or made available to Buyer in accordance with Article III. If Buyer fails to deliver delivers a written notice to Seller waiving exercising its termination right hereunder on or before the expiration of the Inspection Period, then (a) Escrow Agent shall return the Deposit to Buyer, (b) Seller shall be responsible for the charges of Escrow Agent (except as otherwise set forth in the Escrow Agreement), (c) Buyer shall be responsible for the charges of the Title Company, and (bd) this Agreement shall terminate automatically and be of no further force or effect and neither party shall have any further rights or obligations hereunder (other than pursuant to any provision hereof which expressly survives the termination of this Agreement). If Buyer delivers fails to deliver written notice waiving exercising its termination right under this Section 4.24.3, then the Deposit shall be non-refundable, except for Seller default that is not timely cured pursuant to Section 13.1, failure of any Buyer condition to Closing, or any other provision of as otherwise set forth in this Agreement providing for return of the Deposit to BuyerAgreement.

Buyer’s Termination Right. Buyer shall have the right at any time during the period commencing on the Effective Date and ending on June 24, 2014 the 30th day after the Effective Date (the “Inspection Period”) to terminate this Agreement in its sole and absolute discretion; provided, however, that the Inspection Period will be extended on a day-for-day basis, up to a maximum of five days, for each day that Seller’s Deliveries have not been delivered or made available to Buyer in accordance with Article III. If Buyer fails to deliver a written notice to Seller waiving its termination right hereunder on or before the expiration of the Inspection Period, then (a) Escrow Agent shall return the Deposit to Buyer Buyer, less the Independent Contract Consideration (which Escrow Agent shall deliver to Seller), (b) the parties shall share equally the cancellation charges, if any, of Escrow Agent and Title Company, and (bc) this Agreement shall terminate automatically and be of no further force or effect and neither party shall have any further rights or obligations hereunder (other than pursuant to any provision hereof which expressly survives the termination of this Agreement). If Buyer delivers written notice waiving its termination right under this Section 4.24.3, then the Deposit shall be non-refundable, except for Seller default that is not timely cured pursuant to Section 13.1default, failure of any Buyer condition to Closing, or any other provision of this Agreement providing for return of the Deposit to Buyer.

Buyer’s Termination Right. Buyer shall have the right at any time during the period commencing on the Effective Date and ending on June 24, 2014 the 30th day after the Effective Date (the “Inspection Period”) to terminate this Agreement in its sole and absolute discretion; provided, however, that the Inspection Period will be extended on a day-for-day basis, up to a maximum of five days, for each day that Seller’s Deliveries have not been delivered or made available to Buyer in accordance with Article IIIIII (or confirmed by Seller to be unavailable). If Buyer fails to deliver a written notice to Seller waiving its termination right hereunder on or before the expiration of the Inspection Period, then (a) Escrow Agent shall return the Deposit to Buyer Buyer, less the Independent Contract Consideration (which Escrow Agent shall deliver to Seller), (b) the parties shall share equally the cancellation charges, if any, of Escrow Agent and Title Company, and (bc) this Agreement shall terminate automatically and be of no further force or effect and neither party shall have any further rights or obligations hereunder (other than pursuant to any provision hereof which expressly survives the termination of this Agreement). If Buyer delivers written notice waiving its termination right under this Section 4.24.3, then the Deposit shall be non-refundable, except for Seller default that is not timely cured pursuant to Section 13.1default, failure of any Buyer condition to Closing, or any other provision of this Agreement providing for return of the Deposit to Buyer.

Buyer’s Termination Right. Buyer shall have the right at any time during the period commencing on the Effective Date and ending on June 24, 2014 the 30th day after the Effective Date (the “Inspection Period”) to terminate this Agreement in its sole and absolute discretion; provided, however, that the Inspection Period will be extended on a day-for-day basis, up discretion by written notice to a maximum of five days, for each day that Seller’s Deliveries have not been delivered or made available to Buyer in accordance with Article III. If Buyer fails to deliver a delivers written notice to Seller waiving its termination right hereunder terminating this Agreement on or before the expiration of the Inspection Period, then (a) Escrow Agent shall return the Deposit to Buyer Buyer, (b) the parties shall share equally the cancellation charges, if any, of Escrow Agent, and (bc) this Agreement shall terminate automatically and be of no further force or effect and neither party shall have any further rights or obligations hereunder (other than pursuant to any provision hereof which expressly survives the termination of this Agreement). If Buyer delivers fails to deliver written notice waiving its termination right to terminate this Agreement under this Section 4.24.3 or delivers to Seller written notice affirmatively waiving Buyer’s right to terminate this Agreement under this Section 4.3 (any such waiver notice, the “Inspection Period Termination Waiver Notice”) then the Deposit shall be non-refundable, except for Seller default that which is not timely cured pursuant to in accordance with the terms of Section 13.1, failure of any Buyer condition to Closing, or any other provision of this Agreement providing for return of the Deposit to Buyer.