- Failure of Contingencies. In the event that any one or more of the contingencies set forth in this Article is not satisfied, waived or deferred by the parties in writing, within the period of time set forth above, then, upon written notice, either party may terminate this Agreement. In such event, neither party shall have any further responsibility or liability to the other. The Developer reserves the right, at its option, to waive or defer any one or more of the conditions precedent.
- Failure of Contingencies. In the event that any one or more of the contingencies set forth in this Article is not satisfied or waived by the Owner, or the Contractor in the case of a failure of the contingency in subparagraph (f) caused by Owner ("Owner's Default"), in writing at the time of Closing or within such other period of time set forth above applicable to such contingency, then, upon notice to the Contractor (or the Owner, in the case of Owner's Default) and a fifteen (15) day period during which Contractor (or the Owner, in the case of Owner's Default) may cause such contingency to be satisfied, the Owners (or the Contractor, in the case of Owner's Default) may terminate this Agreement. In such event, neither party shall have further responsibility or liability to the other except for Contractor' 5 indemnification of the Owner pursuant to Section 5.3, which shall survive the Closing or the termination of this Agreement.
- Failure of Contingencies. If any contingency is not satisfied, this Agreement shall be voidable by the Seller written notice given to the Buyer by personal delivery, or sent to the following address by certified or registered mail, return receipt requested: District Administrator, Two Rivers Public School District, 0000 Xxxxxxx Xxxxxx, Xxx Xxxxxx, XX 00000. If notice is given by personal delivery, it is effective on the date of delivery. If notice is given by mail, it shall be deemed effective two days after the date of mailing. In the alternative, the Seller shall, in the event of any such failure of such contingencies or breach of this Agreement, be entitled to equitable relief, including injunctive relief and specific performance, in addition to any other remedy available to Seller, at law or in equity, as well as costs and attorney’s fees incurred by the Seller in pursuing such remedies. The Buyer further agrees to waive any requirement for the deposit of security of any bond in connection with any equitable remedy.
- Failure of Contingencies. In the event that any one or more of the contingencies set forth in this Article is not satisfied, waived or deferred by Purchaser and Seller in writing, within the applicable period of time set forth above, then, upon Notice, either party may terminate this Agreement. In such event, neither party shall have further responsibility or liability to the other except that the Purchaser shall, at Seller's cost and expense, promptly apply for, and diligently use its reasonable best efforts to obtain from the Department, a change of ownership of the DON to the Seller or its nominee. Seller reserves the right, at its option, to waive or defer any one or more of the conditions precedent.
- Failure of Contingencies. (a) If either Seller or Purchaser timely notifies the other of the failure of one or more of its Contingencies, then the notifying party may with an additional five (5) days notice elect to terminate this Agreement, in which event, Purchaser shall be entitled to a return of the Xxxxxxx Money. If Purchaser fails to give notice of termination, then Purchaser shall be conclusively deemed to have elected to acquire the Property.
- Failure of Contingencies. In the event any of the contingencies and conditions have not been met, or will not be met in Purchaser's judgment, by the Closing Date or extensions thereof, Purchaser shall have the sole right and option to waive any contingency or condition, or to declare this Agreement terminated. Seller shall also have the right to terminate this Agreement if the above-described contingency related to the Development Agreement has not been met, or will not be met in Seller's judgment, by the Closing Date or extensions thereof. If this Agreement is timely and properly terminated by either Party, Purchaser shall have the Xxxxxxx Money (defined below) paid by Purchaser, along with any accrued interest, returned to Purchaser immediately. If Purchaser does exercise its option to declare this Agreement terminated and to receive a return of the Xxxxxxx Money paid by Purchaser, or if this Agreement otherwise becomes terminated, Purchaser shall have no further obligation or liability under this Agreement, except for those indemnities, defense, and hold-harmless obligations of Purchaser set forth in Section 3 above or as expressly set forth elsewhere in this Agreement as surviving termination of this Agreement. In addition, the Parties shall each be solely responsible for and shall hold the other harmless for any expenses, costs, damages, claims, lawsuits and judgments, including and not limited to expenses and attorneys' fees, incurred by each of them respectively as a result of this Agreement, except for those indemnities, defense, and hold-harmless obligations of Purchaser set forth in Section 3 above or as expressly set forth elsewhere in this Agreement as surviving termination of this Agreement. Alternatively, in the event any of the contingencies have not been satisfied as of the closing date Purchaser shall have the right to extend the contingency period and closing date for one (1) sixty (60) day period beyond the scheduled closing date, upon providing notice to Seller of its intent to extend no later than the date set for closing.
