Common use of Failure to Close Clause in Contracts

Failure to Close. If the Closing does not occur on or before the date set forth in Section 5.1 above (as such date may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Date, either party hereto (so long as such party is not then in default pursuant to this Agreement), without waiving any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and to the Title Company.

Failure to Close. If the Closing does not occur on or before the scheduled closing date as set forth in Section 5.1 above (as such date may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Date2.1 hereof, either party hereto (so long as such party is not then in default pursuant to this Agreement), without waiving any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and party. Thereafter, neither party shall have any further obligations to the Title Companyother hereunder, other than any obligations and liabilities arising prior to such termination and those obligations that by their terms survive the termination of this Agreement.

Failure to Close. If the Closing does not occur on or ---------------- before the scheduled closing date as set forth in Section 5.1 above (as such date may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Datehereunder, either party hereto (so long as such party is not then in default pursuant to this Agreement), without waiving any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and party. Thereafter, neither party shall have any further obligations to the Title Companyother hereunder, other than any obligations and liabilities arising prior to such termination and those obligations that by their terms survive the termination of this Agreement.

Failure to Close. If the Closing does not occur on or before the date set forth in Section 5.1 above (as such date This Agreement may be extended pursuant terminated at the option of either party upon notice to the express provisions of other if the Closing, has not occurred by October 31, 1997; PROVIDED, HOWEVER, that neither party may terminate this Agreement), then in the absence of a written agreement between the parties to extend the Closing Date, either party hereto (so long as Agreement if such party is not then in default hereunder. In the event of termination pursuant to this Agreement)Section, without waiving the parties shall be released and discharged from any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and to the Title Companyfurther obligation hereunder.

Failure to Close. If the Closing does not occur on or before the date set forth in Section 5.1 above (as such date Either party may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Date, either party hereto (so long as such party is not then in default pursuant to this Agreement), without waiving any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and if the Closing shall not have occurred on or before February 28, 1997 for any reason other than a wilful breach of a covenant, representation or warranty by either party. In the event of a termination under this Section, all obligations of the parties to the Title Companyone another hereunder shall cease without liability.

Failure to Close. If any of the Closing does Closings do not occur on or ---------------- before the date their scheduled closing dates as set forth in Section 5.1 above (as such date may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Datehereunder, either party hereto (so long as such party is not then in default pursuant to this Agreement), without waiving any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and party. Thereafter, neither party shall have any further obligations to the Title Companyother hereunder, other than any obligations and liabilities arising prior to such termination and those obligations that by their terms survive the termination of this Agreement.

Failure to Close. If the Closing does not occur on or before the date set forth in Section 5.1 above (as such date This Agreement may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Date, either terminated by any party hereto (so long as such party is not then in default pursuant to this Agreement), without waiving hereunder if for any rights it may otherwise have pursuant reason the Closing has not occurred on or prior to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and to the Title CompanyOutside Closing Date.

Failure to Close. If any of the Closing does Closings do not occur on or before the date their scheduled closing dates as set forth in Section 5.1 above (as such date may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Datehereunder, either party hereto (so long as such party is not then in default pursuant to this Agreement), without waiving any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and party. Thereafter, neither party shall have any further obligations to the Title Companyother hereunder, other than any obligations and liabilities arising prior to such termination and those obligations that by their terms survive the termination of this Agreement.