Common use of Approval by Purchaser Clause in Contracts

Approval by Purchaser. Purchaser shall have the period commencing with the date of this Agreement and continuing through December ___, 1998 (the "Due Diligence Period") in which to review and approve the reports, surveys, documents and other items set forth in Section 7.3 hereof (collectively, "Due Diligence Items"). 8.1.1 In the event that or before December ___, 1998 Purchaser notifies Seller that any one or more of the Due Diligence Items is not acceptable, or in the event that on or before December ___, 1998 Purchaser disapproves of the condition of the Property or any other matters relating to the Property which have been inspected by or revealed to Purchaser subsequent to the date of this Agreement, then Seller shall have a period of five (5) business days after each such notice in which Seller shall notify Purchaser in writing whether or not Seller intends to attempt to cure, satisfy or otherwise remedy to Purchaser's satisfaction ("Cure") such conditions or matters set forth in Purchaser's notice (such conditions or matters, collectively, "Purchaser's Objections"). If Seller elects to Cure Purchaser's Objections, then Seller shall have a period of thirty (30) days after Seller's receipt of the notice setting forth such Purchaser's Objections in which to Cure the same. If Seller has timely notified Purchaser that Seller does not intend to attempt to Cure the Purchaser's Objections, or if Seller elects to Cure the Purchaser's Objections and thereafter fails to Cure the same within the time period provided for herein, then, in either such event, Purchaser may, by written notice to Seller, elect to cancel this Agreement, in which event all parties shall be released and discharged of any further liability hereunder, except any liability under Section 11.4

Approval by Purchaser. Purchaser shall have a period of seven (7) business days after the period commencing with later of (a) the date of this Agreement and continuing through December ___Agreement, 1998 or (b) the "Due Diligence Period") in which to review and approve date that Purchaser receives the last of the reports, surveys, documents and other items set forth in Section 7.3 hereof (collectively, "Due Diligence Items") in which to review and approve, in Purchaser's sole and absolute discretion, the Due Diligence Items (the aforesaid period being the "Due Diligence Period"). 8.1.1 In the event that or before December ___, 1998 Purchaser notifies Seller that any one or more of the Due Diligence Items is not acceptable, or in the event that on or before December ___, 1998 Purchaser disapproves of the condition of the Property or any other matters relating to the Property which have been inspected by or revealed to Purchaser subsequent to the date of this Agreement, then Seller shall have a period of five (5) business days after each such notice in which Seller shall notify Purchaser in writing whether or not Seller intends to attempt to cure, satisfy or otherwise remedy to Purchaser's satisfaction ("Cure") such conditions or matters set forth in Purchaser's notice (such conditions or matters, collectively, "Purchaser's Objections"). If Seller elects to Cure Purchaser's Objections, then Seller shall have a period of thirty (30) days after Seller's receipt of the notice setting forth such Purchaser's Objections in which to Cure the same. If Seller has timely notified Purchaser that Seller does not intend to attempt to Cure the Purchaser's Objections, or if Seller elects to Cure the Purchaser's Objections and thereafter fails to Cure the same within the time period provided for herein, then, in either such event, Purchaser may, by written notice to Seller, elect to cancel this Agreement, in which event all parties shall be released and discharged of any further liability hereunder, except as set forth in Section 3.1.2 hereof. 8.1.2 If any matter shown in the Title Commitment and/or the Survey is not acceptable to Purchaser, then Purchaser (or Purchaser's attorneys) shall notify Seller of those matters that are not acceptable. Seller shall have a period of five (5) business days after receipt of Purchaser's notice in which Seller shall notify Purchaser in writing whether or not Seller intends to attempt to Cure such conditions or matters set forth in Purchaser's notice (such conditions or matters, collectively, "Title/Survey Objections"). If Seller elects to Cure the Title/Survey Objections, then Seller shall have a period of thirty (30) days after receipt of Purchaser's notice in which to Cure the Title/Survey Objections. If Seller has timely notified Purchaser that Seller does not intend to attempt to Cure the Title/Survey Objections, or if Seller elects to Cure the Title/Survey Objections and thereafter fails to Cure the same within the time period provided for herein, then in either such event, Purchaser may, by written notice to Seller, elect to cancel this Agreement, in which event all parties shall be released and discharged of any further liability hereunder, except any liability under Section 11.411.4 hereof. Notwithstanding the foregoing, Purchaser shall not be required to object to any Lien or similar matter which Seller is otherwise required to remove or cure pursuant to this Agreement and which can be removed or cured by the payment of money out of funds otherwise payable to Seller at Closing.