Common use of Conditions Precedent to Purchaser’s Performance Clause in Contracts

Conditions Precedent to Purchaser’s Performance. Purchaser’s obligation to purchase the Property is subject to the satisfaction or written waiver of all the conditions described below (which are for Purchaser’s benefit), within the time periods specified, or if no time is specified, by the Closing Date: 5.5.1 All representations and warranties by Seller in this Agreement shall be true and correct in all material respects as of the Closing Date. 5.5.2 Seller shall have duly performed all covenants and agreements to be performed by Seller under this Agreement, including, without limitation, the timely delivery of all documents and instruments as required by Section 9.2 hereof. 5.5.3 The Title Insurer shall be irrevocably committed to issue the Title Policy. Upon the failure of any of the aforesaid conditions precedent without waiver of such conditions by Purchaser, Purchaser may terminate this Agreement, in which event Escrow Agent shall return the Deposit to Purchaser without further instruction from Seller, and the parties shall have no further obligations to the other. However, if Seller causes a condition under Section 5.5.1 or 5.5.2 to not be satisfied or performed by Seller as required by this Agreement, failure to perform or satisfy such condition shall constitute a default by Seller, and Purchaser shall have the rights provided in herein as applicable.

Conditions Precedent to Purchaser’s Performance. Purchaser’s obligation to purchase the Property is subject to the satisfaction or written waiver of all the conditions described below (which are for Purchaser’s benefit), within the time periods specified, or if no time is specified, by the Closing Date: 5.5.1 All representations and warranties by Seller in this Agreement shall be true and correct in all material respects as of the Closing Date.; 5.5.2 Seller shall have duly performed all material covenants and agreements to be performed by Seller under this Agreement, including, without limitation, the timely delivery of all documents and instruments as required by Section 9.2 hereof.; and 5.5.3 The Title Insurer shall be irrevocably committed to issue the Title Policy; and 5.5.4 Purchaser shall have received the Lender’s Approval on or before the Closing Deadline. Upon the failure of any of the aforesaid conditions precedent without waiver of such conditions by Purchaser, Purchaser may terminate this Agreement, in which event Escrow Agent shall return the ▇▇▇▇▇▇▇ Money Deposit to Purchaser without further instruction from Seller, and the parties shall have no further obligations to the other. However, if Seller causes a condition under Section 5.5.1 or 5.5.2 to not be satisfied or performed by Seller as required by this Agreement, failure to perform or satisfy such condition shall constitute a default by Seller, and Purchaser shall have the rights provided in Section 10.2 herein as applicable.