Contract Termination for Failure to Enter into Edison Contract. Notwithstanding anything to the contrary contained in the Contract, as amended hereby, if the Edison Contract is not approved by Purchaser and fully-executed on or before June 30, 2016, then the Contract shall be deemed automatically terminated, in which event, provided that Purchaser is not in default under the Contract, the Deposit, and all interest thereon, shall be promptly returned to Purchaser (and Seller shall deliver written notice to Escrow Agent authorizing Escrow Agent to return the Deposit no later than two (2) Business Days following such automatic termination).
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement