Default by the Operating Partnership. If the Closing is not consummated as a result of a default by the Operating Partnership hereunder, then the Contributor shall have the right by written notice to the Operating Partnership to terminate this Agreement and, except as expressly set forth elsewhere in this Agreement, neither the Contributor nor the Operating Partnership shall thereafter have any obligation under any provision of this Agreement.
Appears in 3 contracts
Sources: Contribution Agreement (Preston Hollow Community Capital, Inc.), Sale and Contribution Agreement (Aspen REIT, Inc.), Sale and Contribution Agreement (Aspen REIT, Inc.)