Common use of Disposition of Deposit Upon Failure to Close Clause in Contracts

Disposition of Deposit Upon Failure to Close. If the Closing does not occur due to Company’s default under this Agreement (but only if all of the conditions to Company’s obligation to close have been satisfied or waived and Seller is not in default under this Agreement), then the disposition of the Deposit and all interest accrued thereon shall be governed by Section 13.1 hereof. If the Closing does not occur (i) due to Seller’s default under this Agreement (but only if all of the conditions to Seller’s obligation to close have been satisfied or waived and Company is not in default under this Agreement), or (ii) because this Agreement terminated pursuant to Section 4.2.2 or Section 4.3.2, then the Deposit and all interest accrued thereon shall promptly be refunded to Company. If the Closing does not occur due to the failure of any of the conditions set forth in Sections 7.1 or 7.2 hereof other than as a result of Company’s or Seller’s default under this Agreement, then the disposition of the Deposit and all interest accrued thereon shall be governed by Section 9.3 hereof.