Common use of Due Diligence Deadline Clause in Contracts

Due Diligence Deadline. Buyer shall have until the Due Diligence Deadline to: review the Due Diligence Materials; conduct one or more physical inspections of the Property; and review all other matters relating to all aspects of the Property, as well as Buyer’s proposed purchase and use of the Property; provided, however, Buyer and its agents and representatives must at all times comply with the requirements of Section 8 below concerning entry upon the Property, and with the confidentiality requirements of Section 23 below. If Buyer determines for any reason that the Property is not satisfactory to Buyer, then Buyer, in Buyer’s sole discretion, may terminate this Agreement by giving written notice thereof to Seller (the “Termination Notice”) prior to the Due Diligence Deadline. If Buyer timely delivers to Seller the Termination Notice, this Agreement shall terminate, the Option Fee shall be retained by Seller (except in the event of a Seller Default), the E▇▇▇▇▇▇ Money (but not the Option Fee unless in the event of a Seller Default) shall be returned to Buyer, and neither Party shall have any further obligation to the other pursuant to this Agreement, except those obligations that expressly survive the termination of this Agreement (including Buyer’s indemnification obligations under Section 8 and Buyer’s confidentiality obligations under Section 23). If Buyer does not deliver to Seller the Termination Notice prior to the expiration of the Due Diligence Deadline, then Buyer shall be deemed to be completely satisfied with the Property in all respects and all such matters will be deemed approved by Buyer in all respects and the Title Company shall immediately remit the Option Fee to Seller.

Due Diligence Deadline. Buyer shall have until the Due Diligence Deadline to: review the Due Diligence Materials; conduct one or more physical inspections If, following Purchaser’s due diligence investigations as contemplated in this Section 3.1, Purchaser approves of the Property; and review all other matters relating to all aspects condition of the Property, as well as Buyer’s proposed purchase Property in its sole and use of the Property; provided, however, Buyer and its agents and representatives must at all times comply with the requirements of Section 8 below concerning entry upon the Property, and with the confidentiality requirements of Section 23 below. If Buyer determines for any reason that the Property is not satisfactory to Buyerabsolute discretion, then Buyer, in BuyerPurchaser shall notify Seller of Purchaser’s sole discretion, may terminate election to continue this Agreement in effect by giving causing a written notice thereof of such election (a “Purchaser’s Property Approval Notice”) to be given to Seller and to Escrow Holder at any time on or before 5:00 p.m. Central time on October 16, 2023 (the “Termination Notice”) prior to the Due Diligence Deadline. If Buyer timely delivers to Seller the Termination Notice, this Agreement shall terminate, the Option Fee shall be retained by Seller (except in the event of a Seller Default), the E▇▇▇▇▇▇ Money (but not the Option Fee unless in the event of a Seller Default) shall be returned to Buyer, and neither Party shall have any further obligation to the other pursuant to this Agreement, except those obligations that expressly survive the termination of this Agreement (including Buyer’s indemnification obligations under Section 8 and Buyer’s confidentiality obligations under Section 23”). If Buyer does not Purchaser fails to deliver said Purchaser’s Property Approval Notice to Seller the Termination Notice prior to and Escrow Holder by the expiration of the Due Diligence Deadline, then Buyer Purchaser shall be deemed to be completely satisfied with the Property have elected to terminate this Agreement, in all respects and all such matters will be deemed approved by Buyer in all respects and which event the Title Company shall immediately remit promptly return the Option Fee Deposit to SellerPurchaser (less the Independent Consideration) and neither party shall have any further liability hereunder except for the Surviving Obligations. If Purchaser’s Property Approval Notice is given prior to the Due Diligence Deadline, Purchaser shall have no further right to terminate this Agreement pursuant to this Section 3.5.1 and the one-half of the Deposit (equal to $100,000.00) (the “Non-Refundable Portion”) shall be non-refundable except as expressly provided in this Agreement. For the avoidance of doubt, the other one-half of the Deposit (equal to $100,000.00) shall be refundable to Purchaser in accordance with the terms of Section 3.5.2.