Common use of Election Not to Terminate Clause in Contracts

Election Not to Terminate. In the event Buyer desires not to terminate this Agreement and the Escrow, on or before 5:00 p.m. PST on the date of expiration of the Investigation Period, Buyer shall deliver written notice to Seller of Buyer’s election not to terminate this Agreement (“Buyer’s Election Not to Terminate”). In the event Buyer fails to timely deliver to Seller Buyer’s Election Not to Terminate in accordance with the provisions of this Section 4.3, such failure shall be deemed to constitute Buyer’s Election to Terminate this Agreement in accordance with the terms and conditions of Section 4.2 hereof. In the event of Buyer’s delivery to Seller of Buyer’s Election Not to Terminate pursuant to this Section 4.3, Buyer shall be obligated to deliver the Second Deposit to Escrow Holder on or before 5:00 p.m. PST one (1) Business Day after the expiration of the Investigation Period, in accordance with Section 2.2(b) hereof. In the event Buyer fails to timely deliver the Second Deposit to Escrow Holder, such failure shall be deemed to constitute Buyer’s Election to Terminate this Agreement and the Escrow pursuant to Section 4.2 hereof.

Election Not to Terminate. In the event Buyer desires not to terminate this Agreement and the Escrow, on or before 5:00 p.m. PST on the date of expiration of the Investigation Period, Buyer shall deliver written notice to Seller of Buyer’s election not to terminate this Agreement (“Buyer’s Election Not to Terminate”). In the event Buyer fails to timely deliver to Seller Buyer’s Election Not to Terminate in accordance with the provisions of this Section 4.3, such failure shall be deemed to constitute Buyer’s Election to Terminate this Agreement in accordance with the terms and conditions of Section 4.2 hereof. In the event of Buyer’s delivery to Seller of Buyer’s Election Not to Terminate pursuant to this Section 4.3, Buyer shall be obligated to deliver the Second Deposit to Escrow Holder on or before 5:00 p.m. PST one (1) Business Day after the expiration of the Investigation Period, in accordance with Section 2.2(b2.3(b) hereof. In the event Buyer fails to timely deliver the Second Deposit to Escrow Holder, such failure shall be deemed to constitute Buyer’s Election to Terminate this Agreement and the Escrow pursuant to Section 4.2 hereof.