Common use of Failure of Seller’s Closing Conditions Clause in Contracts

Failure of Seller’s Closing Conditions. If any of Seller’s Closing Conditions described in Section 4.5 above have not been fulfilled within the applicable time periods, Seller may: (a) Waive the unfulfilled Seller’s Closing Condition and Close in accordance with this Agreement, without adjustment or abatement of the Purchase Price; or (b) Terminate this Agreement by written notice to Purchaser, in which event Purchaser shall pay for all of the cancellation charges of Title Company and Escrow Agent, if any, and to the extent that the failure of any applicable Seller Closing Condition is caused by a breach of any term or condition of this Agreement by Purchaser, or Purchaser’s failure to timely perform any condition or obligation set forth herein, Seller shall be entitled to pursue its rights and remedies pursuant to the terms of Article 8.