Failure to Close Escrow Sample Clauses

The 'Failure to Close Escrow' clause defines the consequences and procedures if a real estate transaction does not successfully complete by the agreed-upon closing date. Typically, this clause outlines the rights and obligations of both buyer and seller in the event of a delay or failure, such as the forfeiture of deposits, extension options, or liability for damages. Its core function is to allocate risk and provide a clear framework for resolving issues when escrow does not close as planned, thereby protecting both parties and minimizing disputes.
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Failure to Close Escrow. Notwithstanding the foregoing, if escrow does not close as herein provided, or any extension thereof in writing, this escrow shall terminate, Escrow Holder shall return all documents, things, and refundable monies deposited in escrow, to the respective parties, less Escrow Holder’s fees and costs. Escrow Holder shall remit directly to AGENCY the non-refundable ▇▇▇▇▇▇▇ Money Deposit, unless escrow does not close as a result of AGENCY’s material default hereunder, in which case, the ▇▇▇▇▇▇▇ Money Deposit shall be returned to BUYER. The parties shall release each other from any claims arising under the terms of this Agreement, except those terms expressly stated to survive such termination.
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Failure to Close Escrow. The Close of Escrow shall not have occurred on or before 5:00 p.m. (New York City time) on the Closing Date.
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Failure to Close Escrow. If the “Closing Date” fails to occur on or before April 20, 2004, or, prior to such Closing Date, there has been a material adverse change with respect to Developer, the Property or the Project, upon the written demand therefor by Investor, such event shall work an immediate dissolution of the Company. As used herein, the “Closing Date” shall mean the date the Grant Deed is recorded in the Official Records of the County of Sacramento, State of California (the “Official Records”). If Investor delivers such written demand (A) the Developer shall immediately execute and file with the Delaware Secretary of State such forms as are necessary to effect the dissolution of the Company, (B) notwithstanding Section 3.5 all funds and documents deposited by the Members pursuant to this Agreement shall be immediately returned to the Members which deposited the same, and (C) the Members shall execute and deliver to any title, escrow or other closing agent instructions sufficient for the foregoing purposes. Nothing in this Section 1.8 shall require or permit the return to Developer of funds which Developer is not otherwise entitled to receive pursuant to this Agreement.
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Failure to Close Escrow. If this escrow is not in condition to close before the time for conveyance, established in Section III, B, 9 of this Agreement, either party who then shall have fully performed the acts to be performed before the conveyance of title may, in writing, provide notice to the nonperforming party of such condition and a right to cure, including a right to cure any liens, encumbrances, conditions or other defects on the title not otherwise permitted, as described in Section III, B, 6, in a manner set forth in Section VIII, A. Should the nonperforming party fail to cure the condition preventing Close of Escrow within the time period provided in Section VIII, A. all obligations and liabilities of the Parties under this Agreement shall cease and terminate. Nothing in this Section III, B, & shall be construed to impair or affect the rights or obligations of the City or the Developer to specific performance.
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Failure to Close Escrow. If the Closing shall not have occurred by January 3, 2001, and if the failure to close is due solely as a result of action taken or inaction by S3, where, but for such action or inaction, the Closing would have occurred, then S3 shall pay VIA $20,000,000. Such amount shall be paid on the termination of this Agreement. If the Closing shall not have occurred by the Scheduled Closing Date, and if the failure to close is not solely due to action or inaction taken by S3, VIA shall immediately pay S3 either $60,000,000 in cash or 6,000,000 shares of S3 common stock or any linear combination thereof. As security for such payment, concurrent with the execution of this Agreement, VIA shall execute the Escrow Agreement and shall deliver to S3 or its agent for deposit into escrow $60,000,000 in cash or 6,000,000 shares of S3 common stock or any linear combination thereof (the "Escrow Assets"). The payment provided by Section 5.7 and the payments provided in this Section 7.3 shall constitute the sole and exclusive remedy of any Party for damages resulting from the failure to timely file a HSR application under Section 5.7 and the failure to close under this Section 7.3.
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Failure to Close Escrow. Notwithstanding the foregoing, if escrow does not close as herein provided, or any extension thereof in writing, this escrow shall terminate, Escrow Holder shall return all documents, things, and refundable monies deposited in escrow, to the respective parties, less Escrow Holder’s fees and costs, and the parties shall release each other from any claims arising under the terms of this Agreement, except those terms expressly stated to survive such termination.
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Failure to Close Escrow 
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Related to Failure to Close Escrow

  • Failure to Close (A) If Seller(s) fails to convey the property as provided in this contract: Buyer(s) may exercise legal remedies including suit for specific performances or damages. Agent may ▇▇▇ ▇▇▇▇▇▇(s) to recover loss of commission. Agent may pay ▇▇▇▇▇▇▇ Money into a court of competent jurisdiction, or retain ▇▇▇▇▇▇▇ Money until directed to distribute the same by a court of competent jurisdiction. (B) If Buyer(s) fail to purchase the property as provided in this contract: Seller(s) may exercise legal remedies including suit for specific performance or damages. Seller(s) may elect to retain ▇▇▇▇▇▇▇ Money deposit as liquidated damages for breach of contract, in this case, it is agreed that Agent may retain from such ▇▇▇▇▇▇▇ Money deposit an amount not greater than his total commission of the sale had been consummated and the residue, if any, will be paid to Seller(s). (C) ▇▇▇▇▇(s) and Seller(s) further agree that in the event of default by either that results in litigation, that the non-defaulting party may recover reasonable attorney fees and any other court costs, in addition to other damages provided for herein.

  • Failure to Fulfill Conditions In the event that either of the parties hereto determines that a condition to its respective obligations to consummate the transactions contemplated hereby cannot be fulfilled on or prior to the termination of this Agreement, it will promptly notify the other party.

  • Failure to Satisfy Conditions Precedent If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

  • CONDITIONS PRECEDENT TO BUYER'S OBLIGATION TO CLOSE Buyer's obligation to purchase the Shares and to take the other actions required to be taken by Buyer at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Buyer, in whole or in part):

  • CONDITIONS PRECEDENT TO SELLER'S OBLIGATION TO CLOSE Sellers' obligation to sell the Shares and to take the other actions required to be taken by Sellers at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Sellers, in whole or in part):