Common use of Failure to Deposit Clause in Contracts

Failure to Deposit. If Buyer fails to perform as set forth in Paragraph 2 above, Seller may either: (a) extend the date for the payment Deposit for an additional period of time specified by Seller at that date; or (b) reach alternative financing agreement in writing with Buyer or (c) treat Buyer's failure to perform as a default hereunder, in which event Seller may terminate the Agreement, cancel Escrow and proceed in accordance with Paragraph 7 of the Agreement. The Agreement, as modified by this Addendum, is hereby ratified and shall continue in effect.

Failure to Deposit. If Buyer fails to perform as set forth in Paragraph 2 1.3 above, Seller may either: (a) extend the date for the payment Deposit for an additional period of time specified by Seller at that date; or (b) reach alternative financing agreement in writing with Buyer or (c) treat Buyer's failure to perform as a default hereunder, in which event Seller may terminate the Agreement, cancel Escrow and proceed in accordance with Paragraph 7 of the Agreement. The Agreement, as modified by this Addendum, is hereby ratified and shall continue in effect7.