Common use of Failure to Obtain Financing Clause in Contracts

Failure to Obtain Financing. If ▇▇▇▇▇ is unable to obtain a commitment for the Loan(s) within the Loan Approval Period, either Buyer or Seller may cancel this Contract upon written notice to the other party. If ▇▇▇▇▇ is unable to obtain the Loan(s), ▇▇▇▇▇ must provide written evidence of rejection from ▇▇▇▇▇▇(s) within 5 days of ▇▇▇▇▇’s receipt of such written evidence. In either case, ▇▇▇▇▇’s ▇▇▇▇▇▇▇ Money shall be subject to the provisions of the ▇▇▇▇▇▇▇ Money and Additional Deposits paragraph of this Contract.