Common use of Failure to Terminate Clause in Contracts

Failure to Terminate. In the event the Purchaser does not notify the Seller in writing, on or before the end of the Feasibility Period, of the Purchaser’s election to terminate this Agreement, the Purchaser’s right to terminate under Section 3.3 shall expire. The Seller shall retain its election to terminate until Closing by delivering notice and the Termination Payment to the Seller, provided that unless it shall terminate as a result of the Purchaser’s non- performance hereunder, the Deposit shall be returned to the Purchaser.