Common use of Notice of Objections Clause in Contracts

Notice of Objections. 9.2.1 If Buyer fails to notify Seller in writing of any objections to the items set forth in Section 9.1.2 on or before the expiration of the Due Diligence Period, Buyer shall be conclusively deemed to have approved such items. 9.2.2 If Buyer notifies Seller in writing of any objections to the condition of the Property or any other matters relating to the Property and/or operation or financial condition of the Property as set forth in Section 9.1.2 on or before the expiration of the Due Diligence Period, the parties will have five (5) business days to agree upon a resolution of the objection(s). If the parties cannot agree within the five (5) business day period, then Buyer may terminate this Agreement by delivering written notice to Seller (which notice must be given within three (3) business days after the expiration of the five (5) business day period), in which event the Deposit and any interest accrued thereon will be returned to Buyer, and all rights and obligations of the parties existing hereunder shall terminate and be of no further force or effect, except any rights and obligations which are expressly stated to survive the termination of this Agreement.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Arden Realty Inc)

Notice of Objections. 9.2.1 If Buyer fails to notify Seller in writing of any objections to the items set forth in Section 9.1.2 on or before the expiration of the Due Diligence Period, Buyer shall be conclusively deemed to have approved such items. 9.2.2 If Buyer notifies Seller in writing of any objections to the condition of one or more of the Property Properties or any other matters relating to one or more of the Property Properties and/or operation or financial condition of one or more of the Property Properties as set forth in Section 9.1.2 on or before the expiration of the Due Diligence Period, the parties will have five (5) business days to agree upon a resolution of the objection(s). If the parties cannot agree within the five (5) business day period, then Buyer may terminate this Agreement by delivering written notice to Seller (which notice must be given within three (3) business days after the expiration of the five (5) business day period), in which event the Deposit and any interest accrued thereon will be returned to Buyer, and all rights and obligations of the parties existing hereunder shall terminate and be of no further force or effect, except any rights and obligations which are expressly stated to survive the termination of this Agreement. If this Agreement is terminated, the Deposit and any interest accrued thereon will be returned to Buyer.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Arden Realty Inc)

Notice of Objections. 9.2.1 If Buyer fails to notify Seller in writing of any objections to the items set forth in Section 9.1.2 on or before the expiration of the Due Diligence Period, Buyer shall be conclusively deemed to have approved such items. 9.2.2 If Buyer Buyer, in its sole discretion, notifies Seller in writing of any objections to the condition of the Property or any other matters relating to the Property and/or operation or financial condition of the Property as set forth in Section 9.1.2 on or before the expiration of the Due Diligence Period, the parties will have five (5) business days to agree upon a resolution of the objection(s). If the parties cannot agree within the five (5) business day period, then Buyer may terminate this Agreement by delivering written notice to Seller (which notice must be given within three (3) business days after the expiration of the five (5) business day period), in which event the Deposit and any interest accrued thereon will be returned to Buyer, and all rights and obligations of the parties existing hereunder shall terminate and be of no further force or effect, except any rights and obligations which are expressly stated to survive the termination of this Agreement.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Arden Realty Inc)