Termination Prior to Occupancy Clause Samples

The 'Termination Prior to Occupancy' clause allows either party to end the agreement before the tenant or buyer takes possession of the property. In practice, this clause typically outlines the conditions under which such early termination is permitted, such as failure to meet certain contingencies, delays in construction, or inability to secure financing. Its core function is to provide a clear exit mechanism for both parties before occupancy occurs, thereby reducing risk and uncertainty if circumstances change before the property is occupied.
Termination Prior to Occupancy. You may terminate this Agreement anytime prior to occupancy by writing to Glenmeadow. If the termination is because of illness or injury, which has made you no longer appropriate for Independent Living, or because of death, you or your estate will receive your full deposit plus the interest earned on it. If you terminate for any other reason, Glenmeadow will deduct a service charge of Five Thousand Dollars ($5,000), plus any other costs that Glenmeadow has incurred at your written request. This charge will be assessed against the Wait List/Reservation Deposit already received. In the event of the death or incapacity of one of two persons executing this Agreement, this Agreement will continue in effect as to the other person unless terminated by Resident in writing to Glenmeadow.
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Termination Prior to Occupancy. 1. Contract cancellations received, in writing, on or before July 1, 2019 and approved by Residential Living will receive a $100 refund of the $125 prepayment. The remaining $25 is forfeited as a processing fee. 2. Contract cancellations received in writing after July 1, 2019 (December 15, 2019 for contracts commencing with the spring semester) and approved by Residential Living forfeit the entire $125 prepayment. 3. The $125 prepayment is refundable under the following conditions: denial of admission, academic dismissal, serious illness or injury to resident, or death in immediate family. 5. A contract termination granted for withdrawal from the university is subject to forfeiture of the $125 prepayment. 6. Contracts entered into on or after July 1, 2019 (December 15, 2019 for contracts commencing with the spring semester) are subject to the same forfeiture policies as stated above. If you sign a contract after these dates and then terminate your contract, you will forfeit your deposit.
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Termination Prior to Occupancy. Upon termination of this Agreement for any reason prior to the Occupancy Date, Resident shall be entitled to a refund of all money paid, except for any special additional costs that do not exceed the costs of modification or the reasonable costs of restoration actually incurred by IKF in connection with the modifications of the Residence which were requested by Resident and described in Exhibit B of Part I of this Agreement.
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Termination Prior to Occupancy 
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Related to Termination Prior to Occupancy

  • Early Occupancy If Tenant occupies the Property prior to the Commencement Date, Tenant's occupancy of the Property shall be subject to all of the provisions of this Lease. Early occupancy of the Property shall not advance the expiration date of this Lease. Tenant shall pay Base Rent and all other charges specified in this Lease for the early occupancy period.

  • Occupancy Period a. The student may begin occupancy of their assigned room space on the dates listed in the University catalog. Failure to occupy the room by the first official day of classes each semester may result in a reassignment of the room; however, the residential student agreement will remain enforced. Students are expected to occupy their assigned room. Students who choose to vacate their assignment without being officially exempted from the agreement have abrogated their right to that space and are required to return any key(s) to the vacated assignment as directed. Failure to return key(s) as directed will result in billing for associated lock changes(s). Students remain liable for room and board charges during the life of the agreement. Students who have previously vacated and subsequently return during the agreement period will be reassigned to an available space.

  • Possession and Occupancy The Seller will deliver possession and occupancy of the Property to the Buyer at Closing. The Seller shall provide access to all locks, including keys, remote controls, and any security/access codes, necessary to operate all locks, mailboxes, and security systems.

  • Condition of the Leased Property Lessee acknowledges receipt and delivery of possession of the Leased Property. Lessee has examined and otherwise has knowledge of the condition of the Leased Property and has found the same to be satisfactory for its purposes hereunder. Lessee is leasing the Leased Property “as is” in its present condition. Lessee waives any claim or action against Lessor in respect of the condition of the Leased Property. LESSOR MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY, OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY LESSEE. LESSEE ACKNOWLEDGES THAT THE LEASED PROPERTY HAS BEEN INSPECTED BY LESSEE AND IS SATISFACTORY TO IT. Provided, however, to the extent permitted by law, Lessor hereby assigns to Lessee all of Lessor’s rights to proceed against any predecessor in title (other than any Affiliate of Lessee, which conveyed the Property to Lessor) for breaches of warranties or representations or for latent defects in the Leased Property. Lessor shall fully cooperate with Lessee in the prosecution of any such claim, in Lessor’s or Lessee’s name, all at Lessee’s sole cost and expense. Lessee hereby agrees to indemnify, defend and hold harmless Lessor from and against any claims, obligations and liabilities against or incurred by Lessor in connection with such cooperation.

  • Lessee as Prior Owner/Occupant The warranties made by Lessor in Paragraph 2 shall be of no force or effect if immediately prior to the Start Date Lessee was the owner or occupant of the Premises. In such event, Lessee shall be responsible for any necessary corrective work.