Common use of Waiver of Failure of Conditions Precedent Clause in Contracts

Waiver of Failure of Conditions Precedent. At any time or times on or ----------------------------------------- before the date specified for the satisfaction of any condition, Prudential or REIT OP may elect in writing to waive the benefit of any such condition set forth in Section 7.1 or Section 7.2, respectively. By closing the Transaction, ----------- ----------- (i) Prudential shall be conclusively deemed to have waived the benefit of any remaining unfulfilled conditions set forth in Section 7.1, and (ii) REIT OP ----------- shall be conclusively deemed to have waived the benefit of any remaining unfulfilled conditions set forth in Section 7.2. Subject to Prudential's right ----------- to extend the Closing as provided under this Agreement, in the event any of the conditions set forth in Sections 7.1 or 7.2, respectively, are neither waived ------------ --- nor fulfilled by the Closing Date, REIT OP or Prudential (as appropriate) may terminate their obligations to perform at the Closing and otherwise under this Agreement in accordance with the provisions of Article 10. ----------

Waiver of Failure of Conditions Precedent. At any time or times on or ----------------------------------------- before the date specified for the satisfaction of any condition, Prudential or REIT OP may elect in writing to waive the benefit of any such condition set forth in Section 7.1 or Section 7.2, respectively. By closing the Transaction, ----------- ----------- ----------- (i) Prudential shall be conclusively deemed to have waived the benefit of any remaining unfulfilled conditions set forth in Section 7.1, and (ii) REIT OP ----------- shall be conclusively deemed to have waived the benefit of any remaining unfulfilled conditions set forth in Section 7.2. Subject to Prudential's right ----------- to extend the Closing as provided under this Agreement, in the event any of the conditions set forth in Sections 7.1 or 7.2, respectively, are neither waived ------------ --- nor fulfilled by the Closing Date, REIT OP or Prudential (as appropriate) may terminate their obligations to perform at the Closing and otherwise under this Agreement in accordance with the provisions of Article 10. ----------