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Delivery of Documents
Delivery of Documents contract clause examples

Delivery of Documents. In the event that Buyer provides Seller with written notice on or before the expiration of the Due Diligence Period that Buyer has elected to terminate this Agreement, this Agreement shall terminate, the Initial Earnest Money shall be returned to Buyer, Buyer shall return to Seller all documents provided by Seller with respect to the Property, or confirm to Seller that such documents have been destroyed, and no party hereto shall have any further liability to the others hereunder, other than Buyer’s repair and indemnity obligations set forth in [Section 7.2(a)] and Buyer’s document return obligations set forth in this [Section 7.2(b)]. Buyer hereby acknowledges that, in the event Buyer does not terminate this Agreement in accordance with the provisions of this [Section 7.2(b)], Buyer shall be deemed to have had full opportunity to investigate the Property, shall be deemed to have been satisfied with the condition thereof in all particulars, and shall have no further right to terminate this Agreement except as otherwise provided in this Agreement. Notwithstanding anything set forth in this Agreement to the contrary, Buyer’s obligation to return documents shall survive any termination of this Agreement.

At any time prior to the expiration of the Due Diligence Period, Buyer shall have the right to terminate this Agreement by written notice to Seller, whereupon the Initial Deposit shall be returned to Buyer and the parties hereto shall be relieved of all liabilities and obligations under this Agreement except to the extent expressly provided in this Agreement to the contrary. Within five (5) business days of any termination of this Agreement, Buyer shall return to Seller all reports and other information that Seller provided Buyer for purposes of conducting its due diligence. Failure of Buyer to deliver notice of termination to Seller prior to expiration of the Due Diligence Period shall constitute Buyer's acceptance of the Property and a waiver of Buyer's right to terminate pursuant to this Section 4.

. If Buyer determines, in its sole discretion, before the expiration of the Due Diligence Period that the Property is unacceptable for Buyer’s purposes, for any reason or no reason, Buyer shall have the right to terminate this Agreement, whereupon the Earnest Money shall be promptly refunded to Buyer by Escrow Agent and the obligations of the parties hereunder shall terminate (other than those obligations that expressly survive a termination of this Agreement). If Buyer elects to proceed with the transaction and purchase the Property pursuant to the terms of this Agreement, it shall deliver a written notice to Seller on or before expiration of the Due Diligence Period that it waives its right to terminate this Agreement pursuant to this Section 8.2 (a “Notice to Proceed”). If Buyer fails to deliver a Notice to Proceed on or before the expiration of the Due Diligence Period, it shall be deemed to have elected to terminate this Agreement in accordance with this Section 8.2.

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