1. Sunset Clause
1.1 The Buyer acknowledges that, despite the existence of this Contract, the Seller will continue to market and offer the Property for sale.
1.2 In the event that the Seller signs another contract for the sale of the Property with a third party on terms more favourable to the Seller than this Contract (to be determined at the sole discretion of the Seller) then the Seller may by notice in writing to the Buyer (the Notice), request that the Buyer satisfy or waive all outstanding conditions of the Contract by 5:00pm on the day that is two (2) business days from the date of receiving the Notice.
1.3 If the Buyer does not satisfy or waive all outstanding conditions by 5:00pm on the day that is two (2) business days from the date of receiving the Notice, then the Seller shall be entitled to terminate this Contract by notice in writing to the Buyer whereupon the Contract shall be at end, the deposit will be refunded in full to the Buyer and neither party shall have any further claim against the other.
1.4 On receipt of the Notice, the Buyer may also elect to immediately terminate the Contract by notice in writing to the Seller whereupon the Contract shall be at end, the deposit will be refunded in full to the Buyer and neither party shall have any further claim against the other.
1.5 The parties agree that this Special Condition 1 shall only remain in effect and exercisable by the Seller until such time as the Buyer satisfies Special Condition [INSERT REFERENCE TO PRIOR SALE OR OTHER CONDITION] of the Contract. Thereafter, the Seller will be deemed to have waived the benefit of the Sunset Clause.