Final answer:
Failure to deliver the masters on time may lead to the termination of the term of the agreement, as per the reference information which allows for termination upon written notice if possession cannot be delivered as agreed.
Step-by-step explanation:
In the context of an agreement, the failure to deliver the masters on-time can result in termination of the term of the agreement. According to the given reference information, if the OWNER is unable to deliver possession of the residence on the agreed date for any reason, including failure of the prior residents to vacate, both the RESIDENT and OWNER have the option to cancel and terminate the agreement upon written notice. If neither party cancels the agreement, then the agreement's terms will be prorated and will commence from the date of actual possession.