Delay in Closing. In the event that the purchaser fails to take title to the Premises within fifteen (15) days after the issuance of the Permanent Certificate of Occupancy, Purchaser shall pay to Seller the sum of $ per day for each and every day from the date that the Permanent Certificate of Occupancy was issued to and including the date of closing.
Delay in Closing. The loan will not be closed if, at the loan closing, the seller (in a sale transaction) or the bor- rower (in a nonpurchase money loan situation) indicates that construction, repair, or remodeling has been com- menced or completed on the property, or related materials or services have been delivered to or performed on the property within the time limit speci- fied in the affidavit, unless a State Supplement provides otherwise. The closing agent will notify the approval official, who will determine if the work of improvement could result in a lien prior to the agency lien. The State Of- fice will, with the advice and concur- rence of OGC, provide in a State Sup- plement the period of time to be used in completing the affidavit.
Delay in Closing. Authority to Close ------------------------------------ If Escrow Agent cannot close the Escrow on or before the Scheduled Closing Date, it will nevertheless close when all conditions have been satisfied or waived, notwithstanding that one or more of such conditions was not timely performed, unless after the Scheduled Closing Date and prior to the close of the delayed Escrow, Escrow Agent receives a written notice to terminate the Escrow and this Agreement, with respect to the applicable Properties on which the Closing has been delayed, from a party who, at the time such notice is delivered, is not in default. Neither (i) the exercise of the right of termination, (ii) delay in the exercise of the right of termination, nor (iii) the return of monies and documents, shall affect the right of the party giving notice of termination to pursue legal or equitable remedies for the other party's breach of this Agreement. Nor shall (i) the giving of such notice, (ii) the failure to object to termination of the Escrow, or (iii) the return of monies and documents affect the right of the other party to pursue legal or equitable remedies for the breach of the party who gives notice.
Delay in Closing. In the event the Closing does not take place by August 31, 2008, Lender has the right to terminate its obligations and forbearance hereunder and in the documents related hereto by written notice to the other parties hereto.
Delay in Closing. In the event that Lender’s Consent is obtained on or before the Consent Outside Date, but Closing does not occur hereunder within the timeframe contemplated by the terms of the Lender’s Consent (whether stated as an expiration date, or, effectively, as a condition or requirement thereto), Seller and Purchaser acknowledge that the Lender’s Consent may lapse and/or expire, in which case:
Delay in Closing. If the Closing has not occurred by December 31, 2008, then any Party whose actions or failure to act are not a cause of the delay of Closing shall have the right to terminate this Transaction Agreement upon thirty days’ advance written notice to all other Parties; provided, however, that any such notice of termination shall be rendered null and void and without force or effect if: (a) the Closing is completed within thirty days of the date on which such notice was issued; or, (b) the delay is due to action or inaction by a regulatory authority from which a Required Regulatory Approval or other consent or cooperation is required and the Party receiving the notice of termination has exercised and is continuing to exercise Best Efforts to enable it to close. If no Party acts to terminate the Transaction Agreement, the Closing shall be automatically extended for no more than five successive periods of thirty days. If the Closing is delayed for any reason other than
Delay in Closing. The Purchaser understands that the Company is a public reporting company subject to the reporting requirements of the Securities Exchange Act. Purchaser also understands that pursuant to such reporting requirements the Company must: (i) file a preliminary information statement on Schedule 14C (the “Information Statement”) with the Securities and Exchange Commission at least thirty days prior to the Closing Date, and (ii) distribute copies of the definitive Information Statement at least twenty days prior to the Closing Date. Purchaser understands and agrees that any delay in Closing caused by, indirectly or directly, the Company’s obligation to file or distribute an Information Statement shall not constitute a breach of this Agreement. The parties agree that the Closing Date shall be extended as required to enable the Company to comply with the above requirements of law.
Delay in Closing. In the event that this Agreement has not been terminated and the Closing shall not have occurred by the later of (i) December 1, 2009 and (ii) the fifth (5th) business day following the satisfaction or waiver of all of the conditions set forth in Section 2.1 (other than those that by their terms are to be satisfied or waived at the Closing and the condition set forth in Section 2.1(f)), and the failure to so close is not caused in whole or in part by Seller, Purchasers agree to reimburse Seller for Seller’s costs to carry on Seller’s X.xx engineering portion of the Business in substantially the same manner as presently conducted from such date until such time that the Closing shall occur or this Agreement is terminated. Seller and Purchasers agree that Purchasers shall pay to Seller a monthly amount equal to $306,243 based on twenty one (21) full-time Specified Employees at an established man rate per month of $14,583. Upon the earlier of the Closing or the termination of this Agreement, Seller shall provide an invoice to Purchasers setting forth the aggregate amount of the fees due to Seller through such date under this Section 9.3, with the monthly amount for the month in which the Closing occurs or this Agreement is terminated being pro rated based upon the number of days that have elapsed during such month from the commencement of Purchasers’ reimbursement obligation under this Section 9.3 until the Closing Date or the date of the termination of this Agreement, and Purchasers shall pay the invoice upon receipt. Article 10
Delay in Closing. If the Buyer is not able to effect the closing and conversion by the close of business on March 3, 2005, as required by Section 9.1 of this Agreement, caused solely by an action or failure to act of the Buyer or its agents, then the Buyer hereby agrees to pay to the Seller, on the Closing Date, as an additional payment (the "Contingent Purchase Price Consideration"), an aggregate amount in cash equal to $4,500,000. For purposes of this Section 7.5, the Buyer shall not be obligated to pay the Contingent Purchase Price Consideration if (i) the Closing and conversion does not occur by the close of business on March 3, 2005 by reason of events beyond the control of the Buyer, including any acts of God, or (ii) Seller is in material breach of this Agreement or the Working Agreement.
Delay in Closing. If the Closing is not effectuated during the period specified in Clause 5.1 hereof for any reason attributable to the Purchaser, then the Purchaser shall pay the Seller default interest calculated on the basis of the Remaining Price and determined by applying the LIBOR Rate plus six (6) points during the default period. If the Closing is not effectuated during the period specified in Clause 5.1 for any reason attributable to the Seller, then the Seller shall reimburse the Purchaser for any and all damages the Purchaser incurs as a result of said default. THIRD CLAUSE: Sellers' Representations and Warranties On this date, the Seller hereby represents and warrants the following:
