Common use of Adjournment of Closing Clause in Contracts

Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property set forth in the Diligence Notice have been cured or remedied. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h)), Franchisor Comfort Letters (as -------------- required by Section 4.1(j) or any necessary consents and approvals (as required -------------- by Section 4.5)), then unless such requirement is waived by Purchaser in its ----------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters or any necessary consents and approvals for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained provided such adjournment shall not be longer than ninety (90) days.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (American General Hospitality Corp), Purchase and Sale Agreement (American General Hospitality Corp)

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Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property set forth in the Diligence Notice have been cured or remedied. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h)), Franchisor Comfort Letters (as -------------- --------------- required by Section 4.1(j) or any necessary consents and approvals (as required -------------- by Section 4.5)), then unless such requirement is waived by Purchaser in its ----------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters or any necessary consents and approvals for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained provided such adjournment shall not be longer than ninety (90) days.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American General Hospitality Corp)

Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property set forth in the Diligence Notice have been cured or remedied. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h)), Franchisor Comfort Letters (as -------------- required by Section 4.1(j) or any necessary consents and --------------- approvals (as required -------------- by Section 4.5)), then unless such requirement is waived ------------- by Purchaser in its ----------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters Certificates or any necessary consents and approvals or any Franchisor Comfort Letters (as defined in the Other Agreements) for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained obtained, provided such adjournment shall not be longer than ninety (90) days.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American General Hospitality Corp)

Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property set forth in the Diligence Notice have been cured or remedied. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h)), Franchisor Comfort Letters (as -------------- --------------- required by Section 4.1(j) or any necessary consents and approvals (as required -------------- by Section 4.5)), then unless such requirement is waived by Purchaser in its ----------- ------------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters or any necessary consents and approvals for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained provided such adjournment shall not be longer than ninety (90) days.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American General Hospitality Corp)

Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property Propety set forth in the Diligence Notice have been cured or remediedremedied and all deliveries required by Section 3.5 of ----------- this Agreement have been obtained. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h4.1(i)), Franchisor Comfort Letters (as -------------- required by Section 4.1(j4.1(k) or any necessary consents and approvals (as required -------------- by Section 4.5)), then unless such requirement is waived by Purchaser in its ----------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Closing, Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters or any necessary consents and approvals for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under pursuant to the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained obtained, provided such adjournment shall not be longer than ninety (90) days.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American General Hospitality Corp)

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Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property set forth in the Diligence Notice have been cured or remedied. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h4.1(i)), Franchisor Comfort Letters (as -------------- required by Section 4.1(j4.1(k) or any necessary consents and approvals (as required -------------- by Section 4.5)), then unless such requirement is waived by Purchaser in its ----------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters or any necessary consents and approvals for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained obtained, provided such adjournment shall not be longer than ninety (90) days.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American General Hospitality Corp)

Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property set forth in the Diligence Notice have been cured or remedied. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h)), Franchisor Comfort Letters (as -------------- required by Section 4.1(j) or any necessary consents and approvals (as required -------------- by Section 4.5)), then unless such requirement is waived by Purchaser in its ----------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters or any necessary consents and approvals for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained provided such adjournment shall not be longer than ninety (90) days.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Prime Hospitality Corp)

Adjournment of Closing. (a) At the request of either Purchaser or Seller, the Closing shall be adjourned for up to ninety (90) days until all objections with respect to the Property set forth in the Diligence Notice have been cured or remedied. (b) At Closing, if Seller is unable to deliver any Estoppel Certificates (as required by Section 4.1(h4.1(i)), Franchisor Comfort Letters (as -------------- --------------- required by Section 4.1(j4.1(k) or any necessary consents and approvals (as required -------------- by Section 4.5)), then unless such requirement is waived by Purchaser in its ----------- sole and absolute discretion, Seller shall have the right to adjourn the Closing for up to ninety (90) days. If at Closing Seller is unable to deliver any required Estoppel Certificates, Franchisor Comfort Letters or any necessary consents and approvals for three or more Properties under any of the Other Agreements and/or this Agreement, then unless the parties shall otherwise mutually agree (or unless such requirement is waived by Purchaser in its sole and absolute discretion), the Closing shall be adjourned with respect to the Property and all of the other Properties to be conveyed under the Other Agreements until such Estoppel Certificates, Franchisor Comfort Letters or consents are obtained obtained, provided such adjournment shall not be longer than ninety (90) days.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American General Hospitality Corp)

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