Application for New Financing Sample Clauses

Application for New Financing. If payment of the purchase price is contingent on Buyer obtaining new financing, then Buyer shall submit a complete, written application for financing for the Business within five (5) days after satisfaction of the Feasibility Contingency in Section 9 of this Agreement. Buyer shall pay all required costs and fees and shall make a good faith effort to procure financing at all times during this financing contingency period. Buyer shall not reject those terms of a commitment which provide for a loan amount of at least % of the purchase price, interest not to exceed % per annum, a payment schedule calling for monthly payments amortized over not less than years, and total placement fees and points not more than % of the loan amount. This Agreement shall terminate and Buyer shall receive a refund of the xxxxxxx money unless Xxxxx gives Seller written notice that this condition is satisfied or waived on or before days (60 days, if not completed) following mutual acceptance of this Agreement.
Sample 1
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Related to Application for New Financing

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