Approvals Contingency. 1. This Contract is contingent upon Purchaser obtaining and/or completing any and all necessary and/or required permits and approvals from any and all state or local regulatory bodies, including without limitation, all necessary and/or required foundation, demolition, excavation and/or building permits required by the City of Stamford and all zoning approvals, beyond any applicable appeals period, from the City of Stamford, the City of Stamford Urban Redevelopment Commission, the Stamford Board of Representatives and/or other governmental regulatory body having regulatory authority over the Property including without limitation an OSTA approval (collectively, the “Approvals”) for Purchaser’s redevelopment plans for the Property. Xxxxxxxxx agrees to use reasonably diligent efforts to obtain the Approvals by 6:00 P.M. Eastern Time on or before the date which is six (6) months from the expiration of the Due Diligence Period (the “Approvals Period”). Notwithstanding the foregoing, the Approvals Period shall be extended for a period of up to one hundred eighty (180) days, at Purchaser’s option, upon delivery of notice to Seller. Any extension beyond this additional one hundred eighty (180) days shall require the consent of Seller, not to be unreasonably withheld, conditioned or delayed, provided that Purchaser is using reasonably diligent efforts to obtain the Approvals. In the event that the Approvals are not obtained by the expiration of the Approvals Period, as the same may be extended, Purchaser may terminate this Contract by delivering notice to the Seller and Escrow Agent by the expiration of the Approvals Period. If Purchaser timely delivers such notice, the parties will proceed as provided in Section 3.A(a) above. The date of Purchaser’s actual receipt of the Approvals shall be referred to hereinafter as the “Approvals Date”.
Approvals Contingency. Xxxxxxxx agrees that Xxxxxx's ability to use the Leased Premises is contingent upon Xxxxxx's ability to obtain any and all governmental licenses, permits, approvals or other relief required for Tenant's use of the Leased Premises (called "Governmental Approvals"). by that date which is twelve (12) months from the date hereof, provided that Tenant shall have the right, without obligation, to appeal any denial. and the contingency date for obtaining Governmental Approvals shall be extended until such time as a final decision is rendered and is not the subject of any further appeal made or defended by Xxxxxx. Tenant shall use its best efforts to obtain such approvals. Xxxxxxxx agrees to cooperate with Xxxxxx and, at Xxxxxx's expense, join in any applications for Governmental Approvals. Landlord specifically authorizes Tenant to prepare, execute and file all necessary or appropriate applications to obtain Governmental Approvals for its use under this Lease. If this Paragraph 6 is not satisfied, then Tenant shall have the right exercised by notice to Landlord, accompanied by any unpaid rent through the date of termination, without obligation, to terminate this Lease and render it null and void from and after the date of termination. All rent accrued through the date of termination shall belong to the Landlord.
Approvals Contingency
