Approvals Contingency Sample Clauses

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. ▇▇▇▇▇▇▇▇▇ 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".
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Approvals Contingency. ▇▇▇▇▇▇▇▇ agrees that ▇▇▇▇▇▇'s ability to use the Leased Premises is contingent upon ▇▇▇▇▇▇'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 ▇▇▇▇▇▇. Tenant shall use its best efforts to obtain such approvals. ▇▇▇▇▇▇▇▇ agrees to cooperate with ▇▇▇▇▇▇ and, at ▇▇▇▇▇▇'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.
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Approvals Contingency 
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Related to Approvals Contingency

  • Construction Contingency The proposed GMP Change Order shall include, as a separately identified item, a Construction Contingency sum in an initial amount (subject to increase or decrease) against which Design-Builder can draw at its election for the purposes set forth in Section 4 Part 4. The initial Construction Contingency sum shall include the contingency amounts stated in all accepted Component Change Orders.

  • BUDGET CONTINGENCY If the Budget Act of the current year covered under this Grant Agreement does not appropriate sufficient funds for this program, this Grant Agreement shall be of no force and effect. This provision shall be construed as a condition precedent to the obligation of the State to make any payments under this Grant Agreement. In this event, the State shall have no liability to pay any funds whatsoever to the Grantee or to furnish any other considerations under this Grant Agreement and the Grantee shall not be obligated to perform any provisions of this Grant Agreement. Nothing in this Grant Agreement shall be construed to provide the Grantee with a right of priority for payment over any other Grantee. If funding for any fiscal year after the current year covered by this Grant Agreement is reduced or deleted by the Budget Act, by Executive Order, or by order of the Department of Finance, the State shall have the option to either cancel this Grant Agreement with no liability occurring to the State, or offer a Grant Agreement amendment to the Grantee to reflect the reduced amount.

  • MORTGAGE CONTINGENCY A. This agreement is contingent upon Purchaser obtaining approval of a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or mortgage loan of $ for a term of no more than years at an initial fixed or adjustable nominal interest rate not to exceed % (percent). Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser’s receipt of the mortgage commitment or of Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , , then either Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of termination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser’s inability to obtain said mortgage approval, this agreement shall be cancelled, null and void, and all deposits made hereunder shall be returned to the Purchaser.

  • Financing Contingency The Buyer’s obligations herein are contingent on the Buyer’s obtaining financing to pay the balance on the Purchase Price. The Buyer must present to the Seller a binding commitment for financing the purchase of the Property within days from the Effective date. The terms of the financing must be acceptable to and approved by the Buyer who shall not unreasonably withhold such approval. In the event that the Buyer fails to obtain financing within the time allotted, this Agreement shall automatically terminated and all funds paid by the Buyer shall be returned to the Buyer after deducting all reasonable costs incurred by the Seller in good faith in relation this Agreement.

  • FUNDING CONTINGENCY a. In the event funding from state, federal, or other sources is withdrawn, reduced, or limited in any way after the effective date of this Contract and prior to completion of the work in this Contract, DCYF may: (1) Terminate this Contract with ten (10) days advance notice. If this Contract is terminated, the parties shall be liable only for performance rendered or costs incurred in accordance with the terms of this Contract prior to the effective date of termination; (2) Renegotiate the terms of the Contract under the new funding limitations and conditions; (3) After a review of project expenditures and deliverable status, extend the end date of this Contract and postpone deliverables or portions of deliverables; or (4) Pursue such other alternatives as the parties mutually agree to in writing. b. Any termination under this Section (FUNDING CONTINGENCY) shall be considered a Termination for Convenience.