Approved Sale Contracts Sample Clauses

Approved Sale Contracts. As used herein the term "Approved Sale Contract" shall be a contract which has terms and provisions proposed by Seller and approved by Purchaser in its sole discretion. Notwithstanding any provision of this Agreement to the contrary, Seller may sell either Flower Mound or any other parcel of Undeveloped Land (each an "Exempt Tract") pursuant to an Approved Sale Contract. Purchaser shall not unreasonably withhold or delay its consent to any sale of Flower Mound. If prior to Closing, Seller enters into an Approved Sale Contract to sell an Exempt Tract which (i) closes prior to the Closing Date, the respective Exempt Tract shall not be a part of the Real Property Assets subject to the terms of this Agreement and the Purchase Price shall be adjusted in accordance with the terms of Section 2.2.5, or (ii) does not close prior to the Closing Date, Seller shall assign its rights thereto, Purchaser shall reimburse Seller for all reasonable costs paid by Seller in connection therewith, and Purchaser shall perform the obligations of Seller pursuant to the respective Approved Sale Contract and be entitled to all proceeds from the sale of the Exempt Tract.