Assumption Approval. By no later than 5:00 p.m., Dallas, Texas time on January 18, 2005 (the ASSUMPTION APPROVAL DATE), Buyer shall either:
(a) terminate this Contract by giving a termination notice to Sellers stating that the terms of the Assumption are not acceptable to Buyer, following which Closing Agent shall deliver the Earnest Money to Seller (together with all interexx xxxxeon) and the parties shall have no further rights, liabilities, or obligations under this Contract (other than those that expressly survive termination); or
(b) waive its right to terminate this Contract for matters related to the Assumption by proceeding to Closing (absent a termination pursuant to (a) above, Buyer shall be deemed to have waived its right to terminate this Contract by virtue of an unacceptable Assumption). Buyer covenants to communicate with Sellers and to keep Sellers informed with respect to the status of the Assumption and the Seller Releases. Buyer will promptly notify Sellers when each Lender consents to the Assumption and the Seller Releases. If Buyer is unable to obtain the Seller Releases by noon, Dallas, Texas time on January 17, 2005, Buyer will promptly notify Sellers in writing thereof.
Assumption Approval. 23 Section 6.6 Release Approval....................................................................23
Assumption Approval. Buyer shall have received Lender’s Assumption Approval on or before the Assumption Approval Deadline.
Assumption Approval. Lender shall have given Assumption Approval on or before the Assumption Approval Deadline.
Assumption Approval. Solely with respect to the Assumption Closing, the Assumption Approval shall have been obtained in accordance with the terms of this Agreement. The failure of any condition in this Section 2.5, to the extent not waived by Buyer, shall enable Buyer to terminate this Agreement and exercise its remedies under Section 4.12 hereof (unless there is a failure under subsection (d) above, for which Buyer shall receive a return of the Deposit only (less the Non-Refundable Portion which shall be paid to Seller), so long as it has diligently pursued the Assumption Approval in good faith).
Assumption Approval. The Assumption Approval is obtained and Seller is released by Lender from any and all responsibilities and obligations under the Existing Loan Documents arising from and after the Closing Date.
Assumption Approval. Assumption Approval shall have been obtained. If at Closing Seller determines that any of the contingencies specified in this Section 9.8 have not been satisfied or (if waivable) waived by Seller, then Seller may, by written notice to Buyer, cancel and terminate this Agreement (“Seller’s Termination Notice”) and, upon the delivery of the Seller’s Termination Notice, the Xxxxxxx Money will be remitted to Buyer, and thereafter, the parties will be mutually released from all liabilities and obligations hereunder, save and except that Buyer will promptly return to Seller all copies of the Property Information provided to Buyer, and Buyer will continue to be liable under Section 2.5 hereof. Notwithstanding the foregoing or any other provision contained in this Agreement, in the event this Agreement is terminated by Seller as a result of the exercise by Raytheon of its right to purchase the Property pursuant to Section 9.8(a) above, Seller shall reimburse Buyer for its actual out of pocket costs incurred in connection with its potential purchase of the Property upon presentation of paid receipts in an amount not to exceed $150,000 in the aggregate.
Assumption Approval. The Assumption Approval is obtained.
Assumption Approval. In the event that by 5:00 p.m., Houston, Texas time on June 25, 2005 (the "ASSUMPTION APPROVAL DEADLINE") Lender has not approved the Assumption on terms acceptable to Buyer, subject to Buyer's rights under SECTION 6.6, Buyer shall waive its right to terminate this Contract for matters related to the Assumption by proceeding to Closing.
Assumption Approval. Assumption Approval shall have been obtained.
