Assumption Condition Sample Clauses

Assumption Condition. Provided that Purchaser (i) elects to assume the Existing Indebtedness; (ii) makes formal written application for such assumption by the fourteenth (14th) day after the Contract Date (iii) submits all required materials, including financial information and completed questionnaires, and (iv) diligently pursues such application process, the obligation of Purchaser to close the transaction described herein is expressly conditioned upon Purchaser obtaining, within forty (40) days of the Contract Date, the express written consent of GECC (or its loan servicer) to the assumption of the Existing Indebtedness. Any and all costs, charges and fees (including GECC's attorney's fees) associated with the assumption of the Existing Indebtedness shall be paid by Purchaser. In the event this condition shall not be fulfilled on the 41st day after the Contract Date and provided that prior to the end of the second business day following the 41st day after the Contract Date, Purchaser gives written notice to Seller that the condition has not been fulfilled, the Contract shall become null and void and all Xxxxxxx Money, together with all interest earned thereon, shall be returned to the Purchaser, and except as otherwise provided in this Agreement, neither party shall have any further liability to the other hereunder.
Sample 1
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Related to Assumption Condition

  • Xxxxx of Option; Conditions Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 years commencing on the day following the Termination Date of the initial Term and ending on the 5th anniversary of the Termination Date (the “Renewal Term”), if:

  • Grant of Option; Conditions Tenant shall have the right (the “Extension Option”) to extend the Term for one (1) additional period of five (5) years beginning on the day immediately following the expiration date of the Lease and ending on the fifth anniversary of such expiration date (the “Extension Term”), if:

  • Satisfaction of Conditions Precedent Each party will use commercially reasonable efforts to satisfy or cause to be satisfied all the conditions precedent that are applicable to them, and to cause the transactions contemplated by this Agreement to be consummated, and, without limiting the generality of the foregoing, to obtain all material consents and authorizations of third parties and to make filings with, and give all notices to, third parties that may be necessary or reasonably required on its part in order to effect the transactions contemplated hereby.

  • Prior Conditions Satisfied All conditions set forth in §10 shall continue to be satisfied as of the date upon which any Loan is to be made or any Letter of Credit is to be issued.

  • Conditions Precedent/Effectiveness Conditions This Amendment shall be effective upon (the “Effective Date”) the satisfaction of each of the following conditions (all documents to be in form and substance reasonably satisfactory to Administrative Agent and Administrative Agent’s counsel):

  • Certain Conditions to Assignments Assignments shall be subject to the following additional conditions:

  • Effectiveness; Conditions Precedent The effectiveness of this Amendment and the amendments to the Credit Agreement herein provided are subject to the satisfaction of the following conditions precedent:

  • Purchaser’s Conditions Precedent Except as may be waived in writing by Purchaser, the obligations of Purchaser hereunder are subject to the fulfillment at or prior to the Closing of each of the following conditions:

  • Additional Conditions Precedent No Lender has any obligation to make any Loan (including its first), and LC Issuer has no obligation to issue any Letter of Credit (including its first), unless the following conditions precedent have been satisfied:

  • Seller’s Conditions Precedent The obligations of Seller to consummate the transactions contemplated by this Agreement are subject to the satisfaction or waiver, at or prior to the Closing Date, of each of the following conditions precedent:

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