Common use of Changing the Firm Closing Date – By Setting a Delayed Closing Date Clause in Contracts

Changing the Firm Closing Date – By Setting a Delayed Closing Date. (a) If the Vendor cannot Close on the Firm Closing Date and sections 4 and 5 do not apply, the Vendor shall select and give written notice to the Purchaser of a Delayed Closing Date in accordance with this section, and delayed closing compensation is payable in accordance with section 7.