Closing Extension Sample Clauses

Closing Extension. The Buyer and Seller acknowledge that mortgage regulations promulgated by the Federal Consumer Financial Protection Bureau (“CFPB”) known as the TRID (TILA-RESPA Integrated Disclosure) Rule may affect the Parties’ ability to close on the date and time as specified in the Purchase and Sale Agreement. To provide for possible Closing delays, and to reasonably accommodate each other in completing this transaction, the Seller and Buyer agree as follows: A. SELLER and BUYER acknowledge and agree that the BUYER’s obligations herein are conditioned on the timely funding of BUYER’s purchase money mortgage(s) referenced in the Mortgage Contingency Clause in this Agreement. The Consumer Financial Protection Bureau (“CFPB”) has promulgated regulations, which require banks, and other lenders of residential mortgage products (“Creditor”), to deliver final “Closing Figures” and a Closing Disclosure or Settlement Statement Document (“CD”) to the BUYER (as “Consumer”) at least Three (3) business days (as defined by Federal regulations) prior to the to the date of Closing. B. If the BUYER’s Creditor associated with this transaction is required to give the BUYER a new CD with an applicable review period or any new disclosure(s) in accordance with the CFPB, and/or other associated or related regulations, which require extension of the date for the time of performance contained herein for funding of the BUYER’s purchase money mortgage(s); then the SELLER hereby agrees, upon receipt of written notice from BUYER, to extend said time for performance so that the BUYER’s Creditor associated with this transaction is in compliance with the CFPB’s regulation(s)/laws, including but not limited to, a review period for the CD by the BUYER and any other regulation(s)/laws, without prejudice to the BUYER or the BUYER’s deposit, and at no additional cost or liability to the BUYER. Notwithstanding the provisions of this paragraph, the parties agree that the maximum number of days that the Agreement can be extended is Five (5) business day due to a CFPB related delay, or as otherwise mutually agreed upon by the Parties. BUYER: BUYER: SELLER: SL OWNER, LLC, By: DPI, LLC, its Manager, By: ▇▇▇▇ ▇▇▇▇▇▇, its Manager I/We, the undersigned, do hereby certify, under the pains and penalties of perjury, that (1) the tax identification and/or social security number(s), as shown on this form is our correct taxpayer identification number(s), and (2) that I/We are not subject to backup withholding taxes, e...

Closing Extension. If Seller is delayed in completing construction of the home or any other portion of the improvements at the Property due to causes beyond Seller's reasonable control, including but not limited to, acts of God, war, riot, fire, earthquake, flood, extreme weather conditions, explosion, condemnation, strikes, epidemics, government action, state or federal emergency orders, unavailability of labor or materials, damaged or stolen materials, add-ons or changes from Buyer, loss or damages fire, flood, wind, earthquake, hurricane and all other weather related events or acts of nature, restrictive governmental regulations or other acts of government agencies asserting jurisdiction over the Property, then Seller may postpone (on one or more occasions) the Closing Date to a date within six (6) months after the Estimated Closing Date by written notice to Buyer on or before such later date, provided, however, that such date may be no later than two (2) years from the date of this Agreement. For the avoidance of doubt, Seller shall have no responsibility for Buyer's interest rate increases if the construction time exceeds Buyer's lock in interest rate deadline or for the costs of any replacement housing pending Closing.

Closing Extension. In accordance with Section 10 of the Agreement, Buyer shall have a onetime option to extend the Closing Date to January 31, 2017 by delivering to Escrow Agent an additional TWO MILLION and NO/100 DOLLARS ($2,000,000.00) ("Extension ▇▇▇▇▇▇▇ Money"); provided, however, Buyer shall not be required to provide any additional advance notice. The Extension ▇▇▇▇▇▇▇ Money shall become part the ▇▇▇▇▇▇▇ Money and shall be deemed non-refundable except as otherwise set forth in this Agreement. The Closing shall be held through the mail by delivery of the closing documents to the Escrow Agent on or prior to the Closing or such other place or manner as the parties hereto.

Closing Extension. Paragraphs 7(a) and 7(b) of the Agreement give Buyer the right to extend the Closing Date. If Buyer elects to extend the closing beyond the Closing Date established in Paragraph 1 of this Amendment, then Buyer shall give Seller written notice and pay the Extension Fee of $100,000 to Seller on or before the Closing Date established in Paragraph 1 above. In such event, the closing shall be extended to no later than September 30, 2001, and the Purchase Price shall be increased by $100,000 for each 30-days of closing extension beyond the Closing Date established in Paragraph 1 above. The Extension Fee shall be applied to such increased Purchase Price at closing. Buyer shall provide at least five (5) days notice to Seller of the Extended Closing Date which shall be no later than September 30, 2001.

Closing Extension. The first sentence Section 6 of the Purchase Agreement is hereby amended and modified to delete the stricken language and insert the italicized language, as follows:

Closing Extension. The Closing Date may be extended at the option of Buyer to permit the full running of the aforementioned twenty (20) business days prior thereto.

Closing Extension. (a) Buyer shall have the right to extend the Tranche 1 Closing Date to a date not later than November 7, 2013 by providing written notice to Seller no later than the originally scheduled Tranche 1 Closing Date. Simultaneously with delivery of such notice, Buyer shall deliver to Escrowholder the sum of Five Hundred Fifty Thousand and No/100ths Dollars ($550,000.00) (the “First Extension Deposit”), which amount shall be held and be deemed a part of the ▇▇▇▇▇▇▇ Money for all purposes hereunder. The First Extension Deposit shall be allocated to each Tranche 1 Property as set forth on Schedule 2 attached hereto. Further, to the extent the Tranche 2 Approval Date shall have not occurred prior to the date that Buyer exercises such extension, Buyer’s exercise of the extension option hereunder and delivery of the First Extension Deposit shall be deemed Buyer’s waiver of any rights to terminate this Agreement prior to the Tranche 2 Approval Date pursuant to Section 6.4 herein. (b) Buyer shall have the right to extend the Tranche 2 Closing Date to a date not later than December 10, 2013, by providing written notice to Seller no later than three (3) business days prior to the originally scheduled Tranche 2 Closing Date. Simultaneously with delivery of such notice, Buyer shall deliver to Escrowholder the sum of Four Hundred Fifty Thousand and No/100ths Dollars ($450,000.00) (the “Second Extension Deposit”) which amount shall be held and be deemed a part of the ▇▇▇▇▇▇▇ Money for all purposes hereunder. The Second Extension Deposit shall be allocated to each Tranche 2 Property as set forth on Schedule 2 attached hereto.

Closing Extension. Buyer shall be entitled to one (1), one (1) month extension option of the Closing Date (“Extension Option”). Said Extension Option shall be at a cost to Buyer of $1,000,000.00 (“Extension Fee”). The Extension Fee shall be immediately non-refundable to Buyer upon deposit and shall be applicable to the Purchase Price. Buyer may exercise the Extension Option by notifying Sellers and Closing Agent of such election in writing and upon the payment of the Extension Fee to the Closing Agent prior to the end of the current Closing Date. Upon payment of the Extension Fee to the Closing Agent, the Extension Fee will initially be deposited in an account with Closing Agent, and upon funding of said amount, shall be disbursed to Sellers and deposited in Sellers’ account.

Closing Extension. In the event that Optionee’s review of due diligence matters provided for in this Section 5 results in Optionee not being satisfied with the condition of the Easement Property, Optionee may extend the Closing for a period of _________ (__) days so that Optionee and Owner may address such results.