Common use of COVID-19 Delays Clause in Contracts

COVID-19 Delays. Notwithstanding anything to the contrary in this Agreement, if there is a court closure due to the COVID-19 pandemic while an Injunction Preventing Closing is pending or in effect, then, so long as the Closing occurs within two (2) years of the Primary Target Closing Date, the Primary Target Closing Date shall be tolled until the date that is five (5) Business Days after the court resumes operations in a manner that allows proceedings on the Injunction Preventing Closing to continue. In addition, ifthe Of icial Records of San Diego County, the Escrow Agent used by the Parties and required for the Closing of the Sale Transaction or the bank used by a Party or the Escrow Agent and needed for the transfer of funds in connection with the Sale Transaction, is not open for business due to the COVID-19 pandemic and af ects the ability to proceed with the Closing, then, so long as the Closing occurs within two (2) years of the Primary Target Closing Date, then the Primary Target Closing Date shall be extended to the date that is two (2) business days after such offices or bank reopen for business or otherwise are able to ef ectuate the Closing.

Appears in 2 contracts

Samples: Real Property Purchase and Sale Agreement, Real Property Purchase and Sale Agreement

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COVID-19 Delays. Notwithstanding anything to the contrary in this Agreement, if there is a court closure due to the COVID-19 pandemic while an Injunction Preventing Closing is pending or in effect, then, so long as the Closing occurs within two (2) years of the Primary Target Closing Date, the Primary Target Closing Date shall be tolled until the date that is five (5) Business Days after the court resumes operations in a manner that allows proceedings on the Injunction Preventing Closing to continue. In addition, ifthe Of icial O ficial Records of San Diego County, the Escrow Agent used by the Parties and required for the Closing of the Sale Transaction or the bank used by a Party or the Escrow Agent and needed for the transfer of funds in connection with the Sale Transaction, is not open for business due to the COVID-19 pandemic and af ects a fects the ability to proceed with the Closing, then, so long as the Closing occurs within two (2) years of the Primary Target Closing Date, then the Primary Target Closing Date shall be extended to the date that is two (2) business days after such offices or bank reopen for business or otherwise are able to ef ectuate e fectuate the Closing.

Appears in 2 contracts

Samples: Real Property Purchase and Sale Agreement, Real Property Purchase and Sale Agreement

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COVID-19 Delays. Notwithstanding anything to the contrary in this Agreement, if there is a court closure due to the COVID-19 pandemic while an Injunction Preventing Closing is pending or in effect, then, so long as the Closing occurs within two (2) years of the original Primary Target Closing Date, the Primary Target Closing Date shall be tolled until the date that is five (5) Business Days after the court resumes operations in a manner that allows proceedings on the Injunction Preventing Closing to continue. In addition, ifthe Of icial if the Official Records of San Diego County, the Escrow Agent used by the Parties and required for the Closing of the Sale Transaction or the bank used by a Party or the Escrow Agent and needed for the transfer of funds in connection with the Sale Transaction, is not open for business due to the COVID-19 pandemic and af ects affects the ability to proceed with the Closing, then, so long as the Closing occurs within two (2) years of the original Primary Target Closing Date, then the Primary Target Closing Date shall be extended to the the‌ date that is two (2) business days Business Days after such offices or bank reopen for business or otherwise are able to ef ectuate effectuate the Closing.

Appears in 1 contract

Samples: Real Property Purchase and Sale Agreement and Joint Escrow Instructions

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