Delay in Closing Sample Clauses

Delay in Closing. In the event that the purchaser fails to take title to the Premises within fifteen (15) days after the issuance of the Permanent Certificate of Occupancy, Purchaser shall pay to Seller the sum of $ per day for each and every day from the date that the Permanent Certificate of Occupancy was issued to and including the date of closing.

Delay in Closing. The loan will not be closed if, at the loan closing, the seller (in a sale transaction) or the bor- rower (in a nonpurchase money loan situation) indicates that construction, repair, or remodeling has been com- menced or completed on the property, or related materials or services have been delivered to or performed on the property within the time limit speci- fied in the affidavit, unless a State Supplement provides otherwise. The closing agent will notify the approval official, who will determine if the work of improvement could result in a lien prior to the agency lien. The State Of- fice will, with the advice and concur- rence of OGC, provide in a State Sup- plement the period of time to be used in completing the affidavit.

Delay in Closing. AUTHORITY TO CLOSE If Escrow Agent cannot close the Escrow on or before the Scheduled Closing Date, it will nevertheless close when all conditions have been satisfied or waived, notwithstanding that one or more of such conditions was not timely performed, unless after the Scheduled Closing Date and prior to the close of the delayed Escrow, Escrow Agent receives a written notice to terminate the Escrow and this Agreement from a party who, at the time such notice is delivered, is not in default. Neither (i) the exercise of the right of termination, (ii) delay in the exercise of the right of termination, nor (iii) the return of monies and documents, shall affect the right of the party giving notice of termination to pursue legal or equitable remedies for the other party's breach of this Agreement. Nor shall (i) the giving of such notice, (ii) the failure to object to termination of the Escrow, or (iii) the return of monies and documents affect the right of the other party to pursue legal or equitable remedies for the breach of the party who gives notice.

Delay in Closing. In the event the Closing does not take place by August 31, 2008, Lender has the right to terminate its obligations and forbearance hereunder and in the documents related hereto by written notice to the other parties hereto.

Delay in Closing. The Purchaser understands that the Company is a public reporting company subject to the reporting requirements of the Securities Exchange Act. Purchaser also understands that pursuant to such reporting requirements the Company must: (i) file a preliminary information statement on Schedule 14C (the “Information Statement”) with the Securities and Exchange Commission at least thirty days prior to the Closing Date, and (ii) distribute copies of the definitive Information Statement at least twenty days prior to the Closing Date. Purchaser understands and agrees that any delay in Closing caused by, indirectly or directly, the Company’s obligation to file or distribute an Information Statement shall not constitute a breach of this Agreement. The parties agree that the Closing Date shall be extended as required to enable the Company to comply with the above requirements of law.

Delay in Closing. If the Closing is not effectuated during the period specified in Clause 5.1 hereof for any reason attributable to the Purchaser, then the Purchaser shall pay the Seller default interest calculated on the basis of the Remaining Price and determined by applying the LIBOR Rate plus six (6) points during the default period. If the Closing is not effectuated during the period specified in Clause 5.1 for any reason attributable to the Seller, then the Seller shall reimburse the Purchaser for any and all damages the Purchaser incurs as a result of said default. THIRD CLAUSE: Sellers' Representations and Warranties On this date, the Seller hereby represents and warrants the following:

Delay in Closing. If the Closing has not occurred by December 31, 2008, then any Party whose actions or failure to act are not a cause of the delay of Closing shall have the right to terminate this Transaction Agreement upon thirty days’ advance written notice to all other Parties; provided, however, that any such notice of termination shall be rendered null and void and without force or effect if: (a) the Closing is completed within thirty days of the date on which such notice was issued; or, (b) the delay is due to action or inaction by a regulatory authority from which a Required Regulatory Approval or other consent or cooperation is required and the Party receiving the notice of termination has exercised and is continuing to exercise Best Efforts to enable it to close. If no Party acts to terminate the Transaction Agreement, the Closing shall be automatically extended for no more than five successive periods of thirty days. If the Closing is delayed for any reason other than 2.3.6.1 The failure of ODEC to timely perform any of its obligations hereunder, or 2.3.6.2 The failure, despite the Parties’ Best Efforts, to obtain Required Regulatory Approvals, then the provisions of Section 3.3 of the Termination Agreement will govern any sales of power by ODEC to NOVEC after December 31, 2008.

Delay in Closing. If a party is unable to complete Closing by the Closing Date but intends to complete the transaction and is acting in good faith and with reasonable diligence to proceed to Closing (“Delaying Party”), and if the other party is ready, willing and able to complete Closing on the Closing Date (“Non-Delaying Party”) then the Delaying Party shall give as much notice as possible to the Non-Delaying Party and shall be entitled to a delay in Closing. If the parties fail to complete Closing within fifteen (15) business days of the Closing Date, or to further extend the Closing Date by written agreement, then the Delaying Party shall be in default and the Non-Delaying Party may terminate this Agreement and shall be entitled to enforce any remedies available to such party under this Agreement for the breach.

Delay in Closing. By Royal Palm or Mercantile Sub if the Merger shall not have been consummated on or before December 31, 2006;

Delay in Closing. By HNB or Mercantile Sub if the Merger shall not have been consummated on or before December 31, 2007;