Common use of Delayed Closing Compensation Clause in Contracts

Delayed Closing Compensation. (a) The Vendor warrants to the Purchaser that, if Closing is delayed beyond the Firm Closing Date (other than by mutual agreement or as a result of Unavoidable Delay as permitted under sections 4 and 5), then the Vendor shall compensate the Purchaser up to a total amount of $7,500, which amount includes: (i) payment to the Purchaser of a set amount of $150 a day for living expenses for each day of delay until the date of Closing; or the date of termination of the Purchase Agreement, as applicable under paragraph (b) below; and (ii) any other expenses (supported by receipts) incurred by the Purchaser due to the delay.

Delayed Closing Compensation. (a) a. The Vendor warrants to the Purchaser that, if Closing is Closingis delayed beyond the Firm Closing Date (other than by mutual agreement or as a result of Unavoidable Delay as permitted under sections 4 and 5), then the Vendor shall compensate the Purchaser up to a total amount of $7,500, which amount includes: (iincludes:(i) payment to the Purchaser of a set amount of $150 a day for living expenses for each day of delay until the date of Closing; or Closing;or the date of termination of the Purchase Agreement, as applicable under paragraph (b) below; and b)below;and (ii) any other expenses (supported by receipts) incurred by the Purchaser due to the delay.