Developer Financial Close Notice; IFA Notice Extending Financial Close Sample Clauses

Developer Financial Close Notice; IFA Notice Extending Financial Close. 13.7.2.1 Developer shall give IFA forty-five (45) days’ Notice (the “Developer FC Notice”) of the date scheduled for Financial Close, which date shall not be earlier than May 27, 2014 and no later than the date of the expiration of the commitment of the Lenders identified in Developer’s plan of finance in respect of the Project that provides for the earliest expiration date. If IFA desires to extend the date for Financial Close set out in the Developer FC Notice, IFA shall give Developer Notice thereof (the “IFA FC Notice”) at least thirty (30) days prior to the date scheduled for Financial Close as set forth in the Developer FC Notice, setting forth the new scheduled date for Financial Close, which date shall not exceed one hundred twenty (120) days from the date originally scheduled for Financial Close as set forth in the Developer FC Notice, and Developer shall extend the Financial Close Security to the new scheduled date for Financial Close. In the event the Effective Date occurs after a date which is forty-five (45) days’ before the date scheduled for Financial Close as set forth in the Proposal, Developer shall have a day for day extension to give the Developer FC Notice and there shall be a day for day extension of the date scheduled for Financial Close.
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