Extended Closing Date. In the event that the Zone Change, Specific Plan Amendment or Buyer’s Final Map has not been Approved at least ninety (90) days before the Closing Date, but the Final Parcel Map has been Approved and recorded, Buyer shall have the right to extend the Closing Date for two (2) additional sixty (60)-day periods (each a “Closing Date Extension”) as set forth in this Section 7.2. To exercise a Closing Date Extension, Buyer shall provide written notice to Seller and Escrow Holder (the “Closing Date Extension Notice”) not later than thirty (30) days before the then applicable Closing Date. Buyer’s right to extend the Closing Date shall apply if and only if, at the time Buyer provides the Closing Date Extension Notice, the Authorities have not Approved the Zone Change, Specific Plan Amendment, or Buyer’s Final Map. Buyer shall pay to Seller, through Escrow, the sum of Twenty-Five Thousand Dollars ($25,000.00) (an “Extension Fee”) for each Closing Date Extension that Buyer elects to exercise. The Extension Fee shall be due and payable upon Buyer’s delivery of the Closing Date Extension Notice, and Escrow Holder shall promptly disburse any and all Extension Fees to Seller. Any and all Extension Fees paid to Seller pursuant to this Section shall not be applicable toward the Purchase Price and shall be non-refundable to Buyer.
Extended Closing Date. Notwithstanding the provisions of Section 1.06 of the Original Agreement or Section B of the First Amendment to the Original Agreement, it is mutually agreed that the Closing shall occur on or before the earlier to occur of (i) June 15, 1998 or (ii) the date of the closing of the merger between Buyer and Faircom Inc. upon not less than five (5) business days' notice from Buyer to Sellers. The parties agree to cooperate, at Buyer's cost, in obtaining any extensions of the effective period of the FCC's Final Order as may be necessary or appropriate. In the event the proper five (5) business days' notice is given (being a notice that contains a representation that Buyer has the ability, subject to customary closing documentation, to deliver on the Closing Date the Purchase Price in accordance with Section 1.05 of the Purchase Agreement) and either party is unable to close within such time, such party shall have fifteen (15) days after the expiration of such notice period in which to close; provided, however, that such fifteen day period will be applicable to Buyer's time to close only in the event that within fifteen (15) days' of Buyer's notice of closing, the condition of customary closing documentation has been satisfied, or funds to cover the Purchase Price have been placed in escrow pending delivery of specified closing documents, or Sellers are satisfied, to their reasonable but sole discretion, that the funds sufficient to cover the Purchase Price are readily available for disbursement at the Closing. Subject to the fifteen day periods set forth in the preceding sentence, the failure of either Buyer or Sellers to consummate the Closing by the closing of the Faircom Transaction under circumstances where all of the conditions precedent to the obligations of that party have been satisfied or complied with shall immediately entitle the other party (provided it is not then in material default or breach of the Agreement) to terminate the Agreement without requirement of notice of breach or default as provided in Sections 13.01(b), (c) or (d) of the Agreement. In any event, if the notice of Closing has not been given by June 8, 1998 and on June 15, 1998 Sellers deliver to Buyer the certificate of the Company, dated June 15, 1998, in the form described in Section 8.01(c), unless otherwise agreed by the parties, Seller may immediately terminate the Agreement without requirement of notice of breach or default as provided in Sections 13.01(b), (c) or (d) of the A...
Extended Closing Date. Pursuant to the Purchase Agreement/Escrow Instructions, Seller reserves the option to use subject property as part of a tax deferred exchange and Buyer agrees to cooperate providing, among other things, this escrow is closed no later than April 1, 2004. Undersigned herein agree that Seller must give faxed notice to escrow holder no later than February 23rd, if Seller requires additional time for his tax deferred exchange. It is further agreed that Buyer shall be given a four (4) business day notice, prior to the closing date, if said closing days has been extended for Seller’s tax deferred exchange.
Extended Closing Date. Purchaser shall have five (5) options to extend the Closing Date from the last business day of the month commencing April 30, 1996 (each hereinafter referred to respectively as a "Monthly Extension") to the last day of the next following month; however, in no event shall the closing occur later than the Outside Closing Date. Each Monthly Extension shall be exercised by delivery to the Seller of $25,000.00 paid by check, on or before the last day of the month for the ensuing monthly extension. Monthly Extension payments shall not be credited against the Purchase Price and shall be a payment made directly to Seller in consideration for the extension of the Closing Date. In the event the Closing occurs after April 30, 1996, on a Closing Date other than the last day of a given month, then the Monthly Extension payment for said month will be prorated as of the Closing Date.
Extended Closing Date. Notwithstanding the foregoing, if any of Buyer’s conditions to Closing set forth in Article VII hereof are not satisfied or otherwise waived by Buyer as of the Initial Closing Date, then Buyer shall have the option, by written notice to Seller, to extend the Closing beyond the Initial Closing Date until the date which is five (5) business days following the date that all such conditions to Closing set forth in Article VII hereof are satisfied, but in no event to exceed sixty (60) days beyond December 31, 2009 (the “Extended Closing Date”).
Extended Closing Date. Notwithstanding anything to the contrary --------------------- contained in Section 11.5, if the Closing Date has not occurred by August 31, 1997:
(a) Purchaser, if it is not in default hereunder, may elect at any time thereafter to terminate Escrow and this Agreement, in which event the Escrow Deposit, Holdback Amount and all other amounts or documents deposited by Purchaser shall be returned to Purchaser upon Purchaser giving notice of its election to terminate; and
(b) Sellers may elect at any time thereafter to terminate Escrow and this Agreement provided that all of the following conditions are satisfied: (i) no such election may be made by Sellers unless the Committee and Banque Paribas jointly deliver notice to Purchaser of such election at least fourteen (14) days prior to the effective date of termination, (ii) no Seller shall be in default hereunder as of the date of such election, including without limitation, any provision contained in Article 4, 6, 8, 11, 13 or 14, and (iii) at the time such notice is to be effective, Sellers shall pay to Purchaser the sum of $175,000 as liquidated damages and the Escrow Deposit, Holdback Amount and all other amounts or documents deposited by Purchaser shall be returned to Purchaser.
Extended Closing Date. In the event Purchaser shall not have terminated this Agreement as provided in Section 3.3.2 or Section 3.6, but, as of the end of the Due Diligence Period, Purchaser has not obtained a financing commitment for a Business and Industry Government Loan (the "Financing Commitment"), then Purchaser shall have the right to extend the Date of Closing for an additional sixty (60) days (the "Financing Extension Period"), only for the purpose of obtaining the Financing Commitment, by providing written notice to Seller on or before the expiration of the Due Diligence Period and by depositing $150,000.00 with the Title Company (the "Financing Extension Deposit"). The Financing Extension Deposit shall be non-refundable, shall be in addition to the Initial Deposit and the Additional Deposit, and for purposes of this Agreement, shall be treated as, and disbursed as a part of, the Deposit. In the event Purchaser shall not have obtained the Financing Commitment by the end of the Financing Extension Period, Purchaser shall have the right to terminate this Agreement and its obligations hereunder by providing written notice to Seller of such termination on or before the expiration of the Financing Extension Period, whereupon the Deposit (including the Financing Extension Deposit), shall be paid to Seller; or, in the event that Purchaser fails to deliver such written notice to Seller terminating this Agreement, such failure shall be deemed to be an election of Purchaser to proceed to Closing and to purchase the Property pursuant to the terms and conditions herein contained, and, upon Closing, the Financing Extension Deposit shall be credited against the Purchase Price as a part of the Deposit.
Extended Closing Date. Section 4.1 of the Agreement is hereby deleted in its entirety and the following language is substituted in lieu thereof:
Extended Closing Date. Buyer shall have the right to extend the Closing Date as provided in this paragraph 2.2.
Extended Closing Date. Buyer shall have the right to extend the Closing Date for two (2) additional thirty (30)-day periods (each a “Closing Date Extension”) as set forth in this Section 7.2. To exercise a Closing Date Extension, Buyer shall provide written notice to Seller and Escrow Holder (the “Closing Date Extension Notice”) not later than ten (10) days before the then applicable Closing Date. Buyer shall pay to Seller, through Escrow, the sum of Twenty-Five Thousand Dollars ($25,000.00) (an “Extension Fee”) for each Closing Date Extension that Buyer elects to exercise. The Extension Fee shall be due and payable upon Buyer’s delivery of the Closing Date Extension Notice. Any and all Extension Fees paid to Seller pursuant to this Section shall be applicable toward the Purchase Price and shall be non-refundable to Buyer.
