Common use of Extension of Due Date of Note Clause in Contracts

Extension of Due Date of Note. If Buyer has submitted a claim for Indemnifiable Losses pursuant to this Section 14 and there remains pending a claim for Indemnifiable Losses on the date payment of the Note is due, Buyer, in addition to its right to offset described in Section 3.3.3, shall be entitled to postpone payment of the Note until the claim for Indemnifiable Losses has been resolved pursuant to Section 14.

Appears in 4 contracts

Samples: Asset Purchase Agreement (Northland Cable Properties Six LTD Partnership), Asset Purchase Agreement (Northland Cable Properties Five LTD Partnership), Asset Purchase Agreement (Northland Cable Properties Five LTD Partnership)

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