Extension of Inspection Date Sample Clauses

Extension of Inspection Date. The first sentence of Section 3.2 of the Contract is hereby deleted in its entirety and the following is substituted in lieu thereof: "Seller agrees that in the event Purchaser determines, in Purchaser's sole and absolute discretion, that it does not wish to acquire the Property for any reason or no reason, then Purchaser shall have the right to terminate this Agreement by giving written notice of such termination to Seller on or before December 26, 2013 (the "Inspection Date'').”
Sample 1
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Extension of Inspection Date of the Contract is hereby deleted in its entirety and the following is substituted in lieu thereof: "Seller agrees that in the event Purchaser determines, in Purchaser's sole and absolute discretion, that it does not wish to acquire the Property for any reason or no reason, then Purchaser shall have the right to terminate this Agreement by giving written notice of such termination to Seller on or before January 10, 2014 (the "Inspection Date''). Upon any such termination of this Agreement pursuant to Purchaser's rights under the first sentence of this Section 3.2, the Xxxxxxx Money shall be promptly returned to Purchaser in accordance with Section 1.6 hereof and Purchaser and Seller shall have no further rights and obligations hereunder except those which expressly survive termination of this Agreement. If Purchaser fails to give Seller timely notice of termination on or before the Inspection Date, then (subject to the following sentence) Purchaser shall no longer have the right to terminate this Agreement under this Section 3.2 and (subject to any contrary provisions of this Agreement) shall be bound to proceed to Closing and consummate the transaction contemplated hereby pursuant to the terms of this Agreement, and the Xxxxxxx Money shall be nonrefundable to Purchaser, but for Purchaser's right to a return of the Xxxxxxx Money pursuant to the provisions of Sections 4.6, 6.2, or 7.1 of this Agreement. Notwithstanding the foregoing, in the event Purchaser does not receive a Phase I environmental site assessment which is reasonably satisfactory to Purchaser on or before January 17, 2014 (the "Phase I Deadline''), then Purchaser shall have the right to terminate this Agreement by giving written notice of such termination to Seller on or before the Phase I Deadline. Upon any such termination of this Agreement pursuant to Purchaser's rights under the foregoing sentence of this Section 3.2, the Xxxxxxx Money shall be promptly returned to Purchaser in accordance with Section 1.6 hereof, and Purchaser and Seller shall have no further rights and obligations hereunder except those which expressly survive termination of this Agreement. For avoidance of doubt, if Purchaser fails to give Seller timely notice of termination on or before the Phase I Deadline, then Purchaser shall no longer have the right to terminate this Agreement under this Section 3.2 and (subject to any contrary provisions of this Agreement) shall be bound to proceed to Closing and consummate the tr...
Sample 1
Extension of Inspection Date. Buyer shall have the right and option to extend the Inspection Date through and including February 2, 2005, by (i) giving written notice (“First Extension Notice”) to Seller not later than January 3, 2005, and (ii) simultaneously sending to Escrow Agent the sum of Twenty-Five Thousand and No/100 Dollars ($25,000.00) (“First Extension Fee”). The First Extension Fee will constitute consideration payable to Seller for the first extension of the Inspection Date, and will be fully earned by Seller and non-refundable to Buyer when Buyer gives the First Extension Notice (except in the event of a default by Seller resulting in termination of this Agreement by Buyer). If, and only if, Closing actually occurs, the First Extension Fee will, if paid by Buyer, be applied as a credit against the Purchase Price at Closing. Otherwise, if this Agreement terminates prior to Closing for any reason other than a default by Seller, the First Extension Fee will, if paid by Buyer, be disbursed by Escrow Agent to Seller. If Buyer timely gives the First Extension Notice, Buyer shall have the further right and option to extend the Inspection Date through and including March 4, 2005, by (i) giving written notice (“Second Extension Notice”) to Seller not later than February 2, 2005, and (ii) simultaneously sending to Escrow Agent the sum of Fifty Thousand and No/100 Dollars ($50,000.00) (“Second Extension Fee”). The Second Extension Fee will constitute consideration payable to Seller for the second extension of the Inspection Date, and will be fully earned by Seller and non-refundable to Buyer when Buyer gives the Second Extension Notice (except in the event of a default by Seller resulting in termination of this Agreement by Buyer). If, and only if, Closing actually occurs, the Second Extension Fee will, if paid by Buyer, be applied as a credit against the Purchase Price at Closing. Otherwise, if this Agreement terminates prior to Closing for any reason other than a default by Seller, the Second Extension Fee will, if paid by Buyer, be disbursed by Escrow Agent to Seller. The First Extension Fee and the Second Extension Fee are sometimes referred to in this Agreement individually as an “Extension Fee” and collectively as the “Extension Fees”.
Sample 1

Related to Extension of Inspection Date

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • Visitation, Inspection, Etc The Borrower will, and will cause each of its Subsidiaries to, permit any representative of the Administrative Agent or any Lender, to visit and inspect its properties, to examine its books and records and to make copies and take extracts therefrom, and to discuss its affairs, finances and accounts with any of its officers and with its independent certified public accountants, all at such reasonable times and as often as the Administrative Agent or any Lender may reasonably request after reasonable prior notice to the Borrower.

  • Inspection of Agreement A copy of this Agreement shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent for inspection by the holder of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate for inspection by it.

  • Examination of Implementation 1. Without prejudice to the procedures set out in Article 188 (Compensation), once the period of time set out in paragraph 3 of Article 186 (Implementation of the Report) has expired, and there is disagreement between the disputing Parties as to the existence or consistency of the measures taken to comply with the Panel report, such dispute shall be referred to the original Panel wherever possible. If not possible, the procedure pursuant to Article 179 (Panel Selection) shall be followed to appoint a new Panel, in which event the periods set out thereof shall be reduced by half (22). 2. This Panel shall issue its report on the matter within 60 days after the date of the referral of the matter to it. When the Panel considers that it cannot provide its report within this timeframe, it shall inform the Parties in writing of the reasons for the delay together with an estimate of the period within which it will submit its report. Any delay shall not exceed a further period of 30 days unless the Parties otherwise agree.

  • Condition of Improvements The risk of destruction or substantial damage by fire or Act of God prior to delivery of deed is assumed by Seller. Xxxxxx agrees that on possession, the Real Estate shall be in the same condition as it is on the date of this contract, except for ordinary wear and tear. If the Real Estate should be damaged or destroyed by fire or other casualty and if, prior to Closing, the real Estate shall not be repaired or restored by and at the Sellers expense, to a condition as good as it was prior to the damage or destruction, then Purchaser, at his option, may terminate this contract by written notice to Seller and the Down Payment Shall be returned to Purchaser. While this contract is pending, Sellers shall not change any existing lease or enter into any new lease, nor make any substantial alterations or repairs without the consent of the Purchaser. In addition, the Purchaser also has an insurable interest in the property from date of this contract. Purchaser is hereby notified that insurance should be placed upon the property immediately to protect Purchasers’ interest.

  • Visitation and Inspection The Borrower will, and will cause each of its Subsidiaries to, permit any representative of the Administrative Agent or any Lender to visit and inspect its properties, to examine its books and records and to make copies and take extracts therefrom, and to discuss its affairs, finances and accounts with any of its officers and with its independent certified public accountants, all at such reasonable times as the Administrative Agent or any Lender may reasonably request after reasonable prior notice to the Borrower; provided that (a) so long as no Event of Default shall have occurred and be continuing, the Administrative Agent and the Lenders shall not make more than one (1) such visit and inspection in any Fiscal Year; (b) if an Event of Default has occurred and is continuing, no prior notice shall be required and the limitation on the number of visits and inspections shall no longer apply; (c) any such inspection and examination, copies and discussions shall not be permitted to the extent it would violate confidentiality agreements or result in a loss of attorney-client privilege or claim of attorney work product so long as the Borrower notifies the Administrative Agent of such limitation and the reason therefor; and (d) any such inspection and examination, copies and discussions shall be subject to the terms of any applicable Master Lease and the accompanying Collateral Access Agreement.

  • Evidence of Compliance with Conditions Precedent The Guarantor shall provide to the Guarantee Trustee such evidence of compliance with such conditions precedent, if any, provided for in this Guarantee Agreement that relate to any of the matters set forth in Section 314(c) of the Trust Indenture Act. Any certificate or opinion required to be given by an officer pursuant to Section 314(c)(1) may be given in the form of an Officers' Certificate.

  • Termination of Insurance A. Your policy will lapse if you do not pay your premium when due. B. We may cancel your policy by mailing written notice to you at your most recent address in our records. We will send you this notice ten (10) days before we cancel your policy. C. You may cancel your policy at any time by notifying us in writing. D. We will refund unearned premiums on a prorated basis if either you or we cancel your policy.

  • Tests and Inspections § 15.5.1 Tests, inspections and approvals of portions of the Work shall be made as required by the Design-Build Documents and by applicable laws, statutes, ordinances, codes, rules and regulations or lawful orders of public authorities. Unless otherwise provided, the Design-Builder shall make arrangements for such tests, inspections and approvals with an independent testing laboratory or entity acceptable to the Owner, or with the appropriate public authority, and shall bear all related costs of tests, inspections and approvals. The Design-Builder shall give the Owner timely notice of when and where tests and inspections are to be made so that the Owner may be present for such procedures. The Owner shall bear costs of (1) tests, inspections or approvals that do not become requirements until after bids are received or negotiations concluded, and (2) tests, inspections or approvals where building codes or applicable laws or regulations prohibit the Owner from delegating their cost to the Design-Builder. § 15.5.2 If the Owner determines that portions of the Work require additional testing, inspection or approval not included under Section 15.5.1, the Owner will instruct the Design-Builder to make arrangements for such additional testing, inspection or approval by an entity acceptable to the Owner, and the Design-Builder shall give timely notice to the Owner of when and where tests and inspections are to be made so that the Owner may be present for such procedures. Such costs, except as provided in Section 15.5.3, shall be at the Owner’s expense. § 15.5.3 If such procedures for testing, inspection or approval under Sections 15.5.1 and 15.5.2 reveal failure of the portions of the Work to comply with requirements established by the Design-Build Documents, all costs made necessary by such failure shall be at the Design-Builder’s expense. § 15.5.4 Required certificates of testing, inspection or approval shall, unless otherwise required by the Design-Build Documents, be secured by the Design-Builder and promptly delivered to the Owner. § 15.5.5 If the Owner is to observe tests, inspections or approvals required by the Design-Build Documents, the Owner will do so promptly and, where practicable, at the normal place of testing. § 15.5.6 Tests or inspections conducted pursuant to the Design-Build Documents shall be made promptly to avoid unreasonable delay in the Work.

  • Audit and Inspection 9.1 The Recipient, without charge, will permit any officer or officers of the Commissioner, external auditing bodies (i.

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