Common use of Failure of Exchange Parcels to Close Clause in Contracts

Failure of Exchange Parcels to Close. At any time upon the request of the Seller, the Purchaser shall assign any Exchange Contract to the Seller (without representation or warranty other than that the Purchaser has not created any liens or encumbrances thereon, such assignment to be made on the date specified in the Seller's notice (but not less than 3 days after the giving of such notice). The Purchaser shall have a unilateral right to assign any Exchange Contracts to the Seller at any time after the date 181 days after the Closing Date.

Appears in 2 contracts

Samples: Purchase Agreement, Purchase Agreement

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Failure of Exchange Parcels to Close. At any time upon the ------------------------------------ request of the Seller, the Purchaser shall assign any Exchange Contract to the Seller (without representation or warranty other than that the Purchaser has not created any liens or encumbrances thereon, such assignment to be made on the date specified in the Seller's notice (but not less than 3 days after the giving of such notice). The Purchaser shall have a unilateral right to assign any Exchange Contracts to the Seller at any time after the date 181 one hundred eighty- one (181) days after the Closing Date.

Appears in 1 contract

Samples: Purchase, Sale and Exchange Agreement (Hospitality Properties Trust)

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Failure of Exchange Parcels to Close. At any time upon the request ------------------------------------ of the Seller, the Purchaser shall assign any Exchange Contract to the Seller (without representation or warranty other than that the Purchaser has not created any liens or encumbrances thereon, such assignment to be made on the date specified in the Seller's notice (but not less than 3 days after the giving of such notice). The Purchaser shall have a unilateral right to assign any Exchange Contracts to the Seller at any time after the date 181 one hundred eighty- one (181) days after the Closing Date.

Appears in 1 contract

Samples: Purchase Sale and Option Agreement (Hospitality Properties Trust)

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