Financing Extension Sample Clauses

Financing Extension. Purchaser shall be entitled to extend the Closing Date, pursuant to the terms and conditions set forth in this Section 10.6. for four (4) consecutive periods of thirty (30) calendar days each (each, a “Financing Extension Period”), solely for the purpose of procuring its acquisition financing for the Property (the “Financing”); provided, however, that each such extension of the Closing Date shall be effective only upon: (a) Purchaser’s provision of written notice of such extension to the Seller prior to the then-scheduled Closing Date; and (b) Purchaser’s payment to Seller of the amount of Fifty Thousand and 00/100 Dollars ($50,000.00) prior to each such extension (each an “Extension Fee”); provided, however, that no such Extension Fee shall be due from Purchaser in connection with the first such extension of the Closing Date. Notwithstanding the foregoing, Purchaser’s right to extend the Closing Date pursuant to this Section 10.b. shall be limited solely to an event where Purchaser’s lender is then unable or unwilling to extend the Financing; it being agreed by Seller that, except as otherwise expressly set forth in this Agreement, all other contingencies to Closing, of every type or nature, shall be deemed completed and satisfied as of the Effective Date. Except as otherwise specifically set forth in this Agreement, all Extension Fees shall be treated as part of the Xxxxxxx Money for all purposes under this Agreement. Buyer hereby agrees to pursue the Financing in good faith and with all reasonable diligence. In the event that at any time Purchaser exercises its right to a Closing Date Extension pursuant to Section 10.a above, Purchaser shall only be entitled to exercise a total of three (3) Financing Extension Periods in addition to the Closing Date Extension.
Sample 1
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Financing Extension. The following provision is hereby added to the end of Section 5.3.5 of the Contract: “In the event that Purchaser extends the Inspection Date to 5:00 p.m. on October 23, 2007 in accordance with the terms set forth in the definition of “Inspection Date” hereof, Purchaser shall, on or before the expiration of the Inspection Date, deliver written notice to Seller: (a) that Purchaser desires to have an additional period of time in which to terminate in writing this Agreement for the sole purpose, and no other, of determining Purchaser’s ability to obtain a commitment or commitments for financing for the closing of the transactions contemplated in this Agreement, which additional period shall expire no later than 5:00 p.m. Eastern Time on November 12, 2007, and that Purchaser waives all other conditions to closing with regard to the purchase of the Interests except for financing, in which case the remaining Ninety Thousand Dollars ($90,000) of the Initial Deposit shall be immediately non-refundable to Purchaser and shall be delivered to Seller by Escrow Agent; or (b) that Purchaser elects to terminate this Agreement effective as of the October 23, 2007 Inspection Date. Failure by Purchaser to provide notice pursuant to either clause (a) or (b) above by 5:00 p.m. on October 23, 2007 shall be deemed a waiver of any breach by Seller of any covenant, representation or warranty of Seller hereunder which was disclosed during Purchaser’s Inspection Period or of which Purchaser has knowledge as of the expiration of the Inspection Period and Purchaser shall be obligated to Close on the transaction. In the event Purchaser delivers the notice in clause (a) above, if during the period commencing on October 24, 2007 and ending at 5:00 p.m. Eastern Time on November 12, 2007, Purchaser shall be unable to obtain a commitment or commitments for financing for the closing of the transactions contemplated in this Agreement, Purchaser may, as its sole remedy, terminate this Agreement by giving written notice thereof prior to the expiration of such period ending at 5:00 p.m. on November 12, 2007. Upon any such termination, neither Seller nor Purchaser shall have any further obligations or liabilities to the other hereunder, except as expressly provided herein. In the event Purchaser does not notify Seller prior to such time that it elects to terminate this Agreement, Purchaser shall be obligated to deliver to the Escrow Agent the Additional Deposit on November 12, 2007, which Additi...
Sample 1
Financing Extension. Section 5.3.5 ofthe Contract is hereby amended so that wherever the date “October 23, 2007” appears, it is replaced with the date “October 29, 2007.” The date on which the $90,000 remaining portion of the Initial Deposit shall become non-refundable to Purchaser, as set forth in Section 5.3.5 of the Contract, is also hereby extended from October 23, 2007 to October 29, 2007.
Sample 1

Related to Financing Extension

  • Modification, Extension The issuance of any supplement, modification, amendment, renewal, or extension to any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that Lender will have received on or before the day of such Advance or issuance of such Letter of Credit all of the following, each dated (unless otherwise indicated) the Closing Date, in form and substance satisfactory to Lender:

  • Lease Extension Lessee may request Lessor to extend the original Scheduled Expiration Date of each Lease Agreement for an additional period of three (3) years by appropriately completing, executing and delivering to Agent a written request in the form of Exhibit G(2), together with an attachment thereto setting forth the terms upon which Lessee would propose for the requested extension (a "Lease Extension Request"). Lessee shall deliver each Lease Extension Request to Agent not more than twelve (12) months and not less than nine (9) months before the original Scheduled Expiration Date. Agent shall promptly deliver to Lessor and each Participant three (3) copies of each Lease Extension Request received by Agent. If Lessor or a Participant, in its sole and absolute discretion, consents to a Lease Extension Request, such Person shall evidence such consent by executing and returning two (2) copies of such Lease Extension Request to Agent not later than the last Business Day which is not less than seven (7) months prior to the original Scheduled Expiration Date for the applicable Lease Agreement. Any failure by Lessor or any Participant so to execute and return a Lease Extension Request shall be deemed a denial thereof. If Lessee shall deliver a Lease Extension Request to Lessor pursuant to the first sentence of this Subparagraph 2.09(b), then not later than the last Business Day which is not less than six (6) months prior to the original Scheduled Expiration Date for the applicable Lease Agreement, Agent shall notify Lessee, Lessor and the Participants in writing whether (i) Agent has received a copy of the Lease Extension Request executed by Lessor and each Participant, in which case the definition of "Scheduled Expiration Date" set forth in Subparagraph 2.02(a) of the applicable Lease Agreement shall be deemed extended to the date which is three (3) years after the original Scheduled Expiration Date (subject to the receipt by Agent of any amounts payable by Lessee in connection with such extension), or (ii) Agent has not received a copy of the Lease Extension Request executed by Lessor and each Participant, in which case such Lease Extension Request shall be deemed denied. Lessee acknowledges that neither Lessor nor any Participant has promised (either expressly or implicitly), or has any obligation or commitment, to extend or consent to the extension of the Scheduled Expiration Date for either Lease Agreement at any time.

  • Interim Extension Amendment a. Prior to or on the expiration date of this Contract, the Parties agree that this Contract can be extended as provided under this Section. b. The System Agency will provide written notice of interim extension amendment to the Grantee under one of the following circumstances: 1. Continue provision of services in response to a disaster declared by the governor; or 2. To ensure that services to clients continue without interruption. c. The System Agency will provide written notice of the interim extension amendment that specifies the reason and length of time for the extension. d. Grantee will provide and invoice for services in the same manner as stated in the Contract. e. An interim extension under Section (b)(1) above will extend the term of the contract not longer than 30 days after governor's disaster declaration is declared unless the Parties agree to a shorter period of time. f. An interim extension under Section (b)(2) above will be a one-time extension for time determined by the System Agency.

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

  • Conditions to Initial Extension of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • Conditions Precedent to Initial Extension of Credit Before the first extension of credit under this agreement, whether by disbursement of a loan, issuance of a letter of credit, the funding of a Lease or otherwise, the Borrower shall deliver to the Bank, in form and substance satisfactory to the Bank:

  • Amendment; Extension; Waiver (a) This Agreement may be amended by the parties hereto at any time prior to the Offer Closing Time. At any time prior to the Offer Closing Time, the parties hereto may (i) extend the time for the performance of any of the obligations or other acts of the other parties hereto, (ii) waive any inaccuracies in the representations and warranties contained in this Agreement or in any document delivered pursuant to this Agreement or (iii) waive compliance with any of the agreements or conditions contained in this Agreement (subject to Section 2.01). This Agreement may not be amended or supplemented after the Offer Closing Time. (b) This Agreement may not be amended except by an instrument in writing signed on behalf of each of the parties hereto. Any agreement on the part of a party hereto to any extension or waiver with respect to this Agreement shall be valid only if set forth in an instrument in writing signed on behalf of such party. The failure of any party hereto to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights.

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