Funds for Purchase Sample Clauses

Funds for Purchase. The requirements of this Section A shall only apply if Seller requires Buyer to comply with them. (1) Within 10 calendar days after the date Buyer signs this Agreement, Buyer shall submit to a financial institution designated by Seller ("Qualification Agent") an application for a qualification letter, together with such additional information and documents as Qualification Agent shall require or deem necessary or appropriate to confirm in a letter addressed to both Seller and Buyer (a) that Buyer has the ability to pay the Total Purchase Price from Buyer's own funds, or (b) that Buyer has the ability to obtain a mortgage loan in an amount at least equal to the portion of the Total Purchase Price to be paid by mortgage loan proceeds and to pay the balance from Xxxxx's own funds (the "Qualification Letter"). Such information and documents may include Xxxxx's financial statement(s), tax returns, deposit and income verifications, and such other information and documents as Seller or Qualification Agent may reasonably require. Buyer shall pay any and all processing or other fees or charges associated with the issuance of the Qualification Letter. If the Qualification Letter is issued more than 120 calendar days prior to the scheduled Closing Date, then Buyer may be required to reconfirm and re-verify certain information prior to the scheduled Closing Date. (2) Within 30 days after the date Buyer signs this Agreement, Buyer shall obtain and deliver the Qualification Letter to Seller. If Buyer does not obtain and deliver the Qualification Letter to the Seller within such 30-day period, then either Seller or Buyer shall have the right to cancel this Agreement PRIOR TO THE DATE THAT IS 90 DAYS AFTER BUYER SIGNS THIS AGREEMENT. If neither Seller nor Buyer cancels this Agreement prior to the end of the 90- day period, then Buyer will be deemed to have waived the financing contingency and will be obligated to purchase the Property on the terms set forth in this Agreement, whether or not the Buyer was able to obtain the Qualification Letter or is able to obtain a loan for Xxxxx's purchase of the Property. If Buyer does not terminate this Agreement as provided in this subsection (2) and if Buyer fails to close the purchase of the Property pursuant to this Agreement or otherwise fails to perform under this Section A, whether for failure to qualify for financing or for any other reason, then the default provision in Article IV, Section E.1(b) of this Agreement shall apply...
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Funds for Purchase. In the event that Trustee has elected to purchase shares pursuant to (bb) above, Trustee shall notify each of the non-selling Shareholders of such election as soon as is practicable. Each non-selling Shareholder shall have the right to purchase such Shares in an amount proportionate to the number of Shares held under this Agreement owned by such Shareholder, and any such Shares shall be held pursuant to this Agreement.
Sample 1
Funds for Purchase. The requirements of this Section A shall only apply if Seller requires Buyer to comply with them. (1) Within five calendar days after the date Buyer signs this Agreement, Buyer shall submit to a financial institution designated by Seller ("Qualification Agent") an application for a qualification letter, together with such additional information and documents as Qualification Agent shall require or deem necessary or appropriate to confirm in a letter addressed to both Seller and Buyer (a) that Buyer has the ability to pay the Total Purchase Price from Buyer's own funds, or (b) that Buyer has the ability to obtain a mortgage loan in an amount at least equal to the portion of the Total Purchase Price to be paid by mortgage loan proceeds and to pay the balance from Xxxxx's own funds (the "Qualification Letter"). Such information and documents may include Xxxxx's financial statement(s), tax returns, deposit and income verifications, and such other information and documents as Seller or Qualification Agent may reasonably require. Buyer shall pay any and all processing or other fees or charges associated with the issuance of the Qualification Letter. If the Qualification Letter is issued more than 120 calendar days prior to the scheduled Closing Date, then Buyer may be required to reconfirm and re-verify certain information prior to the scheduled Closing Date. (2) Within 10 days after the date Buyer signs this Agreement, Buyer shall obtain and deliver the Qualification Letter to Seller. If Buyer does not obtain and deliver the Qualification Letter to the Seller within such 10-day period, then Buyer shall have the right to cancel this Agreement PRIOR TO THE DATE THAT IS 30 DAYS AFTER BUYER SIGNS THIS AGREEMENT. If Buyer does not cancel this Agreement prior to the end of the 30-day period, then Buyer will be deemed to have waived the financing contingency and will be obligated to purchase the Lot on the terms set forth in this Agreement, whether or not the Buyer was able to obtain the Qualification Letter or is able to obtain a loan for Xxxxx's purchase of the Lot. If Buyer does not terminate this Agreement as provided in this subsection (2) and if Buyer fails to close the purchase of the Lot pursuant to this Agreement or otherwise fails to perform under this Section A, whether for failure to qualify for financing or for any other reason, then the default provision in Article IV, Section E.1(b) of this Agreement shall apply, Buyer’s deposits will be subject to forf...
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Funds for Purchase. WAIOHA II
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Funds for Purchase 
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Related to Funds for Purchase

  • Deposit of Fundamental Change Repurchase Price (a) The Company will deposit with the Trustee (or other Paying Agent appointed by the Company, or if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04) on or prior to 11:00 a.m., New York City time, on the Fundamental Change Repurchase Date an amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate Fundamental Change Repurchase Price. Subject to receipt of funds and/or Notes by the Trustee (or other Paying Agent appointed by the Company), payment for Notes surrendered for repurchase (and not withdrawn prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date) will be made on the later of (i) the Fundamental Change Repurchase Date (provided the Holder has satisfied the conditions in Section 15.02) and (ii) the time of book-entry transfer or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof in the manner required by Section 15.02 by mailing checks for the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Note Register; provided, however, that payments to the Depositary shall be made by wire transfer of immediately available funds to the account of the Depositary or its nominee. The Trustee shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Fundamental Change Repurchase Price. (b) If by 11:00 a.m. New York City time, on the Fundamental Change Repurchase Date, the Trustee (or other Paying Agent appointed by the Company) holds money sufficient to make payment on all the Notes or portions thereof that are to be repurchased on such Fundamental Change Repurchase Date, then, with respect to the Notes that have been properly surrendered for repurchase and have not been validly withdrawn, (i) such Notes will cease to be outstanding, (ii) interest will cease to accrue on such Notes (whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Trustee or Paying Agent) and (iii) all other rights of the Holders of such Notes will terminate (other than the right to receive the Fundamental Change Repurchase Price and, if applicable, accrued and unpaid interest). (c) Upon surrender of a Note that is to be repurchased in part pursuant to Section 15.02, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to the unrepurchased portion of the Note surrendered.

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