Montreal Sale. The closing of the sale of both Montreal properties. If the Transaction Date occurs on or before September 1, 2015, the Transaction Bonus will be $500,000. If the Transaction Date occurs after September 1, 2015, the following Transaction Bonus is payable for this Transaction: by September 30, 2015 - $350,000; by November 30, 2015 - $300,000; by January 31, 2016 - $255,000. No bonus shall be payable for this Transaction unless (1) the net cash consideration received by the Company is an amount at which the CEO determines to constitute extraordinary efforts by Employee and (2) the current obligations to the Company’s lenders to the Montreal properties is fully assumed or extinguished by the buyer.
Montreal Sale. From any after the date of this Agreement, upon the terms and subject to the conditions set forth in this Agreement, the Company agrees to use its reasonable best efforts to take, or cause to be taken, all actions, and to do, or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or advisable to, in the most commercially reasonable manner practicable, effectuate the (i) sale of the Montreal Properties or the Montreal Interests, as applicable, and (ii) satisfaction and discharge of the Montreal Guaranty, in each instance, prior to the Effective Time.
