Common use of OBJECTION; RIGHT TO CURE Clause in Contracts

OBJECTION; RIGHT TO CURE. Buyer shall have until the earlier of (i) the Closing Date, and (ii) ten (10) days after receiving the Survey to approve or reject the matters set forth thereon. If Buyer rejects the Survey, it shall give Sellers notice thereof within ten (10) days after receiving the Survey, and if within fifteen (15) days after receiving such notice, Sellers do not cure to Buyer's reasonable satisfaction, or commence to cure for items reasonably requiring more than 15 days to cure, the objection to the Survey, then Buyer may, in its sole discretion, terminate this Agreement under Section 13.1.a. hereof by giving notice thereof to Sellers within two (2) Business Days after the end of such cure period. In the event the timing of the cure procedure set forth in this subsection conflicts with the Closing Date, in that Sellers cannot reasonably cure the objection to the Survey within the period provided, but are making diligent efforts toward that end, the Closing Date shall be automatically extended by a reasonable number of days to permit Sellers to complete their cure of Buyer's objection to the Survey. Buyer shall be deemed to have accepted the matters set forth on the Survey to the extent Buyer does not object thereto within the period provided herein for making such objections.

Appears in 2 contracts

Samples: Rheem Valley Asset Purchase Agreement (Paracelsus Healthcare Corp), Asset Purchase Agreement (Paracelsus Healthcare Corp)

AutoNDA by SimpleDocs

OBJECTION; RIGHT TO CURE. Buyer shall have until the earlier of (i) the Closing Date, and (ii) ten (10) days after receiving the Survey Title Commitment to either approve or reject the matters set forth thereontitle to the Real Property. If Buyer rejects title to any portion of the SurveyReal Property, it shall give Sellers notice thereof within ten (10) days after receiving the SurveyTitle Commitment and, and if within fifteen (15) days after receiving such notice, Sellers do not cure to Buyer's reasonable satisfactioncure, or commence to cure for items reasonably requiring more than 15 days to cure, the objection to the Surveytitle objection, then Buyer may, in its sole discretion, terminate this Agreement under Section 13.1.a. hereof by giving notice thereof to Sellers within two (2) Business Days after the end of such cure period. In the event the timing of the cure procedure set forth in this subsection conflicts with the Closing Date, in that Sellers cannot reasonably cure the title objection to the Survey within the period provided, but are making diligent efforts toward that end, the Closing Date shall be automatically extended by a reasonable number of days to permit Sellers to complete their cure of Buyer's objection to the Surveytitle objection. Buyer shall be deemed to have accepted the matters Any title item set forth on the Survey to the extent Title Commitment which Buyer does not object thereto to in writing within the period provided herein for making such objectionsobjections is deemed to be approved.

Appears in 2 contracts

Samples: Rheem Valley Asset Purchase Agreement (Paracelsus Healthcare Corp), Asset Purchase Agreement (Paracelsus Healthcare Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.