One University’s Equity Partner Sample Clauses

One University’s Equity Partner. One University shall promptly commence and use commercially reasonable efforts to secure an equity partner for its development of the Ground Lease Premises on or before the date that is 270 days after the Effective Date (the “Equity Partner Outside Date”). Promptly after the request of the FCRHA, One University shall provide the FCRHA with periodic updates with regard to its efforts in securing an equity partner. If One University shall have promptly commenced and used commercially reasonable efforts to secure an equity partner for the Project, then if One University shall not have secured an equity partner for its development of the Ground Lease Premises on or before the Equity Partner Outside Date, One University may, by notice delivered to the FCRHA on or prior to the Equity Partner Outside Date, terminate this Agreement, and except as otherwise expressly set forth in this Agreement, neither the FCRHA nor One University shall have any further liability hereunder. If One University does not timely and properly deliver to the FCRHA notice of One University’s election to terminate this Agreement under this Section 6.3 prior to the Equity Partner Outside Date, then One University shall deemed to have waived its right to terminate this Agreement under this Section 6.3 and this Section 6.3 shall thereafter be null, void and of no further force and effect.
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