Common use of Permitting Period Clause in Contracts

Permitting Period. During the Permitting Period, Purchaser shall be solely responsible, financially and otherwise, for obtaining such planning, rezoning, or PUD approvals as necessary from the City of Mobile or its subsidiaries, to allow development of its intended use. The intended use is: and the required approvals and/or rezoning are: (i) Mobile City Planning Commission and Mobile City Council, (ii) rezoning to (or whatever zone is determined by the aforementioned entities to be applicable) and . In connection with obtaining zoning approval and plan approval, Purchaser agrees to file for rezoning and/or planning approval within ten (10) days following the Effective Date. Purchaser shall obtain such approvals on or before the expiration of the time period ending sixty (60) days following the execution of this Agreement. In the event Purchaser does not obtain the aforementioned necessary approvals within sixty (60) days following the execution of this Agreement then Seller may elect to terminate this Agreement by delivery of written notice to Purchaser and Escrow Agent. Unless Purchaser and Escrow Agent receive express written instructions from Seller on or before the expiration of the Permitting Period that it is exercising its right to terminate the Agreement, Seller shall be deemed to have not terminated this Agreement. If Seller does give such notice of termination, the Escrow Agent shall refund the Xxxxxxx Money to Purchaser. The parties hereunder shall have no further rights, duties or obligations under this Agreement, except for such rights, duties or obligations as are expressly stated herein to survive a termination of this Agreement.

Permitting Period. During the Permitting Period, Purchaser shall be solely responsible, financially and otherwise, for obtaining such planning, rezoning, or PUD approvals as necessary from the City of Mobile or its subsidiaries, to allow development of its intended use. The intended use is: and the required approvals and/or rezoning are: (i) Mobile City Planning Commission and Mobile City Council, (ii) rezoning to (or whatever zone is determined by the aforementioned entities to be applicable) and . In connection with obtaining zoning approval and plan approval, Purchaser Xxxxxxxxx agrees to file for rezoning and/or planning approval within ten (10) days following the Effective Date. Purchaser shall obtain such approvals on or before the expiration of the time period ending sixty (60) days following the execution of this Agreement. In the event Purchaser does not obtain the aforementioned necessary approvals within sixty (60) days following the execution of this Agreement then Seller may elect to terminate this Agreement by delivery of written notice to Purchaser and Escrow Agent. Unless Purchaser and Escrow Agent receive express written instructions from Seller on or before the expiration of the Permitting Period that it is exercising its right to terminate the Agreement, Seller shall be deemed to have not terminated this Agreement. If Seller does give such notice of termination, the Escrow Agent shall refund the Xxxxxxx Money to Purchaser. The parties hereunder shall have no further rights, duties or obligations under this Agreement, except for such rights, duties or obligations as are expressly stated herein to survive a termination of this Agreement.

Permitting Period. During Purchaser may apply for and pursue all private approvals and easements required from third parties and all unappealable approvals and permits and governmental authorizations deemed necessary or appropriate by Purchaser for the Permitting Periodaccess to, and development and operation of, the Property as intended by Purchaser, including Purchaser’s receipt of all necessary serviceability and design approvals for rail service at the Property (collectively, including third party approvals, the "Permits"). Seller will cooperate with Purchaser, at no expense to Seller, in applying for, pursuing and obtaining the Permits. If Purchaser shall be solely responsible, financially and otherwise, for obtaining such planning, rezoning, or PUD approvals as necessary from does not obtain the City of Mobile or its subsidiaries, to allow development of its intended use. The intended use is: and the required approvals and/or rezoning are: (i) Mobile City Planning Commission and Mobile City Council, (ii) rezoning to (or whatever zone is determined by the aforementioned entities to be applicable) and . In connection with obtaining zoning approval and plan approval, Purchaser agrees to file for rezoning and/or planning approval within ten (10) days following the Effective Date. Purchaser shall obtain such approvals Permits on or before the period expiring one hundred twenty (120) days after the expiration of the time Inspection Period (the “Permitting Period”), then Purchaser shall have the option to (i) extend the Permitting Period for a period ending of sixty (60) days following the execution of this Agreement. In the event Purchaser does not obtain the aforementioned necessary approvals within sixty (60) days following the execution of this Agreement then Seller may elect to terminate this Agreement by delivery of written notice to Purchaser and Escrow Agent. Unless Purchaser and Escrow Agent receive express written instructions from Seller on or before prior to the expiration of the Permitting Period that it is exercising its right (the “Permit Extension Option”), or (ii) terminate this Contract, in which event all Xxxxxxx Money will be returned to terminate Purchaser (less the AgreementIndependent Consideration, Seller shall which will be deemed paid to have not terminated Seller), and thereafter this AgreementContract will be of no further force or effect. If Seller does give such notice of terminationPurchaser exercises the Permit Extension Option, the Escrow Agent shall refund the Xxxxxxx Money to Purchaser. The parties hereunder shall have no further rightsbe non-refundable, duties except in the event of Seller’s breach or obligations default under this AgreementContract, except for such rightsor if Purchaser fails to obtain the Permits during the Permit Period, duties or obligations as are expressly stated herein to survive a termination of this Agreementextended.