Pre-sale Requirement Sample Clauses

Pre-sale Requirement. The Pre-sale Requirement must remain satisfied throughout the Loan Term.
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Pre-sale Requirement. True and correct copies of Unit Sales Contracts which provide for the sale of Units for an aggregate gross sales price (for all Units under such Unit Sales Contracts) of at least $31,752,000; provided, however, that only Unit Sales Contracts that have not been terminated but are in full force and effect with no existing defaults by Borrower or the Unit Purchaser thereunder shall be considered for purposes of determining whether the foregoing requirement has been satisfied. EXHIBIT “F” ADVANCES
Sample 1
Pre-sale Requirement. Qualified Purchase Contracts providing not less than the Minimum Loan Coverage Ratio.
Sample 1
Pre-sale Requirement. 6.1 If by March 1, 2006, Seller has not entered into binding purchase and sale agreements with purchasers for at least fifty percent (50%) of the Units (the “Pre-Sale Requirement”), Seller may terminate this Agreement by written notice to Purchaser, in which event, Escrow Agent shall return the Deposit to Purchaser and Seller shall pay to Purchaser all costs and expenses incurred by Purchaser in connection with the purchase of the Hotel Unit (other than attorney fees), pre-opening and marketing costs and expenses and other costs incurred by Purchaser in connection with the Hotel Condominium including, without limitation, the costs of obtaining and terminating the License Agreement (collectively, the “Purchaser’s Costs”) and the parties shall be released from all further obligations under this Agreement except for the obligations that survive termination.
Sample 1
Pre-sale Requirement. Seller contemplates constructing 12 units for the project within which the Unit is located (“Project”). If Seller has been unable to obtain purchase contracts for at least four units in the Project within one hundred eighty (180) days from the date the first purchaser signs a purchase agreement for a unit within the Project, Seller may unilaterally terminate this Agreement by delivery of written notice to me and, upon delivery of such notice and refunding to me all Deposits actually submitted by me in accordance with the terms of this Agreement, including any and all accrued interest thereon, Seller shall have fulfilled all of Seller's obligations to me under this Agreement and this Agreement shall automatically be terminated and I, Seller and Escrow Agent shall be released from any and all duties, liabilities and obligations to the other hereunder. However, nothing contained in this paragraph shall be construed to extend the two (2) year period for completion of construction of the Unit described herein. Nothing herein contained shall be construed or so operate in a manner inconsistent with 24 CFR §1710.5.
Sample 1

Related to Pre-sale Requirement

  • Notice Requirement No termination of this Agreement shall be effective unless and until the party terminating this Agreement gives prior written notice to all other parties of its intent to terminate, which notice shall set forth the basis for the termination. Furthermore,

  • Escrow Requirement Unless, (a) at the origination of a Mortgage Loan the Borrower is not required to make Escrow Item payments thereafter, (b) Escrow Funds collection has been waived pursuant to Section 10.5.1 hereof, or (c) the collection of Escrow Funds is precluded by applicable law, the Servicer must continue to collect 1/12th of the annual total for all Escrow Items with each Monthly Payment on such Mortgage Loan, as determined pursuant to Section 10.3.1 hereof.

  • Release Requirement Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

  • Satisfaction Requirement If any agreement, certificate or other writing, or any action taken or to be taken, is by the terms of this Agreement required to be satisfactory to any Purchaser, to any holder of Notes or to the Required Holder(s), the determination of such satisfaction shall be made by such Purchaser, such holder or the Required Holder(s), as the case may be, in the sole and exclusive judgment (exercised in good faith) of the Person or Persons making such determination.

  • Notification Requirement Through and up to the conclusion of the Non-Competition Period, Executive shall give notice to the Company of each new business activity he plans to undertake, at least seven (7) days prior to beginning any such activity. Such notice shall state the name and address of the Person for whom such activity is undertaken and the nature of Executive’s business relationship(s) and position(s) with such Person.

  • Service Requirement Except as otherwise provided in Section 6(e) of the Plan or Section 2 of this Agreement, this Option may be exercised only while you continue to provide Service to the Company or any Affiliate, and only if you have continuously provided such Service since the Grant Date of this Option.

  • Construction Requirements a) All Life and Safety and applicable Building Codes will be strictly enforced (i.e., tempered glass, fire dampers, exit signs, smoke detectors, alarms, etc.). Prior coordination with the Building Manager is required.

  • Disclosure Requirement In connection with an Assumption of an assumable Mortgage Loan, the Servicer shall make all disclosures required by applicable law.

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