Purchaser's Covenants Regarding Assumption Sample Clauses

Purchaser's Covenants Regarding Assumption. If Purchaser elects to attempt to assume the Existing Financing as provided in Paragraph 11a, then Purchaser represents and warrants to Seller that Purchaser has a reasonable good faith belief that the assumption of the Existing Indebtedness as described in paragraph 11a. is available to Purchaser and that Purchaser qualifies therefore. In that connection, Purchaser covenants with Seller that Purchaser will use commercially reasonable efforts to obtain such assumption, including submitting an application (in writing) with all supporting materials not later than the fourteenth (14th) day after the Contract Date and diligently pursuing such application once it has been filed. Purchaser agrees to provide to Seller a copy of its application, as filed, within three (3) business days of the filing, together with the name of a contact party at GECC from whom Seller can obtain periodic status updates on the progress of Purchaser's application. Purchaser will provide Seller with copies by facsimile, within one business day of receipt by Purchaser, of all correspondence received by Purchaser in connection with its assumption application. Purchaser's loan application requires a hearing or presentation before any commission or other public body, Purchaser shall give written notice to Seller of the date and time of such hearing or presentation, as soon as practical after the scheduling, such that Seller may attend.
Sample 1
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Related to Purchaser's Covenants Regarding Assumption

  • Purchaser’s Covenants The Purchaser will have performed and complied with all covenants, agreements and conditions as required by this Agreement.

  • Seller’s Covenants Seller hereby covenants and agrees with HARC as follows:

  • Buyer’s Covenants Buyer hereby covenants as follows:

  • Covenants of Buyer Prior to Closing Date Between the date of this Agreement and the Closing Date, Buyer will use its Best Efforts to cause the conditions in Section 8 to be satisfied.

  • Covenants regarding Party C Party B (as a shareholder of Party C) and Party C hereby covenant as follows:

  • Covenants of Seller Prior to Closing Between the date of this Agreement and the Closing:

  • REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER Seller and Purchaser hereby represent and warrant that there has been no act or omission by Seller, Purchaser or the Corporation which would give rise to any valid claim against any of the parties hereto for a brokerage commission, finder's fee, or other like payment in connection with the transactions contemplated hereby.

  • REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PURCHASER 4.1 To induce Purchaser to enter into this Agreement, Seller hereby makes for the benefit of Purchaser and its assigns with respect to each Mortgage Loan as of the date hereof (or as of such other date specifically set forth in the particular representation and warranty) each of the representations and warranties set forth on Exhibit 2 hereto, except as otherwise set forth on Schedule 2-A attached to such Exhibit 2. In addition, Seller hereby further represents, warrants and covenants to Purchaser as of the date hereof as follows:

  • Survival of Seller’s Representations and Warranties The representation and warranty of Seller set forth in Section 5.1(a) shall survive Closing and shall be a continuing representation and warranty without limitation. All other representations and warranties of Seller set forth in Section 5.1, shall survive Closing for a period of one hundred eighty (180) days. No claim for a breach of any representation or warranty of Seller shall be actionable or payable (a) if the breach in question results from or is based on a condition, state of facts or other matter which was known to Purchaser prior to Closing, (b) unless the valid claims for all such breaches collectively aggregate more than Twenty Five Thousand Dollars ($25,000) (the "Floor"), in which event the full amount of such valid claims shall be actionable up to the cap set forth in the following sentence, and (c) unless written notice containing a description of the specific nature of such breach shall have been given by Purchaser to Seller prior to the expiration of said one hundred eighty (180) day period and an action shall have been commenced by Purchaser against Seller within two hundred twenty (220) days of Closing. Further Purchaser agrees that any recovery against Seller for any breach of Seller's covenants, agreements, representations and warranties hereunder or under any other agreement, document, certificate or instrument delivered by Seller to Purchaser, or under any law applicable to the Property or this transaction, shall be limited to Purchaser's actual damages not in excess of One Million and 00/100 Dollars ($1,000,000) in the aggregate and that in no event shall Purchaser be entitled to seek or obtain any other damages of any kind, including, without limitation, consequential, indirect or punitive damages. Notwithstanding anything to the contrary in the foregoing, the Floor and the cap will not apply to actual damages incurred by Purchaser to the extent such damage was caused by Seller's fraud.

  • Accuracy of Each Purchaser’s Representations and Warranties The representations and warranties of each Purchaser shall be true and correct in all material respects as of the date when made and as of the Closing Date as though made at that time, except for representations and warranties that are expressly made as of a particular date, which shall be true and correct in all material respects as of such date.

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