Common use of Release Date Clause in Contracts

Release Date. Developer will determine the Release Date in Developer’s sole discretion depending in several factors including the status of construction. On the Release Date, Developer will inform Reservation Holder of the purchase price for the Home and Reservation Holder shall have seven (7) days from the Release Date to execute the Purchase Agreement for the Home and to deposit the balance of the xxxxxxx money due under the Purchase Agreement (the “Xxxxxxx Money Deposit”) after application of the Deposit. Reservation Holder, Broker or the Selling Broker shall deliver the Xxxxxxx Money Deposit to Escrow Agent and Escrow Agent shall hold the Xxxxxxx Money Deposit in accordance with the Purchase Agreement. Reservation Holder shall constantly update Developer’s Broker identified below of any changes in Reservation Holder’s contact information and it shall be Reservation Holder’s sole responsibility to remain available to receive Developer’s notice of the Release Date via such contact information. Developer and its Broker have no responsibility in that regard other than to deliver notice of the Release Date to Reservation Holder via such contact information.

Release Date. Developer will determine the Release Date in Developer’s sole discretion depending in on several factors including the status of construction. On the Release Date, Developer will inform Reservation Holder of the purchase price for the Home Unit and Reservation Holder shall have seven (7) days from the Release Date to execute the Purchase Agreement for the Home Unit and to deposit the balance of the xxxxxxx money due under the Purchase Agreement (the “Xxxxxxx Money Deposit”) after application of the Deposit. Reservation Holder, Broker or the Selling Broker shall deliver the Xxxxxxx Money Deposit to Escrow Agent and Escrow Agent shall hold the Xxxxxxx Money Deposit in accordance with the Purchase Agreement. Reservation Holder shall constantly immediately update Developer’s Broker identified below of any changes in Reservation Holder’s contact information information, and it shall be Reservation Holder’s sole responsibility to remain available to receive Developer’s notice of the Release Date via such contact information. Developer and its Broker have no responsibility in that regard to contact Reservation Holder at any address other than to deliver notice of the Release Date to Reservation Holder via such at the current address in the contact informationinformation provided to Developer.