Science Park Agreement Sample Clauses

Science Park Agreement. Purchaser and Seller hereby acknowledge and agree that (a) Purchaser and certain affiliates of Seller have this day entered into the Science Park Purchase and Sale Agreement with respect to the Science Park Property, (b) it shall be a condition precedent to the Closing hereunder that Purchaser and Seller close the purchase and sale of the Science Park Property pursuant to the Science Park Purchase and Sale Agreement concurrently herewith, (c) it shall be a condition precedent to the closing of the purchase and sale of the Science Park Property under the Science Park Purchase and Sale Agreement that the Closing hereunder shall have occurred concurrently therewith, (d) in the event that either the Closing or the Closing Date hereunder or the closing or the closing date under the Science Park Purchase and Sale Agreement is adjourned or extended, the other automatically shall be so adjourned or extended, (e) in the event that this Agreement or the Science Park Purchase and Sale Agreement is terminated, the other automatically shall be terminated (and if both agreements are so terminated due to a termination by Purchaser pursuant to Section 5.2 of either such agreement, then the Non-Refundable Deposit shall promptly be paid to Seller pursuant to Section 5.2(c) of this Agreement), (f) a default by Purchaser under this Agreement or the Science Park Purchase and Sale Agreement shall be considered a default by Purchaser under both such agreements (subject to all applicable remedies under each such agreement) and (g) a default by Seller under this Agreement or such affiliates of Seller under the Science Park Agreement shall be considered a default by Seller and such affiliates of Seller (as applicable) under both such agreements (subject to all applicable remedies under each such agreement). Notwithstanding the foregoing, Seller, in Seller’s sole and absolute discretion, may elect to waive the conditions set forth in clause (b) above by providing written notice of such election to Purchaser, such that the Closing may occur hereunder without the closing of the purchase and sale of the Science Park Property pursuant to the Science Park Purchase and Sale Agreement, but in no event shall this Section 6.5 ever be construed to allow Seller to waive any closing condition in its favor such that Purchaser is required to close under the Science Park Purchase and Sale Agreement but is not permitted to close under this Agreement.
Sample 1
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Related to Science Park Agreement

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  • Arrangement Agreement This Plan of Arrangement is made pursuant to the Arrangement Agreement.

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