Common use of Tax Deferred Exchange Clause in Contracts

Tax Deferred Exchange. A. In the event either party elects to utilize this transaction as part of an exchange of like-kind properties under Internal Revenue Code Sec. 1031 and the regulations promulgated thereunder, each party agrees, provided there is no additional cost or expense to the other, to provide reasonable and appropriate cooperation to assist in facilitating such an exchange; provided however, that nothing contained in this Section shall affect any of the parties’ responsibilities or otherwise extend any timelines relating to the Closing and both parties agree to cooperate to effect such exchange, at no cost to the other party. B. Either party may assign this Contract to a Qualified Intermediary for completion of a deferred exchange.

Tax Deferred Exchange. A. In the event either party elects to utilize this transaction as part of an exchange of like-kind properties under Internal Revenue Code Sec. Section 1031 and the regulations promulgated thereunder, each party agrees, provided there is no additional cost or expense to the other, to provide reasonable and appropriate cooperation to assist in facilitating such an exchange; provided however, that nothing contained in this Section shall affect any of the parties’ responsibilities or otherwise extend any timelines relating to the Closing closing and both parties agree to cooperate to effect such exchange, at no as not cost to the other party. B. . Either party may assign this Contract Agreement to a Qualified Intermediary for completion of a deferred exchange.