Term of Study Period Sample Clauses

Term of Study Period. The term "STUDY PERIOD" shall mean the period commencing on the Effective Date and ending at 5:00 p.m. (Eastern Standard Time) on the date that is thirty (30) days from the Effective Date (the "STUDY PERIOD EXPIRATION DATE"). During the Study Period, and subject to the provisions of this Article III, the Company may conduct such reasonable due diligence activities, inspections and studies of the Property as it deems necessary or appropriate, and may examine and investigate all facts, circumstances and matters relating to the Property relevant to its purchase thereof, including, without limitation, the condition of the Land and Improvements, title, survey matters and any other matters it deems necessary or appropriate for purposes of consummating the transaction contemplated by this Agreement. All such due diligence activities are sometimes referred to herein as the "DUE DILIGENCE". If, prior to the Study Period Expiration Date, the Company has not received all of the third party reports that the Company determines are necessary in connection with its due diligence ("THIRD PARTY REPORTS"), including but not limited to the Commitment, Survey (as such terms are hereinafter defined), phase I environmental assessment, appraisal, property condition assessment/engineering report and zoning report, then the Company shall have a one time right to extend the Study Period Expiration Date for an additional fifteen (15) days by written notice delivered by the Company to Owner and the Title Company on or prior to the then current Study Period Expiration Date, provided that such notice sets forth a description of the Third Party Reports that have not yet been received by the Company. In no event, however, shall the Study Period Expiration Date be later than forty-five (45) days from (and including) the Effective Date. The Company's right, during any period for which the Study Period is so extended, to terminate this Agreement as hereinafter provided in this Section 3.2 may only be exercised as a result of the Company's dissatisfaction (in its sole discretion) with the Third Party Report(s) that gave rise to the need for the extension of the Study Period Expiration Date. If on or before the Study Period Expiration Date, the Company, in its sole and absolute discretion, shall elect not to proceed to the Closing for any reason or for no reason, then the Company shall have the right to terminate this Agreement by giving written notice of termination to Owner and the Title Co...
Sample 1Sample 2
AutoNDA by SimpleDocs
Term of Study Period. The term “Study Period” shall mean the period commencing on the Effective Date and ending at midnight on August 24, 2001. If on or before the expiration of the Study Period, the Partnership, in its sole and absolute discretion, shall elect not to proceed to the Closing for any reason whatsoever, then the Partnership shall have the right to (x) terminate this Agreement by giving written notice of termination to Owner on or before the expiration of the Study Period, whereupon this Agreement shall automatically terminate, the Deposit shall be returned to the Partnership, and neither party shall have any further rights or obligations under this Agreement, except as expressly set forth in Sections 12.2 and 17.3 and Article 14 of this Agreement, or (y) terminate this Agreement with respect to one or more individual Property, but only as permitted in Sections 3.3 and 4.4 hereof, and proceed with the transaction with respect to the remaining Property, in which case the Aggregate Purchase Price shall be reduced by the Purchase Price for such terminated Property.
Sample 1
Term of Study Period. The term “Study Period” shall mean the period commencing on the Effective Date and ending at midnight on the earlier of 5:00 p.m. on (a) the date that is sixty (60) days after the Effective Date and (b) the date of Closing. During the Study Period, the Company will have the opportunity to conduct its due diligence examination of the Property, including but not limited to obtaining Commitments, Surveys, Environmental Assessments and Additional Environmental Assessments (all as hereinafter defined) (collectively, the “Third Party Reports”) and as the Study Period may be extended pursuant to Section 3.4. If on or before the expiration of the Study Period, the Company, in its sole and absolute discretion, shall elect not to proceed to the Closing for any reason whatsoever, then the Company shall have the right to terminate this Agreement by giving written notice of termination to Owner on or before the expiration of the Study Period, whereupon this Agreement shall automatically terminate, the Deposit shall be returned to the Company, and neither party shall have any further rights or obligations under this Agreement, except as expressly set forth in Section 12.2, and Articles 14, 16 and 18 of this Agreement.
Sample 1

Related to Term of Study Period

  • Study Period (a) The Acquiror shall have the right, until 5:00 p.m. on the last day of the Study Period, and thereafter if the Acquiror notifies the Contributor that the Acquiror has elected to proceed to Closing in the manner described below, to enter upon the Real Property and to perform, at the Acquiror's expense, such economic, surveying, engineering, environmental, topographic and marketing tests, studies and investigations as the Acquiror may deem appropriate. If such tests, studies and investigations warrant, in the Acquiror's sole, absolute and unreviewable discretion, the acquisition of the Property for the purposes contemplated by the Acquiror, then the Acquiror may elect to proceed to Closing and shall so notify the Contributor prior to the expiration of the Study Period. If for any reason the Acquiror does not so notify the Contributor of its determination to proceed to Closing prior to the expiration of the Study Period, or if the Acquiror notifies the Contributor, in writing, prior to the expiration of the Study Period that it has determined not to proceed to Closing, this Agreement automatically shall terminate, the Acquiror shall be released from any further liability or obligation under this Agreement.

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Base Term Commencing on the Expansion Premises Commencement Date, the defined term “Base Term” on page 1 of the Lease is deleted in its entirety and replaced with the following:

  • Inspection Period Buyer shall be under no obligation to purchase the Property or otherwise perform under this Agreement unless Buyer determines the Property to be, in all respects, suitable for its intended purposes. The decision as to whether the Property is suitable for its intended purposes shall be the sole decision of Buyer, determined in the absolute discretion of Buyer, with Buyer’s decision being final and binding upon both Parties. Buyer shall have until , 20 , at : ☐ AM ☐ PM to notify Seller of its termination of this Agreement due to Buyer's determination that the Property is unsuitable for its intended purpose ("Inspection Period"). In the event Buyer elects to terminate this Agreement, Buyer shall provide written notice of termination to Seller prior to the expiration of the Inspection Period. In the event Buyer provides said notice of termination, Seller and any Escrow Agent shall be obligated to return the Escrow Money to the Buyer as provided in Section V hereof, and neither party shall have any further rights or obligations under this Agreement. In the event Buyer does not submit written notice of termination prior to the expiration of the Inspection Period, the Buyer shall be deemed to be satisfied with its inspections of the Property and this contingency shall be deemed to be fulfilled. The Seller, at no expense, shall fully cooperate with Buyer in obtaining any and all approvals required from any Federal, State, or Local Government ("Governmental Approvals") necessary for Buyer to satisfy their needs during the Inspection Period for the suitability of the Property. Said Governmental Approvals shall be obtained during the Inspection Period unless the Parties agree otherwise. Any additional agreements related to this Section must be done in writing and attached to this Agreement.

  • Term of Agreement; Termination The term of this Agreement shall commence on the date hereof and such term and this Agreement shall terminate upon the earlier to occur of (i) the Effective Time, and (ii) the date on which the Merger Agreement is terminated in accordance with its terms. Upon such termination, no party shall have any further obligations or liabilities hereunder; PROVIDED, HOWEVER, such termination shall not relieve any party from liability for any breach of this Agreement prior to such termination.

  • Term of Agreement This Agreement shall continue in full force and effect until the tenth (10th) anniversary of Bank Closing; provided, that the provisions of Section 6.3 and 6.4 shall survive the expiration of the term of this Agreement; and provided further, that the receivership of the Failed Bank may be terminated prior to the expiration of the term of this Agreement, and in such event, the guaranty of the Corporation, as provided in and in accordance with the provisions of Section 12.7 shall be in effect for the remainder of the term of this Agreement. Expiration of the term of this Agreement shall not affect any claim or liability of any party with respect to any (i) amount which is owing at the time of such expiration, regardless of when such amount becomes payable, and (ii) breach of this Agreement occurring prior to such expiration, regardless of when such breach is discovered.

  • Commencement of Term The Term commences upon the Commercial Operation Date.

  • Term of the Plan The Plan, as set forth herein, shall come into existence on the date of its adoption by the Board of Directors; provided, however, that no Award may be granted hereunder prior to the Effective Date. The Board of Directors may suspend or terminate the Plan at any time. No ISOs may be granted after the tenth anniversary of the earlier of (i) the date the Plan is adopted by the Board of Directors, or (ii) the date the Plan is approved the stockholders of the Company.

  • Term of the Lease The lease begins at p.m. on (the “Check-in Date”) and ends at a.m. on (the “Checkout Date”).

  • Research Term The Research Program will be carried out during the two (2) year period following the Effective Date, unless this Agreement is terminated in accordance with Article 13 (such period, as may be extended pursuant to this Section 3.2, being the “Research Term”). BMS shall have the option to extend the Research Term for three (3) additional one (1) year periods on a year-by-year basis after the initial two (2) year period. At least one hundred eighty (180) days prior to the scheduled expiration of the Research Term (i.e., the applicable anniversary of the Effective Date) BMS will provide Ambrx with a nonbinding, good faith indication of whether or not BMS intends to extend the Research Term. In order to exercise its option to extend the Research Term, BMS must provide Ambrx a written notice exercising BMS’ option to extend the Research Term at least ninety (90) days prior to the scheduled expiration of the Research Term (i.e., the applicable anniversary of the Effective Date). If BMS does not provide such written notice, the Research Term will end when scheduled (i.e., on the applicable anniversary of the Effective Date). For each extension of the Research Term, subject to Section 3.4, the JRC will prepare an update to the Research Plan which will include an updated Budget for the BMS-funded Ambrx FTEs to perform the work required under such Research Plan and the projected Third Party Costs.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!