TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice, this Contract shall be terminated and the Xxxxxxx Money Deposit shall be refunded to Buyer.
TIME BEING OF THE ESSENCE in connection with the exercise of Tenant's option pursuant to this Article.
TIME BEING OF THE ESSENCE the Security Deposit as defined in the Preamble for the full and faithful performance of Lessee’s obligations under this Lease, including without limitation, the surrender of possession of the Premises to Lesser as herein provided. If Lessor applies any part of said Security Deposit to cure any default of Lessee, Lessee shall, on demand, deposit with Lessor the amount so applied so that Lessor shall have the full Security Deposit on hand at all times during the Term of this Lease. In the event a bona fide sale, subject to this Lease, Lessor shall have the right to transfer the Security Deposit to the vendee, and Lessor shall be considered released by Lessee from all liability for the return of the Security Deposit; and Lessee agrees to look solely to the new lessor for the return of the Security Deposit, and it is agreed that this shall apply to every transfer or assignment made of the Security Deposit to the new lessor. Provided this Lease is not in default, the Security Deposit (less any portions thereof used, applied or retained by Lessor in accordance with the provisions of this Article 16), shall be returned to Lessee after the expiration or sooner termination of this Lease and after delivery of the entire Premises to Lessor in accordance with the provisions of this Lease. Lessee covenants that it will not assign or encumber or attempt to assign or encumber the Security Deposit and Lessor shall not be bound by any such assignment, encumbrance or attempt thereof. In the event of the insolvency of Lessee, or in the event of the entry of a judgement in any court against Lessee which is not discharged within thirty (30) days after entry, or in the event a petition is filed by or against Lessee under any chapter of the bankruptcy laws of the State of New Jersey or the United States of America, then in such event, Lessor may require the Lessee to deposit additional security in an amount which in Lessor’s sole judgement would be sufficient to adequately assure Lessee’s performance of all of its obligations under this Lease including all payments subsequently accruing. Failure of Lessee to deposit the security required by this Article 16 within ten (10) days after Lessor’s written demand shall constitute a material breach of this Lease by Lessee.
TIME BEING OF THE ESSENCE. Seller shall exercise commercially reasonable efforts in removing any Removable Exceptions (hereinafter defined) and any Exceptions that Seller elects to remove at Seller’s cost pursuant to this Section 13. Subject to Section 13(B) and Section 13(C) hereof, if Seller is unable, or elects not to attempt, to eliminate any Exception (which is not a Permitted Exception or Removable Exception), or if Seller elects to attempt to eliminate any Exception (which is not a Permitted Exception or a Removable Exception) but is unable to do so or thereafter decides not to eliminate the same, and accordingly, is unable to convey title to the Premises in accordance with the provisions of this Agreement, Seller shall so notify Purchaser thereof and, within seven (7) business days after receipt of such notice from Seller, Purchaser may elect, at Purchaser’s option, to either (i) terminate this Agreement by notice given to Seller (TIME BEING OF THE ESSENCE with respect to such notice from Purchaser), in which event the provisions of Article 14 of this Agreement shall apply, or (ii) to accept title to the Premises subject to such exceptions, without any abatement of the Purchase Price. If Purchaser shall not notify Seller of such election within such seven (7) business day period, TIME BEING OF THE ESSENCE, Purchaser shall be deemed to have elected clause (i) above with the same force and effect as if Purchaser had elected clause (i) within such seven (7) business day period.
TIME BEING OF THE ESSENCE. TIME SHALL BE OF THE ESSENCE with regard to each date by which performance is required by Subtenant under the Prime Lease or this Sublease.
TIME BEING OF THE ESSENCE. The covenants, agreements, terms, provisions and conditions contained in this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
TIME BEING OF THE ESSENCE. Upon the closing, possession of the Property shall be delivered to Purchaser in the condition required by this Agreement.
TIME BEING OF THE ESSENCE. In consideration thereof, Borrower shall pay Administrative Agent (for the benefit of Lender) the Extension Fee on or prior to the first day of the Extended Term, which Extension Fee shall be earned by Xxxxxx as of the date of the Extension Notice; provided, however, if Borrower does not satisfy the Extension Conditions below, no Extension Fee shall be payable, although Borrower shall remain liable for the payment of the costs set forth in Section 2.4(b)(x). In connection with the exercise by Borrower of each Extension Option, Borrower must satisfy each of the following conditions (the “Extension Conditions”):
TIME BEING OF THE ESSENCE. (“Time of the Essence” date) at the offices of Xxxxxx X. Xxxxx, Esq. located at 000 Xxxxxxxx, XXX 00X, Xxxxxxxxxx XX 00000.
TIME BEING OF THE ESSENCE. NEOSYSTEM shall provide the services and ------------------------- develop, manufacture and supply the PRODUCTS in accordance with the timetable attached hereto as Exhibit A. Time is of the essence with respect to all --------- timetables set forth in Exhibit A.
