TITLE CLOSING DATE. The transfer of title to the Property to the Purchaser shall be completed on the later of the Occupancy Date or a date established by the Vendor as set out in paragraph 5 (the “Title Closing Date”).
TITLE CLOSING DATE. If the Property is substantially completed sufficient to permit occupancy by the Occupancy Date, but the Condominium and the by-laws required or desired to be registered by the Vendor have not yet been registered, then the Purchaser shall take occupancy of the Property on that date as a monthly occupant at a monthly occupancy fee, in advance, determined in accordance with the Act, and said monthly occupancy fee shall not be credited as payment towards the Purchase Price. The Title Closing Date shall then be extended to a date designated by the Vendor’s solicitors as the Title Closing Date, which date shall be at least twenty (20) days after notice in writing is given by the Vendor’s solicitors to the Purchaser or his solicitor that the Condominium has been registered. The Vendor is not required to entertain any requests for extensions or forbearance and may charge the Purchaser a fee if it agrees to grant an extension of the Occupancy Date or the Title Closing Date at the request of the Purchaser. Failure of the Vendor to exercise any of its rights under this Agreement at any time or times shall not act as a waiver of such rights.
