WEB COPY Sample Clauses

WEB COPY. The Vendor must set a Firm Closing Date by giving proper written notice at least 90 days before the Second Tentative Closing Date. The Firm Closing Date can be up to 120 days after the Second Tentative Closing Date, and so could be as late as: the day of , 20 . The Vendor can set a Delayed Closing Date that is up to 365 days after the earlier of the Second Tentative Closing Date and the Firm Closing Date: This Outside Closing Date could be as late as: the day of , 20 .

WEB COPY. If for any reason (other than breach of contract by the Purchaser) Closing has not occurred by the Outside Closing Date, then the Purchaser has 30 days to terminate the Purchase Agreement by written notice to the Vendor. If the Purchaser does not provide written notice of termination within such 30-day period then the Purchase Agreement shall continue to be binding on both parties and the Delayed Closing Date shall be the date set under paragraph 3(c), regardless of whether such date is beyond the Outside Closing Date.

WEB COPY. The Addendum forms part of the Purchase Agreement. The Vendor and Purchaser agree that they shall not include any provision in the Purchase Agreement or any amendment to the Purchase Agreement or any other document (or indirectly do so through replacement of the Purchase Agreement) that derogates from, conflicts with or is inconsistent with the provisions of this Addendum, except where this Addendum expressly permits the parties to agree or consent to an alternative arrangement. The provisions of this Addendum prevail over any such provision.

WEB COPY. It is understood that this Agreement is subject to compliance in all respects with the subdivision control provisions of the Planning Act (Ontario), which compliance shall be obtained by the Vendor at its sole expense before Closing, failing which (in the absence of any extension of the Closing established or implemented by the Vendor pursuant to and in accordance with the provisions of the Tarion Addendum) this Agreement shall automatically be terminated and have no further force and effect, and the Vendor and the Purchaser shall have no further liabilities or obligations hereunder, and neither of the parties hereto shall thereafter be liable to the other for any costs and/or damages that may be suffered or incurred by them in connection with this Agreement or the termination thereof, save and except for any compensation that may be payable by the Vendor to the Purchaser in connection therewith pursuant to the provisions of the Tarion Addendum.

WEB COPY. Important Next Steps

WEB COPY. The Purchaser acknowledges that title to the Property may be subject to these restrictions and covenants as well as such other restrictions and covenants as may be required by the Developer. If requested, the Purchaser agrees to execute a separate document, in form and substance satisfactory to the Vendor incorporating such restrictions and covenants.

WEB COPY. The Purchaser covenants and agrees that he will within ten (10) days of notification from the Vendor attend and complete the Vendor’s colour and material selection form (the “Interior Finishing Selection Sheet”) for those items of construction or finishing for which the Purchaser is entitled to make selection pursuant to this Agreement, failing which the Vendor may declare the Purchaser to be in default under this Agreement and may exercise any or all of its remedies set forth in this Agreement and/or at law or, in the alternative, the Vendor may complete the same in its sole and absolute discretion, on behalf of the Purchaser and the Purchaser agrees to be bound by the Vendor's selection and the Vendor shall not be liable for any delays in having the Property ready for Closing. The Purchaser acknowledges that when said selection form is completed, it shall constitute part of this Agreement.

WEB COPY. The Purchaser covenants and agrees that he will within ten (10) days of notification from the Vendor attend and complete the Vendor’s colour and material selection form (the “Interior Finishing Selection Sheet”) for those items of construction or finishing for which the Purchaser is entitled to make selection pursuant to this Agreement, failing which the Vendor may declare the Purchaser to be in default under this Agreement and may exercise any or all of its remedies set forth in this Agreement and/or at law or, in the alternative, the Vendor may complete the same in its sole and absolute discretion, on behalf of the Purchaser and the Purchaser agrees to be bound by the Vendor's selection and the Vendor shall not be liable for any delays in having the Property ready for Closing. Notwithstanding the immediately preceding sentence, the Vendor may, in its sole, unfettered, absolute and subjective discretion, allow the Purchaser to make changes to the colour and materials selected by the Vendor on the Purchaser’s behalf, provided that the Purchaser shall pay to the Vendor an administration fee of $250.00 plus HST for each change so requested by the Purchaser. The Purchaser acknowledges that when said selection form is completed, it shall constitute part of this Agreement.

WEB COPY. In the event this Dwelling is described on the first page of this Agreement as having a “walk-out” or a “walk-up”, and such is not possible, the Purchase Price herein shall be reduced by the amount the Purchaser paid for a “walk-out” or a “walk-up”. In the event this Dwelling is not described on the first page of this Agreement as having a “walk-out” or a “walk-up” and such is required, pursuant to final approved grading and engineering plans, then the Purchase Price herein shall be increased by Forty Thousand ($40,000.00) Dollars. Any credit or additional charge shall be made by way of adjustment on the Statement of Adjustments and shall be paid or credited on the Closing Date.

WEB COPY. The Purchaser further acknowledges and agrees that a $250.00, plus Applicable Taxes, administrative fee shall be charged to the Purchaser for each deposit cheque in the possession of the Vendor that the Vendor permits to be: (i) exchanged for a replacement cheque or (ii) deposited on a later date than the date indicated on the face of said cheque. The Purchaser acknowledges and agrees that any deposit cheques that are exchanged for a replacement cheque shall, at the sole option of the Vendor, either be destroyed by the Vendor and not be returned to the Purchaser or his solicitor, or be returned by the Vendor to the Purchaser or its solicitor.