CCR Estoppel definition
Examples of CCR Estoppel in a sentence
In no event shall Purchaser’s receipt of any CC&R Estoppel be a condition precedent to any of Purchaser’s obligations under this Agreement, nor shall failure to obtain any CC&R Estoppel be a breach or default of Seller under this Agreement.
Notwithstanding the foregoing, if Seller is unable to obtain and deliver sufficient Lease Estoppel Certificates and the CCR Estoppel Certificate under this Section 30, or if the certificates received contain information or omissions unacceptable to Buyer in its reasonable discretion, then Buyer may, by notice given to Seller before the Closing, elect (i) to waive said conditions and proceed with the Closing, or (ii) to terminate this Agreement and receive a refund of the Deposit.
The CCR Estoppel must be in a form reasonably satisfactory to Purchaser.
In addition, Seller shall not be in default or breach if ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ fails to complete or return the CC&R Estoppel Certificate, or returns the CC&R Estoppel Certificate with information unacceptable to Buyer.
The parties understand that ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is not obligated to sign or return the CCR Estoppel Certificate, and the parties agree that obtaining the CC&R Estoppel Certificate with information acceptable to Buyer (or obtaining the CC&R Estoppel Certificate at all) is not a condition or contingency for Buyer’s benefit.
As a courtesy to Buyer, Seller shall use commercially reasonable efforts to obtain a completed and signed CCR Estoppel Certificate substantially in the form attached hereto as Exhibit “O” from ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at least five (5) business days prior to Closing.
Receipt of the Desert Ridge CCR Estoppel and the Requested Estoppels shall not be a condition to Buyer’s or Seller’s obligation to close under this Agreement.
Receipt of a CCR Estoppel shall be a condition to Purchaser’s obligations hereunder so long as Seller has delivered the written request as required above, and Seller shall use commercially reasonable efforts to timely obtain and deliver the CCR Estoppel to Purchaser.
Seller shall provide Buyer with a copy of each CCR Estoppel for Buyer’s review and comment before delivering the same to the applicable party.
Contributors shall, prior to the Closing, use commercially reasonable efforts to obtain executed estoppels from each of the parties to any CC&R (other than any Contributor) substantially in the form attached hereto as Exhibit R (a "CC&R Estoppel").