Examples of Extended Due Diligence Period in a sentence
During the Due Diligence Period (and the Extended Due Diligence Period, if and as applicable) and/or the Interim period, the Vendor will not enter into any agreements or contracts relating to the Property or any agreements to lease or leases or subleases (collectively, for the purposes of this Section 9.1(b), the “New Agreements”) which will survive Closing without first obtaining the prior written approval of the Purchaser, which approval will not be unreasonably withheld.
Notwithstanding the foregoing, the Purchaser confirms and agrees that the Extended Due Diligence Period may not be extended past the last Business Day in the month of September, 2023 and therefore the latest possible Extended Due Diligence Date would be the last Business Day in the month of September, 2023.
If following the conclusion of the Extended Due Diligence Period (as extended with respect to any replacement facility), Investor decides in its sole discretion, to delete a replacement facility from the transaction, it shall proceed to close on the remaining Facilities provided a total of nine (9) or more Facilities remain.
Investor shall have the right, prior to the end of the Extended Due Diligence Period, to delete up to four (4) of the Extended Facilities specified herein from this Agreement, in which case the Agreement shall continue in full force and effect with respect to those Facilities not so deleted.
If the Purchaser is satisfied, in its sole and absolute discretion, with the results of its review of the Purchased Assets, it will deliver an Acceptance Notice to this effect or otherwise waive the condition in its favour contained in Section 7.1(a) below on or before the expiration of the Extended Due Diligence Period (the “Extended Due Diligence Date”).
This Agreement may be terminated as to the Extended Facilities during the Extended Due Diligence Period for any reason or no reason, for failure of any of the conditions set forth in Article VII to occur, or as otherwise permitted by this Agreement.
Upon delivery of a termination notice within the Extended Due Diligence Period in accordance with this Section, the First Deposit, the Extension Deposit and the Second Deposit paid by the Purchaser, together with all interest earned or accrued thereon, will be immediately returned to the Purchaser without deduction or set-off, and the Purchaser’s termination will be without liability to the Purchaser, save and except for its obligation to repair and indemnify pursuant to the Access Agreement.
Buyer has the legal power, right and authority to enter ---------- into this Agreement and if Buyer elects to proceed to Closing at the end of the Due Diligence Period, or the Extended Due Diligence Period as the case may be, Buyer will have the legal power, right and authority to proceed to Closing and to consummate this transaction.
Prior to the expiration of the Extended Due Diligence Period, Buyer may obtain a title insurance commitment and a current survey of the Property, and notify Seller of any objections to title or survey matters affecting the Property (“Title Objections”).
On or prior to the last day of the Extended Due Diligence Period, Buyer will advise Seller in writing of which service contracts it will assume.