Examples of First Tentative Occupancy Date in a sentence
The Vendor shall identify the First Tentative Occupancy Date in the Statement of Critical Dates attached to this Addendum at the time the Purchase Agreement is signed.
The Vendor may, in accordance with this section, extend the First Tentative Occupancy Date on one or more occasions, by setting a subsequent Tentative Occupancy Date.
For condominiums, Vendors are expected to include a good faith estimate of the First Tentative Occupancy Date, which is the date the vendor anticipates the home will be completed and ready to move-in.
One approach could be to set the dates in good faith using your best judgement as noted above, but to send a First Notice under section 5 of the Addendum (Extending dates due to Unavoidable Delay) simultaneously -- pointing out that the pandemic may adversely affect delivery of the home by the First Tentative Occupancy Date.
The Vendor shall give written notice of any subsequent Tentative Occupancy Date to the Purchaser at least 90 days before the existing Tentative Occupancy Date (which in this Addendum may include the First Tentative Occupancy Date), or else the existing Tentative Occupancy Date shall for all purposes be the Firm Occupancy Date.
If the Vendor elects not to set a Second Tentative Occupancy Date, the Vendor shall give written notice of the Firm Occupancy Date to the Purchaser at least 90 days before the First Tentative Occupancy Date, or else the First Tentative Occupancy Date shall for all purposes be the Firm Occupancy Date.
The Vendor shall give written notice of the Second Tentative Occupancy Date to the Purchaser at least 90 days before the First Tentative Occupancy Date, or else the First Tentative Occupancy Date shall for all purposes be the Firm Occupancy Date.
The Vendor may choose to set a Second Tentative Occupancy Date that is no later than 120 days after the First Tentative Occupancy Date.
Therefore, consider the possible or likely delays due to the pandemic carefully before setting the First Tentative Closing Date One approach could be to set the dates in good faith using your best judgement as noted above but to send a First Notice under section 5 of the Addendum (Extending dates due to Unavoidable Delay) simultaneously -- pointing out that the pandemic may adversely affect delivery of the home by the First Tentative Occupancy Date.
If the project has not started construction, then vendors should consider setting the First Tentative Occupancy Date and the Outside Occupancy Date later than might otherwise be the case, to take into account delays that may occur as a result of both direct and indirect impacts, of the pandemic assuming the worst case scenario.