Examples of Initial Closing Properties in a sentence
The day on which the Closing occurs is referred to herein as (i) the "Initial Closing Date" with respect to the Initial Closing Properties and (ii) the "Deferred Closing Date" with respect to each of the Deferred Properties (the Initial Closing Date and the Deferred Closing Date, collectively, the "Closing Date", as applicable).
On the Initial Closing Date, the Parties shall deliver to Escrow Agent all the items required to effectuate the Initial Closing with respect to the Initial Closing Properties pursuant to and in accordance with Article 4 of the Purchase Agreement (for clarity, excluding documents relating to the Malibu Property, the Malibu Lumber Yard REIT or the Malibu Property Owner).
However, Seller and Purchaser now desire to close the Properties listed on Schedule A attached hereto (the “First Closing Properties”) on or about October 31, 2014 (subject to all other closing conditions set forth in the Agreement), separate and apart from other Initial Closing Properties.
Seller and Purchaser acknowledge that Purchaser needs to resolve estoppel and related issues with Buffalo Wild Wings (and all other closing conditions set forth in the Agreement must be satisfied) before Purchaser is willing to close on the balance of the Initial Closing Properties.
The Allocated Deposit applicable to the Initial Closing Properties shall be funded to Seller at the Initial Closing and be applied against the Initial Closing Purchase Price.
Pursuant to the Agreement, Seller and Purchaser agreed to fund the Initial Closing Properties at a single Closing.
The balance of the Initial Closing Properties (other than the First Closing Properties) will be closed in accordance with, and subject to the conditions of, the Agreement, but the parties will use their best efforts to close such Properties on or prior to November 6, 2014, subject to all other conditions set forth in the Agreement.