Initial Scheduled Closing Date definition
Examples of Initial Scheduled Closing Date in a sentence
Buyer shall have the option, in its sole and absolute discretion, to require that the Close of Escrow occur earlier than the Initial Scheduled Closing Date or the Rescheduled Closing Date (defined in Section 6.2 below) by giving written notice thereof to Seller and Escrow Holder.
Subject to the remainder of this Section, the Closing shall take place at the office of Carlsmith Ball, Pacific Tower, Suite 2200, 1001 ▇▇▇▇▇▇ ▇▇▇▇▇▇, Honolulu, Hawaii 96813, at and as of 11:00 AM, H.S.T. on Friday, July 30, 1999, or at such other time, date or place as may be mutually agreed upon by Seller and Purchaser (the "Initial Scheduled Closing Date").
Notwithstanding the foregoing, Seller shall have the right, by delivering notice to Purchaser not later than three (3) Business Days before the Initial Scheduled Closing Date, as applicable, to adjourn such closing date to a date (the "SELLER ADJOURNED CLOSING DATE") not later than thirty (30) days after the Initial Scheduled Closing Date, such right being in addition to any other right provided for in this Agreement for Seller to extend or adjourn the Closing Date (as hereinafter defined).
As used in this Agreement, the term “Closing Date” shall mean the Initial Scheduled Closing Date, the Purchaser Adjourned Closing Date, or any then-applicable Seller Adjourned Closing Date, as applicable; provided, however, if such date is not a Business Day then the Closing Date shall be the first (1st) Business Day immediately following such date.
Notwithstanding the foregoing, Buyer may elect to close Escrow at any time before the Initial Scheduled Closing Date by providing Seller at least five (5) days’ prior written notice of the date on which Buyer elects to close Escrow.
The Initial Scheduled Closing Date, as same may be adjourned pursuant to the First Extension Date and Second Extension Date, is referred to herein as the “Closing Date”.
As used herein, the term “Closing Date” shall mean the Initial Scheduled Closing Date and the Purchaser Adjourned Closing Date, as applicable.
If Purchaser has delivered the Extension Notice under Section 4.2, but nevertheless fails to deliver the Extension Deposit to Escrow Agent pursuant to Section 4.2, then Purchaser shall be deemed to have forever waived its right to extend the Initial Scheduled Closing Date pursuant to this Section 4.2 (and such Extension Notice shall be of no force or effect).
Notwithstanding Section 6.1 above, Buyer shall have the option (“Extension Option”) to extend the Initial Scheduled Closing Date for an additional thirty (30) days (“Rescheduled Closing Date”), in Buyer’s sole and absolute discretion, by providing written notice to Seller of such election prior to the Initial Scheduled Closing Date.
Furthermore, if the Initial Scheduled Closing Date is automatically extended beyond December 31, 2010, by virtue of Sections 6.3, 12 or 21.2 of the Agreement, in addition to Buyer’s other rights under the Agreement, Buyer may terminate the Agreement, as amended by this Amendment, by written notice to Seller, in which event the Deposit shall be immediately released to Buyer by Escrow Holder.