Lot Closing definition

Lot Closing means the closing of the sale of a Lot under Contract by Borrower or a Guarantor to a bona fide purchaser for value that is not a Subsidiary or Affiliate.
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Examples of Lot Closing in a sentence

  • The date upon which Purchaser acquires the Model Lot shall be referred to herein as the "Model Lot Closing Date".

  • Purchase Price credits for Lender Release Surcharges are subject to strict compliance with the Lot Closing requirements of Section 3.3.1.

  • The terms, covenants, conditions, indemnities, -------- representations, warranties, disclaimers and agreements of the parties hereto under this Agreement shall survive, and remain enforceable after, the Closing and each Lot Closing, except as expressly provided herein, and shall survive the recording of the deeds and shall not be merged therein.

  • The closing of the sale of an ------------------ Exercised Lot shall be effected through a "New York-style" escrow (a "Lot Closing Escrow") with Escrowee in accordance with the usual form of deed and money escrow agreement than in use by Escrowee, with such changes and additions as may be necessary to conform to the terms of this Agreement.

  • At a Lot Closing, Seller shall deliver ---------- to Purchaser possession of the Exercised Lot that is the subject of such Lot Closing.

  • The Lot Closing Schedule shall be extended as necessary to accommodate such thirty (30) day period and the Escalation shall axxxx and not accrue during such extension.

  • Delivery of the deed for the Exercised Lot which is the subject of such Lot Closing Escrow, and the other closing documents, shall be made through such Lot Closing Escrow.

  • The purchase price (the "Purchase Price Schedule") for the Lots are shown on the Lot Closing Schedule attached hereto as EXHIBIT D.

  • Seller shall have until the Initial Lot Closing to cure any such title defects.

  • Seller agrees to use reasonable efforts to delay development of additional competitive lot inventory (defined as any lot in Fawn Lake intended to be priced for sale at purchase price less than or equal to the Purchase Price for the Initial Lot Closing plus one hundred and twenty-five percent (125%) for a period not to exceed twelve (12) months from the date of the Initial Lot Closing to focus marketing and sales efforts on Purchaser’s Section 15 inventory and listing obligations.

Related to Lot Closing

  • Second Closing has the meaning set forth in Section 2.2.

  • First Closing has the meaning set forth in Section 2.1(a).

  • Put Closing shall have the meaning set forth in Section 2.3.8.

  • Initial Closing shall have the meaning ascribed to such term in Section 2.1.

  • Third Closing shall have the meaning ascribed to such term in Section 2.1(c).

  • Subsequent Closing shall have the meaning ascribed to such term in Section 2.4.

  • Plant closing means the closing of a plant site or other corporate location that directly results in termination of the Grantee’s Service.

  • Put Closing Date shall have the meaning set forth in Section 2.3.8.

  • Second Closing Date means the date of the Second Closing.

  • First Closing Date shall refer to the time and date of delivery of certificates for the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representatives and shall not be earlier than three or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

  • Final Closing means the last closing under the Private Placement;

  • Target Closing Date means three (3) Business Days following receipt of the Approval and Vesting Order, or such other date as the Parties may agree.

  • IPO Closing means the initial closing of the sale of the Class A Common Stock in the IPO.

  • Initial Closing Date shall have the meaning assigned to such term in Section 1.2 hereof.

  • Third Closing Date has the meaning set forth in Section 2.2(c).

  • Additional Closing has the meaning set forth in Section 2.3.

  • Amendment Closing Date means the first date that all the conditions precedent set forth in this Amendment are satisfied or waived in accordance herewith.

  • Time of Closing means 10:00 a.m. (Vancouver time) on the Closing Date, or such other time as the parties may mutually determine;

  • Subsequent Closing Date means, with respect to each Subsequent Closing, the date on which such Subsequent Closing is deemed to have occurred.

  • Final Closing Date shall have the meaning specified in Section 7.2(a) hereof.

  • Closing means the closing of the purchase and sale of the Securities pursuant to Section 2.1.

  • Applicable Closing Date Has the meaning specified in Section 5.01(b) of this Trust Supplement.

  • Acquisition Closing Date means the date on which the Acquisition is consummated.

  • Option Closing Date shall have the meaning ascribed to such term in Section 2.2(c).

  • Option Closing means the closing of the purchase and sale of the Option Shares pursuant to Section 2.2.

  • Merger Closing Date the Closing Date (as defined in the Merger Agreement).