Examples of Outside Occupancy Date in a sentence
If for any reason (other than breach of contract by the Purchaser) Occupancy has not been given to the Purchaser by the Outside Occupancy Date, then the Purchaser has 30 days to terminate the Purchase Agreement by written notice to the Vendor.
The Delayed Occupancy Date may be any Business Day after the date the Purchaser receives written notice of the Delayed Occupancy Date but not later than the Outside Occupancy Date.
If the Purchaser does not provide written notice of termination within such 30-day period, then the Purchase Agreement shall continue to be binding on both parties and the Delayed Occupancy Date shall be the date set under paragraph 3(c), regardless of whether such date is beyond the Outside Occupancy Date.
The Final Tentative Occupancy Date or Firm Occupancy Date, as the case may be, can be any Business Day on or before the Outside Occupancy Date.
A subsequent Tentative Occupancy Date can be any Business Day on or before the Outside Occupancy Date.
The Firm Occupancy Date can be any Business Day on or before the Outside Occupancy Date.
If the Vendor cannot provide Occupancy by the Firm Occupancy Date, then the Purchaser is entitled to delayed occupancy compensation (see section 7 of the Addendum) and the Vendor must set a Delayed Occupancy Date which cannot be later than the Outside Occupancy Date.
Vendors thereafter will be entitled to set subsequent Tentative Occupancy dates with no restriction other than the Outside Occupancy Date and the Roof Assembly Date (after which a Final Tentative Occupancy Date or Firm Occupancy Date is to be provided).
The Outside Occupancy Date should be set further out than might otherwise be the case, as the purchaser will have a 30-day period in which they can terminate the purchase agreement.
Eligibility for Delayed Occupancy Compensation Delayed Occupancy compensation is payable if: • The Firm Occupancy Date is not met.• Occupancy is delayed beyond the Outside Occupancy Date and you exercised your rightto terminate the purchase agreement during the Purchaser’s Termination Period described in your Addendum.