Seller Delay definition

Seller Delay as defined in the Work Agreement.
View Source
Seller Delay means any delay in completion of the Project resulting from any failure by Seller to perform timely any of its obligations under this Agreement. "Unavoidable Delay" means a delay due to war, riots, civil commotion, strikes, labor disputes, embargoes, natural disaster, Acts of God, acts or omissions of government authorities, casualty events or any other cause or contingency similarly beyond the control of the Parties or the contractors.
View Source
Seller Delay as used in this Lease or this Work Letter shall mean the extent of any delay in the design or construction of the Buyer Improvements which is due to the following: (1) delay in the giving of authorizations or approvals by Seller beyond the time periods provided for herein or in the Lease; (2) delay attributable to the refusal of Seller, its agents or contractors to permit Buyer, its agents or contractors, access to and use of the Building and any Building facilities or services after the Initial Buyer Work Date; (3) delay attributable to Seller giving Buyer incorrect or incomplete Building requirements or Seller Plans, or revisions made to such Seller Plans subsequent to the delivery of such items to Buyer; and (4) failure of Seller to deliver Seller's Plans to Buyer on or before July 1, 1998. No Seller Delay shall be deemed to have occurred unless and until Buyer has given written notice to Seller specifying the action or inaction which Buyer contends constitutes a Seller Delay. If such action or inaction is not cured within one (1) business day after Seller's receipt of such notice, then a Seller Delay, as set forth in such notice, shall be deemed to have occurred commencing as of the date Seller received such notice and continuing for the number of days the substantial completion of the Buyer Improvements was in fact delayed as a direct result of such action or inaction.
View Source

Examples of Seller Delay in a sentence

  • No Seller Delay shall be deemed to have occurred unless and until Buyer has given written notice to Seller specifying the action or inaction which Buyer contends constitutes a Seller Delay.

  • If such action or inaction is not cured within one (1) business day after Seller's receipt of such notice, then a Seller Delay, as set forth in such notice, shall be deemed to have occurred commencing as of the date Seller received such notice and continuing for the number of days the substantial completion of the Buyer Improvements was in fact delayed as a direct result of such action or inaction.

  • Failure of Seller to perform as requested within such twenty- one (21) day period shall be deemed a Seller Delay for the number of days of delay beyond such twenty-one (21) day period.

  • The event(s) of a Seller Delay shall act to suspend all obligations of any kind or nature of the Parent under any and all agreements of any nature or kind between the Parent and Seller.

  • Both the Construction Commencement Date and the Construction Completion Date shall be extended by periods of Seller Delay (as defined below) and Force Majeure (as defined below).

  • Any notice, request or other communication required or permitted to be given to the parties under this Agreement shall be in writing and either delivered in person or sent by telecopy, telex, telegram, overnight mail or courier service, or certified or registered mail, return receipt requested, postage prepaid, to the parties at the following addresses (or at such other addresses for a party as shall be specified by like notice): If to the Corporation: ▇▇▇▇, Inc.

  • Only to the extent the allocation of Contingency or Cost Savings and insurance are not sufficient to pay such Seller Cost Overruns or Seller Delay Costs, may Purchaser may make a claim against Seller and/or the Cost Overrun Holdback or the Delay Cost Holdback.

  • In addition, if a Seller Cost Overrun or Seller Delay Cost occurs, at Seller’s request and upon Purchaser’s reasonable approval, Purchaser shall first (i) allocate Contingency and any Cost Savings to pay such Seller Cost Overrun or Seller Delay Cost, and (ii) in all events, pursue any claims for payment under any insurance policies, before making a claim against Seller and/or the Cost Overrun Holdback or Delay Cost Holdback.


More Definitions of Seller Delay

Seller Delay means any delay in substantial completion of Seller's Work which is actually and directly caused by all or any of the following:
View Source
Seller Delay means Seller’s failure to respond in a reasonable period of time or Seller’s other interference with Buyer’s development of and/or construction on Phase 1; provided that Buyer has given written notice of such delay to Seller and Seller has failed to cease the delay within forty-eight (48) hours following Seller’s receipt of such notice, (2) the term “Commence Construction” shall mean commencement of grading on Phase 1 and (3) the term “Complete(s) Construction” shall mean substantial completion of the Initial Improvements such that a temporary or conditional certificate of occupancy has been issued for the Initial Improvements by the City. Buyer shall Complete Construction of the Office Building prior to the hotel. The obligations to Commence Construction and Complete Construction as set forth above shall be referred to as the “Construction Obligations.” The Construction Obligations shall survive the recordation of the Phase 1 Special Warranty Deed until the satisfaction of the Construction Obligations. Seller shall execute a document evidencing the expiration of this provision or the satisfaction of the Construction Obligations within thirty (30) days following a request for the same by Buyer or Buyer’s successor or assignee.
View Source
Seller Delay means the number of days in which Seller performs any obligation under Section 7.2 hereof in excess of the number of days set forth for such performance therein.
View Source
Seller Delay means any delays due to the acts or omissions of Seller, including, without limitation, any breach of this Agreement by Seller and any delay in providing any information the Seller is required to provide the Buyer in connection with its obligations under this Agreement, which results in the transaction contemplated by this Agreement not being effectuated or consummated by the stated Closing Date, provided however, a Seller Delay shall not include events that are beyond the reasonable control of Seller which include, without limitation, an act of God; catastrophe; acts of terrorism; fire, earthquake, floods or explosion, adverse weather or weather related site conditions; war, riot, or sabotage; epidemic or pandemic and any government-mandated quarantines and closures of government offices; inability to procure or shortages of materials, supplies, facilities, natural resources, equipment or labor; failure of transportation; strikes, lockouts, or action of labor unions; laws hereafter enacted; orders of governmental or civil authorities, or government action or inaction where action is required. “Seller Retained Liabilities” means any liability, obligation or responsibility of Seller related to (a) any claim by an Obligor related to matters occurring prior to the Closing Date, (b) any liabilities or obligations of Seller under the Notes or Collateral Documents with respect to matters occurring prior to the Closing Date or (c) any tortious, fraudulent or unlawful actions by Seller or its representatives related to any Loan at any time. “Servicing File” means any documents (other than Loan Documents) related to the origination or the servicing of any Loan that are in the possession of or under the control of the Seller or any of its servicers, including but not limited to legal opinions, payment histories, escrow balances, all written communications sent to any Obligor or received from any Obligor and the Seller’s or any servicer’s asset summaries. Notwithstanding anything to the contrary contained herein, with respect to each Loan, the Servicing File shall consist solely of any related documents or records generated by the servicer or received by the applicable servicer. “Swap Breakage Liability” is defined in Section 24 of this Agreement. “Swap Counterparty” is defined in Section 24 of this Agreement. “Swap Loans” is defined in Section 24 of this Agreement. “Title Policy” is defined in Section 6.2.12 of this Agreement. “Valuation Mechanism” is defined in Sec...
View Source

Related to Seller Delay

  • Purchaser Deliverables has the meaning set forth in Section 2.2(b).

  • Seller Losses shall have the meaning set forth in Section 9.1(b).

  • Seller Default has the meaning set forth in Section 12.1.

  • Buyer Losses has the meaning set forth in Section 10.1(a).

  • Excusable Delay means a delay due to acts of God, governmental restrictions, stays, judgments, orders, decrees, enemy actions, civil commotion, fire, casualty, strikes, work stoppages, shortages of labor or materials or other causes beyond the reasonable control of Borrower, but lack of funds in and of itself shall not be deemed a cause beyond the control of Borrower.