Examples of Outside Closing Date in a sentence
Provided all conditions set forth in Article 4 have been either satisfied or waived, the Closing shall occur on the date which is 30 days (or sooner upon the agreement of the parties or as reasonably required to complete the Closing before the Outside Closing Date) after the expiration of the Entitlement Period (the “Closing Date”), as such date may be extended by the provisions of Article 10 (but not beyond the Outside Closing Date).
If the Closing does not occur on or before the Outside Closing Date because of the failure of a condition provided for in this Article 4, which failure is not caused by breach by either party, then either party may terminate this Agreement and Escrow, whereupon: (i) the Deposit shall be refunded to Buyer; and (ii) except for obligations which expressly survive, the parties shall be released and relieved of all obligations to each other under this Agreement.
Buyer and/or Seller may assign this Agreement to an exchange intermediary for the purpose of facilitating such an exchange by the assigning party, and Buyer and/or Seller may extend the Closing Date by up to 30 days (but not beyond the Outside Closing Date) to facilitate its tax-deferred exchange.