Common use of Amendment to the PSA Clause in Contracts

Amendment to the PSA. Notwithstanding anything in the PSA to the contrary, each Party hereby agrees that (i) Buyer is deemed to have made an election under Section 8.1 of the PSA to extend the Target Closing Date to December 8, 2017; (ii) Buyer shall, within one Business Day of the date hereof, deliver to Sellers an amount equal to Three Hundred Fifty Thousand Dollars ($350,000.00) by wire transfer of immediately available funds in accordance with the instructions set forth in Exhibit A hereto, which amount shall constitute the “Extension Payment” for all purposes under the PSA (including Section 8.1 thereof); (iii) Closing shall occur at the Houston office of ▇▇▇▇▇▇ & ▇▇▇▇▇▇, LLP located at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Suite 2500, Houston, Texas 77002, with all documents to be delivered at Closing pursuant to Section 8.3 of the PSA to be executed by each applicable Party on the day before the Closing Date at the foregoing location, which executed documents shall be held in escrow by ▇▇▇▇▇▇ & ▇▇▇▇▇▇, LLP pending the occurrence of the Closing; and (iv) at the Closing, the Purchase Price shall be adjusted upward by the amount of the Extension Payment pursuant to Section 3.3(a)(vi) of the PSA and the Extension Payment shall be credited toward such Adjusted Purchase Price pursuant to Section 3.1 of the PSA.