Common use of Buyer-Requested Extensions Clause in Contracts

Buyer-Requested Extensions. If Buyer requests an extension of the Closing Date in writing at least five (5) days prior to the scheduled Closing Date, and Seller, in Seller's sole and absolute discretion, grants in writing, an extension pursuant to a mutually executed Closing Date Extension Amendment, Buyer shall pay Seller, as a condition of Seller's execution of this Amendment, a (1) $300.00 fee for the extension, and (2) a per diem fee of $100.00 for each day that the Closing Date is extended, regardless of whether the Closing actually occurs before the Closing Date. Buyer shall send an executed copy of the Closing Date Extension Amendment and a copy of the check for the above- described fees to Seller to the e-mail address or fax number shown in Section 1.2, and shall deliver the signed agreement and the check to the Closing Agent within one (1) business day thereafter. These fees shall be considered as an additional “hard money” deposit, and therefore part of the Deposit pursuant to Section 5.1.