Closing Date Extension Clause Samples
A Closing Date Extension clause allows the parties in a transaction to postpone the originally scheduled closing date under certain conditions. Typically, this clause outlines the circumstances under which an extension is permitted, such as delays in obtaining regulatory approvals or satisfying specific contractual obligations, and may specify the maximum length of the extension or the process for requesting it. Its core practical function is to provide flexibility and prevent the deal from falling through due to unforeseen delays, ensuring that both parties have adequate time to fulfill all requirements before finalizing the transaction.
POPULAR SAMPLE Copied 72 times
Closing Date Extension. If necessary, the Closing Date shall be automatically extended to allow for the full duration of any Title Cure Period or any other period for a party to act under this Section 3.1, so that the expiration date of any Title Cure Period or any other deadline under this Section 3.1 shall not occur after the Closing Date, in which event, the Closing Date shall be deemed to be the date which is three (3) Business Days following the earlier of (i) the date on which all of the Title Objections have been cured or satisfied by Seller or (ii) the expiration of the Title Cure Period.
Closing Date Extension. If as of the Closing Date, (i) the Site ---------------------- Survey Approval is not obtained or (ii) an outstanding appeal has been taken from the Building Code Variance, then either party may elect to extend the Closing Date by written notice to the other party delivered at least two (2) Business Days prior to the Closing Date, for such time as is necessary to obtain the Site Survey Approval or resolve any outstanding appeal taken from the Building Code Variance but in no event shall such extension extend the Closing Date beyond June 30, 1998. Subject to the foregoing, if the Site Survey Approval has not been obtained or any outstanding appeal from the Building Code Variance nor been resolved to the mutual satisfaction of Prudential and REIT OP, by the Closing Date as so extended and both parties do not mutually agree to proceed to close the Transaction, then Prudential shall promptly return the Letter of Credit to REIT OP and upon such return, this Agreement shall terminate and neither party shall have any further rights or obligations hereunder other than any arising under any Section herein which expressly provides that it shall survive the termination of this Agreement.
Closing Date Extension. Notwithstanding any provision of this Agreement to the contrary except subsection 18.d, in the event that Purchaser is prepared to close this transaction pursuant to the terms of this Agreement, and if Seller has not fully performed its obligations hereunder and deposited all documents with Title Company necessary for Closing to timely occur, then Purchaser, in its sole and absolute discretion, and in addition to all other rights and remedies it may have, may, from time to time, notify Seller that Purchaser extends the Closing Date to such date or dates as Purchaser may elect to provide Seller with the additional time necessary for Seller to fully perform its obligations hereunder, and Purchaser may defer deposit of the balance of the Purchase Price pending Seller’s performance, provided, however, that the Closing Date shall not be extended more than thirty (30) days under this subsection. Seller’s failure to fully perform by such extended Closing Date(s) without legal excuse shall constitute a default by Seller under this Agreement.
Closing Date Extension. The Closing Date agreed to under the Purchase Agreement shall be hereby extended to .
Closing Date Extension. The Closing Date may be extended by SELLER in writing one (1) or more times in the event of a legitimate title objection, or if the Unit is not Substantially Complete. The parties agree that the fact that minor items of construction with respect to the Unit remain to be completed at the time of Closing or for construction work or improvements continuing in other units or in common areas or facilities in the Condominium shall not entitle either party to postpone or delay the time for Closing or to withhold or otherwise delay the payment of any part of the purchase price due hereunder. The parties further agree that Section 25 above is controlling regarding punch list items.
Closing Date Extension. Section 6.1 is hereby deleted in its entirety and replaced with the following new Section 6.1:
Closing Date Extension. Notwithstanding anything to the contrary in the Purchase Agreement, Buyer may extend the Closing Date to January 16, 2020, provided that on or prior to December 2, 2019, Buyer delivers to Seller written notice of Buyer's intention to extend the Closing Date and Buyer deposits with Escrow Holder concurrently with such written notice an additional deposit, in cash or current funds, in the amount of One Million Dollars ($1,000,000.00)(the "First Extension Deposit"), and if such extension right is exercised by Buyer as provided above, Buyer may further extend the Closing Date to January 31, 2020, provided that on or prior to December 31, 2019, Buyer delivers to Seller written notice of Buyer's intention to extend the Closing Date and Buyer deposits with Escrow Holder concurrently with such written notice an additional deposit, in cash or current funds, in the amount of One Million Dollars ($1,000,000.00)(the "Second Extension Deposit", and together with the First Extension Deposit, the “Extension Deposit”). The Extension Deposit, once made, shall be credited at the Close of Escrow towards the Purchase Price and will be treated as part of the Deposit.
Closing Date Extension. Seller, in its sole and absolute discretion, shall have the right, upon written notice to Purchaser at least two (2) Business Days prior to the Scheduled Closing Date, to adjourn the Scheduled Closing Date for up to thirty (30) days to deliver the Tenant Estoppel Certificates.
Closing Date Extension. The definition of “Closing Date” in paragraph 22 of Addendum I to the Purchase Agreement is hereby amended and restated in its entirety as follows:
Closing Date Extension. The Lender hereby agrees that the date referred to in clause 3.4 of the Facility Agreement is extended to 28 June 2013 (or such later date as may be agreed by the Lender).