Common use of College Station Clause in Contracts

College Station. The Sellers and the Buyer acknowledge that the Baylor College Station MOB is undergoing repairs from the vertical rise in the building slab-on-grade resulting from the introduction of moisture to expansive soils existing below the slab. Therefore, this Asset shall constitute a Deferred Asset until such time as the repairs are completed (which repairs shall be completed at the Sellers’ sole cost and expense), as evidenced by a certificate of substantial completion executed by the relevant Seller’s general contractor/architect; provided, however, that either the Sellers or the Buyer may terminate the applicable Serial Closing in respect of this Deferred Asset if such Serial Closing has not occurred on or prior to the eighteen (18) month anniversary of the date of this Agreement.