Common use of Conditions to Seller’s Obligations to Close Clause in Contracts

Conditions to Seller’s Obligations to Close. The obligations of Sellers to sell the Purchased Assets and to otherwise consummate the Closing shall be subject to the satisfaction (or waiver by Sellers) of the following conditions: The representations and warranties of Purchaser contained herein shall be true and correct in all respects at the Closing (without giving effect to any materiality, knowledge or Material Adverse Effect qualifications or exceptions contained in such representations and warranties), in each case with the same effect as though made at and as of such time (other than representations and warranties that are made as of a specific date, which need be true and correct as of such date), except where the failure to be true and correct has not had, and is not likely to have, a Material Adverse Effect. Purchaser shall have performed in all material respects all obligations and complied in all material respects with all covenants required by this Agreement to be performed or complied with by Purchaser at or prior to the Closing (except to the extent waived hereunder in writing by Sellers). Purchaser shall have delivered to Sellers a certificate, dated as of the Closing Date, executed by an officer of Purchaser to the effect that the conditions set forth in Sections 6.2(a) and 6.2(b) of this Agreement have been fulfilled.

Appears in 4 contracts

Samples: Asset Purchase Agreement (PLM Equipment Growth & Income Fund Vii), Asset Purchase Agreement (Professional Lease Management Income Fund I LLC), Asset Purchase Agreement (PLM Equipment Growth Fund Vi)

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