Current Needs Sample Clauses

Current Needs. Seller shall complete those repairs set forth on Exhibit “A” attached hereto and by this reference incorporated herein (each a “Repair” and together the “Repairs”) to the reasonable satisfaction of Purchaser on or before the Closing Date. Except as otherwise set forth herein, in the event that any Repair is not completed on or before the Closing Date, Purchaser shall receive a credit towards the Purchase Price in an amount equal to the value of those Repairs not completed. Purchaser agrees and acknowledges that those Repairs relating to the sewer plant located on the Real Property (as more particularly detailed on Exhibit “A”, the “Sewer Repairs”) may not be completed prior to Closing. Seller shall complete the Sewer Repairs in a good and workmanlike manner, free of all liens and encumbrances, and in accordance with all Applicable Laws and all plans and specifications for the same provided to, and approved in writing by, Purchaser as of the date hereof, on or before December 31, 2006. In the event that the Sewer Repairs are not so completed on or before December 31, 2006, Purchaser shall be entitled to cause the Sewer Repairs to be completed and Seller shall promptly pay all costs and expenses in connection therewith. In the event that Seller does not pay such costs and expenses in accordance with the preceding sentence, Purchaser shall be entitled to draw upon the Seller’s Escrow to pay such costs and expenses. No changes may be made to any plans and specifications for the Sewer Repairs previously approved by Purchaser without the prior written consent of Purchaser, which consent shall not be unreasonably be withheld, conditioned or delayed. In addition, in the event that the Sewer Repairs are not completed prior to December 31, 2006, Seller shall: (i) assign to Purchaser all plans and specifications relating to the Sewer Repairs, and (ii) indemnify, save, insure, pay, defend and hold harmless Purchaser’s Indemnitees in accordance with Article 12 of the APA from and against any Indemnification Loss incurred by Purchaser’s Indemnitee arising from or in connection with Seller’s failure to complete such Sewer Repairs prior to December 31, 2006, including, without limitation, any costs incurred by Purchaser in completing such Sewer Repairs. Upon delivery of evidence of actual out of pocket expenditures on the Sewer Repairs by Seller to Purchaser, Purchaser shall authorize Escrow Agent to release to Seller from Seller’s Escrow an amount equal to such amount of...

Current Needs. The company has a finance lease on a vehicle (Honda Finance) as well as a rental agreement (Ciga Finance Limited) on another vehicle. The lease is for a 3 year period commencing December 1996. The company has a lease to own agreement (with Equipment Finance Limited) for a drum scanner which commenced 27/9/96 and is for a 3 years.