Common use of Like-Kind Exchanges Clause in Contracts

Like-Kind Exchanges. Each of Buyer and Seller may elect to exchange the Real Property for other real estate of a like kind in accordance with Section 1031 of the Internal Revenue Code of 1986 as amended (the “Code”). To the extent possible, the provisions of this Section will be interpreted consistently with this intent. To exercise any rights under this Section, the party electing to exchange the Real Property shall provide the other with a written statement stating its intent to enter into an exchange at least five (5) days prior to Settlement. Either party’s election to exchange, rather than sell or buy, the Real Property for other real estate of a like kind will be at no cost or liability to the other. Should this Agreement become part of a 1031 transaction, the party electing to exchange the Real Property (the “Exchangor”) hereby agrees that the other party may enforce any and all representations, warranties, covenants and other obligations of the Exchangor under this Agreement directly against Exchangor, and the other party agrees that Exchangor may enforce any and all representations, warranties, covenants and other obligations of the other party under this Agreement directly against the other party.

Like-Kind Exchanges. Each of Buyer and or Seller may elect to exchange the Real Property for other real estate of a like kind in accordance with Section 1031 of the Internal Revenue Code of 1986 as amended (the “"Code”"). To the extent possible, the provisions of this Section will 20 shall be interpreted consistently with this intent. To exercise any rights under this SectionSection 20, the party electing to exchange the Real Property shall provide the other with a written statement stating its intent to enter into an exchange at least five (5) days prior to Settlement. Either party’s 's election to exchange, rather than sell or buy, the Real Property for other real estate of a like kind will shall be at no cost or liability to the other. Should this Agreement become part of a 1031 transaction, the party electing to exchange the Real Property (the “Exchangor”"Exchanger") hereby agrees that the other party may enforce any and all representations, warranties, covenants and other obligations of the Exchangor Exchanger under this Agreement directly against ExchangorExchanger, and the other party agrees that Exchangor Exchanger may enforce any and all representations, warranties, covenants and other obligations of the other party under this Agreement directly against the other party.

Like-Kind Exchanges. Each of Buyer and or Seller may elect to exchange the Real Property for other real estate of a like kind in accordance with Section 1031 of the Internal Revenue Code of 1986 as amended (the “"Code”"). To the extent possible, the provisions of this Section will shall be interpreted consistently with this intent. To exercise any rights under this Section, the party electing to exchange the Real Property shall provide the other with a written statement stating its intent to enter into an exchange at least five (5) business days prior to Settlement. Either party’s 's election to exchange, rather than sell or buy, the Real Property for other real estate of a like kind will shall be at no cost or liability to the other. Should this Agreement become part of a 1031 transaction, the party electing to exchange the Real Property (the “Exchangor”"Exchanger") hereby agrees that the other party may enforce any and all representations, warranties, covenants and other obligations of the Exchangor Exchanger under this Agreement directly against ExchangorExchanger, and the other party agrees that Exchangor Exchanger may enforce any and all representations, warranties, covenants and other obligations of the other party under this Agreement directly against the other party.

Like-Kind Exchanges. Each of Buyer and or Seller may elect to exchange the Real Property for other real estate of a like kind in accordance with Section 1031 of the Internal Revenue Code of 1986 as amended (the “Code”). To the extent possible, the provisions of this Section will shall be interpreted consistently with this intent. To exercise any rights under this Section, the party electing to exchange the Real Property shall provide the other with a written statement stating its intent to enter into an exchange at least five (5) days prior to Settlement. Either party’s election to exchange, rather than sell or buy, the Real Property for other real estate of a like kind will shall be at no cost or liability to the other. Should this Agreement become part of a 1031 transaction, the party electing to exchange the Real Property (the “ExchangorExchanger”) hereby agrees that the other party may enforce any and all representations, warranties, covenants and other obligations of the Exchangor Exchanger under this Agreement directly against ExchangorExchanger, and the other party agrees that Exchangor Exchanger may enforce any and all representations, warranties, covenants and other obligations of the other party under this Agreement directly against the other party.