Common use of Option Extension Clause in Contracts

Option Extension. The Buyer shall have the right to extend the Option Exercise Deadline to June 30, 2022 provided that the Buyer purchases at least 4 Credits by the Option Exercise Deadline and deposits the Purchase Price, defined below, for such Credits into escrow at least seven (7) Business Days prior to the date of the Closing of such purchase (the date of such Closing is referred to below as the “Initial Closing Date”). The Buyer’s rights and Seller’s obligations to the remaining Credits are set forth in Section 5.