Option to Extend Closing Date Sample Clauses

Option to Extend Closing Date. Buyer shall, at its sole election and upon written notice to Seller and Title Company given no later than the date that is five (5) days prior to the Closing Date, have the right to extend the Closing Date for up to an additional thirty (30) days (the “Extended Closing Date”) for any reason whatsoever. In the event the Easement Condition (as defined in Section 9 below) is not satisfied on or before the Extended Closing Date, Buyer and Seller may, upon mutual agreement, extend the Extended Closing Date for up to an additional thirty (30) days to satisfy the Easement Condition in accordance with the terms contained in Section 9 below.

Option to Extend Closing Date. If the conditions to Buyer's obligations have not been satisfied on or before the Closing Date in all material respects solely by reason of Seller's failure to fulfill its obligations under this Section 9, Buyer shall have the option of continuing the Closing Date for a period not to exceed thirty (30) days to satisfy the conditions. This option is not an election of remedies; therefore, at any time after the original scheduled Closing Date if the conditions to Buyer's obligation to close which are unfulfilled obligations of Seller have not been satisfied, Buyer can elect to terminate this Contract and pursue its remedies against Seller for breach as provided in the case of pre-Closing default in this Contract.

Option to Extend Closing Date. Notwithstanding anything in this Agreement to the contrary, although the failure of any Party to satisfy their respective Conditions of Closing as set forth in Article 10 as of the Closing Date, or Article 10A as of 60 days subsequent to the date of execution of this Agreement, will, without further action of the Parties, result in termination of this Agreement, nothing herein shall prohibit the Parties from entering into a written agreement, containing any terms or conditions to which the Parties may mutually agree, to either (i) Close this Agreement in spite of the fact that a Condition of Closing has not been satisfied, or (ii) to extend the Closing Date and thereby postpone any termination of this Agreement.

Option to Extend Closing Date. The Purchase Agreement is amended to provide that Purchaser shall have the option to extend the Closing Date to July 15, 2011, by doing all of the following not later than three (3) Business Days before the original Closing Date: (i) Purchaser shall deliver written notice to Seller affirmatively electing to extend the Closing Date, and (ii) Purchaser shall deposit with the Title Company additional ▇▇▇▇▇▇▇ Money in the amount of $1,000,000.00 (the “Extension ▇▇▇▇▇▇▇ Money”). The Extension ▇▇▇▇▇▇▇ Money, together with interest thereon, shall be deemed part of the ▇▇▇▇▇▇▇ Money and shall be held and delivered by the Title Company in accordance with the Purchase Agreement, as amended hereby.

Option to Extend Closing Date. PURCHASER may seek up to five (5) options to extend the Closing Date by one (1) year extension periods (each singularly or severally referred to as an “Option to Extend”) upon the conditions set forth herein and subject to the payments set forth herein; provided PURCHASER, upon ten (10) calendar days prior written notice to SELLER, may elect to have the Closing occur upon a time and date set forth in such notice to SELLER. PURCHASER shall provide SELLER not less than twenty (20) calendar days advance written notice of its intent to exercise the first Option to Extend and seventy-five (75) calendar days advance written notice of its intent to exercise each subsequent Option to Extend and shall concurrently tender the applicable Option Payment to Escrow Holder. So long as PURCHASER is using commercially reasonable and diligent efforts to cause the commencement of construction of the Proposed Project, PURCHASER shall have a unilateral right to exercise its Option to Extend for years one and two. PURCHASER shall deposit with Escrow Holder a non-refundable (except as expressly provided in this Agreement) Option Payment of One Hundred Thousand Dollars ($100,000) for each of the first two Options to Extend for each one-year extension. Should PURCHASER desire further extensions beyond the first two Options to Extend, PURCHASER may request such further Option to Extend from SELLER which Option to Extend shall be subject to approval or denial by SELLER, all at SELLER’s reasonable discretion, it being understood and agreed that SELLER may not withhold its approval of an Option to Extend so long as PURCHASER is using diligent efforts in a commercially reasonable manner to cause the commencement of construction of the Proposed Project, all as determined by SELLER in its reasonable discretion. In no event shall SELLER be required to approve PURCHASER’s Option to Extend in years three, four, or five if PURCHASER has not submitted a development application to the City and is not diligently pursuing in a commercially reasonable manner the commencement of the construction of the Proposed Project, including, seeking entitlements and or financing. Upon SELLER’s express written approval of an Option to Extend for year three, four, or five, if at all, PURCHASER shall deposit with Escrow Holder a non-refundable (except as expressly provided in this Agreement) Option Payment of Three Hundred Thousand Dollars ($300,000) for a year three Option to Extend, Four Hundred Thousand Doll...

Option to Extend Closing Date. Purchaser shall have the option to extend the Closing Date for six (6) thirty (30) day periods on the following terms and conditions: (i) Purchaser shall give Seller notice of its election to extend the Closing Date not less than five (5) business days prior to the then scheduled Closing Date and (ii) the Purchase Price will be adjusted pursuant to Schedule 1 attached hereto.