Common use of Scheduled Closing Date Clause in Contracts

Scheduled Closing Date. The later to occur of (a) fifteen (15) calendar days after Assumption Approval is received or (b) forty-five (45) calendar days after Buyer delivers written notice (the “Notice of Closing Date”) to Seller, in which latter case the Scheduled Closing Date shall be the date that is forty-five (45) days after the date on which the Notice of Closing Date is received by Seller, but in any event, not later than the Outside Closing Date. The Notice of Closing Date must be given not later than forty-five (45) days preceding the Outside Closing Date. If Buyer fails to deliver a Notice of Closing Date within the time stated above, the Scheduled Closing Date shall be the Outside Closing Date, and for purposes of Section 6.2, the Buyer shall be deemed to have provided the Notice of Closing Date on the date that is forty-five (45) days prior to the Outside Closing Date. Provided, Seller shall under either of the above scenarios have the right to extend the Scheduled Closing Date (and, if applicable, the Outside Closing Date) for a period of not more than ten (10) business days as provided in Section 6.3.