Common use of Takedown Clause in Contracts

Takedown. The initial closing of 10 Lots (the "Initial Closing") shall occur within thirty (30) days of Seller's satisfaction of the Conditions to Closing (hereinafter defined). The remainder of the Lots will be settled upon at a rate of 8 per quarter commencing one hundred eighty (180) days after the Initial Closing and continuing thereafter until all Lots are purchased. Purchaser reserves the right to accelerate the Takedown schedule.

Takedown. The initial initial, closing of 10 Lots (the "Initial Closing") shall occur within thirty (30) days of Seller's satisfaction of the Conditions to Closing (hereinafter defined). The remainder of the Lots will be settled upon at a rate of 8 per quarter commencing one hundred eighty (180) days after the Initial Closing and continuing thereafter until all Lots are purchased. Purchaser reserves the right to accelerate the Takedown schedule.