Termination; Postponement Sample Clauses

Termination; Postponement. (a) This Agreement shall terminate if the Closing has not occurred by the earlier of: (i) May 15, 1999 ; or (ii) if the FCC has denied the FCC Transfer Approval in an order that has become Final, or the FCC designates the FCC Applications for hearing, the date on which either Buyer or Seller gives notice to the other party that such party elects to terminate this Agreement. (b) If, no later than 90 days after the date of this Agreement, Buyer has provided the Seller with a written report by an approved consultant indicating, on the basis of a "Phase I" environmental study of the Real Property, that it is likely that a material Environmental Condition exists upon the Real Property, then Buyer shall have the right, by giving written notice to Seller, to terminate this Agreement.