Back Stop Date definition
Examples of Back Stop Date in a sentence
Seller will enter into exclusive negotiation with Buyer with respect to the sale of each Aircraft until the Back Stop Date.
If the Aircraft Purchase Agreement has not been executed on or before the Back Stop Date, then either party can discontinue the negotiations by sending written notice to the other party (the "Discontinuation Notice").
It is the intent of Buyer and Seller that an aircraft sale and purchase agreement with respect to the Aircraft(the “Aircraft Purchase Agreement”)incorporating the terms of this Letter of Intent and other terms normal to these transactions shall be executed as soon as possible, but not later than [four (4)] weeks from the execution of this Letter of Intent (the "Back Stop Date").
For the avoidance of doubt, if any of the Conditions in Clause 2.1 is not fulfilled or waived (if capable of being waived) at or before 12 noon on the Extended Back Stop Date, or such later time and date as the Vendors, Vida and the Purchaser may agree in writing, this Agreement, subject to the provisions of Clause 17, shall terminate immediately and Clause 23 shall apply.
Redrow and Barratt hereby jointly and severally covenant with the Councils and the County Council to notify Chorley in writing of the occurrence of the Back Stop Date within ten (10) working days of the same occurring.