Examination Date definition
Examples of Examination Date in a sentence
Prior to the Examination Date, Seller may, without Purchaser’s consent, enter into Tenant Leases, amendments, expansions and renewals in Seller’s sole and absolute discretion.
Seller shall, however, provide written notice to Purchaser of any such Tenant Leases, amendments, expansions or renewals, and shall promptly provide copies to Purchaser of same but in no event later than five (5) business days prior to the Examination Date.
From and after the Examination Date, Seller authorizes Purchaser, at Purchaser’s expense, to participate in such condemnation proceedings to further and protect Purchaser’s interest in said proceedings and to prosecute any appeal and contest any compensation and award that Purchaser reasonably determines does not constitute the fair market value of the Property or any portion thereof taken or threatened to be taken.
If Purchaser does not elect in writing prior to 6:00 p.m., Atlanta, Georgia time on the Examination Date to terminate this Agreement, then it shall be determined that Purchaser’s findings upon inspection of the Property and examination of related documents and records furnished or made available by Seller are satisfactory and acceptable to it and that Purchaser intends to close.
On or before the Examination Date, Purchaser shall review the Commitment, documents and information pertaining to the exceptions to title listed in the Commitment and the Survey.
Between the Examination Date (if this Agreement has not been terminated pursuant to Section 15.2) and the Closing Date, without the prior consent of Purchaser, which shall not be unreasonably withheld or delayed, Seller will not enter into any contract that will be an obligation affecting the Property subsequent to such Closing, except contracts entered into in the ordinary course of business that are terminable either without cost or cause on 30-days’ notice.
If Seller has not received any such notice from Purchaser by the Examination Date, Purchaser shall be deemed to have elected to assume the obligations of Seller arising after the Closing Date under all the Service Contracts identified on Schedule 6.3.
If the Purchaser does not provide notice to Seller that the condition precedent in Section 15.1.1 is not satisfied on or prior to 6:00 p.m., Atlanta, Georgia time on the Examination Date, then the condition precedent shall be deemed waived and satisfied and Purchaser shall make the Additional ▇▇▇▇▇▇▇ Money deposit.
As to the Service Contracts identified on Schedule 6.3, by the Examination Date Purchaser shall notify Seller in writing as to which, if any, of such Service Contracts Purchaser does not wish to assume.
Purchaser may advise Seller in writing and in reasonable detail, not later than the Examination Date, as to what exceptions or other matters shown on the Commitment and/or Survey, if any, are not acceptable to Purchaser (collectively, the “Title Objections”).