Land PSA definition
Examples of Land PSA in a sentence
If, at any time on or prior to the Closing Date, the Other Land PSA is terminated, this Agreement shall automatically terminate; provided that such termination shall not relieve either party hereto for liability hereunder that pursuant to the express terms hereof survives termination hereof.
The closing under the Other Land PSA shall be consummated concurrently with the Closing hereunder.
Seller may exercise such right by giving written notice of such exercise to Buyer (the “Call Right Notice”) no later than ten (10) Business Days after the Other Land PSA Termination Date, TIME BEING OF THE ESSENCE (such date, the “Call Right Notice Deadline”).
The parties acknowledge and agree that this Agreement and the Other Land PSA were negotiated collectively, and the parties would not have entered into this Agreement if the Other Land PSA were not entered into concurrently herewith.
Notwithstanding anything to the contrary set forth in this Agreement, any termination of the Other Land PSA pursuant to Section 11.1 of the Other Land PSA shall not be deemed a termination for the purposes of this Section 11.18, and this Agreement shall not be automatically terminated under such circumstances.
For purposes of this Agreement, “Other Land PSA Termination Date” shall mean June 30, 2019, or such earlier date on which the Other Land PSA is terminated pursuant to its terms, provided such earlier termination is confirmed in a written notice by the terminating party that specifies such earlier termination date.
Buyer may exercise such right by giving written notice of such exercise to Seller (the “Put Right Notice”) no later than ten (10) Business Days after the Other Land PSA Termination Date, TIME BEING OF THE ESSENCE (such date, the “Put Right Notice Deadline”).
Any substitute identical agreement entered into pursuant to Section 11.1 of the Other Land PSA shall be deemed the “Other Land PSA” for the purposes of this Agreement.
The Closing shall be adjourned as and when the Closing under the Other Land PSA is adjourned, provided that in no event shall the Closing Date be adjourned beyond December 28, 2017.
Prior to entering into this transaction, Buyer and Seller have discussed the fact that substantial damages will be suffered by Buyer if Seller shall default in its obligation to sell the Property under this Agreement when required hereunder or the Other Land Buyer shall default in its obligation to purchase the Other Land Property under the Other Land PSA when required thereunder.