In no event will any closings take place after the date (the "Latest Closing Date") which is 240 calendar days after the Effective Date.
If the undersigned's funds are held in escrow by the escrow agent on the business day after the Latest Closing Date, the escrow agent will return such funds to the undersigned by wire transfer to the account from which the funds were sent by the undersigned.
In the event that the Agreement is not consummated by the Latest Closing Date as it may be hereafter extended, the buyer and seller shall promptly return all nonpublic information, documents and other written information containing information obtained pursuant to this Letter of Intent, including any item obtained in any investigation permitted pursuant to this Letter of Intent, and any copies thereof.
The Closing shall take place at the offices of Lender, unless another location shall be agreed upon by Lender and Borrower, on a date and at a time mutually agreed by Lender and Borrower, except in no event later than the Latest Closing Date.
This Agreement may be terminated and the transactions contemplated hereby may be abandoned by action of the Company or Buyer if (i) the Closing shall not have occurred at or prior to 5:00 p.m., Central Daylight time, on May 15, 2003 (the Latest Closing Date).