Champions Village Sample Clauses

Champions Village. Notwithstanding anything to the contrary provided in this Agreement, Seller shall have the right to terminate this Agreement as to the Champions Village Real Property, the Champions Village Improvements and all Property related thereto (the “Champions Property”) at any time prior to the date which is ninety (90) days following the Effective Date (the “Champions Exercise Date”) upon delivery of written notice to Purchaser. Seller and Purchaser acknowledge that $52,000,000 of the Purchase Price and $2,500,000 of the Xxxxxxx Money Deposit have been allocated to the Champions Property, and if Seller exercises its termination right hereunder, (x) the Purchase Price shall be reduced by such allocated amount, (y) such amount of the Xxxxxxx Money Deposit shall immediately be returned to Purchaser, and (z) Seller shall be obligated to promptly pay to Purchaser the sum of $125,000.00 as consideration for Purchaser’s pursuit of its acquisition of the Champions Property. On the Closing Date, Seller and Purchaser shall close as to the Oak Park Property as well as the Other Properties, but (i) the portion of the Xxxxxxx Money Deposit related to the Champions Property shall remain with the Title Company, and (ii) the closing and funding as to the Champions Property shall be delayed until the Champions Closing Date (hereinafter defined). The Closing with respect to the Champions Property shall occur not later than the date that is sixty (60) days following the first to occur of (1) the date that 40 Purchaser receives written notice from Seller of Seller’s waiver of its termination right under this Section 10.13, and (2) the Champions Exercise Date, or such earlier or later date as mutually agreed upon by Seller and Purchaser (such date, the “Champions Closing Date”), and the portion of the Xxxxxxx Money Deposit related to the Champions Property shall be applied against the Purchase Price for the Champions Property at Closing. Without limiting any other provisions of this Agreement, Seller hereby acknowledges and agrees that Seller shall not deliver the estoppel certificates to the Tenants of the Champions Property for execution until the later to occur of (a) the expiration of the Property Approval Period, and (b) the date that Purchaser receives written notice from Seller of Seller’s waiver of its termination right under this Section 10.13 (or the Champions Exercise Date if no such waiver occurs). Notwithstanding anything to the contrary provided in this Agreement, the C...
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