Buyer’s Post-Closing Obligations. (a) If at any time subsequent to the Closing, Buyer comes into possession of money or property belonging to the Seller that was not previously accounted for by credit or adjustment according to this Agreement such money or other property shall be promptly delivered to the Seller.
Buyer’s Post-Closing Obligations. (a) If Buyer elects to extend, renew, substitute and/or replace any Lease, Buyer shall be obligated to assign to Seller the same overriding royalty interest originally retained by Seller in such Leases. See Article 2.2 (a) for additional terms and conditions regarding this obligation.
Buyer’s Post-Closing Obligations. Except to the extent such items have already been taken into account as an adjustment to the Purchase Price, all monies, proceeds, receipts, credits and income attributable to the Assets for all periods of time prior to the Effective Time shall be the property of Seller. If, at any time subsequent to the Closing, Buyer comes into possession of money or property belonging to the Seller attributable to ownership or operation of the Assets prior to the Effective Time, Buyer shall promptly deliver such money or other property to the Seller. Buyer shall allow Seller access to the Records during Buyer’s normal business hours after Closing in connection with any claims which Seller has retained under this Agreement, for the purpose of filing or amending a tax return or for any other legitimate business purpose; provided that any copies of Records made by Seller shall be at the sole expense of Seller.
Buyer’s Post-Closing Obligations. If at any time subsequent to the Closing, Buyer comes into possession of money or property belonging to the Seller such money or other property shall be promptly delivered to the Seller. By the consummation of the transactions contemplated hereby, Buyer assumes all duties and obligations of the owner of the Properties which accrue or arise from and after the Effective Time, and Buyer shall indemnify Seller from all loss, cost, expense (including attorney’s fees and expenses), penalties and liabilities arising from Buyer’s failure to perform such obligations.
Buyer’s Post-Closing Obligations. 7.1. Incorporation of Buyer's Obligations in Deed. The Deeds attached hereto as Exhibits F and G contain terms and provisions of certain obligations of Buyer after the Closing. Buyer hereby agrees that Buyer shall be obligated to comply with terms and provisions set forth in the Deeds.
Buyer’s Post-Closing Obligations. (a) Section 12 b. of the Agreement is hereby deleted in its entirety and the following substituted in place thereof: On or before February 28, 2021, Buyer agrees to commence development of a project at the Premises consisting of a multipurpose building with commercial retail space and rental housing units in substantially the form described in the description of the proposed project at the Premises that is attached hereto as Exhibit B and incorporated herein by reference (the “Project”). Buyer’s commencement of development of the Project shall be effected by Buyer or its successors, assigns, or transferees submitting a site plan review application (an “Application”) for the Project. The Project shall be deemed to be “in substantially the form described in Exhibit B” if it proposes to include (or is constructed to include): (i) multiple retail spaces; and (ii) an emphasis on rental housing. The Project may also be modified in a manner that is reasonably necessary for Buyer to obtain City Planning Board, City Council or any other municipal or other necessary approvals, which modifications may include, but not be limited to, reductions in the number of units for the Project or changes to the Project to account for setback requirements, height restrictions and/or agreements with any abutters, and the Project, if otherwise “in substantially the form shown in Exhibit B” shall, notwithstanding any such modifications, continue to be so considered. In addition, if Buyer determines that interest rates or community demand for the use of the Premises change or there are amendments to the Portland City Code such that Buyer wishes to make changes to the Project, or if Buyer wishes to make other changes to the Project, Buyer shall request the City’s approval of such changes. Buyer further agrees that the Project shall include no less than the minimum number of workforce housing units required by Portland City Code Section 14-487 and that Buyer shall not elect to pay the fee in lieu of providing any of the workforce housing units set forth in Section 14-487(e)(4). Nothing in this Agreement shall or is intended to relieve the Buyer of any of its obligations under Section 14-487 or any other applicable provisions of the City Code or applicable laws, rules, or regulations.
Buyer’s Post-Closing Obligations. The Buyer agrees to be bound, after the Closing, by the terms of the Note and the Loan Documents and hereby assumes, as of the Closing, all obligations of the Seller thereunder, including but not limited to loan administration and servicing obligations. The Buyer shall, immediately after the Closing, give notice of this Agreement to all Obligors, by certified United States Mail at (a) the most recent notice address of each of the Obligors provided in the Loan Documents, or (b) in the absence of a specified address in the Loan Documents for any Obligor, such Obligor's current or last known address of record. Buyer shall use best efforts to consummate a Refinancing, as such capitalized term is defined in the Purchase Note.
Buyer’s Post-Closing Obligations. Except to the extent such items have already been taken into account as an adjustment to the Purchase Price, all monies, proceeds, receipts, credits and income attributable to the Assets for all periods of time prior to the Effective Time that are discovered prior to the date that is six months after Closing shall be the property of Seller. If, at any time subsequent to the Closing but prior to the date that is six months after Closing, Buyer comes into possession of money or property belonging to the Seller attributable to ownership or operation of the Assets prior to the Effective Time, Buyer shall promptly deliver such money or other property to the Seller. Buyer shall allow Seller access to the Records during Buyer’s normal business hours after Closing in connection with any claims which Seller has retained under this Agreement, for the purpose of filing or amending a tax return or for any other legitimate business purpose; provided that any copies of Records made by Seller shall be at the sole expense of Seller.
Buyer’s Post-Closing Obligations. (a) Dealer Use of Trade Name. Buyer hereby grants to Seller's former dealers set forth on SCHEDULE 12.3 (the "Named Dealers"), effective upon completion of the Closing, a non-exclusive and non-transferable right and license to use the name "National Security 34 41 Containers," on Storage Units which, on the Closing Date, are subject to a lease or other rental arrangement entered into before the date of this Agreement or in possession of such Dealer at the time of Closing. Seller shall cooperate in good faith with Buyer enforcing its rights to the Trade Name, including without limitation making written demands on its current or former dealers (including without limitation the Named Dealers) to cease using the Trade Name in contravention of this Agreement or in a manner inconsistent with Buyer's ownership of the Trade Name, subject to the license granted pursuant to this Section 12.3. The right and license granted under this Section 12.3(a) shall terminate upon the earliest to occur of (i) October 25, 1999 or (ii) the termination of all of such leases or other rental arrangements which are in effect on the Closing Date; provided, however, that the right and license of the Named Dealers to maintain their "yellow page" advertising using the name "National Security Containers" shall only continue through the term of the existing yellow page advertisements, whether or not the term of such advertisement expires before or after the termination of the right and license under (i) or (ii) preceding.
Buyer’s Post-Closing Obligations
