Purchase Agreement Terms Requirement Sample Clauses

Purchase Agreement Terms Requirement. The purchase and sale agreement to be used for the sale of each Below Market Unit by Developer to the Eligible Purchaser shall be in the form approved for the Project by the California Bureau of Real Estate, and shall contain reasonable and market sensitive requirements for (1) opening the escrow; (2) obtaining first mortgage approval; and (3) any other matters of timing determined by Developer to be reasonable. The purchase and sale agreement shall provide that all conditions to closing shall be satisfied and the close of escrow shall occur by not later than the ninetieth (90th) day (or the first business day thereafter, if the ninetieth (90th) day is a Saturday, Sunday, or holiday) after execution of the purchase and sale agreement, and shall further provide that Developer shall have the right to terminate the agreement if closing does not occur on or before such deadline unless Developer obtains written City approval of an extension of the closing date, upon recommendation by the Administrator. Unless City provides written approval of an extension, Developer shall terminate any contract that does not close within this deadline. Upon such termination, all consideration posted by the Eligible Purchaser shall be returned, the purchase agreement shall be null and void, and Developer shall have the right to sell the Below Market Unit to another Eligible Purchaser. Under such circumstances, the City will direct the Administrator to begin immediately to identify the next priority Eligible Purchaser or to find another Eligible Purchaser
Sample 1
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Related to Purchase Agreement Terms Requirement

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  • Indemnity for Underlying Sales and Supplemental Agreements Vendor shall be solely responsible for any customer claims or any disputes arising out of TIPS Sales or any Supplemental Agreement as if sold in the open-market. The Parties agree that TIPS shall not be liable for any claims arising out of Vendor’s TIPS Sales or Supplemental Agreements, including but not limited to: allegations of product defect or insufficiency, allegations of service defect or insufficiency, allegations regarding delivery defect or insufficiency, allegations of fraud or misrepresentation, allegations regarding pricing or amounts owed for TIPS sales, and/or allegations regarding payment, over-payment, under-payment, or non-payment for TIPS Sales. Payment/Drafting, overpayment/over-drafting, under- payment/under-drafting, or non-payment for TIPS Sales between customer and Vendor and inspections, rejections, or acceptance of such purchases shall be the exclusive respective obligations of Vendor/Customer, and disputes shall be handled in accordance with the terms of the underlying Supplemental Agreement(s) entered into between Vendor and Customer. Vendor acknowledges that TIPS is not a dealer, subcontractor, agent, or reseller of Vendor’s goods and services and shall not be responsible for any claims arising out of alleged insufficiencies or defects in Vendor’s goods and services, should any arise.

  • Standard Terms and Conditions Executive expressly understands and acknowledges that the Standard Terms and Conditions attached hereto are incorporated herein by reference, deemed a part of this Agreement and are binding and enforceable provisions of this Agreement. References to “this Agreement” or the use of the term “hereof” shall refer to this Agreement and the Standard Terms and Conditions attached hereto, taken as a whole.

  • Miscellaneous Terms and Conditions The following terms and conditions also apply.

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