TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice, this Contract shall be terminated and the Xxxxxxx Money Deposit shall be refunded to Buyer.
TIME BEING OF THE ESSENCE in connection with the exercise of Tenant's option pursuant to this Article.
TIME BEING OF THE ESSENCE. Seller shall exercise commercially reasonable efforts (which shall not require the institution of litigation or any other legal proceeding) in removing any Removable Exceptions (hereinafter defined) and any Exceptions that Seller elects to remove at Seller’s cost pursuant to this Section 13. Subject to Section 13(B) hereof and Section 13(C) hereof, if Seller is unable, or elects not to attempt, to eliminate an Exception (which is not a Permitted Exception or a Removable Exception), or if Seller elects to attempt to eliminate any Exception (which is not a Permitted Exception or a Removable Exception) but is unable to do so or thereafter decides not to eliminate the same, and accordingly, is unable to convey title to the Premises in accordance with the provisions of this Agreement, then in either case Seller shall so notify Purchaser within the earlier to occur of (I) five (5) business days following receipt of Purchaser’s notification of such exception and (II) the second to last business day prior to the Closing Date (unless Seller receives Purchaser’s notification on the second to last business day or last business day prior to the Closing Date, in which case Seller shall have until the Closing Date to respond). Purchaser, within the earlier to occur of (A) five (5) business days after receipt of such notice from Seller and (B) the last business day prior to the Closing Date (unless Purchaser receives Seller’s notice on the last business day prior to the Closing Date or on the Closing Date, in which case the Closing Date shall be extended for one (1) business day), shall elect, at Purchaser’s option, to either (i) terminate this Agreement by notice given to Seller (TIME BEING OF THE ESSENCE with respect to Purchaser’s notice), in which event the provisions of Article 14 of this Agreement shall apply, or (ii) to accept title to the Premises subject to such exceptions, without any abatement of the Purchase Price. If Purchaser shall not notify Seller of such election within such period, TIME BEING OF THE ESSENCE, Purchaser shall be deemed to have elected clause (ii) above with the same force and effect as if Purchaser had elected clause (ii) within such period.
TIME BEING OF THE ESSENCE. The failure of Borrower to cause or perform any action to be caused or performed by Borrower under the Loan Security Documents in a timely manner; or Borrower's failure to present to Lender satisfactory evidence of Borrower's otherwise timely action.
TIME BEING OF THE ESSENCE. In consideration thereof, Borrower shall pay Administrative Agent (for the benefit of Lender) the Extension Fee on or prior to the first day of the Extended Term, which Extension Fee shall be earned by Xxxxxx as of the date of the Extension Notice; provided, however, if Borrower does not satisfy the Extension Conditions below, no Extension Fee shall be payable, although Borrower shall remain liable for the payment of the costs set forth in Section 2.4(b)(x). In connection with the exercise by Borrower of each Extension Option, Borrower must satisfy each of the following conditions (the “Extension Conditions”):
TIME BEING OF THE ESSENCE. (c) If Tenant does not timely deliver an acceptance notice or, prior to the last day on which an effective acceptance notice may be delivered, waives its right in writing (or is deemed to waive its right) to purchase the Premises, then Landlord shall, subject to the terms and conditions of Section 27.02(d) below, be free to sell the Premises to the Potential Purchaser at a price no less than ninety percent (90%) of the price set forth in the Offer Notice or on terms which, taken as a whole, are not materially more favorable to the Potential Purchaser than the terms stated in the Offer Notice. 58
TIME BEING OF THE ESSENCE. 11. The covenants, agreements, terms, provisions and conditions contained in this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
TIME BEING OF THE ESSENCE. The deposit shall constitute liquidated damages in the event Tenant, after exercising this option shall default and fail to close title. The parties agree that Landlord's actual damages may not be ascertainable and for that xxxxxx have agreed to this liquidated damage provision. The purchase price shall be Nine Million Three Hundred Forty-Three Thousand Seven Hundred Fifty ($9,343,750.00) Dollars. The purchase price shall be payable in full in lawful money of the United States of America by Tenant at the closing. Landlord shall deliver a Bargain anx Xxxx Deed with Covenants against Grantor's Acts, executed and acknowledged in recordable form, conveying the Land and Building. Title shall be conveyed free and clear of all liens, encumbrances, covenants, restrictions, easements and other matters of record, except all tenancies which may then be in existence and all matters of record at the time this Lease is executed (it being the intention of the parties that Landlord shall convey to Tenant title which is consistent with the title which exists at this time), current real property taxes and current assessments not yet due and payable, and anything whether of record or not of record which is in any way affects title resulting from the acts or omissions of Tenant. Landlord's title insurance policy is attached to and made part ox xxxx Xease as Exhibit "B". Tenant shall accept title subject to all matters set forth in Exhibit "B". All rent, utilities, real property taxes, insurance premiums and all other customary items for like properties shall be adjusted as of the date of the closing. Landlord shall pay the Realty Transfer Fee. Tenant shall pay all recording costs. Tenant shall not assign its interest, or any portion of its interest, in the option granted by this paragraph, except to an entity controlled by the Tenant or by its present majority shareholder, and then, only after the option is exercised and Tenant remains liable. If Tenant does not properly and timely exercise the option strictly in accordance with this Paragraph on or before November 30, 2003, Time Being of the Essence, then this option shall automatically expire. Subject to the provisions of the following subparagraphs, closing of title shall take place not later than the first day of the seventh (7th) month following Landlord's receipt of the option notice. After the first day of thx xxxxxxh month either Landlord or Tenant may declare Time to Be of the Essence for the closing of title by deli...
TIME BEING OF THE ESSENCE. TIME SHALL BE OF THE ESSENCE with regard to each date by which performance is required by Subtenant under the Prime Lease or this Sublease.
TIME BEING OF THE ESSENCE. (“Time of the Essence” date) at the offices of Xxxxxx X. Xxxxx, Esq. located at 000 Xxxxxxxx, XXX 00X, Xxxxxxxxxx XX 00000.
