Common use of Date and Manner of Closing Clause in Contracts

Date and Manner of Closing. The closing of the transaction contemplated by this Agreement (the “Closing”) will occur through an escrow with Escrow Agent, no later than 2:00 P.M. Atlanta, Georgia local time on the date that is sixty (60) days following the Assumption Start Date (the “Closing Date”) or such earlier or later date as is agreed by the parties in writing, provided, in the event that either of the Existing Debt lenders is not ready to close the Existing Debt Assumption and Release related to their Existing Debt, notwithstanding that Purchaser has complied in good faith with all of its obligations hereunder with respect to the Existing Debt Assumption and Release set forth in Section 4.4 hereof, Purchaser shall have the one-time right to extend the Closing Date for up to fifteen (15) days provided Purchaser has given Seller written notice of Purchaser’s desire for such extension no less than five (5) business days prior to the then scheduled Closing Date. Notwithstanding the foregoing, Seller shall have the right to extend the Closing Date for up to fifteen (15) business days in order to obtain the Required Tenant Estoppel Certificates by delivering written notice of such extension to Purchaser prior to the original Closing Date.