Common use of Delays in Closing Clause in Contracts

Delays in Closing. The Closing shall occur on April 1, 1998. LESSEE shall have no right to Close the purchase of the Property absent simultaneously closing of the purchase of the land and improvements covered by the Second Lease. Any failure by LESSEE to close the purchase of the land and improvements covered by the Second Lease on April 1, 1998 shall be deemed a rescission of the exercise of the Option to Purchase the Property pursuant to Section 6.8 below.

Delays in Closing. The Closing shall occur on April 1, 1998. LESSEE shall have no right to Close the purchase of the Property absent simultaneously closing of the purchase of the land and improvements covered by the Second third building Lease which was executed by LESSOR and LESSEE and is dated July 28, 1988 (the "Third Lease"). Any failure by LESSEE to close the purchase of the land and improvements covered by the Second Third Lease on April 1, 1998 shall be deemed a rescission of the exercise of the Option to Purchase the Property pursuant to Section 6.8 below.