Common use of Developer’s Contingencies Clause in Contracts

Developer’s Contingencies. The Developer’s obligation to close on the purchase of the Development Property is expressly conditioned upon each of the following contingencies being satisfied or waived: (a) obligations required to be performed by EDA under this Agreement as of the Closing Date, including but not limited to, delivery of all of the EDA’s Documents described in Section 4.5(2) hereof; and (b) the Developer shall have received all necessary rezoning, variances, conditional use permits and other permits, site plan and other approvals needed to permit the construction of the Project; and (c) the Developer shall have completed such environmental investigation (including soil conditions) with respect to the Development Property as it deems prudent and shall be satisfied with the results thereof; and (d) the Developer shall have obtained financing acceptable to the Developer for development of the Project; and (e) on the Closing Date, the Title Company shall be irrevocably committed to issue to Developer an owner’s policy of title insurance with respect to the Development Property in form and substance approved by Developer. If the Developer determines that any of the foregoing contingencies have not been satisfied on or before the Closing Date, the Developer may, at the option of the Developer, extend the Closing Date for a period of up to 90 days by giving written notice to the EDA.

Developer’s Contingencies. The Developer’s obligation to close on the purchase of the Development EDA Property is expressly conditioned upon each of the following contingencies being satisfied or waived: (a) obligations required to be performed by EDA under this Agreement as of the Closing Date, including but not limited to, delivery of all of the EDA’s Documents described in Section 4.5(2) hereof; and (b) the Developer shall have received all necessary rezoning, variances, conditional use permits and other permits, site plan and other approvals needed to permit the construction of the Project; and (c) the Developer shall have completed such environmental investigation (including soil conditions) with respect to the Development EDA Property as it deems prudent and shall be satisfied with the results thereof; and (d) the Developer shall have obtained financing acceptable to the Developer for development of the Project; and (e) on the Closing Date, the Title Company shall be irrevocably committed to issue to Developer an owner’s policy of title insurance with respect to the Development EDA Property in form and substance approved by Developer; and (f) the Parcel 2 Seller shall have deposited $50,000 in the Environmental Escrow Account to be applied in accordance with Section 4.8. If the Developer determines that any of the foregoing contingencies have not been satisfied on or before the Closing Date, the Developer may, at the option of the Developer, extend the Closing Date for a period of up to 90 days by giving written notice to the EDA.

Developer’s Contingencies. The Developer’s obligation to close on the purchase of the Development City Property is expressly conditioned upon each of the following contingencies being satisfied or waived: (a) obligations required to be performed by EDA City under this Agreement as of the Closing Date, including but not limited to, delivery of all of the EDACity’s Documents described in Section 4.5(24.4(2) hereof; and (b) the Developer shall have received all necessary rezoning, variances, conditional use permits and other permits, site plan and other approvals needed to permit the construction of the Project; and (c) the Developer shall have completed such environmental investigation (including soil conditions) with respect to the Development City Property as it deems prudent and shall be satisfied with the results thereof; and (d) the Developer shall have obtained financing acceptable to the Developer for development of the Project; and (e) on the Closing Date, the Title Company shall be irrevocably committed to issue to Developer an owner’s policy of title insurance with respect to the Development City Property in form and substance approved by Developer. If the Developer determines that any of the foregoing contingencies have not been satisfied on or before the Closing Date, the Developer may, at the option of the Developer, extend the Closing Date for a period of up to 90 days by giving written notice to the EDACity.