Common use of Exercise of Option and Closing Clause in Contracts

Exercise of Option and Closing. The Option herein provided to the Optionee/Purchaser shall be exercised and the closing of this transaction shall occur either by the fact of concluding the purchase and taking possession within any Option period or by notice in writing to the Optionor/Seller within any Option period and with the fact of concluding the purchase and taking possession within sixty (60) days of such notice, at the time and place in Champaign County designated by Optionee/Purchaser.

Exercise of Option and Closing. The Option herein provided to the Optionee/Purchaser shall be exercised and the closing of this transaction shall occur either by the fact of concluding the purchase and taking possession within any Option period or by notice in writing to the Optionor/Seller within any Option period and with the fact of concluding the purchase and taking possession within sixty ninety (6090) days of such notice, at the time and place in Champaign County designated by Optionee/Purchaser.