Surviving Clauses. The provisions of this Agreement relating to Purchaser’s indemnification with respect to its entering upon the Property as set forth in Section 13 prior to Closing, Seller’s representations, covenants, warranties in Section 11, Purchaser’s representations, covenants, and warranties in Section 11.1, Seller’s agreement to cooperate with a Rule 3-14 audit, and Seller’s covenant not to encumber the Property subsequent to the date hereof, and the mutual covenants of Seller and Purchaser to indemnify each other, as the case may be, as set forth in Sections 12 and 13, shall not merge into the Deed but instead shall survive any Closing pursuant to this Agreement. Except as set forth in the preceding sentence or as otherwise expressly set forth herein, no other provision of this Agreement shall survive the Closing of this transaction provided, however, that any action, suit or proceeding with respect to the truth, accuracy or completeness of any such representations and warranties shall be commenced, if at all, on or before the date which is eighteen (18) months after the date of the Closing and, if not commenced on or before such date, thereafter will be void and of no force or effect.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (GLADSTONE LAND Corp), Purchase and Sale Agreement (GLADSTONE LAND Corp)
Surviving Clauses. The provisions of this Agreement relating to Purchaser’s indemnification with respect to its entering upon the Property as set forth in Section 13 prior to Closing, Seller’s representations, covenants, and warranties in Section 11, Purchaser’s representations, covenants, and warranties in Section 11.1, Seller’s agreement to cooperate with a Rule 3-14 audit, and Seller’s covenant not to encumber the Property subsequent to the date hereof, and the mutual covenants of Seller and Purchaser to indemnify each other, as the case may be, as set forth in Sections 12 and 13Section 12, shall not merge into the Deed but instead shall survive any Closing pursuant to this Agreement. Except as set forth in the preceding sentence or as otherwise expressly set forth herein, no other provision of this Agreement shall survive the Closing of this transaction provided, however, that any action, suit or proceeding with respect to the truth, accuracy or completeness of any such representations and warranties shall be commenced, if at all, on or before the date which is eighteen (18) months after the date of the Closing and, if not commenced on or before such date, thereafter will be void and of no force or effect.
Appears in 1 contract
Sources: Agreement of Purchase and Sale (GLADSTONE LAND Corp)
Surviving Clauses. The provisions of this Agreement relating to Purchaser’s indemnification with respect to its entering upon the Property as set forth in Section 13 prior to Closing, Seller’s representations, covenants, warranties in Section 11, Purchaser’s representations, covenants, and warranties in Section 11.1, Seller’s agreement to cooperate with a Rule 3-14 audit, and Seller’s covenant not to encumber the Property subsequent to the date 001/16597.001/EscrowPhase3/PSA4.1(hhb) hereof, and the mutual covenants of Seller and Purchaser to indemnify each other, as the case may be, as set forth in Sections 12 and 13, shall not merge into the Deed but instead shall survive any Closing pursuant to this Agreement. Except as set forth in the preceding sentence or as otherwise expressly set forth herein, no other provision of this Agreement shall survive the Closing of this transaction provided, however, that any action, suit or proceeding with respect to the truth, accuracy or completeness of any such representations and warranties shall be commenced, if at all, on or before the date which is eighteen (18) months after the date of the Closing and, if not commenced on or before such date, thereafter will be void and of no force or effect.
Appears in 1 contract