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<br />3 <br /> <br />(30) days’ notice of the anticipated Closing Date. In the event that the Closing has not occurred on <br />or prior to the Outside Closing Date, either Party not then in default may, upon five (5) days’ <br />advance written notice to the other Party, terminate this Agreement. Upon any such termination of <br />this Agreement, neither Party shall have any further rights or obligations hereunder, except for the <br />rights and obligations expressly provided to survive termination of this Agreement. <br />4.2 City’s Conditions to Closing. City's obligation to purchase the Restaurant <br />FF&E and assume the Lease is subject to the satisfaction of all of the following conditions or City's <br />written waiver (in City’s sole discretion) of such conditions on or before the Outside Closing Date: <br /> <br />(a) Expiration of the Due Diligence Contingency Period with no exercise <br />by City of its rights under this Agreement to terminate this Agreement. <br /> <br />(b) Seller has delivered to City a fully executed “Bill of Sale” (as defined <br />in Section 4.4 below) and a fully executed “Assignment of Lease” (as defined in Section 4.5 below). <br /> <br />(c) Seller's representations and warranties herein are true and correct in all <br />material respects as of the Closing Date. <br /> <br />(d) Seller has performed all obligations to be performed by Seller pursuant <br />to this Agreement, and Seller is not in Default as of the Closing Date. <br /> <br />(e) Possession of the Restaurant FF&E will be delivered to City <br />immediately upon the Closing, free and clear of all liens and financial obligations. <br /> <br />(f) Seller shall have removed from the Restaurant all waste and debris, if <br />any. <br /> <br />(g) There shall be no litigation or administrative proceeding pending with <br />respect to the Restaurant or Restaurant FF&E as of the Closing which would adversely impact the <br />use or value of the Restaurant FF&E. <br /> <br />4.3 Seller’s Conditions to Closing. The Closing and Seller's obligation to sell <br />and convey the Restaurant FF&E to City and assign the Lease to Seller are subject to the satisfaction <br />of the following conditions or Seller's written waiver (in Seller’s sole discretion) of such conditions <br />on or before the Outside Closing Date: <br /> <br />(a) City has delivered the full amount of the Purchase Price to Seller, and <br />all other costs required by this Agreement to be paid by City. <br /> <br />(b) City's representations and warranties set forth herein are true and <br />correct in all material respects as of the Closing Date. <br /> <br />(c) City has performed all obligations to be performed by City pursuant to <br />this Agreement on or before the Closing Date. <br /> DRAFT