The Closing shall take place at the offices of Escrow Company on the Closing Date, or through customary closing escrow arrangements reasonably acceptable to Seller and Purchaser by the delivery of documents and funds to Escrow Company on or prior to the Closing Date.  Subject to the terms and conditions set forth herein, Purchaser shall have the right to accelerate the Closing Date by providing written notice to Seller of such date, which date must be at least three (3) Business Days from the date such notice is delivered in accordance with the provisions of Section 13.1 ; provided, however, that Purchaser shall have the one-time right to revoke such acceleration notice and amend the proposed Closing Date by selecting another Business Day to be the Closing Date by delivering written notice to Seller at least two (2) days prior to the previously selected Closing Date (provided that such revised Closing Date is not later than January 29, 2016). Each of Purchaser and Seller acknowledges that its respective undertakings to close this transaction promptly on the Closing Date is a material inducement to the other to execute this Agreement, that time is of the essence and that neither party shall have any obligation or right to extend, postpone or reschedule the Closing, except as expressly set forth herein.  Subject to the terms and conditions set forth herein, Purchaser shall have the right to extend the Closing Date for a period of up to fourteen (14) days beyond the original Closing Date. To the extent Purchaser elects to extend the Closing Date pursuant to the preceding sentence, then as a condition precedent to the effectiveness of such extension, Purchaser shall (i) not later than three (3) Business Days prior to the original Closing Date (time being of the essence) deliver written notice of such extension to Seller and Escrow Agent and (ii) not later than two (2) Business Days before the original Closing Date deposit with Escrow Agent the additional sum of Seven Hundred Fifty Thousand and 00/100 Dollars ($750,000.00) by wire transfer of immediately available U.S. Federal funds which shall become part of the Deposit for all purposes under this Agreement and which shall be applied to the Purchase Price at Closing in accordance with the terms of this Agreement (the “ Closing Extension Deposit ”).