doesn´t this mean the loan has to be already secured?
4.11 Financial Ability. Within fifteen (15) days after the Effective Date, PHIL will obtain written binding commitments (the “Funding Commitments”) from third party financing sources to provide PHIL with the amounts of financing sufficient to fund the total amount of the Purchase Price at Closing and to otherwise perform its obligations with respect to the transactions contemplated by this Agreement (the “Financing”).
THIS AGREEMENT OF PURCHASE AND SALE (this “Agreement”) is effective as of January 26, 2022
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