Company: MBIO
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001104659-25-018303
Chunk: 6

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-27
Form: 424B3
Chunk 6
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 the Escrow Agreement shall be fully executed and delivered by the parties thereto.                                        |

| 2. | Inspection of Leased Premises and FF&E. On or before the tenth (10th) business day                                                         
 following the Agreement Date (the “Anticipated Vacation Date”), Seller shall vacate the Leased Premises. Seller                            
 shall provide written notice to Buyer within one (1) business day of vacating the Leased Premises. Seller shall vacate the Leased Premises 
 no later than twenty (20) business days following the Agreement Date.                                                                      |

| A. | For the seven (7) business day period (the “Inspection Period”) following the                                                          
 date that is the later of (i) the date Buyer receives written notice from Seller that it has vacated the Leased Premises, and (ii) the 
 Anticipated Vacation Date, Buyer shall have the right to enter the Leased Premises to inspect the Leased Premises and FF&E. Prior      
 to the expiration of the Inspection Period, Buyer shall either (A) give Seller and Escrow Agent written notice (an “Acceptance         
 Notice”) stating that a Sufficient Percentage of the FF&E items listed in Attachment “1” are                                           
 present in the Leased Premises and functional for their intended purpose without the need for repair or replacement (“Acceptable       
 Condition”); or (B) give Seller and Escrow Agent written notice stating that the condition of the FF&E is not acceptable               
 and specifying the reasons therefor (a “Rejection Notice”). As used in the preceding sentence, “Sufficient                             
 Percentage” means at least ninety percent (90%) of the items listed in rows 415 through 428 on Attachment “1”                          
 (“Furniture Items”), and at least ninety (90%) of all FF&E items (including the Furniture Items) listed in Attachment                  
 “1”, are in Acceptable Condition.                                                                                                      |

| B. | If (i) Buyer gives Seller and Escrow Agent a Rejection Notice, and (ii) at least ninety percent (90%)                                   
 of the Furniture Items and at least seventy-five percent (75%) of all FF&E items (including the Furniture Items) listed in Attachment   
 “1” are in Acceptable Condition, the Purchase Price shall be reduced proportionally, calculated by multiplying the                      
 original $1,000,000 Purchase Price by the percentage of all FF&E items (including the Furniture Items) in Acceptable Condition, rounded