Additional Payments Due at Closing Clause Samples

Additional Payments Due at Closing. At the Closing, Kinross and FGMI shall also pay to Newmont, by wire transfer of immediately available funds, an amount equal to holding costs paid by Newmont to the lessors or grantors, or the United States or the State of Alaska or instrumentality thereof, to maintain the Property Agreements and the Claims ("Property Holding Costs") the due date of which occurs after April 30, 1999 and on or before the Closing Date. Newmont shall not be entitled to reimbursement for any Property Holding Costs paid by Newmont, or becoming due, prior to May 1, 1999, nor for any property taxes paid prior to the Closing Date. Upon Closing, Kinross and FGMI shall be fully responsible for all Property Holding Costs, property taxes, and all other obligations and liabilities relating to the Properties or the Property Agreements that become due after the Closing Date, regardless of whether such costs, taxes, obligations, or liabilities accrued prior to the Closing Date. At least five days prior to the Closing Date, Newmont shall provide written notice to Kinross of the amount due at the Closing under this Section 3.2.