Close of Escrow. The Escrow Agent shall agree in writing with Seller and Purchaser that (a) recordation of the Deed constitutes its representation that it is holding the closing documents, closing funds and closing statements and is prepared and irrevocably committed to disburse the closing funds in accordance with the closing statements and (b) release of funds to Seller shall irrevocably commit Title Company to issue the Title Policy in accordance with this Contract. Upon satisfaction or completion of the foregoing conditions and deliveries, the parties shall direct the Escrow Agent to immediately record and deliver the documents described above to the appropriate parties and make disbursements according to the closing statements executed by Seller and Purchaser and in accordance with escrow instructions by each party consistent with this Contract.
Appears in 3 contracts
Samples: Improved Commercial Property Earnest Money Contract, Improved Commercial Property Earnest Money Contract (Resource Real Estate Opportunity REIT, Inc.), Improved Commercial Property Earnest Money Contract (Resource Real Estate Opportunity REIT, Inc.)
Close of Escrow. The Escrow Agent Title Agent, as agent for the Title Company, shall agree in writing with Seller and Purchaser that (a1) recordation of the Deed constitutes its representation that it is holding the closing documents, closing funds and closing statements statement and is prepared and irrevocably committed to disburse the closing funds in accordance with the closing statements and (b2) release of funds to the Seller shall irrevocably commit Title Company it to issue the Title Policy in accordance with this ContractAgreement. Upon satisfaction or completion of the foregoing conditions and deliveries, the parties shall direct the Escrow Title Agent to immediately record and deliver the documents described above to the appropriate parties and make disbursements according to the closing statements executed by Seller and Purchaser and in accordance with escrow instructions by each party consistent with this ContractAgreement.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Morgans Hotel Group Co.)
Close of Escrow. The Escrow Agent Agent, as agent for the Title Company, shall agree in writing with Seller and Purchaser that (a1) recordation of the Deed constitutes its representation that it is holding the closing documents, closing funds and closing statements statement and is prepared and irrevocably committed to disburse the closing funds in accordance with the closing statements and (b2) release of closing funds to the Seller shall irrevocably commit Title Company it to issue the Title Policy in accordance with this ContractAgreement. Upon satisfaction or completion of the foregoing conditions and deliveries, the parties shall direct the Escrow Agent to immediately record and deliver the documents described above to the appropriate parties and make disbursements according to the closing statements executed by Seller and Purchaser and in accordance with escrow instructions by each party consistent with this ContractAgreement.
Appears in 1 contract
Close of Escrow. The Escrow Agent shall agree in writing with Seller and Purchaser that (a) recordation of the Deed constitutes its representation that it is holding the closing documents, closing funds and closing statements statement and is prepared and irrevocably committed to disburse the closing funds in accordance with the closing statements and (b) release of funds to the Seller shall irrevocably commit Title Company it to issue the Title Policy in accordance with this Contract. Upon satisfaction or completion of the foregoing conditions and deliveries, the parties shall direct the Escrow Agent to immediately record and deliver the documents described above to the appropriate parties and make disbursements according to the closing statements executed by Seller and Purchaser and in accordance with escrow instructions by each party consistent with this Contract.
Appears in 1 contract
Samples: Real Estate Contract (Resource Apartment REIT III, Inc.)