Closing and Escrow Arrangements. As soon as practicable after the execution of this Agreement, each of the Seller will deliver, or cause to be delivered to Arter & Haxxxx, LLX (xxx "Escrow Agent") duly authenticated certificates and assignments representing the Tamboril Securities and Tamboril Claims, all duly executed for transfer, and the Purchasers will each deliver, or cause to be delivered to the Escrow Agent good funds in the amount of $50, or $100 in the aggregate. Upon the due receipt of all required payments, stock certificates and assignments, the Escrow Agent shall conduct a final closing of the transaction and distribute the payment funds, stock certificates and assignments to the persons entitled thereto under the terms of this Agreement.
Closing and Escrow Arrangements. Escrow for the purchase and sale contemplated by this Agreement shall be opened by Buyer and Seller with Title Company. Closing of the transaction contemplated by this Agreement shall occur on the Closing Date, subject to (i) Buyer's right to extend the Closing Date to November 30, 2001 by delivering to Seller on or before October 21, 2001, written notice of Buyer's election to extend the Closing Date, (ii) Buyer's right to extend the Closing Date for certain Properties only as provided in Section 3.2(c), (iii) Seller's right to extend the Closing Date for certain Properties only as provided in Sections 3.2(b) and 3.2(c) and (iv) Seller's right to extend the Closing Date for the Property commonly referred to as Ontario Village as provided in Section 2.7(a). Upon exercise by Buyer of its option to extend pursuant to clause (i) above, the term "Closing Date" shall mean November 30, 2001 as to the affected Properties only and upon exercise by Buyer of its option to extend pursuant to clause (ii) above, the term "Closing Date" shall mean the date to which such Closing is deferred pursuant to the applicable Section 3.2(c) as to the affected Properties only. Upon exercise by Seller of its option to delay Closing pursuant to Sections 3.2(b), 3.2(c) and 2.7(a) as to the affected Properties only, the term "Closing Date" shall mean the date to which such Closing is deferred pursuant to the applicable subsections of Section 3.2 or Section 2.7(a). At least one business day prior to the Closing Date, Seller and Buyer shall each deliver escrow instructions to Title Company consistent with this Article 6, and designating Title Company as the "Reporting Person" for the transaction pursuant to Section 6045(e) of the Code. By signing below, Title Company agrees to act as the "Reporting Person" for the transaction pursuant to Section 6045(e) of the Code and to complete and file with the IRS Forms 1099-S (and furnish Buyer and Seller with copies thereof) on or before the due date therefor. In addition, the parties shall deposit in escrow, at least one business day prior to the Closing Date (unless otherwise provided below in this Section 6.1) the funds and documents, to the extent applicable, for the Property or Properties that are the subject of such Closing as described below:
Closing and Escrow Arrangements. As soon as practicable after the execution of this Agreement, but no later than November 24, 2003, the Sellers will deliver, or cause to be delivered to Xxxxxxxx Xxxxx, attorney (the "Escrow Agent"):
