Closing Conveyances. The Closing shall be held on the Closing Date at ------------------- a mutually acceptable location in Los Angeles County or Orange County. At the Closing, the City shall deliver to the Company such deeds, bills of sale, assignments, easements, and other instruments of transfer or conveyance (including those provided for in Section 2.5) as may be necessary to vest in the Company all of the City's title to the Water System. All such transfer documents shall be prepared by the attorneys for the Company and shall be in form and substance satisfactory to the City and the Company. The City shall draft the necessary documentation for the defeasance of the Water Revenue Bonds, and all transfer documents relating to real property and interests therein or releasing or reconveying the lien securing the Water Revenue Bonds shall be satisfactory to the Company and Chicago Title Company ("Chicago" or "Escrow Agent"). At the Closing, the Company shall also deliver to Escrow Agent the relevant Purchase Price and the reimbursement due to the City pursuant to Section 5.1 below (if not previously delivered to the City) in immediately available funds and each party shall deliver to Escrow Agent all other documents to be delivered by either party to the other pursuant to this Agreement. Promptly following such deliveries, the Escrow Agent shall record or file all documents to be recorded or filed, shall issue the policy of title insurance provided for in Section 5.8, shall, except as set forth in Section 5.2, deliver the Purchase Price to the City and shall deliver to the parties all other documents to be delivered to the parties pursuant to this Agreement. All documents to be delivered and the Purchase Price shall be deemed delivered concurrently.
Closing Conveyances at Closing The closing of the transactions ------------------------------- contemplated by this Stock Purchase Agreement shall take place as soon as practicable from the date hereof (the "Closing Date"). On the Closing Date, the Company shall deliver to Value Group the stock certificate representing the Shares, and Value Group shall have deemed to have delivered to the Company the Purchase Price (consisting of the cancellation by Value Group of outstanding fees as set forth in Section 1). The Shares shall not be deemed issued to, or owned by, Value Group until the stock certificate representing the Shares is delivered to Value Group.
