Common use of Closing Date and Escrow Clause in Contracts

Closing Date and Escrow. On January 15, 2015 (the “Closing Date”), Seller and Buyer are required and agree to make full settlement in accordance with the provisions of this Contract. The Deed (as defined in Section 4(b)(i)) and all other closing documents shall be executed and delivered in escrow to the Escrow Agent by each party required to execute such documents. On the morning of the Closing Date, Buyer shall effect a wire transfer of federal funds to the Escrow Agent’s escrow account in an amount equal to the sum of (i) the Purchase Price, (ii) the amount (if any) of the costs, expenses and adjustments payable by Buyer under this Contract, less (iii) the amount (if any) of the costs, expenses and adjustments payable by Seller under this Contract. At Buyer’s election, the amount of the funds to be wired to the Escrow Agent’s escrow account shall be reduced by the Xxxxxxx Money and interest on the Xxxxxxx Money, and the Xxxxxxx Money and interest on the Xxxxxxx Money shall be applied towards the Purchase Price. After the Escrow Agent’s receipt of the wire transfer of funds and immediately following the satisfaction (or waiver under Section 11 hereof) of the conditions precedent to closing set forth in Section 11 hereof (i) the Escrow Agent shall disburse to Seller and, in accordance with Seller’s written instructions, any mortgage holders, by wire transfer of federal funds, an amount equal to the Purchase Price reduced by any costs, expenses and adjustments payable by Seller under this Contract, (ii) the Escrow Agent shall deliver to Buyer all other documents and instruments received by it which, in accordance with the terms of this Contract, are to be delivered by Seller to Buyer on the Closing Date, and (iii) the Escrow Agent shall deliver to Seller all other documents and instruments received by it which, in accordance with the terms of this Contract, are to be delivered by Buyer to Seller on the Closing Date. For purposes of this Contract, the term “Escrow Agent” shall mean Chicago Title Insurance Company, 0000 X Xxxxxx, XX, Xxxxx 000, Xxxxxxxxxx, XX 00000, Attention: R. Xxxx Xxxxxx, Telephone: (000) 000-0000, Fax: (000) 000-0000, e-mail: xxxxxxx@xxx.xxx.

Closing Date and Escrow. On January 15Subject to the provisions of Section 12(c) -------------------------- hereof, 2015 on May 1, 2002 (the “Closing Date”"CLOSING DATE"), Seller Sellers and Buyer are required and agree to make full settlement in accordance with the provisions of this Contract. The Deed Assignments and Assumptions of Facility Leases and Release Agreements (as defined described in Section 4(b)(i6(b)(i)) and all other closing documents shall be executed and delivered in escrow to the Escrow Agent by each party required to execute such documents. On the morning of the Closing Date, Buyer Sellers shall effect a wire transfer of federal funds to the Escrow Agent’s 's escrow account in an amount equal to the sum of (i) the Purchase Priceassumption fees, costs and expenses (if any) to be paid by Sellers pursuant to Section 3; and (ii) the amount (if any) of the other costs, expenses and adjustments payable by Buyer Sellers under this Contract, less (iii) the amount (if any) of the costs, expenses and adjustments payable by Seller under this Contract. At Buyer’s election, the amount of the funds to be wired to the Escrow Agent’s escrow account shall be reduced by the Xxxxxxx Money and interest on the Xxxxxxx Money, and the Xxxxxxx Money and interest on the Xxxxxxx Money shall be applied towards the Purchase Price. After the Escrow Agent’s 's receipt of the wire transfer of funds and immediately following the satisfaction (or waiver under Section 11 12 hereof) of the conditions precedent to closing set forth in Section 11 12 hereof (i) the Escrow Agent shall (i) disburse to Seller andSellers the Purchase Price, in accordance with Seller’s written instructions, any mortgage holders, by wire transfer of federal funds, (ii) disburse to Buyer an amount equal to the Xxxxxxx Money and interest accrued thereon reduced by the Purchase Price reduced by and any costs, expenses and adjustments payable by Seller Buyer under this Contract, (iiiii) the Escrow Agent shall deliver to Buyer all other documents and instruments received by it which, in accordance with the terms of this ContractContract or any separate escrow instructions prepared by Buyer, are to be delivered by Seller Sellers to Buyer on the Closing Date, and (iiiiv) the Escrow Agent shall deliver to Seller Sellers all other documents and instruments received by it which, in accordance with the terms of this ContractContract or any separate escrow instructions prepared by Sellers, are to be delivered by Buyer to Seller Sellers on the Closing Date. For purposes of this Contract, the term “Escrow Agent” "ESCROW AGENT" shall mean Chicago Title Insurance CompanyNetwork, Ltd., 0000 X Xxxxxx, XXXxxxxxx Xxxx Xxxxx, Xxxxx 000, XxxxxxxxxxXxxxx, XX 00000, Xxxxx 00000 (Attention: R. Xxxx Xxxxxx, TelephoneXx. Xxx Xxxxx (telephone number: (000) 000000)000-0000), Faxfax number: (000) 000000)000-0000, e-mail: xxxxxxx@xxx.xxx.)). (b)

Closing Date and Escrow. On January The closing of the purchase and sale of the Property (the "CLOSING") shall take place on a business day (the "CLOSING DATE") on or before September 28, 2001 (the "SCHEDULED CLOSING DATE"); PROVIDED, HOWEVER, if Seller effectively exercises its Extension Option (as hereinafter defined), the Closing shall take place on a business day after September 28, 2001 but on or before November 15, 2015 2001 ("EXTENDED CLOSING DATE") selected by Seller. The Closing shall take place at the “offices of Xxxxx & Xxxxxx LLP, 0000 X Xxxxxx, X.X., Xxxxx 000X, Xxxxxxxxxx, X.X. 00000, or such other place as is mutually agreed upon by the parties hereto. Seller may extend the Scheduled Closing Date or Extended Closing Date”, as applicable, one or more times for up to forty-eight (48) days in the aggregate (collectively, the "EXTENSION OPTION"). In order to exercise such extension right, Seller and Buyer are required and agree shall deliver to make full settlement in accordance with Purchaser written notice (each an "EXTENSION NOTICE") of such extension no later than five (5) Business Days prior to the provisions Scheduled Closing Date or Extended Closing Date, as applicable. Upon the giving of this Contract. The Deed (as defined in Section 4(b)(i)) and all other closing documents the Extension Notice to Purchaser, the Closing Date shall be executed and delivered in escrow extended to the Escrow Agent by each party required Extended Closing Date set forth in the Extension Notice, subject to execute such documentsthe reduction of the Purchase Price set forth in SECTION 3.1. On the morning of or before 11:00 a.m., local time, on the Closing Date, Buyer the Purchaser shall effect a wire transfer of federal funds cause to be deposited with the Escrow Agent’s escrow account Agent immediately available funds in an amount equal to the sum of the Purchase Price and the costs, expenses, prorations and adjustments payable by the Purchaser under this Agreement, reduced by (x) the amount of the Fund, and (y) the amount of the prorations and adjustments for which the Purchaser receives credit on the Closing Statement. If (x) the Seller and the Purchaser have each notified the Escrow Agent that the conditions in ARTICLE X (in the case of the Seller) and the conditions in ARTICLE XI and ARTICLE XII (in the case of the Purchaser) have been satisfied or waived (other than the respective covenants and obligations of the Seller and the Purchaser to be performed pursuant to this ARTICLE XIII), (y) the Escrow Agent has received the funds from the Purchaser in accordance with the preceding sentence, the Escrow Agent has received the documents and instruments to be delivered by the Seller pursuant to SECTION 13.2, and the Escrow Agent has received documents and instruments to be delivered by the Purchaser pursuant to SECTION 13.3, then the Escrow Agent shall promptly (in the following order) not later than 3:00 p.m., local time, on the Closing Date, (i) record the Purchase PriceDeed among the Land Records, (ii) the amount (if any) of the costs, expenses and adjustments payable by Buyer under this Contract, less (iii) the amount (if any) of the costs, expenses and adjustments payable by Seller under this Contract. At Buyer’s election, the amount of the funds to be wired disburse to the Escrow Agent’s escrow account shall be reduced by the Xxxxxxx Money and interest on the Xxxxxxx Money, and the Xxxxxxx Money and interest on the Xxxxxxx Money shall be applied towards the Purchase Price. After the Escrow Agent’s receipt of the wire transfer of funds and immediately following the satisfaction (or waiver under Section 11 hereof) of the conditions precedent to closing set forth in Section 11 hereof (i) the Escrow Agent shall disburse to Seller and, in accordance with Seller’s written instructions, any mortgage holders, by wire transfer of federal funds, an amount equal to the Purchase Price (including as a part of the Purchase Price the Fund), reduced by any the costs, expenses expenses, prorations and adjustments payable by the Seller under this ContractAgreement, including but not limited to the commission of the Sales Agent pursuant to SECTION 8.7, and increased by the amount of the prorations and adjustments for which the Seller receives credit on the Closing Statement, (iiiii) the Escrow Agent shall deliver to Buyer the Purchaser the documents and instruments referred to in SECTION 13.2 and all other documents and instruments received by it which, in accordance with the terms of this ContractAgreement, are to be delivered by the Seller to Buyer on the Closing DatePurchaser at the Closing, and (iiiiv) the Escrow Agent shall deliver to the Seller the documents and instruments referred to in SECTION 13.3 and all other documents and instruments received by it which, in accordance with the terms of this ContractAgreement, are to be delivered by Buyer the Purchaser to the Seller on at the Closing, and (v) make the other disbursements and deliveries required by the Closing DateStatement. For purposes If (i) any of the conditions set forth in ARTICLE XI and ARTICLE XII have not been satisfied by Seller, or (ii) Seller is in breach of any representation, warranty or covenant of Seller contained in this ContractAgreement, the term “Escrow Agent” then Purchaser's and Seller's rights, liabilities and obligations shall mean Chicago Title Insurance Companybe as specified in SECTIONS 6.6 THROUGH 6.11, 0000 X Xxxxxx, XX, Xxxxx 000, Xxxxxxxxxx, XX 00000, Attention: R. Xxxx Xxxxxx, Telephone: (000) 000-0000, Fax: (000) 000-0000, e-mail: xxxxxxx@xxx.xxxas applicable.

Closing Date and Escrow. On January 15, 2015 (the “Closing Date”)Unless this Contract is terminated as permitted under this Contract, Seller and Buyer are required and agree to make full settlement in accordance with the provisions of this ContractContract on August 1, 2002 (the "Closing Date"). The Deed Assignment (as defined in Section 4(b)(i)hereafter defined) and all other closing documents shall be executed by each party required to execute such documents and delivered in escrow to the Escrow Agent by each party required to execute such documentsno later than noon the Business Day immediately preceding the Closing Date. On No later than 5:00 pm on the morning of Business Day immediately preceding the Closing Date, Buyer shall effect a wire transfer of federal immediately available funds to the Escrow Agent’s 's escrow account in an amount equal to the sum of (i) the Purchase Price, Price and (ii) the amount (if any) of the costs, expenses and adjustments payable by the Buyer under this Contract, less (iii) the amount (if any) of the costs, expenses and adjustments payable by Seller under this Contract. At Buyer’s election; however, the amount of the funds to be wired to the Escrow Agent’s 's escrow account shall be reduced by the Xxxxxxx Money and interest on Money. On the Xxxxxxx MoneyClosing Date, and the Xxxxxxx Money and interest on the Xxxxxxx Money shall be applied towards the Purchase Price. After the Escrow Agent’s receipt of the wire transfer of funds and immediately following the satisfaction (or waiver under Section 11 hereof) of the conditions precedent to closing set forth in Section 11 hereof (i) the Escrow Agent shall disburse to Seller and, in accordance with Seller’s written instructions, any and all applicable mortgage holders, by wire transfer of federal immediately available funds, an amount equal to the Purchase Price reduced by any costs, expenses and adjustments payable by Seller under this Contract, (ii) the Escrow Agent shall deliver to Buyer all other documents and instruments received by it which, in accordance with the terms of this Contract, are to be delivered by Seller to Buyer on the Closing Date, Date and (iii) the Escrow Agent shall deliver to Seller all other documents and instruments received by it which, in accordance with the terms of this Contract, are to be delivered by Buyer to Seller on the Closing Date. In the event Seller has tendered performance in accordance with this Contract by 1:00 p.m. (eastern time) on the Closing Date and Buyer does not authorize the consummation of Closing and disbursement of funds deposited by or on behalf of Buyer with Escrow Agent to Seller before 1:00 p.m. (eastern time) on the Closing Date, Buyer shall be deemed in breach. For purposes of this Contract, the term “"Escrow Agent” " shall mean Chicago Anchor Title Insurance Company, 0000 X Xxxxxx, XX00000 Xxxxxxx Xxxxx, Xxxxx 000, XxxxxxxxxxXxxxxxxx, XX 00000Xxxxxxxx 00000 (Attn: M. Xxxxxxxxx Xxxxx, Attention: R. Xxxx XxxxxxPresident, Telephone: (Tel. No. 000) -000-0000, Fax: (Fax No. 000) -000-0000, e-mail: xxxxxxx@xxx.xxx).

Closing Date and Escrow. On January 15May 1, 2015 2002 (the “Closing Date”"CLOSING DATE"), Seller -------------------------- and Buyer are required and agree to make full settlement in accordance with the provisions of this Contract. The Deed (as defined in Section 4(b)(i6(b)(i)) and all other closing documents shall be executed and delivered in escrow to the Escrow Agent by each party required to execute such documents. On the morning of the Closing Date, Buyer Seller shall effect a wire transfer of federal funds to the Escrow Agent’s 's escrow account in an amount equal to the sum of (i) the Purchase Price, assumption costs and expenses (if any) to be paid by Seller pursuant to Section 3; and (ii) the amount (if any) of the costs, expenses and adjustments payable by Buyer under this Contract, less (iii) the amount (if any) of the other costs, expenses and adjustments payable by Seller under this Contract. At Buyer’s election, the amount of the funds to be wired to the Escrow Agent’s escrow account shall be reduced by the Xxxxxxx Money and interest on the Xxxxxxx Money, and the Xxxxxxx Money and interest on the Xxxxxxx Money shall be applied towards the Purchase Price. After the Escrow Agent’s 's receipt of the wire transfer of funds and immediately following the satisfaction (or waiver under Section 11 12 hereof) of the conditions precedent to closing set forth in Section 11 hereof (i) 12 hereof, the Escrow Agent shall (i) disburse to Seller andthe Purchase Price, in accordance with Seller’s written instructions, any mortgage holders, by wire transfer of federal funds, (ii) disburse to Buyer an amount equal to the Earnest Money and interest accrued xxxxxxx reduced by the Purchase Price reduced by and any costs, expenses and adjustments payable by Seller Buyer under this Contract, (iiiii) the Escrow Agent shall deliver to Buyer all other documents and instruments received by it which, in accordance with the terms of this ContractContract or any separate escrow instructions prepared by Buyer, are to be delivered by Seller to Buyer on the Closing Date, and (iiiiv) the Escrow Agent shall deliver to Seller all other documents and instruments received by it which, in accordance with the terms of this ContractContract or any separate escrow instructions prepared by Seller, are to be delivered by Buyer to Seller on the Closing Date. For purposes of this Contract, the term “Escrow Agent” "ESCROW AGENT" shall mean Chicago Title Insurance CompanyNetwork, 0000 X XxxxxxLtd., XX4975 Preston Park South, Suite 000, Xxxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000, Attention00000 (Xxxxxxxxx: R. Xxxx Xxxxxx, TelephoneXx. Xxx Xxxxx (xxxxxxone number: (000000)000-5020, fax number (469) 000-0000, Fax: )). (000) 000-0000, e-mail: xxxxxxx@xxx.xxx.b)

Closing Date and Escrow. On The closing of the purchase and sale of the Property (the “Closing”) shall occur on the latest to occur of (i) the 20th day after the date on which the applicable Governmental Authorities approve the Century Boulevard CPAP (or, if the 20th day is not a Business Day, on the first Business Day thereafter), (ii) the 20th day after the date on which the applicable Governmental Authorities approve the Lot Creation Document (or, if the 20th day is not a Business Day, on the first Business Day thereafter), or (iii) January 159, 2015 (2009, with time being of the essence,. Seller and Purchaser may, by mutual agreement, agree to hold the Closing at an earlier date. The Closing shall be held at the office of the Escrow Agent, or at any other location in Fairfax or Loudoun County, Virginia, approved by Seller and Purchaser. The date on which the Closing occurs is referred to in this Agreement as the “Closing Date”).” On or before Noon, Seller and Buyer are required and agree to make full settlement in accordance with the provisions of this Contract. The Deed (as defined in Section 4(b)(i)) and all other closing documents shall be executed and delivered in escrow to the Escrow Agent by each party required to execute such documents. On the morning of local time, on the Closing Date, Buyer Purchaser shall effect a wire transfer of federal funds cause to be deposited with the Escrow Agent’s escrow account Agent immediately available funds in an amount equal to the sum of the Purchase Price and the costs, expenses, prorations and adjustments payable by Purchaser under this Agreement, reduced by (x) the amount of the Deposit, and (y) the net amount of the prorations and adjustments for which Purchaser receives credit, if any, on the Closing Statement (defined in Section 11(d)). If (1) Seller and Purchaser have each notified the Escrow Agent that all conditions precedent to the other party’s performance have been satisfied or waived (other than the respective covenants and obligations of Seller and Purchaser to be performed on the Closing Date), (2) the Escrow Agent has received the funds from Purchaser in accordance with the preceding sentence, (3) the Escrow Agent has received the documents and instruments to be delivered by Seller pursuant to Section 11(b), and (4) the Escrow Agent has received the documents and instruments to be delivered by Purchaser pursuant to Section 11(c), then the Escrow Agent shall, not later than 3:00 p.m., local time, on the Closing Date, (i) record the Lot Creation Document, the Deed, the Repurchase Option Agreement, the Pond Easement Agreement, the Century Boulevard Easement Agreement (if applicable), the Proffer Allocation and Infrastructure Agreement and the Pre-Emptive Option Agreement, in that order, in the applicable land records, (ii) disburse to Seller an amount equal to the Purchase Price, (ii) reduced by the amount (if any) of Deposit and the costs, expenses and adjustments payable by Buyer under this Contractexpenses, less (iii) the amount (if any) of the costs, expenses prorations and adjustments payable by Seller under this Contract. At Buyer’s election, Agreement and increased by the amount of the funds to be wired to the Escrow Agent’s escrow account shall be reduced by the Xxxxxxx Money prorations and interest adjustments for which Seller receives credit on the Xxxxxxx MoneyClosing Statement, (iii) deliver to Purchaser the documents and the Xxxxxxx Money and interest on the Xxxxxxx Money shall be applied towards the Purchase Price. After the Escrow Agent’s receipt of the wire transfer of funds and immediately following the satisfaction (or waiver under Section 11 hereof) of the conditions precedent instruments referred to closing set forth in Section 11 hereof (i11(b) the Escrow Agent shall disburse to Seller and, in accordance with Seller’s written instructions, any mortgage holders, by wire transfer of federal funds, an amount equal to the Purchase Price reduced by any costs, expenses and adjustments payable by Seller under this Contract, (ii) the Escrow Agent shall deliver to Buyer all other documents and instruments received by it which, in accordance with the terms of this ContractAgreement, are to be delivered by Seller to Buyer Purchaser on the Closing Date, and (iiiiv) the Escrow Agent shall deliver to Seller the documents and instruments referred to in Section 11(c) and all other documents and instruments received by it which, in accordance with the terms of this ContractAgreement, are to be delivered by Buyer Purchaser to Seller on the Closing Date, and (v) make the other disbursements and deliveries required by the Closing Statement. For purposes of this ContractOn the Closing Date, immediately after receiving confirmation that the Deed has been recorded, the term “Escrow Agent” Agent shall mean Chicago Title Insurance Company, 0000 X Xxxxxx, XX, Xxxxx 000, Xxxxxxxxxx, XX 00000, Attention: R. Xxxx Xxxxxx, Telephone: (000) 000-0000, Fax: (000) 000-0000, e-mail: xxxxxxx@xxx.xxxdisburse the Deposit to Seller.