Commencing upon the Closing Sample Clauses
The 'Commencing upon the Closing' clause defines when certain rights, obligations, or actions under an agreement become effective, specifically tying their start to the formal closing of a transaction. In practice, this means that provisions such as payment obligations, transfer of ownership, or the start of warranties only take effect once all closing conditions are met and the transaction is officially completed. This clause ensures that parties are not bound by or required to perform specific duties until the deal is finalized, thereby providing clarity and protecting both sides from premature obligations.
Commencing upon the Closing or Developer’s possession of the Property, whichever occurs first, and at all times prior to the issuance of the Release of Construction Covenants (“the Term”), Developer shall maintain in effect and deliver to City duplicate originals or appropriate certificates of the following insurance policies (the “Insurance Policies”):
Commencing upon the Closing or Owner’s possession of the Property, whichever occurs first through the end of the Covenant Period (“the Term”), Owner shall maintain in effect and deliver to City duplicate originals or appropriate certificates of the following insurance policies (the “Insurance Policies”):
Commencing upon the Closing or Owner’s possession of the Property, whichever occurs first, and at all times prior to the issuance of the Release of Construction Covenants (Improvements) (except in the case of liability insurance which shall be maintained until full reconveyance of the Agency Deed of Trust), Owner shall maintain in effect and deliver to Agency duplicate originals or appropriate certificates of the following insurance policies (collectively, the “Insurance Policies”):