Common use of Distribution of Funds and Documents Clause in Contracts

Distribution of Funds and Documents. 9.1 All cash received hereunder by Escrow Agent shall be, until the close of the escrow, kept on deposit with other escrow funds in Escrow Agent's general escrow account(s), in any state or national bank, and may be transferred to any other such general escrow account(s). 9.2 Escrow Agent shall deposit the Opening Cash Deposit into an interest bearing account at a financial institution reasonably acceptable to Buyer and Seller promptly after the receipt thereof. Interest earned on the Opening Cash Deposit shall be credited to the account of Buyer. 9.3 All disbursements by Escrow Agent shall be made by checks of Escrow Agent. 9.4 Escrow Agent will cause the County Recorder of Xxxxx County, Nevada to mail the Seller's Grant Deed after recordation, to Buyer. 9.5 Escrow Agent will, at the close of the escrow, deliver by United States mail (or will hold for personal pickup, if requested) each nonrecorded document received hereunder by Escrow Agent, to the payee or person (i) acquiring rights under said document or (ii) for whose benefit said document was acquired. 9.6 Escrow Agent will, at the close of the escrow, deliver by United States mail (or hold for personal pickup, if requested) (i) to Seller, or order, the cash, plus or minus any appropriate prorations or other charges, and (ii) to Buyer, or order, any excess funds theretofore delivered to Escrow Agent by Buyer. 9.7 Escrow Agent will, at the close of the escrow, deliver to Seller a copy of the Seller's Grant Deed (conformed to show recording data) and each document recorded to place title in the condition required by this Agreement.

Distribution of Funds and Documents. 9.1 All (a) Except as provided herein, cash received hereunder by Escrow Agent shall be, until the close of the escrow, Holder will be kept on deposit in an interest-bearing account with other escrow funds in Escrow Agent's general escrow account(s), in any state or national bank, and may be transferred interest accruing to any other such general escrow account(s)Buyer’s benefit. 9.2 (b) Escrow Agent shall deposit the Opening Cash Deposit into an Holder will pay interest bearing account at a financial institution reasonably acceptable to Buyer and Seller promptly after the receipt thereof. Interest earned on the Opening Cash Deposit shall be credited to the account of Buyercash received by it. 9.3 (c) All disbursements by Escrow Agent shall Holder will be made by its checks of Escrow Agentor wire transfer pursuant to instructions by the parties hereto. 9.4 (d) Escrow Agent Holder will, at Close of Escrow, pay, from funds to which Sellers will be entitled and from funds, if any, deposited by Sellers with Escrow Holder, to the appropriate obligees, all monetary encumbrances caused, permitted or suffered by Sellers, other than those permitted by Section 4.2 hereof. (e) Escrow Holder will cause the County Recorder of Xxxxx County, Nevada to mail the Seller's Grant Deed (and each instrument which is recorded) after recordation, to Buyer. 9.5 (f) Escrow Agent Holder will, at the close of the escrow, deliver by United States mail (or will hold for personal pickup, if requested) each nonrecorded document received hereunder by Escrow Agent, to the payee or person (i) acquiring rights under said document or (ii) for whose benefit said document was acquired. 9.6 Escrow Agent will, at the close of the escrowEscrow, deliver by United States mail (or hold for personal pickup, if requested) each non-recorded instrument received by Escrow Holder to payee or person (i) acquiring rights under the instrument or (ii) for whose benefit the instrument was obtained. (g) Escrow Holder will, at close of Escrow, send by United States mail or wire transfer (or hold for personal pickup), as requested, (i) to SellerSellers, or order, the cash, plus or minus any appropriate prorations or other charges, balance of the cash portion of the Total Price to which Sellers will be entitled and (ii) to Buyer, or order, any excess funds theretofore delivered to Escrow Agent Holder by Buyer. 9.7 (h) Escrow Agent Holder will, at the close of the escrowEscrow, deliver send by United States mail (or hold for personal pickup, if requested) to Seller Buyer and Sellers a copy of the Seller's Grant Deed each document caused to be recorded by Escrow Holder (conformed to show recording data). (i) and each document recorded Escrow Holder will report the transaction to place title in the condition Internal Revenue Service as required by Section 6045 of the Internal Revenue Code. The Parties will provide Escrow Agent with all documents needed to satisfy this Agreementreporting requirement.

Distribution of Funds and Documents. 9.1 a. All cash received hereunder by Escrow Agent Agent, if any, shall be, until the close Close of the escrowEscrow, kept on deposit with other escrow funds in Escrow Agent's general escrow trust account(s), in any state or national bankbank or savings and loan association, and may be transferred to any other such general escrow account(s)) or to interest bearing account(s) or into certificate(s) of deposit. No account shall exceed Two Hundred Fifty Thousand Dollars ($250,000.00) so that full FDIC protection is afforded to the parties. 9.2 Escrow Agent shall deposit the Opening Cash Deposit into an interest bearing account at a financial institution reasonably acceptable to Buyer and Seller promptly after the receipt thereof. Interest earned on the Opening Cash Deposit shall be credited to the account of Buyer. 9.3 b. All disbursements by Escrow Agent shall be made by checks of Escrow AgentAgent or through wire transfer. 9.4 c. Escrow Agent will cause the County Recorder of Xxxxx County, Nevada Los Angeles County to mail the SellerBuyer's Grant Deed (and each other document which is herein expressed to be, or by general usage is recorded) after recordation, to Buyerthe grantee, beneficiary or person (a) acquiring rights under the said document, or (b) for whose benefit the said document was acquired. 9.5 d. Escrow Agent will, at the close Close of the escrowEscrow, deliver by United States mail (or will hold for personal pickup, if requested) each nonrecorded document received hereunder by Escrow Agent, to the payee or person (ia) acquiring rights under the said document document, or (iib) for whose benefit the said document was acquired. 9.6 e. Escrow Agent will, at the close Close of the escrowEscrow, deliver by United States mail (mail, or hold for personal pickup, if requested) , or cause to be wire transferred, if requested, (ia) to Seller, or ordersuch other party designated by Seller, the cash, plus any proration or minus other credits to which Seller is entitled, less any appropriate prorations or such other charges, and (iib) to the Buyer, or ordersuch other party designated by the Buyer, any excess funds theretofore delivered to Escrow Agent by the Buyer. 9.7 Escrow Agent will, at the close of the escrow, deliver to Seller a copy of the Seller's Grant Deed (conformed to show recording data) and each document recorded to place title in the condition required by this Agreement.

Distribution of Funds and Documents. 9.1 a. All cash received hereunder by Escrow Agent Xxxxxx Agent, if any, shall be, until the close Close of the escrowEscrow, kept on deposit with other escrow funds in Escrow Agent's general escrow trust account(s), in any state or national bankbank or savings and loan association, and may be transferred to any other such general escrow account(s)) or to interest bearing account(s) or into certificate(s) of deposit. No account shall exceed Two Hundred Fifty Thousand Dollars ($250,000.00) so that full FDIC protection is afforded to the parties. 9.2 Escrow Agent shall deposit the Opening Cash Deposit into an interest bearing account at a financial institution reasonably acceptable to Buyer and Seller promptly after the receipt thereof. Interest earned on the Opening Cash Deposit shall be credited to the account of Buyer. 9.3 b. All disbursements by Escrow Agent shall be made by checks of Escrow AgentAgent or through wire transfer. 9.4 c. Escrow Agent will cause the County Recorder of Xxxxx County, Nevada Los Angeles County to mail the SellerBuyer's Grant Deed Xxxxx Xxxx (and each other document which is herein expressed to be, or by general usage is recorded) after recordation, to Buyerthe grantee, beneficiary or person (a) acquiring rights under the said document, or (b) for whose benefit the said document was acquired. 9.5 d. Escrow Agent will, at the close Close of the escrowEscrow, deliver by United States mail (or will hold for personal pickup, if requested) each nonrecorded document received hereunder by Escrow Xxxxxx Agent, to the payee or person (ia) acquiring rights under the said document document, or (iib) for whose benefit the said document was acquired. 9.6 e. Escrow Agent will, at the close Close of the escrowEscrow, deliver by United States mail (mail, or hold for personal pickup, if requested) , or cause to be wire transferred, if requested, (ia) to Seller, or ordersuch other party designated by Seller, the cash, plus any proration or minus other credits to which Seller is entitled, less any appropriate prorations or such other charges, and (iib) to the Buyer, or ordersuch other party designated by the Buyer, any excess funds theretofore delivered to Escrow Agent by the Buyer. 9.7 Escrow Agent will, at the close of the escrow, deliver to Seller a copy of the Seller's Grant Deed (conformed to show recording data) and each document recorded to place title in the condition required by this Agreement.