Distribution of Funds. Escrow Agent shall disburse all funds deposited with Escrow Agent by Buyer in payment of the Purchase Price as follows: (i) Deduct, pay and satisfy all items chargeable to the account of Seller pursuant to Section 11.1 hereof. (ii) Deduct, pay and satisfy all Monetary Obligations against the Real Property. (iii) If, as a result of the prorations and credits pursuant to Article 11 hereof, amounts are to be charged to the account of Seller, deduct the net amount of such charges. (iv) Disburse the remaining balance of the Purchase Price to Seller promptly upon the Closing. All disbursements by Escrow Agent shall be by wire transfer to the designated account of the receiving party or shall be by certified or cashier’s check of Escrow Agent, as may be directed by the receiving party.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Excel Trust, Inc.), Purchase and Sale Agreement (Excel Trust, Inc.), Purchase and Sale Agreement (Excel Trust, Inc.)
Distribution of Funds. Escrow Agent Holder shall disburse all funds deposited with Escrow Agent Holder by Buyer in payment of the Purchase Price as follows:
(i) Deduct, pay and satisfy all items chargeable to the account of Seller pursuant to Section 11.1 hereof.
(ii) Deduct, pay and satisfy all Monetary Obligations against the Real Property.
(iii) If, as a result of the prorations and credits pursuant to Article 11 hereof, amounts are to be charged to the account of Seller, deduct the net amount of such charges.
(iv) Disburse the remaining balance of the Purchase Price to Seller promptly upon the Closing. All disbursements by Escrow Agent Holder shall be by wire transfer to the designated account of the receiving party or shall be by certified or cashier’s check of Escrow AgentHolder, as may be directed by the receiving party.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.), Purchase and Contribution Agreement (Pacific Office Properties Trust, Inc.), Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.)
Distribution of Funds. Escrow Agent shall disburse all funds deposited with Escrow Agent by Buyer in payment of the Purchase Price as follows:
(i) Deduct, pay and satisfy all items chargeable to the account of Seller pursuant to Section 11.1 hereof.
(ii) Deduct, pay and satisfy all Monetary Obligations against the Real PropertyProperty in accordance with Seller’s written instructions.
(iii) If, as a result of the prorations and credits pursuant to Article 11 hereof, amounts are to be charged to the account of Seller, deduct the net amount of such charges.
(iv) Disburse the remaining balance of the Purchase Price to Seller promptly upon the Closing. All disbursements by Escrow Agent shall be by wire transfer to the designated account of the receiving party or shall be by certified or cashier’s check of Escrow Agent, as may be directed by the receiving partySeller.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Excel Trust, Inc.), Purchase and Sale Agreement (Excel Trust, Inc.)
Distribution of Funds. Escrow Agent shall disburse all funds deposited with Escrow Agent by Buyer in payment of the Cash Purchase Price as follows:
(i) Deduct, pay and satisfy all items chargeable to the account of Seller pursuant to Section 11.1 hereof.
(ii) Deduct, pay and satisfy all Monetary Obligations against the Real Property.
(iii) If, as a result of the prorations and credits pursuant to Article 11 hereof, amounts are to be charged to the account of Seller, deduct the net amount of such charges.
(iv) Disburse the remaining balance of the Cash Purchase Price to Seller promptly upon the Closing. All disbursements by Escrow Agent shall be by wire transfer to the designated account of the receiving party or shall be by certified or cashier’s check of Escrow Agent, as may be directed by the receiving party.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Excel Trust, Inc.), Purchase and Sale Agreement (Excel Trust, Inc.)
