Common use of Downers Grove Real Property Closing Clause in Contracts

Downers Grove Real Property Closing. (a) With respect ----------------------------------- to the Downers Grove Real Property, the Closing shall be conducted through an escrow with the Title Company acting as escrowee and effectuated through a so- called "New York Style Closing," with the concurrent delivery of the documents, funds, instruments and other items required pursuant to this Agreement with respect to the Downers Grove Real Property and as may be reasonably necessary to accomplish the purposes contemplated by this Agreement with respect to the Downers Grove Real Property. Parent and the Downers Grove Real Property Buyer shall execute and deliver to the Title Company such documents as are reasonable and customary to effectuate such "New York Style Closing." (b) With respect to the Downers Grove Real Property, at the Closing: (i) Parent shall execute and deliver to the Downers Grove Real Property Buyer a quit claim deed in recordable form; (ii) Parent and the Downers Grove Real Property Buyer shall execute and deliver the Downers Grove Real Property Instrument of Assignment and Assumption, pursuant to which Parent shall assign to the Downers Grove Real Property Buyer its rights under, and the Downers Grove Real Property Buyer shall assume the obligations and liabilities of Parent pursuant to, the Downers Grove Real Property Leases and the Downers Grove Real Property Contracts; (iii) Buyer shall pay all transfer Taxes, if any, applicable to the transfer of the Downers Grove Real Property, and Parent and the Downers Grove Real Property Buyer shall execute and deliver all applicable transfer Tax declarations; and

Downers Grove Real Property Closing. (a) With respect ----------------------------------- to the Downers Grove Real Property, the Closing shall be conducted through an escrow with the Title Company acting as escrowee and effectuated through a so- so-called "New York Style Closing," with the concurrent delivery of the documents, funds, instruments and other items required pursuant to this Agreement with respect to the Downers Grove Real Property and as may be reasonably necessary to accomplish the purposes contemplated by this Agreement with respect to the Downers Grove Real Property. Parent and the Downers Grove Real Property Buyer shall execute and deliver to the Title Company such documents as are reasonable and customary to effectuate such "New York Style Closing." (b) With respect to the Downers Grove Real Property, at the Closing: (i) Parent shall execute and deliver to the Downers Grove Real Property Buyer a quit claim deed in recordable form; (ii) Parent and the Downers Grove Real Property Buyer shall execute and deliver the Downers Grove Real Property Instrument of Assignment and Assumption, pursuant to which Parent shall assign to the Downers Grove Real Property Buyer its rights under, and the Downers Grove Real Property Buyer shall assume the obligations and liabilities of Parent pursuant to, the Downers Grove Real Property Leases and the Downers Grove Real Property Contracts; (iii) Buyer shall pay all transfer Taxes, if any, applicable to the transfer of the Downers Grove Real Property, and Parent and the Downers Grove Real Property Buyer shall execute and deliver all applicable transfer Tax declarations; and