Escrow and Completion of Sale Sample Clauses

Escrow and Completion of Sale. Within five (5) days after City has exercised the Option, or as soon thereafter as reasonably practicable, an escrow shall be opened with First American Title Insurance Company (“Escrow Holder”) for the conveyance of the Property to City. ATN shall deposit a grant deed conveying fee simple, marketable title to the Property (“Grant Deed”) and the City shall deposit the original Purchase Money Note, (marked “discharged”), in escrow not later than one (1) business day prior to the anticipated close of escrow date. At the close of escrow, Escrow Holder shall record the Grand Deed and deliver the Purchase Money Note to ATN.
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Escrow and Completion of Sale. Within five (5) days after City has exercised the Option, or as soon thereafter as reasonably practicable, an escrow shall be opened with an escrow company mutually acceptable to City and Owner for the conveyance of the Property to the City. The City shall deposit the Option Price in escrow not later than one (1) business day prior to the anticipated close of escrow date. The City’s obligation to close escrow shall be subject to the City’s approval of a then-current preliminary title report and, at City’s option, environmental and other site testing. Any exceptions shown on such preliminary title report created on or after the Owner’s acquisition of the Property shall be removed by Owner at its sole expense prior to the close of escrow pursuant to this Section 4 unless such exception(s) is(are) accepted by City in its reasonable discretion; provided, however, that City shall accept the following exceptions to title: (i) current taxes not yet delinquent, (ii) matters affecting title existing on the date of Owner’s acquisition of the Property, (iii) liens and encumbrances in favor of the Agency or the City, and (iv) matters shown as printed exceptions in the standard form CLTA owner’s policy of title insurance. In the event the Property or any portion thereof is encumbered by a mortgage or deed of trust, the City shall be permitted to unilaterally instruct the escrow agent to satisfy the indebtedness secured thereby out of the proceeds payable to the Owner through the foregoing escrow, or the City may satisfy all or a portion of the Option Price through the City’s assumption of the promissory note or notes held by the holders of the deeds of trust encumbering the Site, if such holder or holders consent thereto. City shall pay all of the escrow fees, documentary transfer taxes, recording fees, the cost of any owner’s policy of title insurance desired by the City, and any other costs and expenses of the escrow. City shall have thirty (30) days after exercise of the Option to enter upon the Property to conduct any tests, inspections, investigations, or studies of the condition of the Property. Owner shall permit the City access to the Site for such purposes. The City shall indemnify, defend, and hold harmless Owner and its officers, directors, shareholders, partners, employees, agents, and representatives from and against all claims, liabilities, or damages, and including expert witness fees and reasonable attorney’s fees and costs, caused by City’s activities ...
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Escrow and Completion of Sale. Within thirty (30) days after City has exercised the Option, or as soon thereafter as reasonably practicable, an escrow shall be opened with an escrow company mutually acceptable to City and Homeowner, which acceptance may not be unreasonably withheld, for the conveyance of the Affordable Unit to the City. The City shall deposit in escrow not later than one (1) business day prior to the anticipated close of escrow date ("Close of Escrow") cash or cashier's check in an amount equal to the Option Price. The City's obligation to close escrow shall be subject to the City's approval of a then current preliminary title report and, at City's option, environmental and other site testing. Any exceptions shown on such preliminary title report created on or after the Homeowner's acquisition of the Affordable Unit shall be removed by Homeowner at its sole expense prior to the close of escrow pursuant to this Section 4 unless such exception(s) is (are) accepted by City in its sole and absolute discretion; provided, however, that City shall accept the following exceptions to title: (i) current taxes not yet delinquent, (ii) liens and encumbrances in favor of the City, and (iii) matters shown as printed exceptions in the standard form CLTA Homeowner's policy of title insurance. After exercising the Option, the City shall have right to enter upon the Affordable Unit to conduct any tests, inspections, investigations, or studies of the condition of the Affordable Unit. Homeowner shall permit the City access to the Affordable Unit for such purposes. Close of Escrow shall take place promptly after acceptance by City of the condition of title and the physical and environmental condition of the Affordable Unit. Until the Close of Escrow, the terms of the Covenant and the documents executed and recorded pursuant thereto shall remain in full force and effect.
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Escrow and Completion of Sale. Within five (5) days after Agency has exercised the Right of First Refusal, or as soon thereafter as reasonably practicable, Developer and Agency shall enter into a purchase agreement upon the terms and conditions set forth in the Notice of Transfer and an escrow shall be opened with an escrow company mutually acceptable to Agency and Developer for the conveyance of the Site to Agency. Agency shall deliver funds sufficient for payment of the purchase price (including the Agency Loan Note, if cancellation of the Agency Loan Note is required) into such escrow not later than one (1) business day prior to the anticipated close of escrow date. The obligation of Agency to close escrow shall be subject to Agency’s approval during the applicable due diligence period of a then-current preliminary title report and, at the option of Agency, inspections, studies, tests, and investigations of the physical and environmental condition of the Site and other site testing. Any exceptions shown on such preliminary title report created on or after Developer’s acquisition of the Site and timely objected to by Agency and approved by Developer to be removed shall be removed by Developer at its sole expense prior to the close of escrow unless such exception(s) is (are) accepted by Agency in its reasonable discretion; provided, however, that Agency shall accept the following exceptions to title: (i) current taxes not yet delinquent, (ii) matters affecting title existing on the date of Developer’s acquisition of the Site, and
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Related to Escrow and Completion of Sale

  • COMPLETION OF AGREEMENT This document comprises the entire agreement between the District and the Association in the matters lawfully within the scope of negotiation. Neither party shall have any obligation to meet and negotiate during the term of this agreement.

  • Completion of Repairs Borrower will commence any Repairs as soon as practicable after the date of this Loan Agreement and will diligently proceed with and complete such Repairs on or before the Completion Date. All Repairs and Capital Replacements will be completed in a good and workmanlike manner, with suitable materials, and in accordance with good building practices and all applicable laws, ordinances, rules, regulations, building setback lines and restrictions applicable to the Mortgaged Property. Borrower agrees to cause the replacement of any material or work that is defective, unworkmanlike or that does not comply with the requirements of this Loan Agreement, as determined by Lender.

  • COMMENCEMENT AND COMPLETION OF THE PROJECT Section 3.01 The Project (a) The Company intends and expects, together with any Sponsor Affiliate, to (i) construct and acquire the Project, and (ii) meet the Contract Minimum Investment Requirement within the Investment Period. The Company anticipates that the first Phase of the Project will be placed in service during the calendar year ending December 31, 2020. (b) Pursuant to the FILOT Act and subject to Section 4.03 hereof, the Company and the County hereby agree that the Company and any Sponsor Affiliates shall identify annually those assets which are eligible for FILOT payments under the FILOT Act and which the Company or any Sponsor Affiliate selects for such treatment by listing such assets in its annual PT-300S form (or comparable form) to be filed with the Department (as such may be amended from time to time) and that by listing such assets, such assets shall automatically become Economic Development Property and therefore be exempt from all ad valorem taxation during the Exemption Period. Anything contained in this Fee Agreement to the contrary notwithstanding, the Company and any Sponsor Affiliates shall not be obligated to complete the acquisition of the Project. However, if the Company, together with any Sponsor Affiliates, does not meet the Contract Minimum Investment Requirement within the Investment Period, the provisions of Section 4.03 hereof shall control. (c) The Company may add to the Land such real property, located in the same taxing District in the County as the original Land, as the Company, in its discretion, deems useful or desirable. In such event, the Company, at its expense, shall deliver an appropriately revised Exhibit A to this Fee Agreement, in form reasonably acceptable to the County.

  • Commencement and Completion of Work The professional services to be performed pursuant to this Agreement shall commence within five (5) days from the Effective Date of this Agreement. Failure to commence work in a timely manner and/or diligently pursue work to completion may be grounds for termination of this Agreement.

  • Payments and Completion Payments may be withheld because of (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, workers, or suppliers; (3) persistent failure to carry out work in acceptance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10 percent holdback is required by the lender to assure the work has been properly completed and there are no liens against the property.

  • Effect of Completion This agreement shall, as to any of its provisions remaining to be performed or capable of having or taking effect following Completion, remain in full force and effect notwithstanding Completion.

  • Completion of Due Diligence Each Purchaser shall have completed its legal, business and financial due diligence of the Company to its full satisfaction and shall be fully satisfied with the results thereof.

  • Completion of Project This Grant Agreement shall terminate upon completion of the project and payment of the last invoice.

  • Upon completion of the Project the Recipient shall make a full and complete accounting to the OPWC of the Eligible Project Cost.

  • Commencement and Completion of Construction Subject to Unavoidable Delays, Developer shall cause construction of the Minimum Improvements to be undertaken and completed: (i) by no later than June 1, 2020; or (ii) by such other date as the parties shall mutually agree upon in writing. Time lost as a result of Unavoidable Delays shall be added to extend this date by a number of days equal to the number of days lost as a result of Unavoidable Delays. All work with respect to the Minimum Improvements shall be in conformity with the Construction Plans approved by the building official or any amendments thereto as may be approved by the building official. Developer agrees that it shall permit designated representatives of the City, upon reasonable notice (which does not have to be written), to enter upon the Development Property during the construction of the Minimum Improvements to inspect such construction and the progress thereof.

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