Escrow Opening and Closing Sample Clauses
The 'Escrow Opening and Closing' clause defines the procedures and requirements for establishing and finalizing an escrow arrangement in a transaction. It typically outlines when and how the escrow account is opened, what documents or funds must be deposited, and the conditions that must be met for the escrow to close and the assets to be released. For example, it may specify that the buyer must deposit the purchase price into escrow and the seller must provide clear title documents before closing can occur. This clause ensures a secure and orderly transfer of funds and documents, protecting both parties by making sure that obligations are fulfilled before the transaction is completed.
Escrow Opening and Closing. The Escrow Agent shall sign and date this Agreement on the space provided at the end of this Agreement, indicating that Escrow has been opened as of such date (“Opening of Escrow”). The date set for conveyance of title to the Property and the performance of all conditions (except those conditions expressly required to be performed earlier pursuant to this Agreement) relating thereto (“Closing” or “Closing Date” or “Close of Escrow”) shall occur on or before thirty (30) days after the Feasibility Date.
Escrow Opening and Closing. Upon execution of this Agreement by Buyer and Seller, the parties shall cause an escrow (the “Escrow”) to be established with Escrow Agent. “Opening of Escrow” as used herein shall mean the day on which Escrow Agent receives a copy of this Agreement executed by Buyer and Seller. Buyer and Seller shall close before September 29, 2006 provided that all contingencies listed by the Bank of Houston are satisfied and that in particular certain drainage issues are resolved as outlined in Exhibit “B” attached. The Closing shall occur at the office of the Escrow Agent, or at such other place or time as Buyer and Seller mutually agree in writing. At or prior to the Closing, each of the parties shall execute and deliver such documents and perform such acts as are provided for herein, or as are necessary, to consummate the transaction contemplated hereunder. All obligations of the parties to be performed at or prior to Closing are conditions precedent to the Closing as well as covenants.
Escrow Opening and Closing. An escrow (the "Escrow") shall be opened with Title Company by delivering a fully executed copy of this Agreement to Title Company at the address specified in Section 1 no later than three (3) business days following the Effective Date. Seller and Purchaser shall consummate the transaction contemplated by this Agreement at Closing through the Escrow with the Title Company and pursuant to escrow instructions acceptable to the Title Company, Seller and Purchaser. On the date of Closing, provided all the conditions precedent to closing have been satisfied or waived, the Title Company shall promptly undertake the following: (i) disburse all funds deposited with the Title Company, (ii) cause the deed and any other documents that the parties have mutually designated to be recorded in the official records of the county in which the Property is located, (iii) issue the title policy to the Purchaser, (iv) deliver to Purchaser fully executed originals of Seller's closing documents, (v) deliver to Seller fully executed originals of Purchaser's closing documents, and (vi) deliver the Tenant Notice (as defined below) to the tenant by certified mail, return receipt requested, and deliver the receipt to Seller. The attorneys for Seller and Purchaser are authorized to execute such letter of escrow instructions, any amendments thereto and all directions or communications thereunder.
Escrow Opening and Closing