Common use of Immediate Repairs Clause in Contracts

Immediate Repairs. 6.1 At Closing, Seller deposited the sum of Seventy-Eight Five Hundred and No/100 Dollars ($78,500.00) into an escrow with Escrow Agent (as defined in the Contract) (the “Immediate Needs Repair Escrow”) as security for any immediate needs repairs that are required at the Property. Within sixty (60) days from the date of this Agreement, Seller, at Seller’s sole cost and expense, shall repair the immediate repair issues identified on Exhibit “A” attached hereto and incorporated herein (the “Immediate Repairs”). Upon completion of any Immediate Repairs by Seller to Purchaser’s commercially reasonable satisfaction, the funds deposited in the Immediate Needs Repair Escrow relating to the completed repair shall be immediately released by Escrow Agent to Seller.

Appears in 1 contract

Samples: Post Closing and Indemnity Agreement (Inland Diversified Real Estate Trust, Inc.)

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Immediate Repairs. 6.1 At Closing, Seller deposited the sum of SeventyFifty-Eight Four Thousand Twenty-Five Hundred and No/100 Dollars ($78,500.0054,025.00) into an escrow with Escrow Agent (as defined in the Contract) (the “Immediate Needs Repair Escrow”) as security for any immediate needs repairs that are required at the Property. Within sixty (60) days from the date of this Agreement, Seller, at Seller’s sole cost and expense, shall repair the immediate repair issues identified on Exhibit “A” attached hereto and incorporated herein (the “Immediate Repairs”). Upon completion of any Immediate Repairs by Seller to Purchaser’s commercially reasonable satisfaction, the funds deposited in the Immediate Needs Repair Escrow relating to the completed repair shall be immediately released by Escrow Agent to Seller.

Appears in 1 contract

Samples: Post Closing and Indemnity Agreement (Inland Diversified Real Estate Trust, Inc.)

Immediate Repairs. 6.1 At Closing, Seller deposited the sum of SeventyForty-Eight Seven Thousand Five Hundred Fifty and No/100 Dollars ($78,500.0047,550.00) into an escrow with Escrow Agent (as defined in the Contract) (the “Immediate Needs Repair Escrow”) as security for any immediate needs repairs that are required at the Property. Within sixty (60) days from the date of this Agreement, Seller, at Seller’s sole cost and expense, shall repair the immediate repair issues identified on Exhibit “A” attached hereto and incorporated herein (the “Immediate Repairs”). Upon completion of any the Immediate Repairs by Seller to Purchaser’s commercially reasonable satisfaction, the funds deposited in the Immediate Needs Repair Escrow relating to the completed repair shall be immediately released by Escrow Agent to Seller.

Appears in 1 contract

Samples: Post Closing and Indemnity Agreement (Inland Diversified Real Estate Trust, Inc.)

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Immediate Repairs. 6.1 At Closing, Seller deposited the sum of Seventy-Eight Eighteen Thousand Five Hundred and No/100 Dollars ($78,500.0018,500.00) into an escrow with Escrow Agent (as defined in the Contract) (the “Immediate Needs Repair Escrow”) as security for any immediate needs repairs that are required at the Property. Within sixty (60) days from the date of this Agreement, Seller, at Seller’s sole cost and expense, shall repair the immediate repair issues identified on Exhibit “A” attached hereto and incorporated herein (the “Immediate Repairs”). Upon completion of any Immediate Repairs by Seller to Purchaser’s commercially reasonable satisfaction, the funds deposited in the Immediate Needs Repair Escrow relating to the completed repair shall be immediately released by Escrow Agent to Seller.

Appears in 1 contract

Samples: Post Closing and Indemnity Agreement (Inland Diversified Real Estate Trust, Inc.)

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