Settlement Location. Each Note shall be exchangeable at the office of the Exchange Agent and, if applicable, in accordance with the Applicable Procedures.
Settlement Location. Settlement/closing shall be held in the offices of the Seller’s attorney or in the office of the closing agent selected by Seller’s attorney. The attorney shall hold the deposit in a non-interest bearing trust account. Dated: Dated: Federal Home Loan Mortgage Corporation Purchaser By: Title: Purchaser
Settlement Location. This subparagraph establishes a default position that settlement will occur in the county where the property is located or an adjacent county, during normal business hours. While this is the case form most transactions, there may be Buyers and Sellers who have special needs regarding settlement that will need to be addressed. For example, a Buyer from Pittsburgh moving to Allentown might need to schedule the settlement in Pittsburgh because she knows in advance that she will be unable to travel on the proposed settlement date. This provision encourages the parties to have a conversation about these special needs early in the process rather than having one party surprised by a difficult or inconvenient request just before settlement. Subparagraph (C): The following will be pro-rated between Buyer and Seller... The Agreement presumes that the specified taxes and other fees will be pro-rated as of time of settlement. If another basis for division is to be used, insert it in the space provided after “unless otherwise stated here.” Note: A Notice about tax pro-ration listing the taxing period for Pennsylvania municipalities is included on the back of the Agreement. All counties and municipalities levy their property taxes on a calendar year basis (January 1 – December 31), while the tax year of most school districts is July 1 to June 31 (except for Pittsburgh, Philadelphia and Scranton, which use a calendar year). Aside from confusion that may arise because of the different tax years, municipalities and school districts have varying policies regarding when tax bills are mailed to residents and when payment is due. Brokers and the parties should closely examine paid and owing tax bills to be sure that any proration of taxes is properly applied. It is always a good idea to check directly with the municipality or school district if there are any questions.
Settlement Location. Each Note shall be convertible at the office of the Conversion Agent and, if applicable, in accordance with the Applicable Procedures.
Settlement Location. Locations defined for the purpose of commercial operations and settlement. A Settlement Location can be either a single Meter Settlement Location or, for load, an aggregation of Meter Settlement Locations within one Settlement Area as designated during the asset registration process by a Market Participant serving load.
