Common use of Tax Free Exchange Cooperation Clause in Contracts

Tax Free Exchange Cooperation. In the event Buyer or Seller intend on utilizing tax exchange arrangements in this transaction, this Contract for Sale is executed in contemplation of, and with the full knowledge of the intent of the Seller and Buyer hereunder to proceed with like kind exchanges pursuant to Section 1031 of the Internal Revenue Code, and the parties hereunto agree to cooperate and utilize their best efforts in order to facilitate the exchange transactions, including, but not limited to, executing documents for the purpose of consummating the exchange transactions. Xxxxx agrees to cooperate in a Section 1031 Exchange by Seller at no cost or liability to Buyer, including without limitation, the assignment of Seller’s rights, but not Seller’s obligations, under this Contract on or before Closing to Seller’s qualified exchange intermediary. Xxxxxx agrees to cooperate in a Section 1031 Exchange by Buyer at no cost or liability to Seller, including without limitation, the assignment of Buyer’s rights, but not Buyer’s obligations, under this Contract on or before Closing to Buyer’s qualified exchange intermediary. Seller further acknowledges and agrees that, at Xxxxx’s request, Xxxxx’s deposit funds may be refunded to Buyer by Seller and replaced with an equal amount of funds from Xxxxx’s qualified exchange intermediary at any time after assignment of this contract to such qualified exchange intermediary.

Tax Free Exchange Cooperation. In the event Buyer or Seller intend on utilizing tax exchange arrangements in this transaction, this Contract for Sale is executed in contemplation of, and with the full knowledge of the intent of the Seller and Buyer hereunder to proceed with like kind exchanges pursuant to Section 1031 of the Internal Revenue Code, and the parties hereunto agree to cooperate and utilize their best efforts in order to facilitate the exchange transactions, including, but not limited to, executing documents for the purpose of consummating the exchange transactions. Xxxxx Buyer agrees to cooperate in a Section 1031 Exchange by Seller at no cost or liability to Buyer, including without limitation, the assignment of Seller’s rights, but not Seller’s obligations, under this Contract on or before Closing to Seller’s qualified exchange intermediary. Xxxxxx Seller agrees to cooperate in a Section 1031 Exchange by Buyer at no cost or liability to Seller, including without limitation, the assignment of Buyer’s rights, but not Buyer’s obligations, under this Contract on or before Closing to Buyer’s qualified exchange intermediary. Seller further acknowledges and agrees that, at XxxxxBuyer’s request, XxxxxBuyer’s deposit funds may be refunded to Buyer by Seller and replaced with an equal amount of funds from XxxxxBuyer’s qualified exchange intermediary at any time after assignment of this contract to such qualified exchange intermediary.