{"component": "clause", "props": {"groups": [{"size": 2, "snippet": "Any transfer documents or certificates required by any applicable governing body or law to complete this transaction, including, without limitation, an IRS 1099S form and Arizona Department of Revenue Affidavit of Property Value.", "snippet_links": [{"key": "transfer-documents", "type": "clause", "offset": [4, 22]}, {"key": "required-by", "type": "definition", "offset": [39, 50]}, {"key": "governing-body", "type": "definition", "offset": [66, 80]}, {"key": "this-transaction", "type": "definition", "offset": [100, 116]}, {"key": "without-limitation", "type": "clause", "offset": [129, 147]}, {"key": "department-of-revenue", "type": "clause", "offset": [179, 200]}, {"key": "affidavit-of-property-value", "type": "clause", "offset": [201, 228]}], "samples": [{"hash": "8uRlJhz6Fqh", "uri": "/contracts/8uRlJhz6Fqh#the-closing-statement", "label": "Purchase and Sale Agreement", "score": 30.340862423, "published": true}, {"hash": "9kunI0UDNCD", "uri": "/contracts/9kunI0UDNCD#the-closing-statement", "label": "Purchase and Sale Agreement (IMH Financial Corp)", "score": 28.2826830938, "published": true}], "hash": "cf286287e580d228c9331a1f34c01bd3", "id": 1}, {"size": 2, "snippet": "Buyer may, at Buyer\u2019s election, direct Seller to assign the Distribution Agreements to Buyer\u2019s designee, Lehigh Gas Wholesale LLC, a Delaware limited liability company.", "snippet_links": [{"key": "buyer-may", "type": "definition", "offset": [0, 9]}, {"key": "at-buyer", "type": "clause", "offset": [11, 19]}, {"key": "direct-seller", "type": "definition", "offset": [32, 45]}, {"key": "distribution-agreements", "type": "clause", "offset": [60, 83]}, {"key": "to-buyer", "type": "definition", "offset": [84, 92]}, {"key": "a-delaware-limited-liability-company", "type": "clause", "offset": [131, 167]}], "samples": [{"hash": "dRiKHPRtNOR", "uri": "/contracts/dRiKHPRtNOR#the-closing-statement", "label": "Purchase and Sale Agreement (Lehigh Gas Partners LP)", "score": 23.984257358, "published": true}, {"hash": "4m3CK5nJ51L", "uri": "/contracts/4m3CK5nJ51L#the-closing-statement", "label": "Purchase and Sale Agreement", "score": 22.7152635181, "published": true}], "hash": "a71b22be35fed12ad07df1bfb29d9a7c", "id": 2}, {"size": 2, "snippet": "In addition to the documents to be executed, delivered and acknowledged by Purchaser pursuant to Section 7.2(c), at Closing Purchaser shall:", "snippet_links": [{"key": "to-be-executed", "type": "clause", "offset": [29, 43]}, {"key": "by-purchaser", "type": "clause", "offset": [72, 84]}, {"key": "pursuant-to-section", "type": "definition", "offset": [85, 104]}, {"key": "at-closing", "type": "clause", "offset": [113, 123]}], "samples": [{"hash": "9kO1GUm1vc4", "uri": "/contracts/9kO1GUm1vc4#the-closing-statement", "label": "Contract of Sale and Purchase (Ramco Gershenson Properties Trust)", "score": 18.0, "published": true}], "hash": "39000d30694c27a60404123fb441a880", "id": 3}, {"size": 1, "snippet": "An updated rent roll prepared by Seller\u2019s property manager in the ordinary course of business in connection with its management of the Property, dated as of the Closing Date.", "snippet_links": [{"key": "updated-rent-roll", "type": "clause", "offset": [3, 20]}, {"key": "by-seller", "type": "clause", "offset": [30, 39]}, {"key": "property-manager", "type": "clause", "offset": [42, 58]}, {"key": "in-the-ordinary-course-of-business", "type": "definition", "offset": [59, 93]}, {"key": "in-connection-with", "type": "clause", "offset": [94, 112]}, {"key": "management-of-the-property", "type": "clause", "offset": [117, 143]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [151, 173]}], "samples": [{"hash": "hwBqmA1hKvR", "uri": "/contracts/hwBqmA1hKvR#the-closing-statement", "label": "Purchase and Sale Agreement (RREEF Property Trust, Inc.)", "score": 29.5420944559, "published": true}], "hash": "cbbb72f9d7e51c51a067366f4e41f119", "id": 4}, {"size": 1, "snippet": "All documents listed above shall be in form and substance reasonably satisfactory to Seller and its legal counsel", "snippet_links": [{"key": "all-documents", "type": "definition", "offset": [0, 13]}, {"key": "form-and-substance", "type": "clause", "offset": [39, 57]}, {"key": "to-seller", "type": "definition", "offset": [82, 91]}, {"key": "legal-counsel", "type": "definition", "offset": [100, 113]}], "samples": [{"hash": "37HLd2xEzzV", "uri": "/contracts/37HLd2xEzzV#the-closing-statement", "label": "Purchase and Assumption Agreement (First South Bancorp Inc /Va/)", "score": 18.0, "published": true}], "hash": "8b6b953806f1c08016c8ceaa9a40f456", "id": 5}, {"size": 1, "snippet": "At least three Business Days prior to the Closing Date, the Company shall deliver to Purchaser (a) an unaudited interim Closing Statement (the \u201cClosing Statement\u201d) setting forth, in reasonable detail, the Company\u2019s good faith estimate of the value of the Working Capital as of September 30, 2010, and the Closing Date Indebtedness as of the Effective Time, and (b) a payment instructions letter, signed on behalf of the Company by a duly authorized officer of the Company and in form and substance reasonably satisfactory to Purchaser, setting forth the respective amounts, payees and payment instructions relating to the payment of the Closing Date Indebtedness and the Company Transaction Expenses (the \u201cPayment Instructions Letter\u201d). The Company\u2019s calculation of the Working Capital and the Closing Date Indebtedness shall be prepared in accordance with Schedule 1.1.2, except that Working Capital, as set forth in the Closing Statement, shall include only those categories and line items (including accruals, reserves and deferrals), which make up the balances set forth on Schedule 1.1.2, notwithstanding the fact that GAAP may require additional categories of current assets and current liabilities to be included in GAAP presentation of Working Capital. All expenses relating to the preparation of the Closing Statement by employees or agents of the Company or Purchaser will be borne by the party employing or engaging such employees or agents and, if any such Company expense is unpaid at the date hereof, will be deemed a Company Transaction Expense. Purchaser and Purchaser\u2019s independent certified public accountants will have the right to review, at the expense of Purchaser, any applicable work papers relating to the preparation of the Closing Statement.", "snippet_links": [{"key": "prior-to-the-closing-date", "type": "clause", "offset": [29, 54]}, {"key": "the-company-shall", "type": "clause", "offset": [56, 73]}, {"key": "deliver-to-purchaser", "type": "definition", "offset": [74, 94]}, {"key": "interim-closing-statement", "type": "definition", "offset": [112, 137]}, {"key": "good-faith-estimate", "type": "definition", "offset": [215, 234]}, {"key": "the-value", "type": "clause", "offset": [238, 247]}, {"key": "working-capital", "type": "definition", "offset": [255, 270]}, {"key": "closing-date-indebtedness", "type": "clause", "offset": [305, 330]}, {"key": "the-effective-time", "type": "clause", "offset": [337, 355]}, {"key": "payment-instructions-letter", "type": "definition", "offset": [367, 394]}, {"key": "behalf-of-the-company", "type": "clause", "offset": [406, 427]}, {"key": "officer-of-the-company", "type": "definition", "offset": [449, 471]}, {"key": "form-and-substance", "type": "clause", "offset": [479, 497]}, {"key": "relating-to", "type": "definition", "offset": [606, 617]}, {"key": "payment-of-the-closing", "type": "clause", "offset": [622, 644]}, {"key": "company-transaction-expenses", "type": "clause", "offset": [671, 699]}, {"key": "calculation-of-the", "type": "clause", "offset": [751, 769]}, {"key": "be-prepared", "type": "clause", "offset": [826, 837]}, {"key": "in-accordance-with", "type": "definition", "offset": [838, 856]}, {"key": "line-items", "type": "clause", "offset": [981, 991]}, {"key": "on-schedule", "type": "definition", "offset": [1075, 1086]}, {"key": "the-fact", "type": "clause", "offset": [1110, 1118]}, {"key": "additional-categories", "type": "clause", "offset": [1141, 1162]}, {"key": "current-assets", "type": "clause", "offset": [1166, 1180]}, {"key": "current-liabilities", "type": "definition", "offset": [1185, 1204]}, {"key": "preparation-of-the-closing-statement", "type": "clause", "offset": [1290, 1326]}, {"key": "by-employees", "type": "clause", "offset": [1327, 1339]}, {"key": "purchaser-will", "type": "clause", "offset": [1368, 1382]}, {"key": "the-party", "type": "clause", "offset": [1395, 1404]}, {"key": "company-expense", "type": "definition", "offset": [1469, 1484]}, {"key": "date-hereof", "type": "clause", "offset": [1502, 1513]}, {"key": "purchaser-and-purchaser", "type": "definition", "offset": [1561, 1584]}, {"key": "independent-certified-public-accountants", "type": "definition", "offset": [1587, 1627]}, {"key": "right-to-review", "type": "clause", "offset": [1642, 1657]}, {"key": "of-purchaser", "type": "clause", "offset": [1674, 1686]}, {"key": "work-papers", "type": "definition", "offset": [1703, 1714]}], "samples": [{"hash": "7IBXabV2e4j", "uri": "/contracts/7IBXabV2e4j#the-closing-statement", "label": "Merger Agreement (Novatel Wireless Inc)", "score": 21.8569472964, "published": true}], "hash": "625e0f1dbda08c80d23c95addb734fff", "id": 6}, {"size": 1, "snippet": "The sale of the Project will be closed through an escrow closing with the Escrow Agent. Any escrow fee charged by the Escrow Agent shall be divided equally and paid by Buyer and Seller. The Seller and Buyer shall execute and deliver such escrow instructions and other escrow-related documents as may reasonably be necessary in connection with Closing. Seller shall pay the cost of the grantor tax imposed by Virginia Code Section 58.1-802, and Buyer shall pay fees (other than the grantor tax which is the Seller\u2019s responsibility as provided above) for recording the Deed and the cost of recording taxes imposed by Virginia Code Section 58.1-801 and 58.1-814 (collectively the \u201cGrantee Tax\u201d), provided that Buyer shall not be responsible with any fees connected with the payment or release of the Curable Liens. The premium for Buyer\u2019s policy of title insurance and all title examination fees will be paid by Buyer. Buyer shall have the right to obtain title insurance from a title company or a title insurance agency other than the title company and agency that issued the Title Commitment, but if Buyer elects to obtain title insurance from another title company or agency, it shall pay at or prior to Closing all costs, fees, penalties and other charges for the Title Commitment (and cancellation thereof). Seller shall pay the cost of the Survey, provided that Buyer shall pay the cost of any updates or revisions desired by Buyer. Buyer shall pay the cost of all other investigations of the Project performed by or on behalf of Buyer. Each party shall pay its own attorneys\u2019 fees.", "snippet_links": [{"key": "sale-of-the-project", "type": "definition", "offset": [4, 23]}, {"key": "escrow-closing", "type": "clause", "offset": [50, 64]}, {"key": "the-escrow-agent", "type": "definition", "offset": [70, 86]}, {"key": "escrow-fee", "type": "definition", "offset": [92, 102]}, {"key": "escrow-agent-shall", "type": "clause", "offset": [118, 136]}, {"key": "by-buyer-and-seller", "type": "clause", "offset": [165, 184]}, {"key": "buyer-shall", "type": "clause", "offset": [201, 212]}, {"key": "execute-and-deliver", "type": "clause", "offset": [213, 232]}, {"key": "escrow-instructions", "type": "definition", "offset": [238, 257]}, {"key": "related-documents", "type": "definition", "offset": [275, 292]}, {"key": "in-connection-with", "type": "clause", "offset": [324, 342]}, {"key": "seller-shall", "type": "clause", "offset": [352, 364]}, {"key": "cost-of", "type": "definition", "offset": [373, 380]}, {"key": "the-grantor", "type": "clause", "offset": [381, 392]}, {"key": "tax-imposed", "type": "clause", "offset": [393, 404]}, {"key": "code-section", "type": "definition", "offset": [417, 429]}, {"key": "pay-fees", "type": "clause", "offset": [456, 464]}, {"key": "the-deed", "type": "clause", "offset": [563, 571]}, {"key": "recording-taxes", "type": "clause", "offset": [588, 603]}, {"key": "provided-that", "type": "clause", "offset": [693, 706]}, {"key": "be-responsible", "type": "clause", "offset": [723, 737]}, {"key": "the-payment", "type": "clause", "offset": [767, 778]}, {"key": "release-of", "type": "clause", "offset": [782, 792]}, {"key": "for-buyer", "type": "clause", "offset": [824, 833]}, {"key": "insurance-and", "type": "clause", "offset": [852, 865]}, {"key": "examination-fees", "type": "clause", "offset": [876, 892]}, {"key": "right-to", "type": "definition", "offset": [937, 945]}, {"key": "title-company", "type": "clause", "offset": [976, 989]}, {"key": "title-insurance-agency", "type": "definition", "offset": [995, 1017]}, {"key": "the-title-commitment", "type": "clause", "offset": [1070, 1090]}, {"key": "prior-to-closing", "type": "clause", "offset": [1195, 1211]}, {"key": "all-costs", "type": "definition", "offset": [1212, 1221]}, {"key": "charges-for", "type": "clause", "offset": [1249, 1260]}, {"key": "the-survey", "type": "clause", "offset": [1339, 1349]}, {"key": "of-buyer", "type": "clause", "offset": [1530, 1538]}, {"key": "each-party", "type": "clause", "offset": [1540, 1550]}], "samples": [{"hash": "aYxwclSgH4R", "uri": "/contracts/aYxwclSgH4R#the-closing-statement", "label": "Purchase and Sale Agreement (Inland American Real Estate Trust, Inc.)", "score": 21.0, "published": true}], "hash": "cd1a7b54df421fa826975f5620428577", "id": 7}, {"size": 1, "snippet": "(a) The Closing Statement shall consist of a written statement delivered from Seller to Buyer (the \u201cClosing Statement\u201d) no later than five (5) Business Days prior to the Closing Date, setting forth Sellers\u2019 good faith estimate of:\n(i) the Total Actual Revenue;\n(ii) the amount of Total Actual Revenue that is related to Subscriber Accounts and CABS Accounts (excluding the Subscriber Accounts and CABS Accounts listed on Exhibit A hereto) that are more than forty-five (45) days past due from the invoice due date;\n(iii) the outstanding amounts of the current, 30-day, 60-day, 90-day and 120-day+ CABS A/R and the current, 30-day, 60-day, 90-day and 120-day+ Subscriber A/R, as of the last day of the calendar month ending immediately prior to the Benchmark Date;\n(iv) Pre-Paid Expenses as of the Closing Date; and\n(v) Customer Prepayments as of the Closing Date. Should Buyer object to any of the amounts or calculations in the Closing Statement, Buyer and Sellers shall cooperate in a diligent good faith manner to resolve such objections prior to the Closing, and the Closing Statement shall be adjusted prior to the Closing to reflect any changes agreed to by Buyer and Sellers prior to the Closing.\n(b) The \u201cClosing Date Payment\u201d shall be an amount equal to the Base Purchase Price:\n(i) minus an amount equal to (A) (I) the amount by which $15,900,000 exceeds the Total Actual Revenue set forth on the Closing Statement, divided by (II) $15,900,000, multiplied by (B) the Base Purchase Price;\n(ii) for purposes of Section 3.3(b)(i) above, the Total Actual Revenue used for such adjustment as set forth on the Closing Statement shall not include any Revenue related to Subscriber Accounts that are more than forty-five (45) days past due from the invoice due date (unless related to the accounts listed in Exhibit A);\n(iii) minus the amount by which $5,842,365 (which is the current and 30-day Subscriber A/R and the current and 30-day CABS A/R balance of as September 30, 2012) exceeds the sum of the current and 30-day Subscriber A/R and the current and 30-day CABS A/R, as of the last day of the calendar month ending immediately prior to the Benchmark Date set forth on the Closing Statement, if any;\n(iv) plus the amount of the Pre-Paid Expenses as of the Closing Date set forth on the Closing Statement;\n(v) minus the amount of the Customer Prepayments as of the Closing Date set forth on the Closing Statement; and\n(vi) minus the Escrow Amount.\n(c) At the Closing, Buyer shall (i) pay to Sellers in cash by wire transfer of immediately available funds to the account or accounts designated by Sellers in the Closing Statement an amount equal to the Closing Date Payment and (ii) deposit by wire transfer or otherwise, the Escrow Amount into the Escrow Account.", "snippet_links": [{"key": "consist-of", "type": "clause", "offset": 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Statement"], ["earning-statement", "Earning Statement", "Earning Statement"]], "related_snippets": [], "updated": "2025-07-07T12:37:39+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Closing Statement clause outlines the requirement for a formal document summarizing the final terms, adjustments, and financial details of a transaction at the time of closing. Typically, this statement lists all credits, debits, prorations, and any other amounts to be paid or received by each party, ensuring both sides have a clear record of the transaction\u2019s financial settlement. Its core function is to provide transparency and prevent disputes by documenting the exact amounts and terms agreed upon at closing."}, "json": true, "cursor": ""}}