Approved Closing Costs definition

Approved Closing Costs means Borrower’s and Lender’s demonstrable third-party out-of-pocket costs and expenses incurred in connection with the entry by Borrower and Lender into this Agreement and the Loan Documents, each of which shall have been approved by Lender in the exercise of its sole and absolute discretion.

Approved Closing Costs means usual and customary closing costs for commercial real estate transactions in the applicable surrounding area in which the subject Property is located, such as deed stamps, reasonable attorneys’ fees, real estate tax adjustments and a broker’s commission (which broker’s commission shall not exceed the usual and customary commission charged in the applicable surrounding area) and shall also include negotiated payments made by the applicable Borrower under the relevant purchase and sale agreement for the subject Property as part of the sale transaction and as such payments are reflected by the settlement statement.

Approved Closing Costs shall have the meaning given such term in Section 13(b).

Examples of Approved Closing Costs in a sentence

• The total purchase price ("Purchase Price") of the Properties shall be the sum of (i) $710,801,910, representing the net book value for each Property ("NBV") as set forth on Exhibit A attached hereto less any depreciation taken by Seller from the date of such NBV on Exhibit A and February 28, 2003, as such NBV may be adjusted from time to time pursuant to Section 2(b) (the "NBV Purchase Price") and (ii) the Approved Closing Costs.

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• Seller shall have no obligation to reimburse or otherwise pay Purchaser for any Approved Closing Costs incurred by Purchaser or any third parties engaged by Purchaser in the event a Settlement does not occur, except as otherwise provided in Section 16(a).

• As used herein "Net Sales Profits" shall mean the "Gross Sales Refinancing Proceeds" (as hereinafter defined) from the sale or refinancing of the Property minus the sums of (a) "Approved Closing Costs" (as hereinafter defined) and (b) "Approved Deductions" (as hereinafter defined).

More Definitions of Approved Closing Costs

Approved Closing Costs means, with respect to the Approved Sale of a Release Property, all reasonable and customary closing costs and adjustments not to exceed the lesser of: (a) five percent (5%) of the applicable Gross Sale Proceeds, or (b) the amount actually incurred and paid by Borrower (without contribution by the contract buyer) and reasonably approved by Lender, including, without limitation, title insurance premiums and charges, the contributions made by Borrower to buyer’s closing costs, broker’s commissions, attorneys’ fees, recording charges, transfer taxes and other customary closing costs (but expressly excluding any approved holdback or any amount Borrower is required to pay on account of common area charges or real estate taxes).

Approved Closing Costs means all reasonable and customary closing costs and adjustments actually incurred by Maker in connection with an Approved Sale of the Project which are (i) not payable to any parties related to or affiliated with Maker or any Affiliate of Maker and (ii) approved by Payee in its sole discretion as being reasonable and customary; provided that Approved Closing Costs shall in no event exceed three percent (3%) of the gross sales. price of the Project as reflected in the sales contract for such Approved Sale of the Project. By way of example, closing costs may include, without limitation, title insurance premiums, title company charges, Permitted Commissions (but not other broker's commissions or finder's fees), attorneys' fees, and customary recordation charges and transfer taxes, if any.

Approved Closing Costs. With respect to the Approved Sale of a Condominium Unit, all reasonable and customary closing costs and adjustments not to exceed the lesser of: (a) seven percent (7%) of the applicable Gross Sale Proceeds, or (b) the amount actually incurred and paid by Borrower (without contribution by the purchaser), documented to Lender's satisfaction, and approved by Lender, including, without limitation, title insurance premiums, title company charges, Permitted Commissions (but not other broker's commissions or finder's fees), reasonable and customary attorneys' fees, customary recordation charges and transfer taxes (but expressly excluding amounts Borrower is required to pay, deduct or place into escrow on account of unfinished work in the condominium unit or at the Project or on account of common charges or real estate taxes).

Approved Closing Costs. With respect to the sale of any Condominium Unit, Garage Space or Carport Space (which in all events must be an Approved Sale), all reasonable and customary closing costs and adjustments actually incurred and paid by Borrower (without contribution by the purchaser), documented to Lender’s satisfaction, and approved by Lender (which approval shall not be unreasonably withheld), including, without limitation, title insurance premiums, title company charges, Permitted Commissions (but not other broker’s commissions or finder’s fees), a one percent (1%) developer’s fee to be paid by Borrower, reasonable and customary attorneys’ fees, customary recordation charges, transfer taxes and the Exit Fee (but expressly excluding amounts Borrower is required to pay, deduct or place into escrow on account of unfinished work in a Condominium Unit or at the Project or on account of common charges or real estate taxes).

Approved Closing Costs means: (i) costs of title insurance premiums, transfer taxes, escrow and recording fees and other usual and ordinary closing costs which are customarily paid by the seller in Maricopa County, in each case actually paid or payable by Trustor an pre-approved by

Approved Closing Costs means: (i) costs of title insurance premiums, transfer taxes, escrow and recording fees and other usual and ordinary closing costs which are customarily paid by the seller in Maricopa County, in each case actually paid or payable by Trustor an pre-approved by Beneficiary in writing (which approval will not be unreasonably withheld, and (ii) a sales commission or fee of not to exceed three percent (3%) of the total purchase price for the Property.

Approved Closing Costs. All costs and expenses incurred by Borrower in connection with Closing as set forth on the settlement sheet approved by Trustee in writing.