Examples of Bulk Sales in a sentence
By signing these General Provisions, the parties to the escrow hereby acknowledge that they are indemnifying the Escrow Holder against any and all matters relating to any "Bulk Sales" requirements, and instruct Escrow Agent to proceed with the closing of escrow without any consideration of matter of any nature whatsoever regarding "Bulk Sales" being handled through escrow.
In such regard, Seller shall also act in good faith and with reasonable diligence to apply for, obtain and deliver to Buyer and the Title Company any and all clearance certificates evidencing the payment by Seller of certain taxes, assessments and contributions to the state in which the Property is located as required by the Bulk Sales Laws at or as soon after the Closing Date as is reasonably possible.
Seller shall provide to the Title Company and Buyer Seller’s written indemnity of any and all losses resulting from the Bulk Sales Laws in a form and substance acceptable to Buyer (which indemnity shall be guaranteed by a person or entity with sufficient assets if reasonably required by Buyer).
Seller shall make all such filings as are required in connection with the Bulk Sales laws of California, if applicable.
Each Illinois Property Seller shall use commercially reasonable efforts (but without obligation to incur any cost or expense or institute any legal action) to obtain and deliver to Buyer at Closing a release letter issued by the IDR and, if applicable, the Xxxx County Department of Revenue stating that no unpaid taxes, penalties or interest are due from such Illinois Property Seller under the Bulk Sales Laws (the “Bulk Sales Releases”).