Examples of Closing Phase in a sentence
Following the applicable Subsequent Closing Phase, the Agency shall convey to Developer that portion of the Non-Park Commission Land that has been designated for conveyance to Developer under the applicable Sub-Phase Approval, in accordance with Section 3.4.2.
Before the Initial Closing Phase, the Agency and Developer shall take reasonable efforts to relinquish to the City any right, title and interest of such party in the Hilltop Trust Streets as may be required to complete the Initial Closing Phase.
It is a condition precedent to the Agency’s obligation to close escrow on a Closing Phase under this Agreement that the Agency shall have determined, in its sole discretion, that the Developer is ready, willing and able to provide the consideration necessary for the Agency to satisfy its obligations for the closing under this Agreement.
It shall be a condition precedent to a Party’s obligation to close escrow for the conveyance or acceptance of real property by that Party that the other Party or Parties conveying or accepting the real property in the Subsequent Closing Phase have agreed on the legal description for the real property.
If all of the improvements on the Improvement List have been designated or constructed and the aggregate Agreed Cost of the Designated Improvements for the Closing Phase is less than the Park Improvement Commitment required for that Closing Phase, then the Agency and State Parks may, by joint agreement, identify other park improvements within CPSRA as Designated Improvements.
The Parties involved in the Subsequent Closing Phase shall reasonably cooperate with the Agency in obtaining mutually acceptable legal descriptions.
The notice shall include draft legal descriptions for the lands to be conveyed in the Subsequent Closing Phase, a list of all documents required to close with required signatories indicated, and drafts of all deeds, instruments, certificates of acceptance, title commitments, and other documents that are required for the closing and are within the Agency’s responsibility and control.
Following approval of a Revised Phasing Diagram, the amount of Additional Park Consideration provided by the Agency at each Closing Phase that includes a modified Phase Area shall be adjusted as appropriate to reflect any modified acreage of the Phase Area.
The Parties acknowledge that, in accordance with the Public Trust Exchange Agreement, the governing body of State Lands (the State Lands Commission) must approve each Trust Exchange Closing Phase and State Lands may impose certain conditions before it approves a Trust Exchange Closing Phase, including but not limited to certain conditions required by SB 792.
Pursuant to Section 26(b) of SB 792, within a reasonable time following the completion of each Closing Phase, the Director shall cause to be prepared and kept on file in the office of the a park boundary map memorializing the modification of the boundaries of the CPSRA to exclude any Transfer Parcel and include any Park Addition Parcel or Yosemite Slough Addition Parcel conveyed in the closing.