Closing Procedures Adjustments Sample Clauses
The "Closing Procedures; Adjustments" clause outlines the steps and financial reconciliations required to finalize a transaction, typically in real estate or business asset sales. It details the process for transferring ownership, including the exchange of documents, payment of the purchase price, and the allocation of costs such as taxes, utilities, or rents up to the closing date. By specifying these procedures and adjustments, the clause ensures both parties have a clear understanding of their obligations at closing and that all financial matters are settled fairly, preventing disputes over post-closing liabilities or entitlements.
Closing Procedures Adjustments. Closing 15 3.2 Payment at Closing 16 3.3 Adjustment of Purchase Price 16 3.4 Proration; Other Closing Date Adjustments 17 3.5 Seller Deliveries 17 3.6 Purchaser Deliveries 18 3.7 Delivery of the Loan Documents 19 3.8 Owned Real Property Filings 19 3.9 Allocation of Purchase Price 19
Closing Procedures Adjustments. Closing 14 3.2 Payment at Closing 14 3.3 Adjustment of Purchase Price 15 3.4 Proration; Other Closing Date Adjustments 15 3.5 Seller Deliveries 16 3.6 Purchaser Deliveries 17 3.7 Delivery of the Loan Documents 18 3.8 Owned Real Property Filings 18 3.9 Allocation of Purchase Price 18 ARTICLE 4 TRANSITIONAL MATTERS 4.1 Transitional Arrangements 19 4.2 Customers 20 4.3 ACH Debit or Credit Transactions 21 4.4 Wires 22 4.5 Access to Records 23 4.6 Interest Reporting and Withholding 23 4.7 Negotiable Instruments 24 4.8 ATM/Debit Cards; POS Cards 24
Closing Procedures Adjustments. 3.1 Closing ...............................................................................................................................13 3.2 Payment at Closing ............................................................................................................13 3.3
Closing Procedures Adjustments. Closing 13 3.2 Payment at Closing 13 3.3 Adjustment of Purchase Price 14 3.4 Proration; Other Closing Date Adjustments 14 3.5 Seller Deliveries 15 3.6 Purchaser Deliveries 16 3.7 RESERVED 16 3.8 Agreements Regarding Owned Real Property 16 3.9 Allocation of Purchase Price 17 4.1 Transitional Arrangements 18 4.2 Customers 18 4.3 ACH Debit or Credit Transactions 20 4.4 Wires 21 4.5 Access to Records 21 4.6 Interest Reporting and Withholding 22 4.7 Negotiable Instruments 22 4.8 ATM/Debit Cards; POS Cards 22 4.9 Data Processing Conversion for the Branches and Handling of Certain Items 23 4.10 Infrastructure Installation 24 4.11 Employee Training 26 4.12 Night Drop Equipment 27 4.13 Expenses Relating to Transitional Matters 27 4.14 Access to the Branches on the Closing Date 27 4.15 Customer Claims 27 5.1 Corporate Organization and Authority 28 5.2 No Conflicts 28 5.3 Approvals and Consents 29 5.4 Leases 29 5.5 Litigation and Undisclosed Liabilities 29 5.6 Regulatory Matters 30 5.7 Compliance with Laws 30 5.8 RESERVED 30 5.9 Records 30 5.10 Title to Assets 30 5.11 Deposits 30 5.12 Environmental Laws; Hazardous Substances 31 5.13 Brokers’ Fees 31 5.14 Property 31 5.15 Absence of Certain Changes 32 5.16 Employee Benefit Plans; Labor Matters 32 5.17 Available Funds 33 5.18 Limitations on Representations and Warranties 33 6.1 Corporate Organization and Authority 33 6.2 No Conflicts 33 6.3 Approvals and Consents 34 6.4 Regulatory Matters 34 6.5 Litigation and Undisclosed Liabilities 35 6.6 Operation of the Branches 35 6.7 Brokers’ Fees 35 6.8 Financing to be Available 35 6.9 Limitations on Representations and Warranties 35
Closing Procedures Adjustments. 3.1 Closings..................................................................................................................................20 3.2
Closing Procedures Adjustments. Closing 12 3.2 Payment at Closing 12 3.3 Adjustment of Purchase Price 12 3.4 Proration; Other Closing Date Adjustments 14 3.5 Seller Deliveries 14 3.6 Purchaser Deliveries 16 3.7 Delivery of the Loan Documents 17 3.8 Collateral Assignments and Filing 17 3.9 Owned Real Property Filings 17 3.10 Allocation of Purchase Price 18 3.11 Additional Loans 19 4.1 Transitional Arrangements 19 4.2 Customers 20 4.3 Direct Deposits 21 4.4 Direct Debits 22 4.5 Escheat Deposits 22 4.6 Access to Records 23 4.7 Interest Reporting and Withholding 23 4.8 Negotiable Instruments 24 4.9 ATM/Debit Cards; POS Cards 24 4.10 Data Processing Conversion for the Branches and Handling of Certain Items 24 4.11 Information Regarding Mortgage Loans 26 4.12 Employee Training 26
Closing Procedures Adjustments. Closing.......................................................................................................................................... 14 3.2 Payment at Closing...................................................................................................................... 15 3.3 Adj ustment of Purchase Price.....................................................................................................15 3.4 Proration; Other Closing Date Adjustments.............................................................................16 3.5
Closing Procedures Adjustments