Contract and Closing Clause Samples
The 'Contract and Closing' clause defines the procedures and requirements for finalizing an agreement and completing the transaction between the parties. It typically outlines the steps necessary to move from a signed contract to the actual transfer of goods, services, or property, such as setting a closing date, specifying required documents, and detailing payment arrangements. This clause ensures that both parties understand the timeline and obligations for closing, thereby reducing the risk of misunderstandings or delays in completing the deal.
Contract and Closing. Upon determination of the purchase price, the Owner and the Grantee shall enter into a written contract for the purchase and sale of the Property in accordance with the terms of this Agreement and containing such other terms and conditions as are standard and customary for similar commercial transactions in the geographic area which the Property is located, providing for a closing (the “Closing”) to occur in the [______], Virginia not later than the timeframes set forth in Section 2. In the absence of any such contract, this Agreement shall be specifically enforceable upon the exercise of the Refusal Right.
Contract and Closing. Upon determination of the Option Price, the Borrower and the County Board shall enter into a written contract for the purchase and sale of the Option Property in accordance with the terms of this Agreement and containing such other terms and conditions as are standard and customary for similar commercial transactions in the geographic area which the Option Property is located, providing for a closing not later than the date specified in the Option Exercise Notice or ninety (90) calendar days after the Option Price has been determined, whichever is later. In the absence of any such contract, this Agreement shall be specifically enforceable upon the exercise of the Option. The purchase and sale hereunder shall be closed through a deed-and-money escrow with the title insurer for the Option Property or another mutually acceptable title company. Upon closing, the Borrower shall deliver to the County Board, along with the deed to the Option Property, a standard coverage ALTA Owner’s Policy dated as of the close of escrow in the amount of the Property Price, subject to the liens, encumbrances and other exceptions then affecting the title. The County Board shall be responsible for all costs including, but not limited to, transfer taxes, title policy premiums and recording costs.
Contract and Closing. Upon determination of the Purchase Price, the Owner and the Grantee shall enter into a written contract for the purchase and sale of the Property in accordance with the terms of this Agreement and containing such other terms and conditions as are standard and customary for similar commercial transactions in the geographic area where the Property is located, providing for a closing (the “Closing”) to occur in [County in which Property is located], New Mexico not later than the timeframes set forth in Section 2. In the absence of any such contract, this Agreement shall be specifically enforceable upon the exercise of the Refusal Right.
Contract and Closing. Upon determination of the Purchase Price, the Owner and City shall enter into a written contract for the purchase and sale of the Leased Premises in accordance with this ROFRA and containing such other terms and conditions as are standard and customary for similar commercial transactions in the geographic area which the Leased Premises are located, providing for a closing not later than the date specified in City's notice of intent to exercise of the Refusal Right or thirty (30) days after the purchase price has been determined but in no event later than 120 days after notice has been given, whichever is later. In the absence of any such contract, this ROFRA shall be specifically enforceable upon the exercise of the Refusal Right. The purchase and sale hereunder shall be closed through a deed-and-money escrow with the title insurer for the Leased Premises or another mutually acceptable title company.
Contract and Closing. Upon determination of the purchase price, the Partnership and Grantee shall enter into a written contract for the purchase and sale of the Apartment Complex in accordance with this Agreement and containing such other terms and conditions as are standard and customary for similar commercial transactions in the geographic area which the Apartment Complex is located, providing for a closing not later than the date specified in the Grantee’s notice of intent to exercise the Refusal Right or thirty (30) days after the purchase price has been determined whichever is later. In the absence of any such contract, this Agreement shall be specifically enforceable upon the exercise of the Refusal Right, as applicable. The purchase and sale hereunder shall be closed through a deed-and-money escrow with the title insurer for the Apartment Complex or another mutually acceptable title company.
Contract and Closing. Within a reasonable time from acceptance by Synvasive of this letter agreement, the parties will endeavor to finalize and execute a contract for the purchase and sale of the described assets and items with the contract superceding and replacing this letter agreement with the exception of specific provisions herein. The intent of the parties is to finalize a contract within 45 days of the date of acceptance of this letter agreement, unless extended by EXACTECH to complete its due diligence. The date of closing will be scheduled for 15 days from the date of contract finalization, or on such later date as may be postponed pursuant to the terms and conditions of the contract, or unless extended by mutual agreement of the parties, such agreement not to be unreasonably withheld.