Draft Settlement Statement Clause Samples

Draft Settlement Statement. Not later than five (5) Business Days prior to the Closing Date, the Seller Parties shall prepare, or cause to be prepared, and deliver to the Purchaser Parties a draft settlement statement setting forth amounts to be prorated between the Seller Parties and the Purchaser Parties at the Closing pursuant to this Section 8(a), together with reasonable documentation supporting the information set forth in such settlement statement. The draft settlement statement shall contain the Seller Parties’ good faith estimate of the amounts (based on facts and circumstances then known to the Seller Parties), as of the anticipated applicable Adjustment Time, of the items to be prorated between the Parties, or to be credited to either Party, pursuant to this Section 8(a). The Purchaser Parties shall review the draft settlement statement and, not later than three (3) Business Days prior to the Closing Date, the Purchaser Parties shall furnish to the Seller Parties any comments which the Purchaser Parties may have with respect thereto, or any objection it may have to the amounts shown thereon, together with its reasons for such objection. Thereafter, the Parties (each acting reasonably and in good faith) shall attempt to resolve, prior to the Closing Date, any disagreement with respect to such draft settlement statement.