Common use of Dry Closing Clause in Contracts

Dry Closing. At the election of either Sellers or Purchaser by written notice to the other party (which notice may be given by electronic mail and may be given by either party’s counsel to the other party’s counsel), (a) Sellers and Purchaser shall conduct a “dry” closing on the Business Day immediately preceding the Closing Date, at which fully-executed documents required pursuant to this Agreement shall be assembled and deposited in escrow, with Purchaser depositing its required funds for Closing on the Closing Date at or before the time specified above; and (b) the parties shall conduct the Closing at the offices of Seller’s counsel in Washington, DC rather than via escrow with the Escrow Agent.

Dry Closing. At the election of either Sellers Seller or Purchaser by written notice to the other party (which notice may be given by electronic mail and may be given by either party’s counsel to the other party’s counsel), (a) Sellers Seller and Purchaser shall conduct a “dry” closing on the Business Day immediately preceding the Closing Date, at which fully-executed documents required pursuant to this Agreement shall be assembled and deposited in escrow, with Purchaser depositing its required funds for Closing on the Closing Date at or before the time specified above; and (b) the parties shall conduct the Closing at the offices of Seller’s counsel in Washington, DC rather than via escrow with the Escrow Agent.