Common use of Gap Closing Clause in Contracts

Gap Closing. Seller and Buyer acknowledge and agree that the Close of Escrow shall be effectuated through a “gap” or ‘New York style” closing, which means that the Close of Escrow may occur without the concurrent or prior recordation of the Deed, so long as the Title Company has issued, or irrevocably committed to issue, the Title Policy in accordance with the terms and conditions of this Agreement, and agree to provide such documents required by Escrow Holder to effectuate same.

Gap Closing. Seller Buyer acknowledges and Buyer acknowledge and agree agrees that the Close of Escrow shall may be effectuated through a “gap” or ‘“New York style” closing, which means that the Close of Escrow may occur without the concurrent or prior recordation of the Deed, so long as the Title Company has issued, or irrevocably committed to issue, the Title Policy in accordance with the terms and conditions of this Agreement, and agree to provide such documents required by Escrow Holder to effectuate same.