Common use of Obligations Upon Closing Clause in Contracts

Obligations Upon Closing. At the closing: (a) Seller shall deliver to Buyer an Assignment in the form of Exhibit "A" attached hereto, transferring all of its right, title and interest in and to its interest and Membership in the Company; (b) Seller shall deliver to Buyer a Quitclaim Deed to the Property. (c) Buyer shall deliver to Seller the sum of Nine Hundred Thousand Dollars U.S. ($900,000.00). (d) Buyer shall also deliver to Seller a stock certificate for 1,000,000 fully paid and non-assessable restricted shares of Common stock of Newgold, Inc. Buyer agrees to commence registration of such shares within six (6) months of Buyer's listing on the NASDAQ Bulletin Board.

Obligations Upon Closing. At the closing:: ------------------------ (a) Seller shall deliver to Buyer an Assignment in the form of Exhibit "A" attached hereto, transferring all of its right, title and interest in and to its interest and Membership in the Company; (b) Seller shall deliver to Buyer a Quitclaim Deed to the Property. (c) Buyer shall deliver to Seller the sum of Nine Hundred Thousand Dollars U.S. ($900,000.00). (d) Buyer shall also deliver to Seller a stock certificate for 1,000,000 fully paid and non-assessable restricted shares of Common stock Stock of Newgold, Inc. Buyer agrees to commence registration of such shares within six (6) months of Buyer's listing on the NASDAQ Bulletin Board.