POST-CLOSING POSSESSION Sample Clauses
The Post-Closing Possession clause establishes the terms under which the buyer or seller may occupy the property after the official closing date of a real estate transaction. Typically, this clause outlines the duration of post-closing occupancy, any rental payments or security deposits required, and the responsibilities for utilities, maintenance, and insurance during this period. Its core function is to provide a clear framework for temporary possession, preventing disputes and ensuring both parties understand their rights and obligations after closing but before final move-out or move-in.
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POST-CLOSING POSSESSION. [Buyer Initials ] [Seller Initials ] Possession shall be delivered no later than 11:59 P.M. on the date that is days after the date of Closing (“the Possession Date”). Seller shall be responsible for all utilities, contents and liability insurance, and home maintenance expenses until delivery of possession. Seller shall deposit in escrow at Closing with , [choose one] ❑ one percent (1%) of the Purchase Price or ❑ the sum of $ to be paid by ▇▇▇▇▇▇▇▇ as follows:
(a) The sum of $ per day for use and occupancy from and including the day after Closing to and including the day of delivery of Possession, if on or before the Possession Date;
(b) The amount per day equal to three (3) times the daily amount set forth herein shall be paid for each day after the Possession Date specified in this paragraph that Seller remains in possession of the Apartment; and
(c) The balance, if any, to Seller after delivery of Possession and provided that the terms of Paragraph 13 have been satisfied. Seller’s liability under this paragraph shall not be limited to the amount of the possession escrow deposit referred to above. Nothing herein shall be deemed to create a Landlord/Tenant relationship between the Parties.
POST-CLOSING POSSESSION. Purchaser will have possession of the Unit on December 18, 2021, assuming completion of the Closing prior to such date. After Purchaser takes possession, portions or phases of the Project may remain uncompleted. Seller and its agents, contractors, and employees will have the right to enter on the Project as necessary to complete the Project, and Purchaser acknowledges that construction activities may take place on the site after Purchaser takes possession of the Unit. Seller and its agents, contractors and employees will take reasonable measures relative to the safety of Purchaser and Purchaser’s lessees, guests and invitees. Purchaser acknowledges that Purchaser's possession will constitute Purchaser’s agreement that Purchaser, Purchaser's family and invitees will remain outside of any fenced or posted construction areas and any other areas in which work is being performed pending completion of the Project and that Purchaser will indemnify and hold harmless Seller and its agents, contractors and employees from and against any and all loss or liability on account of such entry by Purchaser or such other persons. The terms and covenants of this Section 12 will survive the Closing. Further, the terms and covenants of this Section 12 are supplemental to and are not substituted for the covenants, conditions, and restrictions set forth in the Declaration and/or the Master Declaration.
POST-CLOSING POSSESSION. Subject to the terms and provisions of section 7.2 below, possession of the Real Estate shall be delivered to Offeror on or before February 1, 2023 (“Post Closing Possession Period”). During the Post Closing Possession Period, Owner shall be responsible for the costs of all utilities in operating the Real Estate; shall maintain the Real Estate in a good and sightly condition; shall keep in force and effect public liability insurance in an amount no less than Three Million and 00/100 Dollars (3,000,000.00) and name Offeror as an additional insured and shall be responsible for the ordinary and routine maintenance of the Real Estate but in no event shall be responsible for structural, roofing, plumbing, heating and ventilation systems replacements, upgrades or maintenance. Owner shall not be responsible for any rent, real estate taxes or any other expense during this Post Closing Possession Period except as set forth in this Section 7.1..
POST-CLOSING POSSESSION. [Buyer Initials] [Seller Initials] Possession shall be delivered no later than 11:59 P.M. on the date that is days after the date of Closing (“the Possession Date”). Seller shall be responsible for all utilities, contents and liability insurance, and maintenance expenses until delivery of Possession. Seller shall deposit in escrow at Closing with 440 [choose one] ❑ one percent (1%) of the Purchase Price or ❑ the 441 442 443 444 445 446 447 448 449 450 451 452 453 454 sum of $ to be paid by ▇▇▇▇▇▇▇▇ as follows: a) The sum of $ per day for use and occupancy from and including the day after Closing to and including the day of delivery of possession if on or before the Possession Date; b) The amount per day equal to three (3) times the daily amount set forth herein shall be paid for each day after the Possession Date specified in this paragraph that Seller remains in possession of the real estate; and