Common use of Pre-Closing Settlement Statement Clause in Contracts

Pre-Closing Settlement Statement. At least three (3) business days prior to the Closing, Buyer and Seller shall provide to Escrow Agent as much information as is then available to enable Escrow Agent to prepare a pre-audit settlement statement setting forth in detail all prorations and adjustments contemplated by this Agreement based on the information available to Escrow Agent. Escrow Agent shall provide such pre-audit settlement statement to Buyer and Seller and their respective legal counsel no later than two (2) business days prior to the Closing and shall include therewith an indication of any specific information remaining to be provided to Escrow Agent by Buyer and Seller to enable Escrow Agent to show all final prorations and adjustments calculated by Buyer and Seller, and required by this Agreement. Such statement shall be approved by both Buyer and Seller in writing prior to Closing, such approval to be indicated by the parties signatures thereon.