SECTION 1033 EXCHANGE Sample Clauses
POPULAR SAMPLE Copied 7 times
SECTION 1033 EXCHANGE. Seller may consummate the sale of the Real Property as part of a so-called like kind exchange (the “Exchange”) pursuant to Section 1033 of the Internal Revenue Code of 1986, as amended (the “Code”), provided that: (i) the Closing shall not be delayed or effected by reason of the Exchange by more than one (1) year following the Effective Date, nor shall the consummation or accomplishment of the Exchange be a condition precedent or condition subsequent to any obligations under this Agreement, (ii) the Exchange shall be effected through a qualified intermediary, and Buyer shall not be required to take an assignment of this Agreement or hold title to any real property for purposes of effecting the Exchange, and
SECTION 1033 EXCHANGE. If requested, ▇▇▇▇▇ agrees to reasonably cooperate with Seller in an exchange of real property in accordance with the provisions of Section 1031 of the Internal Revenue Code of 1986, as amended, including entering into an irrevocable exchange trust agreement, provided that Buyer shall not be required to assume any obligations or take title to any property and shall not be personally liable in such transaction. Seller shall indemnify, defend, and hold Buyer harmless for, from and against any loss, costs, liabilities, claims, demands and expenses (including reasonable attorneys’ fees) incurred or sustained by reason of ▇▇▇▇▇’s participation in a Section 1031 exchange with ▇▇▇▇▇▇.