Draft Combined Closing Statement definition

Draft Combined Closing Statement means a draft combined closing statement reflecting and aggregating all transactions under the Exchange Agreements, the applicable portions of which will be prepared by First Community, as Seller under this Agreement and First Bank, as Seller under the Reciprocal Agreement, in a form mutually agreed to by the parties, which shall be initially prepared as of the close of business on the fifth (5th) Business Day preceding the Closing Date, and delivered to the other party on the third (3rd) Business Day preceding the Closing Date and which shall be subsequently updated as of the close of business on the third (3rd) Business Day preceding the Closing Date, and delivered to the other party on the Business Day prior to the Closing Date, in each case setting forth each Seller’s reasonable estimated calculation of both the Purchase Price and the Estimated Payment Amount.
Draft Combined Closing Statement means a draft combined closing statement reflecting and aggregating all transactions under the Exchange Agreements, the applicable portions of which will be prepared by First Bank, as Seller under this Agreement and First Community, as Seller under the Reciprocal Agreement, in a form mutually agreed to by the parties, which shall be initially prepared as of the close of business on the fifth (5th) Business Day preceding the Closing Date, and delivered to the other party on the third (3rd) Business Day preceding the Closing Date and which shall be subsequently updated as of the close of business on the third (3rd) Business Day preceding the Closing Date, and delivered to the other party on the Business Day prior to the Closing Date, in each case setting forth each Seller’s reasonable estimated calculation of both the Purchase Price and the Estimated Payment Amount.

Examples of Draft Combined Closing Statement in a sentence

  • The amount of such payment shall be reflected on the Draft Combined Closing Statement and the Final Combined Closing Statement.

  • At Closing, Purchaser shall pay to Seller one-half of such aggregate amount and such payment shall be reflected on the Draft Combined Closing Statement and the Final Combined Closing Statement.

  • All other provisions of this Agreement notwithstanding, such payments due under Section 3.2(a) of this Agreement and the Reciprocal Agreement shall be offset against each other pursuant to the Draft Combined Closing Statement, with one aggregate payment taking into account amounts due thereunder with respect to the Exchange as applicable by one party to the other.

Related to Draft Combined Closing Statement