Second Close definition
Examples of Second Close in a sentence
At the Second Close of Escrow, Seller shall execute and deliver to Buyer through Escrow a Grant Deed conveying to Buyer fee simple title to Parcel B.
Buyer and Seller agree to execute all such instruments and documents and to take all actions pursuant to the provisions hereof in order to consummate the purchase and sale herein contemplated and shall use their best efforts to accomplish the First and Second Close of Escrow in accordance with the provisions hereof, or to further perfect the conveyance, transfer and assignment of the Property to Buyer.
Prior to the First Close of Escrow, Buyer shall execute and deliver to Escrow Holder a request for reconveyance, in Escrow Holder's standard form, requesting the reconveyance of Parcel B from the lien of the Deed of Trust in the event Buyer defaults under this Agreement prior to the Second Close of Escrow and Seller elects to terminate this Agreement without drawing upon the Letter of Credit.
If and to the extent any portion of the Property to be purchased by Buyer is annexable but has not been annexed into the land covered by the Declaration of Covenants, Conditions and Restrictions for the Retention Basin Area Association, such portion of the Property shall be so annexed at or prior to the Second Close of Escrow.
This corresponds to 71.00% of the Company’s fully paid up and subscribed shares in circulation, and at the Second Close Date, subject to meeting the Conditions Precedent of the Second Close, the Sellers shall transfer to the Purchaser their equity share and Company shares as indicated in Annex E of this Agreement against each Seller, which corresponds to 23.51% of the Company’s fully paid up and subscribed shares in circulation.
At the Second Close of Escrow, Escrow Holder shall (i) cause the Grant Deed for Parcel B to be recorded in San Diego County; (ii) deliver to Seller the Parcel B Purchase Price, plus or minus Seller's share of any expenses or prorations.
PUBLISHER REGION means: (i) from and after the date of the first closure, the territory consisted of seven states of Colorado, Iowa, Minnesota, Nebraska, New Mexico, North Dakota and South Dakota and the city of El Paso, Texas; and (ii) from and after the Second Close Date, the aforementioned territory together with the territory consisting of the Dex region, both subject to and after addition to it in accordance with the terms of the Publishing Agreement.
The purpose of the Ground Lease is to provide Buyer with an interest in Parcel B sufficient to obtain construction permits for the development thereof, and all rent payable pursuant thereto shall be credited against the Parcel B Purchase Price at the Second Close of Escrow.
The Title Policy issued at the Second Close of Escrow shall provide coverage in the amount of the Parcel B Purchase Price.