At Settlement Sample Clauses
The "At settlement" clause defines the actions, obligations, and procedures that must occur at the time when the transaction is finalized and ownership or rights are transferred. Typically, this clause outlines the delivery of documents, payment of the purchase price, and the transfer of possession or title to the buyer. It ensures that both parties fulfill their respective duties simultaneously, thereby reducing the risk of non-performance and providing a clear framework for the completion of the transaction.
At Settlement. (a) the purchaser must pay the balance; and
(b) the vendor must:
(i) do all things necessary to enable the purchaser to become the registered proprietor of the land; and
(ii) give either vacant possession or receipt of rents and profits in accordance with the particulars of sale.
At Settlement. Seller agrees to pay for a standard-coverage owner's policy of title insurance insuring Buyer in the amount of the Purchase Price.
At Settlement the Buyer must give the Seller, in exchange for the Bank Guarantee, bank cheques totalling the amount secured by the Bank Guarantee. The bank cheques must be payable as directed by the Seller and must be provided at the same time the Buyer pays the Balance Purchase Price.
At Settlement. Eligible Buyer will provide one hundred (100%) percent of the closing costs and prepaids.
At Settlement. Sellers shall deliver to Buyers duly executed originals and all other documents as reasonably may be required to consummate this transaction in accordance with this Agreement.
At Settlement the Buyer shall pay Seller, in cash or by certified, cashier's, treasurer or title company check, or by wire transfer, the Purchase Price determined for the Property.
At Settlement. Seller shall deliver to Buyer duly executed originals of the following, limited to documents relating to the First Settlement Property at the First Settlement and documents relating to the Second Settlement Property at the Second Settlement:
(i) Special warranty deeds to the Real Property duly executed and acknowledged by Seller and in proper form for recording and substantially in the forms for each State attached hereto as Exhibit “D” (the “Deeds”);
(ii) A valid xxxx of sale for the Personal Property, if any, in substantially the form attached hereto as Exhibit “E”;
(iii) A valid assignment of the Leases, duly executed and acknowledged, pursuant to which Seller shall assign to Buyer all of Seller’s right, title and interest in and to the Leases and Buyer shall assume the obligations of Seller under the Leases. Such assignment shall include an indemnification from Seller to Buyer against liability for claims asserted against Buyer under the Leases for events occurring prior to Settlement and an indemnification from Buyer to Seller against liability for claims asserted against Seller for events occurring from and after Settlement, and shall be substantially in the form attached hereto as Exhibit “F”;
(iv) A letter, substantially in the form attached hereto as Exhibit “G”, addressed to each tenant informing it of the sale;
(v) A Nonforeign Person Certification in the form attached hereto as Exhibit “H”, as required under Section 1445 of the Internal Revenue Code;
(vi) An assignment in form and substance mutually satisfactory to Seller and Buyer, pursuant to which Seller shall assign to Buyer all of Seller’s right, title and interest in and to the Surviving Agreements, if any, and Buyer shall assume the obligations of Seller under the Surviving Agreements. Such assignment shall include an indemnification from Seller to Buyer against liability for claims asserted against Buyer under the Surviving Agreements for events occurring prior to Settlement and an indemnification from Buyer to Seller against liability for claims asserted against Seller for events on and occurring after Settlement, and shall be substantially in the form attached hereto as Exhibit “I”;
(vii) To the extent not previously made available to Buyer, originals of the following instruments (or copies if originals are unavailable):
(A) the Leases;
(B) the Tenant and any Seller Estoppel Certificates;
(C) the Surviving Agreements; and
(D) any active roof warranties.
(viii) All keys and combination...
At Settlement. Buyer shall deliver to seller duly executed originals of the documents referred to in Section 6(e)(ii), 6(e)(iii), and 6(e)(vi).
At Settlement. Seller agrees to pay for a standard-coverage owner's policy of title insurance insuring Buyer in the amount of the Purchase Price. The title policy shall conform with Seller's obligations under Section 10.1 and with the Commitment for Title Insurance as agreed to by Buyer under Section 8. (c) [ ] BUYER ELECTS TO OBTAIN A FULL-COVERAGE EXTENDED ALTA POLICY OF TITLE INSURANCE. The cost of this coverage (including the ALTA survey), above that of the standard-coverage Owner's policy, shall be paid for at Settlement by: [ ] BUYER [ ] SELLER [ ] OTHER ______ .
At Settlement. Purchaser shall pay the Total Purchase Price for the Unit and, upon receipt thereof, Seller shall deliver the deed for the Unit. Purchaser shall be entitled to occupy and have possession of the Unit, from and after Settlement. Purchaser shall pay at Settlement all settlement costs not previously paid, including, without limitation, credit report fee, lender's appraisal fee, District of Columbia Real Property Recordation Tax (1.1% if under $400,000 and 1.45% if over $400,000 as of October 1, 2006, or the then current rate in effect in the District of Columbia at the time of Settlement), document recordation charges, fees for title examination, preparation of all documents of conveyancing and all mortgage instruments, settlement fees, notary fees, and fees for mortgagee's title insurance, private mortgage insurance premiums, if any, any loan origination, discount or similar fees, and fees for owners title insurance (if obtained) and other charges in the nature of prepaid expenses, escrows for taxes and the like. Purchaser shall also pay all Condominium assessments and initial capital contribution, as set forth in Paragraphs 5 and 7.5 respectively, due at Settlement. Seller will pay the D.C. Transfer Tax (1.1% if under $400,000 and 1.45% if over $400,000 as of October 1, 2006, or the then current rate in effect in the District of Columbia at the time of Settlement). ____________ _______________