Escrow Closing Date. The parties acknowledge that they shall open the Escrow with the Title Company within three (3) business days of the Effective Date. The parties also agree that the parties shall execute, deliver and deposit the Escrow Instructions, if any, to the Title Company within two (2) business days after the Title Company prepares and delivers them to the parties. The parties shall consummate the transaction contemplated by this Agreement for the Property through the Escrow on or before the Closing Date. Except as set forth in Sections 7.1 and 7.2, if the Escrow does not close on or before the Closing Date, then this Agreement shall automatically terminate and the Deposit shall be retained by Seller, and except for the obligations of either party that survive termination, the parties shall have no further obligations to one another.
Escrow Closing Date. (a) On the date hereof, the Purchaser shall deliver to his counsel, Xxxxxxxxxx Xxxxxxxx LLP (“KP”), by wire transfer or cashier’s check, the sum of $400,000.00, (the “Escrowed Funds”), which funds are to be held in escrow by KP (the “KP Escrow”) pursuant to the Escrow Agreement (defined below).
Escrow Closing Date. The day that Illini releases proceeds from the Illini Offering from escrow in accordance with and pursuant to the terms of the Illini Offering.
Escrow Closing Date. In the event that any Transfer Documents remain in escrow with the Escrow Agent on the Escrow Closing Date, then not later than such date KCCI shall direct the Escrow Agent to deliver to KCCI, or to one or more designees of KCCI (which may be Affiliates of KCCI), all Transfer Documents remaining in escrow with the Escrow Agent, and, upon such date, subject to the License Transfer Obligations, all of the Management Contracts shall terminate and neither Borrower nor Manager shall have any further obligation to manage or operate any of the Projects. -11-
Escrow Closing Date. (i) Subject to the provisions of Section 2.9(e)(ii) of this Agreement, in the event that any Transfer Documents remain in escrow with the Escrow Agent on the Escrow Closing Date, then not later than such date KCCI shall direct the Escrow Agent to deliver to KCCI, or to one or more designees of KCCI (which may be Affiliates of KCCI), all Transfer Documents remaining in escrow with the Escrow Agent, and, upon such date, subject to the License Transfer Obligations, all of the Management Contracts shall terminate and neither Borrower nor Manager shall have any further obligation to manage or operate any of the Projects. (ii) Notwithstanding Section 2.9(e)(i) of this Agreement or anything else to the contrary in this Agreement, but without limiting KCCI's rights under this Agreement or the Workout Documents regarding environmental matters and any indemnities relating thereto, KCCI shall have the right, at its option and at its expense unless otherwise required to be delivered by Borrower pursuant to Section 4.1(u), at any time prior to the Escrow Closing Date, to obtain an updated Environmental Report (as defined in the Credit Agreement) for any Project(s), and Borrower hereby agrees that the right of access and grant of license to KCCI and the Lenders in Section 4.1(u) of this Agreement shall apply equally to exercise of KCCI's rights under this Section 2.9(e)(ii). In the event that (A) the updated Environmental Report or any report obtained by Borrower for any Project(s) pursuant to Section 4.1(u) of this Agreement or pursuant to any other Workout Document is not satisfactory to KCCI, in its sole discretion, and/or Borrower has failed by the Escrow Closing Date to perform in full its obligations under this Agreement regarding Environmental Laws as to such Project(s), or (B) Borrower otherwise has failed by the Escrow Closing Date to perform in full its obligations under this Agreement regarding Environmental Laws as to such Project(s), then, without limiting any other remedies available to KCCI under the Workout Documents or otherwise, KCCI (1) shall not be obligated to accept the Transfer Documents for such Project(s) and (2) may elect (y) to extend the Escrow Closing Date as to such Project(s) until ninety (90) days after Borrower has complied with its obligations under Section 4.1(u), or (z) to direct the Escrow Agent to forward the Transfer Documents for the Project(s) in question to Borrower rather than to KCCI. -14- (f)
Escrow Closing Date. 3.1 Within five (5) business days after the mutual execution of three (3) copies of this Agreement, the parties shall open an escrow ("Escrow") at Commerce Escrow Company, 1545 Xxxxxxxx Xxxxxxxxx, Xxx Xxxxxxx, Xxxxxxxxxx 00000, Xxtn: Philxx
Escrow Closing Date. The close of escrow for the conveyance of the Property shall occur on a date mutually acceptable to the City and the Developer, but in no event later than any applicable date imposed by TCAC for preservation of Developer’s tax credit allocation.
Escrow Closing Date. The earlier of: (a) on or before the third (3rd) Business Day following Escrow Agent’s receipt of written confirmation from each Party that all conditions precedent to the Close of Escrow for the benefit of that Party are satisfied or waived by the Party; or (b) [
Escrow Closing Date. The date mutually agreed upon in writing between the Parties for the Close of Escrow, which shall be no later than December 31, 2020, subject to extensions in the County’s discretion of up to an aggregate of one hundred and eight (180) calendar days.
