Closing and Transaction Costs Clause Samples

The "Closing and Transaction Costs" clause defines how the expenses associated with finalizing a transaction are allocated between the parties. It typically specifies which party is responsible for paying legal fees, filing charges, transfer taxes, and other administrative costs incurred during the closing process. By clearly outlining these financial responsibilities, the clause helps prevent disputes and ensures that both parties understand their obligations, thereby facilitating a smoother transaction.
Closing and Transaction Costs. 6.6.1 Seller and Buyer shall execute such returns, questionnaires and other documents as shall be required with regard to all applicable Transaction Taxes imposed by applicable federal, state or local Law. 6.6.2 Upon the Closing, Buyer shall be responsible for: (a) any Transaction Taxes in excess of the portion thereof that is the responsibility of Seller as provided in Section 6.6.3 below; (b) all expenses of or related to the issuance of any Title Policy (including the costs of any survey required by Buyer and/or the Title Company), any Title Endorsements and chain of title reports, and all fees and charges of Escrow Holder hereunder in excess of the applicable portion thereof that is the responsibility of Seller as provided in Section 6.6.3 below; (c) the charges for or in connection with the recording and/or filing of any instrument or document provided herein or contemplated by this Agreement, the Related Purchase Agreements or any agreement or document described or referred to herein or therein; (d) all reports or studies obtained by or at the direction of Buyer, including all appraisal, environmental, engineering or other third party reports and the fees or costs incurred in connection therewith; (e) Buyer’s legal, accounting and other professional fees and expenses incurred in connection with the transactions contemplated hereby, the Related Purchase Agreements and the Exhibits hereto and thereto; and (f) all other costs and expenses incurred in connection with the transactions contemplated hereunder, under the Related Purchase Agreements and the Exhibits hereto and thereto that are not the responsibility of Seller as provided in Section 6.6.3 below. 6.6.3 Upon the Closing, Seller shall be responsible for: (a) Twenty-Seven Percent (27%) of the sum of (i) any Transaction Taxes, and (ii) the cost of the Title Policy and Title Endorsements, provided, however, that neither Seller nor its Affiliates shall be responsible for (i) any Transaction Taxes or (ii) the cost of any Title Policies and Title Endorsements, in either case, pursuant to this Agreement or the Related Purchase Agreements in excess of One Million Dollars and 00/100ths ($1,000,000.00), in the aggregate; and (b) Seller’s legal, accounting and other professional fees and expenses incurred in connection with the transactions contemplated hereby and the Exhibits hereto. 6.6.4 Any personal property conveyed to Buyer as part of the Property is included in this sale as part of the Purchase Price...
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Closing and Transaction Costs. On the Closing Date, Peak will cause to be paid any unpaid Closing and Transaction Costs.
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Closing and Transaction Costs. The closing costs and other costs incurred in connection with the transactions contemplated by this Agreement shall be paid as follows: (i) all title insurance premiums (including fees to issue the Title Endorsement), all fees and costs incurred in connection with the Closing escrow, all survey costs, all recording and filing fees, all Existing Mortgage Debt and all costs incurred by Assignee in connection with Assignee's due diligence investigation of the Property shall be paid by Assignee; (ii) all transfer taxes (if any), and all fees and costs incurred in connection with the Option Escrow shall be paid by Assignee; provided, however, that in the event transfer taxes are assessed pursuant to 72 P.S. Section 8102-c.5(2) or 61 Pa. Code Section 91.202(a)(2) as a result of (a) any actions taken by Owners prior to, on or after Closing (other than actions taken in connection with the exercise of the Call Option or Put Option), Owners shall be solely responsible for the payment of the amount assessed, together with any penalties and interest thereon, or (b) any actions taken by Assignee on or after Closing. Assignee shall be solely responsible for the payment of the amount assessed, together with any penalties and interest thereon; and (iii) each of Assignee and Owners shall be solely responsible for the payment of its own legal counsel fees.
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Closing and Transaction Costs 
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Related to Closing and Transaction Costs

  • Transaction Costs Borrower shall have paid or reimbursed Lender for all title insurance premiums, recording and filing fees or taxes, costs of environmental reports, Physical Conditions Reports, appraisals and other reports, the fees and costs of Lender's counsel and all other third party out-of-pocket expenses incurred in connection with the origination of the Loan.

  • Closing Costs The costs attributed to the Closing of the Property shall be the responsibility of ☐ Buyer ☐ Seller ☐ Both Parties. The fees and costs related to the Closing shall include but not be limited to a title search (including the abstract and any owner’s title policy), preparation of the deed, transfer taxes, recording fees, and any other costs by the title company that is in standard procedure with conducting the sale of a property.

  • Closing and Escrow a. It shall be the obligation of the Seller to open an escrow for the purposes of this Agreement, and to pay all fees required for the opening. The Buyer shall pay all closing costs required for the closing thereof including, but not limited to, fees, taxes, title insurance costs, documentary stamp taxes and any miscellaneous escrow fees. b. Upon execution of this Agreement, the parties hereto shall deposit an executed counterpart of this Agreement with Title Company and this instrument shall serve as instructions to Title Company as the escrow holder for consummation of the purchase and sale contemplated herby. Seller and Buyer agree to execute such additional and supplementary escrow instructions as may be appropriate to enable the escrow holder to comply with the terms of this Agreement; provided, however, that in the event of any conflict between the provisions of this Agreement and any supplemental escrow instructions, the terms of this Agreement shall control. c. The Closing hereunder shall be held and delivery of all items at the Closing under the terms of this Agreement shall be made at the offices of the Title Company thirty (30) days from the date of this Agreement (the “Closing Date”). Such date may not be extended without the prior written approval of both Seller and Buyer, except as otherwise expressly provided in this Agreement. d. At or before the Closing, Seller shall deposit into escrow the following: i. A duly executed and acknowledged Grand Deed conveying rights to the Real Property to Buyer, subject to the Conditions of Title; and e. Before Closing, Buyer shall deposit into escrow the following items: i. Funds necessary to close this transaction, in accordance with Paragraph 3 above. f. Seller and Buyer shall each deposit such other instruments as are reasonably required by the escrow holder or otherwise required to close the escrow and consummate the purchase of the Real Property in accordance with the terms hereof.

  • Closing Escrow The Closing shall take place by means of a so called “New York style” escrow (the “Closing Escrow”), and, at or prior to the Closing, the Parties shall enter into a closing escrow agreement with the Escrow Agent with respect to the Closing Escrow in form and substance reasonably acceptable to Seller, Purchaser and the Escrow Agent (the “Closing Escrow Agreement”) pursuant to which (i) the Purchase Price to be paid by Purchaser pursuant to Section 3.3 shall be deposited with Escrow Agent, (ii) all of the documents required to be delivered by Seller and Purchaser at Closing pursuant to this Agreement shall be deposited with Escrow Agent, and (iii) at Closing, the Purchase Price (as adjusted pursuant to Section 3.1) and the ▇▇▇▇▇▇▇ Money shall be disbursed to Seller and the documents deposited into the Closing Escrow shall be delivered to Seller and Purchaser (as the case may be) pursuant to the Closing Escrow Agreement.

  • Seller’s Closing Costs Seller shall pay the following costs in connection with the consummation of the Closing: (i) all of the charges and transfer taxes for recording the deeds; (ii) all commissions owed to any broker in accordance with the terms of a separate agreement between Seller and such broker; and (iii) all other charges incurred by the Seller in connection with this Agreement (including, without limitation, the fees and expenses for the Seller’s attorneys and other consultants).