Closing Credit Clause Samples

Closing Credit. Notwithstanding the foregoing to the contrary, in the event that the transaction contemplated by this Agreement closes, then Buyer shall either pay directly on the Closing Statement (to the extent such costs have not yet been paid by Seller to the vendors) or if such costs have been paid by Seller to the vendors credit Seller at Closing on the Closing Statement for the cost of (e) above (the “Due Diligence Costs”) for any Property that is purchased by B▇▇▇▇, but in the event that Closing does not occur for a particular Property for any reason other than (1) Seller’s termination of this Agreement due to a default by Buyer pursuant to Section 11.2 of this Agreement (in which case Buyer shall reimburse Seller any Due Diligence Costs, as provided for in Section 11.2 below), (2) a termination of this Agreement by Seller due to a failure of the conditions precedent pursuant to Section 7.7 above (in which case Buyer shall reimburse Seller any Due Diligence Costs with respect to the applicable Property, as provided for in Section 7.7 above), or (3) Buyer’s termination of any Property prior to the expiration of the Inspection Date for any reason other than a Material Diligence Matter (in which case Buyer shall reimburse Seller any Due Diligence Costs with respect to the applicable property, as provided for in Section 7.3 above), then Seller shall remain responsible for such Due Diligence Costs for such terminated Properties, up to an aggregate amount of the Reimbursement. If the conditions precedent set forth in Section 7.5 above have been satisfied but the transaction does not close as a result of a default by Buyer pursuant to Section 11.2 below, then Buyer shall reimburse Seller any Due Diligence Costs incurred by Seller hereunder. If the conditions precedent set forth in Section 7.6 above have been satisfied, but the transaction does not close as a result of a default by Seller pursuant to Section 11.1 below, then Seller shall receive a credit against the Reimbursement to be paid by Seller to Buyer pursuant to Section 11.1 below for any such Due Diligence Costs paid by S▇▇▇▇▇ and not reimbursed by Buyer to Seller hereunder. If such Due Diligence Costs are in excess of the amount of the Reimbursement, then Buyer shall pay such excess to Seller within ten (10) business days after the date of the termination of this Agreement and receipt by Buyer of written request from Seller together with reasonable back up evidence of such expenses paid by Seller.

Closing Credit. At the Closing, Purchaser shall receive a credit against the Purchase Price in the amount of $750,000 in connection with certain capital improvements and repairs to the Property.

Closing Credit. Notwithstanding anything contained herein to the contrary, (i) at each Closing, Buyer shall be entitled to a credit against the Purchase Price for the Lots acquired by Buyer at the Closing in an amount equal to Five Thousand Two Hundred Thirty-Five and 80/100 Dollars ($5,235.80) per Lot that is the subject of such Closing; and (ii) at the Closing on the last Lot(s) to be purchased hereunder, Buyer shall be entitled to a credit against the Purchase Price for the Lot(s) acquired by Buyer at such final Closing in an amount equal to all then remaining ▇▇▇▇▇▇▇ Money, if any.

Closing Credit. At the Closing, Purchaser shall receive a credit against the Purchase Price in the amount of $136,208, in consideration for Purchaser’s acceptance of the Lender’s requirements that in connection with the loan assumption Purchaser shall fund (x) an escrow in the amount of $52,400 for certain roof and asphalt repairs and (y) $6,984 per month for a replacement reserve.

Closing Credit. Buyer shall obtain a credit against the Purchase Price in the amount of Forty Thousand Five Hundred Fifty and 00/100 Dollars ($40,550.00). Buyer shall be entitled to the credit in connection with the Closing of Properties occurring concurrently on the date hereof provided that Buyer consummates the acquisition of Silver Plaza.

Closing Credit. Seller hereby agrees that, at Closing, Purchaser shall receive (i) a credit of Eleven Thousand Three Hundred and No/100 Dollars ($11,300.00), with such amount constituting the parties' reasonably estimated cost to perform repainting of a fence, and (ii) a credit Four Thousand Three Hundred Twenty One and No/100 Dollars ($4,321.00), with such amount constituting the parties' reasonably estimated cost to perform repairing a brick wall, both as required pursuant to that certain non-compliance letter from Valley Ranch Association (the "Association") to Seller, dated October 21, 2003 (collectively, the "Repairs"). The credits shall be reflected on the settlement statement at Closing as a line item credit toward the net funds due from Purchaser. Purchaser shall assume full responsibility for the Repairs, and if for any reason the total cost of the Repairs exceeds the amount of the foregoing credit, said costs shall be borne by Purchaser. Purchaser acknowledges that Seller shall have no further obligation or liability whatsoever with respect to the Repairs.

Closing Credit. Section 3 of the First Amendment is hereby deleted in its entirety.

Closing Credit. The Parties agree that ▇▇▇▇▇ Tulsa shall receive a credit at Closing of Sixty-Eight Thousand One Hundred Fifty-Four Dollars and Five Cents ($68,154.05), to address certain pre-Closing matters, to be applied toward the cash amounts payable by ▇▇▇▇▇ Tulsa to Seller at the Closing pursuant to Section 2.6.1.2(1), as such amounts have been agreed upon by the Parties and set forth in a certain spreadsheet distributed between them addressing such matter.

Closing Credit. At Closing, Buyer shall receive a credit (which shall be in addition to all other credits, prorations and other adjustments to which Buyer is entitled under the Agreement) in the amount of SEVEN HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($750,000.00), which amount represents certain outstanding capital expenditure work and certain tenant improvements work required for the Property. Except as specifically set forth in the Agreement or in this Amendment, after the Closing Date, all costs for capital expenditures and tenant improvements work, other than the Work, will be the sole responsibility of the Buyer.