Common use of Date and Manner of Closing Clause in Contracts

Date and Manner of Closing. Escrow Agent shall close the Escrow (the "Closing") on a date mutually agreeable to Buyer and Seller but which is in no event later than sixty (60) days following the date upon which this Agreement is last executed by Buyer or Seller (the "Scheduled Closing Date"), provided that all of the conditions to Buyer's obligation to purchase have been either satisfied Or waived. The Escrow shall be deemed closed when (i) Title Company is irrevocably committed to issuing the Title Policy and (ii) Escrow Agent delivers the funds and documents for the Property as set forth in Section t0. Distribution of funds and documents shall occur WHEN AND ONLY WHEN each of the following conditions has been satisfied: 8.1.1 All documents required to be delivered to Buyer and Escrow Agent pursuant to this Agreement have been delivered or delivery of such document(s) has been waived. 8.1.2 The Title Company is prepared to issue the Title Policy for the Property. 8.1.3 All funds for the Property required to be delivered to Seller and Escrow Agent pursuant to this Agreement have been delivered.