Disbursement of Escrow. At such time as a determination is made (pursuant to the provisions of Section 5.7 of the Purchase Agreement) that a Tenant has made an Overpayment, Seller shall so notify Escrow Agent (with a copy to Purchaser), stating in such notice the name and address of the Tenant and the amount to be reimbursed to such Tenant. Within five (5) days after receipt of such notice, Escrow Agent shall make the requested payment to the Tenant specified in Seller's notice out of the Escrow Amount.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Mack Cali Realty Corp), Purchase and Sale Agreement (Mack Cali Realty Corp)