Escrow Closing Date Clause Samples

Escrow Closing Date. (a) On the date hereof, the Purchaser shall deliver to his counsel, Kilpatrick Stockton LLP ("KP"), by wire transfer or cashier's check, the ▇▇▇ ▇▇ $▇▇▇,▇▇▇.▇▇, (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. 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. 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 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.

Escrow Closing Date. Escrow shall close on the date the Grant Deed is recorded. Subject to the following provisions of this section, the escrow must be in a condition to close no later than ninety (90) days from the date that this agreement is fully executed. Provided that: 1) CITY has not terminated the Agreement by the end of the Due Diligence Period; and 2) escrow does not close by the ninetieth (90th) day; GRANTOR shall be paid $15,000.00 from escrow and the CITY may elect to terminate this Agreement. However, the ninety-day escrow period may be extended for thirty (30) additional days if both of the following conditions are met: 1) escrow is not ready to close within the time provided by this section; and 2) on or before the ninetieth day of escrow the CITY delivers to escrow an additional nonrefundable fifteen thousand dollars ($15,000) (“Extension Deposit”). If CITY has elected to extend escrow by an additional 30 days as described above and escrow still has not closed by the end of the 30-day escrow extension GRANTOR shall also be paid the Extension Deposit and this Agreement shall be terminated. On the date of the closing, possession of the Subject Property shall be delivered to CITY, and GRANTOR shall deliver to CITY the originals of all leases and documents delivered prior to closing all correspondence with tenants and any keys, or other items used to provide full access to any and all areas of the Subject Property. In the event escrow closes within the original 90 days or if the escrow has been extended an additional 30 days pursuant to the terms herein, the sums paid into escrow by CITY shall be paid to GRANTOR and applied towards the purchase price of the Subject Property. GRANTOR agrees that notwithstanding any other provisions of this Agreement the forfeiture of the original $15,000.00 deposit and if escrow is extended, the additional Extension Deposit for a total of $30,000.00 shall be the sole and exclusive remedies for the termination of the Agreement by the CITY after the Due Diligence Period has ended. GRANTOR agrees that the forfeiture of the Deposit(s) constitutes full satisfaction of any and all claims that it may have arising out of the CITY’s termination of this Agreement following the ninetieth day of escrow.

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-

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 ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇tn: Phil▇▇

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. The term "Escrow Closing Date" shall mean the date of the Escrow Closing.