New York Style Closing Clause Samples

A New York Style Closing is a method of finalizing real estate or financial transactions where all closing documents and funds are exchanged and settled simultaneously, typically at a formal meeting. In this process, parties gather—often in person or through their representatives—to sign documents, deliver funds, and transfer ownership or interests, ensuring that all conditions are met before the transaction is considered complete. This approach minimizes the risk of one party fulfilling their obligations while the other does not, thereby providing security and certainty for all involved.
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New York Style Closing. It is contemplated that the transaction shall be closed by means of a so-called New York Style Closing, with the concurrent delivery of the documents of title, transfer of interest, delivery of the title policy or marked-up title commitment described in Section 4.3(d) and the payment of the Purchase Price. Seller and Purchaser shall each provide any reasonable undertaking to the Title Company necessary to accommodate the New York Style Closing.
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New York Style Closing. It is contemplated that the transaction shall be closed by means of a so-called New York Style Closing, with the concurrent delivery of the documents of title, transfer of interest, delivery of the Title Policy or marked-up title commitment described in Section 4.3(d) and the payment of the Purchase Price. Seller and Purchaser agree that disbursement of the Purchase Price, as adjusted by the prorations, shall not be conditioned upon the recording of the Deed, but rather, upon the issuance of an irrevocable commitment by the Title Company to issue the Title Policy. Seller and Purchaser shall each provide any undertaking to the Title Company necessary to accommodate the New York Style Closing.
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New York Style Closing. The transaction shall be closed by means of a so-called New York Style Closing, with the concurrent delivery of the documents of title, transfer of interests, delivery of the owner's title policy and the disbursement to Seller of the Base Purchase Price. Seller shall provide any undertaking (the "Gap Undertaking") to the Title Insurer necessary to the New York Style Closing provided the Gap Undertaking will not cover encumbrances and title defects created by or through Purchaser or any tenants under Leases. Seller and Purchaser shall each pay 50% of the charges of the Title Insurer for such New York Style Closing.
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New York Style Closing. At the request of either party, the transaction shall be closed by means of a so-called New York Style Closing, with the concurrent delivery of the documents of title, transfer of interests, delivery of the title policy described in Section 5.01 and the payment of the Contribution Price. The Contributor shall provide and pay for any undertaking (the "Gap Undertaking") to the Title Company necessary for the New York Style Closing to occur. Contributor and Company shall each pay fifty percent (50%) of the charges of the Title Company for such New York Style Closing.
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New York Style Closing. At Buyer's written election, the sale of any particular Property may be closed by means of a so-called New York Style closing, with the concurrent delivery of the documents of title, transfer of interest, delivery of the "Owner's Title Policy" or "Owner's Title Commitment" (as such quoted terms are hereinafter defined) for such Property, and the payment of the Purchase Price for such Property, as adjusted for the allocations of transaction costs and prorations provided herein. In the event of a New York Style Closing for any particular Property, (a) the "CLOSE OF ESCROW" for such Property shall be the date of such concurrent deliveries, and (b) the applicable Seller (or all the Sellers if required by Escrow Holder) shall provide any undertaking, affidavit or indemnity (including a gap indemnity) to assist or enable the Title Company to accommodate the New York Style Closing. In no event shall Buyer be required to furnish any undertaking, affidavit or indemnity for a New York Style Closing.
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New York Style Closing. At the request of the Company or the Contributors, the transaction shall be closed by means of a so-called New York Style Closing, with the concurrent delivery of the documents of title, transfer of interests, delivery of the title policy or marked up Title Commitment described in Section 5.01 and the payment of the Contribution Price. The Contributors shall provide any undertaking (the "Gap Undertaking") to the Title Company necessary for the New York Style Closing to occur. The cost of New York style closing shall be paid by the Company unless the transaction fails to close, in which event Contributors and Company shall each pay fifty percent (50%) of the charges of the Title Company for such New York Style Closing.
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New York Style Closing. At Buyer's written election, the sale of any particular Property may be closed by means of a so-called New York Style closing, with the concurrent delivery of the documents of title, transfer of interest, delivery of the "Owner's Title Policy" or "Owner's Title Commitment" (as such quoted terms are hereinafter defined) for such Property, and the payment of the Purchase Price for such Property, as adjusted for the allocations of transaction costs and prorations provided herein. In the event of a New York Style Closing for any particular Property, (a) the "CLOSE OF ESCROW" for such Property shall be the date of such concurrent deliveries, and (b) the applicable Seller (or all the Sellers if required by Escrow Holder) shall provide any undertaking, affidavit or indemnity (including a gap indemnity) to assist or enable the Title Company to accommodate the New York Style Closing. In no event shall Buyer be required to furnish any undertaking, affidavit or indemnity for a New York Style Closing.
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New York Style Closing. It is contemplated that the transaction shall be closed by means of a so called New York Style Closing, with the concurrent delivery of the documents of title, the irrevocable commitment to deliver the Title Policy and the payment of the Purchase Price. Notwithstanding the foregoing, there shall be no requirement that Seller and Buyer physically meet for the Close of Escrow, and all documents to be delivered at the Close of Escrow shall be delivered to the Escrow Holder unless the parties hereto mutually agree otherwise. Seller and Buyer agree to use reasonable efforts to complete all requirements for the Close of Escrow prior to the Closing Date; provided, however, if the calendar day immediately preceding the Closing Date is not a business day, then Buyer at its option shall deposit the balance of the Purchase Price in Escrow on or prior to 9:00 A.M. (California time) on the Closing Date, or if the foregoing amount is deposited in Escrow after 9:00 A.M. (California time) on the Closing Date, then by such time so that the funds due Seller pursuant to this Agreement are received by Seller in sufficient time for reinvestment on the Closing Date and if the Closing occurs with the “Assumption” (as hereinafter defined), “Lender” (as hereinafter defined) receives the amount required for payoff of the “Existing Loan” (as hereinafter defined) by the time provided by Lender for payoff of the Existing Loan, and provided further, if such amount is deposited in Escrow after 9:00 A.M. (California time) on the Closing Date and the funds due Seller pursuant to this Agreement are not received by Seller in sufficient time for reinvestment on the Closing Date and/or if the Closing occurs without the Assumption, Lender does not receive the amount required for payoff of the Existing Loan by the time provided by Lender for payoff of the Existing Loan, then Buyer shall reimburse Seller for loss of interest due to the failure to reinvest Seller’s funds on the Closing Date and/or any interest charged by Lender for failure to receive the payoff amount by the time provided by Lender, as applicable. The provisions of the foregoing sentence shall survive the Close of Escrow. Seller and Buyer also agree that disbursement on the Closing Date of the Purchase Price, as adjusted by the prorations, shall not be conditioned upon the recording of the Deed, but rather upon the satisfaction or waiver of all conditions precedent to the Close of Escrow and the irrevocable agreement by the Title...
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Related to New York Style Closing

  • New York Stock Exchange The Securities shall be duly listed, subject to notice of issuance, on the New York Stock Exchange, satisfactory evidence of which shall have been provided to the Representative.

  • Purchase and Sale Closing (a) On the basis of the representations, warranties and agreements herein contained and subject to the terms and conditions herein set forth, the Company agrees to cause the Trustee to sell to the Underwriter, and the Underwriter agrees to purchase from the Trustee, at a purchase price of 100% of the face amount thereof, $193,440,000 of Class B Certificates. (b) Payment of the purchase price for, and delivery of, the Class B Certificates shall be made at the date, time and location or locations specified in Schedule I hereto, or at such other date, time or location or locations as shall be agreed upon by the Company and the Underwriter, or as shall otherwise be provided in Section 7 hereof (such date being herein called the “Closing Date” and such time being herein called the “Closing Time”). Payment shall be made to or upon the order of the Trustee by federal funds wire transfer or transfer of other immediately available funds against delivery to the account of the Underwriter at The Depository Trust Company (“DTC”). Such Class B Certificates shall be registered in the name of Cede & Co. or in such other names, and in such authorized denominations as the Underwriter may request in writing at least two full business days before the Closing Time. The certificates representing such Class B Certificates, which may be in temporary form, will be made available for examination and packaging by the Underwriter at the location or locations at which they are to be delivered at the Closing Time not later than 10:00 A.M. on the business day prior to the Closing Time. (c) The Company will pay to the Underwriter at the Closing Time for the account of the Underwriter any fee, commission or other compensation which is specified in Schedule I hereto. Such payment will be made by federal funds wire transfer or transfer of other immediately available funds.

  • The Closing (a) The closing (the “Closing”) of the sale of the Securities by the Seller to the Purchaser shall occur on or prior to May 30, 2018, as notified in writing by the Purchaser to the Seller at least three (3) Business Days in advance (the date on which the Closing occurs, the “Closing Date”). (b) At the Closing: (i) the Seller shall deliver, or cause to be delivered, to the Purchaser: (1) evidence of the credit of the Securities to the Purchaser’s account in accordance with the Deposit/Withdrawal At Custodian instructions provided by the Purchaser to the Seller in writing prior to the Closing; (2) a certificate duly executed by an authorized signatory of the Seller, dated as of the Closing Date, certifying that the conditions set forth in Section 4.2 have been satisfied; and (3) all such other documents and instruments, if any, that are mutually determined by the Seller and the Purchaser to be necessary to effectuate the transactions contemplated by this Agreement; and (ii) the Purchaser shall deliver, or cause to be delivered, to the Seller: (1) subject to Section 6.16, a wire transfer of immediately available funds into the account designated by the Seller in accordance with the wire instructions set forth on the Seller’s signature page hereto in an amount equal to the Aggregate Purchase Price minus the Signing Deposit; (2) a certificate duly executed by an authorized signatory of the Purchaser, dated as of the Closing Date, certifying that the conditions set forth in Section 4.1 have been satisfied; and (3) all such other documents and instruments, if any, that are mutually determined by the Seller and the Purchaser to be necessary to effectuate the transactions contemplated by this Agreement (c) Unless otherwise agreed in writing by the Seller and the Purchaser, all actions at the Closing are inter-dependent and will be deemed to take place simultaneously and no delivery or payment will be deemed to have been made until all deliveries and payments under this Agreement due to be made at the Closing have been made.

  • New York Stock Exchange Listing Application has been made, and the Securities shall have been listed and admitted and authorized for trading, subject to official notice of issuance, on the New York Stock Exchange so that trading on such exchange will begin within 30 days after the date of this Agreement.

  • First Closing The First Closing shall have occurred.