Common use of New York Style Closing Clause in Contracts

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.

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 5.1(e) and the payment of the Contribution Purchase Price. The Contributor Seller shall provide and pay for any undertaking (the "Gap Undertaking") to the Title Company necessary for to the New York Style Closing to occurClosing. Contributor Seller and Company Purchaser shall each pay fifty percent (50%) % of the charges of the Title Company for such New York Style Closing.