Common use of Pre-Closing Clause in Contracts

Pre-Closing. Purchaser acknowledges that ▇▇▇▇▇▇ intends to, and agrees that Seller may, prepare for Closing by requiring Purchaser to have all documents necessary for Closing executed and deposited with Escrow at any time prior to the Closing Date ("Pre-Closing"). Purchaser acknowledges that regardless of the status of construction of the Project and in order to accommodate a bulk closing of units by Seller, Seller may require Pre-Closing on a date selected by Seller, within Seller's sole discretion ("Pre-Closing Date"). The Pre-Closing Date may be set up to one hundred eighty (180) calendar days prior to the Closing Date. To accomplish this, any time after the Effective Date of this Purchase Agreement, and upon receiving not less than thirty (30) calendar days' written notice of Pre-Closing from Seller ("Pre-Closing Notice"), Purchaser's mortgagee(s), or Escrow, Purchaser agrees to take and complete any action that may be necessary to enable Closing, and Purchaser will execute at Pre-Closing all documents required for Closing including, without limitation, the Unit Deed and all promissory notes, mortgages, and other loan documents necessary for Purchaser's financing of the Unit, all receipts for notices and disclosures, the conveyance tax certificate, and a closing statement based on Seller's estimate of the date the Unit will be available for occupancy. The Pre-Closing Notice may establish a schedule with differing dates for certain requirements for the Pre-Closing to be met by Purchaser. The Pre-Closing Notice shall establish the date(s) on which all of Purchaser's funds required to close the sale of the Unit shall be due (the "Funding Deadline"), including the balance of the Total Purchase Price payable in cash, Purchaser's mortgage loan proceeds, Closing Costs and Prorations, start-up and maintenance fees, and other amounts payable by Purchaser hereunder. The Funding Deadline may be any date selected by Seller up to and including thirty (30) calendar days prior to the scheduled Closing Date. This Purchase Agreement shall constitute Seller's and Purchaser's written authorization to Escrow to date all documents, to add filing information, and to adjust the estimated prorations in accordance with the provisions of this Purchase Agreement. Purchaser may be permitted by Seller to execute documents on another island or outside of the State of Hawaii and return the same by registered or certified mail, return-receipt requested. In the event that Purchaser requests changes to the Unit Deed and other documents required for Closing later than twenty (20) calendar days prior to the Pre-Closing Date, Purchaser may be assessed a document revision fee for such changes.

Pre-Closing. As is standard business practice in Hawaii, Purchaser acknowledges that ▇▇▇▇▇▇ Seller intends to, and agrees that Seller may, prepare for Closing by requiring Purchaser to have all documents necessary for Closing executed and deposited with Escrow ▇▇▇▇▇▇ at any time prior to the Closing Date selected by Seller ("Pre-Pre‐ Closing"). Purchaser acknowledges that regardless of the status of construction of the Project and in order to accommodate a bulk closing of units by SellerProject, Seller may require Pre-Closing Pre‐Closing on a date selected by Seller, within Seller's ’s sole discretion ("Pre-Closing Pre‐Closing Date"). The Pre-Closing To accommodate a bulk closing of the units by Seller, the Pre‐Closing Date may be set up to one hundred eighty (180) calendar days prior to the Closing Date. To accomplish this, any time after the Effective Date of this Purchase Agreement, and upon receiving not less than thirty (30) calendar days' ’ written notice of Pre-Closing Pre‐Closing from Seller or Escrow ("Pre-Pre‐ Closing Notice"), Purchaser's mortgagee(s), or Escrow, Purchaser agrees to take and complete any action and all actions that may be necessary to enable ClosingClosing on the Closing Date, including, without limitation, completion of any pre‐closing tasks set forth in the Pre‐ Closing Notice by the due dates set forth therein ("Pre‐Closing Tasks"). If Purchaser is financing the purchase of the Unit, Purchaser hereby acknowledges and agrees that such Pre‐Closing Tasks may require Purchaser to submit a final and binding loan commitment letter ("Letter of Guaranty") from Purchaser's lender to Escrow by the due date specified in the Pre‐Closing Notice, and if said Letter of Guaranty is not delivered to Escrow by such date, Purchaser will shall be deemed to be in default of this Purchase Agreement, whereupon Seller may exercise its remedies as set forth in Section A.35 of this Purchase Agreement. Not later than the Pre‐Closing Date (or such other due date set forth in the Pre‐Closing Notice), Purchaser shall execute at Pre-Closing all documents required for Closing Closing, including, without limitation, the Unit Deed and all promissory notes, mortgages, mortgages and other loan documents necessary for Purchaser's ’s financing of the Unit, all receipts for notices and disclosures, the conveyance tax certificate, certificate and a closing statement based on Seller's ’s estimate of the date the Unit will be available for occupancy. The Pre-Closing Notice may establish a schedule with differing dates for certain requirements for the Pre-Closing to be met by Purchaser. The Pre-Closing Notice shall establish the date(s) on which all of Purchaser's funds required to close the sale of the Unit shall be due (the "Funding Deadline"), including the balance of the Total Purchase Price payable in cash, Purchaser's mortgage loan proceeds, Closing Costs and Prorations, start-up and maintenance fees, and other amounts payable by Purchaser hereunder. The Funding Deadline may be any date selected by Seller up to and including thirty (30) calendar days prior to the scheduled Closing Date. This Purchase Agreement shall constitute Seller's ’s and Purchaser's ’s written authorization to Escrow to date all documents, to add filing information, information and to adjust the estimated prorations in accordance with the provisions of this Purchase Agreement. Purchaser may be permitted by Seller to execute documents on another island within the State or outside of the State of Hawaii and return the same by registered or certified mail, return-receipt return‐receipt requested. As set forth in Section C above, in the event that Purchaser fails to designate the type of tenancy for the vesting of title at least fifteen (15) calendar days prior to the Pre‐Closing Date, purchasers who are sole owners will take title as tenants in severalty; multiple purchasers other than married couples will take title as tenants in common; and married couple purchasers will take title as tenants by the entirety. If Purchaser consists of more than one married couple, or a couple and an individual, corporation or partnership, the couple (or each couple if there are more than one) will take title as tenants by the entirety as to each other, and the couple (or each couple if there are more than one) will be a tenant in common with every other couple, individual, corporation or partnership. Whenever a couple, individual, corporation or partnership takes title with another couple, individual, corporation or partnership as tenants in common, each tenant in common will take an equal interest, unless Purchaser specifies otherwise at least fifteen (15) calendar days prior to the Pre‐Closing Date. In the event that Purchaser requests changes to the Unit Deed and other documents required for Closing later than twenty fifteen (2015) calendar days prior to the Pre-Closing Pre‐Closing Date, Purchaser may be assessed a document revision fee for such changes. If Purchaser is a trust, partnership, corporation, limited liability company or other business entity, Purchaser will be required to furnish appropriate resolutions and other evidence of authority to purchase the Unit and execute documents as Seller or Escrow may reasonably request, including, but not limited to, the documents set forth in the Note to Section B above.

Pre-Closing. Purchaser acknowledges that ▇▇▇▇▇▇ Seller intends to, and agrees that Seller may, prepare for Closing by requiring Purchaser to have all documents necessary for Closing executed and deposited with Escrow ▇▇▇▇▇▇ at any time prior to the Closing Date selected by Seller ("Pre-ClosingPre‐Closing"). Purchaser acknowledges that regardless of the status of construction of the Project and in order to accommodate a bulk closing of units by SellerProject, Seller may require Pre-Closing Pre‐Closing on a date selected by Seller, within Seller's ’s sole discretion ("Pre-Closing Pre‐Closing Date"). The Pre-To accommodate a bulk closing of the units by Seller, the Pre‐ Closing Date may be set up to one hundred eighty (180) calendar days prior to the Closing Date. To accomplish this, any time after the Effective Date of this Purchase Agreement, and upon receiving not less than thirty (30) calendar days' ’ prior written notice of Pre-Closing Pre‐Closing ("Pre‐Closing Notice") from Seller ("Pre-Closing Notice"), Purchaser's ’s mortgagee(s), ) or Escrow, Purchaser agrees to take and complete any action that may be necessary to enable Closing, and Purchaser will execute at Pre-Closing Pre‐Closing all documents required for Closing Closing, including, without limitation, the Unit Deed and all promissory notes, mortgages, mortgages and other loan documents necessary for Purchaser's ’s financing of the Unit, all receipts for notices and disclosures, the conveyance tax certificate, certificate and a closing statement based on Seller's ’s estimate of the date the Unit will be available for occupancy. The Pre-Closing Notice may establish a schedule with differing dates for certain requirements for the Pre-Closing to be met by Purchaser. The Pre-Closing Notice shall establish the date(s) on which all of Purchaser's funds required to close the sale of the Unit shall be due (the "Funding Deadline"), including the balance of the Total Purchase Price payable in cash, Purchaser's mortgage loan proceeds, Closing Costs and Prorations, start-up and maintenance fees, and other amounts payable by Purchaser hereunder. The Funding Deadline may be any date selected by Seller up to and including thirty (30) calendar days prior to the scheduled Closing Date. This Purchase Agreement shall constitute Seller's ’s and Purchaser's ’s written authorization to Escrow to date all documents, to add filing information, information and to adjust the estimated prorations in accordance with the provisions of this Purchase Agreement. Purchaser may be permitted by Seller to execute documents on another island within the State or outside of the State of Hawaii and return the same by registered or certified mail, return-receipt return‐receipt requested. As set forth in Section C above, in the event that Purchaser fails to designate the type of tenancy for the vesting of title at least fifteen (15) calendar days prior to the Pre‐Closing Date, purchasers who are sole owners will take title as tenants in severalty; multiple purchasers other than married couples will take title as tenants in common; and married couple purchasers will take title as tenants by the entirety. If Purchaser consists of more than one married couple, or a couple and an individual, corporation or partnership, the couple (or each couple if there are more than one) will take title as tenants by the entirety as to each other, and the couple (or each couple if there are more than one) will be a tenant in common with every other couple, individual, corporation or partnership. Whenever a couple, individual, corporation or partnership takes title with another couple, individual, corporation or partnership as tenants in common, each tenant in common will take an equal interest, unless Purchaser specifies otherwise at least fifteen (15) calendar days prior to the Pre‐Closing Date. In the event that Purchaser requests changes to the Unit Deed and other documents required for Closing later than twenty fifteen (2015) calendar days prior to the Pre-Closing Pre‐Closing Date, Purchaser may be assessed a document revision fee for such changes. If Purchaser is a trust, partnership, corporation, limited liability company or other business entity, Purchaser will be required to furnish appropriate resolutions and other evidence of authority to purchase the Unit and execute documents as Seller or Escrow may reasonably request, including, but not limited to, the documents set forth in the Note to Section B above.

Pre-Closing. Purchaser acknowledges that ▇▇▇▇▇▇ intends to, and agrees that Seller may, prepare for Closing by requiring Purchaser to have all documents necessary for Closing executed and deposited with Escrow ▇▇▇▇▇▇ at any time prior to the Closing Date selected by Seller ("Pre-Closing"). Purchaser acknowledges that regardless of the status of construction of the Project and in order to accommodate a bulk closing of units by SellerProject, Seller may require Pre-Closing on a date selected by Seller, within Seller's ’s sole discretion ("Pre-Closing Date"). The Pre-To accommodate a bulk closing of the units by Seller, the Pre- Closing Date may be set up to one hundred eighty (180) calendar days prior to the Closing Date. To accomplish this, any time after the Effective Date of this Purchase Agreement, and upon receiving not less than thirty (30) calendar days' ’ prior written notice of Pre-Closing from Seller ("Pre-Closing Notice")) from Seller , Purchaser's ’s mortgagee(s), ) or Escrow, Purchaser agrees to take and complete any action that may be necessary to enable Closing, and Purchaser will execute at Pre-Pre- Closing all documents required for Closing Closing, including, without limitation, the Unit Deed and all promissory notes, mortgages, mortgages and other loan documents necessary for Purchaser's ’s financing of the Unit, all receipts for notices and disclosures, the conveyance tax certificate, certificate and a closing statement based on Seller's ’s estimate of the date the Unit will be available for occupancy. The Pre-Closing Notice may establish a schedule with differing dates for certain requirements for the Pre-Closing to be met by Purchaser. The Pre-Closing Notice shall establish the date(s) on which all of Purchaser's funds required to close the sale of the Unit shall be due (the "Funding Deadline"), including the balance of the Total Purchase Price payable in cash, Purchaser's mortgage loan proceeds, Closing Costs and Prorations, start-up and maintenance fees, and other amounts payable by Purchaser hereunder. The Funding Deadline may be any date selected by Seller up to and including thirty (30) calendar days prior to the scheduled Closing Date. This Purchase Agreement shall constitute Seller's ’s and Purchaser's ’s written authorization to Escrow to date all documents, to add filing information, information and to adjust the estimated prorations in accordance with the provisions of this Purchase Agreement. Purchaser may be permitted by Seller to execute documents on another island within the State or outside of the State of Hawaii and return the same by registered or certified mail, return-receipt requested. As set forth in Section C above, in the event that Purchaser fails to designate the type of tenancy for the vesting of title at least sixty (60) calendar days prior to the Pre-Closing Date, purchasers who are sole owners will take title as tenants in severalty; multiple purchasers other than married couples will take title as tenants in common; and married couple purchasers will take title as tenants by the entirety. If Purchaser consists of more than one married couple, or a couple and an individual, corporation or partnership, the couple (or each couple if there are more than one) will take title as tenants by the entirety as to each other, and the couple (or each couple if there are more than one) will be a tenant in common with every other couple, individual, corporation or partnership. Whenever a couple, individual, corporation or partnership takes title with another couple, individual, corporation or partnership as tenants in common, each tenant in common will take an equal interest, unless Purchaser specifies otherwise at least sixty (60) calendar days prior to the Pre-Closing Date. In the event that Purchaser requests changes to the Unit Deed and other documents required for Closing later than twenty sixty (2060) calendar days prior to the Pre-Closing Date, Purchaser may be assessed a document revision fee for such changes. If Purchaser is a trust, partnership, corporation, limited liability company or other business entity, Purchaser will be required to furnish appropriate resolutions and other evidence of authority to purchase the Unit and execute documents as Seller or Escrow may reasonably request, including, but not limited to, the documents set forth in the Note to Section B above.

Pre-Closing. Purchaser acknowledges that ▇▇▇▇▇▇ intends to, and agrees that Seller may, prepare for Closing by requiring Purchaser to have all documents necessary for Closing executed and deposited with Escrow at any time prior to the Closing Date ("Pre-Closing"). Purchaser acknowledges that regardless of the status of construction of the Project and in order to accommodate a bulk closing of units by Seller, Seller may require Pre-Closing on a date selected by Seller, within Seller's sole discretion ("Pre-Closing Date"). The Pre-Closing Date may be set up to one hundred eighty (180) calendar days prior to the Closing Date. To accomplish this, any time after the Effective Date of this Purchase Agreement, and upon receiving not less than thirty (30) calendar days' written notice of Pre-Closing from Seller ("Pre-Closing Notice"), Purchaser's mortgagee(s), or Escrow, Purchaser agrees to take and complete any action that may be necessary to enable Closing, and Purchaser will execute at Pre-Closing all documents required for Closing including, without limitation, the Unit Deed and all promissory notes, mortgages, and other loan documents necessary for Purchaser's financing of the Unit, all receipts for notices and disclosures, the conveyance tax certificate, and a closing statement based on Seller's estimate of the date the Unit will be available for occupancy. The Pre-Closing Notice may establish a schedule with differing dates for certain requirements for the Pre-Closing to be met by Purchaser. The Pre-Closing Notice shall establish the date(s) on which all of Purchaser's funds required to close the sale of the Unit shall be due (the "Funding Deadline"), including the balance of the Total Purchase Price payable in cash, Purchaser's mortgage loan proceeds, Closing Costs and Prorations, start-up and maintenance fees, and other amounts payable by Purchaser hereunder. The Funding Deadline may be any date selected by Seller up to and including thirty (30) calendar days prior to the scheduled Closing Date. This Purchase Agreement shall constitute Seller's and Purchaser's written authorization to Escrow to date all documents, to add filing information, and to adjust the estimated prorations in accordance with the provisions of this Purchase Agreement. Purchaser may be permitted by Seller to execute documents on another island or outside of the State of Hawaii and return the same by registered or certified mail, return-receipt requested. In the event that Purchaser requests changes to the Unit Deed and other documents required for Closing later than twenty (20) calendar days prior to the Pre-Closing Date, Purchaser may be assessed a document revision fee for such changes.