Common use of Xxxxxxx Money Deposit Clause in Contracts

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 25 contracts

Samples: Management Agreement (Apple REIT Ten, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

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Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 19 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Ten, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after Upon the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Thousand Five Hundred Thousand and No/100 Dollars ($300,000.002,500.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 10 contracts

Samples: Purchase Contract (Apple REIT Ten, Inc.), Purchase Contract (Apple REIT Ten, Inc.), Purchase Contract (Apple REIT Ten, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional DepositDeposit (if any), and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 8 contracts

Samples: Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after Upon the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Thousand and No/100 Dollars ($300,000.00200,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Initial Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 8 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Thousand and No/100 Dollars ($300,000.00200,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 8 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Thousand and No/100 Dollars ($300,000.00200,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall be non-refundable except as otherwise provided herein and shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 7 contracts

Samples: Purchase Contract (Apple REIT Eight, Inc.), Escrow Agreement (Apple REIT Eight, Inc.), Escrow Agreement (Apple REIT Eight, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow AgentAgent and the Initial Deposit and Additional Deposit shall then be non-refundable to Buyer except as otherwise provided herein. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 7 contracts

Samples: Purchase Contract (Apple REIT Ten, Inc.), Purchase Contract (Apple REIT Ten, Inc.), Purchase Contract (Apple REIT Ten, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Twenty-five Thousand and No/100 Dollars ($300,000.00125,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 7 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Fifty Thousand and No/100 Dollars ($300,000.00250,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 5 contracts

Samples: Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Eight, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Six Hundred Thousand and No/100 Dollars ($300,000.00600,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”the

Appears in 4 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Five Thousand and No/100 Dollars ($300,000.005,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 3 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Fifty Thousand and No/100 Dollars ($300,000.00150,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 3 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Fifty Thousand and No/100 Dollars ($300,000.0050,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 2 contracts

Samples: Purchase Contract (Apple REIT Ten, Inc.), Purchase Contract (Apple REIT Ten, Inc.)

Xxxxxxx Money Deposit. (a) Within three two (32) Business Days after following the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (together with all interest earned thereon, the “Initial Xxxxxxx Money Deposit”) with the Title Company, as escrow agent Company (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 2 contracts

Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three two (32) Business Days after following the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (together with all interest earned thereon, the “Initial Xxxxxxx Money Deposit”) with the Title Company, as escrow agent Company (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, . Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 2 contracts

Samples: Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shallshall subject to Section 16.16 below, prior within three (3) Business Days after the later to occur of (a) the expiration of the Review PeriodPeriod or (b) the date Seller closes the Construction Loan (defined below), deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Ten, Inc.)

Xxxxxxx Money Deposit. (a) Within three two (32) Business Days after following the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (together with all interest earned thereon, the “Initial Xxxxxxx Money Deposit”) with the Title Company, as escrow agent Company (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, . Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, . Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three one (31) Business Days Day after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Fifty Thousand and No/100 Dollars ($300,000.00250,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within Not later than three (3) Business Days after the full date of execution and delivery of this Contract, Buyer shall deposit the sum of Three Five Hundred Thousand and No/100 Dollars ($300,000.00500,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after Immediately upon the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Fifty Thousand and And No/100 Dollars ($300,000.00250,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Initial Deposit to Buyer promptly upon written notice to that effect from BuyerBuyer to both Escrow Agent and Seller. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit (the Additional Deposit Deposit”) with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Escrow Agreement (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand One Million and No/100 Dollars ($300,000.001,000,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit” and shall be allocated to the Sellers as provided on Exhibit A hereof.

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Eight, Inc.)

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Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Fifty Thousand and No/100 Dollars ($300,000.00250,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, . Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, . and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand One Million and No/100 Dollars ($300,000.001,000,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple Reit Six Inc)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, . Buyer shall deposit the sum of Three One Hundred Fifty Thousand and No/100 Dollars ($300,000.00150.000.00) in cash, . certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Escrow Agreement (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Fifty Thousand and No/100 Dollars ($300,000.00150,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit Initial Deposit, and all interest accrued thereon, to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, deposit the sum of One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Additional Deposit Deposit”) with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Escrow Agreement (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Seventy Five Thousand and No/100 Dollars ($300,000.0075,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Thousand and No/100 Dollars ($300,000.00200,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Eight, Inc.)

Xxxxxxx Money Deposit. (a) Within three two (32) Business Days after following the full execution and delivery of this Contract, . Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (together with all interest earned thereon, the “Initial Xxxxxxx Money Deposit”) with the Title Company, as escrow agent Company (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, . Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three one (31) Business Days Day after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Fifty Thousand and No/100 Dollars ($300,000.00250,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within one (1) Business Day after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Two Hundred Thousand and No/100 Dollars ($300,000.00200,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit” and shall be allocated to the Seller as provided on Exhibit A hereof.

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Six Hundred Thousand and No/100 Dollars ($300,000.00600,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Seven, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand Two Million and No/100 Dollars ($300,000.002,000,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Eight, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Thousand and No/100 Dollars ($300,000.00100,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Nine, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after Upon the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Fifty Thousand and No/100 Dollars ($300,000.00150,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Initial Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Ten, Inc.)

Xxxxxxx Money Deposit. (a) Within three (3) Business Days after Upon the full execution and delivery of this Contract, Buyer shall deposit the sum of Three One Hundred Fifty Thousand and No/100 Dollars ($300,000.00150,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to within three (3) Business Days after the expiration of the Review Period, Period deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

Appears in 1 contract

Samples: Purchase Contract (Apple REIT Nine, Inc.)

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