Additional Deposit. Unless Buyer terminates this Agreement in accordance with the terms of Section 4.2, then upon the expiration of the Due Diligence Deadline: (a) the Initial Deposit shall become non-refundable to Buyer except in the event of the Seller's breach or as otherwise expressly provided in this Agreement, and (b) within two (2) Business Days after the expiration of the Due Diligence Deadline, Buyer shall deposit the Additional Deposit with Escrow Holder by wire transfer of immediately available funds and the Additional Deposit shall be non-refundable to Buyer except in the event of Seller's breach or as otherwise expressly provided in this Agreement. The Initial Deposit and, when made, the Additional Deposit, and, if made, the Extension Deposit, are collectively referred to herein as the "Deposit" and shall include all interest which accrues thereon while held by Escrow Holder. Upon the Closing, the Deposit shall be credited to the Purchase Price. Unless Buyer terminates this Agreement in accordance with the terms of Section 4.2, then upon the expiration of the Due Diligence Deadline if Buyer thereafter fails to deliver the Additional Deposit into the Escrow Account strictly as and when contemplated herein or if Buyer fails to deliver the “Additional Deposit” into Escrow as defined in and set forth in the Parallel Agreement, such failure shall constitute a material breach of this Agreement by Buyer and Seller shall have the right, by delivering written notice to Escrow Holder and Buyer within five (5) days after such failure, to terminate this Agreement and receive and retain the Initial Deposit as liquidated damages pursuant to Section 5.1 below, and thereafter neither party shall have any further rights or obligations hereunder except for the Surviving Obligations.
Additional Deposit. Provided that Buyer has not delivered a Termination Notice and has delivered the Buyer’s Notice to Proceed prior to the expiration of the Property Approval Period, Buyer shall deliver to Escrow Holder the Additional Deposit on or before expiration of such Property Approval Period (the Additional Deposit, together with the Initial Deposit and any “Extension Deposit” (as set forth in Section 3.2.1, below), shall be hereafter referred to as the “Deposit”). Upon receipt by Escrow Holder, the Additional Deposit shall become non-refundable except as otherwise provided in this Agreement. The Additional Deposit (and Extension Deposit, if applicable) together with interest accrued thereon shall be (i) applied and credited toward payment of the Purchase Price at the Close of Escrow, or (ii) retained by Seller as liquidated damages pursuant to Section 16.2, below, or (iii) returned to Buyer if (A) this Agreement is terminated and the provisions of Sections 4.4 or 13 apply, (B) this Agreement is terminated because of a breach by Seller, or (C) any other provision of this Agreement expressly provides that Buyer is entitled to a return of the Deposit.
Additional Deposit. The amount of the Additional Deposit set forth in Section 2.2.2 of the Contract shall hereby be deleted and replaced with $341,244.23.
Additional Deposit. On the Contingency Expiration Date, if Purchaser has notified Seller that it intends to proceed with this Agreement as provided herein, Purchaser shall deposit the Additional Deposit in Escrow and the Initial Deposit and Additional Deposit shall be non-refundable (except as a result of (a) a default by Seller; (b) failure of a condition in favor of Purchaser pursuant to Section 8(b); or (c) any other termination of this Agreement as a result of an event or condition that does not constitute Purchaser’s default under this Agreement) and shall be immediately released to Seller without the need for any further instructions to Escrow Holder. The term “Deposit” shall refer to the Initial Deposit and the Additional Deposit and all interest earned thereon. If the transaction contemplated by this Agreement is consummated, the Deposit shall be credited on Purchaser’s account against the Purchase Price.
Additional Deposit. Lessor currently holds the sum of Forty-Five Thousand Four Hundred Thirty-Two and 92/100 Dollars ($45,432.92) as a non-interest bearing cash security deposit under the Lease. Upon the Addition Date under the said Addendum No. 4 to Office Lease and Lessee's payment of the additional deposit due thereunder, Lessor will hold the sum of Forty-Eight Thousand Five Hundred Ninety Four 92/100ths Dollars ($48,594.92) as a non-interest bearing cash security deposit under the Lease. Upon the Addition Date under this Addendum and as a condition to delivery of possession of the Additional Space, Lessee shall deposit with Lessor the additional sum of Fourteen Thousand Five Hundred Twenty-Six and 50/100 Dollars ($14,526.50). The resulting sum in the amount of Sixty-Three Thousand One Hundred Twenty-One and 42/100 Dollars ($63,121.42) shall continue to be held by Lessor as a non-interest bearing cash security deposit under the Lease, as amended hereby, pursuant to and in accordance with the provisions of Section 6 of the Lease. If Lessor elects to apply all or any portion of the increased cash deposit to cure Lessee's default, Lessee shall be obligated to promptly deposit with Lessor cash in an amount sufficient to restore the cash security deposit to Sixty-Three Thousand One Hundred Twenty-One and 42/100 Dollars ($63,121.42). -3-