Common use of Additional Deposit Clause in Contracts

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. Unless Upon the expiration of the Contingency Period, provided Buyer terminates has not earlier terminated this Agreement in accordance with the terms any of Section 4.2, then upon the expiration of the Due Diligence Deadline: (a) the Initial Deposit shall become non-refundable its rights 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 Deadlinedo so contained herein, Buyer shall deposit the Additional Deposit or cause to be deposited with Escrow Holder by wire transfer in Immediately Available Funds, the additional sum of immediately available funds Fifty Thousand and 00/100 Dollars ($50,000.00) (the "Additional Deposit"). Upon Escrow Holder's receipt of the Additional Deposit Deposit, Escrow Holder shall be non-refundable to Buyer except immediately invest it in the event of Seller's breach or as otherwise expressly provided interest bearing account described in this AgreementParagraph 3(a) above. The Initial Deposit and, when made, and the Additional Deposit, andor so much thereof as shall have then been deposited into Escrow, if madetogether with all interest accrued thereon, the Extension Deposit, are shall collectively hereinafter be referred to herein as the "Deposit." The Deposit shall be nonrefundable to Buyer in the event this Agreement and shall include the Escrow is thereafter cancelled by reason of a default by Buyer or a breach by Buyer of any covenant, representation or warranty contained herein, as provided in and subject to the provisions of Paragraph 16(a) hereof. The Deposit and all interest which accrues shall accrue thereon while held by Escrow Holder. Upon the Closing, the Deposit shall be credited applied to the payment of the Purchase Price. Unless Buyer terminates this Agreement in accordance with the terms of Section 4.2, then Price upon the expiration Close of the Due Diligence Deadline if Escrow, or refunded to 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 event this Agreement and receive and retain the Initial Deposit as liquidated damages Escrow is cancelled for any reason other than a default by Buyer or a breach by Buyer of any covenant, representation or warranty hereunder, in which case the Deposit, together with any interest accrued thereon, shall be delivered to Seller pursuant to Section 5.1 Paragraph 16(a) below, and thereafter neither party shall have any further rights or obligations hereunder except for the Surviving Obligations.

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 ’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 ’s breach or as otherwise expressly provided in this Agreement. The Initial Deposit and, if and when made, the Additional Deposit, and, if made, Deposit and the Extension Deposit, are collectively together 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 Agreementherein, 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 11476794.5 7 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. Unless Buyer terminates By no later than Friday, February 13, 2015, at 5:00 p.m., provided Purchaser has not earlier terminated this Agreement in accordance with the terms any of Section 4.2, then upon the expiration of the Due Diligence Deadline: (a) the Initial Deposit shall become non-refundable its rights to Buyer except in the event of the Seller's breach or as otherwise expressly provided in do so under this Agreement, and (b) within two (2) Business Days after the expiration of the Due Diligence Deadline, Buyer Purchaser shall deposit the Additional Deposit with deliver to Escrow Holder Agent by bank wire transfer of immediately available funds the sum of Five Hundred Thousand Dollars ($500,000) (the “Additional Deposit”). Promptly after Purchaser delivers such Additional Deposit to Escrow Agent, Escrow Agent shall release the entire Deposit (as defined below) to Seller pursuant to wire instructions delivered by Seller to Escrow Agent. If Purchaser fails to timely make the Additional Deposit, this Agreement shall automatically terminate, the Deposit shall be returned to Purchaser, and Seller and Purchaser shall have no further rights or obligations under this Agreement, except for provisions which expressly survive the termination of this Agreement. The Initial Deposit and the Additional Deposit, or so much thereof as shall have then been deposited with Escrow Agent shall hereinafter be collectively referred to as the “Deposit.” From and after expiration of the Investigation Period and Purchaser’s failure to terminate this Agreement pursuant to Section 5.3, the Deposit shall be non-refundable to Buyer Purchaser, 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 a failure 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 condition set forth in the Parallel Agreement, such failure shall constitute Section 3.1 or a material breach termination 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 below10.2, and thereafter neither party shall have any further rights ARTICLE XII, Section 11.1 or obligations hereunder except for the Surviving ObligationsSection 11.1.10.

Additional Deposit. Unless Provided that 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 has not earlier terminated this Agreement, and within one (b1) within two (2) Business Days business day after the expiration of the Due Diligence Deadline, Conditions Period Buyer shall place on deposit into the Escrow Account, the amount of Two Hundred Fifty Thousand Dollars ($250,000.00) as an additional deposit (the "Additional Deposit"). The Escrow Holder shall cause the Additional Deposit to be placed into an interest bearing bank account acceptable to Seller. Any interest earned on the Additional Deposit shall be included as part of the Additional Deposit. The Additional Deposit shall be retained in the Escrow Account until the Closing (defined below). Subject to the satisfaction of all of the Closing Conditions (defined below) in accordance with Escrow Holder by wire transfer the provisions of immediately available funds and this Agreement, the Additional Deposit shall be non-refundable to Buyer. If 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 Agreementherein, such failure shall constitute a material breach of this Agreement by Buyer and Seller shall have the right, right to terminate this Agreement by delivering written notice thereof 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, at any time and thereafter neither party shall have any further rights or obligations hereunder except for the Surviving Obligationsindemnities contained in Sections 4.4 and 15 below and Buyer's obligations under Section 4.3 below to deliver to Seller the Due Diligence Materials (defined below). The Initial Deposit and Additional Deposit are collectively referred to herein as "Deposits".

Additional Deposit. Unless As a material condition precedent to the continued effectiveness of this Agreement, if Buyer terminates has not elected to cancel and terminate this Agreement in accordance with the terms of pursuant to Section 4.23.3 below, then upon no later than the expiration of the Due Diligence Deadline: Contingency Period, as defined herein, Buyer will deposit with the Escrow Agent an additional Two Hundred Fifty Thousand Dollars (a$250,000.00) (the “Additional Deposit”), which will be held by the Escrow Agent in an interest bearing account, pursuant to Section 10.17 herein. If Buyer fails to pay the Additional Deposit to the Escrow Agent within the time period required above, then, without further notice or demand by Seller, this Agreement will automatically lapse and terminate by reason of the failure of a condition precedent, the Initial Deposit shall become non-refundable will be paid by the Escrow Agent to Buyer, and Buyer and Seller will be released and relieved from all obligations and liabilities hereunder, except in that the event Buyer will return all of the Property Information to Seller's breach , and Buyer and Seller will continue to be liable for those obligations that expressly survive the cancellation or as otherwise expressly provided in termination of this Agreement. The Initial Deposit and the Additional Deposit are referred to herein collectively from time to time as the “Xxxxxxx Money.” If the Closing as contemplated hereunder should occur, then the Xxxxxxx Money will be paid by the Escrow Agent to Seller at the Closing, and (b) within two (2) Business Days the Xxxxxxx Money will be credited against the Purchase Price payable by Buyer to Seller at the Closing. From and after the expiration of the Due Diligence DeadlineContingency Period (as defined herein), Buyer shall deposit all of the Additional Deposit with Escrow Holder by wire transfer of immediately available funds and the Additional Deposit shall Xxxxxxx Money will be non-refundable to Buyer except in all respects; notwithstanding the event foregoing, all of Seller's breach or as otherwise expressly provided in this Agreement. The Initial Deposit and, when made, the Additional Deposit, and, Xxxxxxx Money will be refundable to Buyer 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 is canceled and terminated by Buyer by reason of Section 4.29.7 (“Buyer’s Closing Conditions”), 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 under Section 10.1 (“Additional Deposit” into Escrow as defined in and set forth in the Parallel AgreementRemedies”), such failure shall constitute a material breach of this Agreement by Buyer and Seller shall have the rightSection 3.3 (“Approval; Non-Satisfaction), by delivering written notice to Escrow Holder and Buyer within five Section 5.3 (5) days after such failure“Title Objections”), to terminate this Agreement and receive and retain the Initial Deposit as liquidated damages pursuant to Section 5.1 below6.1 (“Casualty”), and thereafter neither party shall have any further rights or obligations hereunder except for the Surviving ObligationsSection 6.2 (“Condemnation”).

Additional Deposit. Unless Buyer terminates If Purchaser elects not to terminate this Agreement in accordance with under Section 5.5, Purchaser shall, on or before the terms of Section 4.2, then upon the expiration end of the Due Diligence Deadline: Feasibility Period, deposit ONE MILLION AND NO/100 DOLLARS (a$1,000,000.00) (the Initial Deposit “Additional Deposit”) with Escrow Agent in immediately available federal funds. If Purchaser shall become non-refundable fail 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 within the time period provided for above, Seller may at any time prior to the deposit 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, andterminate this Agreement, if made, the Extension Deposit, are collectively referred to herein as the "Deposit" and shall include all interest in which accrues thereon while held by Escrow Holder. Upon the Closing, the Deposit case this Agreement shall be credited to the Purchase Price. Unless Buyer terminates this Agreement null and void ab initio and in accordance with the terms of Section 4.2, then upon the expiration of the Due Diligence Deadline if Buyer thereafter fails to such event Escrow Agent shall immediately 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 belowSeller and thereafter, and thereafter neither party shall have any further rights or obligations hereunder to the other hereunder, except as otherwise set forth in this Agreement. As used herein, the term “Deposit” means the Initial Deposit and the Additional Deposit, together with all interest accrued thereon. The Initial Deposit (and to the extent paid by Purchaser upon satisfaction of matters related to the Feasibility Period and title and Survey contingencies, the Additional Deposit) shall automatically become nonrefundable upon the expiration of the Feasibility Period (as defined in Section 5.1 below), unless Purchaser terminates (or is deemed to have terminated) this Agreement in accordance with the express provisions of this Agreement and Purchaser is entitled to the immediate return of the Initial Deposit (and to the extent paid by Purchaser upon satisfaction of matters related to the Feasibility Period and title and Survey contingencies, the Additional Deposit) in accordance with the express provisions of Section 5.5 of this Agreement. Upon such delivery of the Deposit to Purchaser, this Agreement shall terminate and neither Seller nor Purchaser shall have any further rights or obligations hereunder, except for the Surviving ObligationsTermination Obligations (as defined in Section 16.12 herein), which shall survive such termination.

Additional Deposit. Unless Buyer terminates notifies Seller prior to 5:00 ------------------ p.m. (Pacific Time) on the Approval Date that there are Pre-Closing Conditions (defined below) remaining unsatisfied and that Buyer will not waive such conditions (any such notice shall serve as a termination of this Agreement in accordance with Agreement), (i) at the terms of Section 4.2, then upon the expiration end of the Due Diligence Deadline: (a) Conditions Period the Initial Deposit shall become non-non- refundable to Buyer except in the event of the Seller's breach or as otherwise expressly provided in this AgreementBuyer, and (bii) within two one (21) Business Days business day after the expiration of the Due Diligence Deadline, Approval Date Buyer shall place on deposit into the Escrow Account, the amount of Five Hundred Thousand Dollars ($500,000) as the additional deposit (the "Additional Deposit"). The Escrow Holder shall cause the Additional Deposit with to be placed into an interest bearing bank account acceptable to Buyer and Seller. Any interest earned on the Additional Deposit shall be included as part of the Additional Deposit. The Additional Deposit shall be retained in the Escrow Holder by wire transfer of immediately available funds Account until the Closing (defined below), and the Additional Deposit shall be non-refundable to Buyer except in Buyer; provided, however, the event of Seller's breach or as otherwise expressly provided in this Agreement. The Initial Deposit and, when made, and the -------- ------- Additional Deposit, and, if made, the Extension Deposit, are collectively referred to herein as the "Deposit" and shall include all Deposit (including any interest which accrues thereon while held by Escrow Holder. Upon the Closing, the Deposit earned thereon) shall be credited refundable to Buyer if all of the Purchase Price. Unless Buyer's Closing Conditions (defined below) are not satisfied or otherwise waived by Buyer terminates this Agreement in accordance with the terms provisions of Section 4.24.3 of this Agreement, then upon or, at Buyer's election, if Seller fails to complete the expiration sale of the Due Diligence Deadline if Property by reason of any default of Seller pursuant to Section 5.2. 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 Agreementherein, such failure shall constitute a material breach of this Agreement by Buyer and Seller shall have the right, right to terminate this Agreement by delivering written notice thereof 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, at any time and thereafter neither party shall have any further rights or obligations hereunder except for the Buyer's Surviving Obligations. The Initial Deposit and the Additional Deposit shall be applied to the Purchase Price at the Closing. The Initial Deposit and the Additional Deposit, together with any interest thereon, are collectively referred to herein as the "Deposits."

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 ’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 ’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 Agreementherein, 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.