Common use of Additional Escrow Deposit Clause in Contracts

Additional Escrow Deposit. The parties hereto agree that Buyer shall deliver the Additional Escrow Deposit to Escrow Holder within two (2) business days following the complete execution and delivery of this First Amendment. Notwithstanding anything to the contrary contained in the Purchase Agreement, the Additional Escrow Deposit shall not be an uncashed check of Buyer but shall be made by bank or cashier's check drawn on a major national money center banking institution (or by other delivery of good funds reasonably acceptable to Seller), the proceeds of which shall be held by Escrow Holder as part of the Escrow Deposit under the Purchase Agreement.