AMOUNT AND DEPOSIT Clause Samples

AMOUNT AND DEPOSIT. (a) As full and complete payment for the Purchased Assets, Buyer shall pay Seller the aggregate sum of Four Million and No/100 Dollars ($4,000,000.00) (the "Purchase Price"). (b) Buyer shall deposit with Seller an amount equal to the Purchase Price (the "Deposit") payable in cash, certified check, wire transfer or other "good funds" verifiable to Seller as follows: (i) on or before May 25, 2001, Buyer shall deposit with Seller the amount of Two Million Two Hundred Thousand and No/100 Dollars ($2,200,000.00), and (ii) on or before June 6, 2001, Buyer shall deposit with Seller the amount of One Million Eight Hundred Thousand and No/100 Dollars ($1,800,000.00). Seller shall not be obligated to segregate all or any portion of the Deposit or hold all or any portion of the Deposit in trust. Seller shall have the right to commingle all or any portion of the Deposit with Seller's other funds and to utilize all or any portion of the Deposit for Seller's operational needs or other business purposes.