Buyer Deposit. (a) If this Agreement is terminated pursuant to Sections 4.4(c)(i), (iv), (v) (solely with respect to any Seller, the First Lien Agent and/or any First Lien Lender seeking to have the Bankruptcy Court enter an Order dismissing, or converting into cases under Chapter 7 of the Bankruptcy Code, any of the Bankruptcy Cases or appoint a trustee in any Bankruptcy Case or appoint a responsible officer or an examiner with enlarged powers to operate the Business or dispose of assets relating to the operation of Sellers’ businesses (beyond those set forth in Section 1106(a)(3) or (4) of the Bankruptcy Code) under Bankruptcy Code Section 1106(b)) or (vi) or Section 4.4(d)(v), Sellers shall promptly return to Buyer the Buyer Deposit and execute all documentation reasonably required by the Buyer in connection therewith. Sellers shall also promptly return to Buyer the Buyer Deposit, and execute all documentation reasonably required by the Buyer in connection therewith, if this Agreement is terminated other than pursuant to Sections 4.4(d)(ii) or (iv).
Buyer Deposit. Buyer shall deposit into a segregated account One Million, Five Hundred Thousand Dollars ($1,500,000) in cash (the “Buyer Deposit”) within three (3) Business Days after the date hereof. If the Closing occurs, the Buyer Deposit shall be applied to the Cash Payment portion of the Purchase Price and the balance (if any) shall be returned to Buyer. The rights of Buyer with respect to the return of the Buyer Deposit shall be governed by Section 3.1(b) and Section 4.5(a). Sellers’ right to retain the Deposit shall be governed by Section 4.5(b).
Buyer Deposit. Prior to or within 10 business days after execution of this Agreement and subject to the terms of the "Earnxxx Xxxey Escrow Agreement," attached hereto as Exhibit A, Buyer will deliver to Commerce Bank, N.A. (the "Escrow Agent") the sum of Nine Hundred Thousand Dollars ($900,000) which, together with all interest earned thereon, shall be referred to herein as the "Buyer Deposit". The Buyer Deposit shall be held by the Escrow Agent pursuant to the Earnxxx Xxxey Escrow Agreement. Following the Closing, the Buyer Deposit shall be returned to the Buyer. In the event the transaction does not close for reasons not related to fault of the Buyer, the Buyer Deposit shall be returned to the Buyer.
Buyer Deposit. Within five business days after execution of this Agreement and subject to the terms of the "Xxxxxxx Money Escrow Agreement", attached hereto as EXHIBIT A, Buyer will deliver to Commerce Bank, N.A. (the "Escrow Agent") the amount of Six Hundred Thousand Dollars ($600,000) and together with all interest earned thereon, shall be referred to herein as the "Buyer Deposit". The Buyer Deposit shall be held by the Escrow Agent pursuant to the Xxxxxxx Money Escrow Agreement, and subject to the following:
Buyer Deposit. Within one business day of the execution of this Agreement, the Buyer will deposit $1,000,000 (the "BUYER DEPOSIT") into an escrow account established with a third party escrow agent pursuant to the Buyer Deposit Escrow Agreement in the form of Exhibit J attached hereto. In the event that the Closing takes place, the Buyer Deposit shall be applied against the Purchase Price and the amount of the Purchase Price required to be delivered pursuant to Section 1.6.2(a) hereunder shall be so reduced by the amount of the Buyer Deposit. In the event that the Buyer fails to consummate the Transactions contemplated by this Agreement and this Agreement is terminated by the Selling Lenders pursuant to Section 10.1(g) hereunder, the Buyer Deposit shall be paid to each of the Selling Lenders in the same allocations set forth on Exhibit B to this Agreement, subject to an adjustment of such allocation to compensate Wells Fargo Foothill, Inc. axx Xxrberus for certain expenses they have incurred on behalf of the Selling Lenders. In the event that this Agreement is terminated for any other reason, the Buyer Deposit shall be refunded to the Buyer.
Buyer Deposit. Buyer agrees to submit a deposit to the Trust Account of the escrow/closing services designated by the Buyer within 24 hours of the Effective Date of this agreement in the amount of $ , unless Agreement is executed by both parties within this time frame, of which full funds would be required (refer to 2.2). This deposit consists of 10% of the purchase price. The deposit shall made payable to the Trust Account of the escrow/closing service used in the execution of this Agreement. Deposits are refunded if the sale is not closed due to no fault of the Buyer. Deposit is forfeited if the sale is not closed due to non performance by the Buyer, and forfeited deposit shall be distributed as outlined in the Terms of Use for Trading on the FCI Exchange Website.
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Buyer Deposit. In the event of a termination of this Agreement pursuant to any provision of Section 6.1, other than Section 6.1(g)(i), Buyer shall be entitled to disbursement of the Buyer Deposit (including, for the avoidance of doubt, all interest and other earnings accrued and earned thereon) from the Escrow Account. In the event of a termination of this Agreement pursuant to Section 6.1(g)(i), Seller shall be entitled to disbursement of the Buyer Deposit (including, for the avoidance of doubt, all interest and other earnings accrued and earned thereon) from the Escrow Account. In the event that this Agreement is terminated, then Sellers and Buyer will deliver to the Escrow Holder, promptly following the effective date of any such termination, joint written instructions to pay Sellers or Buyer, as applicable, the Buyer Deposit from the Escrow Account, subject to the terms of the Escrow Agreement.
Buyer Deposit. 37 Section 8.1 Access to Information 37 Section 8.2 Further Assurances 37 Section 8.3 Confidentiality 38 Section 8.4 Preservation of Records 38 Section 8.5 Publicity 39 Section 8.6 Operation of Business 39 Section 8.7 Section 363(b)(1)(A) 41 Section 8.8 Adequate Assurances Regarding Purchased Contracts and Certain Real Property Leases 41 Section 8.9 Notification of Certain Matters 42 Section 8.10 Prospective Employees 42 Section 8.11 Name Change 43 Section 8.12 Liquor License Approvals 43 Section 8.13 Certain Financing Matters 43 Section 8.14 Real Estate Consultant 43 Section 8.15 Advisor 44 Section 8.16 WARN Act Notices 44 Section 9.1 Conditions Precedent to Obligations of Buyer 44 Section 9.2 Conditions Precedent to Obligations of Sellers 45
Buyer Deposit. Prior to or within five (5) Business Days after execution of this Agreement and subject to the terms of the "Xxxxxxx Money Escrow Agreement" attached hereto as Exhibit A, Buyer will deliver to Commerce Bank, N.A. (the "Escrow Agent") the sum of Forty Three Thousand Dollars ($43,000), which amount, together with all interest earned thereon, shall be referred to herein as the "Buyer Deposit". The Buyer Deposit shall be held by the Escrow Agent pursuant to the Xxxxxxx Money Escrow Agreement. If the purchase of the Assets under this Agreement is not consummated on or prior to the Closing Deadline as a result of a breach by Buyer of any of its obligations under this Agreement, Seller shall be entitled to the Buyer Deposit. The payment of the Buyer Deposit by the Escrow Agent to Seller, and Seller's receipt thereof, shall be in addition to any other remedies accruing to Seller as a result of breach by Buyer of any of its obligations under this Agreement. Seller specifically acknowledges that it will not be entitled to any of the Buyer Deposit in the event the purchase of the Assets under this Agreement is not consummated due to the refusal by DIRECTV, Inc., successor-in-interest to Xxxxxx Communications Galaxy, Inc., (herein, "DIRECTV(R)") to approve the transfer of the Master System Operator Agreement to Buyer.
