Buyer’s Deposit. Within two (2) business days after the Opening of Escrow, the Buyer shall deposit Zero Dollars ($0.00) in Escrow (the “Initial Deposit”). If Buyer delivers the Approval Notice (defined below) in accordance with Section 3.5 below, then upon expiration of Buyer’s Due Diligence Contingency Period, as set forth in Section 5.2 below, Buyer shall deposit an additional Thirteen Thousand Dollars ($13,000) (the “Additional Deposit”). The Initial Deposit and Additional Deposit are sometimes collectively referred to herein as the “Deposit.”
Buyer’s Deposit. BUYER [ ] will deliver upon acceptance of offer [ ] has delivered at time of this offer $ in the form of to (Broker Office) escrow agent, who shall deposit same at (bank). The deposit will be refunded to BUYER if this contract is not accepted or fails to close for any reason not the fault of the BUYER. If BUYER fails to complete his/her contractual obligations, SELLER is allowed to keep the deposit and may also pursue other legal rights he/she has against BUYER. In the event of a dispute between the parties as to the release of the deposit(s) or to whom the deposits(s) are to be paid, the escrow agent is to retain the deposit(s), and it is agreed the deposit(s) shall be held until the parties execute a written agreement to release the funds, or a court determines the rights to the funds, or as otherwise set forth herein. In such event, either party may commence an action to determine the validity of any and all claims to the deposit(s). The parties consent to the jurisdiction of any court in the county in which the premises are located for any such action and waive rights to a jury trial in any such action. In the event neither party commences such action within One Hundred Eighty (180) calendar days from the date the Purchase and Sale Contract is terminated by written notice to either party (written notice to be by the Buyer and/or their attorney or the Seller and/or their attorney), the funds shall be released by the escrow agent to the Buyer, and the escrow agent will have no further obligation to any party with respect to the deposit(s). The escrow agent will not be liable for any amount greater than the actual amount of said deposit to any party in the event that disbursement is not made at the time or is delayed for any reason. Notwithstanding the foregoing, the funds shall be held for so long as an action is pending for the determination of claims to the deposit(s) and the plaintiff in said action has notified the escrow agent in writing of the commencement of said action. The release of the deposit(s) as set forth herein shall not prejudice the rights of either party to pursue any other actions or proceedings.
Buyer’s Deposit. Upon execution of this Agreement by Buyer and Company and the Escrow Agreement by Buyer, Company and Escrow Agent, Buyer shall deposit the sum of $2,000,000.00 with the Escrow Agent ("Buyer's Deposit"), which sum shall be held by the Escrow Agent pursuant to the terms of the Escrow Agreement.
Buyer’s Deposit. Buyer shall make the Deposit in an account specified by the Company (the "Deposit Account") on the first Business Day following the date of the execution of this Agreement. The Company agrees that the Deposit shall remain in the Deposit Account and shall not be used or withdrawn from such account except as provided in Sections 11.1(b) and (c). Simultaneously with the Closing (and following the satisfaction or waiver of the conditions set forth in Article VII and Article VIII), the Company shall transfer the Deposit to the account designated by the Selling Shareholders pursuant to Section 2.3(a)(i).
Buyer’s Deposit. Buyer shall deliver an xxxxxxx money deposit of $12,500,000 (the “Buyer’s Deposit”), unless a different sum is required by order of the Bankruptcy Court, to a third party escrow agent (the “Escrow Agent”) to be agreed upon by Buyer and Seller within three Business Days of the entry of the Bidding Procedures Order. The Buyer’s Deposit shall be held in escrow in an interest bearing account, with accrued interest added to the Buyer’s Deposit, in accordance with the terms of the Bidding Procedures Order.
Buyer’s Deposit. Buyer will be required, within five (5) days of executing and returning the Purchase Agreement and Escrow Instructions, to submit $1.00 of Buyer’s equity investment (“Buyers Deposit”). Upon Opening of Escrow, Buyer’s Deposit shall be placed by Escrow Agent in a non-interest bearing account. However, Buyer’s Deposit may be retained by the Manager (together with interest accrued thereon) as liquidated damages in accordance with Section 6.1. Buyer shall not receive any interest on Buyer’s Deposit unless and until Seller accepts Buyer’s offer and the Opening of Escrow occurs.
Buyer’s Deposit. Within three (3) business days after the Opening of Escrow, the Buyer shall deposit Twenty Thousand Dollars ($20,000) in Escrow (“Deposit”).
Buyer’s Deposit. 3.1 Concurrently with the opening of the Escrow Buyer shall deliver a check into Escrow in the amount of Ten Thousand Dollars ($10,000) (hereinafter the "Deposit"). If Buyer does not remove its title contingencies as set forth in Section 5 below, or its property due diligence conditions as set forth in Section 6 below, within the time limits set forth therein, then Escrow Agent shall return to Buyer the Deposit, together with interest thereon, if any.
Buyer’s Deposit. Within three (3) business days after the Opening of Escrow, the Buyer shall deposit Two-Hundred Thousand Dollars ($200,000) in Escrow ( the “Initial Deposit”). One-Hundred Thousand Dollars ($100,000) of the Initial Deposit is non- refundable in the event that this Agreement is terminated by Buyer through no fault of Seller after the expiration of the Due Diligence Contingency Period; provided, however, that all of Buyer’s Deposit, including all of the $200,000 comprising the Initial Deposit shall remain fully refundable to Buyer in the event there is a failure of a Buyer Conditions Precedent (as defined in Section 5.2 below). If Buyer exercises its right to extend the Closing Date pursuant to Section 5.1, Buyer shall deposit an additional Twenty-Five Thousand Dollars ($25,000) in Escrow for each such extension (each, an “Additional Deposit”). The Additional Deposits are non- refundable in the event that this Agreement is terminated by Buyer through no fault of Seller; provided, however, that all of Buyer’s Deposit, including all of the $200,000 comprising the Initial Deposit shall remain fully refundable to Buyer in the event there is a failure of a Buyer Conditions Precedent. The Initial Deposit and Additional Deposit are collectively referred to herein as the “Deposits.” The Deposits are applicable to the Purchase Price at Closing.
Buyer’s Deposit. Within two (2) days after the Effective Date (as defined below), Buyer shal1 deliver to Xxxxxxxxx & Xxxxx, P.A. Trust Account (the "Escrow Agent"), the sum of One Thousand Dollars ($1,000.00) (the "Deposit") as a deposit to secure the performance by Buyer of its obligations under this Agreement, which Deposit shall be held and disbursed by the Escrow Agent in accordance with the terms and conditions set forth below. Upon receipt of the Deposit, the Escrow Agent shall promptly acknowledge such receipt by written notice to Seller. In addition the Deposit, upon the expiration of the Due Diligence Period as defined below, shall become immediately non-refundable to Buyer for any reason other than the failure of Seller to provide marketable title or the failure of Seller to close this transaction and shall be payable to Seller at Closing or upon Buyer's default, whichever occurs first. If Buyer fails to pay the Deposit to the Escrow Agent within the times specified above, then this Agreement, and all rights and liabilities hereunder, shall automatically terminate.
