Buyer’s Xxxxxxx Money Deposit Sample Clauses

Buyer’s Xxxxxxx Money Deposit. On or prior to the date which is three (3) business days after the Effective Date, Buyer shall deliver the sum of THREE HUNDRED FORTY-TWO THOUSAND FIVE HUNDRED DOLLARS AND NO CENTS ($342,500.00) in immediately available funds (the "Initial Xxxxxxx Money Deposit") to Fidelity National Title Insurance Company, with an address of 000 Xxxxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx, XX 00000, Attn: Xxx Xxxxxxx ("Escrow Agent" or "Title Insurer"). On or prior to the Approval Date (as defined in Section 2.5.3 hereof), Buyer shall have the right to terminate this Agreement in accordance with Section 2.5.3, in which case the Initial Xxxxxxx Money Deposit (except for the Independent Consideration) shall be returned to Buyer and the parties shall have no further obligations hereunder except as otherwise provided herein. In the event that Buyer does not terminate this Agreement pursuant to the terms of Section 2.5.3, on or prior to the Approval Date Buyer shall deliver the additional sum of SIX HUNDRED EIGHTY-FIVE THOUSAND DOLLARS AND NO CENTS ($685,000.00) in immediately available funds (the "Additional Xxxxxxx Money Deposit") to Escrow Agent and the transaction contemplated by this Agreement shall proceed in accordance with the terms hereof. In the event Buyer elects to exercise its extension option pursuant to Section 2.4.1 hereof, Buyer shall deposit the Extension Deposit (as defined in Section 2.4.1 hereof) in accordance with the provisions of Section 2.4.1 hereof. The Initial Xxxxxxx Money Deposit, the Additional Xxxxxxx Money Deposit, and the Extension Deposit (if delivered), together with all interest accrued thereon, less the Independent Consideration (as defined in Section 1.3 hereof), shall be referenced herein as the "Xxxxxxx Money Deposit". The Xxxxxxx Money Deposit shall be held in accordance with the terms of this Agreement and shall be applied as a credit to the Purchase Price (as defined in Section 2.2 hereof) due to Seller at the Closing. In the event Buyer fails to timely deposit any portion of the Xxxxxxx Money Deposit as provided above, Seller may, as its sole remedy, terminate this Agreement upon written notice to Buyer at any time prior to payment in full of the respective portion of the Xxxxxxx Money Deposit. Escrow Agent shall deposit the Xxxxxxx Money Deposit in an interest-bearing account at a bank or other FDIC insured financial institution reasonably acceptable to Buyer and Seller and all interest earned and/or accrued thereon shall be deemed part...

AutoNDA by SimpleDocs

Buyer’s Xxxxxxx Money Deposit. On or prior to the date which is two (2) business days after the Effective Date, Buyer shall deliver the sum of FIVE HUNDRED THOUSAND F:\71018.005\Purchase Agreement\Purchase Agreement – Xxxxxx Village v8.doc DOLLARS ($500,000.00) in immediately available funds (the "Initial Xxxxxxx Money Deposit") to Madison Title Agency, LLC, National Title Services, 0000 Xxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxxxx 00000, Attention: Xxxxxx Xxxxxxx ("Escrow Agent" or "Title Insurer"). Upon delivery of the Initial Xxxxxxx Money, TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00) (the “Non-Refundable Portion”) of the Initial Xxxxxxx Money Deposit shall be deemed non-refundable except in connection with (a) a default by Seller under this Agreement, (b) the termination of this Agreement in connection with a casualty or condemnation pursuant to Section 2.7 of this Agreement, (c) the election of Buyer to terminate this Agreement pursuant to Section 2.6.3 as evidenced by written notice to Seller delivered with respect to any Objectionable Title Matter or Mandatory Cure Item; provided, however, that with respect to any such termination that permits Buyer to obtain a refund of the Non-Refundable Portion, any such Objectionable Title Matter must involve either (1) a matter that will, in Buyer’s reasonable discretion, have a material effect on the Buyer’s ownership, use, financing or operation of the Property or the value of the Property or (2) a matter that has been objected to by Buyer’s lender, (d) the termination of this Agreement as a result of a failed condition set forth in Article 4 of this Agreement and (e) the termination of this Agreement as evidenced by written notice to Seller delivered as a result of any environmental condition affecting the Property which, in Buyer’s or Buyer’s acquisition lender’s sole discretion, affects the Buyer’s ownership, use, financing or operation of the Property (each, a “Full Refund Event”). On or prior to the Approval Date (as hereinafter defined in Section 2.5.3), Buyer shall have the right to terminate this Agreement in accordance with Section 2.5.3, in which case the Xxxxxxx Money Deposit shall be returned to Buyer (subject to deduction of the Non-Refundable Portion which shall be paid to the Seller unless Buyer’s election to terminate arises out of one or more of the Full Refund Events) and the parties shall have no further obligations hereunder except as otherwise provided herein. In the event that Buyer does not terminate this Agreement pursuan...

Buyer’s Xxxxxxx Money Deposit. On or prior to the date which is three (3) business days after the Effective Date, Buyer shall deliver the sum of THREE HUNDRED THOUSAND FIVE HUNDRED DOLLARS AND NO CENTS ($300,500.00) in immediately available funds (the "Initial Xxxxxxx Money Deposit") to Fidelity National Title Insurance Company, with an address of 000 Xxxxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx, XX 00000, Attn: Xxx Xxxxxxx ("Escrow Agent" or "Title Insurer"). On or prior to the Approval Date (as defined in Section 2.5.3 hereof), Buyer shall have the right to terminate this Agreement in accordance with Section 2.5.3, in which case the Initial Xxxxxxx Money Deposit (except for the Independent Consideration) shall be returned to Buyer and the parties shall have no further obligations hereunder except as otherwise provided herein. In the event that Buyer does not terminate this Agreement pursuant to the terms of

Buyer’s Xxxxxxx Money Deposit. Unless otherwise agreed to by Seller, prospective purchasers are required to advance Xxxxxxx Money equal to five percent (5%) of the purchase price or $2,500, whichever is greater. Upon execution of the purchase and sale agreement by all parties, funds deposited by any prospective purchasers as “xxxxxxx money” or “binder deposit” will be held by Seller’s title company in escrow and shall be disbursed only upon instruction of Seller, Colliers, or as required by law. Funds held in escrow by Seller’s title company in excess of Ten Thousand Dollars ($10,000.00) will be transferred to Seller upon execution of the purchase and sale agreement. In the event of a default by the prospective purchaser, the amount of the Xxxxxxx Money shall be forfeited and retained by Seller. If, through no fault of the prospective purchaser, the Sale cannot be completed, Seller shall refund the entire amount of the xxxxxxx money deposit to the prospective purchaser following the receipt by Seller of a properly completed Form W- 9.

Related to Buyer’s Xxxxxxx Money Deposit

Xxxxxxx Money Deposit (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”
Escrow Deposit Concurrently with the execution and delivery of this Agreement, the Holder will deliver [the sum of ____________________ Dollars ($_____________) in lawful money of the United States of America by wire transfer of immediately available funds] [and] [[ ] Class A Trust Certificates] [and] [[ ] Class B Trust Certificates] in accordance with Section 14 of the Series Supplement] (the "Escrow Deposit"), to Escrow Agent to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit. Any cash amounts in the Escrow Deposit may be increased or decreased in accordance with the terms of Section 2.02(i)(vi) of the Warrant Agreement and the terms of this agreement will apply with equal force and effect to any such increased or decreased cash amounts in the Escrow Deposit.
Exxxxxx Money (i) Within five (5) business days after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of this Agreement.
Purchase Price; Deposit (a) The purchase price for the Property is AND 00/100 DOLLARS ($ ) (the “Purchase Price”), payable as follows:
Cash at Closing At Closing, Purchaser shall pay to Seller, by wire transferred current federal funds, an amount equal to the Purchase Price, minus the sum of the Xxxxxxx Money which Seller receives at Closing from the Escrowee, and plus or minus, as the case may require, the closing prorations and adjustments to be made pursuant to Section 4(C) below.
Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.
Mobile Deposit The Mobile Deposit feature enables you to use a software application together with your Wireless Access Device to create electronic images of the front and back of certain Original Checks (defined below) and transmit those images and other information, including, without limitation, information captured from the magnetic ink character recognition (“MICR”) line, to us for review and processing in accordance with this Agreement.
Delivery at Closing At the Closing, the Company will deliver to the Purchaser a stock certificate registered in the Purchaser’s name, representing the number of Shares to be purchased by Purchaser hereunder, against payment of the purchase price therefore as indicated above.
Payment at Closing The Borrower shall have paid (A) to the Administrative Agent, the Arrangers and the Lenders the fees set forth or referenced in Section 4.3 and any other accrued and unpaid fees or commissions due hereunder, (B) all reasonable fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent accrued and unpaid prior to or on the Closing Date, plus such additional amounts of such reasonable fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent) and (C) to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes, fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan Documents.
Purchase Price and Deposit The total purchase price (“Purchase Price”) for the Property shall be an amount equal to $46,010,000.00, payable by Purchaser, as follows: