Construction Deposits. Buyer acknowledges and agrees that (i) Seller (or Affiliates thereof, including without limitation the General Contractor) has provided (or, in Seller's sole discretion may provide) certain security and other deposits, sureties, bonds and/or other similar items in connection with the completion of the Construction Projects (collectively, “Construction Deposits”), including without limitation those set forth on Schedule 8.10 attached hereto, and (ii) the Seller shall be entitled to the entirety of any refund or return of any such Construction Deposits, and for the avoidance of doubt, such amounts shall not be prorated.
Appears in 3 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Associated Estates Realty Corp), Purchase and Sale Agreement (Associated Estates Realty Corp)