Contribution Value; Escrow Agent Sample Clauses

Contribution Value; Escrow Agent. (a) ▇▇▇▇▇▇▇ is to contribute and Inland is to accept all of the Property for the aggregate Contribution Value of ONE HUNDRED THIRTY MILLION FOUR HUNDRED THIRTY THOUSAND and NO/100 DOLLARS ($130,430,000.00) for the “Property Values” described upon “Exhibit O,” attached hereto and made a part hereof (hereinafter collectively referred to as the “Contribution Value”). The Contribution Value shall be paid and is subject to adjustment as provided in subsections 1.2 (g) and 1.2 (h), below. (b) Upon the execution and delivery of this Agreement by ▇▇▇▇▇▇▇ and Inland, Inland shall deposit with Chicago Title Insurance Company, ▇▇▇ ▇. ▇▇▇▇▇ Street, Chicago, IL 60601, the sum of ONE MILLION and NO/100 ($1,000,000.00) DOLLARS (hereinafter referred to as the “Good Faith Deposit”). This Agreement shall not be deemed to be effective and binding upon the parties hereto unless and until the Good Faith Deposit is so delivered. If the Good Faith Deposit is not paid within two business days following complete execution of this Agreement by all parties, this Agreement shall be null and void and no party shall be bound by the terms hereof. The Escrow Agent shall hold the Good Faith Deposit in an interest-bearing trust account maintained by the Escrow Agent at Chicago Title Insurance Company, Chicago Office (hereinafter referred to as the “Deposit Escrow Account”), in accordance with the terms and conditions of this Agreement. The term “Deposit” shall mean and refer to the Good Faith Deposit excluding all accrued interest in the Deposit Escrow Account, which shall be the property of Inland in all events. The Deposit shall be distributed in accordance with the terms of this Agreement.