Deposit and Escrow. 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Sxxxx Xxxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: sxxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money deposit in the amount of ten thousand and No/100 Dollars ($10,000) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties.
Deposit and Escrow. 1.4.1 Within three (3) Business Days (as defined below) after the Effective Date, Buyer shall deliver to Escrow Agent at the following address: 000 Xxxxx Xxxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxxxxx, XX 00000 Attn: Xxxxxx Xxxxxxx, Vice President, Special Projects (xxxxxxx@xxx.xxx) Phone: (000) 000-0000, a deposit in the form of cash or a wire transfer of immediately available funds in the amount of One Hundred Eleven Thousand One Hundred and No/100 Dollars ($111,100.00) (the "Initial Deposit”), and within one (1) Business Day following the expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Escrow Agent an additional good faith deposit (the "Additional Deposit”) of Fifty Five Thousand Five Hundred Fifty and No/100 Dollars ($55,550.00). The Initial Deposit and the Additional Deposit shall be collectively referred to herein as the “Deposit”. The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the Buyer. All interest earned on the Deposit shall be reported to the Internal Revenue Service as the income of Buyer. Buyer shall promptly execute such documents as the Escrow Agent may reasonably request to report properly such income. If Buyer fails to deposit the Initial Deposit in accordance with this Section, this Agreement shall terminate and neither Seller nor Buyer shall have any further rights, obligations or liabilities to the other party arising out of or resulting from this Agreement except as follows: Buyer shall return to Seller: (i) all Property Information (as defined below); and (ii) all information provided by Seller as part of the Exhibits and Schedules to this Agreement. In the event Buyer fails to deposit the Initial Deposit in accordance with this Section, Seller’s remedies shall be limited to receipt of such materials, and in no event shall Seller be entitled to the Initial Deposit. Failure to timely deliver the Additional Deposit (after notice and expiration of any applicable cure period) shall constitute a default by Buyer.
Deposit and Escrow. 1.4.1 Within three (3) Business Days of the Effective Date, Buyer shall deliver to Escrow Agent at the following address: 000 X. Xxxxxxxx, Suite 400, Los Angeles, California 90017, Attn: Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: xxxxxxxxxx@xxxxxxx.xxx, with confirmation provided to Seller, a deposit in the amount of Three Hundred Thousand and No/100 Dollars ($300,000.00) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper and required party or parties.
Deposit and Escrow. 1.6.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money deposit in the amount of Fifty Thousand and No/100 Dollars ($50,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties.
Deposit and Escrow. (a) The Company and each Purchaser hereby appoint Morse, Zelnick, Rose & Lander, LLP to act as escrow agent (“Escrow Agent”) in connection with the transactions contemplated hereby upon the following terms and conditions:
Deposit and Escrow. 1.4.1 Within three (3) Business Days after the latter of (a) the Effective Date or (b) the receipt of all of the Property Information (as described in Section 3.3), Buyer shall deliver to Escrow Agent at the following address: 0000 Xxxxxx Xxxx, Suite 300, Longview, Texas 75605 Attn: Xxxxx Xxxx, a deposit in the amount of One Million and No/100 Dollars ($1,000,000.00) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper party or parties.
Deposit and Escrow. 1.4.1 Within three (3) Business Days after the latter of (a) the Effective Date or (b) the receipt of all of the Property Information (as described in Section 3.3), Buyer shall deliver to Escrow Agent at the following address: 000 X. Xxxxxxxx, Suite 400, Los Angeles, California 90017, Attn: Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: xxxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of Two Hundred Thousand and No/100 Dollars ($200,000.00) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper party or parties.
Deposit and Escrow. 1.3.1 Within three (3) Business Days after execution of this Agreement by both Buyer and Seller, Buyer shall deliver to Escrow Agent, whose contact information is 0000 Xxxxx Xxxxxx, Suite 800, Dallas, Texas 75201, (000) 000-0000, Attn: Xxxxxxx Xxxxxx, by wire transfer in accordance with the instructions set forth on Schedule 1.3.1 hereto a deposit in the amount of Five Hundred Thousand and 00/100 Dollars ($500,000.00) (the “Deposit”). In addition, as independent consideration for the rights and benefits granted to Buyer, One Hundred and 00/100 Dollars ($100.00) of the Deposit is independent consideration hereunder and is non-refundable, and is immediately released by Escrow Agent to Seller and immediately becomes the property of Seller upon execution and delivery of this Agreement by Buyer (and thus all references to a return of the Deposit to Buyer shall mean the $500,000.00 less the $100 non-refundable portion.) The Deposit shall be held in an insured, interest-bearing escrow account at a bank reasonably acceptable to both Seller and Buyer with interest accruing for the benefit of the party entitled to the Deposit (and at Closing (as defined below) or such other date upon which the Deposit is released pursuant to the terms hereof, the interest will be paid to the party entitled to the Deposit). Escrow Agent may conclusively rely upon and act, subject to the escrow provisions of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper party or parties entitled to deliver same to Escrow Agent under this Agreement.
Deposit and Escrow. 4 3.1 Application of Deposit...............................................................................................4 3.2 Escrow Agent.............................................................................................................5 3.3 Seller Escrow..............................................................................................................7 ARTICLE IV. Closing, Prorations and Closing Costs............................................................8 4.1 Closing........................................................................................................................8 4.2 Prorations....................................................................................................................9
Deposit and Escrow. 1.4.1 Within three (3) Business Days after the latter of (a) the Effective Date or (b) the receipt of all of the Property Information (as described in Section 3.3) which is in Seller’s possession, Buyer shall deliver to Escrow Agent at the following address: 000 X. Xxxxxxxx, Suite 400, Los Angeles, California 90017, Attn: Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: xxxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper party or parties.
