Common use of Deposit Money Clause in Contracts

Deposit Money. Within three (3) business days after the Effective Date, and as a condition precedent to the effectiveness of this Agreement, Buyer shall deposit an amount set forth in the Supplemental Agreement ("INITIAL EARNEST MONEY") with Xxxxx Xmerican Title Insurance Company, 633 Third Avenux, Xxx Xxxx, Xxx Xxxx 00000, Xxxxxxxxx: Xxxxx Clay, as escrow xxxnt ("ESCROW AGENT"). If Buyer approves or is deemed to have approved the Property as set forth in Section 4.2 of this Agreement, Buyer shall deposit an additional amount set forth in the Supplemental Agreement ("ADDITIONAL EARNEST MONEY") with Xxxxxx Agent (the Additional Earnest Money axx xxx Initial Earnest Money are colxxxxxxxly hereinafter referred to as the "DEPOSIT"). The Deposit shall be nonrefundable except as herein provided. The Deposit shall be deposited by Escrow Agent in an interest-bearing account, and any interest earned on the Deposit shall be considered a part of the Deposit. Except as expressly otherwise set forth herein, the Deposit shall be applied against the Purchase Price on the Closing Date.

Deposit Money. Within three (3) business days after the Effective Date, and as a condition precedent to the effectiveness of this Agreement, Buyer shall deposit an amount set forth in the Supplemental Agreement ("INITIAL EARNEST MONEY") with Xxxxx Xmerican Fxxxx Xxerican Title Insurance Company, 633 Third AvenuxAvenue, Xxx Xxxx, Xxx Xxxx 00000, Xxxxxxxxx: Xxxxx ClayXlay, as escrow xxxnt xxxxt ("ESCROW AGENT"). If Buyer approves or is deemed to have approved the Property as set forth in Section 4.2 of this Agreement, Buyer shall deposit an additional amount set forth in the Supplemental Agreement ("ADDITIONAL EARNEST MONEY") with Xxxxxx Agent (the Additional Earnest Money axx anx xxx Initial Xnitial Earnest Money are colxxxxxxxly collxxxxxxxy hereinafter referred to as the "DEPOSIT"). The Deposit shall be nonrefundable except as herein provided. The Deposit shall be deposited by Escrow Agent in an interest-bearing account, and any interest earned on the Deposit shall be considered a part of the Deposit. Except as expressly otherwise set forth herein, the Deposit shall be applied against the Purchase Price on the Closing Date.