Common use of Disposition of Deposit Clause in Contracts

Disposition of Deposit. Seller and Buyer instruct Escrow Agent to place the Deposit and Additional Deposit, if applicable, in a federally insured interest-bearing account. The Deposits will be applied as follows: (a) if Buyer terminates this Agreement in any situation where Buyer is permitted or deemed to do so under this Agreement and whereby upon such termination Buyer shall be entitled to a refund of the Deposit (including without limitation any failure of a condition precedent under Section 13 below), the Deposits will be paid immediately to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement, except with respect to any obligations which are expressly stated in this Agreement to survive a termination prior to Closing (the “Surviving Obligations”); (b) if Seller terminates this Agreement as the result of an uncured default by Buyer as provided in Section 21(b) below, the Deposits will be paid to Seller; and (c) if escrow closes, the Deposits will be credited to Buyer, applied against the Purchase Price and paid to Seller at Closing.

Disposition of Deposit. Seller and Buyer instruct Escrow Agent to place the Deposit and Additional Deposit, if applicable, in a federally insured interest-bearing account. The Deposits Deposit will be applied as follows: (a) if Buyer terminates this Agreement in any situation where Buyer is permitted or deemed to do so under this Agreement and whereby upon such termination Buyer shall be entitled to a refund of the Deposit (including without limitation any failure of a condition precedent under Section 13 below), the Deposits Deposit will be paid immediately to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement, except with respect to any obligations which are expressly stated in this Agreement to survive a termination prior to Closing (the “Surviving Obligations”); (b) if Seller terminates this Agreement as the result of an uncured default by Buyer as provided in Section 21(b) below, the Deposits Deposit will be immediately paid to Seller; and (c) if escrow closes, the Deposits Deposit will be credited to Buyer, applied against the Purchase Price and paid to Seller at Closing.

Disposition of Deposit. Seller and Buyer instruct Escrow Agent to place the Deposit and Additional Deposit, if applicable, in a federally insured interest-bearing account. The Deposits Deposit will be applied as follows: (a) if Buyer terminates this Agreement as to the Property in any situation where Buyer is permitted or deemed to do so under this Agreement and whereby upon such termination Buyer shall be entitled to a refund of the Deposit (including without limitation any failure of a condition precedent under Section 13 below), the Deposits Deposit will be paid immediately to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement, except with respect to any obligations which are expressly stated in this Agreement to survive a termination prior to Closing (the “Surviving Obligations”); (b) if Seller terminates this Agreement as the result of an uncured default by Buyer as provided in Section 21(b) below, the Deposits Deposit will be paid to Seller; and (c) if escrow closes, the Deposits Deposit will be credited to Buyer, applied against the Purchase Price and paid to Seller at Closing.

Disposition of Deposit. Seller and Buyer instruct Escrow Agent to place the Deposit and Additional Deposit, if applicable, in a federally insured interest-bearing account. The Deposits Deposit will be applied as follows: (a) if Buyer terminates this Agreement in any situation where Buyer is permitted or deemed to do so under this Agreement and whereby upon such termination Buyer shall be entitled to a refund of the Deposit (including without limitation any failure of a condition precedent under Section 13 below), the Deposits Deposit will be paid immediately to Buyer, and neither of the Parties will have any Purchase and Sale Agreement Walgreens – Kilgore, TX further liability or obligation under this Agreement, except with respect to any obligations which are expressly stated in this Agreement to survive a termination prior to Closing (the “Surviving Obligations”); (b) if Seller terminates this Agreement as the result of an uncured default by Buyer as provided in Section 21(b) below, the Deposits Deposit will be paid to Seller; and (c) if escrow closes, the Deposits Deposit will be credited to Buyer, applied against the Purchase Price and paid to Seller at Closing.