Common use of Disposition of Xxxxxxx Money Clause in Contracts

Disposition of Xxxxxxx Money. The Xxxxxxx Money shall be applied as a credit to the Purchase Price at Closing. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.4, Escrow Agent shall pay the entire Xxxxxxx Money to Purchaser one (1) business day following receipt of the Due Diligence Termination Notice from Purchaser and Purchaser’s compliance with Section 4.5. No notice or additional authorization to Escrow Agent from Seller shall be required for the release of the Xxxxxxx Money to Purchaser by Escrow Agent if Purchaser terminates this Agreement pursuant to Section 4.4. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.4, Escrow Agent is authorized to deliver the Xxxxxxx Money to the party hereto entitled to same pursuant to the terms hereof on or before the third (3rd) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Xxxxxxx Money. In such event, Escrow Agent may interplead the Xxxxxxx Money into a court of competent jurisdiction in the county in which the Xxxxxxx Money has been deposited. All reasonable attorneys’ fees and costs and Escrow Agent’s costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Xxxxxxx Money or, if the Xxxxxxx Money is distributed in part to both parties, then in the inverse proportion of such distribution.

Disposition of Xxxxxxx Money. The Xxxxxxx Money shall be applied as a credit to the Purchase Price at Closing. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.44.5, Escrow Agent shall pay the entire Xxxxxxx Money to Purchaser one (1) business day following receipt of the Due Diligence Termination Notice from Purchaser and Purchaser’s compliance with Section 4.5. No notice or additional authorization to Escrow Agent from Seller shall be required for the release of the Xxxxxxx Eames’ Money to Purchaser by Escrow Agent if Purchaser terminates this Agreement pursuant to Section 4.44.5. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.44.5, Escrow Agent is authorized to deliver the Xxxxxxx Money to the party hereto entitled to same pursuant to the terms hereof on or before the third tenth (3rd10th) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Xxxxxxx Money. In such event, Escrow Agent may interplead the Xxxxxxx Money into a court of competent jurisdiction in the county in which the Xxxxxxx Money has been deposited. All reasonable attorneys’ fees and costs and Escrow Agent’s costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Xxxxxxx Money orMoney, or if the Xxxxxxx Money is distributed in part to both parties, then in the inverse proportion of such distribution.. Agreement of Purchase and Sale - (Parkway at Oak Hill) - Page 5 4171958.3 13662.94208

Disposition of Xxxxxxx Money. The Xxxxxxx Money shall be applied as a credit to the Purchase Price at Closing. However, if Purchaser elects to terminate (or is deemed to have terminated) this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.4as permitted under this Agreement, Escrow Agent shall pay the entire Xxxxxxx Money to Purchaser one Business Day following the termination (1or deemed termination) business day following receipt of the Due Diligence Termination Notice from Purchaser this Agreement, and Purchaser’s compliance with Section 4.5. No no notice to or additional authorization to Escrow Agent approval from Seller shall be required for the release such payment of the Xxxxxxx Money to Purchaser by Escrow Agent if Purchaser terminates this Agreement pursuant to Section 4.4Purchaser. In the event of a any other termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.4party, Escrow Agent is authorized to deliver the Xxxxxxx Money to the party hereto entitled to same pursuant to the terms hereof on or before the third (3rd) business day fifth Business Day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other non-terminating party hereto notifies Escrow Agent that it disputes the right of the other terminating party to receive the Xxxxxxx Money. In the event of such eventa dispute, Escrow Agent may interplead the Xxxxxxx Money into a court of competent jurisdiction in the county in which the Xxxxxxx Money has been deposited. All reasonable attorneys’ fees and costs and Escrow Agent’s costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Xxxxxxx Money orMoney, or if the Xxxxxxx Money is distributed in part to both parties, then in the inverse proportion of such distribution.

Disposition of Xxxxxxx Money. The Xxxxxxx Money shall be applied as a credit to the Purchase Price at Closing. However, if Purchaser elects to terminate terminates this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.4, Escrow Agent shall pay the entire Xxxxxxx Money (less the Independent Consideration) to Purchaser within one (1) business day following receipt of the Due Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and Purchaser’s compliance with Section 4.5disbursed in one business day). No notice or additional authorization to Escrow Agent from Seller shall be required for the release of the Xxxxxxx Money to Purchaser by Escrow Agent if Purchaser terminates this Agreement pursuant to Section 4.4. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.4, Escrow Agent is authorized to deliver the Xxxxxxx Money to the party hereto entitled to same pursuant to the terms hereof on or before the third (3rd) tenth business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Xxxxxxx Money. In such event, Escrow Agent may interplead the Xxxxxxx Money into a court of competent jurisdiction in the county in which the Xxxxxxx Money has been deposited. All reasonable attorneys’ ' fees and costs and Escrow Agent’s 's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Xxxxxxx Money orMoney, or if the Xxxxxxx Money is distributed in part to both parties, then in the inverse proportion of such distribution.

Disposition of Xxxxxxx Money. The Xxxxxxx Money shall be applied as a credit to the Purchase Price at Closing. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.44.3, Escrow Agent shall pay the entire Xxxxxxx Money to Purchaser one (1) business day Business Day following Escrow Agent’s receipt of the Due Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and Purchaser’s compliance with Section 4.5disbursed in one Business Day). No notice or additional authorization to Escrow Agent from Seller shall be required for the release of the Xxxxxxx Money to Purchaser by Escrow Agent if Purchaser terminates this Agreement pursuant to Section 4.44.3. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.44.3, Escrow Agent is authorized to deliver the Xxxxxxx Money to the party hereto entitled to same pursuant to the terms hereof on or before the third (3rd) business day tenth Business Day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Xxxxxxx Money. In such event, Escrow Agent may interplead the Xxxxxxx Money into a court of competent jurisdiction in the county in which the Xxxxxxx Money has been deposited. All reasonable attorneys’ fees and costs and Escrow Agent’s costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Xxxxxxx Money orMoney, or if the Xxxxxxx Money is distributed in part to both parties, then in the inverse proportion of such distribution.

Disposition of Xxxxxxx Money. The Xxxxxxx Money shall be applied as a credit to the Purchase Price at Closing. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.44.5, Escrow Agent shall pay the entire Xxxxxxx Money to Purchaser one (1) business day following receipt of the Due Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and Purchaser’s compliance with Section 4.5disbursed in one business day). No notice or additional authorization to Escrow Agent from Seller shall be required for the release of the Xxxxxxx Money to Purchaser by Escrow Agent if Purchaser terminates this Agreement pursuant to Section 4.44.5. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.44.5, Escrow Agent is authorized to deliver the Xxxxxxx Money to the party hereto entitled to same pursuant to the terms hereof on or before the third tenth (3rd10th) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Xxxxxxx Money. In such event, Escrow Agent may interplead the Xxxxxxx Money into a court of competent jurisdiction in the county in which the Xxxxxxx Money has been deposited. All reasonable attorneys’ ' fees and costs and Escrow Agent’s 's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Xxxxxxx Money orMoney, or if the Xxxxxxx Money is distributed in part to both parties, then in the inverse proportion of such distribution.