Earnest Money Deposit. Thx xxx xf Fifty Thousand and Nx/000 Xollars ($50,000.00) (the "Earnest Money Deposit") shall be paid by Buyer (via wire transfer) to xxx Xxtle Company within five (5) Business Days after the Effective Date. If Buyer fails to timely remit the Deposit within the time period provided, Seller may, at its option, terminate this Agreement by delivering written notice to Buyer. Buyer shall not undertake any inspection of the Property until Seller deposits the Earnest Money. If Seller delivers such a termination notice, this Agrxxxxxx shall terminate and neither Seller nor Buyer shall have any further rights or obligations pursuant to this Agreement; provided, however, Buyer shall return all information supplied by Seller in the Schedules and Exhibits to this Agreement or, in the alternative, certify in writing to Seller that all such materials have been destroyed. The Earnest Money Deposit and any interest thereon are hereinafter referrxx xx xs "Earnest Money". The Title Company shall deposit the Earnest Money Depxxxx xxto an interest-bearing money market account mxxxxxxxed at a federally insured bank located in Charlotte, North Carolina, approved by Buyer and Seller. All interest earned shall be reported to the Internal Revenue Service as the income of Buyer. The Buyer shall promptly execute such documents as the Title Company may reasonably request in order to properly report such income. Such account shall have no penalty for early withdrawal and Buyer accepts all risks with regard to the account, specifically including the risk of closure of such bank by state and/or federal regulators, and all losses occasioned thereby. If the transaction contemplated hereby is consummated in accordance with the terms and provisions hereof, the Earnest Money shall be paid, at the option of the Buyer, (a) to Sellex xxx xredited against the Acquisition Price; or (b) returned to Buyer. If the transaction is not so consummated, the Earnest Money shall be held and delivered by the Title Company as herxxxxxxxr provided.
Earnest Money Deposit. An Xxxxxxt Money Deposit in thx xxxxxt of $50,000 shall be delivered to Escrow Agent within three (3) days after the date of execution by the last of Buyer or Seller to execute and transmit a copy of this Agreement to the other. This Agreement may be terminated by Seller if the Earnest Money Deposit is nxx xxxeived by Escrow Agent by such deadline. The Earnest Money Deposit paid xx Xxxxr shall be held as specifically provided in this Agreement and shall be applied to the Purchase Price at the Closing.
Earnest Money Deposit. Xxxx xxecution of this document by both parties and receipt of a Seller- signed copy by Purchaser, $20,000 in immediately available funds shall be deposited by Purchaser with Escrow Agent (identified in Section 2) as an earnest money deposit fxx xxxx Property ("Property Earnest Money Deposit"). Xxx aggregate of the Property Earnest Money Deposits pxxx xx Purchaser for all Properties ($220,000.00) shall be referred to hereinafter as the "Aggregate Earnest Money Deposit." Xxxx receipt of the Aggregate Earnest Money Deposit, Exxxxx Xgent shall insert the date of such receipt on Page 1 of this Agreement (the "Escrow Opening Date') and shall immediately deposit it in a federally insured account and open an escrow account for the transactions contemplated hereby. Any interest earned on escrowed funds shall remain the property of, and be paid to, Purchaser. No additional funds will be escrowed for substituted Alternative Properties.
Earnest Money Deposit. An Earnest Money Dexxxxx xn the amount of $100,000 xxxxl be delivered to Escrow Agent within three (3) days after the date of execution by the last of Buyer or Seller to execute and transmit a copy of this Agreement to the other. This Agreement may be terminated by Seller if the Earnest Money Deposit is not received by Exxxxx Xgent by such deadline. The Earnest Money Deposit paid by Buyer shall xx xxxosited by Escrow Agent in an interest bearing account at First Union National Bank, and shall be held and disbursed by Escrow Agent as specifically provided in this Agreement. The Earnest Money Deposit shall be applied to the Xxxxxxse Price at the Closing.
Earnest Money Deposit. The Earnexx Xxxey Deposit shall be crexxxxx xo the cash due from Buyer at Closing.
Earnest Money Deposit. Wxxxxx xive (5) days following the Execution Date, the REIT shall deposit $50,000 in escrow with the Title Company (the "Earnest Deposit") on axxxxxx of the REIT Capital Contribution. The Earnest Deposit shall bx xxxxxd in an interest-bearing account. At the Closing, the Earnest Deposit shall be xxxxxxd against the Cash Allocation. In the event this Agreement is terminated for any reason other than as a result of a termination pursuant to Section 10.3(c), the Earnest Deposit requirex xx xxis Section 2.4 shall be returned to the REIT. In the event this Agreement is terminated by Transferor pursuant to Section 10.3(c), the Earnest Deposit requirex xx xxis Section 2.4 shall be paid to Lincor on behalf of Transferor. 8
Earnest Money Deposit. Fxxxxxxxg its execution of this Agreement, Buyer shall deposit with Seller, by wire transfer or other immediately available funds, ONE MILLION DOLLARS ($1,000,000) as an earnest money deposit (thx "Xxxxest Money Deposit").
Earnest Money Deposit. In accordance with that certain Letter of Intxxx xxxed May 31, 2001 between RMG and CCBM, CCBM paid RMG the sum of a non-refundable Earnest Money Deposit of $50,000, and RMG hereby acknowledges the tixxxx xxceipt of the Deposit. The Earnest Money Deposit shall be credited against CCBM's obligation to xxxxx $2.5 million for RMG's share of the drilling program described in Section 2.1. Such credit shall apply to the final payment (s) due by CCBM for such obligation.
Earnest Money Deposit. As ax xxxxxst money deposit (the "Exxxxxx Money Deposit"), Tranxxxxxx has deposited with Chicago Title Insurance Company, 5775-C Peachtree Dunwoody Roax, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000-0000 (xxx "Xxxxxx Xxxxx"), xxx xum of ONE HUNDRED AND NO/100 DOLLARS ($100.00) upon the execution of this Agreement by Transferee, which sum shall be held in escrow and credited toward the Contribution Value at closing or otherwise disbursed by Escrow Agent in accordance with the terms of this Agreement.
Earnest Money Deposit. 3.3.1 Simultaneously herewith, Purchaser is dexxxxxxxg to Seller a deposit in the amount of $53,750,000 (the "EARNEST MONEY DEPOSIT") as consideration for Seller's entry into this Xxxxxxxnt. In the event the Closing occurs, the Earnest Money Deposit, together with interest or earnings thereon, shaxx xx xredited against the Cash Purchase Price. In the event the Closing does not occur by the Outside Closing Date and the failure to close is not the result of Purchaser Default hereunder, then the Earnest Money Deposit, together with any interest or earnings thereon, xxxxx be paid to Purchaser on the third business day following the Outside Closing Date. If the Closing does not occur by the Outside Closing Date and the failure to close is the result of Purchaser Default hereunder, then the Earnest Money Deposit shall be retained by Seller in accordance with Axxxxxx 13.
