Escrow Deposit Sample Clauses

Escrow Deposit. 3.2.1 Within one (1) business day of the execution and delivery of this Agreement, Buyer, Seller and The Fifth Third Bank, as Escrow Agent (the "Deposit Escrow Agent"), shall enter into a Deposit Escrow Agreement in the form of Exhibit B hereto (the "Deposit Escrow Agreement") pursuant to which Buyer --------- shall deposit the amount described below as a deposit on the amount of the Purchase Price. Such amounts held in escrow shall be applied as set forth herein and in the Deposit Escrow Agreement. 3.2.2 Buyer shall wire transfer TWO MILLION DOLLARS ($2,000,000) to the Deposit Escrow Agent's trust account pursuant to the Deposit Escrow Agreement (the "Escrow Deposit"), and at the Closing, the Escrow Deposit shall be applied to the Purchase Price to be paid to Seller and the interest accrued thereon shall be paid to Buyer. As more fully described in the Deposit Escrow Agreement: (a) in the event of Buyer's material breach of this Agreement and Seller shall not at such time be in material breach of this Agreement, the Escrow Deposit, plus any interest earned thereon, shall be paid to Seller as liquidated damages as provided in Section 16.4 hereto for Buyer's material breach of this Agreement (the payment of such sum to Seller shall discharge any liability Buyer may have to Seller hereunder other than in connection with any FCC, Escrow Agent or other fees to the extent payable by Buyer hereunder), unless Seller elects to specifically enforce the Agreement pursuant to the provisions of Section 16.3; and (b) in the event this Agreement is terminated under any circumstances other than a Closing hereunder or those set forth in the immediately preceding clause (a), the Escrow Deposit and the interest accrued thereon shall be paid to Buyer.

Escrow Deposit. Upon the Effective Date, the Company may accept subscriptions for its shares of common stock from qualified investors. The Company and the subscription agreement that it provides to prospective investors shall instruct all subscribers (each a “Subscriber”) to make their checks, bank drafts or money orders for the purchase of such shares payable to the Escrow Agent in trust and to deliver such payment, along with an executed subscription agreement to the Escrow Agent. The Escrow Agent shall deposit all subscription funds received into a non-interest bearing attorney’s trust account in accordance with the requirements of the Florida Bar.

Escrow Deposit. Buyer has deposited with the Escrow Agent the sum of $700,000 in accordance with the Escrow Agreement in the form of Schedule 9.4 hereof. All such funds deposited with the Escrow Agent shall be held and disbursed in accordance with the terms of the Escrow Agreement and the following provisions: (a) At the Closing, all amounts held by the Escrow Agent pursuant to the Escrow Agreement, including any interest or other proceeds from the investment of funds held by the Escrow Agent, shall be disbursed to or at the direction of Buyer. (b) If this Agreement is terminated pursuant to Section 9.1 or 9.2 and Buyer is not in material breach of this Agreement, all amounts held by the Escrow Agent pursuant to the Escrow Agreement, including any interest or other proceeds from the investment of funds held by the Escrow Agent, shall be disbursed to or at the direction of Buyer. (c) If this Agreement is terminated by Seller due to Buyer's material breach of this Agreement, then $700,000 of the amount held by the Escrow Agent pursuant to the Escrow Agreement shall be disbursed to or at the direction of Seller as liquidated damages under Section 9.3 above and any interest or other proceeds from the investment of funds held by the Escrow Agent shall be disbursed by the Escrow Agent to or at the direction of Buyer.

Escrow Deposit. Simultaneously with the execution and delivery of this Agreement, Buyer has deposited the Escrow Deposit with the Escrow Agent in accordance with an Escrow Agreement. All funds and documents deposited with or otherwise held by the Escrow Agent shall be held and disbursed in accordance with the terms of the Escrow Agreement and the following provisions: (a) At the Second Closing, Buyer, Seller and the Company shall jointly instruct the Escrow Agent to disburse all funds held by the Escrow Agent pursuant to the Escrow Agreement, including any interest or other proceeds from the investment of funds held by the Escrow Agent, to or at the direction of Buyer. (b) If this Agreement is terminated pursuant to Article 18 and Buyer is not in material breach of this Agreement, Buyer, Seller and the Company shall jointly instruct the Escrow Agent to disburse all funds held by the Escrow Agent pursuant to the Escrow Agreement, including any interest or other proceeds from the investment of funds held by the Escrow Agent, to or at the direction of Buyer. (c) If this Agreement is terminated by Buyer due to Seller's material breach of this Agreement, then Buyer, Seller and the Company shall jointly instruct the Escrow Agent to disburse the Escrow Deposit to or at the direction of Buyer, and to disburse all other funds held by the Escrow Agent pursuant to the Escrow Agreement, including any interest or other proceeds from the investment of funds held by the Escrow Agent, to or at the direction of Buyer. (d) If this Agreement is terminated by Seller due to Buyer's material breach of this Agreement, then the payment to Seller of the Escrow Deposit pursuant to this Section shall be liquidated damages and shall constitute full payment and the exclusive remedy for any damages suffered by Seller by reason of Buyer's material breach of this Agreement. Seller and Buyer agree in advance that actual damages would be difficult to ascertain and that the amount of the Escrow Deposit is a fair and equitable amount to compensate Seller for Buyer's material breach of this Agreement.

Escrow Deposit. Within three (3) business days after the full execution and delivery of this Agreement, Buyer shall deliver Six Million Five Hundred Thousand Dollars ($6,500,000) (the “Deposit”) to First American Title Insurance Company, at its offices at ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, Attention: ▇▇▇▇ ▇▇▇▇▇, which company, in its capacity as escrow holder hereunder, is called “Escrow Agent”. The Deposit, together with all interest earned thereon, is referred to herein as the “Escrow Deposit”. If, pursuant to Section 5 below, Seller elects to convey portions of the Property to Buyer in more than one conveyance, then One Million Five Hundred Thousand Dollars ($1,500,000) of the Escrow Deposit shall be applied towards the Installment Purchase Price of the first closing of any such portion and the remainder of the Escrow Deposit shall be applied to the Installment Purchase Price of the final closing, upon which Buyer shall have acquired all of the Property (the “Final Closing”). The Escrow Deposit shall be delivered to Escrow Agent by wire transfer of immediately available federal funds or by bank or cashier’s check drawn on a national bank reasonably satisfactory to Seller. Such amount shall be held by Escrow Agent as a deposit against the Purchase Price or Installment Purchase Price in accordance with the terms and provisions of this Agreement. If Buyer delivers the “Go Hard Notice” (as defined below), prior to the expiration of the “Due Diligence Period” (as defined below), then the Escrow Deposit shall be non-refundable to Buyer, except as expressly provided in this Agreement. Upon delivery of the Go Hard Notice, a memorandum of this Agreement, in the form attached hereto as Exhibit “C”, shall be recorded by Seller and Buyer in the official records of the County. At all times that the Deposit is being held by Escrow Agent, the Deposit shall be invested by Escrow Agent in the following investments (“Approved Investments”): (i) United States Treasury obligations, (ii) United States Treasury-backed repurchase agreements issued by a major money center banking institution reasonably acceptable to Seller and Buyer, (iii) the Bank of America money market fund that invests in U.S. Treasury securities known as “Nations Treasury Reserves - Daily Shares (symbol NTRDX)”, or (iv) such other manner as may be reasonably agreed to by Seller and Buyer. The Escrow Deposit shall be disposed of by Escrow Agent only as provided in this Agreement.

Escrow Deposit an escrow deposit of Ten Percent (10%) of the total contract purchase price (which includes the buyer’s premium) will be wire transferred or hand delivered in the form of certified funds to the Title Company no later than 48 hours following the close of auction. See closing agents contact information below. The balance of the purchase price will be due in full at closing.

Escrow Deposit. Contemporaneously with the execution of this Agreement, Purchaser has delivered to the Escrow Agent the Signing Deposit and Seller has delivered to the Escrow Agent the Binder (collectively, the "Escrow Deposit") to be held by the Escrow Agent pursuant to the Escrow Agreement.

Escrow Deposit. Concurrently with the execution and delivery of this Agreement, the Holder will deliver the sum of ____________________ Dollars ($_____________) (the "Escrow Deposit") in lawful money of the United States of America by wire transfer of immediately available funds to Escrow Agent, to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit.

Escrow Deposit. Upon execution and delivery of this Agreement by -------------- all parties, Buyer will deposit with Star Media, Inc., ("▇▇▇▇▇▇▇ Money Escrow Agent"), an irrevocable letter of credit in the amount of Three Million Seven Hundred Fifty Thousand Dollars ($3,750,000.00) (the "▇▇▇▇▇▇▇ Money Escrow Deposit") in favor of Pinnacle as beneficiary thereunder. The ▇▇▇▇▇▇▇ Money Escrow Deposit shall be held and disbursed by ▇▇▇▇▇▇▇ Money Escrow Agent pursuant to the terms of the ▇▇▇▇▇▇▇ Money Escrow Agreement, appended hereto as Exhibit 14.1 (the "▇▇▇▇▇▇▇ Money Escrow Agreement"), which ▇▇▇▇▇▇▇ Money Escrow Agreement shall be executed and delivered concurrently with this Agreement by the Sellers, Buyer and ▇▇▇▇▇▇▇ Money Escrow Agent. At Closing, the ▇▇▇▇▇▇▇ Money Escrow Deposit shall be returned to Buyer. If the Closing does not occur solely because Buyer breached this Agreement or defaulted in the performance of any of its obligations hereunder, then Buyer and Sellers shall execute written instructions to the ▇▇▇▇▇▇▇ Money Escrow Agent directing it to deliver the ▇▇▇▇▇▇▇ Money Escrow Deposit to Sellers as liquidated damages, as provided in Section 14.2. If the Closing does not occur solely because Sellers materially breached this Agreement or materially defaulted in the performance of any of their obligations hereunder, then Buyer and Sellers shall execute written instructions to the ▇▇▇▇▇▇▇ Money Escrow Agent directing it to deliver the ▇▇▇▇▇▇▇ Money Escrow Deposit to Buyer and Buyer may seek specific performance of this Agreement , as provided in Section 14.3.