Extension Deposit. Buyer has deposited with Escrow Agent an amount equal to Nine Hundred Seventy-Six Thousand Seven Hundred Forty and 42/100 Dollars ($976,740.42) (the “Extension Deposit”) in consideration of the extension of the Closing Date, which shall be deemed earned by Seller as of the Closing and disbursed in accordance with Section 3.2(a) below.
Extension Deposit. The Purchaser shall be responsible for funding any and all amounts that may be required under Parent’s Organizational Documents and the Investment Management Trust Agreement in order to extend the period of time for Parent to consummate a Business Combination (as such term is defined in Parent’s Organizational Documents) (each of such extension, an “Extension”).
Extension Deposit. On November 20, 2015, ArchCo gave an Outside Closing Date Extension Notice to Seller in accordance with Section 2.4(c) of the Purchase Agreement. The date by which Purchaser must deposit the Extension Deposit relating to the Outside Closing Date Extension Notice is extended until November 30, 2015. The Outside Closing Date Extension Notice given by ArchCo shall be deemed to extend the Closing Date until not later than January 6, 2016, as provided in Section 2 of this Amendment.
Extension Deposit. The additional xxxxxxx money deposit(s) paid by Buyer concurrently with its delivery of an Extension Notice to Seller, in the amount of One Hundred Thousand and No/100ths Dollars ($100,000.00).
Extension Deposit. In the event that the Closing cannot occur on or before the initial expiration date of the Parent (the “Initial Expiration Date”), as provided for in the Parent Certificate of Incorporation, because the SEC has not declared the Form S-4/Proxy Statement effective, resulting in the inability of Parent to schedule the Parent Stockholder Meeting prior to the Initial Expiration Date, the Parent shall have the right to effect one or more one-month extensions of the Parent’s corporate duration (in accordance with the terms of the Parent Certificate of Incorporation) so that the Transaction can be consummated and the Company shall, within five (5) business days after receipt of a written request of Parent, advance to the Parent the necessary extension fees (as provided for in the Parent Certificate of Incorporation) by wire transfer of immediately available funds. Such advance(s) shall be evidenced by the issuance of one or more promissory notes, which notes will be repaid for the benefit of the Stockholders in shares of Parent Common Stock at the price of $10.00 per share upon the consummation of the Transaction. In the event of termination of this Agreement pursuant to Section 11.1(b) (but only if such termination is as a direct result of the failure to satisfy the conditions set forth in Section 9.1(a),Section 9.1(e), or Section 9.2) or Section 11.1(e), or termination by Parent pursuant to Section 11.1(f), Parent shall have the right, without further action, to retain the full amount of such advances and the note evidencing such advances shall be deemed cancelled and satisfied in full. In the event of the termination of this Agreement for any other reason, Parent shall promptly repay to the Company the full amount of such advances.
Extension Deposit. The last sentence of Section 8.2 of the Purchase Agreement is hereby deleted in its entirety, and all references in the Purchase Agreement to the “Extension Deposit” are hereby deleted.
Extension Deposit. In the event Buyer exercises Buyer's Election (as described below) to extend the Due Diligence Period and Closing Date as provided in Section 3.3(b) hereof, Buyer shall increase the Deposit to Two Hundred Thousand Dollars ($200,000).
Extension Deposit. Section 2.03(c) of the Purchase and Sale Agreement shall be amended by removing any reference to the Extension Deposit, so that the Deposit shall consist only of the Initial Deposit, the Additional Deposit and the Final Deposit.
Extension Deposit. The last sentence of Section 8.2 of the Purchase Agreement is hereby deleted in its entirety and the following text is inserted in lieu thereof: “Notwithstanding the foregoing or the provisions of Section 2.2 above, Buyer shall have the right to extend the original Closing Date for an additional fifteen days (until September 27, 2011), upon Buyer’s (i) delivery of written notice to Seller no later than 5:00 p.m. Central Standard Time on September 12, 2011, and (ii) deposit of cash or other immediately available funds in escrow with the Title Company in the amount of One Million Dollars ($1,000,000) no later than 5:00 p.m. Central Standard Time on September 12, 2011 (the “Extension Deposit”).”
Extension Deposit. Three Hundred Fifty Thousand and No/100 Dollars ($350,000.00). -----------------
