Common use of Extension Deposit Clause in Contracts

Extension Deposit. In consideration of extending the Closing Date, Buyer shall deposit with Escrow Agent no later than June 3, 2024, an additional Two Hundred Thousand and 00/100 Dollars ($200,000.00) (the “Second Extension Deposit”). The Second Extension Deposit shall be immediately released to the Seller. The Second Extension Deposit shall be credited against the Purchase Price at Closing, and the Second Extension Deposit, along with the Initial Deposit, the Additional Deposit and the Extension Deposit, shall collectively be referred to as the “Deposit”.

Extension Deposit. In consideration of extending the Closing Date, Buyer shall deposit with Escrow Agent no later than June May 3, 2024, an additional Two Three Hundred Thousand and 00/100 Dollars ($200,000.00300,000.00) (the “Second Extension Deposit”). The Second Extension Deposit shall be immediately released to the Seller. The Second Extension Deposit shall be credited against the Purchase Price at Closing, and the Second Extension Deposit, along with the Initial Deposit, the Additional Deposit and the Extension Additional Deposit, shall collectively be referred to as the “Deposit”.