Exxxxxx Money. (a) Within the three (3) business days after Seller, Purchaser and the Escrow Agent have executed and delivered the Escrow Agreement, Purchaser shall deposit the Initial Exxxxxx Money to Escrow Agent by federal wire transfer payable to Escrow Agent, which Initial Exxxxxx Money shall be held and released by Escrow Agent in accordance with the terms of this Agreement.
(b) Within three (3) business days after the last day of the Inspection Period, Purchaser shall deposit the Additional Exxxxxx Money with Escrow Agent.
(c) Within three (3) business days after Purchaser’s receipt of the last of Purchaser’s Due Diligence Updates, Purchaser shall deposit the Second Additional Exxxxxx Money with Escrow Agent.
(d) The Escrow Agent shall apply the Exxxxxx Money to the Purchase Price at the Closing and shall otherwise hold, refund, or disburse the Exxxxxx Money in accordance with the terms of this Agreement and in accordance with this Agreement’s terms and conditions and the Escrow Agreement in the form attached hereto as Exhibit “C” (the “Escrow Agreement”), which the Parties and the Escrow Agent shall execute and deliver within two (2) days after the Effective Date. All interest and other income from time to time earned on the Initial Exxxxxx Money, the Additional Exxxxxx Money and the Second Additional Exxxxxx Money shall be earned for the account of Purchaser, and shall be a part of the Exxxxxx Money; and the “Exxxxxx Money” hereunder shall be comprised of the Initial Exxxxxx Money, the Additional Exxxxxx Money, the Second Additional Exxxxxx Money and all such interest and other income.
Exxxxxx Money. Within five (5) business days after an election has been made or deemed made under Section 15.1(c), the acquiring Member shall deposit with a mutually acceptable third-party escrow agent a non-refundable exxxxxx money deposit in the amount of two percent (2%) of the amount the selling Member is entitled to receive for its Interest under this Section 15.1, which amount shall be applied to the purchase price at closing. If the acquiring Member should thereafter fail to consummate the transaction for any reason other than a default by the selling Member or a refusal by any lender of the Company (or any Subsidiary of the Company) who has a right under its loan documents to consent to such transfer to so consent, (i) (A) the exxxxxx money deposit shall be distributed from escrow to the selling Member, free of all claims of the acquiring Member, as liquidated damages and constituting the sole and exclusive remedy available to the selling Member because of a default by the acquiring Member or (B) the selling Member may, by delivering to the acquiring Member written notice thereof, elect to buy the acquiring Member’s entire Interest for an amount equal to the amount the acquiring Member would have been entitled to receive if the Company had sold all of its assets for the Valuation Amount and the Company had immediately paid all Company liabilities and Imputed Closing Costs and distributed the net proceeds of the sale to the Members in satisfaction of their Interests pursuant to Section 13.3, in which case, the Closing Date therefor shall be the date specified in the selling Member’s notice, and (ii) if the acquiring Member was the Offeror, the non-refundable exxxxxx money deposit for any future election by the acquiring Member to buy the selling Member’s Interest shall be twenty percent (20%) of the amount the selling Member is entitled to receive for its Interest in connection with such future election.
Exxxxxx Money. Buyer will deposit with First American Title Insurance Company of Oregon (the "Escrow Agent") cash or certified funds, as exxxxxx money deposits, in the following amounts (collectively, the "Exxxxxx Money"):
(i) Provided this Agreement has not been previously terminated in accordance with its terms, within three (3) business days after completion of the Audit (as defined below) and the Qualification (as defined below) Buyer will deposit Five Thousand Dollars ($5,000) (the "Initial Deposit") with Escrow Agent. From and after the date of deposit, the Initial Deposit will be part of the Exxxxxx Money for all purposes of this Agreement.
(ii) Provided this Agreement has not been previously terminated in accordance with its terms, within three (3) business days after Funding Milestone #1 (as defined below) is met Buyer will deposit an additional Five Thousand Dollars ($5,000) (the "First Additional Deposit") with Escrow Agent. From and after the date of deposit, the Second Additional Deposit will be part of the Exxxxxx Money for all purposes of this Agreement.
(iii) Provided this Agreement has not been previously terminated in accordance with its terms, within three (3) business days after Funding Milestone #2 (as defined below) is met Buyer will deposit an additional Five Thousand Dollars ($5,000) (the "Second Additional Deposit") with Escrow Agent. From and after the date of deposit, the Second Additional Deposit will be part of the Exxxxxx Money for all purposes of this Agreement. At Closing (as defined below), Buyer will receive a credit against the Purchase Price in the amount of the Exxxxxx Money. Provided this Agreement has not been previously terminated in accordance with its terms, the Exxxxxx Money shall become nonrefundable on the date that Buyer makes the Second Additional Deposit, except as otherwise expressly provided in this Agreement.
Exxxxxx Money. Within one (1) business day following the Effective Date, Purchaser will deliver to the Escrow Agent the sum of ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) (the “First Deposit”) via wire transfer. The First Deposit shall be non-refundable, except in the event of a Seller default. Within one (1) business day following the expiration of the Study Period, assuming Purchaser has not previously elected to terminate this Agreement, Purchaser shall deliver to the Escrow Agent the additional sum of ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) (the “Second Deposit”) (the First Deposit and the Second Deposit, if any, and all interest earned thereon are hereinafter collectively referred to as the “Exxxxxx Money”) via wire transfer. The Exxxxxx Money shall be invested by the Escrow Agent in short term interest bearing accounts at banks or other financial institutions, which accounts must be insured by the Federal Deposit Insurance Corporation. All interest earned on such deposits shall belong to the party (as between Seller and Purchaser) who is entitled to receive the Exxxxxx Money under the applicable provisions of this Agreement. In the event the transactions contemplated herein are not closed in accordance with the provisions hereof, the Exxxxxx Money shall be disbursed to either Seller or Purchaser as provided in this Agreement.
Exxxxxx Money. Within 3 business days after receipt of a fully executed copy of this Agreement, Purchaser shall deposit the Initial Exxxxxx Money with the Escrow Agent. Within 3 business days after expiration of the Due Diligence Period, if this Agreement has not theretofore been terminated or deemed terminated, Seller will deposit the Additional Exxxxxx Money with Escrow Agent. The Exxxxxx Money shall be applied to the Purchase Price at Closing. If this Agreement terminates pursuant to any express right of Purchaser or Seller to terminate this Agreement other than as a result of Seller’s default, the Exxxxxx Money shall be refunded to Purchaser immediately upon request, and all further rights and obligations of the parties under this Agreement shall terminate. The Exxxxxx Money shall be held and disbursed by the Escrow Agent pursuant to Article 9 of this Agreement.
Exxxxxx Money. (a) Within one (1) Business Day after the Effective Date, Purchaser shall deliver the Initial Exxxxxx Money to Escrow Agent by federal wire transfer, payable to Escrow Agent, which Initial Exxxxxx Money shall be held and released by Escrow Agent in accordance with the terms of the Escrow Agreement. The failure of Purchaser to timely deliver the Initial Exxxxxx Money shall be a material default and shall entitle Seller, at Seller’s sole option and prior to the time the Initial Exxxxxx Money is received by Escrow Agent, to terminate this Agreement immediately upon written notice thereof to Purchaser, in which case neither party shall have any further rights or obligations under this Agreement except those that expressly survive termination.
(b) The Exxxxxx Money shall be applied to the Purchase Price at the Closing and shall otherwise be held, refunded, or disbursed in accordance with the terms of the Escrow Agreement and this Agreement. All interest and other income from time to time earned on the Initial Exxxxxx Money shall be earned for the account of Purchaser, and shall be a part of the Exxxxxx Money; and the Exxxxxx Money hereunder shall be comprised of the Initial Exxxxxx Money and all such interest and other income.
Exxxxxx Money. $1,000,000.00, including interest thereon, to be deposited in accordance with Section 3.1 below.
Exxxxxx Money. The aggregate of the Initial Exxxxxx Money Deposit and the Remaining Exxxxxx Money Deposit.
Exxxxxx Money. Within 2 business days after the Contract Date, Buyer will deposit with the Closing Agent the cash sum of $500,000.00 (as such amount may be increased pursuant to Section 10.1 below, and including any accrued interest, the “Exxxxxx Money”). The Exxxxxx Money shall be held by the Closing Agent until disbursed as set forth in this Agreement. Buyer shall execute and deliver any appropriate W-9 forms requested by the Closing Agent. If Buyer acquires the Property, the Exxxxxx Money shall be paid to Seller and applied as a credit against the Consideration. If all of the conditions precedent set forth in this Agreement are not met or resolved to the satisfaction of Buyer, or Buyer terminates this Agreement as expressly permitted pursuant to the provisions hereof, the Exxxxxx Money shall be returned by the Closing Agent to Buyer without further instruction from Seller. If all of the conditions precedent set forth in this Agreement have been satisfied or waived by Buyer, and Buyer is obligated to purchase the Property pursuant to the terms of this Agreement and thereafter Buyer defaults on its obligation to acquire the Property pursuant to the terms of this Agreement and Seller is not otherwise in material default, then the Exxxxxx Money shall be delivered to Seller and shall be retained by Seller as liquidated damages. If there is a dispute between Buyer and Seller as to the distribution of the Exxxxxx Money, or if for any other reason the Closing Agent in good faith elects not to make any such disbursement, the Closing Agent shall continue to hold the Exxxxxx Money until otherwise directed by written instructions executed both by Seller and Buyer, or by a final judgment of a court of competent jurisdiction. Upon request, Buyer and Seller shall execute Closing Agent’s standard exxxxxx money escrow agreement in form reasonably acceptable to Buyer and Seller; provided, however, that if there is any conflict or inconsistency between such escrow agreement and this Agreement, then this Agreement shall control. Notwithstanding anything stated to the contrary in this Agreement, the only circumstance under which Seller shall be entitled to receive the Deposit if Closing fails to occur is if Buyer fails to purchase the Property when it is obligated to do so under this Agreement. In addition, notwithstanding anything to the contrary contained herein, $100.00 of the Exxxxxx Money is earned by Seller in consideration of the rights granted to Buyer under Section 6 hereof and s...
Exxxxxx Money. (a) On the date hereof, the Buyer shall deposit with the Title Company, as escrow agent (in such capacity, “Escrow Agent”), cash in an amount equal to $2,000,000 (together with all accrued interest thereon, the “Exxxxxx Money”) in immediately available funds by wire to such account as Escrow Agent shall designate to the Buyer. The Exxxxxx Money shall be nonrefundable to the Buyer except as otherwise expressly provided in this Agreement. If the Exxxxxx Money is not deposited by the Buyer by 5:00 p.m. (New York Time) on the date of this Agreement, the Seller shall have the right, in the Seller’s sole and absolute discretion, upon written notice to the Buyer delivered prior to the Buyer’s deposit of the Exxxxxx Money with the Title Company, to terminate this Agreement whereupon neither party hereto shall have any further rights or obligations hereunder except for those that expressly survive the termination of this Agreement.
(b) Upon delivery by the Buyer to Escrow Agent and upon receipt of an executed form W-9, the Exxxxxx Money will be deposited by Escrow Agent in an interest-bearing account acceptable to the Buyer and the Seller and shall be held in escrow in accordance with the provisions of Section 14.5. All interest earned on the Exxxxxx Money while held by Escrow Agent shall be paid to the party to whom the Exxxxxx Money is paid, except that if the Closing occurs, the Buyer shall receive a credit for such interest in accordance with subsection 2.2(a).
