Exxxxxx Money Sample Clauses

Exxxxxx Money. (i) Within five (5) business days after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of this Agreement.
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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. Within one (1) business day following the Effective Date, Purchaser will deliver to the Escrow Agent the sum of TWO HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($250,000.00) (the “First Deposit”). 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 TWO HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($250,000.00) (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”). 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. $1,000,000.00, including interest thereon, to be deposited in accordance with Section 3.1 below.
Exxxxxx Money. 1. When signing the contract, Party B shall pay exxxxxx money to Party A, the amount is RMB 113501.40 Yuan. About Party B paying exxxxxx money stipulated in the contract, it is the condition for this contract coming into effect.
Exxxxxx Money. (a) Within the three (3) Business Days of the Effective Date, Purchaser shall deposit the Initial Exxxxxx Money with 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.
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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 $2,800,000 (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.
Exxxxxx Money. Within five Business Days after receipt of a fully executed copy of this Agreement, Purchaser shall deposit $50,000 in good funds with the Escrow Agent as an exxxxxx money deposit (the “First Deposit”). If this Agreement is not terminated under Section 2.2(b), Purchaser shall deposit $150,000 in good funds with the Escrow Agent as an additional exxxxxx money deposit (the “Second Deposit”) before the end of the Due Diligence Period. Upon the expiration of the Due Diligence Period, the Exxxxxx Money becomes nonrefundable to Purchaser, except as otherwise expressly set forth in this Agreement. “Exxxxxx Money” means, collectively, the First Deposit, the Second Deposit once made by Purchaser, and each Extension Deposit (defined in Section 2.4(c)) once made by Purchaser, together with interest on such amounts. The Exxxxxx Money shall be applied to the Purchase Price at Closing. If this Agreement terminates prior to the end of the Operating Agreement Period, the Escrow Agent shall refund the Exxxxxx Money to Purchaser immediately upon request, and all further rights and obligations of the parties under this Agreement shall terminate, except those which by their terms survive any termination of this Agreement. Otherwise, the Escrow Agent shall disburse the Exxxxxx Money to Seller upon the Closing or as otherwise set forth in this Agreement upon the earlier termination of this Agreement. The Escrow Agent shall hold and disburse the Exxxxxx Money in accordance with Article 9 of this Agreement.
Exxxxxx Money. The parties acknowledge that Buyer has delivered to Seller the sum of TWO HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($250,000.00) (the “Exxxxxx Money”) as a deposit, which amount shall fully apply to the Purchase Price. In the event Buyer fails to consummate the transaction contemplated by this Agreement without cause, the Exxxxxx Money shall be non-refundable and shall be deemed fair and liquidated damages for such action. Buyer’s failure to obtain the approvals set forth in Sections 3.3(a)(vii), (viii) and (ix) shall not constitute cause.
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