Initial Xxxxxxx Money Deposit. The initial xxxxxxx money deposit(s) paid by Buyer pursuant to the Section entitled “Consideration,” in the amount(s) of Two Hundred Thousand and No/100ths Dollars ($200,000.00).
Initial Xxxxxxx Money Deposit. Within one (1) business day after the execution of this Agreement, Purchaser shall deposit in the form of cash the sum of FIFTY THOUSAND and 00/100 Dollars ($50,000.00) (together with interest earned thereon, the “Initial Xxxxxxx Money”) with the escrow department of First American Title Insurance Company, a California corporation, at 0000 Xxxxxxx Xxxxx Xxxx, 000 Xxxxxxxx Xxxx, Xxxxxxxxxxx, XX 00000, attn: Xxxxxx Xxxx (“Title Company”) pursuant to an escrow agreement in the form of Exhibit F attached hereto and made a part hereof (the “Escrow Agreement”).
Initial Xxxxxxx Money Deposit. Concurrent with execution and submittal of this Agreement to Seller, Purchaser shall pay to Land Title Guarantee Company an initial xxxxxxx money deposit in the amount of Nine Thousand Dollars ($9,000.00) and the Reservation Deposit of One Thousand Dollars ($1,000.00) shall be released to Seller from reservation escrow for a total initial xxxxxxx money deposit of Ten Thousand Dollars ($10,000.00) (the “Initial Xxxxxxx Money”). Purchaser understands and agrees the Initial Xxxxxxx Money (other than the Reservation Deposit, which is paid directly to Seller) is to be paid to the Title Company for tracking purposes only and that the Initial Xxxxxxx Money shall not be held in escrow by the Title Company but shall, following the Title Company’s receipt of the Initial Xxxxxxx Money and without the necessity of any further action by the parties, be released to Seller for the direct benefit of the Project as described in Section 4.c below. Notwithstanding the foregoing and as described in the Reservation Agreement, the Reservation Deposit is to be applied under only the first purchase agreement for a unit in the Project submitted by Purchaser and, if this Agreement is for a second unit in the Project, Purchaser shall pay the full Initial Xxxxxxx Money Deposit of Ten Thousand Dollars ($10,000.00).
Initial Xxxxxxx Money Deposit. No later than three (3) Business Days following the Effective Date, Developer shall deposit Fifty Thousand Dollars ($50,000.00) with Escrow Agent (the “Initial Xxxxxxx Money Deposit”). The Initial Xxxxxxx Money Deposit together with the Additional Xxxxxxx Money Deposit and any other additional deposits provided for herein, together with all interest and earnings on all such amounts, shall be referred to herein as the “Xxxxxxx Money Deposit”. The Xxxxxxx Money Deposit shall be held in a segregated “money market” account pursuant to an escrow agreement consistent with the terms hereof and otherwise reasonably acceptable to City and Developer. The Xxxxxxx Money Deposit shall be applied to the Purchase Price if the Closing occurs. In the event that the Closing does not occur by the Closing Date, the Xxxxxxx Money Deposit shall be disbursed as provided herein. If Developer fails to timely deliver the Initial Xxxxxxx Money Deposit to the Escrow Agent, this Agreement shall, at City’s election, terminate, in which case, except for City’s Surviving Obligations and Developer’s Surviving Obligations, City and Developer shall have no further obligations or liabilities to each other hereunder.
Initial Xxxxxxx Money Deposit. The xxxxxxx money deposit(s) paid by Buyer within two (2) business days after the Effective Date pursuant to the Section entitled "Consideration", in the amount of Five Million Dollars ($5,000,000).
Initial Xxxxxxx Money Deposit. Within one (1) business day of full execution of this Agreement, Purchaser shall deliver an xxxxxxx money deposit of One Hundred Thousand and no/100 Dollars ($100,000.00) (“Xxxxxxx Money Deposit”) to Xxxxxx Riverside Alliance, 0000 Xxxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxx, Xxx Xxxx 00000, (the “Title Company”), to be held in escrow with the Title Company in accordance with is Agreement and deposited in a non-interest bearing account acceptable to the Purchaser. Except as otherwise expressly set forth in this Agreement, the Xxxxxxx Money Deposit shall be nonrefundable to Purchaser.
Initial Xxxxxxx Money Deposit. Within five (5) business days after the Execution Date, Purchaser shall deposit the sum of One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) with Escrow Agent (the “Initial Xxxxxxx Money Deposit”).
Initial Xxxxxxx Money Deposit. BUYER upon acceptance of this contract by Seller will deliver within three (3)business/banking days thereafter to NAI NASHVILLE ("Broker" and “Escrow Agent”) the sum of Thirty Thousand Dollars and no cents ($30,000.00) as a non-refundable xxxxxxx money deposit (the “Initial Deposit”) on account of the purchase price hereunder. Broker shall deposit said check in a separate escrow account. All checks representing deposits for which Broker receives shall be deposited in Broker's escrow account prior to closing and shall be subject to clearance. Accrued interest shall accrue in favor of Buyer, and shall be applied toward the Purchase price, unless Buyer cancels this contract or fails to Close within 60 days of the date of this Contract (“First 60 Days”), in which event the Initial Deposit and any accrued interest is forfeited to Seller.
Initial Xxxxxxx Money Deposit. Within five (5) business days after the Effective Date, Buyer shall deliver to the Escrow Agent (as defined in Section 7(a)) the sum of Five Hundred Thousand Dollars ($500,000.00) (the "Initial Xxxxxxx Money"). A portion of the Initial Xxxxxxx Money in the amount of One Hundred Thousand Dollars ($100,000.00) shall be nonrefundable (the “Nonrefundable Initial Xxxxxxx Money Portion”). The remaining portion of the Initial Xxxxxxx Money in the amount of Four Hundred Thousand Dollars ($400,000.00) is herein referred to as the "Refundable Initial Xxxxxxx Money Portion". Seller shall have the option of terminating this Agreement if the full amount of the Initial Xxxxxxx Money is not delivered to the Escrow Agent as and when prescribed by this Section 3(a). COMMERCIAL & INVESTMENT REAL ESTATE PURCHASE & SALES AGREEMENT (CONTINUED)
Initial Xxxxxxx Money Deposit. Upon full execution of this Agreement by all parties hereto, Buyer shall deposit with Escrow Agent by wire transfer of immediately available funds, the Initial Xxxxxxx Money Deposit hereunder, to be held and disbursed in accordance with the terms hereof.
