Common use of Performance Deposit Clause in Contracts

Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29, 1996, Buyer shall tender to Seller, by wire transfer, a performance deposit in the amount of One Hundred Thirty Eight Thousand and 00/100 Dollars ($138,000.00). The performance deposit is received solely to assure the performance of Buyer pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer at Closing upon consummation of the transaction, or at Buyer's election, may be credited to the Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer fails, refuses, or is unable to close the sale in accordance with the terms herein, Seller, except as otherwise herein specifically provided, may, at its option, retain the performance deposit as agreed liquidated damages and not as a penalty. If Seller, through no fault of Buyer, refuses to close the sale in accordance with the terms herein, the performance deposit shall be returned to Buyer.

Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29September 13, 1996, Buyer shall tender to SellerBank One, Texas, N.A. ("ESCROW AGENT", as provided for in Exhibit D hereto), by wire transfer, a performance deposit in the amount of One Four Hundred Thirty Eight Twenty Seven Thousand and 00/100 Dollars Seven Hundred Fourteen DOLLARS ($138,000.00427,714.00). The performance deposit is received solely to assure the performance of Buyer pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer at Closing Closing, upon consummation of the transaction, or at Buyer's election, may be credited to the Preliminary Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer fails, refuses, or is unable to close the sale in accordance with the terms herein, Seller, except as otherwise herein specifically provided, may, at its option, retain the performance deposit as agreed liquidated damages and not as a penalty. If Seller, through no fault of Buyer, refuses to close the sale in accordance with the terms herein, the performance deposit shall be returned to Buyer.

Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29September 13, 1996, Buyer shall tender to Seller, by wire transfer, a performance deposit in the amount of One Hundred Thirty Eight Fifty Six Thousand and 00/100 Dollars Ninety Six DOLLARS ($138,000.0056,096.00). The performance deposit is received solely to assure the performance of Buyer pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer at Closing Closing, upon consummation of the transaction, or at Buyer's election, may be credited to the Preliminary Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer fails, refuses, or is unable to close the sale in accordance with the terms herein, Seller, except as otherwise herein specifically provided, may, at its option, retain the performance deposit as agreed liquidated damages and not as a penalty. If Seller, through no fault of Buyer, refuses to close the sale in accordance with the terms herein, the performance deposit shall be returned to Buyer.

Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29August 15, 1996, Buyer BUYER shall tender to SellerBank One, Texas, N.A. ("Escrow Agent", as provided for in Exhibit "C" hereto), by wire transfer, a performance deposit in the amount of One Hundred Thirty Eight Fifteen Thousand and 00/100 Dollars ($138,000.0015,000.00). The performance deposit is received solely to assure the performance of Buyer BUYER pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer BUYER at Closing upon consummation of the transaction, or at Buyer's BUYER'S election, may be credited to the Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer BUYER fails, refuses, or is unable to close the sale in accordance with the terms herein, SellerSELLER, except as otherwise herein specifically provided, may, at its option, retain the performance deposit as agreed liquidated damages and not as a penalty. If SellerSELLER, through no fault of BuyerBUYER, refuses to close the sale in accordance with the terms herein, the performance deposit shall be returned to BuyerBUYER.

Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29September 13, 1996, Buyer shall tender to SellerBank One, Texas, N.A. ("ESCROW AGENT", as provided for in Exhibit D hereto), by wire transfer, a performance deposit in the amount of One Hundred Thirty Ninety Eight Thousand and 00/100 Dollars Nine Hundred Forty Three DOLLARS ($138,000.0098,943.00). The performance deposit is received solely to assure the performance of Buyer pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer at Closing Closing, upon consummation of the transaction, or at Buyer's election, may be credited to the Preliminary Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer fails, refuses, or is unable to close the sale in accordance with the terms herein, Seller, except as otherwise herein specifically provided, may, at its option, retain the performance deposit as agreed liquidated damages and not as a penalty. If Seller, through no fault of Buyer, refuses to close the sale in accordance with the terms herein, the performance deposit shall be returned to Buyer.

Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29August 20, 1996, Buyer BUYER shall tender to SellerSELLER, by wire transfer, a performance deposit in the amount of One Forty Four Thousand Four Hundred Thirty Eight Thousand Forty Four and 00/100 40/100 Dollars ($138,000.0044,444.40). The performance deposit is received solely to assure the performance of Buyer BUYER pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer BUYER at Closing upon consummation of the transaction, or at Buyer's BUYER'S election, may be credited to the Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer BUYER fails, refuses, or is unable to close the sale in accordance with the terms herein, SellerSELLER, except as otherwise herein specifically provided, may, at its option, retain the performance deposit as agreed liquidated damages and not as a penalty. If SellerSELLER, through no fault of BuyerBUYER, refuses to close the sale in accordance with the terms herein, the performance deposit shall be returned to BuyerBUYER.

Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29August 23, 1996, Buyer BUYER shall tender to SellerSELLER, by wire transfer, a performance deposit in the amount of One Hundred Thirty Eight Twenty Thousand and 00/100 Dollars ($138,000.0020,000.00). The performance deposit is received solely to assure the performance of Buyer BUYER pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer BUYER at Closing upon consummation of the transaction, or at Buyer's BUYER'S election, may be credited to the Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer BUYER fails, refuses, or is unable to close the sale in accordance with the terms herein, Sellerby October 1, 1996, SELLER, except as otherwise herein specifically provided, may, at its option, shall retain Five Thousand and 00/100 Dollars ($5,000.00) of the performance deposit as agreed liquidated damages and not as a penalty. If SellerSELLER, through no fault of BuyerBUYER, refuses to close the sale in accordance with the terms herein, the balance of the performance deposit shall be returned to BuyerBUYER.