Common use of Second Deposit Clause in Contracts

Second Deposit. Within five (5) business days following the execution of this Escrow Agreement, Escrow Agent shall receive a second deposit in the amount of One Million Seven Hundred Seventy-Five Thousand and No/100 Dollars ($1,775,000) (the “Second Deposit”) and together with the Initial Deposit, the total amount held by Escrow Agent in connection with the acquisition of the Hotel shall be Three Million Five Hundred Fifty Thousand and No/100 Dollars ($3,550,000) and such amounts, together with all accrued interest thereon, shall hereafter be defined as the “▇▇▇▇▇▇▇ Money Deposit.”

Second Deposit. Within five (5) business days following the execution of this Escrow Agreement, Escrow Agent shall receive a second deposit in the amount of One Million Seven Hundred Seventy-Five Thousand and No/100 Dollars ($1,775,000) (the “Second Deposit”) and together with the Initial Deposit, the total amount held by Escrow Agent in connection with the acquisition of the Hotel shall be Three Million Five Hundred Fifty Thousand and No/100 Dollars ($3,550,000) and such amounts, together with all accrued interest thereon, shall hereafter be defined as the “▇▇▇▇▇▇▇ Money Deposit.”” 4.