Common use of Second Deposit Clause in Contracts

Second Deposit. In the event Buyer timely delivers to Seller Buyer’s Election Not to Terminate this Agreement pursuant to Section 4.3 hereof, within one (1) Business Day after the expiration of the Investigation Period, Buyer shall deposit with Escrow Holder an additional deposit in the sum of Fifty Thousand Dollars ($50,000.00) (the “Second Deposit”), in the form of Cash. Buyer may direct Escrow Holder to invest the Second Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California designated by Buyer and approved by Escrow Holder. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Second Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Second Deposit shall be applied as a credit towards the payment of the Purchase Price; and (iii) all interest that accrues on the Second Deposit while in Escrow Holder’s control shall belong to Buyer. The Initial Deposit and Second Deposit are collectively referred to herein as the “Deposit.” All references in this Agreement to the “Deposit” shall mean the Deposit and any and all interest that accrues thereon while in Escrow Holder’s control.

Second Deposit. In the event Buyer timely delivers to Seller Buyer’s Election Not to Terminate this Agreement pursuant to Section 4.3 hereof, within one (1) Business Day after the expiration of the Investigation Period, Buyer shall deposit with Escrow Holder an additional deposit in the sum of Fifty One Hundred Thousand Dollars ($50,000.00100,000.00) (the “Second Deposit”), in the form of Cash. Buyer may direct Escrow Holder to invest the Second Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California designated by Buyer and approved by Escrow Holder. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Second Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Second Deposit shall be applied as a credit towards the payment of the Purchase Price; and (iii) all interest that accrues on the Second Deposit while in Escrow Holder’s control shall belong to Buyer. The Initial Deposit and Second Deposit are collectively referred to herein as the “Deposit.” All references in this Agreement to the “Deposit” shall mean the Deposit and any and all interest that accrues thereon while in Escrow Holder’s control.

Second Deposit. In the event Buyer timely delivers to Seller Buyer’s Election Not to Terminate this Agreement pursuant to Section 4.3 hereof, within one two (12) Business Day Days after the expiration date of the Investigation Perioddelivery to Seller of Buyer’s Election Not to Terminate pursuant to Section 4.3 hereof, Buyer shall deposit with Escrow Holder Holder, in the form of Cash, an additional deposit in the sum amount of Fifty One Million Five Hundred Thousand Dollars ($50,000.001,500,000.00) (the “Second Deposit”), in the form of Cash. Buyer may direct Escrow Holder Agent to invest the Second Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California California, designated by Buyer and approved by Escrow HolderAgent. Subject to the applicable termination and default provisions contained in this Agreement: (ix) the Second Deposit shall remain in Escrow prior to the Closing; (iiy) upon the Closing, the Second Deposit shall be applied as a credit towards the payment of the Purchase Price; and (iiiz) all interest that accrues on the Second Deposit while in Escrow HolderAgent’s control shall belong to Buyer. The Initial Deposit and Second Deposit are collectively referred to herein as the “Deposit.” All references in this Agreement to the “Deposit” shall mean the Deposit and any and all interest that accrues thereon while in Escrow HolderAgent’s control.

Second Deposit. In the event Buyer timely delivers to Seller Buyer’s Election Not to Terminate this Agreement pursuant to Section 4.3 hereof, within one (1) Business Day after the expiration of the Investigation Period, Buyer shall deposit with Escrow Holder an additional deposit in the sum of Fifty One Hundred Thousand Dollars ($50,000.00100,000.00) (the “Second Deposit”), in the form of Cash. Buyer may direct Escrow Holder to invest the Second Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California designated by Buyer and approved by Escrow Holder. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Second Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Second Deposit shall be applied as a credit towards the payment of the Cash Purchase Price; and (iii) all interest that accrues on the Second Deposit while in Escrow Holder’s control shall belong to Buyer. The Initial Deposit and Second Deposit are collectively referred to herein as the “Deposit.” All references in this Agreement to the “Deposit” shall mean the Deposit and any and all interest that accrues thereon while in Escrow Holder’s control.