Common use of Second Deposit Clause in Contracts

Second Deposit. Not later than 5:00 p.m. on the third (3rd) business day following the day that Buyer receives a fully executed counterpart of this Agreement from Seller, Buyer shall deposit with Escrow Holder an additional Seventy Thousand and no/100ths Dollars ($70,000) in immediately available funds (the "Second Deposit"). The Initial Deposit and Second Deposit are collectively hereinafter referred to as the "Deposit".

Appears in 3 contracts

Sources: Purchase and Sale Agreement (Capital Builders Development Properties Ii), Purchase and Sale Agreement (Capital Builders Development Properties Ii), Purchase and Sale Agreement (Capital Builders Development Properties Ii)