Examples of Due Diligence Payment in a sentence
At the Closing of Seller’s Purchase Options, Seller agrees to pay toward Purchasers attorney’s fees the sum of $60,000.00 which amount Purchaser agrees to reimburse Seller on the date of Closing this Agreement or on the date DP pays the Due Diligence Payment referred to in the Exchange Agreement, whichever date occurs first.
On or before the second anniversary of the Effective Date, IVNE shall pay $6,250,000.00 (collectively with the Initial Payment, the Due Diligence Payment, and the First Payment, the “ Option Payments”).
Notwithstanding anything contained in this Agreement to the contrary Seller’s agreement to trade the Subject Property for the Exchange Property is expressly conditioned upon Seller receiving Seller’s aforesaid share of the Due Diligence Payment.
On or before the second anniversary of the Effective Date, IVNE shall pay collectively with the Initial Payment, the Due Diligence Payment, and the First Payment, the “ Option Payments”.
The Due Diligence Payment shall be fully earned by Seller, nonrefundable to Purchaser and shall be paid over upon demand to Seller by the Escrow Agent upon any termination of this Agreement unless this Agreement is terminated by Purchaser in accordance with Section 9.1(c) or (e) hereof, in which case the Due Diligence Payment shall be returned to Purchaser.
In order to reimburse IRE for due diligence costs incurred and to be incurred by IRE with respect to the DP Property and the IRE Property, DP shall pay to IRE a total of $630,000.00 (the "Due Diligence Payment") at Closing.
In the event a grant is received as a result of IRE causing such a grant to be obtained which reduces the amounts to be paid by DP under this Agreement, in addition to all other amounts to be paid by DP hereunder, one-half of any savings to DP by reason of either the City of Xxxxxxxx or the County of Xxxx receiving any such grant shall be added to the Due Diligence Payment payable by DP under Section 5 of this Agreement.
Both Seller and Purchaser shall instruct the Escrow Agent with respect to distribution of the Due Diligence Payment consistent with and in accordance with the terms of this Agreement.
On the Closing Date, the escrow Agent shall deliver the Due Diligence Payment to Seller.
At Closing the Due Diligence Payment shall be paid over to Seller by the Escrow Agent and applied and credited against the Purchase Price.