Earnest Money means Five Hundred Thousand Dollars ($500,000.00). The Earnest Money shall be delivered to Escrow Agent within three (3) business days after the Effective Date. The Earnest Money shall be deposited by Buyer in escrow with Escrow Agent, to be applied as part payment of the Purchase Price at the time the sale is closed, or disbursed as agreed upon in accordance with the terms of this Agreement. Seller and Buyer each shall pay one-half of all reasonable escrow fees charged by Escrow Agent.
Earnest Money Deposit (EMD) means Bid Security/ monetary or financial guarantee to be furnished by a tenderer along with its tender.
Earnest Money Deposit (EMD) means the refundable amount to be submitted by the Bidder along with RFP documents to NMRC
Earnest Money Escrow Agreement has the meaning set forth in Section 1(c) above.
Escrow Deposit shall have the meaning set forth in Section 2.2(a).
Promissory Note means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds.
Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.
Escrowed Amount set forth in Section 4(b)(i)(iv) above, if the Employee's employment hereunder is terminated without Cause prior to 11:59 p.m. on March 31, 2013, the term “Escrowed Amount” shall mean the Profit Sharing Payment due with respect to the Old Sargon Portfolio (which shall be calculated as of the time of such termination in the same manner that was contemplated under Section 5 of the Prior Agreement), without taking into account any Hypothetical Return (which amount shall not be deposited into the Escrow Account but rather delivered to the Employee in the same manner that was contemplated under Section 5 of the Prior Agreement). 2 The parties agree that the following illustrative examples shall govern the calculation of the Hypothetical Return (assuming a 1-year Term for simplicity): (i) If the New Sargon Portfolio achieves a 10% gross return on $3 billion of capital for $300 million of profit, the Hurdle would be $120 million and the Second Profit Sharing Payment due to the Co-Managers collectively from the Employer and High River would be 15% of $180 million, or $27 million - so the Hypothetical Return that would be applied to the escrowed funds would be: ($300 million - $120 million - $27 million = $153 million) / $3 billion = 5.1% (i.e., if the escrowed funds were $5 million, such amount would be increased by $255,000); (ii) if Sargon achieves a 4% gross return, no Second Profit Sharing Payment would be due and the Hypothetical Return would be flat (i.e., the $5 million of escrowed funds would not be increased or decreased); (iii) if Sargon achieves a 0% gross return, no Second Profit Sharing Payment would be due and the Hypothetical Return would be negative 4.0% (i.e., the $5 million of escrowed funds would be reduced by $200,000 to $4.8 million); and (iv) if Sargon achieves a 10% loss, no Second Profit Sharing Payment would be due and the Hypothetical Return would be negative 14.0% (i.e., the $5 million of escrowed funds would be reduced by $700,000 to $4.3 million).
Escrowed Payment means an aggregate cash payment of up to $400,000;
Purchase Price Adjustment Escrow Amount means $500,000.
Deposit Escrow Agreement shall have the meaning set forth in Section 2.2(a).
Retained Interest Safekeeping Account An account maintained by the Certificate Administrator, which account shall be deemed to be owned by the Holders of the RR Interest in proportions equal to their respective Percentage Interests.
Special deposit claim means a claim secured by a deposit made pursuant to statute for the security or benefit of a limited class or classes of persons, but not including a claim secured by general assets.
Prepayment Consideration shall have the meaning set forth in Section 2.3.1.
Assumed Interest Rate means the annual yield payable on the last day of the applicable Calculation Period on ten (10) year United States Treasury obligations in amounts approximating the outstanding principal balance of the Loan on the last day of the Calculation Period plus two hundred fifty (250) basis points per annum; provided, however, that the Assumed Interest Rate shall be not less than six percent (6.0%) per annum.
Escrowed Funds Has the meaning, with respect to any Trust, specified in Section 2.02(b).
Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Roth Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.
Indemnity Escrow Agreement has the meaning set forth in Section 2.14(b)(iv).
Assumed Interest Amount With respect to any Distribution Date and Class of Subordinated Certificates, one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class on the applicable Assumed Balance immediately prior to that Distribution Date.
Escrow Holder means the bank or trust company designated as such pursuant to Section 9 hereof.
Cash Purchase Price has the meaning set forth in Section 2.1(b).
Escrow Cash is defined in Section 4.1(a).
Escrow Payment Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items in respect of the related Mortgaged Property, including amounts for deposit to any reserve account.
Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.
the Purchase Price means the price to be paid by the Buyer to the Seller for the purchase of the Property;
Retained Interest Rate Not applicable.