Exxxxxx Money means $2,000,000, together with any interest accrued thereon. The Exxxxxx Money shall be delivered to Escrow Agent within three (3) business days after the Effective Date. The Exxxxxx 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 otherwise disbursed in accordance with the terms of this Agreement.
Exxxxxx Money shall have the meaning ascribed to such term in Section 2.3.
Exxxxxx Money shall have the meaning assigned thereto in subsection 2.3(a).
Examples of Exxxxxx Money in a sentence
The Exxxxxx Money shall be applied to the Purchase Price at Closing.
Such request shall also constitute a request for the release of the Exxxxxx Money to the Terminating Party.
If this Agreement is terminated due to the default of a party, then the defaulting party shall pay any fees due to the Escrow Agent for holding the Exxxxxx Money and any fees due to the Title Company for cancellation of the Title Commitment.
If the Closing under this Agreement occurs, the Escrow Agent shall deliver the Exxxxxx Money to, or upon the instructions of, Purchaser on the Closing Date.
The Non-Terminating Party shall then have five business days in which to object in writing to the release of the Exxxxxx Money to the Terminating Party.
More Definitions of Exxxxxx Money
Exxxxxx Money as used herein means the Initial Exxxxxx Money and the Additional Exxxxxx Money, if applicable. Until the date that a Party is entitled to receive the Exxxxxx Money pursuant to the terms hereof, the Title Company will hold the Exxxxxx Money in a federally insured interest-bearing account and the Exxxxxx Money shall include all interest earned thereon. The Title Company shall immediately deliver [***]of the Initial Exxxxxx Money to the Seller as independent consideration for this Agreement (the “Independent Consideration”).
Exxxxxx Money means the Initial Exxxxxx Money, together with any Additional Exxxxxx Money and any Second Additional Exxxxxx Money actually paid by Purchaser (or which Purchaser is obligated to pay) to Escrow Agent hereunder, and together with all interest which accrues thereon as provided in Section 2.3(c) hereof.
Exxxxxx Money shall have the meaning set forth in Section 2.1 hereof.
Exxxxxx Money means any form of exxxxxx money supporting a Lot Sale Contract including, without limitation, any cash on deposit or letters of credit that may be deposited with a title company, released to Borrower, or held by any other Person.
Exxxxxx Money means the Initial Exxxxxx Money, together with all interest which accrues thereon as provided in Section 2.2(b) hereof and in the Escrow Agreement.
Exxxxxx Money means the amount deposited pursuant to Section 4(b) hereof.
Exxxxxx Money. As defined in Section 3.1.