Exxxxxx Money definition

Exxxxxx Money means Four Million Dollars ($4,000,000.00). 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 of Closing, or disbursed as agreed upon in accordance with the terms of this Agreement. Sellers and Buyer each shall pay one-half of all reasonable escrow fees charged by Escrow Agent.

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

Buyer shall, within five (5) Business Days of execution hereof, deliver the Exxxxxx Money to the Escrow Agent by wire transfer in immediately available funds pursuant to the Escrow Agreement.
In such event, Seller’s retention of the Exxxxxx Money shall constitute liquidated damages for any loss suffered by Seller and Buyer shall have no further liability to Seller of any kind or character (except as provided under Section 7.01 or Section 7.02).
The consideration for the purchase, sale and assignment of the Assets by Seller to Buyer is Buyer’s payment to Seller of the sum of [*****] ($[*****]) (the “Purchase Price”), as adjusted pursuant to Section 9.02 and less the Exxxxxx Money (together, with any withholdings at Closing with respect to the Exxxxxx Money due to any Defect Withholding, the “Adjusted Purchase Price”).
As of the Closing, the amount of the Exxxxxx Money delivered at Closing shall be credited as part of the Purchase Price to Seller in accordance with this Agreement and, subject to any withholdings of the Exxxxxx Money permitted by and in accordance with Section 5.04, the Parties shall jointly instruct the Escrow Agent to disburse and deliver to Seller the 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 shall have the meaning set forth in Section 4.2.