Xxxxxxx Money definition

Xxxxxxx Money shall have the meaning assigned thereto in Section 2.3.

Xxxxxxx Money means Five Hundred Thousand Dollars ($500,000.00). The Xxxxxxx Money shall be delivered to Escrow Agent within three (3) business days after the Effective Date. The Xxxxxxx 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.

Xxxxxxx Money. Shall have the meaning given to it in Section 3.01(a).

Examples of Xxxxxxx Money in a sentence

• Escrow Agent shall be entitled to file an interpleader action in the event of dispute regarding the disposition of the Xxxxxxx Money (and, upon such interplead, Escrow Agent shall be entitled to recover its court costs and attorney’s fees (paid from the Xxxxxxx Money so interplead).

• In the event this Agreement is terminated, as provided in this Agreement, absent of default, any Xxxxxxx Money shall be returned to the Buyer in full within business days with all parties being relieved of their obligations as set forth herein.

• Notwithstanding any termination of this Agreement, the Parties agree that in the event of any controversy regarding the release of the Xxxxxxx Money that the matter shall be submitted to mediation as provided in Section 23.

• If such default is not corrected within five (5) days thereafter, then, at the option of the Seller, Seller may terminate said Contract and shall be entitled to retain the Xxxxxxx Money paid hereunder as liquidated damages, and Seller may also seek specific performance and any other remedy provided by law or equity against the Buyer.

• If Seller does not or cannot remedy any such defect(s), Buyer shall have the option of canceling this Agreement, in which case the Xxxxxxx Money shall be returned to Buyer.

More Definitions of Xxxxxxx Money

Xxxxxxx Money means the Initial Xxxxxxx Money, together with any Additional Xxxxxxx Money actually paid by Purchaser to Escrow Agent hereunder, and together with all interest which accrues thereon as provided in Section 2.3(c) hereof and in the Escrow Agreement.

Xxxxxxx Money has the meaning specified in Section 2.2.

Xxxxxxx Money shall have the meaning assigned thereto in Section 2.3. “Effective Time” shall have the meaning assigned thereto in Article X.

Xxxxxxx Money is defined in Section 3.3.

Xxxxxxx Money means the sum of Two Hundred Fifty Thousand and NO/100 Dollars ($250,000.00), together with all interest accrued thereon.

Xxxxxxx Money shall have the meaning set forth in Section 2.1 hereof.

Xxxxxxx Money means, at the time in question, the amounts then deposited with Escrow Agent in respect of the Deposit, together with all interest and any other amounts earned thereon.