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

• If for any reason the Closing does not occur, the Title Insurer shall deliver the Xxxxxxx Money to Seller or Buyer only upon receipt of a written demand therefor from such party, subject to the following provisions of this Section 8(b).

• Notwithstanding the foregoing provisions of this Section 8(b), if Xxxxx delivers a notice to Title Insurer on or prior to the expiration of the Due Diligence Period that Buyer has terminated this Agreement, then Title Insurer shall immediately return the Xxxxxxx Money to Buyer without the necessity of delivering any notice to, or receiving any notice from Seller.

• Subject to the last sentence of this Section 8(b), if for any reason the Closing does not occur and either party makes a written demand (the “Demand”) upon the Title Insurer for payment of the Xxxxxxx Money, the Title Insurer shall give written notice to the other party of the Demand within one (1) Business Day after receipt of the Demand.

• The Title Insurer has executed this Agreement in the place indicated on the signature page hereof in order to confirm that the Title Insurer has received and shall hold the Xxxxxxx Money in escrow, and shall disburse the Xxxxxxx Money pursuant to the provisions of this Section 8.

• If the Closing occurs, the Title Insurer shall deliver the Xxxxxxx Money to, or upon the instructions of, Xxxxxx and Buyer upon the Closing.

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 1.12.

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.