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

• Notwithstanding anything to the contrary in this Agreement, upon written request of Seller, Holder shall disburse to Seller for Seller’s own use any Xxxxxxx Money and any Upgrade Deposit which collectively exceed one percent (1%) of the Total Purchase Price prior to Closing subject to the following terms and conditions: Seller shall have commenced the construction of improvements prior to any request for disbursements.

• Should Buyer default hereunder, the Xxxxxxx Money shall be forfeited as the exclusive remedy and damages to Seller.

• If Closing is estimated to be held within ten (10) business days following the Binding Agreement Date, the Xxxxxxx Money and any Upgrade Deposit must be either in the form of a cashiers’ check or wire transfer of federal funds, so that all deposits will be cleared by the time of Closing.

• In the event the escrow agreement between Seller and Holder is otherwise terminated, Seller shall appoint a replacement to act as Holder to hold and disburse the Xxxxxxx Money and any Upgrade Deposit as contemplated in this Agreement.

• The Xxxxxxx Money shall be consideration for Seller reserving the Unit for Purchaser and Seller agreeing not to sell the Unit to anyone other than Purchaser prior to the date set for Closing in Section 4 hereof.

More Definitions of Xxxxxxx Money

Xxxxxxx Money has the meaning specified in Section 2.2.

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 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 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.

Xxxxxxx Money means, the Initial Deposit, the Additional Deposit and the Extension Deposit, if applicable, all together with all accrued interest thereon.