Escrow Deposit. Concurrently with the execution and delivery of this Agreement, the Holder will deliver [the sum of ____________________ Dollars ($_____________) in lawful money of the United States of America by wire transfer of immediately available funds] [and] [[ ] Class A Trust Certificates] [and] [[ ] Class B Trust Certificates] in accordance with Section 14 of the Series Supplement] (the "Escrow Deposit"), to Escrow Agent to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit. Any cash amounts in the Escrow Deposit may be increased or decreased in accordance with the terms of Section 2.02(i)(vi) of the Warrant Agreement and the terms of this agreement will apply with equal force and effect to any such increased or decreased cash amounts in the Escrow Deposit.
Escrow Deposit. Upon the Effective Date, the Company may accept subscriptions for its shares of common stock from qualified investors. The Company and the subscription agreement that it provides to prospective investors shall instruct all subscribers (each a “Subscriber”) to make their checks, bank drafts or money orders for the purchase of such shares payable to the Escrow Agent in trust and to deliver such payment, along with an executed subscription agreement to the Escrow Agent. The Escrow Agent shall deposit all subscription funds received into a non-interest bearing attorney’s trust account in accordance with the requirements of the Florida Bar.
Escrow Deposit an escrow deposit of Ten Percent (10%) of the total contract purchase price (which includes the buyer’s premium) will be wire transferred or hand delivered in the form of certified funds to the Title Company no later than 48 hours following the close of auction. See closing agents contact information below. The balance of the purchase price will be due in full at closing.
Escrow Deposit. Simultaneously with the execution and delivery of this Agreement, Buyer has deposited with the Escrow Agent, cash in the amount of Two Hundred Thousand Dollars ($200,000) (the "Escrow Deposit") in accordance with an Escrow Agreement among Buyer, Seller, and the Escrow Agent in the form of Exhibit C. All funds and documents deposited with or otherwise held by the Escrow Agent shall be held and disbursed in accordance with the terms of the Escrow Agreement and the following provisions:
Escrow Deposit. Concurrently with the execution and delivery of this Agreement, the Holder will deliver the sum of ____________________ Dollars ($_____________) (the "Escrow Deposit") in lawful money of the United States of America by wire transfer of immediately available funds to Escrow Agent, to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit.
Escrow Deposit. 8.01. As security for the obligations of Purchaser and subject to the terms hereof, Purchaser shall cause a letter of credit in the amount of One Hundred Thousand Dollars ($100,000.00) to be issued in favor of Escrow Agent with an expiration date of thirty (30) days past the last possible Closing Date, which letter of credit shall constitute the "Earnxxx Xxxey" hereunder. Said letter of credit will be issued by a national banking association and payable upon presentation in the city where Escrow Agent is located and contain no conditions for payment other than presentation. Upon the execution hereof Purchaser shall deposit the Earnxxx Xxxey with Escrow Agent. At Closing, or in the event Purchaser has the right to and elects to terminate this Contract or allows same to terminate as provided herein, Escrow Agent shall return the Earnxxx Xxxey upon receipt of notice of such termination. If this Contract has not been terminated as aforesaid and if Purchaser then fails to consummate the purchase of the Properties, the conditions of Purchaser's obligations set forth in this Contract having been satisfied and Purchaser being in default, Escrow Agent shall draw upon the Earnxxx Xxxey and convert same to cash and immediately disburse same to Seller and if there is a dispute as to entitlement Escrow Agent shall deposit said One Hundred Thousand Dollars ($ 100,000.00) into an FDIC insured interest bearing money market account and shall hold said sum, in trust, pending resolution of the dispute and subject to the terms and conditions set forth on the attached EXHIBIT "F". Notwithstanding anything in this Contract to the contrary, if Escrow Agent receives notice of termination from Purchaser or Purchaser's attorneys, Gottxxxx & Xmitx, X.A., prior to the end of the Inspection Period, Escrow Agent shall be and is hereby directed by Seller to return the Earnxxx Xxxey to Purchaser.
Escrow Deposit. Contemporaneously with the execution of this Agreement, Purchaser has delivered to the Escrow Agent the Signing Deposit and Seller has delivered to the Escrow Agent the Binder (collectively, the "Escrow Deposit") to be held by the Escrow Agent pursuant to the Escrow Agreement.
Escrow Deposit. (i) At the Effective Time of the Merger, Parent will cause to be delivered to the law offices of Xxxxxx X. Xxxx, as escrow agent (the "Escrow Agent") the Merger Consideration Escrow Deposit and the Parent Escrow Deposit to be held pursuant to the Escrow Agreement attached thereto as Exhibit A (The "Escrow Agreement").
Escrow Deposit. Within three (3) business days after Purchaser’s receipt of a fully executed copy of this Agreement, Purchaser shall deliver an escrow deposit in the amount of One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) (together with any interest thereon, the “Escrow Deposit”) to be held in escrow by the Title Company as Escrow Agent. If Purchaser does not deliver to Seller a written notice of termination of this Agreement prior to the expiration of the Feasibility Period (as defined below), then the Escrow Deposit shall be non-refundable to Purchaser (except as otherwise expressly set forth in this Agreement). Escrow Agent shall place the Escrow Deposit in an interest-bearing account at a financial institution whose accounts are insured by an agency of the federal government. If Purchaser defaults under this Agreement, after giving effect to all applicable notice and cure periods (and Seller is not in default), Seller shall be entitled to receive the Escrow Deposit as liquidated damages as provided in this Agreement and as Seller’s sole and exclusive remedy. If Seller defaults under this Agreement, after giving effect to all applicable notice and cure periods (and Purchaser is not in default), Purchaser shall be entitled to its election of remedies as provided in Section 12(b) hereafter. In the event of any dispute between Seller and Purchaser concerning disbursement of the Escrow Deposit, the Title Company shall be authorized to file an interpleader suit in the District Court of the county in which the applicable Parcel is located, and the disposition of such funds shall be determined in accordance with such proceeding, and the Title Company shall be released of all further liability with respect to such Escrow Deposit; provided, however, in the event Purchaser terminates this Agreement prior to the expiration date of the Feasibility Period and pursuant to Section 5(b) hereof, then, in such event, the Escrow Agent shall be irrevocably required to release the Escrow Deposit to Purchaser in full termination of this Agreement.
Escrow Deposit. Within two (2) business days of the Effective Date, Buyer shall deliver $250,000 (together with all interest thereon, the _xe "\"Escrow Deposit\":"_"Initial Escrow Deposit") to Chicago Title Insurance Company, 100 Xxxx Xxxxxx Xxxxxx, San Jose, California 95110 Attention: Lxxxx Xxxxxx (which company or such other national title insurance company selected by Buyer within two (2) business days of the Effective Date, and reasonably approved by Seller, in its capacity as escrow holder hereunder, is called _xe "\"Escrow Holder\":"_"Escrow Holder"). In addition, if Buyer shall deliver the "Approval Notice" prior to the expiration of the "Due Diligence Period", as provided (and defined) in paragraph 4B hereof, Buyer shall concurrently therewith deliver Buyer's check in the amount of $500,000 (the "Additional Escrow Deposit") to Escrow Holder. The Additional Escrow Deposit shall be in the form of Buyer's check which shall be held uncashed by the Escrow Holder until such time as the Closing occurs or, pursuant to the terms hereof, Seller notifies Escrow Holder and Buyer that Seller believes in its good faith discretion that it is entitled to the Escrow Deposit. The Initial Escrow Deposit to be made hereunder shall be made by a bank or cashier's check drawn on a major national money center banking institution (or by other delivery of good funds reasonably acceptable to Seller), and the amounts so deposited shall be held by Escrow Holder as a deposit against the Purchase Price in accordance with the terms and provisions of this Agreement. The parties hereto hereby acknowledge that the closing of the transactions hereunder (the "Closing") will occur not later than December 30, 1997, and that the parties will reasonably cooperate to most effectively and efficiently cause the delivery of all sums hereunder so as to avoid multiple wires or deliveries of funds hereunder. As used herein, the term "Escrow Deposit" means the Initial Escrow Deposit and, from and after the delivery of good funds, the Additional Escrow Deposit, together with all interest earned on such deposits while the same are held in escrow hereunder. At all times in which the Escrow Deposit is being held by the Escrow Holder, the Escrow Deposit shall be invested by Escrow Holder in the following investments (_xe "\"Approved Investments\":"_"Approved Investments"): (i) United States Treasury obligations, (ii) United States Treasury-backed repurchase agreements issued by a major national money center banking ...
