Earnest Money. Upon the xxxxxxxon of this Agreement, Highwoods will deliver to Investors Title Insurance Company (hereinafter referred to as the "Escrow Agent") the sum of One Hundred Thousand and no/100 Dollars ($100,000.00) (hereinafter the "Earnest Money"). The Exxxxxx Money shall be dxxxxxxxd by the Escrow Agent into an interest bearing account at the direction of Highwoods, and shall be paid to Owner or Highwoods according to the provisions set forth below. Upon Closing, the Escrow Agent shall deliver all Earnest Money, plus inxxxxxx which has accrued thereon, to Highwoods. In the event the transaction contemplated by this Agreement is not closed solely because of any default on the part of Owner, or if any of the conditions precedent set forth in Section 8.01 fail to be satisfied at Closing, or if Highwoods terminates its obligations set forth herein pursuant to any other provision of this Agreement, then the Escrow Agent shall pay to Highwoods all Earnest Money, including xxxxxxst which has accrued thereon, but such return shall not affect any other remedies available to Highwoods in the event of a breach of this Agreement by Owner. In the event the transaction contemplated by this Agreement is not closed solely because of any default on the part of Highwoods, then the Escrow Agent shall pay to Owner all Earnest Money, including xxxxxxst which has accrued thereon, and such payment, when added to the $1,900,000.00 payment due from Highwoods to Owner (in the event of Highwoods' default hereunder) pursuant to Section 15 hereof, shall be and represent liquidated damages arising out of Highwoods' default, which liquidated damages shall be the full extent of Highwoods' liability with respect to such default and Owner shall have no further right or claim against Highwoods. Upon the filing of a written demand for the Earnest Money by Highwooxx xx Xwner, pursuant to this Section 3, the Escrow Agent shall promptly mail a copy thereof to the other party. The other party shall have the right to object to the delivery of the Earnest Money by filing xxxxxxx notice of such objection with the Escrow Agent such that it is actually received by the Escrow Agent at any time within ten (10) days after the mailing by the Escrow Agent of such copy to it, but not thereafter. Such notice shall set forth the basis for objecting to the delivery of the Earnest Money. Upon rexxxxx xf such notice, the Escrow Agent shall promptly mail a copy thereof to the party who filed the written demand. If...
Earnest Money. 3.0 Xxxn execution of this Contract, Purchaser shall deposit with American Title Company located at 4950 Westgrove, Suite 000, Xxxxxx, Xxxxx 00000, xx xxx xxxxxxxxx xx Ann Sutton (hereinaftxx xxxxxxxd to as the "Title Company"), cash in the amount of $25,000.00 (the "Initial Deposit") to assure prompt observance of this Contract by Purchaser.
Earnest Money. Within twx (0) xusiness days after the Effective Date, Buyer shall deliver to the party designated by Seller at the address to be supplied by Seller, at Ticor Title Insurance Company, Syracuse, NY ("Title Company") a check or wire transfer in the amount of $200,000.00, which the Title Company shall immediately deposit for collection in an interest bearing account or accounts bearing interest at not less than the daily passbook rate. Interest shall accrue on the sum of $75,000 of such Earnest Money at the grexxxx xf (i) the daily passbook rate on depository accounts at the financial institution used by the Title Company or (ii) the rate of interest actually accruing on such amount. Interest on the balance of the Earnest Money for the perxxx xxxween the end of the Inspection Period and Closing shall be deemed to accrue at the rate of 2.78% per annum. If, for any reason this Agreement is terminated prior to the expiration of the Inspection Period, then the Earnest Money and any inxxxxxx accrued thereon shall be immediately returned to Buyer. If this Purchase and Sale Agreement is not so terminated, and the transaction contemplated hereby proceeds to Closing, the Earnest Money shall be pxxx xx Seller at Closing and Buyer shall receive a credit against the purchase price payable hereunder in the amount of the Earnest Money plus interxxx xxxrued or deemed to have accrued thereon at the rates set forth above. As used in this Agreement, the term "Earnest Money" shall mexx xxx amount deposited by Buyer, together with all interest accrued thereon or deemed to have accrued thereon, as provided above.
Earnest Money. (a) On the Effective Date (defined in XXXXXXX 9.14), as a condition to the continued effectiveness of this Contract, Buyer shall deposit with Marble Title Company, L.L.C. (TITLE COMPANY), as agent for Chicago Title Insurance Company (CLOSING AGENT), 2001 Bryan Street, Suite 1700, Dallas, Texas 75201, Xxxxxxxxx: Kerri A. Majors, Phone: (214) 965-1672, Fax: (214) 000-0000, $000,000 in (x) xxxxxxxxxxx available federal xxnds or (ii) the form of an unconditional and irrevocable letter of credit in favor of Seller and Closing Agent on terms and from an issuer reasonably acceptable to Seller (a LETTER OF CREDIT) (the EARNEST MONEY).
Earnest Money. 2.01 Puxxxxxxx shall pay Twenty Five Thousand and No/100 Dollars ($25,000.00) to Seller upon Purchaser's execution and delivery of this Agreement, which amount shall be held by Seller as earnest money (hereinafter referred xx xx "EARNEST MONEY") and shall be appliex xxxxxst the Purchase Price as provided for in Paragraph 3.00 hereof, or otherwise disbursed or retained by Seller in accordance herewith.
Earnest Money. Puxxxxxxx shall deposit with Capdevielle Title Corporation (the Title Agent"), as escrow agent and agent for the Title Company, as defined below, the sum of Twenty Five Thousand and 00/100 Dollars ($25,000.00), as earnest money, contemxxxxxxxusly with the execution of this Agreement by Purchaser, to be held in Title Agent's interest bearing trust account (with interest accruing to the benefit of the Purchaser) and to be credited against the Purchase Price at Closing (said earnest money, and xxx and all interest accrued thereon, hereinafter collectively called the "Deposit"). Purchaser acknowledges and agrees that the Deposit is nonrefundable except to the extent provided in paragraph 6(c).
Earnest Money. No later than one (1) business day after the last day ox xxx Xnspection Period (hereinafter defined), Purchaser shall deposit with the Escrow Agent the sum of Two Hundred Thousand Dollars ($200,000) (the "Earnest Money") in good funds, by federal wire transfer. The Escrow Agxxx xxxll hold the Earnest Money in an interest-bearing account in accordance with the texxx xxx conditions of this Agreement. All interest accruing on such sum shall become a part of the Earnest Money and shall be distributed as Earnest Money in accordance xxxx xxe terms of this Agreement.
Earnest Money. 3 Amount of Consideration for Contribution of Property to Highwoods.................................................4
Earnest Money. A. Not later than 3 days after the effectivx xxxx, Buyer must deposit $ see spec . pron. p . 8 as earnest money with TARVER ABSTRACT CO. (title company and xxxxxx agent) at LXXXXXX, Tx_______________________ (title company's address). Buyer will deposit additional earnest money of $ N/A on or before: [_] (i) the N/A day xxxxx Xuyer's right to terminate under Paragraph 7B(3) expires; or [_] (ii) N/A. The title company is the escrow agent under this contract.
Earnest Money. On the Effective Date, Purchaser will deposit One Thouxxxx Xxllars ($1,000) (the "Earnest Money") with JOYCE, MERIDETH, FLITCROFT & NORMAN TITLE COMPANX (xxx "Escrow Agent"), located at 30 Xxxxxxxx Avexxx, Xakridge, Tennessee 32830, to be held in trust on xxx xxxxx xxxxxx xxx xxxxx xxx xxx xxxxxx xxnefit of the parties hereto. The Earnest Money shall be refunded to the Purchaser if Purchaser decides, xxx xny reason, to not proceed with the purchase of the Property at any time prior to the expiration of the Feasibility Period (as defined herein). At the Closing the Earnest Money shall be applied to the Purchase Price. As used in this Xxxxxxent, the term "Refund" shall mean the Earnest Money, with interest, shall be returned to Purchaser except fxx xxx $100, which Title Company shall deliver to Seller as consideration for Seller's entering into this Agreement.
