Buyer’s Xxxxxxx Money Deposit Sample Clauses

Buyer’s Xxxxxxx Money Deposit. On or prior to the date which is three (3) business days after the Effective Date, Buyer shall deliver the sum of TWO HUNDRED TWENTY-TWO THOUSAND DOLLARS AND NO CENTS ($222,000.00) in immediately available funds (the "Initial Xxxxxxx Money Deposit") to Fidelity National Title Insurance Company, with an address of 000 Xxxxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx, XX 00000, Attn: Xxx Xxxxxxx ("Escrow Agent" or "Title Insurer"). On or prior to the Approval Date (as defined in Section 2.5.3 hereof), Buyer shall 2 have the right to terminate this Agreement in accordance with Section 2.5.3, in which case the Initial Xxxxxxx Money Deposit (except for the Independent Consideration) shall be returned to Buyer and the parties shall have no further obligations hereunder except as otherwise provided herein. In the event that Buyer does not terminate this Agreement pursuant to the terms of Section 2.5.3, on or prior to the Approval Date Buyer shall deliver the additional sum of FOUR HUNDRED FORTY-FOUR THOUSAND DOLLARS AND NO CENTS ($444,000.00) in immediately available funds (the "Additional Xxxxxxx Money Deposit") to Escrow Agent and the transaction contemplated by this Agreement shall proceed in accordance with the terms hereof. In the event the closing of the transaction described in the Waterstone Purchase Agreement (as defined in Section 8.3 hereof) occurs prior to the Closing Date hereunder, if such has not previously been delivered, Buyer shall cause the Third Xxxxxxx Money Deposit (as defined in this Section 1.1 below) to be delivered to Escrow Agent not later than the date of closing under the Waterstone Purchase Agreement. In the event i) Buyer has not previously delivered the Third Xxxxxxx Money Deposit, and ii) Buyer elects to exercise its Post-Lender Approval Closing Extension (as defined in Section 2.4.1 hereof), Buyer shall deliver the Third Xxxxxxx Money Deposit to Escrow Agent in accordance with the provisions of Section 2.4.1 hereof. The “Third Xxxxxxx Money Deposit” means immediately available funds in an amount sufficient to cause the total Xxxxxxx Money Deposit to equal ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,200,000). Upon delivery, the Third Xxxxxxx Money Deposit shall become part of the Xxxxxxx Money Deposit and be non-refundable to Buyer except as expressly provided herein. The Initial Xxxxxxx Money Deposit, the Additional Xxxxxxx Money Deposit and the Third Xxxxxxx Money Deposit (if delivered), together with all interest accrued thereon, less t...

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Buyer’s Xxxxxxx Money Deposit. On or prior to the date which is two (2) business days after the Effective Date, Buyer shall deliver the sum of FIVE HUNDRED THOUSAND F:\71018.005\Purchase Agreement\Purchase Agreement – Xxxxxx Village v8.doc DOLLARS ($500,000.00) in immediately available funds (the "Initial Xxxxxxx Money Deposit") to Madison Title Agency, LLC, National Title Services, 0000 Xxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxxxx 00000, Attention: Xxxxxx Xxxxxxx ("Escrow Agent" or "Title Insurer"). Upon delivery of the Initial Xxxxxxx Money, TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00) (the “Non-Refundable Portion”) of the Initial Xxxxxxx Money Deposit shall be deemed non-refundable except in connection with (a) a default by Seller under this Agreement, (b) the termination of this Agreement in connection with a casualty or condemnation pursuant to Section 2.7 of this Agreement, (c) the election of Buyer to terminate this Agreement pursuant to Section 2.6.3 as evidenced by written notice to Seller delivered with respect to any Objectionable Title Matter or Mandatory Cure Item; provided, however, that with respect to any such termination that permits Buyer to obtain a refund of the Non-Refundable Portion, any such Objectionable Title Matter must involve either (1) a matter that will, in Buyer’s reasonable discretion, have a material effect on the Buyer’s ownership, use, financing or operation of the Property or the value of the Property or (2) a matter that has been objected to by Buyer’s lender, (d) the termination of this Agreement as a result of a failed condition set forth in Article 4 of this Agreement and (e) the termination of this Agreement as evidenced by written notice to Seller delivered as a result of any environmental condition affecting the Property which, in Buyer’s or Buyer’s acquisition lender’s sole discretion, affects the Buyer’s ownership, use, financing or operation of the Property (each, a “Full Refund Event”). On or prior to the Approval Date (as hereinafter defined in Section 2.5.3), Buyer shall have the right to terminate this Agreement in accordance with Section 2.5.3, in which case the Xxxxxxx Money Deposit shall be returned to Buyer (subject to deduction of the Non-Refundable Portion which shall be paid to the Seller unless Buyer’s election to terminate arises out of one or more of the Full Refund Events) and the parties shall have no further obligations hereunder except as otherwise provided herein. In the event that Buyer does not terminate this Agreement pursuan...

Buyer’s Xxxxxxx Money Deposit. On or prior to the date which is three (3) business days after the Effective Date, Buyer shall deliver the sum of THREE HUNDRED THOUSAND FIVE HUNDRED DOLLARS AND NO CENTS ($300,500.00) in immediately available funds (the "Initial Xxxxxxx Money Deposit") to Fidelity National Title Insurance Company, with an address of 000 Xxxxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx, XX 00000, Attn: Xxx Xxxxxxx ("Escrow Agent" or "Title Insurer"). On or prior to the Approval Date (as defined in Section 2.5.3 hereof), Buyer shall have the right to terminate this Agreement in accordance with Section 2.5.3, in which case the Initial Xxxxxxx Money Deposit (except for the Independent Consideration) shall be returned to Buyer and the parties shall have no further obligations hereunder except as otherwise provided herein. In the event that Buyer does not terminate this Agreement pursuant to the terms of

Buyer’s Xxxxxxx Money Deposit. Unless otherwise agreed to by Seller, prospective purchasers are required to advance Xxxxxxx Money equal to five percent (5%) of the purchase price or $2,500, whichever is greater. Upon execution of the purchase and sale agreement by all parties, funds deposited by any prospective purchasers as “xxxxxxx money” or “binder deposit” will be held by Seller’s title company in escrow and shall be disbursed only upon instruction of Seller, Colliers, or as required by law. Funds held in escrow by Seller’s title company in excess of Ten Thousand Dollars ($10,000.00) will be transferred to Seller upon execution of the purchase and sale agreement. In the event of a default by the prospective purchaser, the amount of the Xxxxxxx Money shall be forfeited and retained by Seller. If, through no fault of the prospective purchaser, the Sale cannot be completed, Seller shall refund the entire amount of the xxxxxxx money deposit to the prospective purchaser following the receipt by Seller of a properly completed Form W- 9.

Related to Buyer’s Xxxxxxx Money Deposit

Xxxxxxx Money Deposit (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”
Escrow Deposit Concurrently with the execution and delivery of this Agreement, the Holder will deliver [the sum of ____________________ Dollars ($_____________) 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.
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 the Escrow Agent does not receive a notice of objection as set forth above, it shall pay the Earnest Money, plus ixxxxxxx which has accrued thereon, to the party requesting payment of same. In the event the Escrow Agent shall have received the notice of objection provided for above and within the time therein prescribed, the Escrow Agent shall continue to hold the Earnest Money until (i) xxx Xscrow Agent receives written notice from Owner and Highwoods directing the disbursement of said Earnest Money, in whicx xxxx the Escrow Agent shall then disburse said Earnest Money in accoxxxxxx with said direction; or (ii) in the event of litigation between Owner and Highwoods, the Escrow Agent shall deliver the Earnest Money to the Clexx xx xhe Court in which said litigation is pending; or (iii) the Escrow Agent takes such affirmative steps as the Escrow Agent may, in the Escrow Agent's reasonable opinion, elect in order to terminate the Escrow Agent's duties, including but not limited to, deposit in the Court of appropriate jurisdiction in connection with an action for interpleader, the costs thereof to be borne by whichever of Owner or Highwoods is the losing party. The Escrow Agent may act upon any instrument or other writing believed by it in good faith to be genuine and to be signed and presented by the proper person, and shall not be liable in connection with the performance of any duties imposed upon the Escrow Agent by the provisions of this Agreement, except for the Escrow Agent's own negligence or willful default. The Escrow Agent shall have no duties or responsibilities except those set forth herein. The Escrow Agent shall not be bound by any modification of this Agreement, unless the same is in writing and signed by Highwoods and Owner, and, if the Escrow Agent's duties hereunder are affected, unless Escrow Agent shall have given prior written consent thereto. In the event that the Escrow Agent shall be uncertain as to the Escrow Agent's duties or rights hereunder, or shall receive instructions from Highwoods or Owner which, in the Escrow Agent's opinion, are in conflict with any of the provisions hereof, the Escrow Agent shall be entitled to hold and apply the Earnest Money pursuant tx xxx xreceding paragraph and may decline to take any other action. The Escrow Agent shall not charge a fee for its services as escrow agent. Upon the execution hereof, the Escrow Agent agrees to be bound by all of the terms and conditions set forth in this Section 3.
Purchase Price Deposit (a) The purchase price for the Property is AND 00/100 DOLLARS ($ ) (the “Purchase Price”), payable as follows:
Cash at Closing At Closing, Purchaser shall pay to Seller, by wire transferred current federal funds, an amount equal to the Purchase Price, minus the sum of the Xxxxxxx Money which Seller receives at Closing from the Escrowee, and plus or minus, as the case may require, the closing prorations and adjustments to be made pursuant to Section 4(C) below.
Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.
Delivery at Closing At the Closing, the Company will deliver to the Purchaser a stock certificate registered in the Purchaser’s name, representing the number of Shares to be purchased by Purchaser hereunder, against payment of the purchase price therefore as indicated above.
Payment at Closing The Borrower shall have paid (A) to the Administrative Agent, the Arrangers and the Lenders the fees set forth or referenced in Section 4.3 and any other accrued and unpaid fees or commissions due hereunder, (B) all reasonable fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent accrued and unpaid prior to or on the Closing Date, plus such additional amounts of such reasonable fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent) and (C) to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes, fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan Documents.