Exxxxxx Money. Buyer shall, within two business days after the Effective Date, deposit with the Escrow Company, as escrow agent, the sum of $250,000, as exxxxxx money (said amount being referred to herein as the “Initial Exxxxxx Money”, and, together with (i) the “Additional Exxxxxx Money” deposit described below, and (ii) the Extension Deposit (as defined in Section 4.1 below), and all interest accruing thereon, being herein referred to collectively as the “Exxxxxx Money”), which shall be in the form of a wire transfer of immediately available funds. Provided that Buyer has not terminated this Agreement pursuant to Section 3.2 below, within two business days after the Due Diligence Expiration Date, Buyer shall increase the Exxxxxx Money to $400,000 by depositing with the Escrow Company an additional $150,000 by wire transfer of immediately available funds (the “Additional Exxxxxx Money”). Upon expiration of the Due Diligence Period, all of the Exxxxxx Money shall become fully non-refundable and payable to Seller, except as otherwise expressly provided herein. The Exxxxxx Money shall be held and disbursed by the Escrow Company pursuant to the escrow agreement in the form of Exhibit J attached hereto (the "Escrow Agreement"), which the parties have executed and delivered simultaneously with the execution and delivery of this Agreement. The Exxxxxx Money shall be invested as provided in said Escrow Agreement, with all interest accruing thereon being deemed part of the Exxxxxx Money for all purposes hereunder. In the event Buyer fails to deliver any portion of the Exxxxxx Money within the time provided in this Agreement, Seller may, prior to Buyer’s deposit of such portion of the Exxxxxx Money with the Escrow Company, at Seller’s option and without limiting any of its other rights or remedies, terminate this Agreement by written notice to Buyer, whereupon any portion of the Exxxxxx Money previously delivered to Escrow Company shall be immediately delivered to Seller, this Agreement shall terminate, and the parties hereto shall have no further obligations to the other except for the Termination Surviving Obligations. If the sale hereunder is consummated in accordance with the terms hereof, the Exxxxxx Money shall be paid to Seller and applied to the Purchase Price to be paid by Buyer at the Closing. In all other instances, the Exxxxxx Money shall be paid to Seller or Buyer as provided in other provisions of this Agreement.
Exxxxxx Money. Within five (5) business days after an election has been made or deemed made under Section 15.1(c), the acquiring Member shall deposit with a mutually acceptable third-party escrow agent a non-refundable exxxxxx money deposit in the amount of two percent (2%) of the amount the selling Member is entitled to receive for its Interest under this Section 15.1, which amount shall be applied to the purchase price at closing. If the acquiring Member should thereafter fail to consummate the transaction for any reason other than a default by the selling Member or a refusal by any lender of the Company (or any Subsidiary of the Company) who has a right under its loan documents to consent to such transfer to so consent, (i) (A) the exxxxxx money deposit shall be distributed from escrow to the selling Member, free of all claims of the acquiring Member, as liquidated damages and constituting the sole and exclusive remedy available to the selling Member because of a default by the acquiring Member or (B) the selling Member may, by delivering to the acquiring Member written notice thereof, elect to buy the acquiring Member’s entire Interest for an amount equal to the amount the acquiring Member would have been entitled to receive if the Company had sold all of its assets for the Valuation Amount and the Company had immediately paid all Company liabilities and Imputed Closing Costs and distributed the net proceeds of the sale to the Members in satisfaction of their Interests pursuant to Section 13.3, in which case, the Closing Date therefor shall be the date specified in the selling Member’s notice, and (ii) if the acquiring Member was the Offeror, the non-refundable exxxxxx money deposit for any future election by the acquiring Member to buy the selling Member’s Interest shall be twenty percent (20%) of the amount the selling Member is entitled to receive for its Interest in connection with such future election.
Exxxxxx Money. Within one (1) business day following the Effective Date, Purchaser will deliver to the Escrow Agent the sum of TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($200,000.00) (the “First Deposit”). Within one (1) business day following the expiration of the Study Period, assuming Purchaser has not previously elected to terminate this Agreement, Purchaser shall deliver to the Escrow Agent the additional sum of TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($200,000.00) (the “Second Deposit”) (the First Deposit and the Second Deposit, if any, and all interest earned thereon are hereinafter collectively referred to as the “Exxxxxx Money”). The Exxxxxx Money shall be invested by the Escrow Agent in short term interest bearing accounts at banks or other financial institutions, which accounts must be insured by the Federal Deposit Insurance Corporation. All interest earned on such deposits shall belong to the party (as between Seller and Purchaser) who is entitled to receive the Exxxxxx Money under the applicable provisions of this Agreement. In the event the transactions contemplated herein are not closed in accordance with the provisions hereof, the Exxxxxx Money shall be disbursed to either Seller or Purchaser as provided in this Agreement.
Exxxxxx Money. Within 3 business days after receipt of a fully executed copy of this Agreement, Purchaser shall deposit the Initial Exxxxxx Money with the Escrow Agent. Within 3 business days after expiration of the Due Diligence Period, if this Agreement has not theretofore been terminated or deemed terminated, Seller will deposit the Additional Exxxxxx Money with Escrow Agent. The Exxxxxx Money shall be applied to the Purchase Price at Closing. If this Agreement terminates pursuant to any express right of Purchaser or Seller to terminate this Agreement other than as a result of Seller’s default, the Exxxxxx Money shall be refunded to Purchaser immediately upon request, and all further rights and obligations of the parties under this Agreement shall terminate. The Exxxxxx Money shall be held and disbursed by the Escrow Agent pursuant to Article 9 of this Agreement.
Exxxxxx Money. $1,000,000.00, including interest thereon, to be deposited in accordance with Section 3.1 below.
Exxxxxx Money. 1. When signing the contract, Party B shall pay exxxxxx money to Party A, the amount is RMB 113501.40 Yuan. About Party B paying exxxxxx money stipulated in the contract, it is the condition for this contract coming into effect.
Exxxxxx Money. (a) Within the three (3) business days of the Effective Date, Purchaser shall deposit the Initial Exxxxxx Money to Escrow Agent by federal wire transfer payable to Escrow Agent, which Initial Exxxxxx Money shall be held and released by Escrow Agent in accordance with the terms of this Agreement.
Exxxxxx Money. (a) On the date hereof, the Buyer shall deposit with the Title Company, as escrow agent (in such capacity, “Escrow Agent”), cash in an amount equal to $2,800,000 (together with all accrued interest thereon, the “Exxxxxx Money”) in immediately available funds by wire to such account as Escrow Agent shall designate to the Buyer. The Exxxxxx Money shall be nonrefundable to the Buyer except as otherwise expressly provided in this Agreement. If the Exxxxxx Money is not deposited by the Buyer by 5:00 p.m. (New York Time) on the date of this Agreement, the Seller shall have the right, in the Seller’s sole and absolute discretion, upon written notice to the Buyer delivered prior to the Buyer’s deposit of the Exxxxxx Money with the Title Company, to terminate this Agreement whereupon neither party hereto shall have any further rights or obligations hereunder except for those that expressly survive the termination of this Agreement.
Exxxxxx Money. In order to secure Purchaser’s performance of this Agreement, Purchaser shall, within two (2) business days after the Effective Date of this Agreement, deposit FOUR MILLION AND NO/100 DOLLARS ($4,000,000.00) in cash or other readily available funds with Heritage Title Insurance Company of Austin, Inc., (the “Title Company”) at its offices at 400 Xxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxx, Xxxxx 00000, Attn: Axx Xxxxxx. All cash deposited with the Title Company pursuant to the terms hereof is referred to herein collectively as the “Exxxxxx Money.” The Exxxxxx Money will be placed in an interest bearing account at one or more state or federally chartered banks while under the control of the Title Company, and all interest earned thereon will become part of the Exxxxxx Money hereunder. Purchaser will promptly execute and deliver to the Title Company all documents and certificates as are required by Title Company to invest the Exxxxxx Money in an interest bearing account. If the transaction contemplated hereby is consummated in accordance with the terms and provisions hereof, the Exxxxxx Money shall be applied against the Purchase Price at Closing. If the transaction is not so consummated, the Exxxxxx Money shall be held and delivered by the Title Company as hereinafter provided. Upon the expiration of the “SDP Contingency Period” (defined in Section 4.03.A), the Exxxxxx Money will only be refundable to Purchaser upon a Seller Default or upon any specific termination right of Purchaser that expressly provides for the refund of the Exxxxxx Money to Purchaser and, otherwise, will be delivered to Seller as and when provided under the provisions of this Agreement.
Exxxxxx Money. Within one (1) business day of the full execution and delivery of this Agreement, Purchaser will depositing with Chicago Title Insurance Company (the "Title Company"), having its office at 2000 Xxxxx Xxxxxx, Suite 800, Dallas, Texas, Attention: Exxxx Xxxxxx (the "Escrow Agent"), the sum of FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00) (the "First Deposit") in good funds, by federal wire transfer of immediately available funds. If Purchaser does not exercise the right to terminate this Agreement prior to the expiration of the Inspection Period in accordance with Sections 2.4, 3.3, 6.2, 7.2 or 7.3 hereof, Purchaser will, on or before the last date of the Inspection Period (as such term is defined in Section 3.1 hereof), deposit with the Escrow Agent the additional sum of FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00) (the "Second Deposit") in good funds, by federal wire transfer of immediately available funds as an additional deposit under this Agreement. The Escrow Agent shall hold the First Deposit and the Second Deposit in an interest-bearing account in accordance with the terms and conditions of this Agreement. The First Deposit and the Second Deposit, together with all interest earned on such sums, are herein referred to collectively as the "Exxxxxx Money." All interest accruing on such sums shall become a part of the Exxxxxx Money and shall be distributed as Exxxxxx Money in accordance with the terms of this Agreement. If Purchaser fails to deliver the Second Deposit to the Escrow Agent within the time period specified above, then Seller may terminate this Agreement, whereupon Escrow Agent shall deliver the Exxxxxx Money to Seller promptly thereafter, and neither party shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. Time is of the essence for the delivery of Exxxxxx Money under this Agreement. Following the expiration of the Inspection Period, the Exxxxxx Money shall become non-refundable to Purchaser unless otherwise expressly set forth in this Agreement.
