Common use of Initial Deposit Clause in Contracts

Initial Deposit. Within three (3) Business Days following the Effective Date, Buyer shall deposit into Escrow the sum of Three Hundred Thousand Dollars ($300,000.00), in the form of Cash, which amount shall serve as an xxxxxxx money deposit (“Initial Deposit”). Buyer may direct Escrow Agent to invest the Initial Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California, designated by Buyer and approved by Escrow Agent. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Initial Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Initial Deposit shall be paid to Seller and applied as a credit towards the payment of the Purchase Price; and (iii) all interest that accrues on the Initial Deposit while in Escrow Agent’s control shall belong to Buyer. Buyer shall complete, execute and deliver to Escrow Agent a W-9 Form, stating Buyer’s taxpayer identification number at the time of delivery of the Initial Deposit. All references in this Agreement to the “Initial Deposit” shall mean the Initial Deposit and any and all interest that accrues thereon while in Escrow Agent’s control. Escrow Agent shall promptly notify Seller of its receipt of the Initial Deposit from Buyer.

Initial Deposit. Within three (3) Business Days following the Effective Date, Buyer shall deposit into Escrow the sum of Three Two Hundred Fifty Thousand Dollars ($300,000.00250,000.00), in the form of Cash, which amount shall serve as an xxxxxxx money deposit (“Initial Deposit”). Buyer may direct Escrow Agent Holder to invest the Initial Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California, California designated by Buyer and approved by Escrow AgentHolder. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Initial Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Initial Deposit shall be paid to Seller and applied as a credit towards the payment of the Purchase Price; and (iii) all interest that accrues on the Initial Deposit while in Escrow AgentHolder’s control shall belong to Buyer. Buyer shall complete, execute and deliver to Escrow Agent Holder a W-9 Form, stating Buyer’s taxpayer identification number at the time of delivery of the Initial Deposit. All references in this Agreement to the “Initial Deposit” shall mean the Initial Deposit and any and all interest that accrues thereon while in Escrow AgentHolder’s control. Escrow Agent shall promptly notify Seller of its receipt of the Initial Deposit from Buyer.

Initial Deposit. Within three (3) Business Days following the Effective Date, Buyer shall deposit into Escrow the sum of Three One Hundred Fifty Thousand Dollars ($300,000.00150,000.00) (the “Initial Deposit”), in the form of Cash, which amount shall serve as an xxxxxxx money deposit (“Initial Deposit”)deposit. Buyer may direct Escrow Agent to invest the Initial Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California, designated by Buyer and approved by Escrow Agent. Subject to the applicable termination and default provisions contained in this Agreement: (ix) the Initial Deposit shall remain in Escrow prior to the Closing; (iiy) upon the Closing, the Initial Deposit shall be paid to Seller and applied as a credit towards the payment of the Cash Purchase Price; and (iiiz) all interest that accrues on the Initial Deposit while in Escrow Agent’s control shall belong to Buyer. Buyer shall complete, execute and deliver to Escrow Agent a W-9 Form, stating Buyer’s taxpayer identification number at the time of delivery of the Initial Deposit. All references in this Agreement , as a condition to the “Initial Deposit” shall mean Escrow Agent investing the Initial Deposit and any and all in an interest that accrues thereon while in Escrow Agent’s control. Escrow Agent shall promptly notify Seller of its receipt of the Initial Deposit from Buyerbearing account.

Initial Deposit. Within three (3) Business Days following the Effective Date, Buyer shall deposit into Escrow the sum of Three One Hundred Thousand Dollars ($300,000.00100,000.00), in the form of Cash, which amount shall serve as an xxxxxxx money deposit (“Initial Deposit”). Buyer may direct Escrow Agent Holder to invest the Initial Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California, California designated by Buyer and approved by Escrow AgentHolder. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Initial Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Initial Deposit shall be paid to Seller and applied as a credit towards the payment of the Purchase Price; and (iii) all interest that accrues on the Initial Deposit while in Escrow AgentHolder’s control shall belong to Buyer. Buyer shall complete, execute and deliver to Escrow Agent Holder a W-9 Form, stating Buyer’s taxpayer identification number at the time of delivery of the Initial Deposit. All references in this Agreement to the “Initial Deposit” shall mean the Initial Deposit and any and all interest that accrues thereon while in Escrow AgentHolder’s control. Escrow Agent shall promptly notify Seller of its receipt of the Initial Deposit from Buyer.

Initial Deposit. Within three two (32) Business Days following the Effective Dateafter Buyer delivers Buyer’s Election Not to Terminate to Seller, Buyer shall deposit into Escrow the sum of Three Hundred Fifty Thousand Dollars ($300,000.0050,000), in the form of Cash, which amount shall serve as an xxxxxxx money deposit (“Initial Deposit”). Buyer may direct Escrow Agent to invest the Initial Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California, designated by Buyer and approved by Escrow Agent. Buyer agrees that the risk of loss with respect to the Initial Deposit shall be with Buyer according to the terms and conditions of this Agreement. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Initial Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Initial Deposit shall be paid to Seller and applied as a credit towards the payment of the Purchase Price; and (iii) all interest that accrues on the Initial Deposit while in Escrow Agent’s control shall belong to Buyer. Buyer shall complete, execute and deliver to Escrow Agent a W-9 Form, stating Buyer’s taxpayer identification number at the time of delivery of the Initial Deposit. All references in this Agreement to the “Initial Deposit” shall mean the Initial Deposit and any and all interest that accrues thereon while in Escrow Agent’s control. Escrow Agent shall promptly notify Seller of its receipt of the Initial Deposit from Buyer.

Initial Deposit. Within three (3) Business Days following the Effective Date, Buyer shall deposit into Escrow the sum of Three Two Hundred Fifty Thousand Dollars ($300,000.00250,000.00), in the form of Cash, which amount shall serve as an xxxxxxx money deposit (“Initial Deposit”). Buyer may direct Escrow Agent Holder to invest the Initial Deposit in one or more interest bearing accounts with a federally insured state or national bank located in California, California designated by Buyer and approved by Escrow AgentHolder. Subject to the applicable termination and default provisions contained in this Agreement: (i) the Initial Deposit shall remain in Escrow prior to the Closing; (ii) upon the Closing, the Initial Deposit shall be paid to Seller and applied as a credit towards the payment of the Cash Purchase Price; and (iii) all interest that accrues on the Initial Deposit while in Escrow AgentHolder’s control shall belong to Buyer. Buyer shall complete, execute and deliver to Escrow Agent Holder a W-9 Form, stating Buyer’s taxpayer identification number at the time of delivery of the Initial Deposit. All references in this Agreement to the “Initial Deposit” shall mean the Initial Deposit and any and all interest that accrues thereon while in Escrow AgentHolder’s control. Escrow Agent shall promptly notify Seller of its receipt of the Initial Deposit from Buyer.