Additional Xxxxxxx Money. Buyer shall not conduct any Authorized Activities prior to Closing unless and until Buyer has delivered as additional xxxxxxx money a sum equal to 10% of the purchase price due under the Purchase Agreement (the “Additional Xxxxxxx Money”), in addition to the xxxxxxx money otherwise required under the Purchase Agreement. The Additional Xxxxxxx Money shall be delivered to the same escrow agent holding the xxxxxxx money otherwise delivered pursuant to the Purchase Agreement, to be held and disbursed pursuant to the same terms and conditions that apply to the xxxxxxx money under the terms of the Purchase Agreement.
Additional Xxxxxxx Money. In the event Purchaser does not terminate this Agreement prior to the Financing Date, Purchaser shall deposit the additional sum of Twenty-Five Thousand Dollars ($25,000) with Escrow Agent as Additional Xxxxxxx Money. The Additional Xxxxxxx Money shall be held along with the Xxxxxxx Money Deposit and shall collectively be referred to as the “Xxxxxxx Money”.”
Additional Xxxxxxx Money. Buyer shall have the right to extend the Inspection Period for an additional thirty (30) days as set forth in Article 4.1 below. Should Buyer exercise such right, within three (3) days after such exercise, Buyer shall deposit an additional Ten Thousand Dollars and No Cents ($10,000.00) in escrow as additional xxxxxxx money with the Title Company, as escrow agent, such that, after such deposit, the Xxxxxxx Money shall consist of One Hundred Ten Thousand Dollars and No Cents ($110,000.00). The escrow deposit is refundable during the extended Inspection Period and otherwise as provided in this Agreement. The balance of the purchase price for the Property shall be payable at closing by certified funds or wire transfer.
Additional Xxxxxxx Money. Commencing on such date 60 days from the closing and funding of the Asset Purchase Agreement and continuing each consecutive month thereafter until the Closing (as hereinafter defined), Purchaser shall deliver as additional xxxxxxx money ("Additional Xxxxxxx Money") to the Title Company each month the amount of Two Hundred Thousand and No/100 Dollars ($200,000.00) in cash or immediately available funds until not later than the Closing. Any and all Additional Xxxxxxx Money delivered to the Title Company shall be immediately non-refundable. If this transaction closes, all Additional Xxxxxxx Money delivered hereunder shall be credited against the Purchase Price at Closing. In the event that Purchaser does not deliver any portion of the Additional Xxxxxxx Money to Seller as set forth herein and such failure to deliver continues for a period of five (5) business days thereafter, then this Agreement may be terminated by either party as its sole remedy for such failure, and no party shall thereafter have any further obligation to the other hereunder.
Additional Xxxxxxx Money. If Purchaser fails to give the termination notice contemplated by Section 1.04(c) hereof prior to the expiration of the Examination Period, then Purchaser shall deposit an additional Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) (“Second Deposit”) with the Escrow Agent no later than three (3) business days following the last day of the Examination Period (such date, the “Second Deposit Date”), and that amount shall be added to and considered a part of the Xxxxxxx Money for all purposes hereunder. If Purchaser fails to give the termination notice and subsequently fails to deposit the Second Deposit by the Second Deposit Date, such failure shall be deemed a Purchaser default hereunder.
Additional Xxxxxxx Money. If the Initial Xxxxxxx Money is less than ten percent (10%) of the Total Purchase Price, the Purchaser shall make an Additional Xxxxxxx Money payment, the amount of which, when taken together with the Initial Xxxxxxx Money shall equal ten percent (10%) of the Total Purchase Price ("Additional Xxxxxxx Money"). The Additional Xxxxxxx Money shall be payable by cashier’s check and made payable to the order of and delivered to Escrow Agent not less than five business days after execution of this Agreement.
Additional Xxxxxxx Money. Section 2.3(b) of the Agreement is hereby deleted in its entirety and replaced with the following new Section 2.3(b):
(b) The parties acknowledge that, Purchaser has deposited Fifty Thousand and No/100 Dollars ($50,000.00 U.S.) of the Additional Xxxxxxx Money with Escrow Agent. Thereafter, on or before the Financing Contingency Date (as hereinafter defined), in the event Purchaser elects not to terminate this Agreement pursuant to Section 6.1(d), Purchaser shall deposit the remaining portion of the Additional Xxxxxxx Money with Escrow Agent. The parties hereto mutually acknowledge and agree that time is of the essence in respect of Purchaser's timely deposit of the remaining portion of the Additional Xxxxxxx Money with Escrow Agent on or before the Financing Contingency Date; and that if Purchaser elects not to terminate this Agreement on or prior to the Financing Contingency Date and fails to deposit the remaining portion of the Additional Xxxxxxx Money with Escrow Agent on or prior to the Financing Contingency Date, Seller may elect to terminate this Agreement by providing written notice to Purchaser and Escrow Agent, and Escrow Agent shall deliver the Initial Xxxxxxx Money and the first installment of the Additional Xxxxxxx Money Deposit deposited by Purchaser in connection with the First Amendment to Seller, and neither party hereto shall have any further rights or obligations hereunder, except those provisions of this Agreement which by their express terms survive the termination of this Agreement."
Additional Xxxxxxx Money. Within three (3) business days of the Effective Date of this Third Amendment, Buyer shall deposit an additional $25,000 of Xxxxxxx Money with the Escrow Agent. The collective Xxxxxxx Money in the amount of $100,000 shall be nonrefundable except in the event of a Seller default.
Additional Xxxxxxx Money. In the event that Purchaser waives or satisfies the condition precedent in Subsection 15.1.1 hereof, then Purchaser shall deposit with Escrow Agent One Million and No/100 Dollars ($1,000,000) (the “Additional Xxxxxxx Money”) within one (1) business day after the Examination Date. In the event that Purchaser fails to so deposit any such sum with Escrow Agent on or before the required date, and such failure shall not be cured within one (1) business day after the effective date of written notice of such failure by Seller to Purchaser, then Seller shall be entitled to terminate this Agreement, whereupon the Xxxxxxx Money shall be paid over to Seller and thereafter the parties hereto shall have no further rights, duties or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof. At and in the event of the Closing, Escrow Agent shall tender the Xxxxxxx Money to Seller on the Closing Date and the Xxxxxxx Money so delivered to Seller shall be applied and credited against the Purchase Price, as provided in Section 3.2 hereof.
Additional Xxxxxxx Money. If the Initial Xxxxxxx Money is less than 10% of the Purchase Price as stated in above Paragraph, the Purchaser shall be required to make an Additional Xxxxxxx Money, the amount of which, when taken together with the Initial Xxxxxxx Money, shall equal ten (10%) percent of the Total Purchase Price. The sum of the Initial Xxxxxxx Money and the Additional Xxxxxxx Money shall be referred to as the "Total Xxxxxxx Money." The Additional Xxxxxxx Money is payable a) by Purchaser's personal check if paid at the time of Purchaser's execution of this Agreement, subject to collection, or, b) by certified or cashier's check from a bank, made payable to the order of “xxx Title, as business days following Seller’s acceptance of this Agreement. The aggregate of the Initial Xxxxxxx Money and Additional Xxxxxxx Money shall constitute the total Xxxxxxx Money shall be held by the Escrow Agent in a non-interest bearing account unless requested otherwise in writing by Purchaser.
