Common use of Amount and Timing Clause in Contracts

Amount and Timing. Within two (2) Business Days after the Effective Date, Purchaser shall deliver the Exxxxxx Money, in Current Funds, to the Title Company. Seller agrees that the Exxxxxx Money shall be refundable at any time prior to expiration of the Inspection Period if Purchaser elects to terminate this Agreement pursuant to Section 5.3(c) hereof for any reason as determined in Purchaser’s sole and absolute discretion. After the expiration of the Inspection Period, the Exxxxxx Money shall be payable to either Purchaser or Seller in accordance with this Agreement. If Purchaser fails to deposit the Exxxxxx Money with the Title Company on or before two (2) Business Days after the Effective Date, this Agreement and the Other Purchase and Sale Agreements shall be of no force or effect, and neither Seller nor Purchaser shall have any further obligations hereunder or under the Other Purchase and Sale Agreements, except for provisions of this Agreement and the Other Purchase and Sale Agreements which expressly survive the termination hereof and thereof. The Title Company shall invest the Exxxxxx Money promptly upon receipt in government insured interest-bearing accounts satisfactory to and as directed by Purchaser, shall not commingle the Exxxxxx Money with any funds of the Title Company or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.

Amount and Timing. Within two (2) Business Days after the Effective Date, Purchaser shall deliver the Exxxxxx Money, in Current Funds, to the Title Company. Seller agrees that the Exxxxxx Money shall be refundable at any time prior to expiration of the Inspection Period if Purchaser elects to terminate this Agreement pursuant to Section 5.3(c) hereof for any reason as determined in Purchaser’s sole and absolute discretion. After the expiration of the Inspection Period, the Exxxxxx Money shall be payable to either Purchaser or Seller Sellers in accordance with this Agreement. If Purchaser fails to deposit the Exxxxxx Money with the Title Company on or before two (2) Business Days after the Effective Date, this Agreement and the Other Purchase and Sale Agreements shall be of no force or effect, and neither Seller the Sellers nor Purchaser shall have any further obligations hereunder or under the Other Purchase and Sale Agreements, except for provisions of this Agreement and the Other Purchase and Sale Agreements which expressly survive the termination hereof and thereof. The Title Company shall invest the Exxxxxx Money promptly upon receipt in government insured interest-bearing accounts satisfactory to and as directed by Purchaser, shall not commingle the Exxxxxx Money with any funds of the Title Company or others, and shall promptly provide Purchaser and Seller the Sellers with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.

Amount and Timing. Within two EWithin three (2) Business Days 3)Obusiness days after the Effective DateDate (hereinafter defined), Purchaser shall deliver to Chicago Title Insurance Company, located at 7616 LBJ Freeway, Suite 300, Dallxx, Xxxxx 00000 (xxx "Xxxxx Xxxxxxx"), Xxx Xxxxxed Thousand Dollars ($100,000.00) (the Exxxxxx Money, "Initial Deposit") in cash or Current Funds, to be held by the Title CompanyCompany in escrow to be applied or disposed of by the Title Company as is provided in this Contract. Seller agrees that In the Exxxxxx Money shall be refundable at any time prior to expiration of the Inspection Period if Purchaser elects to terminate this Agreement pursuant to Section 5.3(c) hereof for any reason as determined in Purchaser’s sole and absolute discretion. After the expiration of the Inspection Period, the Exxxxxx Money shall be payable to either Purchaser or Seller in accordance with this Agreement. If event Purchaser fails to deposit the Exxxxxx Money Initial Deposit with the Title Company on or before two (2) Business Days after as herein provided, Seller may, at its option, terminate this Contract prior to the Effective Datemaking of the Initial Deposit, this Agreement and the Other Purchase and Sale Agreements shall be of no force or effect, and in which event neither Seller nor Purchaser shall have any further rights, liabilities or obligations hereunder or under the Other Purchase and Sale Agreements, except for provisions of this Agreement and the Other Purchase and Sale Agreements Contract which expressly survive the termination of this Contract. Not later than thirty (30) days after the expiration of the Inspection Period (as hereinafter defined), if Purchaser has not terminated this Contract pursuant to its rights under Section 5.2 hereof, Purchaser shall deposit with the Title Company an additional earnest money deposit in the amouxx xx Xifty Thousand and No/100 Dollars ($50,000.00) (the "Subsequent Deposit") in cash or Current Funds to be held by the Title Company in escrow to be applied or disposed of by the Title Company as is provided in this Contract. If the Purchaser does not properly terminate this Contract pursuant to Section 5.2 hereof and thereof. The fails to deposit the Subsequent Deposit on or before the thirtieth (30th) day after the end of the Inspection Period, then Seller may, at its option, terminate this Contract prior to the making of such Subsequent Deposit, in which event the Title Company shall invest pay the Exxxxxx Initial Deposit to Seller and thereafter neither Seller nor Purchaser shall have any further rights, liabilities or obligations hereunder except for provisions of this Contract which expressly survive the termination of this Contract. The term "Earnest Money promptly upon receipt in government insured interest-bearing accounts satisfactory to and Deposit", as directed by Purchaserused ix xxxx Contract, shall not commingle mean (i) the Exxxxxx Money with any Initial Deposit prior to deposit of the Subsequent Deposit, (ii) both the Initial Deposit and the Subsequent Deposit combined after the deposit of the Subsequent Deposit, and (iii) the Initial Deposit, the Subsequent Deposit and the Extension Deposit (as Deposit,iifSapplicable,hineeachccasentogether withdallsinteresteearnedsthereon. As used in this Contract, the term "Current Funds" shall mean wire transfers, certified funds of or a cashier's check in a form acceptable to the Title Company or others, and shall promptly provide Purchaser and Seller with confirmation of which would permit the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard Title Company to immediately disburse such accountfunds.

Amount and Timing. Within two (2) Business Days after the Effective Date, Purchaser shall deliver the Exxxxxx Money, in Current Funds, to the Title Company. Seller agrees The Sellers agree that the Exxxxxx Money shall be refundable at any time prior to expiration of the Inspection Period if Purchaser elects to terminate this Agreement pursuant to Section 5.3(c) hereof for any reason as determined in Purchaser’s sole and absolute discretion. After the expiration of the Inspection Period, the Exxxxxx Money shall be payable to either Purchaser or Seller Sellers in accordance with this Agreement. If Purchaser fails to deposit the Exxxxxx Money with the Title Company on or before two (2) Business Days after the Effective Date, this Agreement and the Other Purchase and Sale Agreements shall be of no force or effect, and neither Seller the Sellers nor Purchaser shall have any further obligations hereunder or under the Other Purchase and Sale Agreements, except for provisions of this Agreement and the Other Purchase and Sale Agreements which expressly survive the termination hereof and thereof. The Title Company shall invest the Exxxxxx Money promptly upon receipt in government insured interest-bearing accounts satisfactory to and as directed by Purchaser, shall not commingle the Exxxxxx Money with any funds of the Title Company or others, and shall promptly provide Purchaser and Seller the Sellers with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.