Common use of Amount and Timing Clause in Contracts

Amount and Timing. Within two (2) business days after the Effective Date (hereinafter defined), Purchaser shall deliver to Xxxxxxxx County Title Company, located at 000 X. 0xx Xxxxxx, Xxxxxxx, Xxxxxxxxxx 00000 (the "Title Company"), Twenty-Five Thousand and No/100 Dollars ($25,000.00) (the "Initial 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. In the event Purchaser fails to deposit the Initial Deposit with the Title Company as herein provided, Seller may, at its option, terminate this Contract prior to the making of the Initial Deposit, in which event neither Seller nor Purchaser shall have any further obligations hereunder except for provisions of this Contract which expressly survive the termination of this Contract. Not later than twenty (20) days after the expiration of the Inspection Period (as hereinafter defined), Purchaser shall deposit with the Title Company an additional xxxxxxx money deposit in the amount of One Hundred Twenty-Five Thousand and No/100 Dollars ($125,000.00) (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 provided in this Contract. If the Purchaser does not terminate this Contract pursuant to Section 5.2 hereof and fails to deposit the Subsequent Deposit on or before the twentieth (20th) 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 pay the Initial Deposit to Seller and thereafter neither Seller nor Purchaser shall have any further rights or obligations hereunder except for provisions of this Contract which expressly survive the termination of this Contract. The term "Xxxxxxx Money Deposit", as used in this Contract, shall mean (i) the Initial Deposit prior to deposit of the Subsequent Deposit, and (ii) both the Initial Deposit and the Subsequent Deposit combined after the deposit of the Subsequent Deposit, in each case, together with all interest earned thereon. As used in this Contract, the term "Current Funds" shall mean wire transfers, certified funds or a cashier's check in a form acceptable to the Title Company which would permit the Title Company to immediately disburse such funds. 3.2

Amount and Timing. Within two one (21) business days day after the Effective Date (hereinafter defined), Purchaser shall deliver to Xxxxxxxx County Old Republic Title Insurance Company, located at 000 X. 0xx Xxxxxx333 Bush Street, XxxxxxxSan Francisco, Xxxxxxxxxx XX 00000 (the "Title Company"), TwentyThirty-Seven Thousand Five Thousand and No/100 Hundred Dollars ($25,000.0037,500) (the "Initial Deposit") in cash or Current FundsFunds (hereinafter defined), 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. Unless Purchaser has previously terminated this Contract on or before the end of the Inspection Period (as hereinafter defined) pursuant to its rights under Section 5.2 hereof, then on or before the end of the Inspection Period, the Purchaser shall deliver to the Title Company an additional $62,500 and thereafter, upon Purchaser's review and reasonable approval of Seller's contract(s) with contractors for the Theater Remediation and accompanying interior demolition, an additional amount of no more than $50,000 necessary for Seller to effect the Theater Remediation and accompanying interior demolition (the "First Additional 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. In the event that the First Additional Deposit exceeds $62,500 as a result of Purchaser's deposit of an additional amount of no more than $50,000 necessary for Seller to effect the Theater Remediation and accompanying interior demolition, Purchaser shall have the right to extend the Closing Date by no more than thirty (30) days by providing notice of such extension and of the new Closing Date to Seller; provided, however, that, in the event, Seller has executed and delivered this Agreement on or before August 21, 1996, the Closing Date shall occur no later than December 31, 1996; provided, further, however, that for every day's delay beyond August 21, 1996 in Seller's execution and delivery of this Agreement, the Closing Date shall be extended by an equal amount of time. The Initial Deposit (together with interest thereon) and the First Additional Deposit (together with interest thereon) are herein collectively referred to as the "Earnest Money Deposit"; provided, xxxx until the First Additional Deposit has been made, the term "Earnest Money Deposit" shall meax xxx Xnitial Deposit (together with interest thereon). Notwithstanding the foregoing sentence, in the event of any termination of this Contract and the required delivery of the Earnest Money Deposit to Seller, xxx xxount of such Earnest Money Deposit shall be dxxxxx xhe amount set forth in this Section 3.1 less any portion of the Earnest Money Deposit used by Sexxxx xxr the Theater Remediation pursuant to Section 2.4. In the event Purchaser fails to deposit any portion of the Initial Earnest Money Deposit with the Title Company Txxxx Xxmpany as herein provided, Seller may, at its option, terminate this Contract prior shall automatically terminate and any portion of the Earnest Money Deposit which has xxxx xxlivered to the making of Title Company shall promptly be paid to the Initial DepositSeller, in which event and neither Seller nor Purchaser shall have any further obligations hereunder except for provisions of this Contract which by their terms expressly survive the termination of this Contract. Not later than twenty (20) days after the expiration of the Inspection Period (as hereinafter defined), Purchaser shall deposit with the Title Company an additional xxxxxxx money deposit in the amount of One Hundred Twenty-Five Thousand and No/100 Dollars ($125,000.00) (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 provided in this Contract. If the Purchaser does not terminate this Contract pursuant to Section 5.2 hereof and fails to deposit the Subsequent Deposit on or before the twentieth (20th) 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 pay the Initial Deposit to Seller and thereafter neither Seller nor Purchaser shall have any further rights or obligations hereunder except for provisions of this Contract which expressly survive the termination of this Contract. The term "Xxxxxxx Money Deposit", as used in this Contract, shall mean (i) the Initial Deposit prior to deposit of the Subsequent Deposit, and (ii) both the Initial Deposit and the Subsequent Deposit combined after the deposit of the Subsequent Deposit, in each case, together with all interest earned thereon. As used in this Contract, the term "Current Funds" shall mean wire transfers, certified funds or a cashier's check in a form acceptable to the Title Company which would permit the Title Company to immediately disburse such funds. 3.2.

Amount and Timing. Within two (2) business days after the Effective Date (hereinafter defined), Purchaser shall deliver to Xxxxxxxx County First American Title Insurance Company, located at 000 0000 X. 0xx XxxxxxXxxxxxxxx Xxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxxxx Xxxxxxx 00000 (the "Title Company"), Twenty-Five One Hundred Thousand and No/100 Dollars ($25,000.00100,000.00) (the "Initial 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. In the event Purchaser fails to deposit the Initial Deposit with the Title Company as herein provided, Seller may, at its option, terminate this Contract prior to the making of the Initial Deposit, in which event 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. Not later than twenty (20) days after the expiration of the Inspection Period (as hereinafter defined)December 15, 1998, Purchaser shall deposit with the Title Company an additional xxxxxxx money deposit in the amount of One Hundred Twenty-Five Thousand and No/100 Dollars ($125,000.00100,000.00) (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 terminate this Contract pursuant to Section 5.2 hereof and fails to deposit the Subsequent Deposit on or before the twentieth (20th) day after the end of the Inspection PeriodDecember 15, 1998, then Seller may, at its option, terminate this Contract prior to the making of such Subsequent Deposit, in which event the Title Company shall pay the Initial Deposit to Seller and thereafter neither Seller nor Purchaser shall have any further rights rights, liabilities or obligations hereunder except for provisions of this Contract which expressly survive the termination of this Contract. The term "Xxxxxxx Money Deposit", as used in this Contract, shall mean (i) the Initial Deposit prior to deposit of the Subsequent Deposit, and (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 defined in Section 8.1 hereof) combined after the deposit of the Extension Deposit, if applicable, in each case, case together with all interest earned thereon. As used in this Contract, the term "Current Funds" shall mean wire transfers, certified funds or a cashier's check in a form acceptable to the Title Company which would permit the Title Company to immediately disburse such funds. 3.2.

Amount and Timing. Within two five (25) business days xxxx after the Effective Date (hereinafter defined), Purchaser shall deliver to Xxxxxxxx County Chicago Title Company, Company located at 000 139 Spring Creek Village, Suite 2-C, Dallas, Texas 75248, Attention: X. 0xx Xxxxxx, Xxxxx Xxxxxxx (xxx "Xxxxx Xxxxxxx, Xxxxxxxxxx 00000 (the "Title Company"), Twenty-Five Thousand and No/100 Dollars Xxxxx Xxxxxxxx Xollars ($25,000.0050,000.00) (the xxx "Initial Xxxtial 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. In the event Purchaser fails to deposit the Initial Deposit with the Title Company as herein provided, Seller may, at its option, terminate this Contract prior to the making of the Initial DepositContract, in which event neither Seller nor Purchaser shall have any further obligations hereunder except for provisions of this Contract which expressly survive the termination of this Contract. Not later than twenty (20) days after Prior to the expiration end of the Inspection Period (as hereinafter defined), ) Purchaser shall deposit with the Title Company an additional xxxxxxx earnest money deposit in the amount of One Hundred Twenty-Five Fifty Thousand and No/100 Dollars Dollxxx ($125,000.0000,000.00) (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 provided in this Contract. If the Purchaser does not terminate this Contract pursuant to Section 5.2 hereof and fails to deposit the Subsequent Deposit on or before the twentieth (20th) 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 shall terminate and the Title Company shall pay the Initial Deposit to Seller Purchaser and thereafter neither Seller nor Purchaser shall have any further rights or obligations hereunder except for provisions of this Contract which expressly survive the termination of this Contract. The term "Xxxxxxx Earnest Money Deposit", as used in this Contract, shall mean (i) the Initial Xxxxxxx Deposit prior to deposit of the Subsequent Deposit, and (ii) both the Initial Deposit and the Subsequent Deposit combined after the deposit of the Subsequent Deposit, in each case, together with all interest earned thereon. As used in this Contract, the term "Current Funds" shall mean wire transfers, certified funds or a cashier's check in a form acceptable to the Title Company which would permit the Title Company to immediately disburse such funds. 3.2.