Common use of Application and Interest Clause in Contracts

Application and Interest. If the purchase and sale hereunder is consummated, then the Xxxxxxx Money Deposit shall be applied to the Purchase Price at Closing. In all other events, the Xxxxxxx Money Deposit shall be disposed of by the Title Company as provided in this Contract. The Xxxxxxx Money Deposit shall be invested in an interest-bearing account with a financial institution and in a manner reasonably acceptable to Purchaser. All interest earned on the Xxxxxxx Money Deposit is part of the Xxxxxxx Money Deposit, to be applied or disposed of in the same manner as the Xxxxxxx Money Deposit under this Contract.

Application and Interest. If the purchase and sale hereunder is consummated, then the Xxxxxxx Money Deposit shall be applied to the Purchase Price at Closing. In all other events, the Xxxxxxx Money Deposit shall be disposed of by the Title Company as provided in this Contract. The Xxxxxxx Money Deposit shall be invested in an interest-bearing account with a financial institution and in a manner manner, reasonably acceptable to Purchaser. All interest earned on the Xxxxxxx Money Deposit is part of the Xxxxxxx Money Deposit, to be applied or disposed of in the same manner as the Xxxxxxx Money Deposit under this Contract.

Application and Interest. If the purchase and sale contemplated hereunder is consummated, then the Xxxxxxx Money Deposit shall be applied to the Purchase Price at Closing. In all other events, the Xxxxxxx Money Deposit shall be disposed of by the Title Company as provided in this Contract. The Xxxxxxx Money Deposit shall be invested in an interest-bearing account with a financial institution and in a manner reasonably acceptable to PurchaserSeller. All interest earned on the Xxxxxxx Money Deposit is part of the Xxxxxxx Money Deposit, to be applied or disposed of in the same manner as the Xxxxxxx Money Deposit under this Contract.