Closing Deposit. The Purchase Price less the Initial Deposit ("Closing Deposit"), shall be paid by Buyer to Escrow Agent, in the form of Cash, pursuant to Section 7.1 hereof, and distributed by Escrow Agent to Seller on the Closing in accordance with the provisions of Section 12.1(c) hereof.
Closing Deposit. Within five (5) Business Days after the execution of this Agreement, the Purchaser shall pay to the Company a Closing Deposit of $2 million by wire transfer to a bank escrow account designated by the Company (the “Closing Deposit”) for the benefit of the Company and the Purchaser (the “Escrow Account”). The Purchaser shall provide necessary documents and materials as reasonably and timely requested by the Company in order to open such Escrow Account within one (1) Business Days after the execution of this Agreement. At the Closing (as defined below), such Closing Deposit shall be treated as a part of the total purchase price paid by the Purchaser. The Closing Deposit shall not be refunded by the Company to the Purchaser if there is a material breach by the Purchaser.
Closing Deposit. (a) The closing of the purchase of the Purchased Assets under this Agreement shall take place at the offices of Xxxxxx Xxxxxx, Xxx Xxxxxxxx Xxxxxx, Xxxxxxxx, Xxxxx, at 10:00 a.m. local time, on the closing date (the "Closing" or the "Closing Date"), which shall be the first business day of the calendar month which is at least ten (10) days after the fulfillment or waiver of each of the conditions set forth in Article V hereof or at such other place, or on such earlier or later date and time as may be mutually agreed in writing by Buyer and Sellers, with the parties executing documents and exchanging signed documents. All proceedings to be taken and all documents to be executed and delivered by all parties at the Closing shall be deemed to have been taken and executed simultaneously, and no proceedings shall be deemed to have been taken nor any documents executed or delivered until all have been taken, executed and delivered. At Closing, (i) the Sellers and CSC shall deliver to Buyer all executed documents contemplated hereby including, without limitation, bills of sale and quitclaim deeds with covenant, necessary to transfer all of Sellers' and CSC's right, title and interest in and to the Purchased Assets, subject only to Permitted Liens, to Buyer as provided herein, (ii) the Buyer shall deliver to the Sellers all executed documents contemplated hereby, including without limitation instruments of assumption with respect to the Assumed Liabilities, and (iii) Buyer shall arrange for the delivery or wire transfer of the Purchase Price to or at the written direction of the Sellers on the terms set forth herein.
Closing Deposit. The Cash Purchase Price, less: (i) the Deposit; (ii) the Bay Hill Loan Balance; and (iii) the Extension Deposit, as applicable (“Closing Deposit”), shall be paid by Buyer to Escrow Agent, in the form of Cash, pursuant to Section 7.1 hereof, and shall be distributed by Escrow Agent to Seller at the Closing, subject to and in accordance with the provisions of this Agreement.
Closing Deposit. The Purchase Price, less the Deposit, and less the Building B Loan Balance (the “Closing Deposit”), shall be paid by Buyer to Escrow Holder, in the form of Cash, pursuant to Section 7.1 hereof, and distributed by Escrow Holder to Seller on the Closing in accordance with the provisions of Section 12.1(c) hereof.
Closing Deposit. The Purchase Price, less the Xxxxxxx Money Deposit (“Closing Deposit”), shall be paid by Buyer to Escrow Agent, in the form of Cash, pursuant to Section 6.
Closing Deposit. (a) Subject to the terms and conditions set forth in this Section 9.14, on the Closing Date Buyers shall cause a portion of the Adjusted Purchase Price in the amount of $5,000,000.00 (the "Closing Deposit") to be deposited with the Escrow Agent pursuant to the terms and provisions of an escrow agreement by and among Buyers, Seller and the Escrow Agent substantially in the form attached hereto as EXHIBIT 9.14 (the "Closing Deposit Escrow Agreement"). For income tax purposes, Seller shall include in its income any interest, dividends and other amounts earned on the Closing Deposit ("Closing Deposit Escrow Earnings") prior to disbursement of the Closing Deposit to Seller. The Closing Deposit shall be held and distributed by the Escrow Agent in accordance with the terms and provisions of the Closing Deposit Escrow Agreement. If the Closing occurs, Buyers agree to provide written notice to Seller of any intent to withdraw from the Closing Deposit to satisfy any claims of Buyers for indemnification under Section 15.1 of this Agreement; and if Seller fails, within thirty (30) days following receipt of such notice from Buyers, to provide joint written instructions to the Escrow Agent to allow Buyers to withdraw such funds from the Closing Deposit, then Buyers may submit the dispute to be resolved by dispute resolution set forth in Section 16.12. On the date of any distribution to Seller by the Escrow Agent of funds from the Closing Deposit, the Escrow Agent shall distribute to Seller the Closing Deposit Escrow Earnings on such distribution. Seller's liability for indemnification under Section 15.1 of this Agreement shall not be limited to the Closing Deposit. Upon Closing, Buyers agree to seek recovery for Buyers' claims for indemnification under Section 15.1 of this Agreement against the Closing Deposit to the extent such claims do not exceed the Closing Deposit. To the extent such claims exceed the Closing Deposit, Seller shall be liable therefor in accordance with the applicable provisions of Section 15.1
Closing Deposit. 48 Section 9.15
Closing Deposit. As consideration for the extension of the Closing Date, Purchaser hereby agrees that if, as and when this Amendment is fully executed, Purchaser shall, within three (3) business days following the Effective Date of this Amendment deposit an additional One Hundred Thousand and No/100s Dollars ($100,000.00) (the "Closing Extension Deposit") with the Title Company. The Closing Extension Deposit shall replace the Xxxxxxx Money deposit totaling One Hundred Thousand and No/100s Dollars ($100,000.00), and shall be refundable pursuant to the terms of the Contract. Upon the funding of the Closing Extension Deposit, the Title Company is hereby instructed to release the original Xxxxxxx Money deposit to Seller.
