Common use of Closing Deposits Clause in Contracts

Closing Deposits. Buyer agrees to pay to the Escrow Agent, at the Closing, in cash by wire transfer of immediately available funds (i) the Indemnity Deposit for deposit to the Indemnity Deposit Escrow Account and (ii) any Title Defect Deposit for deposit into the Title Defect Deposit Escrow Account. The Indemnity Deposit plus any interest accrued thereon will be available to satisfy certain amounts owed by Seller to Buyer respecting indemnities under this Agreement in accordance with the terms of an escrow agreement substantially in the form attached as Exhibit A-3 (the “Indemnity Deposit Escrow Agreement”) and the Title Defect Deposit plus any interest accrued thereon will be available to satisfy any Title Defect Amounts owed by Seller to Buyer under Exhibit B in respect of claims for Title Defect Amounts that are not finally determined prior to Closing.

Closing Deposits. Buyer Xxxxx agrees to pay to the Escrow Agent, at the Closing, in cash by wire transfer of immediately available funds (i) the Indemnity Deposit for deposit to the Indemnity Deposit Escrow Account and (ii) any Title Defect Deposit for deposit into the Title Defect Deposit Escrow Account. The Indemnity Deposit plus any interest accrued thereon will be available to satisfy certain amounts owed by Seller to Buyer respecting indemnities under this Agreement in accordance with the terms of an escrow agreement substantially in the form attached as Exhibit A-3 (the “Indemnity Deposit Escrow Agreement”) and the Title Defect Deposit plus any interest accrued thereon will be available to satisfy any Title Defect Amounts owed by Seller to Buyer under Exhibit B in respect of claims for Title Defect Amounts that are not finally determined prior to Closing.