Delivery of Deposit. On the Closing Date the Escrow Agent will deliver or cause to be delivered the Deposit pursuant to the terms of this Agreement.
Delivery of Deposit. On the Closing Date the Title Company shall deliver or cause to be delivered the Escrowed Amount pursuant to the terms of the Deposit Escrow Agreement.
Delivery of Deposit. Within two (2) Business Days following the full execution of this Agreement, CBL/OP shall deliver to Property Owner the Letter of Credit, defined below. As used herein, the term "Deposit" shall mean any proceeds of, or moneys paid in connection with, the Letter of Credit, including, without limitation, any interest thereon. The term "Letter of Credit" shall mean an irrevocable standby letter of credit (i) in the form attached hereto as Exhibit Q and made a part hereof (which shall be same Letter of Credit for the Hickory Point Contract and the Eastland Contract, (ii) in the face amount of Ten Million Dollars ($10,000,000), (iii) naming the Property Owner as beneficiary, (iv) issued for the benefit of Property Owner, Eastland Property Owner and Hickory Point Property Owner with the ability to draw by Property Owner pursuant to the terms of this Agreement, (v) issued by and drawn upon First Tennessee Bank, N.A. or Wells Fargo Bank, N.A., and (vi) issued for a term of sixty (60) xxxx from its date of issuance with a right, upon ten (10) days notice prior to the expiration of such sixty (60) day term, for CBL/OP to extend the term of the Letter of Credit for an additional sixty (60) days. Property Owner will only be permitted to draw on the Letter of Credit in the event (1) of a default by CBL/OP under this Agreement or under either of the Other Mall Contracts, or (2) the Letter of Credit has not been renewed or extended and less than ten (10) days remain prior to the expiration thereof. In the event of any drawing on any Letter of Credit by Property Owner, the proceeds will be payable exclusively to Escrow Agent, and such proceeds will be held as the Deposit under this Agreement and the Other Mall Contracts and will be subject to disposition by the Escrow Agent in accordance with the terms and conditions of this Agreement and under the Other Mall Contracts. The Deposit shall be non-refundable and the proceeds shall be disbursed 76% to Property Owner, 15.46% to Eastland Property Owner and 8.54% to Hickory Point Property Owner in the event of a termination of this Agreement or failure to close by CBL/OP, subject to the exceptions provided in Section 3.6 below.
Delivery of Deposit. The Deposit shall be paid by Buyer by wire transfer, in immediately available funds, to the Escrow Agent mutually agreed upon by the Parties.
Delivery of Deposit. On or before August 19, 2011, Purchaser shall deliver to Title Company a cash deposit in the amount of Eleven Million Eight Hundred Thousand Dollars ($11,800,000) to be held in escrow by Title Company as a good faith deposit under this Agreement (together with any interest thereon, the “Deposit”).
Delivery of Deposit. (i) Not later than two (2) Business Days after the Effective Date, Buyer shall deposit with Chicago Title Insurance Company, 0000 Xxxxxxx Xxxxxxxx Xxxx, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000 (the “Escrow Holder”) immediately available good funds in United States dollars (“Cash”) in the amount of FIVE MILLION ONE HUNDRED FORTY ONE THOUSAND ONE HUNDRED SIX AND 74/DOLLARS ($5,141,106.74) (the “Initial Deposit”), to be held in an escrow established by Escrow Holder pursuant to this Agreement and the Escrow Agreement
Delivery of Deposit. Purchaser shall, at Purchaser’s election, either (i) cause the Escrow Agent to pay to Seller the Deposit held by the Escrow Agent by federal wire transfer in immediately available funds to such bank account(s) as Seller may designate, and such amount shall be credited against the Purchase Price, or (ii) request that the Escrow Agent return the Deposit upon Closing to Purchaser, in which event Purchaser shall deliver the balance due of the Purchase Price as provided in Section 2.3.2 below. 2.3.2
Delivery of Deposit. Escrow Agent shall deliver the Deposit to Seller or Purchaser, as the case may be, as follows:
Delivery of Deposit. (i) Not later than five (5) Business Days after the Effective Date, Buyer shall deposit with Westcor Land Title Insurance Company, Inc., 000 Xxxx Xxxxxxxxxx Xxxx, Xxx. 000, Xxxxxxxx Xxxxxxx, XX 00000, Attn: Xxxxxxx Xxxxxxxx, 000-000-0000, xxxxxxxxx@xxxxx.xxx (the “Escrow Holder”) by wire transfer in immediately available good funds in United States dollars (“Cash”) the amount of TWO MILLION SEVEN HUNDRED FORTY-ONE THOUSAND NINE HUNDRED TWELVE AND NO/100 DOLLARS ($2,741,912.00) (the “Deposit”), of which SIX HUNDRED SEVENTY-FIVE THOUSAND EIGHT HUNDRED TWENTY-EIGHT AND 21/100 DOLLARS ($675,828.21) (the “Non-Refundable Deposit”) shall be non-refundable to Buyer other than in the event of (i) a Seller Default which has not been timely cured pursuant to and in accordance with Section 14(b) or (ii) the failure of the Loan Assumption Conditions to be satisfied as a result of any reason other than the Companion Contract Buyer’s default under the Companion Contract which has not been timely cured in accordance with Section 14(a) thereof, in either of which events, the Deposit (including the Non-Refundable Deposit) shall be fully refundable to Buyer. In the event Buyer fails to deliver the Deposit in accordance with the terms herein, then this Agreement shall automatically be deemed null and void and of no further effect without the necessity of confirmation by either party, except Buyer and Seller shall have such rights and obligations as are set forth herein to survive termination hereof.
Delivery of Deposit. The last sentence is amended as follows: “All portions of the original Deposit (“Deposit #1) as paid to the Closing Agent on 11-22-2023 shall be applied to the purchase price at the closing on Lot 1 and the additional deposit delivered to Seller pursuant to the provisions of this paragraph 4.b. shall be applied to the purchase price at closing on Lots 2 and 3.”
