Delivery of Deposit. On the Closing Date the Escrow Agent shall deliver or cause to be delivered the Escrowed Amount pursuant to the terms of the Deposit Escrow Agreement.
Delivery of Deposit. Unless, pursuant to paragraph 10, Buyer exercises its right to cancel this Agreement on or before 60 days from the execution date, the Deposit shall become non-refundable and shall be delivered to Seller. All portions of the Deposit delivered to Seller pursuant to the provisions of this paragraph 4.b. shall be applied to the purchase price at Closing.
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. The Escrow Agent will deliver the Deposit to Seller or to Buyer, as the case may be, under the following conditions:
(a) to Seller on the Closing Date in the event a Closing shall occur pursuant to this Agreement; or
(b) to Seller upon receipt of written demand therefor (hereinafter called "SELLER'S DEMAND FOR DEPOSIT"), stating that the Buyer has failed to pay the Balance of the Purchase Price in accordance with the terms of this Agreement, or that Buyer has otherwise breached or defaulted in any of its material obligations under this Agreement, and the facts and circumstances underlying such default; PROVIDED, HOWEVER, that the Escrow Agent shall not honor such demand until at least five (5) days after the Escrow Agent shall have delivered a copy of Seller's Demand for Deposit to Buyer in accordance with the provisions of Section 10.4 below, nor thereafter if the Escrow Agent shall have received a Notice of Objection (as such term is defined in Section 10.4 below) from Buyer within such five (5) day period; or
(c) to Buyer upon receipt of written demand therefor (hereinafter called "BUYER'S DEMAND FOR DEPOSIT") stating that this Agreement has been terminated in accordance with the provisions hereof, or that any of Seller's representations or warranties are not true and correct in any material respect, or that Seller has otherwise breached or defaulted in any of its obligations under this Agreement, and the facts and circumstances underlying such default; PROVIDED, HOWEVER, that the Escrow Agent shall not honor such demand until at least five (5) days after the Escrow Agent shall have delivered a copy of Buyer's Demand for Deposit to Seller in accordance with the provisions of Section 10.4 below, nor thereafter if the Escrow Agent shall have received a Notice of Objection from Seller within such five (5) period.
Delivery of Deposit. Within two (2) Business Days following the full execution of this Agreement, CBL/OP shall deliver to Oak Park 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 Oak Park Contract and the Eastland Contract, (ii) in the face amount of Ten Million Dollars ($10,000,000), (iii) naming the Oak Park Property Owner as beneficiary, (iv) issued for the benefit of Property Owner, Eastland Property Owner and Oak Park Property Owner with the ability to draw by Oak Park 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 Oak Park Property Owner, the proceeds will be payable exclusively to Escrow Agent, and such proceeds will be held as the Deposit under this Agreement and will be subject to disposition by the Escrow Agent in accordance with the terms and conditions of this Agreement. The Deposit shall be non-refundable and the proceeds shall be disbursed 76% to Oak Park Property Owner, 15.46% to Eastland Property Owner and 8.54% to 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. 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. 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. 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.
Delivery of Deposit. Not later than two (2) Business Days after the Effective Date, Buyer shall deposit with Chicago Title Insurance Company 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 SIX MILLION TWENTY THOUSAND SEVEN AND 20/100 DOLLARS ($6,020,007.20) (the “Initial Deposit”),
Delivery of Deposit. At the Closing (as defined in Section 3.1) on the Closing Date (as defined in Section 3.1), the Settlement Agent shall credit to Buyer the Deposit and all interest earned thereon.
