DEMAND FOR EXXXXXX MONEY DEPOSIT. If for any reason the Closing does not occur and either party makes a written demand upon the Title Company for payment of the Exxxxxx Money Deposit, the Title Company shall give written notice to the other party of such demand. If the Title Company does not receive a written objection from the other party to the proposed payment within ten (10) business days after the giving of such notice, the Title Company is hereby authorized to make such payment. If the Title Company does receive such written objection within such ten (10) business day period or if for any other reason the Title Company in good faith shall elect not to make such payment, the Title Company shall continue to hold such amount until otherwise directed by written instructions from both parties to this Contract or a final judgment of a court of competent jurisdiction which is not subject to further appeal. The parties acknowledge that the Title Company is acting solely as a stakeholder at their request and for their convenience, that the Title Company shall not be deemed to be the agent of either of the parties, except as expressly set forth herein, and that the Title Company shall not be liable to either of the parties for any act or omission on its part unless taken or suffered in bad faith, in willful disregard of this Contract or of any escrow agreement or involving gross negligence. The Title Company joins in the execution of this Contract solely for the purpose of acknowledging receipt of the Exxxxxx Money Deposit and its agreement to hold the same pursuant to the terms hereof.
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Samples: Assignment of Purchase Agreement (Aei Net Lease Income & Growth Fund Xx Limited Partnership), Assignment of Purchase Agreement (Aei Income & Growth Fund 25 LLC), Contract of Sale (Aei Net Lease Income & Growth Fund Xix Limited Partnership)
DEMAND FOR EXXXXXX MONEY DEPOSIT. If for any reason the Closing does not occur and occxx xxx either party makes a written demand upon the Title Company for payment of the Exxxxxx Earnest Money Deposit, the Title Company shall give written notice to the xx xxx other party of such demand. If the Title Company does not receive a written objection from the other party to the proposed payment within ten (10) business days after the giving of such notice, the Title Company is hereby authorized to make such payment. If the Title Company does receive such written objection within such ten (10) business day period or if for any other reason the Title Company in good faith shall elect not to make such payment, the Title Company shall continue to hold such amount until otherwise directed by written instructions from both parties to this Contract or a final judgment of a court of competent jurisdiction which is not subject to further appeal. The parties acknowledge that the Title Company is acting solely as a stakeholder at their request and for their convenience, that the Title Company shall not be deemed to be the agent of either of the parties, except as expressly set forth herein, and that the Title Company shall not be liable to either of the parties for any act or omission on its part unless taken or suffered in bad faith, in willful disregard of this Contract or of any escrow agreement or involving gross negligence. The Title Company joins in the execution of this Contract solely for the purpose of acknowledging receipt of the Exxxxxx Earnest Money Deposit and its agreement to hold the same pursuant to the xx xxx terms hereof.
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