Deposit and Escrow. 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Sxxxx Xxxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: sxxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money deposit in the amount of ten thousand and No/100 Dollars ($10,000) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties.
Deposit and Escrow. 1.3.1 Within three (3) Business Days of the Effective Date, Buyer shall deliver to Escrow Agent at the following address: 000 Xxxxx Xxxxxxxx Xxxxxx, Suite 400, Los Angeles, California 90017, attention: Xxxxx Xxxxxxxx, telephone: (000) 000-0000, facsimile: (000) 000-0000, e-mail: xxxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of Two Hundred Thousand and No/100 Dollars ($200,000.00) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper party or parties.
Deposit and Escrow. 1.4.1 Within three (3) Business Days (as defined below) after the Effective Date, Buyer shall deliver to Escrow Agent at the following address: 000 Xxxxx Xxxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxxxxx, XX 00000 Attn: Xxxxxx Xxxxxxx, Vice President, Special Projects (xxxxxxx@xxx.xxx) Phone: (000) 000-0000, a deposit in the form of cash or a wire transfer of immediately available funds in the amount of Nineteen Thousand Five Hundred and No/100 Dollars ($19,500.00) (the “Initial Deposit”), and within one (1) Business Day following the expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Escrow Agent an additional good faith deposit (the “Additional Deposit”) of Nine Thousand Seven Hundred Fifty and No/100 Dollars ($9,750.00). The Initial Deposit and the Additional Deposit shall be collectively referred to herein as the “Deposit”. The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the Buyer. All interest earned on the Deposit shall be reported to the Internal Revenue Service as the income of Buyer. Buyer shall promptly execute such documents as the Escrow Agent may reasonably request to report properly such income. If Buyer fails to deposit the Initial Deposit in accordance with this Section, this Agreement shall terminate and neither Seller nor Buyer shall have any further rights, obligations or liabilities to the other party arising out of or resulting from this Agreement except as follows: Buyer shall return to Seller: (i) all Property Information (as defined below); and (ii) all information provided by Seller as part of the Exhibits and Schedules to this Agreement. In the event Buyer fails to deposit the Initial Deposit in accordance with this Section, Seller’s remedies shall be limited to receipt of such materials, and in no event shall Seller be entitled to the Initial Deposit. Failure to timely deliver the Additional Deposit (after notice and expiration of any applicable cure period) shall constitute a default by Buyer.
Deposit and Escrow. (a) The Company and each Purchaser hereby appoint Morse, Zelnick, Rose & Lander, LLP to act as escrow agent (“Escrow Agent”) in connection with the transactions contemplated hereby upon the following terms and conditions:
Deposit and Escrow. 1.6.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money deposit in the amount of Fifty Thousand and No/100 Dollars ($50,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties.
Deposit and Escrow. 1.4.1 Within one (1) Business Day after the Effective Date, Buyer shall deliver to Escrow Agent at the following address: 0000 Xxxx Xxxxxxxxx Xxxx, Xxxxx 000, Xxxxxxx, XX 00000, Attention: Xx. Xxxx Xxxxxxx, a good faith deposit in the amount of One Hundred Twenty-Five Thousand Dollars ($125,000.00) (said amount, inclusive of interest earned thereon, is referred to herein as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. Buyer’s Federal Tax Identification Number may be listed after its signature. The Escrow Agent shall not be responsible for any loss, diminution in value or failure to achieve a greater profit as a result of such investments. Escrow Agent assumes no responsibility for, nor shall said Escrow Agent be held liable for, any loss occurring which arises from (i) failure of the depository institution, (ii) the fact that some banking instruments, including without limitation repurchase agreements and letters of credit are not covered by the Federal Deposit Insurance Corporation, or (iii) the fact that the amount of the Deposit may cause the aggregate amount of any depositor’s accounts to exceed $250,000 and that such excess amount is not insured by the Federal Deposit Insurance Corporation. The Escrow Agent is not a trustee for any party for any purpose, and is merely acting as a depository and in a ministerial capacity hereunder with the limited duties herein prescribed. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. The Seller and Buyer shall indemnify, save, defend, keep and hold harmless the Escrow Agent from any and all loss, damage, cost, charge, liability, cost of litigation, or other expense, including without limitation attorney’s fees and court costs, arising out of its obligations and duties, including but not limited to (i) disputes arising or concerning amounts of money to be paid, (ii) funds available for such payments, (iii) persons to whom payments should be made or (iv) any delay in the electronic wire transfer of funds, as Escrow Agent, unless Escrow Agent’s actions constitute gross negligence or willful misconduct.
Deposit and Escrow. 1.4.1 Within three (3) Business Days after the latter of (a) the Effective Date or (b) the receipt of all of the Property Information (as described in Section 3.3), Buyer shall deliver to Escrow Agent at the following address: 0000 Xxxxxx Xxxx, Suite 300, Longview, Texas 75605 Attn: Xxxxx Xxxx, a deposit in the amount of One Million and No/100 Dollars ($1,000,000.00) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper party or parties.
Deposit and Escrow. 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to Xxxxx Title, Attn: Xxxxx Xxxxxxx, located at 0000 Xxxxxxxx Xxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxx, Xxxxxxxx 00000, Telephone: (000) 000-0000, E-mail: xxxxx@xxxxxxxxxx.xxx (“Escrow Holder”) an xxxxxxx money deposit in the amount of ten thousand and No/100 Dollars ($10,000.00) (together with any interest thereon, the “Deposit”). The Deposit shall be held in an insured interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties.
Deposit and Escrow. On the Effective Date, Purchaser shall deliver a deposit to Xxxxxx and Xxxxxx LLP (“Escrow Agent”), One Battery Park Xxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attn: Xxxx
Deposit and Escrow. Prior to or substantially concurrent with the execution of this Agreement (or, in the event that the Escrow Agent is not prepared to accept the Deposit on the date hereof, as soon as the Escrow Agent is so prepared), the Purchaser has delivered or will deliver to the Escrow Agent, to be held in escrow by the Escrow Agent, a deposit equal to the Subscription Amount (the “Deposit”). The Deposit shall not be subject to any lien, attachment, trustee process or any other judicial process of any creditor of the Purchaser. The Escrow Agent shall deliver the Deposit to the Company at the Closing, by bank wire transfer of immediately available funds, and the Deposit shall satisfy in full the amount required to be paid by the Purchaser to the Company at the Closing. If this Agreement is terminated prior to the Closing for any reason, the Escrow Agent shall return the Deposit to the Purchaser following such termination.
