Deposit and Investment of Xxxxxxx Money. Within three business days after the Effective Date, Purchaser shall deposit the Initial Xxxxxxx Money with Escrow Agent. If upon the expiration of the Inspection Period, this Agreement is still in force and effect, Purchaser shall, no later than the second day following the expiration of the Inspection Period, deposit the Additional Xxxxxxx Money, if any, as specified in Section 1.1.4 above, with Escrow Agent. Escrow Agent shall invest the Xxxxxxx Money in government insured interest-bearing accounts satisfactory to Seller and Purchaser, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.
Deposit and Investment of Xxxxxxx Money. Within three (3) business days after the Effective Date, Purchaser shall deposit the Xxxxxxx Money with Escrow Agent. Escrow Agent shall invest the Xxxxxxx Money in government insured interest-bearing accounts satisfactory to Seller and Purchaser, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.
Deposit and Investment of Xxxxxxx Money. Within two (2) Business Days after the Effective Date, Purchaser shall deposit Twenty-Three Million One Hundred Thousand and no/100 Dollars ($23,100,000.00) with Escrow Agent and deliver a completed, executed Form W-9 to the Escrow Agent and the Seller. Within two (2) Business Days after Purchaser has delivered the Due Diligence Waiver Notice to Seller pursuant to Section 4.3.1 hereof, Purchaser shall deposit Twenty-Three Million One Hundred Thousand and no/100 Dollars ($23,100,000.00) with Escrow Agent. Escrow Agent shall invest the Xxxxxxx Money in the Federated Prime Obligations Fund (NASDAQ: POIXX), shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to the investment of the Xxxxxxx Money. Upon any termination of the Harborside Purchase and Sale Agreement prior to the closing thereunder except pursuant to Section 4.3.1, Section 4.3.2 or Article X thereof, Seller and Purchaser hereby direct Escrow Agent to immediately add the xxxxxxx money held by Escrow Agent pursuant to the Harborside Purchase and Sale Agreement (the “Harborside Xxxxxxx Money”) to the Xxxxxxx Money and thereafter all references herein to the Xxxxxxx Money shall be deemed to refer to the Xxxxxxx Money as increased by the Harborside Xxxxxxx Money.
Deposit and Investment of Xxxxxxx Money. Within two (2) Business Days after the Effective Date, Purchaser shall deposit One Million Nine Hundred Thousand and no/100 Dollars ($1,900,000.00) with Escrow Agent and deliver a completed, executed Form W-9 to the Escrow Agent and the Seller. Within two (2) Business Days after Purchaser has delivered the Due Diligence Waiver Notice to Seller pursuant to Section 4.3.1 hereof, Purchaser shall deposit One Million Nine Hundred Thousand and no/100 Dollars ($1,900,000.00) with Escrow Agent. Escrow Agent shall invest the Xxxxxxx Money in the Federated Prime Obligations Fund (NASDAQ: POIXX), shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to the investment of the Xxxxxxx Money.
Deposit and Investment of Xxxxxxx Money. One (1) business day after the Effective Date, Purchaser shall deposit the Xxxxxxx Money with Escrow Agent into a joint order escrow. Escrow Agent shall invest the Xxxxxxx Money in government insured interest-bearing accounts satisfactory to Seller and Purchaser, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and as between Seller and Purchaser, Purchaser accepts all risks with regard to such account.
Deposit and Investment of Xxxxxxx Money. Within three (3) business days after the Effective Date, Purchaser shall deposit the Initial Xxxxxxx Money with Escrow Agent. If upon the expiration of the Inspection Period, this Agreement is still in force and effect, Purchaser shall, no later than the last day of the Inspection Period, deposit the Additional Xxxxxxx Money, if any, as specified in Section 1.1.4 above, with Escrow Agent. Escrow Agent shall invest the Xxxxxxx Money in government insured interest-bearing accounts satisfactory to Seller and Purchaser, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account. Contemporaneously with the execution and delivery of this Agreement, Purchaser and Seller (and certain other parties as identified therein) have executed and delivered that certain Portfolio Tie-In Agreement (the "Portfolio Tie-In Agreement") governing the exercise of certain termination rights by Seller and Purchaser and the application of the Xxxxxxx Money at Closing. To the extent of any conflict between the terms of this Agreement and the terms of the Portfolio Tie-In Agreement, the terms and provisions of the Portfolio Tie-In Agreement shall govern and control.
Deposit and Investment of Xxxxxxx Money. Within three (3) business days after the Effective Date, Purchaser shall deposit the Initial Xxxxxxx Money with Escrow Agent. $25,000.00 of the Initial Xxxxxxx Money (the "Non-Refundable Xxxxxxx Money"), including interest thereon shall immediately be deemed earned by Seller and become NON-REFUNDABLE to Purchaser in all events other than as expressly set forth in this Agreement, including without limitation, the following: (i) a default by Seller and failure to close under Section 10.2 when Purchaser is not in default hereunder, (ii) termination of this Agreement due to a condemnation in accordance with Section 6.3, (iii) termination of this Agreement by Purchaser pursuant to Sections 5.4 or 6.2.1, (iv) termination of this Agreement by either party due to the failure of any one of the conditions set forth in Sections 7.2.1, 7.2.2, 7.2.3 or 7.2.4 provided said failure is not the result of Purchaser's default hereunder, or (v) termination of this Agreement by Purchaser due to an Unknown Violation of Environmental Law as described in Section 4.4. If upon the expiration of the Inspection Period, this Agreement is still in force and effect, Purchaser shall, no later than one (1) business day after the expiration of the Inspection Period, deposit the Additional Xxxxxxx Money as specified in Subsection 1.1.4 above, with Escrow Agent. Immediately upon receipt Escrow Agent shall invest the Xxxxxxx Money in government insured interest-bearing accounts satisfactory to Seller and Purchaser, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.
Deposit and Investment of Xxxxxxx Money. Within three (3) Business Day after the Effective Date, Purchaser shall deposit the Initial Xxxxxxx Money with Escrow Agent and deliver a completed, executed Form W-9 to the Escrow Agent and the Seller. If upon the expiration of the Inspection Period, this Agreement is still in force and effect, Purchaser shall, no later than the second Business Day following the last day of the Inspection Period, deposit the Additional Xxxxxxx Money, as specified in Section 1.1.4 above, with Escrow Agent. Escrow Agent shall invest the Xxxxxxx Money in government insured interest-bearing accounts satisfactory to Seller and Purchaser, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.
Deposit and Investment of Xxxxxxx Money. Within two (2) Business Days after the Effective Date, Purchaser shall deposit the Initial Xxxxxxx Money with Escrow Agent. If upon the expiration of the Inspection Period, this Agreement is still in force and effect, Purchaser shall be required within two (2) Business Days from the expiration of the Inspection Period to deposit the Additional Xxxxxxx Money as specified in Section 1.1(c) with Escrow Agent. Except as expressly set forth herein to the contrary, the Xxxxxxx Money shall become nonrefundable upon the expiration of the Inspection Period if Purchaser does not notify Seller in writing on or before the expiration of the Inspection Period that Purchaser elects to terminate this Agreement. Notwithstanding the prior sentence, if the transaction fails to close because of Seller’s default under this Agreement or failure of a condition precedent to Purchaser’s obligations to close other than due to a default or breach by Purchaser, the Xxxxxxx Money shall be disbursed to Purchaser as otherwise provided in this Agreement. If the transaction fails to close for any other reason, the Xxxxxxx Money shall be disbursed to Seller or Purchaser, as the case may be, as otherwise provided in this Agreement. If the transaction closes in accordance with the terms of this Agreement, then Escrow Agent shall deliver the Xxxxxxx Money to Seller at Closing as payment towards the Purchase Price.
Deposit and Investment of Xxxxxxx Money. Within one (1) business day after the Effective Date, Buyer shall deposit the Xxxxxxx Money with Escrow Agent. Escrow Agent shall invest the Xxxxxxx Money in government insured interest bearing accounts for the benefit of Buyer and satisfactory to Seller and Buyer, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Buyer and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Buyer accepts all risks with regard to such account.
