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.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Strategic Storage Growth Trust, Inc.)
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 third business 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 Sellers and Purchaser, shall not commingle the Xxxxxxx Money with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller Sellers 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.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.)
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 second last day following the expiration of the Inspection Period, deposit the Additional Xxxxxxx Money, if any, as specified in Section Subsection 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.
Appears in 1 contract
Samples: Agreement of Purchase and Sale (Apple Residential Income Trust Inc)
Deposit and Investment of Xxxxxxx Money. Within three two 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 two business days after the second last day following the expiration of the Inspection Period, deposit the Additional Xxxxxxx Money, if any, 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.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Inland American Real Estate Trust, Inc.)
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 second last day following the expiration of the Inspection Period, deposit the Additional Xxxxxxx Money, if any, as specified in Section Subsection 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.
Appears in 1 contract
Samples: Agreement for Purchase and Sale (Wells Real Estate Investment Trust Inc)
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 third business 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.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.)
