Deposit; Due Diligence Sample Clauses
Deposit; Due Diligence. (a) The Purchaser has made, by wire transfer, a deposit (the “Deposit”) in the amount of Twenty Five Thousand Dollars USD ($25,000.00), to the Escrow Account on January 16, 2018, for the Shares being sold by the Sellers. The amount deposited will be held in the Escrow Account until Closing (as hereinafter defined) of this Agreement) or until otherwise released as provided in this Agreement.
(b) It is agreed that the company will be current with all filings with SEC at Closing. With the exception of the Form 10K for the period of December 31, 2017.
(c) The Deposit will be non-refundable unless the Sellers fail to fulfill any of their obligations under this Agreement. In addition, if after signing this Agreement and prior to the Closing, in performing due-diligence, the Purchaser discovers something of significance with respect to the Sellers or the Company that is not previously disclosed herein and that changes the structure and intent of this Agreement and the transaction contemplated hereby, the Purchaser will notify the Sellers of the such by written notice given in to the addresses and in the manner provided in Section 6.08 of this Agreement and request refund of the Deposit. The Sellers shall have ten (10) days after receiving any such notice to correct the discrepancy, to the extent correctable, to the reasonable satisfaction of the Purchaser or the Deposit will be refunded to the Purchaser by the Escrow Agent. The account wire instructions for the Deposit herein and payment pursuant to Sections 1.04 and 3.01(b) (i) are as follows: First Bank of Nevada ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇-▇▇▇-▇▇▇▇ ABA Routing #▇▇▇▇▇▇▇▇▇ SWIFT code: ▇▇▇▇▇▇▇▇ FOR THE ACCOUNT OF: ▇▇▇▇ ▇. ▇▇▇▇▇▇ COLTAF Trust Account ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ Account # 419-123-1973 As soon as reasonably practicable after receipt of the Deposit and upon instructions by the Purchaser, the Sellers will make available by Google Drive or Drop Box, or by email, for review by the Purchaser, the described in this Agreement, any and all other documents and records of the Company and all other information regarding the Company which the Purchaser requests. The Purchaser will provide Sellers with the information as requested by the Sellers concerning the Purchaser, including information on its proposed director nominees.
Deposit; Due Diligence. Purchaser has previously wire transferred a deposit (the “Deposit”) in the amount of Fifty Thousand Dollars ($50,000.00), to the Escrow Account, which is being held in escrow by the Escrow Agent. ▇▇▇▇▇▇ has previously sent to Purchaser’s attorney the due diligence documents requested by ▇▇▇▇▇▇▇▇▇. Purchaser shall have until 5 PM in New York on August 15, 2022 to accept or reject the purchase of the Shares. The Deposit shall become non-refundable as of 5 PM EDT on August 15, 2022, unless the Purchaser has rejected the purchase of the Shares by providing written notice of such rejection to the Escrow Agent and the Purchaser before that day and time. Until the close of business in New York on August 15, 2022, the Deposit will be fully refundable for any reason or no reason (the “Due Diligence Period”). In the event Purchaser fails to close the Transaction on or before August 18, 2022 for any reason other than Seller’s failure to deliver the items in 3.02(a), the Escrow Agent shall promptly remit the $50,000 to Seller’s account as instructed by Seller.
Deposit; Due Diligence. (a) Upon execution of this Agreement, the Purchaser shall make, by wire transfer, a refundable deposit (the “Deposit”) in the amount of Thirty Thousand Dollars USD ($30,000.00), to the Escrow Account on or before September 28, 2017, for the Shares being sold by the Seller. The Deposit shall become non-refundable after ten business (10) days from the signing of this Agreement. The amount deposited will be held in the Escrow Account until Closing (as hereinafter defined) of this Agreement) or until otherwise released as provided in this Agreement.
(b) The Deposit shall be fully refundable for a period of ten business (10) days from the signing of this Agreement for any reason or no reason (the “Due Diligence Period”). Unless an extension of time is agreed to in writing by both parties, the Purchaser has until close of business (5:00 PM Pacific Standard Time) October 13, 2017 to complete due diligence (SUBJECT ALWAYS TO the Seller making available on a timely basis to the Purchaser and/or his attorney all required documents and/or information which the Purchaser’s attorney has requested or documents and/or information which the Seller is obliged to provide and deliver to enable the Purchaser’s attorney to carry out and complete a due diligence on the Company) and to notify the Escrow Agent in the event the Purchaser wants to cancel the transaction for a full refund of the Deposit. In the event the Escrow Agent fails to receive written notification by the aforementioned time and after the Due Diligence Period, the Deposit will be non-refundable unless the Seller fails to fulfill any of their obligations under this Agreement. In addition, if after signing this Agreement and prior to the Closing, in performing due-diligence, the Purchaser discovers something of significance with respect to the Seller or the Company that is not previously disclosed herein and that changes the structure and intent of this Agreement and the transaction contemplated hereby as defined as Seller’s default (the “Default”), the Purchaser will notify the Seller of the such by written notice given in to the addresses and in the manner provided in Section 6.08 of this Agreement and request refund of the Deposit. The Seller shall have ten (10) days after receiving any such notice to correct the discrepancy, to the extent correctable, to the reasonable satisfaction of the Purchaser or the Deposit will be refunded to the Purchaser by the Escrow Agent. If after the due diligence deadline and b...