Deposit of Xxxxxxx Money. (a) No later than the second Business Day following the Effective Date, Purchaser shall deposit with Chicago Title Insurance Company (the “Escrow Agent”), having its office at x/x Xxxxxxxxxx, XX National Commercial Center, 0000 Xxxxxxxxxxxx Xxxxxx, XX, Xxxxx 000, Xxxxxxxxxx, XX 00000, Attn: Xxxx Xxxxxx, the sum of SIX MILLION THREE HUNDRED FIFTY-FIVE THOUSAND EIGHT HUNDRED THIRTY AND NO/100 DOLLARS ($6,355,830.00) (the “First Aggregate Deposit”), in good funds, by federal wire transfer.
(b) If Purchaser does not exercise the right to terminate this Agreement in accordance with Section 4.3 below, Purchaser shall, within five (5) Business Days following the Inspection Expiration Date, deposit with the Escrow Agent the additional sum of SIX MILLION THREE HUNDRED FIFTY-FIVE THOUSAND EIGHT HUNDRED THIRTY AND NO/100 DOLLARS ($6,355,830.00) (the “Second Aggregate Deposit”), in good funds, by federal wire transfer as an additional deposit under this Agreement. The First Aggregate Deposit and the Second Aggregate Deposit are herein referred to collectively as the “Aggregate Deposit.” The Aggregate Deposit has been allocated to each Company as set forth on Schedule 2.5(b) attached hereto and made a part hereof. The portion of the Aggregate Deposit allocated to a Company as set forth on Schedule 2.5(b) is referred to herein as a “Deposit.”
(c) The Escrow Agent shall hold the Aggregate Deposit in a non-interest‑bearing account, in accordance with the terms and conditions of this Agreement, and each Deposit shall be distributed in accordance with the terms of this Agreement. If Purchaser shall fail to timely deliver the First Deposit or the Second Deposit as required by this Agreement, this Agreement shall automatically terminate, in which event Escrow Agent shall promptly return any portion of the Aggregate Deposit then in its possession to Purchaser and thereafter neither party shall have any further rights, obligations or liabilities hereunder except for any obligations that expressly survive the termination of this Agreement.
Deposit of Xxxxxxx Money. Upon execution of this Contract, Buyer will deposit Xxxxxxx Money in good funds in the amount of $5,000.00, along with this fully executed Contract by Seller and Buyer with Nacogdoches Heritage Title (the “Title Company”), as escrow agent, located at 000 X. Xxxxxxxx Xxxxxx, Xxxxxxxxxxx, Xxxxx, which sum may be invested by the Title Company in a federally insured, interest-bearing account pending disposition thereof in accordance with this Contract (such sum and the interest accrued thereon being hereinafter referred to collectively as the “Xxxxxxx Money”) and applied according to the terms of this Contract. The Title Company will acknowledge receipt of the Xxxxxxx Money by signing Title Company’s “Receipt for Xxxxxxx Money Deposit” at the end of this Contract and send copies thereof to Seller and Buyer.
Deposit of Xxxxxxx Money. Within two (2) business days (in this Agreement, a business day shall mean any day of the year other than any Saturday or Sunday or any other day on which banks located in San Diego, California generally are closed for business) after the Effective Date, Purchaser shall deposit $250,000 in cash (such amount, including any interest earned thereon, the “Xxxxxxx Money”) with the Escrow Agent (as defined below). The Escrow Agent shall hold and disburse the Xxxxxxx Money in accordance with the escrow provisions in Exhibit B. Prior to the expiration of the Due Diligence Period (as defined below), the Xxxxxxx Money shall be promptly returned to Purchaser upon termination of this Agreement pursuant to Section 2.2. Following the expiration of the Due Diligence Period, the Xxxxxxx Money shall be non-refundable, except as otherwise provided herein. Seller shall not deliver any instruction to the Escrow Agent calling for disbursement of the Xxxxxxx Money to Seller except following the occurrence of Purchaser’s default hereunder and the expiration of any applicable cure period or as otherwise expressly provided in this Agreement, and Seller further agrees to provide Purchaser with a copy of such instruction concurrently with the delivery thereof to the Escrow Agent. Provided such supplemental escrow instructions are not in conflict with this Agreement as it may be amended in writing from time to time, Seller and Purchaser agree to execute such supplemental escrow instructions as may be appropriate to enable Escrow Agent to comply with the terms of this Agreement.
Deposit of Xxxxxxx Money. Within two business days after the Effective Date, Purchaser shall deposit Five Million Dollars ($5,000,000) in immediately available funds (such amount the “Xxxxxxx Money”) with Escrow Agent, evidencing Purchaser’s good faith to perform Purchaser’s obligations under this Contract. If Purchaser fails to timely deposit the Xxxxxxx Money with the Escrow Agent, this Contract shall terminate and be of no force and effect. The Escrow Agent shall hold and disburse the Xxxxxxx Money in accordance with the terms and provisions of this Contract. If the Closing under this Contract occurs, the Escrow Agent shall deliver the Xxxxxxx Money into the closing escrow with Title Company, to be applied against the Purchase Price. All interest earned on the Xxxxxxx Money shall in all events be the money of Purchaser, regardless of the ultimate disposition of the Xxxxxxx Money and shall be paid to Purchaser upon written request of Purchaser.
Deposit of Xxxxxxx Money. Purchaser shall deposit with Escrow Agent the amount of $5,000,000 (the “Deposit”) by 5:00 pm EST on the day that is one (1) Business Day after the execution and delivery of this Agreement by the Parties. If Purchaser does not make the Deposit by said time, Seller, at its option, may terminate this Agreement by providing written notice to Purchaser delivered to Purchaser before Purchaser’s deposit of the Deposit. The Deposit shall be held by Escrow Agent in escrow as Xxxxxxx Money under this Agreement pursuant to the escrow agreement in the form attached hereto as Exhibit A, to be entered into among Seller, Purchaser and Escrow Agent (the “Xxxxxxx Money Escrow Agreement”).
Deposit of Xxxxxxx Money. Purchaser shall deposit with Escrow Agent the amount of Ten Million and 00/100 Dollars ($10,000,000.00) (the “Deposit”) within two (2) Business Days after the execution and delivery of this Agreement by the Parties. The Deposit shall be held by Escrow Agent in escrow as xxxxxxx money pursuant to the escrow agreement in the form attached hereto as Exhibit A, to be entered into among Seller, Purchaser and Escrow Agent (the “Xxxxxxx Money Escrow Agreement”), and delivered to Escrow Agent concurrently with the Deposit. If the Purchaser terminates this Agreement pursuant to the Due Diligence Contingency in accordance with Section 4.1.1, the Deposit shall be refunded to Purchaser in accordance with Section 3.2.4. If Purchaser does not terminate this Agreement pursuant to the Due Diligence Contingency, the Deposit shall be non refundable to Purchaser, except as otherwise expressly provided in this Agreement.
Deposit of Xxxxxxx Money. Purchaser shall deposit with Escrow Agent the amount of One Million and no/100 Dollars ($1,000,000.00) (the “Initial Deposit”) within two (2) Business Days after the execution and delivery of this Agreement by the Parties. The Initial Deposit shall be held by Escrow Agent in escrow as xxxxxxx money pursuant to the escrow agreement in the form attached hereto as Exhibit A, to be entered into among Seller, Purchaser and Escrow Agent (the “Xxxxxxx Money Escrow Agreement”), and delivered to Escrow Agent concurrently with the Initial Deposit. If Purchaser terminates this Agreement pursuant to the Due Diligence Contingency in accordance with Section 4.1.1, the Initial Deposit shall be refunded to Purchaser in accordance with Section 3.2.4. If Purchaser does not terminate this Agreement pursuant to the Due Diligence Contingency, then (i) Purchaser shall deposit with Escrow Agent the amount of One Million Five Hundred Thousand and no/100 Dollars ($1,500,000.00) within two (2) Business Days after the expiration of the Due Diligence Period (the “Additional Deposit”), which shall be held by Escrow Agent as additional xxxxxxx money pursuant to the Xxxxxxx Money Escrow Agreement, and (ii) the Initial Deposit and Additional Deposit shall be non refundable to Purchaser, except as otherwise expressly provided in this Agreement.
Deposit of Xxxxxxx Money. Purchaser shall deposit with Escrow Agent the amount of Five Million Five Hundred Thousand and 00/100 Dollars ($5,500,000.00) (the “Deposit”) within two (2) Business Days after the execution and delivery of this Agreement by the Parties. The Deposit shall be held by Escrow Agent in escrow as xxxxxxx money pursuant to the escrow agreement in the form attached hereto as Exhibit A, to be entered into among Seller, Purchaser and Escrow Agent (the “Xxxxxxx Money Escrow Agreement”), and delivered to Escrow Agent concurrently with the Deposit. The Deposit shall be non-refundable to Purchaser, except as otherwise expressly provided in this Agreement.
Deposit of Xxxxxxx Money. Within two business days (in this Agreement, a business day shall mean any day of the year other than any Saturday or Sunday or any other day on which banks located in Seattle, Washington generally are closed for business) after the Effective Date, Purchaser shall deposit $200,000 in cash (such amount, including any interest earned thereon, the "Xxxxxxx Money") with Escrow Agent. The Escrow Agent shall hold and disburse the Xxxxxxx Money in accordance with the escrow provisions in EXHIBIT C. The Xxxxxxx Money shall be promptly returned to Purchaser upon any termination of this Agreement other than by reason of Purchaser's default. Seller agrees that it shall not deliver any instruction to the Escrow Agent calling for disbursement of the Xxxxxxx Money to Seller except following the occurrence of Purchaser's default hereunder and the expiration of any applicable cure period, and Seller further agrees to provide Purchaser with a copy of such instruction concurrently with the delivery thereof to the Escrow Agent. Provided such supplemental escrow instructions are not in conflict with this Agreement as it may be amended in writing from time to time, Seller and Purchaser agree to execute such supplemental escrow instructions as may be appropriate to enable Escrow Agent to comply with the terms of this Agreement.
Deposit of Xxxxxxx Money. Within two (2) days following the Effective Date, Purchaser shall deposit with Escrow Agent an amount equal to One Million and 00/100 Dollars ($1,000,000) (“Initial Deposit”) pursuant to that certain Escrow Agreement, dated of even date herewith, among Seller, Purchaser and Escrow Agent in the form attached hereto as Exhibit A (“Escrow
