Deposit 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 satisfactory to Sellers and Buyer, shall not commingle the Xxxxxxx Money, and shall promptly provide Buyer and Sellers with confirmation of the investments made. Such account shall have no penalty for early withdrawal. Any interest actually earned on the Xxxxxxx Money during the period the same is held by the Escrow Agent shall be added to and become a part of the Xxxxxxx Money and shall accrue to the benefit of the party entitled to receive or apply the Xxxxxxx Money. The Xxxxxxx Money and all interest accrued thereon shall be non-refundable to Buyer for any reason whatsoever, except and only if:
(i) this Agreement is terminated by Buyer prior to the expiration of the Inspection Period pursuant to Sections 4.3 or 5.3, in which case the Non-Refundable Xxxxxxx Money shall be paid to Sellers and the balance of the Xxxxxxx Money shall be returned to Buyer as provided in Section 3.3;
(ii) this Agreement is terminated by Buyer pursuant to Sections 5.5, 5.6, 6.2, 6.3, or 7.2, in which case the Non-Refundable Xxxxxxx Money shall be paid to Sellers and the balance of the Xxxxxxx Money shall be returned to Buyer as provided in Section 3.3;
(iii) this Agreement is terminated by Buyer pursuant to Section 10.2 or by Sellers pursuant to Section 6.2, in which case the entire Xxxxxxx Money shall be returned to and retained by Buyer (following the expiration of the Void Period (as defined in Section 6.2), in the case of any termination by Sellers pursuant to Section 6.2) as provided in Section 3.3; or
(iv) this Agreement is terminated by Buyer pursuant to Section 7.2 as a result of Seller’s failure to deliver the Conforming Tenant Estoppel (hereinafter defined), in which case the entire Xxxxxxx Money shall be returned to and retained by Buyer as provided in Section 3.3;
(v) this Agreement is terminated by Sellers or Buyer (other than by Buyer or Sellers pursuant to the Sections described in clauses (i), (ii) or (iii) of this Section 3.1 or by Sellers pursuant to Section 10.1), in which case the Non-Refundable Xxxxxxx Money shall be paid to Sellers and the balance of the Xxxxxxx Money shall be returned to Buyer as provided in Section 3.3.
Deposit of Xxxxxxx Money. Upon execution of this Contract, Buyer will deposit Xxxxxxx Money in good funds in the amount of $5,000.00, along with this fully executed Contract by Seller and Buyer with Nacogdoches Heritage Title (the “Title Company”), as escrow agent, located at 000 X. Xxxxxxxx Xxxxxx, Xxxxxxxxxxx, Xxxxx, which sum may be invested by the Title Company in a federally insured, interest-bearing account pending disposition thereof in accordance with this Contract (such sum and the interest accrued thereon being hereinafter referred to collectively as the “Xxxxxxx Money”) and applied according to the terms of this Contract. The Title Company will acknowledge receipt of the Xxxxxxx Money by signing Title Company’s “Receipt for Xxxxxxx Money Deposit” at the end of this Contract and send copies thereof to Seller and Buyer.
Deposit of Xxxxxxx Money. Within two (2) business days (in this Agreement, a business day shall mean any day of the year other than any Saturday or Sunday or any other day on which banks located in generally are closed for business) after the Effective Date, Purchaser shall deposit ($ ) 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. 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. Purchaser shall deposit with Escrow Agent the amount of Two Million Five Hundred Thousand and no/100 Dollars ($2,500,000.00) (such amount, less Five Hundred and no/100 Dollars ($500.00) which will be retained by Seller in all events as independent consideration (the “Independent Consideration”) for this Agreement, the “Initial Deposit”) no later than 5:00 p.m. (Eastern Time) on the date three (3) 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 before or concurrently with the Initial Deposit. If Purchaser terminates this Agreement pursuant to the Due Diligence Contingency in accordance with Section 4.1, 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 Purchaser shall deposit with Escrow Agent the amount of Two Million Five Hundred Thousand and no/100 Dollars ($2,500,000.00) (the “Additional Deposit”) no later than 5:00 p.m. (Eastern Time) on the last day of the Due Diligence Period, which Additional Deposit shall be held by Escrow Agent as additional xxxxxxx money pursuant to the Xxxxxxx Money Escrow Agreement, and the Xxxxxxx Money 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 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 $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. 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
Deposit of Xxxxxxx Money. Within two (2) business days after the Effective Date, Purchaser shall deposit One Million Dollars ($1,000,000.00) in immediately available funds (such amount together with all interest or other earnings thereon and any additional payment being collectively 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, then 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 or other earnings applicable to the Xxxxxxx Money shall be and become a part of the Xxxxxxx Money.
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 TWO HUNDRED FIFTY THOUSAND DOLLARS ($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. 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. 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.