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 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 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. 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. The xxxxxxx money shall be deposited into Holder’s escrow/trust account (with Holder being permitted to retain the interest if the account is interest bearing) not later than five (5) banking days from the Binding Agreement date hereunder; or the date it is actually received by Holder if it is received after the Binding Agreement date. If Buyer writes a check for xxxxxxx money and the same is deposited into Holder’s escrow/trust account, Holder shall not return the xxxxxxx money until the check has cleared the account on which the check was written. In the event any xxxxxxx money check is dishonored by the bank upon which it is drawn, or xxxxxxx money is not timely paid, Holder shall promptly give notice of the same to Buyer and Seller. Buyer shall have three (3) banking days from the date of receiving the notice to cure the default and if Buyer does not do so, Seller may within seven (7) days thereafter terminate this Agreement upon notice to Buyer. If Seller fails to terminate the Agreement timely, Seller’s right to terminate based on the default shall be waived. PURCHASE AND SALE AGREEMENT
Deposit of Xxxxxxx Money. Purchaser shall deposit with Escrow Agent the amount of One Million Six Hundred Ninety Five Thousand and no/100 Dollars ($1,695,000.00) (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. (i) Within two (2) Business Days following the Effective Date, Purchaser shall deposit with Escrow Agent the amount of Fifteen Million and 00/100 Dollars ($15,000,000.00) (the “Deposit”) to be held by Escrow Agent in escrow as xxxxxxx money pursuant to the escrow agreement in the form attached hereto as Exhibit A (the “Xxxxxxx Money Escrow Agreement”). 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) 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. Simultaneously with the execution of this Agreement, Purchaser shall deliver to Xxxxxxxx X. Xxxx, Esq., 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx ("Escrow Agent"), as "Xxxxxxx Money" the sum of ONE THOUSAND DOLLARS ($1,000.00). The Xxxxxxx Money shall be held by Escrow Agent in an interest-bearing escrow account, subject to the terms of this Agreement, and shall be duly accounted for at the Closing. All interest earned on the Xxxxxxx Money is to be accounted for and allocated to the Purchaser if the Closing occurs; or paid to Purchaser if the Xxxxxxx Money is returned to Purchaser under the terms of this Agreement; or if Seller shall retain the Xxxxxxx Money under the provisions of Section 3(f) hereof, then the entire amount of interest earned shall be paid to Seller. Said escrow account shall be maintained by the Escrow Agent until such time as the Xxxxxxx Money and the interest thereon have been delivered to the Purchaser, the Seller, or a court of competent jurisdiction in accordance with the provisions of the Agreement, and shall terminate on the date of such delivery.
