Deposit; Payment on Closing Sample Clauses

Deposit; Payment on Closing. (a) No later than the first (1st) Business Day following the date hereof, Buyers shall deposit Fifty Million Dollars $50,000,000.00 with the Deposit Escrow Agent (together with all interest and earnings thereon, the “Deposit”). The Deposit shall be held in a segregated interest-bearing account in accordance with the provisions of a deposit escrow agreement, substantially in the form of Exhibit A (the “Deposit Escrow Agreement”). If the Closing occurs, the Deposit shall be disbursed to Parent at the Closing and shall be applied against the Closing Cash Consideration. For the avoidance of doubt, except in accordance with the express provisions of this Agreement and the Deposit Escrow Agreement, the Deposit shall be held by the Deposit Escrow Agent and shall not be released by the Deposit Escrow Agent unless and until the Closing occurs. Notwithstanding the foregoing, if the Closing does not occur or if this Agreement otherwise terminates, the Deposit shall be disbursed as provided in Section 9.2.
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Deposit; Payment on Closing. (a) No later than the 5:00 P.M. New York time on the date hereof, Buyer shall deposit One Hundred Million Dollars ($100,000,000) with the Deposit Escrow Agent (together with all interest and earnings thereon, the “Deposit”) by wire transfer of immediately available funds. The Deposit shall be allocated on a pro rata basis among the Real Properties in accordance with the Property Allocations. The Deposit shall be held in a segregated interest-bearing account in accordance with the provisions of a deposit escrow agreement, substantially in the form of Exhibit A (the “Deposit Escrow Agreement”). At each Closing, a portion of the Deposit shall be disbursed to Seller, pro rata, in accordance with the Property Allocations of the Real Properties being transferred to Buyer at such Closing, and such disbursement shall be applied against the Closing Cash Payment to be paid to Seller at such Closing; provided, that in no event shall the aggregate amount of the Deposit to be disbursed to Seller at the First Closing and the Second Closing exceed Forty Million Dollars ($40,000,000); provided further that if, as of the Third Closing, the then-remaining Deposit exceeds the Closing Cash Payment to be paid at the Third Closing, then the Deposit Escrow Agent shall only disburse to Seller a portion of the then-remaining Deposit in an amount equal to the Closing Cash Payment to be paid at the Third Closing, and any excess of the then-remaining Deposit thereover shall be disbursed to Buyer at the Third Closing. If any Closing does not occur or if this Agreement otherwise terminates, the then-remaining Deposit shall be disbursed as provided in Section 9.2.
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Deposit; Payment on Closing. (a) Prior to the Closing, Buyer deposited (i) $2,700,000 in the aggregate with Deposit Escrow Agent and (ii) $500,000 in the aggregate with Madison (together with all interest and earnings thereon, the “Deposit”). Deposit Escrow Agent and Madison held the Deposit in segregated interest-bearing accounts, and, pursuant to the Parties’ instructions, released the Deposit to Seller prior to the Closing. At the Closing, the Deposit shall be applied against the Final Purchase Price.
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Related to Deposit; Payment on Closing

  • Payment on Settlement Date On contractual settlement date, the account of the Fund will be charged for all purchased Investments settling on that day, regardless of whether or not delivery is made. Likewise, on contractual settlement date, proceeds from the sale of Investments settling that day will be credited to the account of Fund, irrespective of delivery. Exceptions to contractual settlement on purchases and sales, that will continue to settle delivery versus payment, include real estate, venture capital, international trades, open-ended mutual funds, non standard depository settlements and in-kind trades.

  • Payment on Notes The Company will not, and will not permit any of its Subsidiaries to, enter into, become a party to or otherwise become subject to any agreement, contract or instrument, or any amendments or modifications of the foregoing, the provisions of which would specifically restrict the Company’s ability or obligation to make payments on the Notes or otherwise perform its material obligations under this Agreement and the Note.

  • Repayment on Termination Date The Borrower hereby agrees to repay the outstanding principal amount of (i) all Revolving Credit Loans in full on the Revolving Credit Maturity Date, and (ii) all Swingline Loans in accordance with Section 2.2(b) (but, in any event, no later than the Revolving Credit Maturity Date), together, in each case, with all accrued but unpaid interest thereon.

  • Closing Payment At the Closing, Buyer will pay or cause to be paid to Seller the Closing Payment Amount, by wire transfer of immediately available funds or by such other means as may be agreed upon by Seller and Buyer.

  • Closing Payments At the Closing, Parent shall pay or cause to be paid the following amounts by wire transfers of immediately available funds:

  • Post-Closing Payment Payment to Shareholder of his portion of the Post-Closing Payment shall be made in the same manner as payments under the Additional Short-Term Note.

  • Single Payment Only The parties hereto acknowledge and hereby agree that in no event shall the Company be required to pay the Termination Fee on more than one occasion, whether or not the Termination Fee may be payable under more than one provision of this Agreement at the same or at different times and the occurrence of different events.

  • Statement on Warrants Irrespective of any adjustment in the number or kind of shares issuable upon the exercise of the Warrants or the Exercise Price, Warrants theretofore or thereafter issued may continue to express the same number and kind of shares as are stated in the Warrants initially issuable pursuant to this Agreement.

  • Payment on non-Business Day If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:

  • Payment on Non-Business Days Whenever any payment to be made shall be due on a day which is not a Business Day, such payment may be due on the next succeeding Business Day.

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