Disposition of Deposit. If the Closing occurs, the Deposit shall be applied as a credit to the Property Sale Proceeds at Closing. In all other cases, the Deposit shall be disbursed in accordance with the terms of this Agreement. The provisions of this Section 2.2(c) shall survive any termination of this Agreement.
Appears in 6 contracts
Samples: Asset Purchase and Contribution Agreement (Hersha Hospitality Trust), Asset Purchase and Contribution Agreement (Hersha Hospitality Trust), Asset Purchase and Contribution Agreement (Hersha Hospitality Trust)
Disposition of Deposit. If the Closing occurs, the Deposit shall be applied as a credit to the Property Sale Proceeds Purchase Price at Closing. In all other cases, the Deposit shall be disbursed in accordance with the terms of this Agreement. The provisions of this Section 2.2(c) shall survive any termination of this Agreement. Purchaser hereby acknowledges and agrees that after the expiration of the Due Diligence Period, if Purchaser has not terminated this Agreement, the Deposit shall be non-refundable to Purchaser, except as specifically set forth herein.
Appears in 2 contracts
Samples: Hotel Purchase and Sale Agreement, Hotel Purchase and Sale Agreement (Sotherly Hotels Lp)
Disposition of Deposit. If the Closing occurs, the Deposit shall be applied as a credit to the Property Sale Proceeds at Closing. In all other cases, the Deposit shall be 12 disbursed in accordance with the terms of this Agreement. The provisions of this Section 2.2(c) shall survive any termination of this Agreement.
Appears in 1 contract
Samples: Asset Purchase and Contribution Agreement (Hersha Hospitality Trust)
