Common use of Disposition of Earnest Money Clause in Contracts

Disposition of Earnest Money. The Earnest Money shall be applied as a credit to the Pxxxxxxx Price at Clxxxxx. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.5, Escrow Agent shall pay the entire Earnest Money to Purchaser one (1) business day following receipt of txx Xxx Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and disbursed in one business day). No notice to Escrow Agent from Seller shall be required for the release of the Earnest Money to Purchaser by Escrow Agent if Purchaser terminates thix Xxxxxment pursuant to Section 4.5. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.5, Escrow Agent is authorized to deliver the Earnest Money to the party hereto entitled to same pursuant to the terxx xxxxof on or before the tenth (10th) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest Money. In such event, Escrow Agent may interplead the Earnest Xxxxx xnto a court of xxmpetent jurisdiction in the county in which the Earnest Money has been deposited. All reasonable attorneys' fees and cxxxx xxd Escrow Agent's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Money is distributed in part to both xxxxxxx, then in the invexxx xxxportion of such distribution.

Disposition of Earnest Money. The Earnest Money shall Money, and, if applicable, any Additional Earnest Monex, xxxll be applied as a credit to the Pxxxxxxx Price Purchase Xxxxx at ClxxxxxClosing. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.54.3, Escrow Agent shall pay the entire Earnest Money (less the Independent Consideration and one-half ox xxx xscrow fees charged by Escrow Agent, but together with any and all interest accrued thereupon) to Purchaser one (1) business day Business Day following Escrow Agent's receipt of txx Xxx the timely Due Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and disbursed in one business dayBusiness Day). No notice to Escrow Agent from Seller shall be required for the release of the Earnest Money to Purchaser by Escrow Agent if Purchaser terminates thix Xxxxxment terminxxxx xxis Agreement pursuant to Section 4.54.3. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.54.3, Escrow Agent is authorized to deliver the Earnest Money to the party hereto entitled to same pursuant to the terxx xxxxof xxx xxrms hereof on or before the tenth (10th) business day Business Day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest Money. In such event, Escrow Agent may interplead the Earnest Xxxxx xnto txx Xxxnest Money into a court of xxmpetent competent jurisdiction in the county in couxxx xx which the Earnest Money has been deposited. All reasonable attorneys' fees and cxxxx xxd Escrow costx xxx Xscrow Agent's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Money is distributed in part to both xxxxxxxtx xxxx parties, then in the invexxx xxxportion thx xxxxxse proportion of such distribution.

Disposition of Earnest Money. The Earnest Money shall be applied as a credit to the Pxxxxxxx txx Xxxxhase Price at Clxxxxxax Xxxxxng. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.5, Escrow Agent shall pay the entire Earnest Money to Purchaser one (1) business day following receipt of txx Xxx xx xxx Due Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and disbursed in one business day). No notice to Escrow Agent from Seller shall be required for the release of the Earnest Money to Purchaser by Escrow Agent if Purchaser terminates thix Xxxxxment this Agreement pursuant to Section 4.5. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.5, Escrow Agent is authorized to deliver the Earnest Money to the party hereto entitled to same pursuant to the terxx xxxxof xxxxx hereof on or before the tenth (10th) business day following receipt by Escrow Agent and the non-terminating nonterminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest Money. In such event, Escrow Agent may interplead the Earnest Xxxxx xnto Earnxxx Xxxey into a court of xxmpetent competent jurisdiction in the county in which xx xxxch the Earnest Money has been deposited. All reasonable attorneys' fees axx xxxxs and cxxxx xxd Escrow Agent's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Money is distributed in part to both xxxxxxxbxxx xxxties, then in the invexxx xxxportion xxxxxxx proportion of such distribution.

Disposition of Earnest Money. The Earnest Money Xxxxx shall be applied as appxxxx xx a credit to the Pxxxxxxx Purchase Price at ClxxxxxClosing. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.5, Escrow Agent shall pay the entire Earnest Money (less an amxxxx xxual to the Termination Reimbursement) to Purchaser one (1) business day following receipt of txx Xxx the Due Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and disbursed in one business day). No notice to Escrow Agent from Seller shall be required for the release of the Earnest Money (less an amxxxx xxual to the Termination Reimbursement) to Purchaser by Escrow Agent if Purchaser terminates thix Xxxxxment this Agreement pursuant to Section 4.5. Notwithstanding anything herein to the contrary, in all events where the Earnest Money is to be rexxxxxx to Purchaser, other than in case of Seller's default hereunder, a portion of the Earnest Money equal to xxx Xxxmination Reimbursement shall be delivered to Seller as reimbursement to Seller pursuant to Section 12.20. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.5, Escrow Agent is authorized to deliver the Earnest Money (or portion xxxxxxx) to the party hereto entitled to same pursuant to the terxx xxxxof terms hereof on or before the tenth fifth (10th5th) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest MoneyMoney (or portion xxxxxxf). In such event, Escrow Agent may interplead the Earnest Xxxxx xnto Money (or portion xxxxxxx in dispute) into a court of xxmpetent competent jurisdiction in the county in which the Earnest Money has been depositeddxxxxxxxd. All reasonable attorneys' fees and cxxxx xxd costs and Escrow Agent's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Xxxxxxx Money is distributed distrixxxxx in part to both xxxxxxxparties, then in the invexxx xxxportion inverse proportion of such distribution.

Disposition of Earnest Money. The Earnest Money Earnesx Xxxxx shall be applied as appxxxx xx a credit to the Pxxxxxxx Purchase Price at ClxxxxxClosing. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.5, Escrow Agent shall pay the entire Earnest Money to Purchaser one Purchasex xxx (1) business day following receipt of txx Xxx the Due Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and disbursed in one business day). No notice to Escrow Agent from Seller shall be required for the release of the Earnest Money to Purchaser by Escrow Purchasex xx Xxcrow Agent if Purchaser terminates thix Xxxxxment this Agreement pursuant to Section 4.5. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.5, Escrow Agent is authorized to deliver the Earnest Money to the party hereto partx xxxxxo entitled to same pursuant to the terxx xxxxof terms hereof on or before the tenth (10th) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest Money. In such eventxxxxx, Escrow Agent may interplead the Earnest Xxxxx xnto Money into a court of courx xx xxmpetent jurisdiction in the county in which the Earnest Money has been depositeddxxxxxxxd. All reasonable attorneys' fees and cxxxx xxd costs and Escrow Agent's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Xxxxxst Money is distributed in distribxxxx xn part to both xxxxxxxparties, then in the invexxx xxxportion inverse proportion of such distribution.

Disposition of Earnest Money. The Earnest Money shall be applied as a credit to the Pxxxxxxx Price at Clxxxxx. However, if Purchaser elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.5, Escrow Agent shall pay the entire Earnest Money to Purchaser one (1) business day following receipt of txx Xxx Diligence Termination Notice from Purchaser (as long as the current investment can be liquidated and disbursed in one business day). No notice to Escrow Agent from Seller shall be required for the release of the Earnest Money to Purchaser by Escrow Agent if Purchaser terminates thix Xxxxxment pursuant to Section 4.5. In the event of a termination of this Agreement by either Seller or Purchaser for any reason other than pursuant to Section 4.5, Escrow Agent is authorized to deliver the Earnest Money to the party hereto entitled to same pursuant to the terxx xxxxof on or before the tenth (10th) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest Money. In such event, Escrow Agent may interplead the Earnest Xxxxx xnto a court of xxmpetent competent jurisdiction in the county in which the xxxxx xhe Earnest Money has been deposited. All reasonable attorneys' fees and cxxxx xxd Escrow Agent's costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Money is distributed in part to both xxxxxxx, then in the invexxx xxxportion of such distribution.