Downpayment. The party or parties hereunder that shall be entitled to receive the Downpayment shall receive all interest that shall have accrued thereon; provided, however, that if the Closing shall occur, the amount of any interest earned on the Downpayment shall be credited in favor of Cedar against the Balance of the Initial Funding Amount. The Downpayment, together with all interest thereon, shall be held by Escrow Agent in accordance with Article IX hereof.
Appears in 4 contracts
Samples: Contribution Agreement (Cedar Shopping Centers Inc), Contribution Agreement (Cedar Shopping Centers Inc), Recapitalization Agreement (Cedar Shopping Centers Inc)
Downpayment. The party or parties hereunder that shall be entitled to receive the Downpayment shall receive all interest that shall have accrued thereon; provided, however, that if the Closing shall occur, the amount of any interest earned on the Downpayment shall be credited in favor of Cedar Buyer against the Balance of the Initial Funding AmountBalance. The Downpayment, together with all interest thereon, shall be held by Escrow Agent in accordance with Article IX hereof.
Appears in 1 contract
Samples: Agreement of Purchase and Sale (Cedar Shopping Centers Inc)
