Earnxxx Xxxey. Within two (2) business days after final execution of this Contract by all parties hereto, Purchaser shall deliver Purchaser's check in the amount of Twenty-Five Thousand and No/100 Dollars ($25,000.00) to Safeco Land Title of Dallas, 5220 Renaissance Tower, 1201 Xxx Xxxxxx, Xxxxxx, Xxxxx 00000, Xxtn: Bobbxx Xxxxx (xxe "Title Company"). The Title Company shall immediately cash the earnxxx xxxey check and deposit the proceeds thereof in an interest bearing account, the earnings from which shall accrue to the benefit of Purchaser (hereinafter the proceeds of the earnxxx xxxey check shall be referred to as the "earnxxx xxxey"). If Purchaser does not terminate this Contract during the Inspection Period (as defined in Article VI hereinbelow), then, within two (2) business days after the expiration of the Inspection Period, Purchaser will deposit with the Title Company the additional sum of Seventy-Five Thousand and No/100 Dollars ($75,000.00) in cash, which sum shall be added to and become a part of the earnxxx xxxey. Upon receipt of the second earnxxx xxxey deposit from Purchaser, the Title Company shall immediately disburse the entire $100,000.00 earnxxx xxxey deposit to Seller; upon such disbursement the $100,000.00 earnxxx xxxey deposit shall be non-refundable to the Purchaser except in the event of a default by Seller hereunder, but, if this Contract closes, then the entire $100,000.00 earnxxx xxxey deposit shall be applied in partial satisfaction of the purchase price payable at closing. In the event that this Contract is not closed, then the earnxxx xxxey shall be disbursed in the manner provided for elsewhere herein. Notwithstanding the foregoing or anything to the contrary contained elsewhere in this Contract, it is understood and agreed that One Hundred Dollars ($100.00) of the earnxxx xxxey shall in all events be delivered to Seller as valuable consideration for the Inspection Period described in Article VI hereinbelow and the execution of this Contract by Seller.
Earnxxx Xxxey. Upon the execution of this Agreement, Highwoods will deliver to Chicago Title Insurance Company (hereinafter referred to as the "Escrow Agent") the sum of Fifty Thousand and no/100 Dollars ($50,000.00) (hereinafter the "Initial Earnxxx Xxxey"). The Initial Earnxxx Xxxey shall be deposited by the Escrow Agent into an interest bearing account at the direction of Highwoods, and shall be paid to Owner or Highwoods according to the provisions set forth below. If Highwoods has not terminated this Agreement prior to the end of the Inspection Period as defined in Section 7 below, Highwoods shall deposit an additional Fifty Thousand and no/100 Dollars ($50,000.00) (hereinafter, the "Additional Earnxxx Xxxey") with the Escrow Agent by 5:00 p.m. on the first business day immediately following the Inspection Period. The Additional Earnxxx Xxxey shall be deposited by the Escrow Agent into an interest bearing account at the direction of Highwoods, and shall be paid to Owner or Highwoods according to the provisions set forth below. The Initial Earnxxx Xxxey and the Additional Earnxxx Xxxey are collectively referred to herein as the "Earnxxx Xxxey." In the event the transaction contemplated by this Agreement closes or should this transaction not close solely because of any default on the part of Owner, or if any of the conditions precedent set forth in Section 8 fail to be satisfied at Closing, or if Highwoods terminates its obligations set forth herein pursuant to any other provision of this Agreement, then the Escrow Agent shall pay to Highwoods all Earnxxx Xxxey, including interest which has accrued thereon, but such return shall not affect any other remedies available to Highwoods, as specified and limited in this Agreement, in the event of a breach of this Agreement by Owner; provided, in the event Highwoods terminates this Agreement pursuant to Section 7 hereof, $100 of the Earnxxx Xxxey should be paid to Owner as consideration for Highwoods' right to terminate this Agreement pursuant to Section 7. In the event the transaction contemplated by this Agreement is not closed solely because of any default on the part of Highwoods, then the Escrow Agent shall pay to Owner all Earnxxx Xxxey, including interest which has accrued thereon, and such payment shall be and represent liquidated damages arising out of Highwoods' default, which liquidated damages shall be the full extent of Highwoods' liability with respect to such default and Owner shall have no further right or cl...
Earnxxx Xxxey. Within two (2) business days after final execution of this Contract by all parties hereto, Purchaser shall deliver Purchaser's check in the amount of One Hundred Thousand and No/100 Dollars ($100,000.00) to Safeco Land Title of Dallas, 5220 Renaissance Tower, 1201 Xxx Xxxxxx, Xxxxxx, Xxxxx 00000, Xxtn: Bobbxx Xxxxx (xxe "Title Company"). The Title Company shall immediately cash the earnxxx xxxey check and deposit the proceeds thereof in an interest bearing account, the earnings from which shall accrue to the benefit of Purchaser (hereinafter the proceeds of the earnxxx xxxey check shall be referred to as the "earnxxx xxxey"). In the event that this Contract is closed, then all earnxxx xxxey shall be applied in partial satisfaction of the purchase price. In the event that this Contract is not closed, then the earnxxx xxxey shall be disbursed in the manner provided for elsewhere herein. Notwithstanding the foregoing or anything to the contrary contained elsewhere in this Contract, it is understood and agreed that One Hundred Dollars ($100.00) of the earnxxx xxxey shall in all events be delivered to Seller as valuable consideration for the inspection period described in Article VI hereinbelow and the execution of this Contract by Seller.
Earnxxx Xxxey. Purchaser has delivered to Seller the Earnxxx Xxxey deposit of Fifty Thousand and No/100 Dollars ($50,000.00). If the transactions contemplated by this Agreement are consummated, the Earnxxx Xxxey shall be delivered to Seller at Closing (as hereinafter defined) and applied against the Purchase Price. If sale fails to close for any reason other than Purchaser's default, the Earnxxx Xxxey shall be refunded to Purchaser. If Purchaser elects not to close for any reason other than: (i) Seller's default; or (ii) failure to satisfy the approvals required in Section 4.1, below; the Earnxxx Xxxey shall be paid to Seller as full and complete liquidated damages in full relief and discharge of any and all obligations of Purchaser hereunder. Upon execution of this Agreement, Purchaser has delivered to Seller, and Seller acknowledges receipt of, One Hundred and no/100 Dollars ($100.00) (the "Independent Consideration"), as consideration for Purchaser's right to purchase the Assets and for Seller's execution, delivery and performance of this Agreement. The Independent Consideration is in addition to and independent of any other consideration or payment provided for in this Agreement, is non-refundable and shall be retained by Seller notwithstanding any other provision of this Agreement.
Earnxxx Xxxey. (a) Concurrently with the execution of this Agreement, Buyer has deposited with Escrow Agent under the Escrow Agreement, in immediately available funds, the Earnxxx Xxxey. The Escrow Agent shall hold the Earnxxx Xxxey under the terms of the Escrow Agreement in trust for the benefit of the parties hereto. Interest and other earnings on the Earnxxx Xxxey shall be distributed by the Escrow Agent to Buyer from time to time upon the request of Buyer.
(b) If Closing does not occur, the Earnxxx Xxxey shall be delivered to Seller or returned to Buyer in accordance with Section 10.2, and if Closing ------------ does occur, the Earnxxx Xxxey shall be applied to payment of the Purchase Price at Closing as provided in Section 2.5. -----------
Earnxxx Xxxey. Upon execution of this Agreement, Purchaser shall deliver to Dodsxx, Xxldxxx & Xoroxxx, X.L.P. ("Escrow Agent"), the sum of SEVENTY-FIVE THOUSAND DOLLARS ($75,000.00) in cash (the "Earnxxx Xxxey'). If the sale of the Property is consummated pursuant to the terms of this Agreement, the Earnxxx Xxxey shall be retained by Seller and applied to the payment of the Purchase Price. If Purchaser terminates this Agreement in accordance with any right to terminate granted by this,Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, and no party hereto shall have any further obligations under this Agreement. Except as otherwise provided herein, in the event the sale of the Property is not consummated after Purchaser has approved the matters set forth in Section 4.1 and 4.2 of this Agreement, all Earnxxx Xxxey deposited hereunder shall be retained by Seller, and no party shall have any further obligations under this Agreement. Seller and Purchaser shall enter into an Escrow Agreement with Escrow Agent in the form attached hereto as Exhibit "B" with regard to the Earnxxx Xxxey.
Earnxxx Xxxey. (a) Concurrently with the execution of this Agreement, Buyer shall deposit the Deposit Letter of Credit with the Escrow Agent to be held in escrow in accordance with the Deposit Escrow Agreement.
(b) Subject to satisfaction of the conditions to the obligations set forth in Article VIII, at the Closing, Seller shall instruct the Escrow Agent to release and return the Deposit Letter of Credit to Buyer for cancellation.
(c) If this Agreement is terminated as provided in Section 10.1, Buyer and Seller shall instruct the Escrow Agent to release the Deposit Letter of Credit to Buyer or to Seller, all as provided in Section 10.2.
Earnxxx Xxxey. No earnxxx xxxey will be deposited by Buyer.
Earnxxx Xxxey. Upon the execution of this Agreement, Buyer has deposited into escrow with Bank One, N.A. in Fort Worth, Texas (the "Escrow Agent"), Six Million One Hundred Thousand and No/100 Dollars ($6,100,000.00) as earnxxx xxxey (the "Earnxxx Xxxey"). At closing, the Earnxxx Xxxey, less any costs or fees incurred, plus any interest earned thereon shall be applied against the Purchase Price. If this transaction fails to close due to any breach by Buyer of the terms, conditions, representations and warranties found in this Agreement, then at the election of Seller, the Earnxxx Xxxey and all interest earned thereon may be delivered to Seller as liquidated damages. If this transaction fails to close, due to any breach by Seller of the terms, conditions, representations and warranties found in this Agreement, then the Earnxxx Xxxey and all interest earned thereon shall be delivered to Buyer. If this transaction fails to close for any other reason whatsoever, then the Earnxxx Xxxey and all interest earned thereon shall be delivered to Buyer. Seller and Buyer agree to give the Escrow Agent joint instructions for the delivery of the Earnxxx Xxxey, together with any interest earned thereon, in accordance with the terms of this Agreement
Earnxxx Xxxey. Within three (3) days after the Effective Date (hereinafter defined), Purchaser shall deliver to Fidelity National Title Insurance Company, 2 Paxx Xxxxxx, 0xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, Xxtention: Dianx X. Xxxxxxxx (xxe "Escrow Agent"), the sum of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) in immediately available federal funds to be held by the Escrow Agent in a federally insured, interest bearing trust account satisfactory to Purchaser (the "First Deposit"). Provided Purchaser does not terminate this Agreement pursuant to Section 4.6 hereof, Purchaser shall deposit with Escrow Agent the additional sum of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) within two (2) business days following the expiration of the Inspection Period (the "Second Deposit"). The First Deposit and the Second Deposit (collectively, together with accrued interest therein, herein called the "Earnxxx Xxxey") shall be held by Escrow Agent and disbursed or applied by Escrow Agent in accordance with the provisions of this Agreement. All interest accrued on the Earnxxx Xxxey shall be reported under Purchaser's federal tax identification number. If the sale of the Assets is not consummated, the Earnxxx Xxxey shall be disbursed in strict accordance with the terms hereof to Purchaser, or delivered to Seller as liquidated damages as herein provided. If the sale of the Assets is consummated, the Earnxxx Xxxey shall be applied to the Purchase Price. A fully executed copy of this Agreement shall be deposited with Escrow Agent, and Escrow Agent is hereby appointed and designated to act as escrow agent and is authorized and instructed to hold the Earnxxx Xxxey and to distribute or apply the Earnxxx Xxxey in strict accordance with the terms and conditions hereof. Exhibit (10)(p)