Earnxxx Xxxey Deposit. Within three (3) business days after the date this Agreement is executed by both Seller and Purchaser, Purchaser shall deliver to the offices of Republic Title of Texas, Inc., to the attention of Leslxx Xxxxxxx, 0026 Xxxxxx Xxxxxx, 10th Floor, Dallas, Texas 75200-0000, xxlephone number: (214) 000-0000, xxlecopy number: (214) 000-0000 (xxe "Title Company"), as agent for First American Title Insurance Company, a deposit of Ten Thousand and No/l00 Dollars ($10,000.00) in cash (the "Earnxxx Xxxey Deposit"). In the event Purchaser does not deposit the Earnxxx Xxxey Deposit with the Title Company on or prior to the date designated in the preceding sentence, this Agreement shall automatically terminate and the parties hereto shall have no further rights, duties or obligations one to the other hereunder. In the event Purchaser does not terminate this Agreement prior to the expiration of the Review Period (defined in SECTION 8.1.) then the Earnxxx Xxxey Deposit shall be nonrefundable to Purchaser except in the event of the default of Seller under the terms hereof. The Title Company shall hold the Earnxxx Xxxey Deposit as escrow agent and shall invest the Earnxxx Xxxey Deposit in such interest bearing investments as Purchaser shall reasonably designate from time to time which mature no later than the earlier of (a) the date on which the Closing hereunder is scheduled (at the time such investment is made) to be held or (b) the date (if it is then determinable) on which the Earnxxx Xxxey Deposit will be required to be delivered to either Purchaser or Seller pursuant to the provisions of this Agreement. All such interest earned thereon shall be deemed to constitute a portion of the Earnxxx Xxxey Deposit and shall be added thereto. At Closing, or upon the occurrence of a default under this Agreement, the Title Company shall deliver the Earnxxx Xxxey Deposit to the party entitled to it in accordance with the other terms of this Agreement.
Earnxxx Xxxey Deposit. Upon execution hereof, Buyer shall deliver the sum of ONE HUNDRED THOUSAND DOLLARS ($100,000.00) to Charxxx X. Xxxxx, Xx., xx Trustee, to be held by Charxxx X. Xxxxx, Xx., xx Trustee, until the Closing (as defined below) of the transaction contemplated hereby (the "Earnxxx Xxxey Deposit"). The Earnxxx Xxxey Deposit shall be credited toward the Purchase Price at the Closing.
Earnxxx Xxxey Deposit. Purchaser has delivered and deposited with Escrow Agent the amount of $125,000.00 representing the Earnxxx Xxxey as required by the Purchase and Sale Agreement. The Escrow Agent agrees to immediately deposit said funds in an account at a local banking institution in Lee Xxxnty, the accounts of which are insured by the FDIC, and to hold and disburse said funds, and any interest earned thereon (together the "Earnxxx Xxxey") as hereinafter provided.
Earnxxx Xxxey Deposit. Concurrently with the delivery of one (1) fully executed copy of this Agreement with Escrow Holder, Buyer shall deposit with Escrow Holder the sum of One Hundred Thousand Dollars ($100,000.00) (the "EARNXXX XXXEY DEPOSIT") in the form of a check or wire transfer. The Earnxxx Xxxey Deposit shall become nonrefundable after the end of the Review Period, unless this Agreement terminates other than due to a default of Buyer hereunder.
Earnxxx Xxxey Deposit. Within seven (7) business days of execution and delivery of this Agreement by all parties, Buyer shall deposit with an escrow agent designated by Seller and reasonably acceptable to Buyer, the sum of $2,850,000 as earnxxx xxxey. At Buyer's option, the earnxxx xxxey deposit, plus interest earned thereon, if any, may be applied toward payment of the Purchase Price at Closing. Except as otherwise provided in Section 9.3(a) with respect to the forfeiture of earnxxx xxxey as liquidated damages, the earnxxx xxxey deposit, plus interest earned thereon, if any, shall be refunded to Buyer in the event of termination of this Agreement pursuant to Section 9.1
Earnxxx Xxxey Deposit. DEPOSIT AND ACTIONS TO BE TAKEN. No earnxxx xxxey deposit shall be made or required.
Earnxxx Xxxey Deposit. At the time of its execution of this Agreement, Buyer shall pay or cause to be paid to Seller, by wire transfer or other immediately available funds, an amount equal to Ten Percent (10.00%) of the Preliminary Purchase Price as an earnxxx xxxey deposit (the "Earnxxx Xxxey Deposit"). Such Earnxxx Xxxey Deposit shall bear interest at the Agreed Rate from the date of its deposit with Seller. Application of the Earnxxx Xxxey Deposit shall be governed by the following procedures:
(a) If Closing occurs in accordance with the Agreement, the Earnxxx Xxxey Deposit, together with the interest accrued thereon to the Closing Date, shall be credited against the Preliminary Purchase Price in calculating the Closing Payment.
(b) If (i) Closing does not occur, (ii) the Agreement is terminated by Seller or Buyer pursuant to Article 12.01, and (iii) the conditions to Buyer's obligation to consummate the transaction set forth in Article 10.02 have not been met, Seller shall remit the Earnxxx Xxxey Deposit, together with accrued interest to Buyer.
(c) If Closing does not occur for any reason except as provided in (b), above, Seller shall retain the Earnxxx Xxxey Deposit, together with accrued interest, as liquidated damages in lieu of all other damages and as Seller's sole remedy.
Earnxxx Xxxey Deposit. At the time of execution of this Contribution Agreement, Bluegreen shall deposit an earnxxx xxxey payment in the amount of ten percent (10%) of the Initial Capital Contribution (the "Earnxxx Xxxey"), which deposit shall be in an interest bearing account, opened and maintained by the Lincoln Land Title Company, Inc., acting as a title agency for Chicago Title Insurance Company, whose address is 3256 Xxxxx Xxxxxxxx, Xxxxxxxxxxx, Xxxxxxxx 00000, xxlephone number (417) 000-0000, xxcsimile number (417) 000-0000, xxich deposit shall be placed in an interest bearing account opened and maintained by the title agency, as escrow agent hereunder. Such Earnxxx Xxxey shall, except as otherwise provided herein, upon consummation of the transaction contemplated hereunder (including the occurrence of all conditions precedent in the absence of a written waiver thereof by the party benefiting therefrom), be delivered to the LLC as a credit against Bluegreen's Initial Capital Contribution to the LLC.
Earnxxx Xxxey Deposit. Upon execution of this Agreement by all of the Parties, Consolidated Water shall make a wire transfer payment to SeaTec in the amount of $25,000 (the "Deposit"). If the Governmental Authority of Belize and its Water and Sewerage Authority have not approved the consummation of this Agreement and the transactions contemplated hereunder by the Closing Date, or SeaTec or Wursxxx xxxls to honor its or his obligations hereunder on the Closing Date for any reason other than Consolidated Water's material breach of any of its obligations hereunder, then SeaTec promptly shall make a wire transfer payment to Consolidated Water after the Closing Date of the full amount of the Deposit. If the closing of the transactions contemplated hereunder occurs on the Closing Date, the Deposit shall be applied to the Purchase Price, and Consolidated Water shall make a wire transfer payment to SeaTec and Wursxxx xx the aggregate amount of $3,832,000, as adjusted in accordance with Section 7.3(a) hereof. If the closing of the transactions contemplated hereunder does not occur on the Closing Date, SeaTec shall retain the Deposit, and Consolidated Water shall have no further liability to SeaTec whatsoever.
Earnxxx Xxxey Deposit. Contemporaneously with the execution and delivery of this Agreement, Buyer, Seller and the Escrow Agent will enter into an earnxxx xxxey escrow agreement (the "Earnxxx Xxxey Escrow Agreement") in the form of Exhibit H attached hereto, and Buyer will, on or prior to the last day of the Inspection Period if Buyer does not terminate this Agreement pursuant to Section 5.5(b), deposit with the Escrow Agent $1,750,000 by wire transfer of immediately available funds (the "Escrow Deposit"). The funds constituting the Escrow Deposit will be held, invested and disbursed as provided in this Agreement and the Earnxxx Xxxey Escrow Agreement. Unless otherwise specified elsewhere herein, all earnings on the Escrow Deposit will be the property of Buyer. If the transactions contemplated by this Agreement are consummated at the Closing, then in connection with the Closing Seller and Buyer will jointly instruct the Escrow Agent in writing to disburse the Escrow Deposit (and all earnings thereon) to Seller on the Closing Date by wire transfer of immediately available funds, and such distribution of the Escrow Deposit (and all earnings thereon) by the Escrow Agent to Seller will be credited against, and constitute partial payment of, the Purchase Price by Buyer to Seller. If the Closing of the transactions contemplated by this Agreement is not consummated in accordance with this Agreement, Buyer's and Seller's rights to the Escrow Deposit will be as provided in Section 9.1(b).
