Common use of Earnxxx Xxxey Clause in Contracts

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. 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 John Xxxx (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 25,000.00 earnxxx xxxey deposit to Seller; upon such disbursement the $100,000.00 25,000.00 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 25,000.00 earnxxx xxxey deposit shall be applied in partial satisfaction of the purchase price payable at closing. In the event that this Contract is 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. 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 Sixty Thousand and No/100 Dollars ($25,000.0060,000.00) to Safeco Land Title of DallasDavix Xxxnt, 5220 Renaissance Tower, 1201 Xxx 106 Xxxx Xxxxxxx Xxxxxx, XxxxxxXxxxxxx, Xxxxx 00000, Xxtn: Bobbxx Xxxxx Xxxxxxxxxxxx 00000 (xxe "Title CompanyEscrow Agent"). The Title Company Escrow Agent 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 Title Review Period (as defined in Article VI V hereinbelow), then, within two (2) business days after the expiration of the Inspection Title Review 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 Escrow Agent shall immediately disburse the entire $100,000.00 60,000.00 earnxxx xxxey deposit to Seller; upon such disbursement the $100,000.00 60,000.00 earnxxx xxxey deposit shall be non-refundable to the Purchaser except in the event of a default by Seller hereunder, but, but if this Contract closes, then the entire $100,000.00 60,000.00 earnxxx xxxey deposit shall be applied in partial satisfaction of the purchase price payable at closing. Notwithstanding the foregoing or anything to the contrary contained herein, in no event shall the $60,000.00 earnxxx xxxey deposit be disbursed to Seller until or unless Seller has complied with Seller's obligation to withdraw as a party from Case No. 2001-C of 1999. 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. Within two If, after the Sellers have performed Sellers' obligations under this Agreement, and after the date specified for Closing as provided in Section 1.2 hereto, Buyer fails to make the payments or to perform any obligation of the Buyer under this Agreement for any reason, including the timely deposit of the Earnxxx Xxxey as specified in Section 1.3(a), other than (2i) business days after final failure to obtain required approval, if any, under the Hart-Xxxxx-Xxxxxx Xxxitrust Improvements Act of 1976 (xxx "XXX Xxx"), xx (ii) a default by the Sellers under Section 9 of this Agreement; or (iii) failure to obtain approval of Buyer's execution of this Contract by all parties heretoAgreement from the Board of Directors of Denali Incorporated and communicate such fact to Sellers on or before 5:00 P.M. C.D.S.T. on May 13, Purchaser shall deliver Purchaser1998; or (iv) Buyer's check becoming aware of any liens, mortgages or encumbrances on the Company's assets in the amount excess of Twenty-Five five Thousand and No/100 Dollars ($25,000.00) that were not disclosed on the Financial Statements or revealed to Safeco Land Title Buyer from the information maintained by Sellers at the offices of DallasGABLX XXXWXXX XXXK SCHWXXX XXXLX XXXERINO, 5220 Renaissance Tower2000 NationsBank Center, 1201 Xxx 15 Wxxx Xxxxx Xxxxxx, XxxxxxXxxxx, Xxxxx Xxxxxxxx 00000, Xxtn: Bobbxx Xxxxx -0000 (xxe "Title CompanyData Room"). 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 Sellers may, at their option, cancel and terminate this Agreement and retain the Earnxxx Xxxey and any accrued interest thereon as liquidated damages, or pursue any other legal or equitable remedy for the breach of this Agreement by the Buyer. The Sellers and Buyer agree that such amount is a reasonable amount for liquidated damages and that it would be impracticable and extremely difficult to determine actual damages. If the Buyer shall perform all the obligations of Buyer hereunder and (a) upon the occurrence of any events set forth in (i) - (iv) above, or (b) if Sellers shall breach this Agreement, or (c) upon Seller's failure to perform any of Sellers' obligations hereunder, then Buyer shall be applied in partial satisfaction entitled to cancel and terminate this Agreement and receive a refund of the purchase price payable at closing. In the event that this Contract is not closedEarnxxx Xxxey, then the earnxxx xxxey together with all interest accrued thereon, which 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 SellerBuyer's sole remedy.

Earnxxx Xxxey. Within two For the purpose of securing the performance of Purchaser under the terms and provisions of this Contract, Purchaser will deliver to the Title Company the sum of Fifty Thousand Dollars (2$50,000) (the "Earnxxx Xxxey"), within three (3) business days after of final execution of this Contract by all parties heretoContract. On or before the Inspection Expiration Date, Purchaser shall deliver Purchaser's check deposit an additional earnxxx xxxey deposit in the amount of Twenty-Five Four Hundred Fifty Thousand and No/100 Dollars ($25,000.00450,000.00) 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 Company, which shall become part of the additional sum Earnxxx Xxxey. The aggregate Earnxxx Xxxey shall consist of Seventy-Five Hundred Thousand and No/100 Dollars ($75,000.00) 500,000), to be handled and disbursed as provided in cash, which sum this Contract. All sums comprising the Earnxxx Xxxey shall be added held in an interest-bearing account at a federally insured depository institution. At the Closing, the Earnxxx Xxxey plus all interest accrued therein, shall be paid over to Seller and become a part applied to the cash portion of the earnxxx xxxeyPurchase Price or returned to Purchaser at its option. Upon receipt Unless this Contract is terminated by Purchaser in accordance with, Sections 3.2, 3.3, or 3.4 (in which event the Earnxxx Xxxey shall be refunded to Purchaser), hereof the Earnxxx Xxxey 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 Purchaser shall be non-refundable refundable. If Purchaser fails to deposit any portion of the Purchaser except in Earnxxx Xxxey when such portion of the event of a default by Seller hereunderEarnxxx Xxxey is due, but, if this Contract closes, then the entire $100,000.00 earnxxx xxxey deposit shall automatically terminate and any Earnxxx Xxxey already deposited 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 released to Seller as valuable consideration for the Inspection Period described in Article VI hereinbelow and the execution of this Contract liquidated damages. The parties agree that, unless otherwise agreed to by Seller, the Earnxxx Xxxey shall not be used to fund any repairs or replacements to the Property that are discovered during Purchaser's inspection of the Property.

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 Fifty Thousand and No/100 Dollars ($25,000.0050,000.00) to Safeco Land Title of Dallas, 5220 Renaissance Tower, 1201 Xxx Xxxxxx, Xxxxxx, Xxxxx 00000, Xxtn: Bobbxx Xxxxx John Xxxx (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 50,000.00 earnxxx xxxey deposit to Seller; upon such disbursement the $100,000.00 50,000.00 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 50,000.00 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. 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 Fifty Thousand and No/100 Dollars ($25,000.0050,000.00) 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 50,000.00 earnxxx xxxey deposit to Seller; upon such disbursement the $100,000.00 50,000.00 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 50,000.00 earnxxx xxxey deposit shall be applied in partial satisfaction of the purchase price payable at closing. In the event that this Contract is 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.