Common use of Earnxxx Xxxey Clause in Contracts

Earnxxx Xxxey. Purchaser shall deliver the Initial Earnxxx Xxxey to the Title Company within three (3) business days after the date a fully-executed copy of this Agreement is delivered to the Title Company, by wire transfer in accordance with wire transfer instructions provided by the Title Company. Seller shall have the option of terminating this Agreement if the full amount of Initial Earnxxx Xxxey is not delivered to the Title Company as prescribed in this Section 4.1. Purchaser agrees to promptly deliver or cause the Title Company to deliver written acknowledgment by the Title Company that the executed copy of this Agreement and the Initial Earnxxx Xxxey have been received by and are being held by the Title Company pursuant to the terms of this Agreement. In the event that Purchaser exercises the Extension Option pursuant to Section 7.1, Purchaser shall, concurrently with the exercise of the Extension Option, deliver the Additional Earnxxx Xxxey to the Title Company in the form of immediately available funds by wire transfer. The Earnxxx Xxxey shall be invested by the Title Company in an interest-bearing account as Purchaser and Seller shall direct. If the sale of the Property is consummated under this Agreement, the Earnxxx Xxxey shall be paid to Seller and applied to the payment of the Purchase Price at Closing. If Purchaser terminates this Agreement in accordance with any right to terminate granted to Purchaser by the terms of this Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, and no party hereto shall have any further obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Obligations"). Purchaser agrees to deliver to Seller copies of all Reports (as defined in Section 5.2 hereof) at the time (or not later than five

Earnxxx Xxxey. Purchaser shall deliver the Initial Earnxxx Xxxey to the Title Company within three Within five (35) business days after the date a fully-executed copy expiration of the "Inspection Period" provided for in Section 12(A) below Purchaser shall deliver to the Chicago, Illinois office of Commonwealth Land Title Insurance Company or such other reputable title insurance company selected by Purchaser and Sellers ("Escrowee") wire transferred Federal funds in the sum of Three Million Seven Hundred Fifty Thousand and 00/100 Dollars ($3,750,000.00) (the "Initial Earnxxx Xxxey"). Provided Purchaser does not terminate this Agreement is delivered to the Title Company, by wire transfer in accordance with wire transfer instructions provided by the Title Company. Seller shall have the option of terminating this Agreement if the full amount of Initial Earnxxx Xxxey is not delivered to the Title Company as prescribed in this Section 4.1. Purchaser agrees to promptly deliver or cause the Title Company to deliver written acknowledgment by the Title Company that the executed copy of this Agreement and the Initial Earnxxx Xxxey have been received by and are being held by the Title Company pursuant to the terms of this Agreement. In the event that Purchaser exercises the Extension Option pursuant to Section 7.112(A) below, Purchaser shall, concurrently with upon the exercise satisfaction of the Extension OptionConditions Precedent set forth in Section 12 herein, deliver to Escrowee additional wire transferred Federal funds in the sum of Three Million Seven Hundred Fifty Thousand and 00/100 Dollars ($3,750,000.00) (the "Additional Earnxxx Xxxey"). The Initial Earnxxx Xxxey and, if deposited with Escrowee, the Additional Earnxxx Xxxey, together with any and all interest earned thereon (net of investment costs), are hereinafter referred to as the "Earnxxx Xxxey". If and as Purchaser directs, Escrowee shall invest the Earnxxx Xxxey in an interest-bearing savings or money market account or short term U.S. Treasury Bills or similar cash equivalent securities. If the transaction contemplated by this Agreement closes in accordance with the provisions of this Agreement, at the Closing the Earnxxx Xxxey shall be delivered by Escrowee to Sellers as payment toward the Title Company cash portion of the applicable Purchase Price. If the transaction contemplated by this Agreement fails to close due to a default on the part of Purchaser, the Earnxxx Xxxey shall be delivered by Escrowee to Sellers, as Sellers' sole and exclusive remedy, as more particularly provided in the form of immediately available funds by wire transferSection 13(c) below. The Earnxxx Xxxey shall be invested by the Title Company in an interest-bearing account as Purchaser and Seller shall direct. If the sale applicable on a pro rata basis to each of the Property is consummated under this AgreementPurchased Properties, the Earnxxx Xxxey shall be paid to Seller Structured Properties and applied to the payment of the Purchase Price at Closing. If Purchaser terminates this Agreement in accordance with any right to terminate granted to Purchaser by the terms of this Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, Z and no party hereto shall have any further obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Obligations"). Purchaser agrees to deliver to Seller copies of all Reports (as defined in Section 5.2 hereof) at the time (or not later than fiveR Bond Partnership Interests.

Earnxxx Xxxey. Purchaser shall deliver the Initial Earnxxx Xxxey to the Title Company (as defined in Section 6.1) within three two (32) business days after the date a fully-executed copy of this Agreement is delivered to the Title CompanyCompany by Seller, by check (subject to collection) or by wire transfer in accordance transfer, the amount of FIFTY THOUSAND AND NO/100 DOLLARS ($50,000.00) (which amount, together with wire transfer instructions provided all interest accrued thereon, if any, is herein called the "Earnxxx Xxxey") to be invested by the Title CompanyCompany in an interest-bearing account as Purchaser and Seller shall direct. Seller shall have the option of terminating this Agreement if the full amount of Initial Earnxxx Xxxey is not delivered to the Title Company as prescribed in this Section 4.13.1. Purchaser agrees to promptly deliver or cause the Title Company to deliver written acknowledgment acknowledgement by the Title Company that the executed copy of this Agreement and the Initial Earnxxx Xxxey have been received by and are being held by the Title Company pursuant to the terms of this Agreement. In the event that Purchaser exercises the Extension Option pursuant to Section 7.1, Purchaser shall, concurrently with the exercise of the Extension Option, deliver the Additional Earnxxx Xxxey to the Title Company in the form of immediately available funds by wire transfer. The Earnxxx Xxxey shall be invested by the Title Company in an interest-bearing account as Purchaser and Seller shall direct. If the sale of the Property is consummated under this Agreement, the Earnxxx Xxxey shall be paid to Seller and applied to the payment of the Purchase Price at the Closing. If Purchaser terminates this Agreement in accordance with any right to terminate granted to Purchaser by the terms of this Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, and no party hereto shall have any further obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Survival Obligations"). Purchaser agrees to deliver to Seller copies of all Reports (as defined in Section 5.2 hereof4.2) at the time (or not later than fivethe notice to terminate this Agreement is given. The obligations to deliver the Reports shall survive the termination of this Agreement. In no event shall any Earnxxx Xxxey be returned to Purchaser hereunder until all Reports have been delivered to Seller.

Earnxxx Xxxey. Purchaser shall deliver the Initial Earnxxx Xxxey to the Title Company (as defined in Section 6.1) within three two (32) business days after the date a fully-executed copy of this Agreement is delivered to the Title CompanyCompany by Seller, by check (subject to collection) or by wire transfer in accordance transfer, the amount of FIFTY THOUSAND AND NO/100 DOLLARS ($50,000.00) (which amount, together with wire transfer instructions provided all interest accrued thereon, if any, is herein called the "Earnxxx Xxxey") to be invested by the Title CompanyCompany in an interest-bearing account as Purchaser and Seller shall direct. Seller shall have the option of terminating this Agreement if the full amount of Initial Earnxxx Xxxey is not delivered to the Title Company as prescribed in this Section 4.13.1. Purchaser agrees to promptly deliver or cause the Title Company to deliver written acknowledgment acknowledgement by the Title Company that the executed copy of this Agreement and the Initial Earnxxx Xxxey have been received by and are being held by the Title Company pursuant to the terms of this Agreement. In the event that Purchaser exercises the Extension Option pursuant to Section 7.1, Purchaser shall, concurrently with the exercise of the Extension Option, deliver the Additional Earnxxx Xxxey to the Title Company in the form of immediately available funds by wire transfer. The Earnxxx Xxxey shall be invested by the Title Company in an interest-bearing account as Purchaser and Seller shall direct. If the sale of the Property is consummated under this Agreement, the Earnxxx Xxxey shall be paid to Seller and applied to the payment of the Purchase Price at ClosingClosing (as hereinafter defined). If Purchaser terminates this Agreement in accordance with any right to terminate granted to Purchaser by the terms of this Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, and no party hereto shall have any further obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Survival Obligations"). Purchaser agrees to deliver to Seller copies of all Reports (as defined in Section 5.2 4.2 hereof) at the time (or not later than fivethe notice to terminate this Agreement is given. The obligations to deliver the Reports shall survive the termination of this Agreement. In no event shall any Earnxxx Xxxey be returned to Purchaser hereunder until all Reports have been delivered to Seller.

Earnxxx Xxxey. Purchaser shall deliver the Initial Earnxxx Xxxey to the Title Company within three two (32) business days after the date a fully-executed copy of this Agreement is delivered to the Title Company, by wire transfer in accordance with wire transfer instructions provided by the Title Company. Seller shall have the option of terminating this Agreement if the full amount of Initial Earnxxx Xxxey is not delivered to the Title Company as prescribed in this Section 4.1. Purchaser agrees to promptly deliver or cause the Title Company to deliver written acknowledgment by the Title Company that the executed copy of this Agreement and the Initial Earnxxx Xxxey have been received by and are being held by the Title Company pursuant to the terms of this Agreement. In Unless Purchaser shall have terminated this Agreement in accordance with Section 5.1.1 or Section 5.1.4 prior to expiration of the event that Purchaser exercises the Extension Option pursuant to Section 7.1Financing Contingency Period, Purchaser shall, concurrently with prior to the exercise end of the Extension OptionFinancing Contingency Period, deliver the Additional Earnxxx Xxxey to the Title Company in the form of immediately available funds by wire transfer. If the Additional Earnxxx Xxxey is not delivered to the Title Company within the time provided in this Section 4.1, this Agreement shall automatically terminate at the expiration of the Financing Contingency Period, whereupon the Initial Earnxxx Xxxey shall be released to Seller, and neither Purchaser nor Seller shall have any further obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Obligations"). The Earnxxx Xxxey shall be invested by the Title Company in an interest-bearing account as Purchaser and Seller shall direct. If the sale of the Property is consummated under this Agreement, the Earnxxx Xxxey shall be paid to Seller and applied to the payment of the Purchase Price at Closing. If Purchaser terminates this Agreement in accordance with any right to terminate granted to Purchaser by the terms sale of the Property is not consummated under this Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, and no party hereto shall have any further obligations under applied as provided in this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Obligations")Agreement. Purchaser agrees to deliver to Seller copies of all Reports (as defined in Section 5.2 5.1.1(b) hereof) at the time (or not later than fivethe notice to terminate this Agreement is given. The obligations to deliver the Reports shall survive the termination of this Agreement. In no event shall any Earnxxx Xxxey be returned to Purchaser hereunder until all Reports have been delivered to Seller.

Earnxxx Xxxey. Purchaser shall deliver the Initial Earnxxx Xxxey to the Title Company within three (3) business days after the date a fully-executed copy of this Agreement is delivered to the Title Company, by wire transfer in accordance with wire transfer instructions provided by the Title Company. Seller shall have the option of terminating this Agreement if the full amount of Initial Earnxxx Xxxey is not delivered to the Title Company as prescribed in this Section 4.1. Purchaser agrees to promptly deliver or cause the Title Company to deliver written acknowledgment by the Title Company that the executed copy of this Agreement and the Initial Earnxxx Xxxey have been received by and are being held by the Title Company pursuant to the terms of this Agreement. In the event that Purchaser exercises the Extension Option pursuant to Section 7.1, Purchaser shall, concurrently with the exercise of the Extension Option, deliver the Additional Earnxxx Xxxey to the Title Company in the form of immediately available funds by wire transfer. The Earnxxx Xxxey shall be invested by the Title Company in an interest-bearing account as Purchaser and Seller shall direct. If the sale of the Property is consummated under this Agreement, the Earnxxx Xxxey shall be paid to Seller and applied to the payment of the Purchase Price at Closing. If Purchaser terminates this Agreement in accordance with any right to terminate granted to Purchaser by the terms of this Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, and no party hereto shall have any further obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Obligations"). Purchaser agrees to deliver to Seller copies of all Reports (as defined in Section 5.2 hereof) at the time (or not later than fivethe notice to terminate this Agreement is given. The obligations to deliver the Reports shall survive the termination of this Agreement. In no event shall any Earnxxx Xxxey be returned to Purchaser hereunder until all Reports have been delivered to Seller.

Earnxxx Xxxey. Purchaser shall deliver the Initial Earnxxx Xxxey to the Title Company within three two (32) business days after the date a fully-executed copy of this Agreement is delivered to the Title Company, by wire transfer in accordance with wire transfer instructions provided by the Title Company. Seller shall have the option of terminating this Agreement if the full amount of Initial Earnxxx Xxxey is not delivered to the Title Company as prescribed in this Section 4.1. Purchaser agrees to promptly deliver or cause the Title Company to deliver written acknowledgment by the Title Company that the executed copy of this Agreement and the Initial Earnxxx Xxxey have been received by and are being held by the Title Company pursuant to the terms of this Agreement. In the event that Purchaser exercises the Extension Option pursuant to Section 7.1, Purchaser shall, concurrently with the exercise of the Extension Option, deliver the Additional Earnxxx Xxxey to the Title Company in the form of immediately available funds by wire transfer. The Earnxxx Xxxey shall be invested by the Title Company in an interest-bearing account as Purchaser and Seller shall direct. If the sale of the Property is consummated under this Agreement, the Earnxxx Xxxey shall be paid to Seller and applied to the payment of the Purchase Price at Closing. If Purchaser terminates this Agreement in accordance with any right to terminate granted to Purchaser by the terms of this Agreement, the Earnxxx Xxxey shall be immediately returned to Purchaser, and no party hereto shall have any further obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement (the "Surviving Obligations"). Purchaser agrees to deliver to Seller copies of all Reports (as defined in Section 5.2 hereof) at the time (or not later than fivethe notice to terminate this Agreement is given. The obligations to deliver the Reports shall survive the termination of this Agreement. In no event shall any Earnxxx Xxxey be returned to Purchaser hereunder until all Reports have been delivered to Seller.