Common use of Earnxxx Xxxey Clause in Contracts

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. 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.this