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. -----------
Appears in 2 contracts
Samples: Asset Purchase Agreement (Salem Communications Corp /De/), Asset Purchase Agreement (Salem Communications Corp /De/)
Earnxxx Xxxey. (a) Concurrently with Within five (5) days of the execution of this Agreement, Buyer has deposited shall deposit 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. -----------.
Appears in 1 contract
Samples: Asset Purchase Agreement (Salem Communications Corp /De/)
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. -----------.
Appears in 1 contract
Samples: Asset Purchase Agreement (Salem Communications Corp /De/)