Common use of Entitlement to Xxxxxxx Money Clause in Contracts

Entitlement to Xxxxxxx Money. Subject to the paragraphs below, Purchaser shall only be entitled to a return of the xxxxxxx money if one of the following should occur: a) the Seller terminates the agreement without justification as provided for herein, b) the Purchaser elects to rescind the agreement due to the Property being “destroyed or substantially damaged” as provided herein below. Or c) the Seller is unable to deliver good and marketable title as outlined herein below by the time of the scheduled closing. Otherwise, the xxxxxxx money shall be applied toward the purchase price of the Property at closing, or paid to Seller as liquidated damages should Purchaser fail to close.

Entitlement to Xxxxxxx Money. Subject to the paragraphs below, Purchaser shall only be entitled to a return of the xxxxxxx money if one of the following should occur: a) the Seller terminates the agreement without justification as provided for herein, b) the Purchaser elects to rescind the agreement due to the Property being “destroyed or substantially damaged” as provided herein below. Or c) the Seller is unable to deliver good and marketable title as outlined herein below by the time of the scheduled closing. Otherwise, the xxxxxxx money shall be applied toward the purchase price of the Property at closing, closing or paid to Seller as liquidated damages should Purchaser fail to close.