Escrow Funds. To provide for the timely payment of any post-Closing claims by Buyer against Seller hereunder, at Closing, Seller shall deposit an amount equal to Two Hundred Thousand and No/100 Dollars ($200,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I, which escrow and Post-Closing Agreement shall be established and entered into at Closing. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1-year period, the Escrow Funds deposited by Seller shall be released to Seller, except as provided in the Post-Closing Agreement.
Appears in 9 contracts
Samples: Purchase Contract (Apple REIT Ten, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, the Seller shall deposit an amount equal to Two Three Hundred Thousand and No/100 Dollars ($200,000.00300,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to a Seller and shall be deposited for a period of one six (16) year months in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1six-year month period, the Escrow Funds deposited by the Seller shall be released to the Seller, except as provided in the Post-Closing Agreement.
Appears in 7 contracts
Samples: Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Nine, Inc.)
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, the Seller shall deposit an amount equal to Two Three Hundred Thousand and No/100 Dollars ($200,000.00300,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to a Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1one-year period, the Escrow Funds deposited by the Seller shall be released to the Seller, except as provided in the Post-Closing Agreement.
Appears in 3 contracts
Samples: Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, the Seller shall deposit an amount equal to Two Hundred Thousand and No/100 Dollars ($200,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to a Seller and shall be deposited for a period of one six (16) year months in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1one-year period, the Escrow Funds deposited by the Seller shall be released to the Seller, except as provided in the Post-Closing Agreement.
Appears in 2 contracts
Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.)
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, Seller shall deposit an amount equal to Two Hundred Thousand and No/100 Dollars ($200,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1-year period, the Escrow Funds deposited by Seller shall be released to Seller, except as provided in the Post-Closing Agreement.
Appears in 2 contracts
Samples: Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Eight, Inc.)
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, the Seller shall deposit an amount equal to Two Five Hundred Thousand and No/100 Dollars ($200,000.00500,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement in the form attached hereto as Schedule 8.16 (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1one-year yeas period, the Escrow Funds deposited by Seller shall be released to Seller, except as provided in the Post-Closing Agreement.
Appears in 2 contracts
Samples: Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Nine, Inc.)
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, Seller shall deposit an amount equal to Two Hundred Thousand and No/100 Dollars ($200,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one nine (19) year months in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 19-year month period, the Escrow Funds deposited by Seller shall be released to Seller, except as provided in the Post-Closing Agreement.
Appears in 1 contract
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, the Seller shall deposit an amount equal to Two Hundred Thousand $300,000 and No/100 Dollars ($200,000.00300,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1one-year period, the Escrow Funds deposited by the Seller shall be released to the Seller, except as provided in the Post-Closing Agreement.
Appears in 1 contract
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, the Seller shall deposit an amount equal to Two Hundred Thousand and No/100 Dollars ($200,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to a Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1one-year period, the Escrow Funds deposited by the Seller shall be released to the Seller, except as provided in the Post-Closing Agreement.
Appears in 1 contract
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, Seller shall deposit an amount equal to Two Hundred Thousand and No/100 Dollars ($200,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to a Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1one-year period, the Escrow Funds deposited by the Seller shall be released to the Seller, except as provided in the Post-Closing Agreement.
Appears in 1 contract
Escrow Funds. To provide for the timely payment of any post-Closing closing claims by Buyer against Seller hereunder, at Closing, Seller shall deposit an amount equal to Two Hundred Thousand and No/100 Dollars ($200,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one six (16) year months in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”) in the form attached hereto as Exhibit I), which escrow and Post-Closing Agreement shall be established and entered into at ClosingClosing and shall be a condition to Buyer’s obligations under this Contract. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1-year six (6) month period, the Escrow Funds deposited by Seller shall be released to Seller, except as provided in the Post-Closing Agreement.
Appears in 1 contract