Common use of Exxxxxx Money Clause in Contracts

Exxxxxx Money. Within three (3) business days after the Effective Date, Purchaser will pay into a strict joint order escrow with Seller at the Title Insurer the sum of $215,000.00 as exxxxxx money (together with any interest earned thereon, the "Exxxxxx Money"). The Exxxxxx Money may be invested by the Title Insurer as Purchaser directs in United States Treasury Bills or a federally insured money market account. Seller and Purchaser shall share equally the cost of the joint order escrow, but Purchaser shall bear the cost of any investment fee charged by the Title Insurer as escrowee. If this Agreement is terminated: (a) by Purchaser before the end of the Review Period in accordance with Article 4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be returned to Purchaser; (b) because of a material breach of this Agreement by Seller, then the Exxxxxx Money shall be returned to Purchaser; (c) pursuant to Section 5.4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be returned to Purchaser; or (d) pursuant to Section 6.3 hereof, then the Exxxxxx Money shall be returned to Purchaser. Except as provided in the immediately preceding sentence, the Exxxxxx Money shall be paid to the party provided in this Agreement. The Exxxxxx Money shall be applied to the Purchase Price at the Closing.

Exxxxxx Money. Within three (3) business days two Business Days after the Effective Datereceipt of a fully executed copy of this Agreement, Purchaser will pay into a strict joint order escrow with Seller at the Title Insurer the sum of $215,000.00 as exxxxxx money (together with any interest earned thereon, the "Exxxxxx Money"). The Exxxxxx Money may be invested by the Title Insurer as Purchaser directs in United States Treasury Bills or a federally insured money market account. Seller and Purchaser shall share equally the cost of the joint order escrow, but Purchaser shall bear the cost of any investment fee charged by the Title Insurer as escrowee. If this Agreement is terminated: (a) by Purchaser before the end of the Review Period in accordance with Article 4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, deposit the Exxxxxx Money shall be returned to Purchaser; (b) because of a material breach of this Agreement by Seller, then with the Exxxxxx Money shall be returned to Purchaser; (c) pursuant to Section 5.4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be returned to Purchaser; or (d) pursuant to Section 6.3 hereof, then the Exxxxxx Money shall be returned to Purchaser. Except as provided in the immediately preceding sentence, the Exxxxxx Money shall be paid to the party provided in this AgreementEscrow Agent. The Exxxxxx Money shall be applied to the Purchase Price at Closing. If this Agreement terminates pursuant to any express right of Purchaser to terminate this Agreement, the ClosingEscrow Agent shall refund the Exxxxxx Money to Purchaser immediately upon request, and all further rights and obligations of the parties under this Agreement shall terminate, except those which by their terms survive any termination of this Agreement. The Escrow Agent shall hold and disburse the Exxxxxx Money in accordance with Article 9 of this Agreement. Notwithstanding any other provisions to the contrary, Seller shall be allowed to terminate this Agreement if Purchaser fails to timely deposit the Exxxxx Money with the Escrow Agent, provided that Seller shall be deemed to have waived Seller’s right to terminate under this Section 1.3 if (a) Purchaser deposits the Exxxxxx Money with the Escrow Agent later than two Business Days after receipt of a fully executed copy of this Agreement, and (b) Seller does not give written notice of termination to Purchaser within two Business Days after Purchaser so deposits the Exxxxxx Money.

Exxxxxx Money. Within three (3) business days after the Effective Dateexpiration of the Contingency Period referenced in Section 7.1, Purchaser will pay into a strict joint order escrow shall deposit with Seller at the Vancouver office of Fidelity National Title Insurer Company of Washington, Inc., attention: Mxxxxxx Xxxxxx, 600 X. Xxxxxxxx Xxx, Xxxxx 000, Xxxxxxxxx, Xxxxxxxxxx 00000, Mxxxxxx.Xxxxxx@xxx.xxx (“Escrow Agent”) the sum of $215,000.00 One Million and No/100 Dollars (U.S.$1,000,000.00) in cash, which shall serve as Purchaser’s exxxxxx money deposit (together with any the interest earned accrued thereon, herein referred to as the "“Exxxxxx Money"). The Exxxxxx Money may be invested by the Title Insurer as Purchaser directs in United States Treasury Bills or a federally insured money market account. Seller ”) and Purchaser shall share equally the cost of the joint order escrow, but Purchaser shall bear the cost of any investment fee charged by the Title Insurer as escrowee. If this Agreement is terminated: (a) by Purchaser before the end of the Review Period in accordance with Article 4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be held by Escrow Agent in an interest bearing account and shall be retained by Seller or returned to Purchaser; (b) because of a material breach Purchaser according to the terms of this Agreement by Seller, then the Agreement. Exxxxxx Money shall be returned released to Purchaser; (c) pursuant to Section 5.4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be returned to Purchaser; or (d) pursuant to Section 6.3 hereof, then the Exxxxxx Money shall be returned to Purchaser. Except as provided in the immediately preceding sentence, the Exxxxxx Money shall be paid to the party provided in this Agreement. The Exxxxxx Money shall be Seller and applied to the Purchase Price upon Purchaser’s notice to proceed to close prior to the expiration of the Contingency Period. If the Exxxxxx Money is not deposited by Purchaser within six (6) business days after the Effective Date, Seller shall have, at its sole option and discretion and for so long as the ClosingExxxxxx Money has not been deposited, the right to terminate this Agreement as its sole and exclusive remedy, and neither party shall have any further liability to the other hereunder.

Exxxxxx Money. Within three two (32) business days after the Effective Date, Purchaser will pay into a strict joint order escrow with Seller at the shall deliver to Chicago Title Insurer Insurance Company (“Escrow Agent”) the sum of Two Million Six Hundred Thousand Dollars ($215,000.00 as exxxxxx money 2,600,000.00) (such sum, together with any interest earned thereonthereon and net of investment costs, is referred to in this Agreement as the "“Exxxxxx Money"). ”) to be received pursuant to the Escrow Agreement attached hereto as Exhibit D. The Exxxxxx Money may shall be invested by the Title Insurer as Purchaser directs in United States Treasury Bills or a federally insured money market account. Seller and Purchaser so direct. Any and all interest earned on the Exxxxxx Money shall share equally be reported to Purchaser’s federal tax identification number. Except as expressly set forth herein to the cost contrary, the Exxxxxx Money shall become nonrefundable upon the expiration of the joint order escrowDue Diligence Period described in Section 8.1 below. Notwithstanding the prior sentence, but if the transaction fails to close because of (i) Seller’s default under this Agreement, and Purchaser shall bear the cost elects to exercise its remedies pursuant to Section 7.1(a), or (ii) failure of any investment fee charged by the Title Insurer as escrowee. If a condition precedent to Purchaser’s obligations to close or (iii) Purchaser’s termination of this Agreement is terminated: (a) by Purchaser before the end of the Review Period in accordance with Article 4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereofpursuant to Section 5, the Exxxxxx Money shall be returned to Purchaser; (b) because of a material breach . If the transaction closes in accordance with the terms of this Agreement by SellerAgreement, then Escrow Agent shall deliver the Exxxxxx Money shall be returned to Purchaser; (c) pursuant to Section 5.4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be returned to Purchaser; or (d) pursuant to Section 6.3 hereof, then the Exxxxxx Money shall be returned to Purchaser. Except Seller at Closing as provided in the immediately preceding sentence, the Exxxxxx Money shall be paid to the party provided in this Agreement. The Exxxxxx Money shall be applied to payment toward the Purchase Price at the ClosingPrice.

Exxxxxx Money. Within Purchaser shall deliver to the Title Company (as defined in Section 6.1 of this Agreement) within three (3) business days after the Effective Date, Purchaser will pay into a strict joint order escrow by wire transfer in accordance with Seller at wire transfer instructions provided by the Title Insurer Company, the sum amount of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($215,000.00 as exxxxxx money 150,000.00) (which amount, together with any all interest earned accrued thereon, if any, is herein called the "“Exxxxxx Money"). The Exxxxxx Money may ”) to be invested by the Title Insurer Company in an interest bearing account as Purchaser directs in United States Treasury Bills or a federally insured money market accountshall direct. Seller and shall have the option of terminating this Agreement if the full amount of Exxxxxx Money is not delivered to the Title Company as prescribed in this Section 3.1. Purchaser shall share equally agrees to promptly deliver or cause the cost of the joint order escrow, but Purchaser shall bear the cost of any investment fee charged Title Company to deliver written acknowledgment by the Title Insurer as escroweeCompany that the Exxxxxx Money has been received by and is being held by the Title Company pursuant to the terms of this Agreement. If the sale of the Property is consummated under this Agreement, the Exxxxxx Money shall be paid to Seller and applied to the payment of the Purchase Price at Closing. If Purchaser terminates this Agreement is terminated: (a) by Purchaser before the end of the Review Period in accordance with Article 4 hereof, then, provided any right to terminate granted to Purchaser has complied with its obligations under by the fourth grammatical paragraph terms of Article 4 hereofthis Agreement, the Exxxxxx Money shall be returned to Purchaser; (b) because of a material breach , 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 by Seller, then (the Exxxxxx Money shall be returned to Purchaser; (c) pursuant to Section 5.4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be returned to Purchaser; or (d) pursuant to Section 6.3 hereof, then the Exxxxxx Money shall be returned to Purchaser. Except as provided in the immediately preceding sentence, the Exxxxxx Money shall be paid to the party provided in this Agreement. The Exxxxxx Money shall be applied to the Purchase Price at the Closing“Surviving Obligations”).