Common use of Exxxxxx Money Clause in Contracts

Exxxxxx Money. Within two Business Days after receipt of a fully executed copy of this Agreement, Purchaser shall deposit the Exxxxxx Money with the Escrow 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 Escrow 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 two Business Days after receipt of a fully executed copy 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, by wire transfer in accordance with wire transfer instructions provided by the Title Company, the amount of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($150,000.00) (which amount, together with all interest accrued thereon, if any, is herein called the “Exxxxxx Money”) to be invested by the Title Company in an interest bearing account as Purchaser shall deposit direct. Seller 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 agrees to promptly deliver or cause the Title Company to deliver written acknowledgment by the Title Company that the Exxxxxx Money with has been received by and is being held by the Escrow AgentTitle Company pursuant to the terms of this Agreement. The 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 terminates pursuant to in accordance with any express right of Purchaser to terminate granted to Purchaser by the terms of this Agreement, the Escrow Agent shall refund the Exxxxxx Money shall be returned to Purchaser immediately upon requestPurchaser, and all no party hereto shall have any further rights and obligations of the parties under this Agreement shall terminate, except those for such obligations which by their terms expressly survive any the termination of this Agreement. The Escrow Agent shall hold and disburse Agreement (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“Surviving Obligations”).

Exxxxxx Money. Within two Business Days three (3) business days after receipt the expiration of a fully executed copy of this Agreementthe Contingency Period referenced in Section 7.1, Purchaser shall deposit the Exxxxxx Money with the Vancouver office of Fidelity National Title Company of Washington, Inc., attention: Mxxxxxx Xxxxxx, 600 X. Xxxxxxxx Xxx, Xxxxx 000, Xxxxxxxxx, Xxxxxxxxxx 00000, Mxxxxxx.Xxxxxx@xxx.xxx (“Escrow Agent. The ”) the sum of 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 the interest accrued thereon, herein referred to as the “Exxxxxx Money”) and the Exxxxxx Money shall be held by Escrow Agent in an interest bearing account and shall be retained by Seller or returned to Purchaser according to the terms of this Agreement. Exxxxxx Money shall be released to Seller and applied to the Purchase Price at Closingupon Purchaser’s notice to proceed to close prior to the expiration of the Contingency Period. If this Agreement terminates pursuant to any express right of Purchaser to terminate this Agreement, the Escrow Agent shall refund the Exxxxxx Money to is not deposited by Purchaser immediately upon requestwithin six (6) business days after the Effective Date, Seller shall have, at its sole option and all further rights discretion 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 for so long as the Exxxxxx Money in accordance with Article 9 of this Agreement. Notwithstanding any other provisions to has not been deposited, the contrary, Seller shall be allowed right 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 Agreementas its sole and exclusive remedy, and (b) Seller does not give written notice of termination neither party shall have any further liability to Purchaser within two Business Days after Purchaser so deposits the Exxxxxx Moneyother hereunder.

Exxxxxx Money. Within two Business Days (2) business days after receipt of a fully executed copy of this Agreementthe Effective Date, Purchaser shall deposit deliver to Chicago Title Insurance Company (“Escrow Agent”) the sum of Two Million Six Hundred Thousand Dollars ($2,600,000.00) (such sum, together with any interest earned thereon and net of investment costs, is referred to in this Agreement as the “Exxxxxx Money with Money”) to be received pursuant to the Escrow Agent. Agreement attached hereto as Exhibit D. The Exxxxxx Money shall be applied invested as Seller and Purchaser so direct. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number. Except as expressly set forth herein to the Purchase Price at Closingcontrary, the Exxxxxx Money shall become nonrefundable upon the expiration of the Due Diligence Period described in Section 8.1 below. If this Agreement terminates pursuant Notwithstanding the prior sentence, if the transaction fails to any express right close because of Purchaser to terminate (i) Seller’s default under this Agreement, and Purchaser elects to exercise its remedies pursuant to Section 7.1(a), or (ii) failure of a condition precedent to Purchaser’s obligations to close or (iii) Purchaser’s termination of this Agreement pursuant to Section 5, the Exxxxxx Money shall be returned to Purchaser. If the transaction closes in accordance with the terms of this Agreement, then Escrow Agent shall refund deliver the Exxxxxx Money to Purchaser immediately upon request, and all further rights and obligations of Seller at Closing as payment toward 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 MoneyPurchase Price.

Exxxxxx Money. Within two Business Days three (3) business days after receipt of a fully executed copy of this Agreementthe 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 deposit 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 Escrow Agentfourth 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. If this Agreement terminates pursuant to any express right of Purchaser to terminate this Agreement, the Escrow 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.