Failure to Receive Xxxxxxx Money. In the event Xxxxxxx Money is not timely received by Holder or Xxxxxxx Money check or other instrument is not honored for any reason by the bank upon which it is drawn, Holder shall promptly notify Buyer and Seller of Buyer's failure to deposit the agreed upon Xxxxxxx Money. Buyer shall then have one (1) day to deliver Xxxxxxx Money in immediately available funds to Holder. In the event Buyer does not deliver such funds, Buyer is in default and Seller shall have the right to terminate this Agreement by notifying Buyer in writing. In the event Buyer delivers the Xxxxxxx Money in immediately available funds to Holder before Seller elects to terminate, Seller shall be deemed to have waived his right to terminate, and the Agreement shall remain in full force and effect.
Appears in 11 contracts
Samples: New Construction Purchase and Sale Agreement, New Construction Purchase and Sale Agreement, New Construction Purchase and Sale Agreement
