First Deposit. Upon execution of the Operating Lease Agreement for any Used Aircraft, the Lessee shall provide the Lessor [*****] for that Used Aircraft. In case of Seller or any Seller’s subsidiary being the Lessor of any Aircraft (as opposed to a third party lessor that is unrelated to Seller), the [*****] [*****] Confidential material redacted and filed separately with the Securities and Exchange Commission.
First Deposit. Within three (3) business days following the opening of Escrow (as defined under Section 3.1 below), Buyer shall deposit or cause to be deposited with Escrow Holder, in cash, by bank cashier’s check made payable to Escrow Holder, or by a confirmed wire transfer of funds (“Immediately Available Funds”), the sum of Seventy-Five Thousand and 00/100 Dollars ($75,000.00) (the “First Deposit”). If:
(i) Buyer affirmatively disapproves in writing the condition of the Property prior to the expiration of the Due Diligence Period and notifies Seller and Escrow Holder in writing that it is terminating this Agreement by such time; or (ii) Buyer desires to terminate this Agreement for any reason or no reason whatsoever, as determined by Buyer in its sole and absolute discretion, and Xxxxx provides written notice to Seller of the same prior to the expiration of the Due Diligence Period; or (iii) Buyer fails to expressly approve the condition of the Property prior to the expiration of the Due Diligence Period by giving Seller written notice of such approval, then the First Deposit, plus any accrued interest thereon (subject however, to Section 2.3.1(a) below), shall be refunded to Buyer and this Agreement shall be terminated, except for any obligations that expressly survive the termination.
(a) Notwithstanding anything to the contrary or otherwise stated herein, upon receipt of the First Deposit, Escrow Holder shall immediately release $100.00 of the First Deposit to Seller as non-refundable, independent consideration for this Agreement, and any return or refund of any of the ”Deposits” (defined below) to Buyer as set forth in this Agreement will be the amount of the Deposits less the non-refundable $100.00.
(b) Prior to the expiration of the Due Diligence Period and prior to the release of the First Deposit and the “Second Deposit” (defined below) to Seller as provided in Section 2.3.2 below, Buyer and Seller shall each execute, acknowledge and deposit an original, counterpart, recordable Memorandum of Agreement (the “Memorandum”) in the form attached hereto as Exhibit “B” and incorporated herein by this reference with Escrow Holder. Concurrently with the release of the First Deposit and the Second Deposit to Seller, Escrow Holder shall cause the Memorandum to be recorded in the Official Records of Orange County, California at Buyer’s sole cost and expense. In the event that this Agreement is terminated for any reason at any time, the Escrow Holder shall take steps to i...
First Deposit. The Buyer hereby acknowledges having already paid to the Seller a fully refundable deposit in the amount of US$350,000 (Three Hundred Fifty Thousand United States Dollars) on April 28, 2010 (the “First Deposit”) and the receipt of which is hereby acknowledged by the Seller.
First Deposit. Within three (3) Business Days after the Opening of Escrow, Buyer shall deliver to Escrow Holder the First Deposit. If Buyer delivers the Notice of Suitability pursuant to Section 3.1, the First Deposit shall be non-refundable to Buyer and shall remain in Escrow until the Closing, except as otherwise provided herein. If Escrow closes for the Property, the First Deposit shall be applicable to the Purchase Price for the Property. If Buyer fails to deliver the First Deposit as and when required, Buyer shall not be deemed in default, but this Agreement shall automatically terminate, and the parties hereto shall have no further obligation to each other except for those obligations which expressly survive termination of this Agreement.
First Deposit. Prior to the execution of this Agreement and pursuant to the terms of a Memorandum of Understanding dated June 3, 1997 between Buyer and Seller, Buyer delivered to the Escrow Agent a deposit of Two Hundred Thousand Dollars ($200,000) (the "FIRST DEPOSIT"). The Memorandum of Understanding governs the payment terms of the First Deposit.
First Deposit. On or before the fifth (5th) business day following the Effective Date of this Agreement, Buyer shall deliver to Broad and Xxxxxx, as escrow agent (“Escrow Agent”), the sum of FIVE THOUSAND and No/100 Dollars ($5,000.00) by check or wire transfer, the proceeds of which shall be held in trust by Escrow Agent as an xxxxxxx money deposit (“First Deposit”) in an interest bearing account, and disbursed only in accordance with the terms of this Agreement. The First Deposit shall become non-refundable three (3) business days after expiration of the Inspection Period, except in the event that: (i) the Seller fails, refuses or is unable to perform all of its obligations under this Agreement; (ii) one or more of the Closing Conditions in favor of Buyer set forth herein has not been satisfied, with the exception of the condition that Buyer shall have received an award of LIHTC funds from FHFC sufficient to construct the Intended Improvements, the failure of which shall not entitle Buyer to a refund of the First Deposit; or (iii) as otherwise specifically provided in this Agreement.
First Deposit. Not later than thirty (30) days after [describe affirmative vote at July 29 commission hearing], Purchaser shall deliver to Escrow Agent, by wire transfer of immediately available funds, a deposit in the amount of One Million and No/100 Dollars ($1,000,000.00) (the “First Deposit”), which shall be held in escrow by Escrow Agent pursuant to the terms and conditions of this Agreement.
First Deposit. Purchaser has deposited with Seller the sum of One Million One Hundred Thousand and 00/100 ($1,100,000.00) Dollars (“First Deposit”). Seller acknowledges receipt of the First Deposit.
First Deposit. Within ten (10) business days from the Effective Date, Buyer shall pay cash into Escrow in the amount of $200,100.00, the full amount of which plus all interest which has accrued thereon shall be a credit to Buyer against the Purchase Price upon the Close of Escrow (as defined in Paragraph 7(a)). Upon Buyer's payment of the $200,100.00 into Escrow, Escrow Holder shall forthwith release $100.00 of same (the "$100.00 Payment") to Seller which $100.00 Payment shall be nonrefundable to Buyer under all circumstances and shall be consideration to Seller for entering into this Agreement and for Buyer's right to terminate this Agreement prior to expiration of the Due Diligence Date (as described in Paragraph 4(b)). The term "First Deposit" shall hereinafter refer to the $200,000.00 remaining after release of the $100.00 Payment, which Escrow Holder shall invest in an interest-bearing account. If Buyer terminates this Agreement in the manner described in Paragraph 4(d), then Escrow Holder shall promptly return the First Deposit and all interest accruing thereon to Buyer. If Buyer does not terminate this Agreement in the manner described in Paragraph 4(d), then the First Deposit and all interest accruing thereon shall become nonrefundable to Buyer upon expiration of the Due Diligence Date except as otherwise described in this Agreement and applied to the Purchase Price upon the Close of Escrow.
First Deposit. Within three (3) business days following the date this Agreement is fully executed by Buyer and Seller, Buyer shall deliver to Escrow Holder, the sum of Fifty Thousand Dollars ($50,000) (the “First Deposit”) as a deposit on account of the Purchase Price. Escrow Holder shall place the First Deposit in an interest-bearing account, with interest accruing for the benefit of and payable to Buyer. The interest accrued on the First Deposit while in escrow shall be deemed part of the First Deposit for purposes of this Agreement. If the conditions set forth in Sections 4.1.1 and 4.1.2 are satisfied (or waived in writing by Buyer) on or before the expiration of the Feasibility Period referred to in Section 4.1.2 below, then the First Deposit shall be released by Escrow Holder to Seller and shall become non-refundable to Buyer (except as otherwise provided in this Agreement). In the event any of the conditions set forth in Section 4.1.1 or Section 4.1.2 are not satisfied (or waived in writing by Buyer) within the time periods prescribed by such Sections, then this Agreement shall be deemed terminated and the First Deposit shall be promptly returned to Buyer.
