Forfeit of Deposit. If a deposit of money is forfeited by a purchaser produced by Xxxxxx, one half shall be retained by the Broker, providing that this amount does not exceed the commission, and one half shall be paid to the Owner. Witnessed: Witness Owner
Forfeit of Deposit. If this Agreement is not terminated pursuant to the provisions contained in Section 3.1, 3.7, or 3.8 hereof, then the Deposit will constitute forfeitable xxxxxxx money that will belong to Seller pursuant to Section 8.1 in the event Purchaser defaults in its obligation to purchase the Assets for any reason OTHER THAN Seller's default.
Forfeit of Deposit. The Deposit will be forfeited to the Seller if:
Forfeit of Deposit. If a Successful Bidder breaches any of its obligations under the terms of the SISP or any definitive transaction documentation, its Deposit shall be forfeited as liquidated damages and not as a penalty. The Petitioners shall apply and use any forfeited Deposit in the manner agreed upon by the Petitioners and the Monitor and as approved in writing by the Interim Lender. Post-Offer Deadline Procedure
Forfeit of Deposit. If a deposit of money is forfeited by a purchaser produced by Broker, one half of the deposit shall be retained by Broker, and the other half of the deposit shall be paid to the Owner.
Forfeit of Deposit. IF, FOR ANY REASON, THE TENANT FAILS TO BEGIN THIS LEASE, THE FULL AMOUNT OF THE DEPOSIT IS FORFEITED.
Forfeit of Deposit. 14 If a Qualified Overbidder successfully submits an overbid for the Assets (the “Successful 15 Overbid”) and thereafter fails to Close, and the failure to Close is a default under the Agreement 16 approved by the Bankruptcy Court, the Debtor may terminate the Agreement by providing 17 written notice to the Qualified Overbidder that submitted the Successful Overbid and the 19 Qualified Overbidder shall forfeit its Deposit. 20
Forfeit of Deposit. The Purchase Deposit, plus accrued interest, shall be forfeited by Purchaser and be retained by Seller in the event that this Agreement is terminated by Seller pursuant to Section 9.1(b), other than pursuant to either condition precedent Section 6.3, Legal Proceedings, or Section 6.4, Consents, in which case the Purchase Deposit, plus accrued interest, shall be returned to Purchaser.
Forfeit of Deposit. If the Purchaser fails to consummate the transactions provided for hereunder at the Time of Closing for a reason other than any of the conditions set forth in Section having not been fulfilled, performed or satisfied at or prior to the Closing, the Deposit paid by the Purchaser shall be forfeited by the Purchaser.
Forfeit of Deposit. (a) Notwithstanding anything herein to the contrary, on the Closing Date, if Purchaser refuses to close, is unable to close because it does not have sufficient funds to consummate the transactions contemplated hereby or has been advised, in writing, by any applicable regulatory authority that it does not hold sufficient regulatory capital in compliance with all terms of supervisory and regulatory requirements to continue the Business and Purchaser's existing banking business immediately following the Closing, breaches its representations or warranties hereunder or otherwise fails to perform its obligations under this Agreement thereby causing this Agreement to be terminated, Purchaser shall forfeit its Deposit to Seller as complete liquidated damages therefor and Escrow Agent shall pay such Deposit to Seller upon written notice therefor.
