Common use of Form; Failure to Deposit Clause in Contracts

Form; Failure to Deposit. The Xxxxxxx Money shall be in the form of a certified or cashier's check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money within the time periods required, Seller may terminate this Agreement by written notice to Purchaser, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Plymouth Industrial REIT Inc.), Purchase and Sale Agreement (Inland Western Retail Real Estate Trust Inc)

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Form; Failure to Deposit. The Xxxxxxx Money shall be in the form of a certified or cashier's ’s check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money within the time periods required, Seller may terminate this Agreement by written notice to Purchaser at any time prior to the actual receipt by Escrow Agent of such deposit from Purchaser, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Strategic Storage Growth Trust, Inc.)

Form; Failure to Deposit. The Xxxxxxx Money shall be in the form of a certified or cashier's ’s check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money within the time periods requiredrequired herein, Seller may terminate this Agreement by written notice to Purchaser delivered on or prior to the deposit of such Xxxxxxx Money by Purchaser, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered returned to Seller Purchaser, and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Tuesday Morning Corp/De), Purchase and Sale Agreement

Form; Failure to Deposit. The Xxxxxxx Exxxxxx Money shall be in the form of a certified or cashier's ’s check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Exxxxxx Money within the time periods requiredrequired herein, Seller may terminate this Agreement by written notice to Purchaser delivered on or prior to the deposit of such Exxxxxx Money by Purchaser, in which event any Xxxxxxx Exxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered returned to Seller Purchaser, and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Tuesday Morning Corp/De)

Form; Failure to Deposit. The Xxxxxxx Money to be deposited by Buyer shall be in the form of a certified or cashier's check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser Buyer fails to timely deposit any portion of the Xxxxxxx Money within the time periods required, Seller Sellers may terminate this Agreement by written notice to PurchaserBuyer, in which event case Sellers shall be entitled to receive any such portion not so deposited by Buyer and any Xxxxxxx Money that has previously been deposited by Purchaser Buyer with Escrow Agent shall be immediately delivered to Seller and retained by Sellers, and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Industrial Property Trust Inc.)

Form; Failure to Deposit. The Xxxxxxx Money shall be in the form of a certified or cashier's check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money within the time periods required, Seller Sellers may terminate this Agreement by written notice to Purchaser at any time prior to the actual receipt by Escrow Agent of such deposit from Purchaser, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller Sellers and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.)

Form; Failure to Deposit. The Xxxxxxx Money shall be in the form of a certified or cashier's ’s check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money within the time periods required, provided that Purchaser has not delivered the Due Diligence Termination Notice, Seller may terminate this Agreement by written notice to PurchaserPurchaser and Escrow Agent, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (NTS Realty Holdings Lp)

Form; Failure to Deposit. The Xxxxxxx Money shall be in the form of a certified or cashier's ’s check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money within the time periods requiredrequired and such failure continues for two (2) Business Days after written notice thereof from Seller, Seller may terminate this Agreement by written notice to Purchaser, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Hines Real Estate Investment Trust Inc)

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Form; Failure to Deposit. The Xxxxxxx Money shall be in the form of a certified or cashier's check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money within the time periods required, Seller may terminate this Agreement by written notice to Purchaser at any time prior to the actual receipt by Escrow Agent of such deposit from Purchaser, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.)

Form; Failure to Deposit. The Xxxxxxx Exxxxxx Money shall be in the form of a certified or cashier's ’s check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Exxxxxx Money within the time periods required, Seller may terminate this Agreement by written notice to Purchaser, in which event any Xxxxxxx Exxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered refunded to Seller Purchaser and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)

Form; Failure to Deposit. The Xxxxxxx Money and Independent Consideration shall be in the form of a certified or cashier's check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Money or the Independent Consideration within the time periods required, Seller may terminate this Agreement by written notice to Purchaser, in which event any Xxxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Wells Real Estate Investment Trust Inc)

Form; Failure to Deposit. The Xxxxxxx Exxxxxx Money shall be in the form of a certified or cashier's check or the wire transfer to Escrow Agent of immediately available U.S. federal funds. If Purchaser fails to timely deposit any portion of the Xxxxxxx Exxxxxx Money within the time periods required, Seller may terminate this Agreement by written notice to Purchaser at any time prior to the actual receipt by Escrow Agent of such deposit from Purchaser, in which event any Xxxxxxx Exxxxxx Money that has previously been deposited by Purchaser with Escrow Agent shall be immediately delivered to Seller and thereafter the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Bluerock Residential Growth REIT, Inc.)

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