Form; Failure to Deposit. The Xxxxxxx Money and the 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, and such failure continues for one (1) additional business day after notice from Seller to Purchaser, 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 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 (Berkshire Income Realty Inc), Purchase and Sale Agreement (Berkshire Income Realty Inc)
Form; Failure to Deposit. The Xxxxxxx Money and the Independent Consideration 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 or the Independent Consideration within the time periods required, and such failure continues for one (1) additional business day after notice from Seller to Purchaserrequired 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 delivered immediately 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 Money and the 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, and such failure continues for one (1) additional business day after notice from Seller to Purchaser, 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)
Form; Failure to Deposit. The Xxxxxxx Money and the Independent Consideration 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 or the Independent Consideration within the time periods required, and such failure continues for one (1) additional business day after notice from Seller to Purchaser, 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 and the 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, and such failure continues for shall not be cured within one (1) additional business day after the effective date of written notice from of such failure by Seller to Purchaser, 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 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 (Preferred Apartment Communities Inc)
Form; Failure to Deposit. The Xxxxxxx Money and the 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, and such failure continues for one (1) additional business day after notice from Seller to Purchaser, 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 Money and the Independent Consideration 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 or the Independent Consideration within the time periods required, required and such failure continues for one two (12) additional business day Business Days after written notice thereof from Seller to PurchaserSeller, 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)
Form; Failure to Deposit. The Xxxxxxx Exxxxxx Money and the Independent Consideration 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 or the Independent Consideration within the time periods required, and such failure continues for one (1) additional business day after notice from Seller to Purchaserrequired 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 delivered immediately 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 and the Independent Consideration 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 or the Independent Consideration within the time periods required, and such failure continues for one (1) additional business day after notice from Seller to Purchaser, 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 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: Purchase and Sale Agreement (Industrial Property Trust Inc.)
Form; Failure to Deposit. The Xxxxxxx Money and the Independent Consideration 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 or the Independent Consideration within the time periods required, and such failure continues for one (1) additional business day after notice from Seller to Purchaserprovided 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 and the 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, and such failure continues for one (1) additional business day after notice from Seller to Purchaser, 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 Exxxxxx Money and the 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 Exxxxxx Money or the Independent Consideration within the time periods required, and such failure continues for one (1) additional business day after notice from Seller to Purchaser, 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.)