Investment and Use of Funds. The Escrow Agent shall invest the Initial Xxxxxxx Money Deposit and Additional Xxxxxxx Money Deposit in a government insured interest-bearing account satisfactory to Purchaser at an institution having assets of not less than $125,000,000, shall not commingle the Xxxxxxx Money Deposit with any funds of the Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. If the Closing under this Agreement occurs, the Escrow Agent shall deliver the Xxxxxxx Money Deposit to, or upon the instructions of, Seller on the Closing Date. Provided such supplemental escrow instructions are not in conflict with this Agreement as it may be amended in writing from time to time, Seller and Purchaser agree to execute such supplemental escrow instructions as may be appropriate to enable Escrow Agent to comply with the terms of this Agreement.
Appears in 6 contracts
Samples: Agreement of Sale and Purchase (Mack Cali Realty Corp), Agreement of Sale and Purchase (Mack Cali Realty L P), Agreement of Sale and Purchase (Mack Cali Realty L P)
Investment and Use of Funds. The Escrow Agent shall invest the Initial Xxxxxxx Exxxxxx Money Deposit and Additional Xxxxxxx Money Deposit in a government insured interest-bearing account satisfactory to Purchaser and Seller at an institution having offices in Baltimore, Maryland, and assets of not less than $125,000,000, shall not commingle the Xxxxxxx Exxxxxx Money Deposit with any funds of the Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. If the Closing under this Agreement occurs, the Escrow Agent shall deliver the Xxxxxxx Exxxxxx Money Deposit to, or upon the instructions of, Seller Purchaser on the Closing Date. Provided such supplemental escrow instructions are not in conflict with this Agreement as it may be amended in writing from time to time, Seller and Purchaser agree to execute such supplemental escrow instructions as may be appropriate to enable Escrow Agent to comply with the terms of this Agreement.
Appears in 3 contracts
Samples: Agreement of Purchase and Sale (Asset Capital Corporation, Inc.), Agreement of Purchase and Sale (Asset Capital Corporation, Inc.), Agreement of Purchase and Sale (Asset Capital Corporation, Inc.)
Investment and Use of Funds. The Escrow Agent shall invest the Initial Xxxxxxx Exxxxxx Money Deposit and Additional Xxxxxxx Money Deposit in a government insured interest-interest bearing account satisfactory to Purchaser at an institution having assets of not less than $125,000,000, shall not commingle the Xxxxxxx Exxxxxx Money Deposit with any funds of the Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. If the Closing under this Agreement for the Phase I Property occurs, the Escrow Agent shall deliver the Xxxxxxx Exxxxxx Money Deposit to, or upon the instructions of, Seller Purchaser on the Closing DateDate for the Phase I Property. Provided such supplemental escrow instructions are not in conflict with this Agreement as it may be amended in writing from time to time, Seller and Purchaser agree to execute such supplemental escrow instructions as may be appropriate to enable Escrow Agent to comply with the terms of this Agreement.
Appears in 1 contract
Samples: Agreement of Purchase and Sale (Bluerock Residential Growth REIT, Inc.)
