Common use of Non-Refundable Payment Clause in Contracts

Non-Refundable Payment. Concurrently with the delivery to Escrow Holder of the Initial Xxxxxxx Money Deposit, as a condition precedent to the effectiveness of this Agreement, Buyer shall deposit in escrow with the Title Company the amount of One Hundred and No/100ths Dollars ($100.00) (the “Non-Refundable Payment”), as consideration for Buyer’s rights under Section 4 of this Agreement and Seller’s execution and delivery of this Agreement. The Non-Refundable Payment shall be immediately released from the Escrow to Seller, shall be fully earned by Seller upon receipt, shall not constitute part of the Initial Xxxxxxx Money Deposit and notwithstanding anything in this Agreement to the contrary, shall not be returned to Buyer in any circumstance. The Non-Refundable Payment shall be applicable to the Consideration at the Close of Escrow. Buyer acknowledges that Seller would not have agreed to the terms of Section 4 of this Agreement had Buyer not made the Non-Refundable Payment to Seller on the terms set forth in this Section 3(b).

Non-Refundable Payment. Concurrently with Within two (2) Business Days after the delivery Effective Date, as consideration for Seller’s agreement to Escrow Holder the terms of the Initial Xxxxxxx Money DepositSection 4, below, and as a condition precedent to the effectiveness of this Agreement, Buyer shall deposit deliver directly to Seller, in escrow with the Title Company cash or by wire transfer, immediately available funds in the amount of One Hundred and No/100ths Dollars ($100.00) (the “Non-Refundable Payment”), as consideration for Buyer’s rights under Section 4 of this Agreement and Seller’s execution and delivery of this Agreement. The Non-Refundable Payment shall be immediately released from the Escrow to Seller, shall be fully earned and retained by Seller immediately upon receiptreceipt and, shall not constitute part notwithstanding any provisions of the Initial Xxxxxxx Money Deposit and notwithstanding anything in this Agreement to the contrary, the Non-Refundable Payment shall not be returned to Buyer in any circumstance. The Non-Refundable Payment shall be applicable not constitute a part of the Xxxxxxx Money is independent consideration to support the Consideration at the Close obligations of EscrowSeller under this Agreement. Buyer acknowledges that Seller would not have agreed to the terms of Section 4 of this Agreement had Buyer not made the Non-Refundable Payment to Seller on the terms set forth in this Section 3(b). In addition, Seller acknowledges that (a) in performing its due diligence investigation of the Properties, Buyer will incur expenses, and such expenses also constitute good, valuable and sufficient consideration for this Agreement, and (b) Buyer would not have entered into this Agreement without having the opportunity to perform such investigations and without having the right to terminate this Agreement in accordance with the provisions hereof. Accordingly, in addition to the $100 referenced above, separate consideration exists to support Seller’s obligations hereunder notwithstanding Buyer’s right to terminate this Agreement as provided herein.

Non-Refundable Payment. Concurrently with Within two (2) Business Days after the delivery Effective Date, as consideration for Seller’s agreement to Escrow Holder the terms of the Initial Xxxxxxx Money DepositSection 4, below, and as a condition precedent to the effectiveness of this Agreement, Buyer shall deposit deliver directly to Seller, in escrow with the Title Company cash or by wire transfer, immediately available funds in the amount of One Hundred and No/100ths Dollars ($100.00) (the “Non-Refundable Payment”), as consideration for Buyer’s rights under Section 4 of this Agreement and Seller’s execution and delivery of this Agreement. The Non-Refundable Payment shall be immediately released from the Escrow to Seller, shall be fully earned and retained by Seller immediately upon receiptreceipt and, shall not constitute part notwithstanding any provisions of the Initial Xxxxxxx Money Deposit and notwithstanding anything in this Agreement to the contrary, the Non-Refundable Payment shall not be returned to Buyer in any circumstance. The Non-Refundable Payment shall be applicable not constitute a part of the Xxxxxxx Money is independent consideration to support the Consideration at the Close obligations of EscrowSeller under this Agreement. Buyer acknowledges that Seller would not have agreed to the terms of Section 4 of this Agreement had Buyer not made the Non-Refundable Payment to Seller on the terms set forth in this Section 3(b).. In addition, Seller acknowledges that (a) in performing its due diligence investigation of the Properties, Buyer will incur expenses, and such expenses also constitute good, valuable and sufficient consideration for this Agreement, and (b) Buyer would not have entered into this Agreement without having the opportunity to perform such investigations and without having the right to terminate this Agreement in accordance with the provisions hereof. Accordingly, in addition to the $100 referenced above, separate consideration exists to support Seller’s obligations hereunder notwithstanding Buyer’s right to terminate this Agreement as provided herein. Purchase and Sale Agreement Page 2 of 39

Non-Refundable Payment. Concurrently with Within two (2) Business Days after the delivery Effective Date, as consideration for Seller’s agreement to Escrow Holder the terms of the Initial Xxxxxxx Money DepositSection 4, below, and as a condition precedent to the effectiveness of this Agreement, Buyer shall deposit deliver directly to Seller, in escrow with the Title Company cash or by wire transfer, immediately available funds in the amount of One Hundred and No/100ths Dollars ($100.00) (the “Non-Refundable Payment”), as consideration for Buyer’s rights under Section 4 of this Agreement and Seller’s execution and delivery of this Agreement. The Non-Refundable Payment shall be immediately released from the Escrow to Seller, shall be fully earned and retained by Seller immediately upon receiptreceipt and, shall not constitute part notwithstanding any provisions of the Initial Xxxxxxx Money Deposit and notwithstanding anything in this Agreement to the contrary, the Non-Refundable Payment shall not be returned to Buyer in any circumstance. The Non-Refundable Payment shall be applicable not constitute a part of the Exxxxxx Money is independent consideration to support the Consideration at the Close obligations of EscrowSeller under this Agreement. Buyer acknowledges that Seller would not have agreed to the terms of Section 4 of this Agreement had Buyer not made the Non-Refundable Payment to Seller on the terms set forth in this Section 3(b). In addition, Seller acknowledges that (a) in performing its due diligence investigation of the Properties, Buyer will incur expenses, and such expenses also constitute good, valuable and sufficient consideration for this Agreement, and (b) Buyer would not have entered into this Agreement without having the opportunity to perform such investigations and without having the right to terminate this Agreement in accordance with the provisions hereof. Accordingly, in addition to the $100 referenced above, separate consideration exists to support Seller’s obligations hereunder notwithstanding Buyer’s right to terminate this Agreement as provided herein.