Common use of Payment of Deposit Clause in Contracts

Payment of Deposit. No later than one (1) Business Day after the execution of this Agreement by both Buyer and Seller and as a condition precedent to the effectiveness of this Agreement, Buyer shall pay the First Deposit to Escrow Agent for Escrow Agent to hold in accordance herewith. In addition, no later than the expiration of the Due Diligence Period (provided that this Agreement is not sooner terminated in accordance with the terms hereof), Buyer shall pay the Second Deposit to Escrow Agent for Escrow Agent to hold in accordance herewith.

Appears in 1 contract

Samples: Purchase and Sale Agreement (KBS Legacy Partners Apartment REIT, Inc.)

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Payment of Deposit. No later than one Within two (12) Business Day after business days of the full and final execution of this Agreement by both Buyer and Seller and as a condition precedent to the effectiveness of this Agreement, Buyer shall pay the First Deposit to Escrow Agent for Escrow Agent to hold in accordance herewithHolder. In addition, no later than the expiration of the Due Diligence Period (provided that this Agreement is not sooner terminated in accordance with the terms hereof), and as a condition to the continued effectiveness of this Agreement, Buyer shall pay the Second Deposit to Escrow Agent for Escrow Agent to hold in accordance herewithHolder.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.)

Payment of Deposit. No later than one two (12) Business Day Days after the execution of this Agreement by both Buyer and Seller and as a condition precedent to the effectiveness of this Agreement, Buyer shall pay deposit with Escrow Agent, the First Deposit. Except as expressly set forth in this Agreement, the Deposit shall be non-refundable to Escrow Agent for Escrow Agent Buyer and distributed to hold in accordance herewith. In addition, no later than the expiration of the Due Diligence Period (provided that Seller if this Agreement is not sooner terminated in accordance with the terms hereof), Buyer shall pay the Second Deposit pursuant to Escrow Agent for Escrow Agent to hold in accordance herewithSection 9.1.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Rodin Global Property Trust, Inc.)

Payment of Deposit. No Prior to the execution of this Agreement, Buyer has paid the First Deposit to Escrow Agent. In addition, no later than one (1) Business Day after the execution of this Agreement by both Buyer and Seller and as a condition precedent to the effectiveness of this Agreement, Buyer shall pay the First Deposit to Escrow Agent for Escrow Agent to hold in accordance herewith. In addition, no later than the expiration of the Due Diligence Period (provided that this Agreement is not sooner terminated in accordance with the terms hereof)Period, Buyer shall pay the Second Deposit to Escrow Agent for Escrow Agent to hold in accordance herewithAgent.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Regional Health Properties, Inc)

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Payment of Deposit. No later than Within one (1) Business Day business day after the execution of this Agreement by both Buyer and Seller and as a condition precedent to the continued effectiveness of this Agreement, Buyer shall pay the First Deposit to Escrow Agent for Escrow Agent to hold in accordance herewithAgent. In addition, no later than within one (1) business day after the expiration of the Due Diligence Period (provided that this Agreement is not sooner terminated in accordance with the terms hereof), and as a condition to the continued effectiveness of this Agreement, Buyer shall pay the Second Deposit to Escrow Agent for Escrow Agent to hold in accordance herewithAgent.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Inland Real Estate Income Trust, Inc.)

Payment of Deposit. No later than one (1) Business Day after Upon the full and final execution of this Agreement by both Buyer and Seller and as a condition precedent to the effectiveness of this Agreement, Buyer shall pay the First Deposit to Escrow Agent for Escrow Agent to hold in accordance herewithAgent. In addition, no later than one (1) business day after the expiration of the Due Diligence Period (provided that this Agreement is not sooner terminated in accordance with the terms hereof), Buyer shall pay the Second Deposit to Escrow Agent for Escrow Agent to hold in accordance herewithAgent.

Appears in 1 contract

Samples: Purchase and Sale Agreement (KBS Real Estate Investment Trust II, Inc.)

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