Payment of Purchase Price; Deposit Sample Clauses

Payment of Purchase Price; Deposit. At or before the Closing, Broker shall deliver the Deposit to the escrow agent/title agent (“Escrow Agent”) and it shall be credited against the Purchase Price at the Closing. No interest shall accrue on the Deposit or other funds held in trust by Broker. Buyer agrees to pay the balance of the Purchase Price in U.S. Dollars in immediately available funds on or before the Closing Date. Buyer acknowl- edges that its obligations under this Purchase Agreement are not contingent on obtaining financing and Buyer represents to Seller and Broker that it either has cash or is approved for a loan at financial institution in an amount sufficient to discharge its payment obligations under this Purchase Agreement. Should Seller be unable to close in accordance with Paragraph 5 for any reason other than through fault of the Buyer, the Deposit shall be disbursed to the Buyer. Loan Officer Phone
AutoNDA by SimpleDocs
Payment of Purchase Price; Deposit. The Purchase Price shall be paid by Buyer as follows: 1. Ten Million Dollars ($10,000,000) (the "Deposit") shall be placed into Escrow by wire transfer of immediately available funds to Escrow Holder within one (1) business day following the Effective Date. Escrow Holder shall immediately notify Seller by facsimile in accordance with Section 14.1 hereof of Escrow Holder's receipt of the Deposit. The Deposit shall become nonrefundable upon deposit into Escrow, except as otherwise provided herein. 2. The balance of the Purchase Price, subject to adjustments as provided in Sections 9.6 and 9.7 hereof and taking into account all interest earned on the Deposit (the "Balance"), shall be placed into Escrow by wire transfer of immediately available funds to Escrow Holder at least one (1) business day before the scheduled Closing. If the purchase of the Property by Buyer hereunder is consummated, then the Deposit shall constitute a part of and be applied against the Purchase Price. If the purchase of the Property by Buyer hereunder is not consummated, then the Deposit shall either be returned to Buyer or be paid to Seller in accordance with the provisions hereinafter set forth.
Payment of Purchase Price; Deposit. The Deposit shall be paid upon execution of this Agreement and the balance of the purchase price shall be payable contemporaneously with the delivery of the vehicle.
Payment of Purchase Price; Deposit. (a) It is hereby irrevocably acknowledged, confirmed and agreed by Seller that the mutual obligations and covenants of the parties hereunder and the entry by affiliates of Seller and Buyer into other agreements as of even date herewith, constitute adequate consideration for the Option herein granted. (b) The balance of the Purchase Price shall be paid as provided in Paragraph 5 following.
Payment of Purchase Price; Deposit. (a) Subject to terms of Section 1.5.2(b) and Section 1.5.3 below, Buyer and the Company shall cause the Escrow Agent to distribute the Purchase Price Deposit (i) at the Closing, in accordance with Section 1.7, or (ii) in the event of a Qualifying Termination, to the Company in such account or accounts designated by the Company, (A) if Buyer delivers a Deposit Dispute Notice within the Deposit Dispute Window and the Sellers are determined to be the Prevailing Party in accordance with Section 1.5.2, within three (3) Business Days of such determination, or (B) if Buyer does not deliver a Deposit Dispute Notice within the Deposit Dispute Window, within three (3) Business Days of the end of the Deposit Dispute Window. (b) Upon the occurrence of a Qualifying Termination, the Sellers shall provide a written notice to Buyer of the Qualifying Termination, which shall include (i) confirmation that the Sellers have determined that a Qualifying Termination has occurred, (ii) confirmation of the provision of this Agreement by which the Sellers have elected to terminate this Agreement, and (iii) a detailed description of the facts and reasons supporting the Sellers’ determination that a Qualifying Termination has occurred (a “Qualifying Termination Notice”). If Buyer disagrees with the Sellers’ determination that a Qualifying Termination has occurred, Buyer may, within ten (10) Business Days after receipt of the Qualifying Termination Notice (the “Deposit Dispute Window”), deliver a written notice to the Sellers (a “Deposit Dispute Notice”) that includes a detailed written description of each item that Buyer disputes in the Qualifying Termination Notice and the facts and reasons supporting Buyer’s dispute. If Buyer has delivered a Deposit Dispute Notice, the Purchase Price Deposit shall be distributed to the prevailing party as such (A) is determined in a final, non-appealable decision by a court of competent jurisdiction, or (B) is agreed among the Parties hereto in writing (as applicable, the “Prevailing Party”). (c) The Parties hereby agree that the payment of the Purchase Price Deposit to the Company shall be the sole and exclusive remedy of the Company, the Sellers and their respective Affiliates and representatives pursuant to this Agreement and any other Transaction Documents executed in connection with the Transaction in the event of a Qualifying Termination.
Payment of Purchase Price; Deposit. (i) Purchasers shall pay the Closing Date Purchase Payment (as adjusted as specifically stated herein) to Owners at Closing, and Purchasers shall pay the Contingent Additional Purchase Price Payments to Owners as specified herein, by wire transfer of immediately available funds to the accounts designated by the Owners’ Representative. All Closing Date Purchase Price Payments, any Closing Date adjustments to the Purchase Price and any adjustments and payments of Local Entity Debt will be reflected on a closing statement executed by Checkpoint and Owners’ Representative as of the Closing Date (“Purchase Price Closing Statement”). All references to dollars herein shall mean United States Dollars or, at the option of Purchasers in each case upon agreement of the Owners’ Representative, an equivalent amount in Euros or Hong Kong Dollars, or a combination thereof.
Payment of Purchase Price; Deposit. Purchaser shall pay the Purchase Price to Seller as follows:
AutoNDA by SimpleDocs
Payment of Purchase Price; Deposit. (a) On or before the day five (5) Business Days after the date of the Auction (September 22, 2020), Broker shall deliver the Deposit to the escrow agent/title agent (“Escrow Agent”), payable to the Escrow Agent, which Deposit shall be held and released by the Escrow Agent in accordance with the terms of this Agreement. (b) The Deposit shall be applied to the Purchase Price at the Closing and shall otherwise be held, refunded, or disbursed in accordance with the terms of this Agreement. Interest and other income from time to time earned on the Deposit shall be earned for the account of the Buyer, and shall be a part of the Deposit. Buyer agrees to pay the balance of the Purchase Price in U.S. Dollars in immediately available funds to the Escrow Agent, for further delivery to Seller or to an account or accounts designated by Seller on or before the Closing Date. Buyer acknowledges that its obligations under this Purchase Agreement are not contingent on obtaining financing and Buyer represents to Seller and Broker that it either has cash or is approved for a loan at In the event that Buyer fails to close the transaction in accordance with this Agreement, Broker shall disburse the Deposit to Seller. Should Seller be unable to close in accordance with this agreement for any reason other than through fault of the Buyer, the Deposit shall be disbursed to the Buyer.
Payment of Purchase Price; Deposit. The Purchase Price shall be paid by wire transfer of immediately available federal funds on the Closing Date (the amount to be paid under this paragraph being herein called the “Closing Payment”). Within three (3) days after the Effective Date, Buyer shall deliver to Escrow Holder a wire transfer of immediately available federal funds, in the amount of [ ] and No/100 Dollars ($ .00) (the “Deposit”). The Deposit shall be held and disbursed by Escrow Holder in accordance with the terms of this Agreement, and shall be a credit against the Purchase Price. If, for any reason, Xxxxx is entitled to a refund of the Deposit, $10.00 of the Deposit will nevertheless be paid to Seller as consideration for entering into this Agreement and for the rights granted to Buyer under this Agreement, even if such independent consideration is not specifically referenced elsewhere in this Agreement.
Payment of Purchase Price; Deposit. If Buyer breaches the Agreement after the expiration of the Due Diligence Period (provided that Buyer has not terminated the Agreement before the expiration of the Due Diligence Period) and the transaction contemplated hereby does not close as a result of such breach, then the total Purchase Price Deposit plus accrued interest shall be non-refundable to Buyer and shall be payable to Seller as liquidated damages. If this transaction is consummated in accordance with the terms of this Agreement, the total amount of such deposit plus accrued interest shall be applied in full towards payment of the Purchase Price at the Close of Escrow. All funds deposited in Escrow shall earn interest until paid out as liquidated damages or credited to payment of the Purchase Price at the Close of Escrow. Time is of the essence for deposit of the Purchase Price Deposit.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!