Performance Deposit and Payment Sample Clauses

Performance Deposit and Payment. As evidence of good faith, Buyer has deposited or is depositing with Sellers, at the time of the execution of this Agreement, a performance deposit equal to ten percent (10%) of the Base Purchase Price (the “Deposit”), which Deposit shall be non-interest-bearing and non-refundable except as provided herein. In the event the Closing occurs, the Deposit shall be applied to the Base Purchase Price to be paid at Closing, subject to the other adjustments thereto as set forth in this Agreement. If Closing does not occur and the Agreement is terminated, then the Deposit shall be retained by Sellers or paid to Buyer, as provided in Article 19 below.

Performance Deposit and Payment. Concurrently with the execution of this Agreement, Buyer has deposited by wire transfer in same day funds into an account (the “Escrow Account”) with Capital One, N.A. (the “Escrow Agent”) the sum of $4,250,000 (such sum, together with any interest earned thereon, the “Deposit”), to be held, invested and disbursed in accordance with the terms of this Agreement and the Escrow Agreement. In the event the Closing occurs, the Deposit shall be applied to the Base Purchase Price to be paid at Closing. If Closing does not occur and the Agreement is terminated, then the Deposit shall be paid to Seller or paid to Buyer, as provided in Article 19 below.

Performance Deposit and Payment. As evidence of good faith, Buyer has deposited or is depositing with Seller, by direct bank deposit or wire transfer in same day funds, no later than one (1) Business Day after the Execution Date, a performance deposit equal to ten percent (10%) of the Base Purchase Price (Three Million Two Hundred Fifty Thousand Dollars ($3,250,000)) (the “Deposit”), which Deposit shall be non-interest bearing and non- refundable except as provided herein. In the event the Closing occurs, the Deposit shall be applied to the Base Purchase Price to be paid at Closing, subject to the other adjustments thereto as set forth in this Agreement. If Closing does not occur and the Agreement is terminated, then the Deposit shall be retained by Seller or paid to Buyer, as provided in Article 19 below.

Performance Deposit and Payment. As evidence of good faith, Buyer has deposited with XTO Energy a performance deposit of $18,250,000.00 (the “Performance Deposit”). The Performance Deposit will be credited to the Base Purchase Price at Closing, will not bear interest, and is not refundable except as provided in this Agreement. If Closing does not occur as to any Interest, and this Agreement provides that the Performance Deposit allocable on a pro rata basis to that Interest is to be refunded for any reason, XTO Energy will deduct any amounts due to it under this Agreement and remit the remainder of the Performance Deposit to Buyer, without interest. The Performance Deposit is an ▇▇▇▇▇▇▇ money deposit or liquidated damages, and forfeiture of the Performance Deposit as provided in this Agreement will be in lieu of any other rights and remedies XTO Energy may have under law or in equity, if Closing does not occur due to Buyer’s failure to perform as provided in this Agreement.

Performance Deposit and Payment. As evidence of good faith, Buyer is depositing, at the time of the execution of this Agreement, a performance deposit equal to (One Million Five Hundred Thousand and No/100 Dollars ($1,500,000.00)) (the “Deposit”), which Deposit shall be non-refundable except as provided herein. In the event the Closing occurs, the Deposit shall be applied to the Base Purchase Price to be paid at Closing, subject to the other adjustments thereto as set forth in this Agreement. If Closing does not occur and the Agreement is terminated, then the Deposit shall be retained by Seller or paid to Buyer in accordance with the terms and conditions of this Agreement.

Performance Deposit and Payment. There is no deposit furnished for this transaction.

Performance Deposit and Payment. Not later than one (1) Business Day after the execution and delivery of this Agreement, Buyer shall deposit by wire transfer in immediately available funds into an account (the “Escrow Account”) with JPMorgan Chase Bank, N.A. (the “Escrow Agent”), the sum of $55,000,000 (such amount, together with any interest earned thereon (the “Deposit”) to be held, invested, and disbursed in accordance with the terms of this Agreement and the Escrow Agreement. Buyer and Seller agree to execute and deliver joint written instructions to the Escrow Agent, directing the release of the Deposit in accordance with the terms of this Agreement. Buyer and Seller shall each bear 50% of the cost and fees owed to the Escrow Agent related to the Deposit.

Performance Deposit and Payment. (a) As evidence of good faith, simultaneous with the execution of this Agreement, Buyer has deposited with ExxonMobil a performance deposit of ten million United States dollars ($10,000,000.00) (the “Performance Deposit”). The Performance Deposit will be credited to the Base Purchase Price at Closing, will not bear interest, and is not refundable except as provided in this Agreement. If Closing does not occur as to any Interest, and this Agreement provides that the Performance Deposit allocable on a pro rata basis to that Interest is to be refunded for any reason, ExxonMobil will deduct any amounts due to it under this Agreement and remit the remainder of the Performance Deposit to Buyer, without interest. [****] (b) If, prior to the Closing Date, Buyer (i) notifies ExxonMobil, in writing, that the condition precedent relating to Lender’s obligation to provide loans to Buyer for this transaction has not been satisfied or waived due to a “Material Adverse Change” in Buyer’s consolidated financial condition or business; and (ii) Buyer has used reasonable commercial efforts to obtain a waiver of such condition from Lender; and (iii) Buyer provides ExxonMobil with a copy of Buyer’s request for such waiver and Lender’s written response denying such waiver, then this Agreement shall terminate and ExxonMobil shall retain the Performance Deposit as liquidated damages, and notwithstanding anything else to the contrary in this Agreement, ExxonMobil shall have no other rights and remedies against Buyer for failure to perform under this Agreement.

Performance Deposit and Payment. As evidence of good faith, Buyer shall, on or before two (2) Business Days from the date of this Agreement, deposit, or cause to be deposited, with ▇▇ ▇▇▇▇▇▇ Chase Bank (the “Escrow Agent”) a performance deposit equal to ten percent (10%) of the Base Purchase Price (the “Deposit”), which Deposit shall be invested in funds mutually agreed to by the Parties and the Escrow Agent and disbursed in accordance with this Agreement and an escrow agreement dated on or before the date that the Deposit is required to be delivered, among Sellers, Three Rivers Operating Company LLC and Escrow Agent, which shall be substantially in the form attached hereto as Exhibit “E” (the “Escrow Agreement”), which shall be in form and substance reasonably satisfactory to Buyer and Sellers. In the event the Closing occurs, the Deposit, plus any interest earned thereon, shall be applied to the Base Purchase Price to be paid at Closing, subject to the other adjustments thereto as set forth in this Agreement. If Closing does not occur and the Agreement is terminated, then the Deposit plus the actual interest earned thereon shall be distributed as provided in Article 19 and the Escrow Agreement.