Common use of Purchase Price and Terms of Payment Clause in Contracts

Purchase Price and Terms of Payment. A. The purchase price (“Purchase Price”) for the Property shall be SIX MILLION SIX HUNDRED THOUSAND and 00/100 DOLLARS ($6,600,000.00) and shall be paid on the Closing Date by Federal funds wire transfer, in United States dollars. B. Within two (2) business days after the expiration of the Review Period (as defined below), unless this Contract has been sooner terminated, Purchaser shall deposit ONE HUNDRED FIFTY THOUSAND and 00/100 DOLLARS ($150,000.00) (the “Deposit”) with Xxxxxx X. Graybill, Graybill, Xxxxxxx and Xxxxxxx, 0000 Xxxxxx Xxxxxx, Columbia, South Carolina 29205, Direct: (000) 000-0000, Facsimile: (000) 000-0000, Mobile: (000) 000-0000, xxxxxxxxx@xxxxxxxxxx.xxx (the “Escrow Agent”). If the transaction contemplated by this Contract closes in accordance with the terms and conditions of this Contract, at Closing, as defined below, the Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. The Deposit shall be promptly deposited by Escrow Agent in a separate, federally insured, interest-bearing account at a commercial bank approved by Seller. The interest accruing thereon shall be deemed to be part of the Deposit. To allow the interest bearing account to be opened, Purchaser and Seller shall separately furnish to Escrow Agent their respective tax identification numbers. C. The remaining balance of the Purchase Price shall be payable in cash or by wire transfer or other immediately available funds to Seller on the Closing Date.

Purchase Price and Terms of Payment. A. The purchase price (“Purchase Price”) for the Property shall be SIX MILLION SIX HUNDRED THOUSAND and 00/100 DOLLARS ($6,600,000.00) and shall be paid on the Closing Date by Federal funds wire transfer, in United States dollars. B. Within two (2) business days after the expiration of the Review Period (as defined below), unless this Contract has been sooner terminated, Purchaser shall deposit ONE HUNDRED FIFTY THOUSAND and 00/100 DOLLARS ($150,000.00) (the “Deposit”) with Xxxxxx X. Graybill, Graybill, Xxxxxxx and XxxxxxxVinzani, 0000 Xxxxxx Xxxxxx, Columbia, South Carolina 29205, Direct: (000) 000-0000, Facsimile: (000) 000-0000, Mobile: (000) 000-0000, xxxxxxxxx@xxxxxxxxxx.xxx (the “Escrow Agent”). If the transaction contemplated by this Contract closes in accordance with the terms and conditions of this Contract, at Closing, as defined below, the Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. The Deposit shall be promptly deposited by Escrow Agent in a separate, federally insured, interest-bearing account at a commercial bank approved by Seller. The interest accruing thereon shall be deemed to be part of the Deposit. To allow the interest bearing account to be opened, Purchaser and Seller shall separately furnish to Escrow Agent their respective tax identification numbers. C. The remaining balance of the Purchase Price shall be payable in cash or by wire transfer or other immediately available funds to Seller on the Closing Date.

Purchase Price and Terms of Payment. A. The purchase price (the “Purchase Price”) for the Property shall be SIX MILLION SIX HUNDRED THOUSAND Seventy One Million and 00/100 DOLLARS Dollars ($6,600,000.0071,000,000.00) and shall be paid on the Closing Date by Federal funds wire transfer, in United States dollars. The parties agree that the Purchase Price is allocated amongst the individual shopping centers which comprise the Property as set forth on Exhibit “C”. B. Within two (2) business days after the expiration of the Review Period (as defined below), unless this Contract has been sooner terminated, Purchaser shall deposit ONE HUNDRED FIFTY THOUSAND Two Hundred Fifty Thousand and 00/100 DOLLARS Dollars ($150,000.00250,000.00) (the “Initial Deposit”) shall be deposited by Purchaser in escrow with Xxxxxx X. Graybill, Graybill, Xxxxxxx and XxxxxxxVinzani, 0000 Xxxxxx Xxxxxx, Columbia, South Carolina 29205, Direct: (000) 000-0000, Facsimile: (000) 000-0000, Mobile: (000) 000-0000, xxxxxxxxx@xxxxxxxxxx.xxx 29205 as escrow agent (the “Escrow Agent”), within two (2) business days after the Effective Date. Provided that the Purchaser does not terminate the Contract during the Review Period, an additional Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00) (the “Second Deposit”) shall be deposited by Purchaser in escrow with the Escrow Agent, no later than two business days after the expiration of the Review Period. As used in this Contract, “Deposit” shall refer collectively to the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any. If the transaction contemplated by this Contract closes in accordance with the terms and conditions of this Contract, at Closing, as defined below, the Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. The Deposit shall be promptly deposited by Escrow Agent in a separate, federally insured, interest-bearing account at a commercial bank approved by Seller. The interest accruing thereon shall be deemed to be part of the Deposit. To allow the interest bearing account to be opened, Purchaser and Seller shall separately furnish to Escrow Agent their respective tax identification numbers. C. The remaining balance of the Purchase Price shall be payable in cash or by wire transfer or other immediately available funds to Seller on the Closing Date.