Purchase Price; Deposits. The following shall apply with respect to the Purchase Price of the Property:
(a) The purchase price (the “Purchase Price”) payable by Buyer to Seller for the Facility is Nine Million Seven Hundred Thousand and 00/100 Dollars ($9,700,000.00).
(b) The Purchase Price as allocated to the Facility by Seller is set forth on Schedule 3 attached hereto and made a part hereof.
(c) Within three (3) business days after this Agreement is fully executed by the parties, Buyer shall deposit the sum of Twenty-Five Thousand and 00/100 Dollars ($25,000.00) as an exxxxxx money deposit (“Initial Deposit”) with Chicago Title Insurance Company at its offices at 200 X. Xxxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx-Xxxxx, Xxxxx Xxxxxxxx 00000, Attn: Kxx Xxxxxxxx, (“Title Company” or “Escrow Agent”) and Escrow Agent will deposit it into an interest-bearing account with the interest for the benefit of Buyer. In addition, if Buyer has not terminated this Agreement on or before the expiration of the Due Diligence Period (defined below), then Buyer shall deposit with Escrow Agent an additional Twenty-Five Thousand and 00/100 Dollars ($25,000.00) (“Additional Deposit”) within three (3) business days following the expiration of the Due Diligence Period (the Initial Deposit and the Additional Deposit are collectively referred to as the “Deposits”). Interest earned on the Deposit shall be paid to the party entitled to such amount as provided in this Agreement.
(d) At Closing, the Deposit shall be credited against the Purchase Price and Buyer shall deposit the balance of the Purchase Price in Cash to the Escrow Agent.
(e) Buyer shall not assume or pay, and Seller shall continue to be responsible for, any and all debts, obligations and liabilities of any kind or nature, fixed or contingent, known or unknown, of Seller not expressly assumed by Buyer in this Agreement. Specifically, without limiting the foregoing, Buyer shall not assume any obligation, liability, cost, expense, claim, action, suit or proceeding pending as of the Closing, nor shall Buyer assume or be responsible for any subsequent claim, action, suit or proceeding arising out of or relating to any such other event occurring, with respect to the manner in which Seller conducted its business at the Facility, on or prior to the date of the Closing Date. In addition, Buyer shall not assume successor liability obligations to Medicaid, HMO or any other third party payer programs or be responsible for recoupment’s, fines, or penalties required...
Purchase Price; Deposits. The following shall apply with respect to the Purchase Price of the Property:
(a) The purchase price (the “Purchase Price”) payable by Buyer to Seller for the Property is Four Million Five Hundred Thousand and 00/100 Dollars ($4,500,000.00).
(b) Intentionally deleted.
(c) Within three (3) business days after this Agreement is fully executed by the parties, Buyer shall deposit the sum of Twenty-Five Thousand and 00/100 Dollars ($25,000.00) as an exxxxxx money deposit (“Initial Deposit”) with Lawyers Title Insurance Company, at its office at 4000 Xxxxxxx Xxxxx Xxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, Attention: Dxxx Xxxxxxxx (“Title Company” or “Escrow Agent”) and Escrow Agent will deposit it into an interest-bearing account with the interest for the benefit of Buyer. In addition, if Buyer has not terminated this Agreement on or before the expiration of the Due Diligence Period (defined below), then Buyer shall deposit with Escrow Agent an additional Twenty-Five Thousand and 00/100 Dollars ($25,000.00) (“Additional Deposit”) within three (3) business days following the expiration of the Due Diligence Period (the Initial Deposit and the Additional Deposit are collectively referred to as the “Deposits”). Interest earned on the Deposit shall be paid to the party entitled to such amount as provided in this Agreement.
Purchase Price; Deposits. The Developer shall pay to the Town the sum of Dollars ($ ) (the “Purchase Price”) for the Property, of which (i) Thirty Thousand ($30,000.00) Dollars has previously been paid to the Town as a “Proposal Deposit” pursuant to the RFP, (ii) Fifty Thousand ($50,000.00) Dollars has previously been paid to the Town as a “Selection Deposit” pursuant to the RFP, and (iii) Two Hundred Thousand ($200,000.00) Dollars has this day been paid to the Town as an “Execution Deposit” pursuant to the RFP (collectively, the “Deposits”), which will be held and disbursed in accordance with the terms of this Agreement. The balance of the Purchase Price shall be paid in full at the time of the “Closing” (as hereinafter defined) by wire transfer of immediately available funds to an account designated by the Town in writing.
Purchase Price; Deposits. The total purchase price (the “Total Purchase Price”) for the Estate Home shall be payable in United States Dollars as follows: First Deposit equivalent to ten percent (10%) of the Purchase Price due seven (7) business days following the expiration of the Due Diligence Period pursuant to Section 6 below and following receipt by the Escrow Agent of all documentation required to open the Escrow Account. If the First Deposit is not received when due, this Agreement shall terminate and be null and void. Thereafter, neither party shall have any further liability or obligation to the other under this Agreement. $_645,000.00 Second Deposit equivalent to ten percent (10%) of the Purchase $ 645,000.00 Price, due seven (7) business days following notice by Seller to Purchaser of Infrastructure Commencement (as defined in Section 5 (d) below) Third Deposit equivalent to twenty percent (20%) of the Purchase Price, due seven (7) business days following notice by Seller to Purchaser of Foundation Completion (as defined in Section 5(d) below) $_1,290,000.00 Fourth Deposit equivalent to twenty percent (20%) of the Purchase Price, due seven (7) business days following notice by Seller to Purchaser of completion of Building Lockup (as defined in Section 5(d) below) $_1,290,000.00 Fifth Deposit equivalent to twenty percent (20%) of the Purchase Price, due seven (7) business days following notice by Seller to Purchaser of completion of Internal Fit-Out (as defined in Section 5(d) below) $_1,290,000.00 Balance Due at Closing: Balance of twenty percent (20%) of the Purchase Price plus Costs Associated with Transfer of Concession and other closing costs, (collectively “Additional Closing Costs” as defined in subsection 2 (c) below), due two (2) business days before Closing $_1,290,000.00 (plus Additional Closing Costs) Total Purchase Price $_6,450,000.00 (plus Additional Closing Costs)
Purchase Price; Deposits. The following shall apply with respect to the Purchase Price of the Property:
(a) The purchase price (the “Purchase Price”) payable by Buyer to Seller for the Property shall be Twenty-Seven Million and 00/100 Dollars ($27,000,000.00).
(b) Within three (3) business days after this Agreement is fully executed by the parties, Buyer shall deposit the sum of Twenty-Five Thousand and 00/100 Dollars ($25,000.00) as an exxxxxx money deposit (“Deposit”) with Commonwealth Land Title, at its office at 4000 Xxxxxxx Xxxxx Xxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, Attention: Kxxxx Xxxxx (“Title Company” or “Escrow Agent”) and Escrow Agent will deposit it into an interest-bearing account with the interest for the benefit of Buyer. Interest earned on the Deposit shall be paid to the party entitled to such amount as provided in this Agreement. The Deposit shall be non-refundable except as otherwise set forth in this Agreement.
Purchase Price; Deposits. The following will apply with respect to the Purchase Price of the Property:
Purchase Price; Deposits. 2.2.1. The purchase price (“Purchase Price”) for the sale and purchase of the Hotel shall be Fifty-Two Million Two Hundred Thousand Dollars ($52,200,000.00), subject to the debits and credits described in ARTICLE 10. Seller and Buyer shall cooperate with each other in good faith to arrive, prior to the Closing, at a mutually acceptable allocation of the Purchase Price (the “Allocation”) among the Land, the Improvements and the personal property, with the amount allocable to personal property being further allocated between tangible personal property and intangible property. Seller and Buyer agree to (i) be bound by the Allocation, (ii) act in accordance with the Allocation in the preparation of financial statements and filing of all tax returns and in the course of any tax audit, tax review or tax litigation relating thereto, and (iii) refrain from, and cause their affiliates to refrain from, taking a position inconsistent with the Allocation for all tax purposes. If Seller and Buyer cannot agree upon the Allocation prior to the Closing, each party shall file federal, state and local tax returns based on each party’s own determination of the Allocation, each bearing its own consequences of any discrepancies.
2.2.2. The Deposits and Purchase Price shall be payable as follows:
2.2.2.1. Within three (3) Business Days following the execution and delivery of this Agreement by Seller and Buyer, Buyer shall deposit into escrow with Escrow Agent the sum of One Million Dollars ($1,000,000.00) (“Initial Deposit”) by wire transfer of immediately available funds.
2.2.2.2. If Buyer shall not terminate this Agreement as and in the manner provided in Section 5.1.1. hereof, on or prior to the expiration of the Due Diligence Period, Buyer shall deposit into escrow with Escrow Agent the sum of One Million Dollars ($1,000,000.00) (“Second Deposit”) by wire transfer of immediately available funds.
2.2.2.3. The Initial Deposit and, if and when made, the Second Deposit, together with any interest accrued on either of them, shall be referred to collectively as the “Deposit.” The Deposit shall be held in accordance with Section 8.1. At Closing, the Deposit shall be paid to or at the direction of Seller and credited against the Purchase Price.
2.2.2.4. At Closing, Buyer shall pay the balance of the Purchase Price to or at the direction of Seller by wire transfer of immediately available funds.
Purchase Price; Deposits. 1. Purchaser agrees to pay a purchase price of Nineteen Million Dollars ($19,000,000) (the "Purchase Price") for the Property. The Purchase Price, plus or minus prorations, credits, and adjustments, if any, as hereinafter provided, shall be payable as follows:
1. Ten Thousand Dollars ($10,000) shall have been deposited by Purchaser in escrow with Xxxxx Xxxxxxx & Xxxxxxx P.C. (the "Escrow Agent") with the execution of the Offer to Purchase accepted by Seller on March 19, 1998.
Purchase Price; Deposits. In consideration of Developer's reserving this Unit, the Buyer agrees to pay a deposit of One Thousand ($1,000.00) Dollars, in U.S. currency the receipt of which is hereby acknowledged, which sum will be applied towards the deposit made with a Purchase and Sale Agreement. In addition to the $1,000 initial deposit, Buyer herein provides a PreApproval letter. The purchase price to be paid for said Condominium Unit# will be $ of which:
Purchase Price; Deposits
