Common use of Purchase Price; Deposits Clause in Contracts

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.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Summit Healthcare REIT, Inc), Purchase and Sale Agreement (Summit Healthcare REIT, Inc)

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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 Ten Million Five Eight Hundred Thousand and 00/100 Dollars ($4,500,000.0010,800,000.00). (b) Intentionally deletedThe Purchase Price as allocated to each 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 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.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Summit Healthcare REIT, Inc), Purchase and Sale Agreement (Summit Healthcare REIT, Inc)

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 Eleven Million Five Two Hundred Fifty Thousand and 00/100 Dollars ($4,500,000.0011,250,000). (b) Intentionally deletedThe 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 One Hundred Thousand and 00/100 Dollars ($25,000.00100,000) as an exxxxxx xxxxxxx money deposit (“Initial Deposit”) with Lawyers Title Insurance Company/Commonwealth Title, at its office at 4000 0000 Xxxxxxx Xxxxx Xxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, Attention: Dxxx Xxxx 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 Twentynon-Five refundable, except as otherwise expressly provided herein, One Hundred Thousand and 00/100 Dollars ($25,000.00100,000) (“Non-Refundable Additional Deposit”) within three (3) business days following the expiration of the Due Diligence Period (the Initial Deposit and the Non-Refundable Additional Deposit are collectively referred to as the “Deposits”). Interest earned on the Deposit Deposits shall be paid to the party entitled to such amount as provided in this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Summit Healthcare REIT, Inc)

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 One Hundred Thirty Million Five Hundred Thousand and 00/100 Dollars ($4,500,000.00130,000,000.00). (b) Intentionally deletedThe Purchase Price as allocated to each Facility by Seller is set forth on Schedule 3 attached hereto and made a part hereof. (c) Within three two (32) business days after this Agreement is fully executed by the parties, Buyer shall deposit the sum of Twenty-Five Two Hundred Fifty Thousand and 00/100 Dollars ($25,000.00250,000.00) as an exxxxxx money deposit (“Initial Deposit”) with Lawyers Commonwealth Land Title Insurance Company, at its office at 4000 Xxxxxxx Xxxxx Xxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, Attention: Dxxx Xxxxxxxx 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 BuyerBxxxx. 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 Two Hundred Fifty Thousand and 00/100 Dollars ($25,000.00250,000.00) (“Additional Deposit”) within three two (32) 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.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Summit Healthcare REIT, Inc)

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 Thirteen Million Four Million Five Hundred Thousand and 00/100 Dollars ($4,500,000.0013,400,000.00). (b) Intentionally deletedThe 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 two (32) business days after this Agreement is fully executed by the parties, Buyer shall deposit the sum of Twenty-Five One Hundred Thousand and 00/100 Dollars ($25,000.00100,000.00) as an exxxxxx money deposit (“Initial Deposit”) with Lawyers Title Insurance CompanyCommonwealth Land Title/Lawyers’ Title, 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 One Hundred Thousand and 00/100 Dollars ($25,000.00100,000.00) (“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.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Summit Healthcare REIT, Inc)

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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 Two Million Five Nine Hundred Thousand and 00/100 Dollars ($4,500,000.002,900,000.00). (b) Intentionally deletedThe 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-Seventy Five Thousand and 00/100 Dollars ($25,000.0075,000) as an exxxxxx money deposit (“Initial Deposit”) with Lawyers Title Insurance Company/Commonwealth Title, 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 Twentynon-refundable, except as otherwise expressly provided herein, Seventy Five Thousand and 00/100 Dollars ($25,000.0075,000) (“Non-Refundable Additional Deposit”) within three (3) business days following the expiration of the Due Diligence Period (the Initial Deposit and the Non-Refundable Additional Deposit Deposit, are collectively referred to as the “Deposits”). Interest earned on the Deposit Deposits shall be paid to the party entitled to such amount as provided in this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Summit Healthcare REIT, Inc)

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 Twenty Million Fifty-Five Hundred Thousand and 00/100 Dollars ($4,500,000.0020,055,000.00), which shall be allocated as agreed to by Buyer and Seller. (b) Intentionally deleted. Within two (c) Within three (32) business days after this Agreement is fully executed by the parties, Buyer shall deposit the sum of Twenty-Five One Hundred Thousand and 00/100 Dollars ($25,000.00100,000.00) as an exxxxxx money deposit (“Initial Deposit”) with Lawyers Commonwealth Land Title Insurance Company, at its office at 4000 Xxxxxxx Xxxxx Xxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, Attention: Dxxx Xxxxxxxx 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. 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 One Hundred Thousand and 00/100 Dollars ($25,000.00100,000.00) (“Additional Deposit”) within three two (32) business days following the expiration of the Due Diligence Period (the Initial Deposit and the Additional Deposit are collectively referred to as the “DepositsDeposit”). Interest earned on the Deposit shall be paid to the party entitled to such amount as provided in this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Summit Healthcare REIT, Inc)

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