Purchaser Deposit Clause Samples

Purchaser Deposit. Purchaser shall deposit with Sellers $200,000 ninety (90) days following the execution of the Stock Purchase Agreement. The deposit will be credited against the purchase price at Closing, returned to the Purchaser if DEA does not approve a change-in-control and therefore this Agreement is terminated or paid to Sellers if DEA approves the change-in-control and Purchaser does not consummate the transaction contemplated by this Agreement for any other reason.
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Purchaser Deposit. Upon execution of this Agreement Purchaser is depositing $ cash with Equity Partners HG LLC (“Escrow Agent”) as escrow agent (the “Purchaser Deposit”), which Purchaser Deposit shall be released by the Escrow Agent and delivered to either Purchaser or Sellers as follows: (a) If the Closing shall occur, then the Purchaser Deposit, together with all accrued interest thereon, shall be applied in accordance with Section 11.1(b) hereof towards the cash portion of the Purchase Price payable by Purchaser hereunder; (b) If this Agreement is terminated by Sellers pursuant to Section 11.2(b), then the Purchaser Deposit shall be delivered to Sellers, who shall be entitled to (i) retain the Deposit, and (ii) pursue any and all other remedies that Sellers may have against Purchaser with respect to any breach or violation by Purchaser under this Agreement; and (c) If this Agreement is terminated for any reason, other than by Sellers pursuant to Sections 11.2(b), then the Purchaser Deposit shall be returned to Purchaser together with all accrued interest thereon. Purchaser shall provide to Escrow Agent, at least twenty-four hours before the scheduled Closing, a written instruction in form and substance reasonably acceptable to Sellers, instructing Escrow Agent to release the full amount of the Purchaser Deposit to Escrow Agent by way of a wire transfer to an account designated by Escrow Agent or Sellers’ attorneys, by 10:00 a.m. on the Closing Date.
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Purchaser Deposit. On or prior to the Closing Date, the Purchaser or any of its related entities shall deposit $500,000 into a depository account at OSBOT.
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Purchaser Deposit. Purchaser will deposit a Fifteen Million and No/100 Dollars ($15,000,000.00) Letter of Credit (“Purchaser Letter of Credit”) on the date of the first Closing to occur under any of the Sale Agreements (defined below) with Chicago Title Insurance Company (“Escrow Agent” or “Title Company”). The Purchaser Letter of Credit shall be held by Escrow Agent pursuant to an Escrow Agreement in the form attached hereto as Exhibit E modified to conform to the terms of this Agreement and as required by Title Company when Title Company holds a letter of credit (“Escrow Agreement”). The Purchaser Letter of Credit shall (i) be unconditional and irrevocable, (ii) be in a form reasonably acceptable to Seller, (iii) be issued by a financial institution doing business in the United States of America, with offices in Chicago, Illinois and (iv) expire no earlier than March 15, 2006. The cost of issuing and maintaining the Purchaser Letter of Credit shall be paid by Seller and Seller’s failure to do so shall not be a breach or a default by Purchaser under this Agreement or any Other Agreements (as defined in Section 17.22 below) nor shall Seller have any right to direct Escrow Agent to draw upon the Purchaser Letter of Credit as a result of Seller’s failure as aforesaid. The Purchaser Letter of Credit and the proceeds of the Purchaser Letter of Credit (“Purchaser Proceeds”) have been provided to assure performance and observance by Purchaser of all of its closing obligations under this Agreement and five (5) other sale agreements entered into by and between Seller and Purchaser and dated of even date herewith relating to the sale of properties by Seller to Purchaser (this Agreement and the other five (5) Sale Agreements are herein collectively referred to as the “Sale Agreements”). Accordingly, in the event of the occurrence of a default under Section 13.2 of this Agreement or any of the other Sale Agreements or in the event that the Purchaser Letter of Credit will expire within thirty (30) days or less, Seller shall have the right to direct Escrow Agent to draw upon the Purchaser Letter of Credit. All Purchaser Proceeds received by Escrow Agent shall be retained by Escrow Agent and held or disbursed pursuant to the terms of the Escrow Agreement and this Agreement. At the time of the final Closing of all Properties, including, but not limited to, Substitute Properties (defined below) under all of the Sale Agreements, the Purchaser Letter of Credit shall be delivered to Purchaser....
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Purchaser Deposit. Within three (3) business days after the Effective Date, PURCHASER shall deliver to the Title Insurer a deposit in the sum of $100,000 (the "Deposit")showing PURCHASER'S good faith which will be held in escrow by the Title Insurer. If PURCHASER terminates this Agreement within the Study Period or the Study Period Extension, as provided herein, or if the terms of purchase are subject to any contingencies as specified, which are not satisfied (or waived) by the date of Closing or such earlier date as set forth in this Agreement, the deposit shall be refunded to PURCHASER. In the event of default by PURCHASER, the deposit shall be forfeited and paid to SELLER as liquidated damages for such default as SELLER'S sole and exclusive remedy.
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Purchaser Deposit. Purchaser has deposited the amount of Ten Million and No/100 Dollars ($10,000,000.00) (“Initial Deposit”) with Chicago Title Insurance Company (“Escrow Agent” or “Title Company”) in immediately available federal funds of the United States of America. The Initial Deposit, together with any interest thereon, are collectively referred to herein as the “Deposit.” The Deposit shall be held by Escrow Agent pursuant to an Escrow Agreement in the form attached hereto as Exhibit E.
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Purchaser Deposit. Upon execution of this Agreement and receipt by Purchaser of an invoice from Seller, Purchaser shall pay to Seller a deposit in the amount of US$ * (the “Purchaser Deposit”). * The confidential portion has been omitted pursuant to a request for confidential treatment filed by Air T, Inc. with the Securities Exchange Commission and filed separately with the Commission.
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Related to Purchaser Deposit

  • Purchase Price; Deposit (a) The purchase price for the Property is AND 00/100 DOLLARS ($ ) (the “Purchase Price”), payable as follows: (i) TEN PERCENT (10%) of the Purchase Price (which is equal to $ ) (the “Initial Deposit”, and together with the Additional Deposit (as hereinafter defined), if any and to the extent delivered by Purchaser, collectively, the “Deposit”) shall, within five (5) business days after the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined), as escrow agent (in such capacity, the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be refundable to Purchaser only to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-insured account by Escrow Agent in accordance with this Agreement pending the consummation of the Settlement (as defined below). At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser. The giving of the Deposit hereunder shall not be considered to be ▇▇▇▇▇▇▇ money. (ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds. (b) If there is a dispute between Seller and Purchaser regarding whether the Deposit shall be returned to Purchaser or delivered to Seller, Escrow Agent shall have no obligation to either Seller or Purchaser with respect to the Deposit except to interplead (invoke a concursus of) the Deposit into an appropriate court of competent jurisdiction. Escrow Agent may act upon any instrument or other writing believed by Escrow Agent in good faith to be genuine and to be signed and presented by the proper person.

  • Closing Escrow The Closing shall take place by means of a so called “New York style” escrow (the “Closing Escrow”), and, at or prior to the Closing, the Parties shall enter into a closing escrow agreement with the Escrow Agent with respect to the Closing Escrow in form and substance reasonably acceptable to Seller, Purchaser and the Escrow Agent (the “Closing Escrow Agreement”) pursuant to which (i) the Purchase Price to be paid by Purchaser pursuant to Section 3.3 shall be deposited with Escrow Agent, (ii) all of the documents required to be delivered by Seller and Purchaser at Closing pursuant to this Agreement shall be deposited with Escrow Agent, and (iii) at Closing, the Purchase Price (as adjusted pursuant to Section 3.1) and the ▇▇▇▇▇▇▇ Money shall be disbursed to Seller and the documents deposited into the Closing Escrow shall be delivered to Seller and Purchaser (as the case may be) pursuant to the Closing Escrow Agreement.

  • Escrow Deposit Concurrently with the execution and delivery of this Agreement, the Holder will deliver [the sum of ____________________ Dollars ($_____________) in lawful money of the United States of America by wire transfer of immediately available funds] [and] [[ ] Class A Trust Certificates] [and] [[ ] Class B Trust Certificates] in accordance with Section 14 of the Series Supplement] (the "Escrow Deposit"), to Escrow Agent to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit. Any cash amounts in the Escrow Deposit may be increased or decreased in accordance with the terms of Section 2.02(i)(vi) of the Warrant Agreement and the terms of this agreement will apply with equal force and effect to any such increased or decreased cash amounts in the Escrow Deposit.

  • Purchaser Deliveries At the Closing, Purchaser shall deliver to Seller: (a) The Assignment and Assumption Agreement; (b) Purchaser’s acceptance of its appointment as successor trustee or custodian, as applicable, of the ▇▇▇ and ▇▇▇▇▇ Accounts included in the Deposits and assumption of the fiduciary obligations of the trustee or custodian with respect thereto, as contemplated by Section 2.4; (c) The Branch Lease Assignments and such other instruments and documents as any landlord under a Branch Lease may reasonably require as necessary or desirable for providing for the assumption by Purchaser of a Branch Lease, each such instrument and document in form and substance reasonably satisfactory to the parties and dated as of the Closing Date; (d) The Tenant Assignments and such other instruments and documents as any subtenant under a Tenant Lease may reasonably require as necessary or desirable for providing for the assumption by Purchaser of a Tenant Lease, each such instrument and document in form and substance reasonably satisfactory to the parties and dated as of the Closing Date; (e) The Equipment Lease Assignments and such other instruments and documents as any lessor under an Equipment Lease may reasonably require as necessary or desirable for providing for the assumption by Purchaser of an Equipment Lease, each such instrument and document in form and substance reasonably satisfactory to the parties and dated as of the Closing Date; (f) The Assumed Contract Assignments and such other instruments and documents as any party under an Assumed Contract may reasonably require as necessary or desirable for providing for the assumption by Purchaser of an Assumed Contract, each such instrument and document in form and substance reasonably satisfactory to the parties and dated as of the Closing Date; (g) The Loan Documents Assignment and such other instruments and documents as Seller may reasonably require as necessary or desirable for providing for the assumption by Purchaser of the Loan Documents, each such instrument and document in form and substance reasonably satisfactory to the parties and dated as of the Closing Date; and (h) The certificate required to be delivered by Purchaser pursuant to Section 9.2(e).

  • Purchaser Closing Deliveries No later than 1 Business Day prior to the Closing Date (except for the balance of the Purchase Price which is to be delivered at the time specified in Section 2.2.4), Purchaser shall deliver to the Escrow Agent (for disbursement to Seller upon the Closing) the following items with respect to the Property being conveyed at such Closing: 5.3.1 The full Purchase Price (with credit for the Deposit), plus or minus the adjustments or prorations required by this Contract. 5.3.2 A title affidavit (or at Purchaser's option an indemnity) pertaining to Purchaser's activity on the Property prior to Closing, in the customary form reasonably acceptable to Purchaser, to enable Title Insurer to delete the standard exceptions to the title insurance policy set forth in this Contract (other than matters constituting any Permitted Exceptions and matters which are to be completed or performed post-Closing) to be issued pursuant to the Title Commitment; provided that such affidavit does not subject Purchaser to any greater liability, or impose any additional obligations, other than as set forth in this Contract. 5.3.3 Any declaration or other statement which may be required to be submitted to the local assessor with respect to the terms of the sale of the Property. 5.3.4 A closing statement executed by Purchaser. 5.3.5 A countersigned counterpart of the General Assignment. 5.3.6 A countersigned counterpart of the Leases Assignment. 5.3.7 Notification letters to all Tenants prepared and executed by Purchaser in the form attached hereto as Exhibit G. 5.3.8 The Vendor Terminations (Purchaser shall be solely responsible for identifying each of the Terminated Contracts (subject to the terms and conditions of Section 3.6) and addressing and preparing each of the Vendor Terminations for execution by Purchaser and Seller). 5.3.9 Any cancellation fees or penalties due to any vendor under any Terminated Contract as a result of the termination thereof. 5.3.10 Resolutions, certificates of good standing, and such other organizational documents as Title Insurer shall reasonably require evidencing Purchaser's authority to consummate this transaction.