Third Deposit. Provided Buyer has not delivered the Termination Notice (as defined below) prior to the expiration of the Inspection Period , within one hundred five (105) days after the Effective Date, the Buyer shall deliver to the Escrow Agent a third deposit in the amount of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00) (the “Third Deposit”).
Third Deposit. 15% of the Purchase Price equivalent to USD$ [INCLUDE]. The “Third Deposit” equivalent to fifteen percent (15%) of the Purchase Price shall be due by the Purchaser to the Escrow Agent when the Construction Commencement Milestone is completed, which shall be duly certified by Inspector by means of the corresponding Construction Milestone. This deposit shall be applied to the Purchase Price in favor of and to be credited/registered under the name of the Purchaser once the Escrow Agent release it to the Seller. This Third Deposit shall be released by the Escrow Agent to the Seller immediately upon receipt by the Escrow Agent and at the instruction of the Seller. Fourth Deposit: 10% of the Purchase Price equivalent to USD$ [INCLUDE]. The “Fourth Deposit” equivalent to ten percent (10%) of the Purchase Price shall be due by the Purchaser to the Escrow Agent once Roofing Completion Milestone is achieved (as defined in Section 6(c) below), which shall be duly certified by Inspector by means of the corresponding Construction Milestone Certificate. This Fourth Deposit shall be released by Escrow Agent to Seller when the Roofing Completion Milestone is properly completed, upon the delivery of the corresponding Milestone Certificate. Balance: 55% of the Purchase Price equivalent to USD$ [INCLUDE]. The “Balance” equivalent to fifty-five percent (55%) of the Purchase Price shall be due by the Purchaser to the Escrow Agent upon receipt of (i) the Closing Notice (as defined in Section 5(d) below) by Seller and (ii) the Substantial Completion Milestone Certificate issued by the Inspector (as defined in Section 6(d) below) and sent by Seller. This Balance deposit shall be released by Escrow Agent to Seller only at Closing.
Third Deposit. The definition of “Third Deposit” set forth in the Agreement is hereby deleted in its entirety and replaced with the following:
Third Deposit. A deposit in the amount of One Million Dollars ($1,000,000) (the "THIRD DEPOSIT") shall be delivered to the Escrow Agent on January 4, 2006 if Buyer elects to extend Closing as provided herein, by federal wire transfer of immediately available funds, to be held in escrow by Escrow Agent pursuant to the terms of the Escrow Agreement. The Initial Deposit, Second Deposit and Third Deposit and all interest earned thereon shall be hereinafter collectively referred to as the "DEPOSIT".
Third Deposit. On or before November 8, 2007, Purchaser shall deposit with Seller a deposit in the amount of One Million One Hundred Thousand and 00/100 ($1,100,000.00) Dollars. The First Deposit, Second Deposit and Third Deposit shall be collectively referred to as the “Deposit”.
Third Deposit. Third Deposit shall refer to the third deposit as provided in Section 3.1.
