Xxxxxxx Money; Amount and Payment Sample Clauses

Xxxxxxx Money; Amount and Payment. Within one (1) day after Seller’s execution of this Agreement, Purchaser shall deliver, in cash or immediately available funds, the amount of One Hundred Thousand and NO/100 Dollars ($100,000.00) (the “Xxxxxxx Money”) to the Title Company. In addition, upon the expiration of the Due Diligence Period, Purchaser shall deposit with the Title Company an additional One Hundred Thousand and NO/100 Dollars ($100,000.00) (the “Additional Xxxxxxx Money”). Title Company shall deposit the funds deposited with it by Purchaser pursuant to this paragraph (collectively the “Deposit”), in a state or federally chartered bank in an interest bearing account whose term is appropriate and consistent with the timing requirements of this transaction. The interest therefrom shall accrue to the benefit of Purchaser, who hereby acknowledges that there may be penalties or interest forfeiture if the applicable instrument is redeemed prior to its specified maturity. Purchaser’s Federal Tax Identification Number is 00-0000000. The failure of Purchaser to timely deliver the Xxxxxxx Money or the Additional Xxxxxxx Money as provided for herein shall, at Seller’s option, cause this Agreement to be terminated, and thereafter neither party shall have any further right or obligation under this Agreement, except for Surviving Obligations.
Sample 1
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Xxxxxxx Money; Amount and Payment. Within three (3) business days after the Effective Date (hereinafter defined), Purchaser shall deliver its check in the amount of One Thousand and No/100 Dollars ($1,000.00) (the “Xxxxxxx Money”) to Rattikin Title Company, 000 Xxxxx Xxxxxx, Xxxxx 000 Xxxxxxxxx, Xxxxx 00000 (the “Title Company”). The Title Company shall cash the Xxxxxxx Money check and deposit the proceeds thereof in an account and at a depository selected by Purchaser, with interest, if any, to accrue to the benefit of Purchaser, and such interest shall not be part of the Xxxxxxx Money but shall be distributed to Purchaser from time to time upon Purchaser’s request to the Title Company. The Xxxxxxx Money shall be non-refundable, except in case of Seller’s uncured breach of this Agreement and shall either shall be applied to the Purchase Price upon Closing or turned over to Seller if Purchaser, for any reason other than Seller’s uncured breach of this Agreement, fails to close the transaction set forth in this Contract.
Sample 1

Related to Xxxxxxx Money; Amount and Payment

  • AMOUNT AND PAYMENT OF PURCHASE PRICE The total consideration and method of payment thereof are fully set out in Exhibit "A" attached hereto and made a part hereof.

  • Currency of Account and Payment U.S. dollars (the “Contractual Currency”) is the sole currency of account and payment for all sums payable by a party under or in connection with this Agreement, including damages.

  • Amount and Payment of Special Interest Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof; provided, however, that in no event will Special Interest, together with any Additional Interest, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note will be in addition to the Stated Interest that accrues on such Note and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Interest that accrues on such Note.

  • Designation, Amount and Par Value The series of preferred stock shall be designated as the Series D 5% Convertible Preferred Stock (the "Preferred Stock"), and the number of shares so designated and authorized shall be Three Thousand (3,000). Each share of Preferred Stock shall have a par value of $0.0001 per share and a stated value of $1,000 per share (the "Stated Value").

  • Calculation and Payment Interest on Base Rate Loans shall be calculated on the basis of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR Loans, including amounts due under Subsection 1.4, shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of a LIBOR Interest Period shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of a LIBOR Interest Period shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on Base Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(G)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the applicable Term Loan Maturity Date or the Revolver Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1) the last day of each applicable LIBOR Interest Period; (2) if the LIBOR Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such LIBOR Interest Period; (3) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4) the applicable Term Loan Maturity Date or the Revolver Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid.

  • Collection and Payment The Trustees shall have full power and authority to collect all property due to the Trust; to pay all claims, including taxes, against the Trust or Trust Property; to prosecute, defend, compromise, settle or abandon any claims relating to the Trust or Trust Property; to foreclose any security interest securing any obligations, by virtue of which any property is owed to the Trust; and to enter into releases, agreements and other instruments.

  • Interest Rate and Payment The principal amount of the Loan shall bear interest from the date of the Note until the Maturity Date (unless otherwise accelerated as provided herein) at a rate per annum equal to the minimum interest rate necessary to avoid income imputation under the Internal Revenue Code as of the date of the Note. Interest shall be due and payable on the Maturity Date.

  • Sale and Payment Under this agreement, the following provisions shall apply with respect to the sale of and payment for Series shares:

  • Amount of repayment instalments The Borrower shall repay the Loan by:

  • Payment of Outstanding Indebtedness, etc The Administrative Agent shall have received evidence that immediately after the making of the Loans on the Closing Date, all Indebtedness under the Existing Credit Agreement and any other Indebtedness not permitted by Section 7.04, together with all interest, all payment premiums and all other amounts due and payable with respect thereto, shall be paid in full from the proceeds of the initial Credit Event, and the commitments in respect of such Indebtedness shall be permanently terminated, and all Liens securing payment of any such Indebtedness shall be released and the Administrative Agent shall have received all payoff and release letters, Uniform Commercial Code Form UCC-3 termination statements or other instruments or agreements as may be suitable or appropriate in connection with the release of any such Liens.

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