Xxxxxxx Money and Independent Consideration. 2.2.1 Within three (3) business days after the Effective Date of this Agreement, Purchaser shall deposit xxxxxxx money with the Title Company/Escrow Agent (as hereinafter defined) in the amount of TWO MILLION AND NO /100 DOLLARS ($2,000,000.00) (the “Initial Deposit”). In the event that Purchaser does not exercise its right to terminate this Agreement pursuant to Section 3.6 hereof on or before the Approval Date, then Purchaser shall, on April 30, 2016 and May 30, 2016, deposit with the Title Company/Escrow Agent additional xxxxxxx money deposits, each in the amount of ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) (collectively, the “Additional Deposit”). The Initial Deposit and the Additional Deposit are sometimes collectively referred to herein as the “Deposit.” Upon delivery of the Deposit to the Title Company/Escrow Agent, the Deposit shall be non‑refundable (except as otherwise specified herein). The Deposit shall be in good funds, either by cashier’s check or by federal wire transfer and shall be delivered to and held by the Title Company/Escrow Agent pursuant to the terms, covenants and conditions of this Agreement. If Purchaser fails to make the Deposit as and when required herewith, Seller may terminate this Agreement by written notice to Purchaser, in which case the parties shall have no further obligation to each other except for any provisions that expressly survive the termination of this Agreement.
Xxxxxxx Money and Independent Consideration. Within three (3) business days after the full execution of this Contract by both Seller and Buyer, Buyer shall deposit FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000) as "XXXXXXX MONEY" with the "Title Company," as hereinafter defined ("ESCROW AGENT"). The Xxxxxxx Money will be deposited in a federally insured, market rate, interest-bearing account chosen by Escrow Agent. At Closing, the Xxxxxxx Money and any interest earned thereon will be applied to the Sales Price. Notwithstanding any provision of this Contract to the contrary, a portion of the Xxxxxxx Money in the amount of ONE HUNDRED AND NO/100 DOLLARS ($100.00) shall be non-refundable and shall be distributed to Seller at the Closing or other termination of this Contract (other than a termination resulting from Seller's breach of this Contract), as full payment and independent contract consideration for Seller's performance under this Contract.
Xxxxxxx Money and Independent Consideration. Within three (3) Business Days after the Effective Date, Buyer shall deliver by wire transfer or other immediately available funds the sum of $500,000.00 and all interest accrued thereon (the “Xxxxxxx Money”) to Independence Title Company, 00000 Xxxxxxx Xxxxx, Xxxxx 000, Xxx Xxxxxxx, Xxxxx 00000, Attention: Xxxxx X. Xxxxxx ("Title Company"). The Xxxxxxx Money shall thereafter be held by the Title Company in escrow in an interest bearing account to be applied or disbursed as herein provided. Notwithstanding the foregoing and anything in this Contract to the contrary, $100.00 of the Xxxxxxx Money shall be non-refundable in all circumstances and shall constitute consideration paid by Buyer to Seller for Buyer’s Review Period (hereafter defined) (the “Independent Consideration”). Seller and Buyer hereby mutually acknowledge and agree that the Independent Consideration represents adequate bargained for consideration for Seller's execution and delivery of this Contract and Buyer' s right to inspect the Property pursuant to the terms of this Contract. The Independent Consideration is independent of any other consideration or payment provided for in this Contract and is nonrefundable in all events. Notwithstanding anything contained in this Contract to the contrary, if Buyer's Review Period has expired and Buyer has not timely terminated this Contract pursuant to Section 8.11, then the Xxxxxxx Money will be non-refundable to Buyer except in the event of Seller default as provided in Section 8.1 or pursuant to Section 8.12. If the purchase and sale hereunder is consummated in accordance with the terms
Xxxxxxx Money and Independent Consideration. Payment of the Purchase Price is to be made in cash as follows:
Xxxxxxx Money and Independent Consideration. Payment of the Purchase Price is to be made in cash as follows: 2.2.1 (a) On July 31, 2013, Purchaser shall deposit xxxxxxx money with the Title Company (as hereinafter defined) in the amount of Eight Hundred Twelve Thousand Five Hundred AND NO/100 DOLLARS ($812,500.00) (the “Deposit”) in the form of cash to be held by Title Company pursuant to the terms, covenants and conditions of this Agreement. Upon delivery of the Deposit to the Title Company, the Deposit shall be non-refundable (except as otherwise specified herein). The Deposit shall be in good funds, either by cashier’s check or by federal wire transfer and shall be delivered to and held by the Title
Xxxxxxx Money and Independent Consideration. 2.2.1 Within one (1) day after the Effective Date of this Agreement, Purchaser shall deposit xxxxxxx money with the Title Company/Escrow Agent (as hereinafter defined) in the amount of [AMOUNT] DOLLARS (the "Deposit"). The Deposit shall be non refundable (except as otherwise specified herein). The Deposit shall be in good funds, either by cashier's check or by federal wire transfer and shall be delivered to and held by the Title Company/Escrow Agent pursuant to the terms, covenants and conditions of this Agreement. If Purchaser fails to make the Deposit as and when required herewith, Seller may terminate this Agreement by written notice to Purchaser, in which case the parties shall have no further obligation to each other except for any provisions that expressly survive the termination of this Agreement.
Xxxxxxx Money and Independent Consideration
