Xxxxxxx Money Deposit. (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”
(b) The Xxxxxxx Money Deposit shall be held by Escrow Agent subject to the terms and conditions of an Escrow Agreement dated as of the date of this Contract entered into by Seller, Buyer and Escrow Agent (the “Escrow Agreement”). The Xxxxxxx Money Deposit shall be held in an interest-bearing account in a federally insured bank or savings institution reasonably acceptable to Seller and Buyer, with all interest to accrue to the benefit of the party entitled to receive it and to be reportable by such party for income tax purposes; provided, however, to the extent that Buyer instructs the Escrow Agent to apply the Xxxxxxx Money Deposit toward the Purchase Price in accordance with Section 2.4, interest shall be deemed to have accrued to the benefit of Buyer and be reportable by Buyer for income tax purposes.
Xxxxxxx Money Deposit. A $5,000 non-refundable deposit will be wire transferred or hand delivered in the form of certified funds to United Country | Blue Ridge Land and Auction no later than 48 hours following the close of auction. See closing agents contact information below. The balance of the purchase price will be due in full at closing.
Xxxxxxx Money Deposit. 2.3.1 All the bidders shall submit the EMD in e-Payment gate way system, DD or Banker’s Cheque along with Bid documents.
2.3.2 The 2% EMD of unsuccessful tenderers will be returned no sooner the tenders are finalized or end date of the Tender validity period whichever is earlier.
2.3.3 The xxxxxxx money deposited by the successful tenderer will not carry any interest and it will be dealt with as provided in the conditions stipulated in the Tender. The EMD of a nationalized bank or e-payment shall be valid for three months and extendable in case any valid extension of contract period is granted.
2.3.4 If an acceptable EMD is not submitted by a tenderer as mentioned above, then tender(s) of such tenderer(s) shall be rejected considering it a non-responsive and their Technical package shall not be opened and if opened then, it will not be evaluated. No post bid clarification shall be sought on EMD.
2.3.5 The EMD of the successful Tenderer shall be returned after receipt of performance security or being adjusted to Performance Security.
2.3.6 The EMD shall be forfeited:
a) If the Tenderers withdraws his Tender during the period of Tender validity,
b) If the Tenderers does not accept the correction of his Tender price,
c) If the successful Tenderers refuses or neglects to execute the contract or fails to furnish the required Performance Security within the time specified by the Employer.
2.3.7 EMD’s submitted after due date and time shall not be accepted and online tenders of such Tenderers shall liable to be rejected summarily. We will not be responsible for delay, loss or non-receipt of ‘EMD’ sent by post/ courier.
i. During the tender period, the Employer may issue further instructions to Tenderers or any modifications to existing tender documents in the form of an addendum. Such an amendment in the form of an addendum will be uploaded on the e-tendering portal within the date given in NIT which shall be available for all the prospective Tenderers who have purchased the tender document in the tender period.
ii. Sub-contracting shall be generally limited to 50% of the Contract price. The terms and conditions of sub-contracts and the payments that have to be made to the sub-contractors shall be the sole responsibility of the contractor. All the sub-contractors are to be approved from Employer.
Xxxxxxx Money Deposit. Within three (3) business days after the Execution Date, and as a condition precedent to the effectiveness of this Agreement, Buyer shall deposit in escrow with the Title Company by wire transfer or other immediately available funds the sum of Three Hundred Thousand Dollars ($300,000) (the “Initial Deposit”). If Buyer has not terminated this Agreement on or before the expiration of the Due Diligence Period as permitted herein, Buyer shall, on the first business day following the expiration of the Due Diligence Period, deposit an additional Six Hundred Thousand Dollars ($600,000) (the “Additional Deposit”) in escrow with the Title Company by wire transfer or other immediately available funds. The Initial Deposit and the Additional Deposit, as and when made as required herein, shall be referred to collectively as the “Deposit.” The Deposit shall be applied against the Purchase Price on the Closing of this Transaction and shall otherwise be held and delivered by the Title Company in accordance with the provisions of Article 13. If Buyer fails timely to make the Initial Deposit as provided herein, Buyer shall be deemed to have elected to terminate this Agreement, and Seller and Buyer shall have no further liability hereunder except for obligations which by the express terms of this Agreement survive the termination of this Agreement. If Buyer fails to make the Additional Deposit as and when required herein, Seller may enforce Buyer’s obligation to make the Additional Deposit and xxx to collect the same from Buyer, notwithstanding Seller’s termination of this Agreement and receipt of the Initial Deposit pursuant to the following Section 11.1. Buyer acknowledges and agrees that if it has not terminated this Agreement as of the expiration of the Due Diligence Period, Buyer’s obligation to make the Additional Deposit shall expressly survive any later termination of this Agreement by Seller for Buyer’s default.
Xxxxxxx Money Deposit. $ (if blank, then 5% of the Purchase Price, but no less than $2,500).
Xxxxxxx Money Deposit. Under certain conditions described in the REPC, this deposit may become totally non- refundable. $ (b) Additional Xxxxxxx Money Deposit (see Section 8.4 if applicable)
Xxxxxxx Money Deposit. Buyer must deposit the Xxxxxxx Money Deposit with Closing Agent on or before 5:00 PM in the time zone where the Property is located on the first business day after Seller countersigns this Agreement. The Xxxxxxx Money Deposit is non-refundable except as set forth in this Agreement and may be applied towards the amounts payable by Buyer hereunder. The escrow (“Escrow”) for the purchase of the Property shall be opened upon Closing Agent’s receipt of the Xxxxxxx Money Deposit and a fully signed copy of this Agreement.
Xxxxxxx Money Deposit. After acceptance by all Parties, the Buyer agrees to make a payment in the amount of $ as consideration by , 20 , at : ☐ AM ☐ PM (“Xxxxxxx Money”). The Xxxxxxx Money shall be applied to the Purchase Price at Closing and subject to the Buyer’s ability to perform under the terms of this Agreement. Any Xxxxxxx Money accepted ☐ is ☐ is not required to be placed in a separate trust or escrow account in accordance with Delaware law. The Xxxxxxx Money shall be held by (“Escrow Agent”).
Xxxxxxx Money Deposit. Within 24 hours of execution of this Sale Contract, Buyer will pay ten percent (10.00%)
Xxxxxxx Money Deposit. After acceptance by all Parties, the Buyer agrees to make a payment in the amount of $______________________ as consideration by ____________________, 20___, at ____:____ ☐ AM ☐ PM (“Xxxxxxx Money”). The Xxxxxxx Money shall be applied to the Purchase Price at Closing and subject to the Buyer’s ability to perform under the terms of this Agreement. Any Xxxxxxx Money accepted ☐ is ☐ is not required to be placed in a separate trust or escrow account in accordance with New York law. The Xxxxxxx Money shall be held by ____________________ (“Escrow Agent”).
