Common use of XXXXXXX MONEY DEPOSIT; ESCROW AGENT Clause in Contracts

XXXXXXX MONEY DEPOSIT; ESCROW AGENT. Concurrently with Xxxxx’s execution and delivery of this Contract, Buyer shall deposit the Xxxxxxx Money Deposit with Auction Company, as escrow agent, to be held in a non-interest bearing escrow account for the mutual benefit of Seller and Buyer, and disbursed according to the terms of this Contract. Xxxxx acknowledges and agrees that Auction Company is authorized to wire the Xxxxxxx Money Deposit to the Closing Agent no less than one (1) business day prior to the Closing Date to be held by the Closing Agent and applied toward the Purchase Price. For purposes of the application of this Contract at any given time, “Escrow Agent” refers to: (a) Auction Company with respect to all or such portion of the Xxxxxxx Money Deposit held by Auction Company at such time; and/or (b) the Closing Agent with respect to all or such portion of the Xxxxxxx Money Deposit held by the Closing Agent at such time.

XXXXXXX MONEY DEPOSIT; ESCROW AGENT. Concurrently Simultaneously with Xxxxx’s the execution and delivery of this ContractContract by Xxxxx and Seller, Buyer shall deposit the Xxxxxxx Money Deposit with Auction Company, as escrow agent, to be held in a non-interest bearing escrow account for the mutual benefit of Seller and Buyer, and disbursed according to the terms of this Contract. Xxxxx acknowledges and agrees that Auction Company is authorized to wire the Xxxxxxx Money Deposit to the Closing Agent no less than one (1) business day prior to the Closing Date to be held by the Closing Agent and applied toward the Purchase Price. For purposes of the application of this Contract at any given time, “Escrow Agent” refers to: (a) Auction Company with respect to all or such portion of the Xxxxxxx Money Deposit held by Auction Company at such time; and/or (b) the Closing Agent with respect to all or such portion of the Xxxxxxx Money Deposit held by the Closing Agent at such time.

XXXXXXX MONEY DEPOSIT; ESCROW AGENT. Concurrently with Xxxxx’s execution and delivery of this Contract, Buyer shall deposit the Xxxxxxx Money Deposit with Auction Company, as escrow agent, to be held in a non-interest bearing escrow account for the mutual benefit of Seller and Buyer, and disbursed according to the terms of this Contract. Xxxxx Buyer acknowledges and agrees that Auction Company is authorized to wire the Xxxxxxx Money Deposit to the Closing Agent no less than one (1) business day prior to the Closing Date to be held by the Closing Agent and applied toward the Purchase Price. For purposes of the application of this Contract at any given time, “Escrow Agent” refers to: (a) Auction Company with respect to all or such portion of the Xxxxxxx Money Deposit held by Auction Company at such time; and/or (b) the Closing Agent with respect to all or such portion of the Xxxxxxx Money Deposit held by the Closing Agent at such time.