Common use of Xxxxxxx Money Escrow Agreement Clause in Contracts

Xxxxxxx Money Escrow Agreement. The Xxxxxxx Money shall be held and disbursed by the Escrow Company acting as escrow agent pursuant to the terms of this Agreement. The Xxxxxxx Money shall be invested in a federally issued or insured interest bearing instrument and shall be paid to the party to which the Xxxxxxx Money is required to be paid pursuant to the provisions of this Agreement. If the sale of the Property is consummated in accordance with the terms of this Agreement, the Xxxxxxx Money shall be applied to the Purchase Price to be paid by Purchaser at the Closing. In the event of a default under this Agreement by Purchaser or Seller or the termination of this Agreement in accordance with its terms, the Xxxxxxx Money shall be disbursed as provided in this Agreement.

Xxxxxxx Money Escrow Agreement. The Xxxxxxx Money shall be held and disbursed by the Escrow Company acting as escrow agent pursuant to the terms of this Agreement. The Xxxxxxx Money shall be invested in a federally issued or insured interest bearing instrument and shall be paid to the party to which the Xxxxxxx Money is required to be paid pursuant to the provisions of this Agreement. If the sale of the Property is consummated in accordance with the terms of this Agreement, the Xxxxxxx Money shall be applied to the Purchase Price to be paid by Purchaser at the Closing. In the event of a default under this Agreement by Purchaser or Seller or the termination of this Agreement in accordance with its terms, the Xxxxxxx Money shall be disbursed applied as provided in this Agreement.