Earnest Money definition

Earnest Money means 10% of the Reserve Price for each Property.

Earnest Money means money placed with a holder by a prospective buyer of residential real property to show a good-faith intention to perform pursuant to an executed pur- chase and sale agreement.

Examples of Earnest Money in a sentence

If the Principal/Owner has disqualified the Bidder(s) from the Tender process prior to the award of the Contract or terminated/determined the Contract or has accrued the right to terminate/determine the Contract according to Article 3(1), the Principal/Owner apart from exercising any legal rights that may have accrued to the Principal/Owner, may in its considered opinion forfeit the entire amount of Earnest Money Deposit, Performance Guarantee and Security Deposit of the Bidder/Contractor.
In such cases, extension of validity of Earnest Money deposit by 30 days beyond the extended validity date of tender should also be asked for.
In addition, his user ID will be deactivated and Earnest Money Deposit will stand forfeited.
Whether the firm has enclosed the Bank Draft/Pay Order/Banker’s cheque of Earnest Money Deposit.
In case the bidder fails to deposit the said performance guarantee within the stipulated period, including the extended period if any, the Earnest Money deposited by the bidder shall be forfeited automatically without any notice to the bidder and the bidder will not be allowed to participate in the re tendering for the same work.

Earnest Money means 10% of the Total Consideration to be paid by the Applicant as per the Payment Plan for due fulfillment of the terms and conditions of the Application/Buyer’s Agreement.

Earnest Money means 15% of the Basic Sale Consideration of Unit

Earnest Money means 10% of the Total Price, including the booking amount paid by the Applicant(s).

Earnest Money means the booking amount/ booking amount paid alongwith this application.

Earnest Money means the amount equal to 10% of Consideration as specified in the Application Form / Provisional Allotment Letter; “Government Authority” means any government, statutory, departmental or public body or authority, including courts of competent jurisdiction; “Indenture of Conveyance” shall have the meaning ascribed to it in Clause 2.2 hereof;

Earnest Money means 10% of total price of the Unit.