Earnest Money definition

Earnest Money means the amount equal to 10% of Consideration as specified in the Application Form / Provisional Allotment Letter;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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 purchase and sale agreement.

Examples of Earnest Money in a sentence

Purchaser will execute two (2) copies of this Agreement and three (3) copies of the Escrow Agreement and forward them to Seller for execution, accompanied with the Earnest Money payable to the Esc▇▇▇ ▇▇▇nt set forth in the Escrow Agreement.
If Purchaser terminates this Agreement in accordance with the terms of this Paragraph 5.1, this Agreement shall become null and void without further action of the parties and all Earnest Money theretofore deposi▇▇▇ ▇▇▇o the escrow by Purchaser together with any interest accrued thereon, shall be returned to Purchaser, and neither party shall have any further liability to the other, except for Purchaser's obligation to indemnify Seller and restore the Property, as more fully set forth in Paragraph 7.
If such notice is not timely given, this Agreement and all rights, duties and obligations of Buyer and Seller hereunder, except any which expressly survive termination, shall terminate and Escrow Agent shall forthwith return to Buyer the Earnest Money Deposit.
If the Agreement is terminated pursuant to this Paragraph, then the Earnest Money plus all accrued i▇▇▇▇▇▇▇ shall be delivered to the Purchaser.
If Purchaser elects to terminate this Agreement, then the Earnest Money plus all accrued i▇▇▇▇▇▇▇ shall be delivered to the Purchaser.

More Definitions of Earnest Money

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 15% of the Total Consideration to be paid by the Applicant as per the Payment Plan.

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 the earnest money deposit of Twenty Thousand Dollars and 00/100s ($20,000.00) to be deposited with the EDA upon execution of this Agreement by Developer.