Extension Deposit(s) definition

Extension Deposit(s) means deposits of Five Thousand and No/100 Dollars ($5,000.00) each, in connection with extending the Inspection Period as defined herein, which amounts shall be included as part of the Additional Deposit and applied to the Purchase Price at the Closing.
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Examples of Extension Deposit(s) in a sentence

  • Due dates for Extension Deposits during the exten- sion period may be delayed when Contractor earns Contract Term Adjustment if Termination Date, as ad- justed, results in one or more additional complete‌‌‌‌‌‌‌‌‌ months within Normal Operating Season(s).

  • The Initial Deposit and any Extension Deposits (as hereinafter defined) are defined herein, collectively, as the “Deposit” shall be applicable to the purchase price.

  • Any Extension Deposits delivered to Seller shall not be deemed part of the Deposit, but shall nevertheless be applied to the Purchase Price if the Closing occurs.

  • If Closing does not occur all Extension Deposits shall be retained by Seller unless the failure to close on the purchase of the Property results from either (i) Seller fails to execute and deliver the Deeds required by Section 5.6.1; (ii) Seller fails or refuses to satisfy at Closing all outstanding mortgages and deeds of trusts encumbering the Property; or (iii) Buyer terminates this Agreement as permitted under Article 7.

  • The term “Deposit” shall collectively refer to the Initial Deposit, any Additional Deposit made pursuant to Section 6(c) below, and any Closing Extension Deposit(s) made pursuant to Section 19 below.

  • The Initial Deposit and Extension Deposit(s), as applicable, may be referenced individually in this Agreement or collectively referred to as the “Deposit” in this Agreement.

  • The parties hereby agree that the amount of the Deposit and any Extension Deposits is a fair and reasonable estimate of the total detriment that Seller would suffer in the event of Purchaser’s default and failure to duly complete the acquisition hereunder.

  • By its execution of this Agreement, the Title Company hereby agrees to treat the Deposit and any Extension Deposits in accordance with the foregoing provisions, which supersede any standard form or other escrow instructions of the Title Company.

  • After the Inspection Deadline, the Initial Deposit, Second Deposit, Third Deposit, Fourth Deposit and Fifth Deposit, and Extension Deposits, if any, immediately upon deposit with Escrow Holder shall be immediately released to Seller and shall be non-refundable to Buyer except as otherwise expressly set forth in this Agreement.

  • If Purchaser fails to timely cure such default, Seller, as its sole and exclusive remedy, shall be entitled to terminate this Agreement and have the Deposit and any Extension Deposits paid to Seller as liquidated damages.