Examples of Initial Exxxxxx Money in a sentence
Within 3 business days after receipt of a fully executed copy of this Agreement, Purchaser shall deposit the Initial Exxxxxx Money with the Escrow Agent.
The aggregate of the Initial Exxxxxx Money Deposit and the Remaining Exxxxxx Money Deposit.
The failure of Purchaser to timely deliver the Initial Exxxxxx Money shall be a material default and shall entitle Seller, at Seller’s sole option and prior to the time the Initial Exxxxxx Money is received by Escrow Agent, to terminate this Agreement immediately upon written notice thereof to Purchaser, in which case neither party shall have any further rights or obligations under this Agreement except those that expressly survive termination.
Within two (2) Business Days of the Effective Date, Buyer shall deposit the Initial Exxxxxx Money Deposit in escrow with the Title Company.
The Initial Exxxxxx Money, Additional Exxxxxx Money and Extension Payment (as defined herein), if any, and all interest earnings thereon are collectively referred to herein as the “Exxxxxx Money.” The Title Company will immediately deposit the Exxxxxx Money in accordance with the Escrow Agreement.
In the event of such termination, a [***] portion of the Initial Exxxxxx Money will be disbursed to Seller as independent consideration for the execution of this Contract (the “Independent Consideration”), the balance of the Initial Exxxxxx Money will be returned to Purchaser, and Seller and Purchaser will have no further obligation to each other except as otherwise expressly stated herein.
Within one (1) day after the date Purchaser deposits the Initial Exxxxxx Money with Escrow Agent, Seller shall provide the holder of any Right of First Offer (“ROFO Holder”) with written notice of this Agreement consistent with the terms and conditions of any Right of First Offer (the “ROFO Notice”), and Seller shall provide a copy of same to Purchaser when made.
Additionally, in the event of an automatic termination because Purchaser does not send a Notice to Proceed, Seller will within 2 business days after such automatic termination send written instructions to the Title Company to release the Initial Exxxxxx Money (except for the Independent Consideration) to Purchaser.
In the event Seller fails to timely send such written instructions to the Title Company, Seller will indemnify Purchaser for any legal fees incurred by Purchaser to cause the Initial Exxxxxx Money (except for the Independent Consideration) to be released to Purchaser.
In addition to, and not in lieu of the delivery to Escrow Agent of the Initial Exxxxxx Money, Purchaser shall deliver to Seller, concurrently with Purchaser’s execution and delivery of this Agreement to Seller, Purchaser’s check, payable to the order to Seller, in the amount of One Hundred and No/100 Dollars ($100.00).