Option Deposit definition

Option Deposit has the meaning ascribed thereto in Section 13.5.2.

Option Deposit means the amount of cash deposit required in the Offer Notice or, if no cash deposit is specified in the Offer Notice, a sum equal to five percent (5%) of the purchase price for the Premises set forth in the Offer Notice.

Option Deposit is defined in Section 29.3.

Examples of Option Deposit in a sentence

• Buyer understands and acknowledges that the Option Deposit shall not be refunded under any circumstances.

• If, for any reason, Buyer cancels this Agreement, Seller shall retain the Option Deposit.

• If damage to the Residence is greater than twenty percent (20%) of the improvements, as determined by Seller, Seller may, at its election, either (i) terminate this contract, in which case all deposits hereunder shall be returned to Buyer, including the Buyer Xxxxxxx Money Deposit and Option Deposit, less a $1,000.00 processing fee, or (ii) repair such damage and proceed to Closing.

• The Buyer Xxxxxxx Money Deposit and Option Deposit shall be returned to Buyer on termination under this paragraph.

• If Seller Is In Default: In the event of material default by Seller, Xxxxx’s sole remedy shall be to terminate this Contract by giving written notice thereof to Seller, and, upon such termination, all sums paid hereunder by Xxxxx, including the Buyer Xxxxxxx Money Deposit and Option Deposit, shall be returned to Buyer without interest, and both parties shall be released from any further obligations hereunder.

• In the event that a dispute or disagreement arises between Seller and Buyer regarding the obligations or performance of the parties hereunder, Seller shall be entitled, but not obligated, to terminate this Contract by providing seven (7) days written notice to Buyer, in which event the Buyer Xxxxxxx Money Deposit and Option Deposit shall be returned to Buyer without interest, less a $1,000.00 processing fee, and both parties shall be discharged from all duties and performance hereunder.

• If a Certificate of Occupancy (which may be conditional or temporary) has not been issued for the Residence within thirty (30) days of such Notice To Terminate, Buyer may terminate the Contract, and the Buyer Xxxxxxx Money Deposit and any Option Deposit shall be returned to Buyer.

• In the event that Buyer does not exercise its option to purchase a particular Option Aircraft pursuant to the terms and conditions set forth herein, Boeing shall be entitled to retain the Option Deposit for such Option Aircraft.

• In consideration of Boeing's grant to Buyer of options to purchase the Option Aircraft as set forth herein, Buyer has paid a deposit to Boeing of [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT] for each Option Aircraft (the Option Deposit) prior to the date of this Letter Agreement.

• In the event that a dispute or disagreement arises between Seller and Buyer regarding the obligations or performance of the parties hereunder, Seller shall be entitled, but not obligated, to terminate this Contract by providing seven (7) calendar days written notice to Buyer, in which event the Buyer Xxxxxxx Money Deposit and Option Deposit shall be returned to Buyer without interest, less a $1,000.00 processing fee, and both parties shall be discharged from all duties and performance hereunder.

More Definitions of Option Deposit

Option Deposit. Has the meaning defined in Section 8.1(b); “PES Account(s)” Select purchasers of Products or Branded Technical Services to which ExxonMobil provides PES; Distributor: PetroChoice, LLC

Option Deposit means a deposit by Buyer with Bombardier of U.S. Dollars with respect to an Aircraft as to which Bombardier has granted to Buyer an option to purchase; “[*]” [*]

Option Deposit means any payment of a cash deposit or delivery of a letter of credit in conjunction with a contract committing a seller to deliver title to all or a portion of a land parcel or finished lots, on specified terms.

Option Deposit means the $100,000 paid by Acquiror to Target on October 21, 1998 to purchase the Cash Option.

Option Deposit means the $200,000 option fees paid by Capital Growth to Global Capacity in connection with the execution of the Option Agreement, including the initial $100,000 paid upon execution of the July 14, 2006 letter agreement and the additional $100,000 paid upon execution of the amendment thereto. The Option Deposit is fully earned and non-refundable, but shall be applied toward the Cash Consideration due at Closing.

Option Deposit shall be the amount set forth on Exhibit A-1. The Option Deposit shall be paid by Buyer to Seller on the Closing Date and shall, notwithstanding anything to the contrary, be nonrefundable for any reason, including it being nonrefundable to Buyer even if (x) Buyer elects not to exercise the Option, (y) the Option is revoked (as set forth in Section 5(d)(viii), and/or (z) Seller exercises the Repurchase Right (as set forth in Section 5(d)(ix)). Seller shall prepare an option agreement, which it shall submit to Buyer twenty-five (25) days before the expiration of the Due Diligence Period (the “Option Agreement”). The Option Agreement shall contain the following terms and conditions, which must be approved by Buyer in writing before expiration of Due Diligence and it shall be recorded at Closing: