Third Deposit definition
Examples of Third Deposit in a sentence
This Third Deposit shall be released by the Escrow Agent to the Seller immediately upon receipt by the Escrow Agent and at the instruction of the Seller.
The amount of interest calculated under this Section E.5 shall begin to accrue (i) as to the Initial Deposit, on the date this Purchase Agreement is executed by Seller and upon expiration of any rescission period or deemed waiver thereof, and upon ▇▇▇▇▇▇’s deposit of the same into an interest bearing account; and (ii) as to the Second Deposit and the Third Deposit, on the date Escrow deposits the same into an interest bearing account.
Buyer shall have the right to extend the Closing Date for a period of up to thirty (30) days ("Extended Closing Date"), by serving written notice thereof upon Seller on or before ten (10) days prior to the Closing Date and simultaneously therewith delivering to the Escrow Agent, as hereinafter defined, the Third Deposit required by Paragraph 2(a)(ii).
The Initial Deposit, the Second Deposit and the Third Deposit shall be collectively referred to as the Deposit.
Purchaser’s failure to pay the Initial ▇▇▇▇▇▇▇ Money or the Second Deposit or the Third Deposit on the applicable date shall constitute a material default by Purchaser under Section 14 below.