Examples of Xxxxxxx Money Deposit in a sentence
The Xxxxxxx Money Deposit shall be non-refundable after 5:00 p.m. Eastern Time on the Execution Date, except as otherwise expressly provided in this Agreement or the Xxxxxxx Money Escrow Agreement and shall, in the event of a Closing, be released to Sellers on the Closing Date.
In the event, the CPG is not furnished within 7 (seven) Business Days of signing the PPA; the Xxxxxxx Money Deposit shall be forfeited.
No later than (3) business days after Seller delivers such notice to Buyer, Buyer shall elect to (i) terminate the Agreement and receive a refund of the Xxxxxxx Money Deposit as Buyer’s sole and absolute remedy or (ii) proceed with the transaction and assume full responsibility for payment of any Association demand to the extent such demand exceeds Seller’s liability to the Association under applicable law.
Xxxxx agrees that the Property is not unique and in the event of Seller’s default, Buyer can be adequately and fairly compensated solely by receiving a return of Xxxxxxx Money Deposit and cancellation of Buyer’s obligation to purchase the Property.
Upon return of the Xxxxxxx Money Deposit to Buyer, the Agreement shall be terminated, and Buyer and Seller irrevocably instruct the Closing Agent to return all funds and documents to the party that deposited them without further direction.