Deposit Amount. Purchaser represents and warrants that it has delivered to the Deposit Escrow Agent, pursuant to the terms of the Deposit Escrow Agreement, $10,000,000 in immediately available funds (such amount, together with the interest accrued thereon prior to the Closing, the “Deposit Amount”) to be held by the Deposit Escrow Agent in an interest bearing account reasonably acceptable to Purchaser and Sellers to serve as an ▇▇▇▇▇▇▇ money deposit under this Agreement, and to be released in accordance with the following procedures:
Appears in 2 contracts
Sources: Asset Purchase Agreement, Asset Purchase Agreement (New Century Financial Corp)