Performance Deposit. Upon execution of this Agreement, Purchaser shall pay to Seller by wire transfer a deposit in the amount of eleven million Dollars ($11,000,000.00) (“Performance Deposit”) to be held by Seller in accordance with this Agreement. In the event that the transactions contemplated by this Agreement are consummated, the Performance Deposit shall be applied to the Purchase Price as set forth in Section 2.5(b) below. In the event this Agreement is terminated, the Performance Deposit plus any interest earned thereon shall be applied in accordance with the provisions of Article X. The Performance Deposit shall not be considered ▇▇▇▇▇▇▇ money.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Forest Oil Corp)
Performance Deposit. Upon execution of this Agreement, Purchaser shall pay to Seller by wire transfer a deposit in the amount of eleven sixteen million two hundred fifty thousand Dollars ($11,000,000.0016,250,000.00) (“Performance Deposit”) to be held by Seller in accordance with this Agreement. In the event that the transactions contemplated by this Agreement are consummated, the Performance Deposit shall be applied to the Preliminary Purchase Price as set forth in Section 2.5(b) below. In the event this Agreement is terminated, the Performance Deposit plus any interest earned thereon shall be applied in accordance with the provisions of Article X. The Performance Deposit shall not be considered ▇▇▇▇▇▇▇ money.X.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Forest Oil Corp)
Performance Deposit. Upon Within one Business Day of execution of this Agreement, Purchaser shall pay to Seller by wire transfer a deposit in the amount of eleven million Forty Million Dollars ($11,000,000.0040,000,000.00) (“Performance Deposit”) to be held by Seller in accordance with this Agreement. In the event that the transactions contemplated by this Agreement are consummated, the Performance Deposit shall be applied to the Purchase Price as set forth in Section 2.5(b) below. In the event this Agreement is terminated, the Performance Deposit plus any interest earned thereon shall be applied in accordance with the provisions of Article X. The Performance Deposit shall not be considered ▇▇▇▇▇▇▇ money.X.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Forest Oil Corp), Purchase and Sale Agreement (Sandridge Energy Inc)
Performance Deposit. Upon execution of this Agreement, Purchaser shall pay to Seller by wire transfer a deposit in the amount of eleven million Nine Million, Five-Hundred Thousand Dollars ($11,000,000.009,500,000.00) (“Performance Deposit”) to be held by Seller in accordance with this Agreement. In the event that the transactions contemplated by this Agreement are consummated, the Performance Deposit shall be applied to the Purchase Price as set forth in Section 2.5(b) below. In the event this Agreement is terminated, the Performance Deposit plus any interest earned thereon shall be applied in accordance with the provisions of Article X. The Performance Deposit shall not be considered ▇▇▇▇▇▇▇ money.X.
Appears in 1 contract
Performance Deposit. Upon execution of this Agreement, Purchaser shall pay to Seller by wire transfer a deposit in the amount of eleven million Dollars five percent ($11,000,000.005%) of the Preliminary Purchase Price (“Performance Deposit”) ), to be held by Seller in accordance with this Agreement. In the event that the transactions contemplated by this Agreement are consummated, the Performance Deposit shall be applied to the Preliminary Purchase Price as set forth in Section 2.5(b) below. In the event this Agreement is terminated, the Performance Deposit plus any interest earned thereon shall be applied in accordance with the provisions of Article X. The Performance Deposit shall not be considered ▇▇▇▇▇▇▇ money.X.
Appears in 1 contract
Performance Deposit. Upon execution of this Agreement, Purchaser shall pay to Seller by wire transfer a deposit in the amount of eleven million Nine Million, Five-Hundred Thousand Dollars ($11,000,000.009,500,000.00) (“"Performance Deposit”") to be held by Seller in accordance with this Agreement. In the event that the transactions contemplated by this Agreement are consummated, the Performance Deposit shall be applied to the Purchase Price as set forth in Section 2.5(b) below. In the event this Agreement is terminated, the Performance Deposit plus any interest earned thereon shall be applied in accordance with the provisions of Article X. The Performance Deposit shall not be considered ▇▇▇▇▇▇▇ money.X.
Appears in 1 contract