Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 DOLLARS ($__ ) (the “Purchase Price”), payable as follows: (i) Ten percent (10%) of the Purchase Price (which is equal to $ ) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two (2) business days after the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be refundable to Purchaser only to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlement. At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser. (ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 11 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 00/100 DOLLARS ($__ $ ) (the “Purchase Price”), payable as follows:
(i) Ten percent TEN PERCENT (10%) of the Purchase Price (which is equal to $ ) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two five (25) business days after of the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as ) (the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be refundable to Purchaser only to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-federally- insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlementthe Settlement (as defined below). At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser.
(ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 8 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 DOLLARS ($__ $ ) (the “Purchase Price”), payable as follows:: AND 00/100
(i) Ten percent TEN PERCENT (10%) of the Purchase Price (which is equal to $ ) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two five (25) business days after of the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as ) (the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be refundable to Purchaser only to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-federally- insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlementthe Settlement (as defined below). At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser.
(ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 5 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 00/100 DOLLARS ($__ $ ) (the “Purchase Price”), payable as follows:
(i) Ten percent (10%) of the Purchase Price (which is equal to $ ) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two (2) business days after the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be refundable to Purchaser only to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlement. At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser.
(ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 4 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 00/100 DOLLARS ($__ $ ) (the “Purchase Price”), payable as follows:
(i) Ten percent TEN PERCENT (10%) of the Purchase Price (which is equal to $ ) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two five (25) business days after of the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as ) (the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be non-refundable to Purchaser only Purchaser, except to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlementthe Settlement (as defined below). At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser.
(ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 1 contract
Sources: Purchase and Sale Agreement
Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 DOLLARS ($$ __ ) (the “Purchase Price”), payable as follows:: AND 00/100
(i) Ten percent TEN PERCENT (10%) of the Purchase Price (which is equal to $ _) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two five (25) business days after of the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as ) (the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be refundable to Purchaser only to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-federally- insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlementthe Settlement (as defined below). At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser.
(ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 1 contract
Sources: Purchase and Sale Agreement
Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 DOLLARS ($__ ) (the “Purchase Price”), payable as follows:
(i) Ten percent (10%) of the Purchase Price (which is equal to $ ) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two (2) business days after the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled entit led to terminate this Agreement by written notice to Purchaser. The Deposit shall be refundable to Purchaser only to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-interest-bearing, federally-insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlement. At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser.
(ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 1 contract
Sources: Purchase and Sale Agreement
Purchase Price; Deposit. (a) The purchase price for the Property is ________________ AND 00 /100 00/100 DOLLARS ($__ $ ) (the “Purchase Price”), payable as follows:
(i) Ten percent TEN PERCENT (10%) of the Purchase Price (which is equal to $ ) (together with any accrued interest thereon, the “Initial Deposit” and together with the Additional Deposit (as hereinafter defined), collectively the “Deposit”) shall, within two five (25) business days after of the Effective Date, be deposited by Purchaser with the Title Company (as hereinafter defined, also referred to herein as ) (the “Escrow Agent”) by wire transfer of immediately available funds. Failure by Purchaser to timely deliver the Deposit in accordance with this Section 2(a)(i) shall constitute a material default by Purchaser hereunder and Seller shall be entitled to terminate this Agreement by written notice to Purchaser. The Deposit shall be non-refundable to Purchaser only Purchaser, except to the extent expressly set forth in this Agreement. The Deposit shall be held in a non-non- interest-bearing, federally-insured account by Escrow Agent in accordance with this Agreement pending the consummation of Settlementthe Settlement (as defined below). At Settlement, the Deposit shall be paid to Seller on account of the Purchase Price and credited to Purchaser.
(ii) Subject to the prorations and adjustments set forth in this Agreement, the balance of the Purchase Price shall be paid to Seller at Settlement by wire transfer of immediately available federal funds.
Appears in 1 contract
Sources: Purchase and Sale Agreement