Common use of Purchase Price; Deposit Clause in Contracts

Purchase Price; Deposit. The purchase price (the “Purchase Price”) for the Property, subject to adjustments as provided in this Agreement, shall be FIFTY MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS and 00/100 Dollars ($50,250,000.00), and shall be paid as follows: (a) SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.00) (the “Initial Deposit”) to be paid within two (2) business days after the Effective Date in immediately available funds and delivered to Land Services USA, Inc., ▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (“Escrow Holder” or “Title Company”). Notwithstanding the foregoing, Buyer shall have the right to select a different Title Company during the Inspection Period. (b) If Buyer has not terminated this Agreement as provided herein, an additional deposit in the amount of SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.00) (together with the Initial Deposit, the “Deposit”) shall be within one (1) business day after the expiration of the Inspection Period in immediately available funds and delivered to Escrow Holder. (c) The Deposit shall be held by Escrow Holder in one or more interest bearing federally‑insured money market accounts acceptable to both Seller and Buyer, or in short‑term United States Government obligations having a maturity date which is not later than the Closing Date (as hereinafter defined). As used in this Agreement, “Deposit” shall mean and include the Deposit as defined in Subsection 2(b) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow Holder. Failure by Buyer to deliver the Deposit as provided above shall render this Agreement voidable at the option of the Seller.

Purchase Price; Deposit. The purchase price (the “Purchase Price”) for the Property, subject to adjustments as provided in this Agreement, shall be FIFTY MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS Twenty Five Million Two Hundred Thousand and 00/100 Dollars ($50,250,000.0025,200,000.00), and shall be paid as follows: (a) SEVEN HUNDRED FIFTY THOUSAND Three Hundred Thousand and 00/100 Dollars ($750,000.00300,000.00) (the “Initial Deposit”) to be paid within two (2) business days after the Effective Date execution of this Agreement by Buyer and Seller in immediately available funds and delivered to Land Services USAChicago Title Insurance Company, Inc., ▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ #▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (“Escrow Holder” or “Title Company”). Notwithstanding the foregoing, Buyer shall have the right to select a different Title Company during the Inspection Period. (b) If Buyer has not terminated this Agreement as provided herein, an additional deposit in the amount of SEVEN HUNDRED FIFTY THOUSAND Seven Hundred Thousand and 00/100 Dollars ($750,000.00700,000.00) (the “Additional Deposit” and together with the Initial Deposit, the “Deposit”) shall be paid within one (1) business day after the expiration of the Inspection Period in immediately available funds and delivered to Escrow Holder. (c) The Deposit shall be held by Escrow Holder in one or more interest bearing federally‑insured money market accounts acceptable to both Seller and Buyer, or in short‑term United States Government obligations having a maturity date which is not later than the Closing Date (as hereinafter defined). As used in this Agreement, “Deposit” shall mean and include the Deposit as defined in Subsection 2(b) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow Holder. Failure by Buyer to deliver the Deposit as provided above shall render this Agreement voidable at the option of the SellerSeller prior to the time Buyer delivers the Deposit.

Purchase Price; Deposit. The purchase price to be paid by Purchaser to Seller for the Property is Twenty Seven Million and 00/100 Dollars ($27,000,000.00) (the “Purchase Price”) for the Property, subject to adjustments as provided in this Agreement, shall be FIFTY MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS ). Two Million and 00/100 Dollars ($50,250,000.00), and shall be paid as follows: (a) SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.002,000,000.00) (the “Initial Deposit”) to shall then be paid within two (2) business days after the Effective Date in immediately available funds and delivered by Purchaser to Land Services USAPartners Title Company, Inc., ▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ -▇▇▇▇▇, ▇ (Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Phone: ) (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (referred to herein as the “Escrow HolderAgent” or the “Title Company”) as escrow holder within three (3) business days following the execution and delivery of this Agreement by both Seller and Purchaser (the “Effective Date”). Notwithstanding the foregoing, Buyer shall have the right to select a different Title Company during the Inspection Period. (b) If Buyer has not terminated Unless this Agreement as provided hereinis terminated in accordance with the provisions of Section 3 or Section 19 hereof, an additional deposit in the amount of SEVEN HUNDRED FIFTY THOUSAND Two Million and 00/100 Dollars ($750,000.002,000,000.00) (the “Additional Deposit” and together with the Initial Deposit, the “Deposit”) shall be paid to Escrow Agent as an additional deposit within one (1) business day after following the expiration of the Inspection Period set forth in Section 19 herein. The balance of the Purchase Price shall be paid to Seller at closing of title (the “Closing”) and shall be paid by immediately available funds and delivered to Escrow Holder. (c) federal funds. The Deposit shall be held by Escrow Holder Agent in one or more an interest bearing federally‑insured money market accounts acceptable account in accordance with the terms of an Escrow Agreement substantially in the form annexed hereto as Exhibit C. If the purchase and sale hereunder is consummated in accordance with the terms and conditions hereof, the Deposit shall be applied to both Seller and Buyerthe Purchase Price at the Closing. In all other events, or in short‑term United States Government obligations having a maturity date which is not later than the Closing Date (Deposit shall be disposed of by the Escrow Agent as hereinafter defined). As used provided elsewhere in this Agreement, “Deposit” shall mean and include the Deposit as defined in Subsection 2(b) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow Holder. Failure by Buyer to deliver the Deposit as provided above shall render this Agreement voidable at the option of the Seller.

Purchase Price; Deposit. The purchase price (the “Purchase Price”) for the Property, subject to adjustments as provided in this Agreement, shall be FIFTY TWENTY MILLION TWO SIX HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS and 00/100 Dollars ($50,250,000.0020,650,000.00), and shall be paid as follows:: 1LW:1030700.3 (a) SEVEN HUNDRED FIFTY THOUSAND Two Hundred Thousand and 00/100 Dollars ($750,000.00200,000.00) (the “Initial Deposit”) to be paid within two three (23) business days after the Effective Date in immediately available funds and delivered as follows: (i) $100,000 (the “Escrowed Deposit”) to Land Services USABell, Inc.Carrington & Price, ▇ ▇▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Esquire, Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇▇▇▇@▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇▇ (“Escrow Holder” or “Title Company”). Notwithstanding , and (ii) the foregoing, Buyer shall have remaining $100,000 (the right “Hard Deposit”) to select a different Title Company during Seller pursuant to the Inspection Periodwire instructions set forth on Schedule 2(a) attached hereto. (b) If Buyer has not terminated this Agreement as provided herein, an additional deposit in the amount of SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.00) (together with the Initial Deposit, the “Deposit”) shall be within one (1) business day after the expiration of the Inspection Period in immediately available funds and delivered to Escrow Holder. (c) The Escrowed Deposit shall be held by Escrow Holder in one or more interest bearing federally‑insured money market accounts acceptable to both Seller and Buyer, or in short‑term United States Government obligations having a maturity date which is not later than the Closing Date (as hereinafter defined). As used in this Agreement, “Deposit” shall mean and include the Deposit as defined in Subsection 2(b2(a) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow Holder. Failure by Buyer to deliver the Deposit as provided above shall be a material default hereunder and shall render this Agreement terminable or, alternatively, voidable at the option of the Seller.

Purchase Price; Deposit. The purchase price (the “Purchase Price”) for the Property, subject to LW:1034353.1 adjustments as provided in this Agreement, shall be FIFTY TWELVE MILLION TWO SIX HUNDRED FIFTY TWENTY THOUSAND AND 00/100 DOLLARS and 00/100 Dollars ($50,250,000.0012,620,000.00), and shall be paid as follows: (a) SEVEN HUNDRED FIFTY THOUSAND Three Hundred Fifty Thousand and 00/100 Dollars ($750,000.00350,000.00) (the “Initial Deposit”) to be paid within two three (23) business days after the Effective Date in immediately available funds and delivered to Land Services USAHeritage Title Company of Austin, Inc., ▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇. ▇▇▇▇▇, Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇▇▇▇@▇▇▇▇▇@▇▇▇-▇▇▇▇▇.▇▇▇ (“Escrow Holder” or “Title Company”). Notwithstanding the foregoing, Buyer shall have the right to select a different Title Company during the Inspection Period. (b) If Buyer has not terminated this Agreement as provided herein, an additional deposit in the amount of SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.00) (together with the Initial Deposit, the “Deposit”) shall be within one (1) business day after the expiration of the Inspection Period in immediately available funds and delivered to Escrow Holder. (c) The Deposit shall be held by Escrow Holder in one or more interest bearing federally‑insured money market accounts acceptable to both Seller and Buyer, or in short‑term United States Government obligations having a maturity date which is not later than the Closing Date (as hereinafter defined). As used in this Agreement, “Deposit” shall mean and include the Deposit as defined in Subsection 2(b2(a) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow Holder. Failure by Buyer to deliver the Deposit as provided above shall be a material default hereunder and shall render this Agreement terminable or, alternatively, voidable at the option of the Seller. (c) The balance of the Purchase Price, as adjusted in accordance herewith, shall be paid at Closing by wire transfer of immediately available funds and delivered to Escrow Holder. (d) Concurrent with its deposit of the Deposit with the Escrow Holder, Buyer shall deposit with the Escrow Holder the additional amount of Fifty Dollars ($50.00) (the “Independent Contract Consideration”) which Seller and Buyer agree shall be paid to Seller if this Agreement is terminated for any reason. Moreover, Seller and Buyer agree and acknowledge that the Independent Contract Consideration has been bargained for and agreed as additional consideration for Seller’s execution and delivery of this Agreement and for Buyer’s rights of review, inspection and termination provided herein. At Closing, the Independent Contract Consideration shall not be applied to the Purchase Price.

Purchase Price; Deposit. The purchase price (the “Purchase Price”) for the Property, subject to adjustments as provided in this Agreement, shall be FIFTY SIXTEEN MILLION TWO HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS and 00/100 Dollars ($50,250,000.0016,000,000.00), and shall be paid as follows: (a) SEVEN HUNDRED FIFTY THOUSAND One Hundred Seventy-Five Thousand and 00/100 Dollars ($750,000.00175,000.00) (the “Initial Deposit”) to be paid within two (2) business days after the Effective Date in immediately available funds and delivered to Land Services USAChicago Title Insurance Company, Inc., ▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (“Escrow Holder” or “Title Company”). Notwithstanding the foregoing, Buyer shall have the right to select a different Title Company during the Inspection Period. (b) If Buyer has not terminated this Agreement as provided herein, an additional deposit in the amount of SEVEN HUNDRED FIFTY THOUSAND Three Hundred Twenty-Five Thousand and 00/100 Dollars ($750,000.00325,000.00) (together with the Initial Deposit, the “Deposit”) shall be within one (1) business day after paid on or before the expiration of the Inspection Period in immediately available funds and delivered to Escrow Holder. (c) The Deposit shall be held by Escrow Holder in one or more interest bearing federally‑insured money market accounts acceptable to both Seller and Buyer, or in short‑term United States Government obligations having a maturity date which is not later than the Closing Date (as hereinafter defined). As used in this Agreement, “Deposit” shall mean and include the Deposit as defined in Subsection 2(b) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow Holder. Failure by Buyer to deliver the Deposit as provided above shall be a material default hereunder and shall render this Agreement terminable or, alternatively, voidable at the option of the Seller.

Purchase Price; Deposit. (a) The purchase price to be paid by Purchaser to Seller for the Property (the “Purchase Price”) for the Propertyis FOUR HUNDRED TWENTY-FIVE MILLION AND NO/100 DOLLARS ($425,000,000.00), subject to adjustments adjustment and apportionment as provided in this AgreementSection 8 below, which shall be FIFTY MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS and 00/100 Dollars ($50,250,000.00), and shall be paid payable as follows: (ai) SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.00) (the “Initial Deposit”) to be paid within Within two (2) business days Business Days after the Effective Date in immediately available funds and delivered Date, Purchaser shall deliver to Land Services USAFirst American Title Insurance Company (Attention: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Inc.▇▇., ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇60602) (312-917-7233), Phone: as escrow agent (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (the “Escrow Holder” or “Title CompanyAgent”), the sum of TWO MILLION AND NO/100 DOLLARS ($2,000,000.00) (the “Initial Deposit”), by wire transfer of immediately available funds to the Escrow Account (defined below). Notwithstanding It shall be a condition precedent to the foregoing, Buyer effectiveness of this Agreement that Purchaser shall have delivered the right Initial Deposit to select a different Title Company during the Escrow Agent not later than two (2) Business Days after the Effective Date. (ii) In the event Purchaser does not terminate this Agreement on or prior to the expiration of the Inspection Period. , then, not later than two (b2) If Buyer has not terminated this Agreement as provided herein, an additional deposit in the amount of SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.00) (together with the Initial Deposit, the “Deposit”) shall be within one (1) business day Business Days after the expiration of the Inspection Period in Period, Purchaser shall deliver to Escrow Agent, the additional sum of EIGHT MILLION AND NO/100 DOLLARS ($8,000,000.00) (the “Additional Deposit”), by wire transfer of immediately available funds to the Escrow Account. The (1) Initial Deposit, (2) Additional Deposit, (3) Extension Fee (as defined in Section 19(a) below), if applicable, and delivered (4) all Income (as hereinafter defined) earned thereon are hereinafter referred to Escrow Holdercollectively as the “Deposit”. In the event Purchaser does not terminate this Agreement on or prior to the expiration of the Inspection Period, the Deposit shall be non-refundable except as otherwise expressly provided in this Agreement. Notwithstanding anything to the contrary in this Agreement, if this Agreement terminates or the Closing fails to occur, for any reason other than Purchaser’s failure to purchase the Property when it is obligated to do so under the terms of this Agreement, the Deposit shall be promptly returned to Purchaser. (ciii) At Closing, (A) the Deposit shall be applied to the Purchase Price and paid to Seller by Escrow Agent, and (B) Purchaser shall deliver the balance of the Purchase Price (i.e., the Purchase Price less the Deposit and less the Extension Fee, if applicable, as defined in Section 19(a) below) to Seller, as adjusted, if necessary, pursuant to Section 8 hereof. (b) The Deposit shall be held by Escrow Holder Agent for the account of Purchaser and disbursed in one or more interest bearing federally‑insured money market accounts acceptable accordance with the terms and conditions of this Agreement. (c) In addition to both Seller delivering the Initial Deposit to Escrow Agent, as independent consideration (the “Independent Consideration”) for and Buyer, or in short‑term United States Government obligations having a maturity date which is not later than the Closing Date (as hereinafter defined). As used in consideration of Seller’s entering into this Agreement, “Deposit” shall mean and include including providing to Purchaser the right to conduct its investigations of the Property, concurrently with the delivery of the Deposit as defined in Subsection 2(b) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow HolderAgent, Purchaser shall deliver directly to Seller the sum of ONE HUNDRED DOLLARS ($100.00). Failure The Independent Consideration is not applicable to the Purchase Price and shall be retained by Buyer Seller in all events, including in the event of Closing or any termination of this Agreement. Purchaser and Seller agree that the Independent Consideration together with the mutual covenants and agreements herein set forth are adequate to deliver the Deposit as provided above shall render prevent this Agreement voidable at from merely constituting an option to purchase the option of the SellerProperty as opposed to a purchase agreement.

Purchase Price; Deposit. (a) The total purchase price (the “Purchase Price”) for the PropertyProperty is EIGHTY-THREE MILLION FIVE HUNDRED THOUSAND and no/100ths Dollars ($83,500,000.00). The Purchase Price, subject to as increased or decreased by prorations and adjustments as provided in this Agreementherein provided, shall be FIFTY MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS and 00/100 Dollars payable in full at Closing ($50,250,000.00), and shall be paid as follows:herein defined) in cash by wire transfer of immediately available finds in U.S. dollars via the federal bank wire transfer system to a bank account designated by Seller in writing to Buyer prior to the Closing. (ab) SEVEN HUNDRED FIFTY THOUSAND and 00/100 Dollars ($750,000.00) (the “Initial Deposit”) to be paid within Within two (2) business days after from the Effective Date in immediately available funds execution and delivered to Land Services USAdelivery of this Agreement, Inc.Buyer is depositing with First American Title Insurance Company (the “Escrow Agent” or “Title Company”), ▇ ▇▇having its office at ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇, ▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Phone: an amount equal to Two Million and no/100ths Dollars (▇▇▇$2,000,000.00) ▇▇▇-▇▇▇▇in good funds, Facsimile: by federal wire transfer (▇▇▇) ▇▇▇-▇▇▇▇; Email: ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (the “Escrow Holder” or “Title CompanyInitial Deposit”). Notwithstanding Within one (1) business day following the foregoingexpiration of the Study Period (provided that Buyer does not exercise its right to terminate this Agreement and receive the return of the Deposit), Buyer shall have the right to select a different Title Company during the Inspection Period. (b) If Buyer has not terminated this Agreement as provided herein, post an additional deposit non-refundable deposit, by federal wire transfer in the amount of SEVEN HUNDRED FIFTY THOUSAND Two Million and 00/100 No/100 Dollars ($750,000.00) (2,000,000.00); and together with the Initial Deposit, the “Deposit”) ). The Escrow Agent shall hold the Deposit in accordance with the terms and conditions of this Agreement. All interest on such sum shall be within one (1) business day after the expiration deemed income of the Inspection Period in immediately available funds Buyer, and delivered to Escrow Holder. (c) The Deposit Buyer shall be responsible for the payment of all costs and fees imposed on the Deposit account. All interest earned on the Deposit while it is held by Escrow Holder Agent shall accrue for the benefit of the party to whom the Deposit is disbursed by Escrow Agent. The Deposit and all accrued interest shall be distributed in one or more interest bearing federally‑insured money market accounts acceptable to both Seller and Buyer, or in short‑term United States Government obligations having a maturity date which is not later than accordance with the Closing Date (as hereinafter defined). As used in terms of this Agreement, “Deposit” shall mean and include the Deposit as defined in Subsection 2(b) above and any interest earned thereon. If requested by Escrow Holder, Buyer shall execute and deliver a Form W-9 to Escrow Holder. Failure by Buyer to deliver the Deposit as provided above shall render this Agreement voidable at the option of the Seller.