Additional Deposit Date definition
Examples of Additional Deposit Date in a sentence
Each Certificate of a Series shall be dated the Deposit Date thereof or the Additional Deposit Date with respect thereto, as applicable.
A Beneficial Owner shall exercise the foregoing option by contacting the Trustor on or prior to the third Business Day preceding the Additional Deposit Date.
Each such Beneficial Owner of Floater Certificates shall have the option to purchase a proportionate Stated Amount of the additional Floater Certificates to be executed and delivered pursuant to Section 10.8(c) such that the percentage of the aggregate Outstanding Stated Amount of Floater Certificates owned by such Beneficial Owner will remain the same following the Additional Deposit Date.
Upon the Additional Deposit Date, the entire ▇▇▇▇▇▇▇ Money Deposit and Additional Deposit shall become absolutely non-refundable to Buyer and shall be deemed fully earned by Seller (the “Non-refundable Deposit”).
Seller agrees that it shall promptly commence the process of performing the Arsenic Remediation (as defined in the Third Amendment) after the Third Additional Deposit Date from the Additional Land and shall diligently pursue completion of the removal of the soil containing arsenic in compliance with all applicable Environmental Laws and the Agreement no later than sixty (60) days after the Phase III Closing Date.
Unless Buyer has terminated this Agreement pursuant to Section 2.3, by 3:00 P.M. (Eastern Standard Time) on the first Business Day after the expiration of the Due Diligence Period (the "Additional Deposit Date"), Buyer shall deposit by wire transfer (made in accordance with the wiring instructions set forth on Schedule 2.2.2 attached hereto) of immediately available funds, in escrow with the Title Company a cash payment in the amount of Four Million Eight Hundred Fifty-Five Thousand Dollars ($4,855,000).
Purchaser and Seller hereby agree that prior to the Third Additional Deposit Date, Seller shall have the right to continue to solicit and accept back-up purchase offers from other third party contract purchasers.
If prior to the Third Additional Deposit Date Seller enters into a letter of intent to purchase the Phase III Property or otherwise accepts a back-up offer to purchase from a third-party purchaser unaffiliated with Seller for a price which is greater than the Phase III Purchase Price, then Seller shall provide Purchaser with written notice of the accepted offer including a copy of the accepted offer (the “Notice of Third Party Offer”), subject to Purchaser’s rights as set forth below in this Section 13.
No later than three (3) Business Days after the Additional Deposit Date, Purchaser shall deliver to Escrow Holder an additional ▇▇▇▇▇▇▇ money deposit in the amount of EIGHT MILLION and 00/100 DOLLARS ($8,000,000.00) (the “Additional Deposit”, and together with the Initial Deposit, the “Deposit”) as provided by the Property Escrow Agreement.
Section 7(a) of the Original Agreement (as amended) is amended to provide that the Phase III Closing Date shall be a date mutually agreeable to Purchaser and Seller that is on or before the date that is sixty (60) days after the Third Additional Deposit Date.