Additional Deposit. For reasons of administration, the right is reserved to require payment of an Additional Deposit, as shown on the Fees List for the relevant year, as an additional deposit in the case of a pupil whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Pupil leaves and will be repaid by means of a credit without interest to the final payment of Fees or other sums due to the School on leaving, unless stated otherwise in these terms and conditions. See also Clause 8.7
Additional Deposit. By delivery, within two (2) business days next following the Inspection Period Expiration Date (as hereinafter defined), of Buyer's good check in the amount of $25,000.
Additional Deposit. (a) Simultaneously with the execution and delivery hereof, Prime has (i) deposited with Landlord the sum (the "ADDITIONAL DEPOSIT") of Two Million Five Hundred Thousand Dollars ($2,500,000) as security the payment and performance of each and every obligation of the Tenant to Landlord under the Amended Lease and the Incidental Documents, whether now existing or hereafter arising, and including, without limitation, the payment of the full amount of the Rent payable under the Amended Lease and (ii) contributed to Assignee the right to receive any interest due on the Additional Deposit during the Term pursuant to the terms hereof. Landlord shall have no obligation to hold the Additional Deposit in a segregated account and may commingle the same with its general funds. Provided that no Event of Default shall have occurred and be continuing, Landlord shall credit the Tenant with interest on any unapplied balance of the Additional Deposit at a rate of 9% per annum. Such interest shall be credited against the rent and other charges due under the Amended Lease in arrears and pro rated with respect to any partial month. Upon the earlier of the expiration of the Amended Lease and the payment and performance of each and every obligation of the Tenant to Landlord and HPT under the Lease and Incidental Documents and the termination of Prime's obligation to keep the Additional Deposit with Landlord pursuant to Section 11(b) below, provided no Event of Default shall have occurred and be continuing, Landlord shall refund any unapplied balance of the Additional Deposit, together with any accrued and unpaid (or uncredited) interest with respect thereto, to Prime. In the event Landlord shall fail to refund any unapplied balance of the Additional Deposit and accrued interest to Prime on the date due, Landlord shall thereafter pay Prime interest thereon at the Overdue Rate until paid.
(b) Provided that no (i) monetary Default, (ii) Default as to which Notice thereof has been given to Tenant or (iii) Event of Default shall have occurred and be continuing under the Amended Lease, (iv) Cash Flow for a period of twelve (12) full consecutive Accounting Periods equals or exceeds Thirty-Four Million Fifteen Thousand Dollars ($34,015,000) with respect to such period and (v) Landlord shall receive a schedule evidencing the foregoing, in form and substance reasonably satisfactory to Landlord prepared by a, so-called, "Big-Five" accounting firm or such other certified public accountants a...
Additional Deposit. For reasons of administration, the School reserves the right to require payment by the Parents of the Additional Deposit in the case of a Student whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Student leaves and will be repaid without interest after the Student's last Term, after the deduction of any amounts owed to the School unless stated otherwise in this Agreement. Please also see clause 9.13 which explains what you need to do if you wish to withdraw your acceptance of a place before the Student joins the School.
Additional Deposit. Notwithstanding anything to the contrary contained in the Agreement, Buyer shall not be required to deposit with Escrow Holder the Additional Deposit under Section 2.2.1 of the Agreement until one (1) Business Day after the Contingency Date, as amended herein.
Additional Deposit. The amount of the Additional Deposit set forth in Section 2.2.2 of the Contract shall hereby be deleted and replaced with $341,244.23.
Additional Deposit. Unless the Contract is terminated in accordance with Section 3 of this Amendment, Purchaser shall deliver the Additional Deposit to the Escrow Agent on or before one Business Day after the expiration of the Extended Diligence Period.
Additional Deposit. The Sellers may request additional deposits at specified times during the transaction as a show of commitment by the Buyer. If any additional deposit is to be paid, the amount of the deposit and the time for delivery are indicated on this line. Be sure to advise the Buyer that making this payment on time is an obligation of the Agreement, and that there may be consequences for late payment. See Paragraph 5 (Dates/Time is of the Essence) and Paragraph 26 (Default, Termination and Return of Deposits) for more information.
Additional Deposit. If Purchaser does not terminate this Agreement as and in the manner provided in Section 2(c) hereof, then no later than the two business days after the date of expiration of the Feasibility Period, Purchaser shall deliver to Commercial Property Title, LLC, attention Xxxxxxx XxXxxx, as agent of First American Title Insurance Company (the “Escrow Agent”), immediately available funds in the amount of SEVEN MILLION DOLLARS ($7,000,000.00) (the “Additional Deposit”) as an additional xxxxxxx money deposit hereunder, which Additional Deposit, together with all interest and/or other income earned thereon and the proceeds thereof, shall be held and invested, and applied or released by the Escrow Agent in accordance with Section 3(a) hereof; provided, however, if for any reason Purchaser shall fail to deliver the Additional Deposit as and in the manner provided in the preceding sentence, then and in such event and notwithstanding any provision of this Agreement express or implied to the contrary, this Agreement thereupon automatically shall terminate, the Initial Deposit shall be fully earned by Seller and neither party shall have any further rights against or obligations to the other hereunder except as expressly provided in this Agreement. The Additional Deposit shall be non-refundable to Purchaser except in the event of a default by Seller under this Agreement or failure of a condition under Section 11(a) hereof, and shall be applied to the Purchase Price at Closing. As used herein, the term “Deposit” shall mean, collectively, the Initial Deposit, and, if and when paid, the Additional Deposit (and all interest and/or other income earned thereon and all proceeds thereof).
Additional Deposit. Purchaser shall deliver the Additional Deposit to the Escrow Agent on or before one Business Day after the Amendment Date.
