Amount of and Reasons for Deposit Sample Clauses

Amount of and Reasons for Deposit. The Developer, shall, at the time of first applying for a building permit for a parcel of land forming a part of the Lands, deposit with the Township a Building Deposit, equal to the sum of $50,000.00 for all building permits to be issued to the Developer (up to a maximum of 50 permits/phase at any one time) where the Developer is a residential builder in this subdivision. The Building Deposit shall be in addition to any other securities posted by the Developer. To the extent that the Developer is a builder in this subdivision and the applicant for permits, this section 14.1 shall supersede the requirement to pay the building department charge as per Township of Southgate by-law 86-2014 & 43-2016. Where anyone other than the Developer applies for a building permit, or for each building permit issued to the Developer in excess of the maximum 50 permits/phase for which the initial $50,000.00 referred to above has been posted, or for each building permit that has yet to be closed with a final building inspection certification/release at or after the time that the Township issues Final Acceptances for a phase, the sum of $4,000.00 per permit (subject to section 14.3 herein) shall be posted or otherwise continue to be held, as the case may be, with the Township. Within thirty (30) calendar days following closing the final permit for that phase of the subdivision, the Building Deposit will be released to the Developer. The Building Deposit (in addition to any other securities posted by the Developer) is intended to ensure that: (i) any damages caused to municipal services or facilities adjacent to the construction site during construction of the residence are suitably repaired in accordance with municipal servicing standards and have been inspected and approved in writing by the Township Engineer and that all construction debris is properly disposed of in accordance with Article 12.3; (ii) that the parcel for which the permit is requested is graded in conformity with the Approved Grading Plan referred to in Article 7.1 and the Individual Lot Plan referred to in Article 7.3; (iii) that all Ontario Building Code matters or requirements relating to the occupancy and the completion of the residence have been completed and approved by the Township’s Chief Building Official; and, if applicable. (iv) that the required tree(s) in the boulevard at the front of the lot and in the event of a corner lot at the side of the lot has/have been planted and driveway cuts and driv...
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Related to Amount of and Reasons for Deposit

  • Amount of Rs ( ) (not exceeding 95% of the total consideration) to be paid to the Promoter on completion of the lifts, water pumps, electrical fittings, electro, mechanical and environment requirements, entrance lobby/s, plinth protection, paving of areas appertain and all other requirements as may be prescribed in the Agreement of sale of the building or wing in which the said Apartment is located.

  • Amount of Fee The Website Hosting and Notice Fee shall be based on the number of Funds invested in by Contract Owners.

  • Amount and Terms of the Commitment Section 2.01 The Advances.............................................7 Section 2.02 Making the Advances......................................7 Section 2.03 Fees.....................................................9 Section 2.04 Reduction or Termination of the Maximum Commitment....

  • Amount of Purchase Price The purchase price (“Purchase Price”) per Share for each Share which Optionee is entitled to purchase under the Options shall be $2.25 per Share.

  • Amount of Compensation City shall pay Contractor for performance of all Services rendered in accordance with this Contract in an amount not to exceed $3,000,000.

  • Amount of Benefits The vested amount credited to a Participant’s Account as determined under Articles 6, 7 and 8 shall determine and constitute the basis for the value of benefits payable to the Participant under the Plan.

  • Instructions for Certification – First Tier Participants a. By signing and submitting this proposal, the prospective first tier participant is providing the certification set out below. b. The inability of a person to provide the certification set out below will not necessarily result in denial of participation in this covered transaction. The prospective first tier participant shall submit an explanation of why it cannot provide the certification set out below. The certification or explanation will be considered in connection with the department or agency's determination whether to enter into this transaction. However, failure of the prospective first tier participant to furnish a certification or an explanation shall disqualify such a person from participation in this transaction. c. The certification in this clause is a material representation of fact upon which reliance was placed when the contracting agency determined to enter into this transaction. If it is later determined that the prospective participant knowingly rendered an erroneous certification, in addition to other remedies available to the Federal Government, the contracting agency may terminate this transaction for cause of default. d. The prospective first tier participant shall provide immediate written notice to the contracting agency to whom this proposal is submitted if any time the prospective first tier participant learns that its certification was erroneous when submitted or has become erroneous by reason of changed circumstances. e. The terms "covered transaction," "debarred," "suspended," "ineligible," "participant," "person," "principal," and "voluntarily excluded," as used in this clause, are defined in 2 CFR Parts 180 and 1200. “First Tier Covered Transactions” refers to any covered transaction between a grantee or subgrantee of Federal funds and a participant (such as the prime or general contract). “Lower Tier Covered Transactions” refers to any covered transaction under a First Tier Covered Transaction (such as subcontracts). “First Tier Participant” refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Amount and Terms of the Commitments Section 2.1. General Description of Facilities

  • Calculation of Number and Percentage of Beneficial Ownership of Outstanding Voting Shares For purposes of this Agreement, the percentage of Voting Shares Beneficially Owned by any Person, shall be and be deemed to be the product (expressed as a percentage) determined by the formula: 100 x A/B where: A = the number of votes for the election of all directors generally attaching to the Voting Shares Beneficially Owned by such Person; and B = the number of votes for the election of all directors generally attaching to all outstanding Voting Shares. Where any Person is deemed to Beneficially Own unissued Voting Shares, such Voting Shares shall be deemed to be outstanding for the purpose of calculating the percentage of Voting Shares Beneficially Owned by such Person.

  • Determination of Amount Outstanding On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

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