Common use of Application of Deposit Clause in Contracts

Application of Deposit. A student shall pay the housing deposit at the time of their application for housing. The University will retain it until the end of the application/contract period. If the student has properly performed their duties under the contract, including proper checkout, and if the student does not have any delinquent debts to the University at the end of the contract period, a portion will be refunded to the student shortly thereafter. The remainder of the deposit will be retained as a processing fee in all cases. If a student is responsible for any unpaid damages or is delinquent on any debts to the University, the appropriate portion of the deposit will be applied toward the payment of such damages or debts, and the balance of the net deposit will be refunded. In the event a student is responsible for damages or delinquent debts in excess of the deposit, the entire amount will be applied toward the payment of such damages or debts, and the student shall be liable for the remaining balance of the damages or debts.

Application of Deposit. A student shall pay the housing deposit at the time of their his or her application for housing. The University will retain it until the end of the application/contract period. If the student has properly performed their his or her duties under the contract, including proper checkout, and if the student does not have any delinquent debts to the University at the end of the contract period, a portion will be refunded to the student shortly thereafter. The remainder of the deposit will be retained as a processing fee in all cases. If a student is responsible for any unpaid damages or is delinquent on any debts to the University, the appropriate portion of the deposit will be applied toward the payment of such damages or debts, and the balance of the net deposit will be refunded. In the event a student is responsible for damages or delinquent debts in excess of the deposit, the entire amount will be applied toward the payment of such damages or debts, and the student shall be liable for the remaining balance of the damages or debts.

Application of Deposit. A student shall pay the housing deposit at the time of their his or her application for housing. The University will retain it until Name the end of the application/contract period. If the student has properly performed their his or her duties under the contract, including proper checkout, and if the student does not have any delinquent debts to the University at the end of the contract period, a portion will be refunded to the student shortly thereafter. The remainder of the deposit will be retained as a processing fee in all cases. If a student is responsible for any unpaid damages or is delinquent on any debts to the University, the appropriate portion of the deposit will be applied toward the payment of such damages or debts, and the balance of the net deposit will be refunded. In the event a student is responsible for damages or delinquent debts in excess of the deposit, the entire amount will be applied toward the payment of such damages or debts, and the student shall be liable for the remaining balance of the damages or debts.