Common use of Cash Deposit Clause in Contracts

Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply. 4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●]. 4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security. 4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period. 4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.

Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply. 4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●]6th August 2021. 4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security. 4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period. 4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.

Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply. 4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●]5th January 2024. 4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security. 4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period. 4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.

Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply. 4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●]30th April 2022. 4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security. 4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period. 4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.

Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply. 4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●]1st March 2023. 4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security. 4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period. 4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.

Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply. 4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●]7th January 2022. 4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security. 4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period. 4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.

Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply. 4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●]1st January 2021. 4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security. 4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period. 4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.