Common use of Cash Deposit Clause in Contracts

Cash Deposit. If the security is in the form of a cash deposit, interest at the rate currently paid by Central Xxxxxx on customer deposits shall be credited to the Licensee during the continuance of the deposit. If Licensee shall fail to pay any non-disputed sum demanded by Central Xxxxxx as due under the provisions of this Agreement, in addition to such other remedies available at law or pursuant to this Agreement Central Xxxxxx shall have the right, without prior notice to the Licensee, forthwith to setoff and apply any or all amounts on deposit with it to payment of the non-disputed sum due, whether or not Central Xxxxxx exercises or has exercised any option it may have to terminate this Agreement. If any such amounts are applied to payment of sums due to Central Xxxxxx, Licensee shall restore to its deposit the amounts so applied within thirty (30) days after notice to Licensee of such application.

Cash Deposit. If the security is in the form of a cash deposit, interest at the rate currently paid by Central Xxxxxx on customer deposits shall be credited to the Licensee during the continuance of the deposit. If Licensee shall fail to pay any non-disputed sum demanded by Central Xxxxxx as due under the provisions of this Wireless Agreement, in addition to such other remedies available at law or pursuant to this Wireless Agreement Central Xxxxxx shall have the right, without prior notice to the Licensee, forthwith to setoff and apply any or all amounts on deposit with it to payment of the non-disputed sum due, whether or not Central Xxxxxx exercises or has exercised any option it may have to terminate this Wireless Agreement. If any such amounts are applied to payment of sums due to Central Xxxxxx, Licensee shall restore to its deposit the amounts so applied within thirty (30) days after notice to Licensee of such application.