Creation of Escrow Deposit Trust Account and Deposit of Moneys Sample Clauses

Creation of Escrow Deposit Trust Account and Deposit of Moneys. There is created and established with the Escrow Agent a special and irrevocable trust account designated “Citizens Property Insurance Corporation Coastal Account Senior Secured Bonds, Series 2015A-1 Escrow Deposit Trust Account” (the “Escrow Deposit Trust Account”), to be held by the Escrow Agent for the sole benefit of the Holders of the Defeased Bonds and accounted for separate and apart from the other funds of the Issuer and, to the extent required by law, of the Escrow Agent. Concurrently with the delivery of this Agreement, the Issuer has caused to be deposited with the Escrow Agent and the Escrow Agent acknowledges receipt of the Available Moneys for deposit in the Escrow Deposit Trust Account in the amount of $ , all of which [(other than $ to be held uninvested)], when invested in Defeasance Obligations as directed by this Agreement, will provide moneys (without taking into account any investment income or earnings received thereon) sufficient to pay when due the interest on the Defeased Bonds and the Redemption Price thereof, as more particularly described in Schedule C. For purposes of clarification, the Available Moneys deposited in the Escrow Deposit Trust Account shall be invested in Defeasance Obligations as directed in this Agreement. Based on the Verification Report, the amount of Available Moneys so deposited in the Escrow Deposit Trust Account, without taking into consideration any investment income or earnings received thereon, is expected to be sufficient to pay when due the interest on the Defeased Bonds and the Redemption Price thereof. For that reason, the investment income and earnings received on the Defeasance Obligations will not be deposited into the Escrow Deposit Trust Account, but instead will be released to the Issuer as provided in Section 3.03 hereof.
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Related to Creation of Escrow Deposit Trust Account and Deposit of Moneys

  • Deposit of Escrow Securities in Escrow (1) You are depositing the securities (escrow securities) listed opposite your name in Schedule “A” with the Escrow Agent to be held in escrow under this Agreement. You will immediately deliver or cause to be delivered to the Escrow Agent any share certificates or other evidence of these securities which you have or which you may later receive.

  • Deposit of Escrow Funds By its execution hereof, Recipient acknowledges that the deposit of the Escrow Funds into escrow with Escrow Agent does not confer any rights or claims to the Escrow Funds by Recipient unless all of the conditions in Section 2 above and the conditions as set forth in the Grant Agreement, have been satisfied.

  • Escrow Accounts Subject to the terms of the related Deferred Servicing Agreement, Seller shall be entitled to withdraw funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing Agreement.

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • DEPOSIT OF ITEMS You may make deposits to Your Account using any method available from Us, including deposits in person, by mail or electronic means. We have the right to refuse to accept any check or instrument for deposit at Our sole discretion. If You deposit an item and it is returned unpaid, We will debit Your Account for the amount of the item and charge You a fee. You will be liable to Us for the amount of any item You deposit which is returned unpaid, and in addition, will be responsible for any of Our costs and expenses incurred in the collection of such returned item from You, including reasonable attorneys' fees. Subject to Our Funds Availability Policy, You may not be able to withdraw funds from Your Account until We have received final settlement for any items deposited. If You make a deposit on a Saturday, Sunday, or a holiday, or after Our predetermined cut-off hour on business days, the deposit will be credited to Your Account as of the next business day.

  • Xxxxxxx Money Deposit (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

  • Xxxxxxx Money (Security Deposit) 5.1 While submitting commercial bid, the BIDDER shall deposit an amount………. (to be specified in RFP) as Xxxxxxx Money/Security Deposit, with the BUYER through any of the following instruments:

  • Mobile Deposit The Mobile Deposit feature enables you to use a software application together with your Wireless Access Device to create electronic images of the front and back of certain Original Checks (defined below) and transmit those images and other information, including, without limitation, information captured from the magnetic ink character recognition (“MICR”) line, to us for review and processing in accordance with this Agreement.

  • Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.

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