Deposit Acknowledgement Sample Clauses
A Deposit Acknowledgement clause serves to formally confirm that a specified deposit has been received by one party from another, typically in the context of a transaction such as a real estate purchase or rental agreement. This clause usually details the amount received, the date of receipt, and may specify the conditions under which the deposit is held or applied. Its core practical function is to provide clear evidence of payment, reducing the risk of disputes regarding whether and when the deposit was made.
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Deposit Acknowledgement. Upon receipt in accordance with the terms of the Flow of Funds Agreement and as part and parcel of the Cash Management Services provided by Service Provider to TRQ hereunder, TRQ shall deposit with Service Provider an amount equal to the aggregate PF Amounts to be made subject to the terms of this Agreement (each a “Deposit” and collectively the “Deposits”). Each Deposit shall be made in US dollars by the transfer or other deposit of money in US dollars from a bank account of TRQ to, and credited to, the Service Provider Account.