Disposition of Deposit upon Termination Sample Clauses

Disposition of Deposit upon Termination. If Buyer terminates this Agreement as a result of Seller’s material breach as described in Section 7.1(b) or as described in Section 7.1(f), the Buyer’s Deposit shall be paid and delivered by the Escrow Agent to Buyer. If this Agreement terminates for any other reason or cause, then Buyer’s Deposit shall be paid and delivered by the Escrow Agent to Seller.
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Disposition of Deposit upon Termination. In the event this Contract is terminated in accordance with its terms, the terminating party shall provide written notice of such termination to the other party with a copy to the Settlement Agent, identifying the specific Section or subsection pursuant to which the party is exercising its right of termination. If the Contract is terminated on or before the last day of the Title Period, the Deposit shall be returned to Buyers. If the Contract is terminated after the end of the Title Period the Deposit shall be disbursed in accordance with the Contract provision identified in the notice of termination. The non- terminating party shall have five (5) business days to object to the notice of termination by delivering a written objection to the terminating party and the Settlement Agent. If a written objection is not delivered within the prescribed time period, the Settlement Agent shall promptly disburse the Deposit in accordance with this Section 14. If an objection is timely received, the Settlement Agent shall hold the Deposit in escrow until: (i) all parties have agreed in writing as to its disposition; or (ii) a court of competent jurisdiction orders disbursement and all applicable appeal periods have expired. Whenever this Contract requires the Deposit to be returned to Buyers, the Settlement Agent shall return the Deposit to whichever Buyer – either the School Board or the County – that tendered the Deposit to the Settlement Agent pursuant to Section 3.
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Disposition of Deposit upon Termination. (a) The Deposit shall be forfeited by Purchaser and become the sole and exclusive property of Seller, as agreed upon liquidated damages and not as a penalty, and as the sole and exclusive remedy of Seller against Purchaser, upon the occurrence of either of the following:
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Disposition of Deposit upon Termination. If this Agreement is terminated (i) pursuant to Section 10.1(a), (ii) by Buyer pursuant to Section 10.1(b), Section 10.1(c), Section 10.1(d), Section 10.1(e), or (iii) by AFDI (on behalf of all Sellers) pursuant to Sections 10.1(b), 10.1(c) or 10.1(e), the Deposit shall be returned by the Deposit Escrow Agent to the Buyer to an account designated by Buyer in its notice of termination pursuant to Section 10.2. If this Agreement is terminated by AFDI (on behalf of the Sellers) pursuant to Section 10.1(d) on or after November 20, 2000, the Deposit shall be retained by the Deposit Escrow Agent in accordance with the Deposit Escrow Agreement, it being understood and agreed that the Sellers shall retain all remedies against the Buyer, whether arising at law or in equity, with respect to such termination. If this Agreement is terminated by Buyer pursuant to Section 10.1(f) or by AFDI (on behalf of all Sellers) pursuant to Section 10.1(d) on or prior to November 19, 2000, the Deposit, as Seller's sole and exclusive remedy and as liquidated damages with respect to a termination under Section 10.1(d) and as a termination fee with respect to a termination under Section 10.1(f) (each Seller hereby waiving all other remedies, whether arising at law or in equity) shall be paid over by the Deposit Escrow Agent to AFDI (on behalf of the Sellers) to an account designated by AFDI in its notice of termination pursuant to Section 10.2.
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Disposition of Deposit upon Termination. If this Agreement is terminated (i) pursuant to Section 11(a)(i), (ii) by the Buyer pursuant to Section 11(a)(ii)-Section 11(a)(v) (exclusive of Section 11(a)(iii)), or (iii) by Vista (on behalf of all Sellers) pursuant to Section 11(a) (iv) or Section 11(a)(v), the Deposit shall be returned by the Escrow Agent to the Buyer to an account designated by the Buyer in its notice of termination. If this Agreement is terminated by Vista (on behalf of the Sellers) pursuant to Section 11(a)(iii), the Deposit shall be distributed by the Escrow Agent to Vista in accordance with the Escrow Agreement, it being understood and agreed that, upon the distribution of the Deposit to Vista, the Sellers shall be deemed to have accepted such Deposit as liquidated damages in full and complete satisfaction of any and all claims against the Buyer and its Affiliates under or related to this Agreement and its termination, and the Sellers will thereby relinquish and release all remedies against the Buyer and its Affiliates, and their respective shareholders, members, officers, directors, employees, agents and representatives, from any and all claims of every type and kind, whether arising at law or in equity.
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Related to Disposition of Deposit upon Termination

  • Payments Upon Termination 4.1 The Customer shall pay the Company liquidated damages (total monthly fee as specified in the Sales and Services Agreement x remaining months in the Term) upon the occurrence of any of the following events before the expiry of the Term:

  • Payment Upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

  • Procedure Upon Termination In the event of termination by Buyer or Seller, as applicable, pursuant to Section 6.1 hereof, written notice thereof shall forthwith be given to the other party and the transactions contemplated by this Agreement shall be terminated without further action by Buyer or Seller. If the transactions contemplated by this Agreement are so terminated:

  • Action Upon Termination (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:

  • Surrender Upon Termination The Executive agrees that in the event of the termination of the Executive's employment for any reason, whether before or after the Term, the Executive will immediately deliver to the Company all property belonging to the Company, including documents and materials of any nature pertaining to the Executive's work with the Company, and will not take with the Executive any documents or materials of any description, or any reproduction thereof of any description, containing or pertaining to any Confidential Information. It is understood that the Executive is free to use information that is in the public domain, but not as a result of a breach of this Agreement.

  • Actions Upon Termination In the event of termination not the fault of the Contractor, the Contractor shall be paid for the services properly performed prior to termination, together with any reimbursable expenses then due, but in no event shall such compensation exceed the maximum compensation to be paid under the Contract. The Contractor agrees that this payment shall fully and adequately compensate the Contractor and all subcontractors for all profits, costs, expenses, losses, liabilities, damages, taxes, and charges of any kind whatsoever (whether foreseen or unforeseen) attributable to the termination of this Contract. Upon termination for any reason, the Contractor shall provide Seattle with the most current design documents, contract documents, writings and other product it has completed to the date of termination, along with copies of all project-related correspondence and similar items. Seattle shall have the same rights to use these materials as if termination had not occurred.

  • Deliveries Upon Termination Upon termination of this Agreement, ALPS agrees to cooperate in the orderly transfer of distribution duties and shall deliver to the Fund or as otherwise directed by the Fund (at the expense of the Fund) all records and other documents made or accumulated in the performance of its duties for the Fund hereunder. In the event ALPS gives notice of termination under this Agreement, it will continue to provide the services contemplated hereunder after such termination at the contractual rate for up to 120 days, provided that the Fund uses all reasonable commercial efforts to appoint such replacement on a timely basis.

  • Delivery upon Termination Upon termination of Manager's employment with the Company for any reason, Manager shall promptly deliver to the Company all correspondence, files, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, and any other documents or data concerning the Company's or any affiliate’s customers, database, business plan, marketing strategies, processes or other materials which contain Confidential Information, together with all other property of the Company or any affiliate in Manager's possession, custody or control. ARTICLE SIX

  • Accounting Upon Termination of Servicer Upon termination of the Servicer, the Servicer shall, at its expense:

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