Entitlement to Deposit Sample Clauses

Entitlement to Deposit. (a) If Completion occurs, the Seller is entitled to receive the Deposit from the Deposit Holder. (b) If this Agreement is terminated where the Buyer has not defaulted, the Buyer is entitled to a refund of the Deposit. (c) If this Agreement is terminated where the Buyer has defaulted, the Seller is entitled to receive the Deposit from the Deposit Holder.
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Entitlement to Deposit. (a) Subject to paragraph (b) and clause 3.4, the Purchaser is entitled to the Deposit and the Deposit must be returned to the Purchaser immediately if this agreement is lawfully terminated by the Purchaser before Completion. (b) The Seller is entitled to the Deposit immediately if: (i) Completion occurs; (ii) before Completion, the Seller terminates this agreement in accordance with clause 4.2(d) because of a breach by the Purchaser; (iii) before Completion, the Purchaser repudiates this agreement or is not willing or able to complete or perform its obligations prior to or on Completion, including its obligations under clause 6.4; or (iv) Completion does not occur within 60 days from the date of execution of this agreement by both parties, provided that the Seller has not materially contributed to the failure of Completion occurring. (c) In the event that the Seller is entitled to the Deposit immediately under paragraphs (b)(iii) or (b)(iv) above, this agreement may be terminated immediately by the Seller by notice given to the Purchaser, without any liability of the Seller to the Purchaser, and the Seller may retain the Deposit and subject to clause 3.6 below, exercise any further rights or remedies available to the Seller at law or in equity.
Sample 1
Entitlement to Deposit. (a) The Assignor is entitled to the Deposit and any accrued interest on the Deposit if: (1) Completion occurs in accordance with Clause 6; or (2) the Assignee is in breach of: (A) any obligation under this agreement (other than those which require the payment of money to the Assignor and those which are incapable of remedy) and has not remedied that breach within 5 Business Days notice from the Assignor to do so; (B) any obligation under this agreement which is incapable of remedy; or (C) any obligation under this agreement to pay money to the Assignor. (b) The Assignee is entitled to the Deposit and any accrued interest on the Deposit in all circumstances (including if this agreement is terminated) except where the Assignor is entitled to the Deposit and any accrued interest in accordance with Clause 3.4(a). (c) The rights set out in Clauses 3.4(a) and (b) are without prejudice to any other rights or remedies that the parties may have.
Sample 1

Related to Entitlement to Deposit

  • Entitlement to Benefits Notwithstanding the other provisions of this Agreement, a benefit under this Agreement shall not be granted in respect of an item of income if it is reasonable to conclude, having regard to all relevant facts and circumstances, that obtaining that benefit was one of the principal purposes of any arrangement or transaction that resulted directly or indirectly in that benefit, unless it is established that granting that benefit in these circumstances would be in accordance with the object and purpose of the relevant provisions of this Agreement.

  • Entitlement to payment An employee shall be entitled to payment by the employer for ordinary time lost through inclement weather for up to 32 hours in every four weeks. For the purpose of this sub- clause the following conditions shall apply: 24.12.1 The first period shall be deemed to commence on 11 January 1999 and subsequent periods shall commence at four weekly periods thereafter. 24.12.2 An employee shall be credited with 32 hours at the commencement of each four weekly period. 24.12.3 The number of hours at the credit of any employee at any time shall not exceed 32 hours. 24.12.4 If an employee commences employment during a four weekly period the employee shall be credited 32 hours where the employee commences on any working day within the first week; 24 hours where the employee commences on any working day within the second week; 16 hours where the employee commences on any working day within the third week; and 8 hours where the employee commences on any working day within the fourth week. 24.12.5 No employee shall be entitled to receive more than 32 hours inclement weather payment in any period of four weeks. 24.12.6 The number of hours credited to any employee under this clause shall be reduced by the number of hours for which payment is made in respect of lost time through inclement weather. 24.12.7 Payment under this clause shall be weekly. 24.12.8 Provided further and subject to 30.9.4 hereof, an employee working on a part-time basis pursuant to the award shall be entitled to payment on a pro-rata basis according to the number of ordinary hours agreed to be worked in the four week period. The method of calculation of a part-time daily hire employee’s proportionate entitlement shall be as follows:

  • Reservation Deposit A deposit totaling 35% of the agreed upon total amount is due with acceptance of rental agreement. Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by major credit card service offered by WPVP at time of reservation. We accept VISA or MASTERCARD.

  • Payment of Deposit The Buyer must pay the Deposit to the Developer. The Developer agrees to accept the payment of the Deposit in 2 instalments as follows: (a) the sum of: (i) 5% of the Contract Price by cheque or Bank Guarantee; or (ii) 10% of the Contract Price by Bond on the date of this contract (First Instalment); and (b) the balance of 10% of the Contract Price (if it has not already been paid) by unendorsed bank cheque on the Date for Completion (Second Instalment)

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