Handling of Deposit Sample Clauses

Handling of Deposit. Title Company shall deposit the Deposit in an interest-bearing account, and the term "Deposit" as used in this Agreement shall include any interest earned thereon.
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Handling of Deposit. The Escrow Agent shall place the Deposit in the Fidelity Treasury Only Fund through Banc of America Securities LLC (the “Depository”). Seller and Purchaser expressly consent to this fund. Purchaser’s federal tax identification number shall be utilized in opening the investment. In no event shall Escrow Agent incur any liability for levies by taxing authorities based upon the taxpayer identification number provided to Escrow Agent and used to establish the Escrow Account. The interest from such Deposit shall accrue for the benefit of Purchaser, unless the Deposit is paid to Seller pursuant to a default of this Agreement by Purchaser. Any and all payments made by the Escrow Agent from the Deposit shall be made in accordance with this Section 3. Escrow Agent shall have no liability in the event of failure, insolvency or inability of the Depository to pay such funds, or accrued interest upon demand or withdrawal.
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Handling of Deposit. The Deposit shall be deposited in an interest bearing money market or savings account with a national banking association or federally chartered savings and loan association, which interest shall accrue to the benefit of the BUYER and shall be applied to the Purchase Price at the Closing.
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Handling of Deposit. As used in this Agreement, the term “Deposit” means the Initial Deposit (plus any interest earned thereon while such funds are held in Escrow) and any Additional Deposit. As stated in Subsection 2.2.3 above, the term “Deposit” does not include the Independent Consideration. Except as is otherwise expressly provided in Subsection 2.2.2 above, the Deposit shall: (i) be deposited by Title Company in an interest bearing account; (ii) be disbursed or applied by the Title Company only as provided in this Agreement; (iii) be non-refundable to Buyer, except in the event of a breach or default under this Agreement by Seller, non-satisfaction of one or more of the closing conditions under Section 4.1 of this Agreement, or termination of this Agreement pursuant to Sections 4.2, 6.2, 7.1, 7.2, 8.3 or 13.2 of this Agreement; and (iv) be credited to payment of the Purchase Price at Closing. Without limiting the foregoing, in the event any of the conditions set forth in Section 4.1 are not satisfied or waived in writing by Buyer on or prior to the Closing Date, then Buyer shall have the right to terminate this Agreement pursuant to the provisions of Section 4.2 below and obtain a release of the Deposit in accordance with the provisions of Section 4.2 below.
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Handling of Deposit. Escrow Agent shall deposit the Initial Deposit and the Additional Deposit (collectively, the "Deposit") in a non-commingled federally insured interest bearing trust account and shall invest the Deposit in insured money market accounts, certificates of deposit, United States Treasury Bills, or such other instruments as Buyer may instruct from time to time. Upon Buyer's deposit of the Additional Deposit, the entire Deposit shall become non-refundable, except as may be expressly provided otherwise herein. If the sale and purchase of the Property is consummated as contemplated hereunder, the amount of the Deposit, plus any interest or dividends earned thereon, shall be credited against the Purchase Price at the "Closing" (as defined in Section 8.1 below). If the sale and purchase of the Property is not consummated because of the termination of this Agreement by Buyer in accordance with any right to so terminate provided herein, or the failure of any "Buyer's Conditions" (as defined in Section 7.1 below), or for any other reason except for a default under this Agreement solely on the part of Buyer, Buyer shall give Seller and Escrow Agent Notice of the same, and the Deposit, plus any interest or dividends earned thereon, shall be immediately returned to Buyer by Escrow Agent.
Sample 1
Handling of Deposit. Escrow Agent shall, within seven (7) business days of Date of Deposit Receipt, place the Deposit in Escrow Agent’s Trust Account. Escrow Agent may not use the Deposit for any purpose other than that for which it is delivered to Escrow Agent. Neither Buyer nor Seller shall receive interest on the Deposit. Escrow Agent may pool and commingle other trust funds with the Deposit as allowed by law.
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Related to Handling of Deposit

  • Release of Deposit If DSI does not receive Contrary Instructions from the Depositor, DSI is authorized to release the Deposit Materials to the Preferred Beneficiary or, if more than one beneficiary is registered to the deposit, to release a copy of the Deposit Materials to the Preferred Beneficiary. However, DSI is entitled to receive any fees due DSI before making the release. Any copying expense in excess of $300 will be chargeable to Preferred Beneficiary. This Agreement will terminate upon the release of the Deposit Materials held by DSI.

  • Payment of Deposits In the event any depositor does not accept the obligation of the Assuming Institution to pay any Deposit liability of the Failed Bank assumed by the Assuming Institution pursuant to this Agreement and asserts a claim against the Receiver for all or any portion of any such Deposit liability, the Assuming Institution agrees on demand to provide to the Receiver funds sufficient to pay such claim in an amount not in excess of the Deposit liability reflected on the books of the Assuming Institution at the time such claim is made. Upon payment by the Assuming Institution to the Receiver of such amount, the Assuming Institution shall be discharged from any further obligation under this Agreement to pay to any such depositor the amount of such Deposit liability paid to the Receiver.

  • MAINTENANCE OF DEPOSIT ACCOUNTS PSC shall maintain on behalf of Customer such deposit accounts as are necessary or desirable from time to time to enable PSC to carry out the provisions of this Agreement.

  • Application of Deposit In the event that Tenant is in Default hereunder and fails to cure within any applicable time permitted under this Lease, or in the event that Tenant owes any amounts to Landlord upon the expiration of this Lease, Landlord may use or apply the whole or any part of the Security Deposit for the payment of Tenant’s obligations hereunder. The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any Law and shall not be construed as liquidated damages.

  • Acceptance of Deposit At completion of the deposit inspection, if DSI determines that the labeling of the tangible media matches the item descriptions and quantity on Exhibit B, DSI will date and sign Exhibit B and mail a copy thereof to Depositor and Preferred Beneficiary. If DSI determines that the labeling does not match the item descriptions or quantity on Exhibit B, DSI will (a) note the discrepancies in writing on Exhibit B; (b) date and sign Exhibit B with the exceptions noted; and (c) mail a copy of Exhibit B to Depositor and Preferred Beneficiary. DSI's acceptance of the deposit occurs upon the signing of Exhibit B by DSI. Delivery of the signed Exhibit B to Preferred Beneficiary is Preferred Beneficiary's notice that the Deposit Materials have been received and accepted by DSI.

  • Administration of Deposit Accounts Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts. Each Obligor shall take all actions necessary to establish Agent’s control over each such Deposit Account (other than Excluded Deposit Accounts). Each Obligor shall be the sole account holder of each Deposit Account and shall not allow any Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Obligor shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Subaccount for the Class A(2018-6) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus any amount on deposit in the Accumulation Reserve Subaccount for the Class A(2018-6) Notes.

  • Custody Account The Custodian shall open and maintain in its trust department a custody account in the name of each Fund, subject only to draft or order of the Custodian, in which the Custodian shall enter and carry all Securities, cash and other assets of the Fund which are delivered to it.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”).

  • Cash Deposit No cash will be deposited into the certificate account on the closing date.

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