Hard Deposit Sample Clauses

Hard Deposit. Notwithstanding any provision herein to the contrary, Buyer hereby acknowledges and agrees that $175,000 of the Initial Deposit (the “Hard Deposit”) shall be a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(e). The Hard Deposit shall be paid to Seller upon any termination of this Agreement by either party; provided, however, that Buyer shall be entitled to a return of the Hard Deposit in the case of a termination by Buyer: (I) under Section 3(b)(ii) (Seller Default), (II) prior to expiration of the Inspection Period under Section 6(b) (Title and Survey), (III) prior to expiration of the Inspection Period if Buyer provides evidence to Seller that Buyer is unable to obtain mortgage financing due to an environmental condition described in a Phase I environmental report prepared for Buyer or its prospective lender, (IV) prior to expiration of the Inspection Period, if Buyer requests permission to perform a Phase II environmental site assessment pursuant to a recommendation from Buyer’s environmental consultant and Seller refuses to grant permission for such intrusive physical testing, or (V) under Section 13 (Casualty) or Section 14 (Condemnation). This provision shall survive termination of this Agreement.
Sample 1Sample 2Sample 3See All (6)
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Hard Deposit. Notwithstanding any provision herein to the contrary, Buyer hereby acknowledges and agrees that $300,000 of the Deposit (the “Hard Deposit”) shall be a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(e). The Hard Deposit shall not be held by Escrow Holder but instead shall be delivered directly to Seller no later than one (1) business day after the Effective Date; provided, however, that Buyer shall be entitled to a return of the Hard Deposit from Seller in the case of a termination by Buyer under (I) Section 3(b)(ii) (Seller 3 Default), (II) Section 13(a) (Casualty) or (III) Section 14 (Eminent Domain). This provision shall survive termination of this Agreement.
Sample 1Sample 2See All (4)
Hard Deposit. Notwithstanding any provision herein to the contrary, Buyer hereby acknowledges and agrees that $150,000 of the Initial Deposit (the “Hard Deposit”) shall be a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(e). The Hard Deposit shall be paid to Seller upon any termination of this Agreement by either party; provided, however, that Buyer shall be entitled to a return of the Hard Deposit in the case of a termination by Buyer: (I) under Section 3(b)(ii) (Seller Default), Section 13 (Casualty) or Section 14 (Eminent Domain), (II) under Section 6(b) (Title and Survey), or (III) prior to expiration of the Inspection Period if Buyer provides commercially reasonable evidence to Seller that an environmental condition exists with respect to the Property that Buyer reasonably determines would (A) affect Buyer’s ability to sell the Property or (B) otherwise materially diminish the value of the Real Property. This provision shall survive termination of this Agreement.
Sample 1Sample 2Sample 3
Hard Deposit. Notwithstanding any provision herein to the contrary, Buyer hereby acknowledges and agrees that the Initial Deposit (the “Hard Deposit”) shall be a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(e). The Hard Deposit shall be paid to Seller upon any termination of this Agreement by either party; provided, however, that Buyer shall be entitled to a return of the Hard Deposit in the case of a termination by Buyer: (I) under Section 3(b)(ii) (Seller Default), (II) prior to expiration of the Inspection Period under Section 6(b) (Title and Survey), or (III) prior to expiration of the Inspection Period if Buyer provides evidence verified by Seller that a material and adverse environmental condition exists with respect to the Property that would reasonably affect Buyer’s ability to finance, sell or operate the Property. This provision shall survive termination of this Agreement.
Sample 1Sample 2
Hard Deposit. Notwithstanding any provision herein to the contrary, Buyer hereby acknowledges and agrees that the Initial Deposit (the “Hard Deposit”) shall be a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(f). The Hard Deposit shall be paid to Seller upon any termination of this Agreement by either party; provided, however, that Buyer shall be entitled to a return of the Hard Deposit in the case of a termination by Buyer: (I) under Section 3(b)(ii) (Seller Default), (II) under Section 13(a)(Casualty), or (III) under Section 14 (Condemnation). This provision shall survive termination of this Agreement.
Sample 1
Hard Deposit. Notwithstanding any provision herein to the contrary, Buyer hereby acknowledges and agrees that the Initial Deposit shall be considered a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(e). The Initial Deposit shall be paid to Seller upon any termination of this Agreement by either party; provided, however, that Buyer shall be entitled to a return of the Initial Deposit (less the Independent Contract Consideration) in the case of a termination by Buyer: (I) under Section 3(b)(ii) (Seller Default), (II) prior to expiration of the Inspection Period under Section 6(b) (Title and Survey), (III) prior to expiration of the Inspection Period if Buyer provides satisfactory evidence to Seller that a Recognized Environmental Condition (as defined in ASTM standard E1527-13) (A) exists with respect to the Property and (B) either (1) was not previously disclosed in that certain Phase I Environmental Site Assessment for the Property, dated August 25, 2003, prepared by HBC/Terracon as Report No. 96037420 (the “Existing Environmental Report”), a copy of which Existing Environmental Report Buyer hereby acknowledges and confirms having received from Seller, or (2) has materially adversely changed since being disclosed in the Existing Environmental Report, (IV) under Section 5(a) if Seller refuses to allow intrusive physical testing that prohibits environmental assessment of the Property, (V) under Section 13 (Casualty), or (VI) under Section 14 (Eminent Domain).. This provision shall survive termination of this Agreement.
Sample 1
Hard Deposit. Buyer hereby acknowledges and agrees that the Initial Deposit shall be considered a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(e). Notwithstanding any provision herein to the contrary, the Initial Deposit shall be paid to Seller upon any termination of this Agreement by either party; provided, however, that Buyer shall be entitled to a return of the Initial Deposit in the case of a termination by Buyer: (I) under Section 3(b)(ii) (Seller Default), or (II) prior to expiration of the “Title, Survey, ESA Period” if Buyer is not satisfied with the Hard Deposit Due Diligence Deliveries in its sole discretion. For purposes of this Section, the “Hard Deposit Due Diligence Deliveries” shall mean: (i) the Title Commitment (as defined in Section 6(a)), together with copies of all documents referenced therein to the extent available in the public records; (ii) Seller’s existing survey of the Property; and (iii) Seller’s most recent environmental report(s) prepared for Seller with respect to the Property. Seller shall deliver to Buyer the Hard Deposit Due Diligence Deliveries within one (1) business day after the Effective Date. For purposes of this Section, the “Title, Survey, ESA Period” shall mean the period of time commencing on the Effective Date and expiring at 6:00 p.m. (Eastern) on the fifth (5th) business day after Buyer’s receipt of the Hard Deposit Due Diligence Deliveries. This provision shall survive termination of this Agreement.
Sample 1
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Hard Deposit. Notwithstanding any provision herein to the contrary, Buyer hereby acknowledges and agrees that the Hard Deposit shall be a “hard” deposit that is non-refundable to Buyer except as expressly set forth in this Section 3(e); provided, however, that Buyer shall be entitled to a return by Seller of the Hard Deposit in the case of a termination by Buyer under Section 3(b)(ii) (Seller Default). This provision shall survive termination of this Agreement.
Sample 1

Related to Hard Deposit

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

  • 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.” (b) The Xxxxxxx Money Deposit shall be held by Escrow Agent subject to the terms and conditions of an Escrow Agreement dated as of the date of this Contract entered into by Seller, Buyer and Escrow Agent (the “Escrow Agreement”). The Xxxxxxx Money Deposit shall be held in an interest-bearing account in a federally insured bank or savings institution reasonably acceptable to Seller and Buyer, with all interest to accrue to the benefit of the party entitled to receive it and to be reportable by such party for income tax purposes; provided, however, to the extent that Buyer instructs the Escrow Agent to apply the Xxxxxxx Money Deposit toward the Purchase Price in accordance with Section 2.4, interest shall be deemed to have accrued to the benefit of Buyer and be reportable by Buyer for income tax purposes.

  • 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.

  • 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.

  • Direct Deposit If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (000) 000-0000. This does not apply to transactions occurring outside the United States.

  • The Deposit The Landlord acknowledges receipt of the Deposit from the Tenant. 7.1 At the end of the Tenancy Period, the Landlord shall be entitled to withhold from the Deposit such proportion of the Deposit as may be reasonably necessary to: (a) make good any damage to the Room, Apartment, Common Parts, Building or the Contents (except for fair wear and tear) caused by the Tenant's failure to take reasonable care of the same; (b) replace any of the Contents which may be missing from the Property; (c) pay any Rent or other sums payable by the Tenant hereunder which remains unpaid; (d) compensate the Landlord for, or for rectifying or remedying any major breach by the Tenant of the Tenant's obligations under the Tenancy Agreement, pay for the Room, Apartment and the Contents to be cleaned if the Tenant is in breach of its obligations under clause 2 (e) pay any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Room and Apartment for which the Tenant is liable or which are payable because the Tenant does not qualify for Council Tax exemption(g) removing and disposing of any belongings left by the Tenant at the end of the Tenancy term for the avoidance of doubt use of the Deposit is without prejudice to any other rights or remedies of the Landlord whether express or implied 8.1 The Deposit is protected by mydeposits (the trading name of Tenancy Deposit Solutions Limited) of 0xx Xxxxx, Xxxxxxxxx Xxxxx, Xxxxxxx Xxxx, Xxx Xxxxxx, Xxxxxxxxxxxxx, ENS 1NZ. The Deposit is held by the Managing Agents. 8.2 The Landlord has provided the information required under section 213(5) of the Housing Act 2004 as set out in the Housing (Tenancy Deposits) (Prescribed Information) Order 2007 (SI 2007/797). 8.3 The Landlord agrees that the Deposit shall be held in accordance with the rules of the Tenancy Deposit Scheme. 8.4 The Landlord and Tenant agree that any interest accrued from the Deposit shall be paid to the Landlord. 8.5 The Landlord shall inform the Tenant within ten working days of the Tenancy ending if the Landlord intends to withhold all or part of the Deposit as detailed in clause 7.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Additional Deposit For reasons of administration, the right is reserved to require payment by parents of an additional deposit (Additional Deposit), as shown on the fees list for the relevant year, in the case of a pupil whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Pupil leaves and will be repaid by means of a credit without interest to the final payment of Fees or other sums due to the School on leaving, unless stated otherwise in these terms and conditions. See also clause 9.8.

  • 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.

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

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