Holding of Deposit Sample Clauses

Holding of Deposit. The Escrow Agent shall hold the Deposit in a non-interest bearing account and shall pay the Deposit to the party entitled thereto in accordance with the terms of this Agreement.
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Holding of Deposit. The Deposit shall be held by the Vendor's lawyers in trust on behalf of the parties, pending completion or termination of this Agreement and to be credited on account of the Purchase Price on Closing. If the transaction contemplated in this Agreement is terminated as a result of a default by the Vendor, the Deposit paid shall be returned to the Purchaser forthwith, without deduction. If this transaction is terminated as a result of a default by the Purchaser, the Deposit shall be forfeited to the Vendor.
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Holding of Deposit. The Escrow Agent shall hold the Deposit in an FDIC-insured interest-bearing money market account at Bank of America. The Escrow Agent shall not commingle the Deposit with any other funds of the Escrow Agent. All interest earned on the Deposit will be the property of Purchaser and will be reported to the Internal Revenue Service as income of Purchaser. Purchaser will provide the Escrow Agent with a taxpayer identification number and will pay all income taxes due by reason of interest accruing on the Deposit. If the Closing does not occur, the Escrow Agent shall disburse the Deposit to the party entitled thereto in accordance with the terms and conditions of this Agreement. If the Closing does occur, the Deposit shall be credited against the Purchase Price and disbursed to the Seller as part of the Purchase Price.
Sample 1
Holding of Deposit. The Deposit shall be held in trust within British Columbia in the manner required by the Real Estate Development Marketing Act until: (i) the strata plan has been registered in the Land Title Office and an instrument evidencing the interest of the Buyer in the Property has been registered in the Land Title Office; or (ii) the Deposit is otherwise paid out by operation of law (including pursuant to the terms of the Contract and the Real Estate Development Marketing Act);
Sample 1
Holding of Deposit. The Tenant waives irrevocably the benefit of any provision of law that requires the security to be held in escrow or by a third party. The security is deemed to be the Landlord’s property, and the Landlord may commingle it with the Landlord’s own funds.
Sample 1
Holding of Deposit. The Escrow Agent shall hold the Deposit, in trust, and shall disburse the Deposit in accordance with the provisions of this Agreement and the following additional provisions: (1) If this Agreement is terminated pursuant to Section 2(b) because the Purchaser does not pay the Additional Deposit to the Escrow Agent on or before the Due Diligence Termination Date, or if this Agreement is terminated by the Seller or the Purchaser pursuant to Section 3(d), Section 3(k), Section 4(b) or Section 4(c), the Escrow Agent shall return the Deposit to Purchaser promptly after receipt of a written demand from Purchaser. For this purposes, the Escrow Agent shall be fully protected in relying on a written demand from Purchaser stating that it is entitled to the return of the Deposit pursuant to Section 2(b), Section 3(d), Section 3(k), Section 4(b) or Section 4(c), and the Escrow Agent shall disregard any contrary instructions or demands received by it from Seller. (2) Except as otherwise provided in Section 2(c)(1), if this Agreement is terminated in accordance with its terms after the Due Diligence Termination Date and thereafter either Seller or Purchaser makes a written demand on the Escrow Agent for payment of the Deposit, the Escrow Agent shall give written notice of such demand to the other party. If the Escrow Agent does not receive a written objection from the other party to the proposed payment of the Deposit within 10 days after the giving of such notice, the Escrow Agent shall pay the Deposit to the party making the demand. If the Escrow Agent receives a written objection from the other party within the 10-day period, the Escrow Agent shall continue to hold the Deposit until otherwise directed by written instructions from Seller and Purchaser or until otherwise directed by a court of competent jurisdiction. (3) In the event of a dispute concerning the disposition of the Deposit, the Escrow Agent shall have the right at any time to deposit any cash funds held by it under this Agreement with the clerk of the court of general jurisdiction of the city or county in which the Property is located. The Escrow Agent shall give written notice of such deposit to Seller and Purchaser. Upon such deposit the Escrow Agent shall be relieved and discharged of all further obligations and responsibilities hereunder. (4) The duties of the Escrow Agent are only as herein specifically provided and are purely ministerial in nature. The Escrow Agent shall incur no liability whatsoever...
Sample 1
Holding of Deposit. Upon receipt of the W-9 form and Deposit, Escrow Agent shall invest the Deposit in government insured interest-bearing accounts satisfactory to Seller and Purchaser, shall not commingle the Deposit with any funds of Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation of the investments made. Such account shall have no penalty for early withdrawal, and Purchaser accepts all risks with regard to such account.
Sample 1
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Related to Holding of Deposit

  • Crediting of Deposits Deposits made after the deposit cutoff time and deposits made on holidays or days other than our business days will be credited to your account on the next business day.

  • 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 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)

  • Holding Over If, with Landlord’s express written consent, Tenant retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s sole and absolute discretion, in such written consent, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to 150% of Rent in effect during the last 30 days of the Term, and (B) Tenant shall be responsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding over, including consequential damages. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of Rent after the expiration of the Term or earlier termination of this Lease shall not result in a renewal or reinstatement of this Lease.

  • Return of Deposit Unless otherwise specified in this Agreement, in the event any condition of this Agreement is not met and the Buyer has fulfilled any required notice obligation in a timely manner regarding the condition having not been met, the Escrow Money shall be returned in accordance with Maine law.

  • Release of Deposits Escrow Agent will make available for electronic download (unless otherwise requested) to ICANN or its designee, within twenty-­‐four (24) hours, at the Registry Operator’s expense, all Deposits in Escrow Agent’s possession in the event that the Escrow Agent receives a request from Registry Operator to effect such delivery to ICANN, or receives one of the following written notices by ICANN stating that: 6.1. the Registry Agreement has expired without renewal, or been terminated; or 6.2. ICANN has not received a notification as described in Part B, Sections 7.1 and

  • Receipt of Deposit All images processed for deposit through Mobile Deposit will be treated as “deposits” under your current Account Agreement with us and will be subject to all terms of the Account Agreement. When we receive an image, we will confirm receipt via email to you. We shall not be deemed to have received the image for deposit until we have confirmed receipt to you. Confirmation does not mean that the image contains no errors. We are not responsible for any image that we do not receive.

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

  • 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.

  • 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.

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