Common use of Initial Deposit Clause in Contracts

Initial Deposit. Tenant has deposited with Landlord the sum specified in the Basic Lease Information as the “Deposit.” The Deposit shall be held by Landlord as security for the faithful performance by Tenant of all of the provisions of this Lease to be performed or observed by Tenant. If Tenant fails to pay rent or other charges due hereunder (subject to any notice required under Section 18), or otherwise defaults with respect to any provision of this Lease, then Landlord may, without waiver of default or of any other right or remedy, use, apply or retain all or any portion of the Deposit for the payment of any rent or other charge in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. If Landlord so uses or applies all or any portion of the Deposit, Tenant shall within ten (10) days after demand therefor deposit cash with Landlord in an amount sufficient to restore the Deposit to the full amount thereof and Tenant’s failure to do so shall be a material breach of this Lease. If Tenant performs all of Tenant’s obligations hereunder, the Deposit, or so much thereof as has not theretofore been applied by Landlord, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at the expiration of the Term, and after Tenant has vacated the Premises.

Initial Deposit. Tenant (a) Upon the execution and delivery of this Agreement, Purchaser shall pay to the Seller, as a deposit towards the Purchase Price, an amount equal to $3,000,000, of which $375,000 has deposited with Landlord the sum specified already been delivered to Seller directly in the Basic Lease Information as form of the “Bridge Loan (the "Initial Deposit.” The Deposit "), by wire transfer of immediately available funds to an account designed in writing by Seller solely for the purposes of settling the Seller Debt and/or the Unaccredited Investor Cash Out Amount at Closing. Such account shall be held by Landlord as security for the faithful performance by Tenant of all of the provisions of this Lease to a separate and distinct interest-bearing account and shall not be performed or observed by Tenant. If Tenant fails to pay rent or other charges due hereunder (subject to any notice required under Section 18)lien, encumbrance, attachment, trustee process or any other judicial process of any creditor of any party hereto. Seller shall not distribute, use or release the Initial Deposit except for the purposes of settling (i) the Unaccredited Investor Cash Out Amount at or following Closing, (ii) Seller Debt, or otherwise defaults (iii) in accordance with respect to any provision the express terms and conditions of this LeaseAgreement. Notwithstanding the foregoing, then Landlord mayPurchaser acknowledges and agrees that Seller may use the Initial Deposit to make the payments in respect of Seller Debt described on Schedule 2.4 of the Seller Disclosure Letter; provided, without waiver of default however, that from the Agreement Date through the Closing, Seller shall not distribute, use or of any other right or remedy, use, apply or retain all or release any portion of the Initial Deposit for the payment of to settle or repay any rent Seller Debt (i) relating to or other charge in default, arising from any Convertible Notes or for the payment of (ii) to settle or repay any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. If Landlord so uses or applies all or any portion Liabilities not listed on Schedule 2.4 of the DepositSeller Disclosure Letter. (b) At least one (1) Business Day prior to Closing, Tenant Seller shall within ten deliver to Purchaser (10i) days after demand therefor deposit cash a schedule setting forth the names of all Unaccredited Securityholders and a good faith estimate of the amount to be paid to each such Unaccredited Securityholder from the Initial Deposit in accordance with Landlord in an the Plan of Liquidation and (ii) a schedule setting forth (A) Seller's good faith estimate of all outstanding Seller Debt measured as of immediately prior to Closing, (B) the holders of such outstanding Seller Debt and (C) the amount sufficient of money due and owing from Seller to restore such holders of outstanding Seller Debt (collectively, the Deposit to the full amount thereof and Tenant’s failure to do so "Closing Date Schedule"), which Closing Date Schedule shall be a material breach reasonably acceptable to Purchaser; provided, however, that any item of this Lease. If Tenant performs all Seller Debt set forth on the Closing Date Schedule which was also set forth on Schedule 2.4 of Tenant’s obligations hereunder, the Deposit, or so much thereof as has not theretofore been applied by Landlord, Seller Disclosure Letter shall be returned, without payment of interest or other increment for its use, deemed acceptable to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at the expiration of the Term, and after Tenant has vacated the PremisesPurchaser.

Initial Deposit. Tenant has deposited with Landlord Within five (5) business days after the sum specified in Effective Date, Buyer shall deliver to Escrow Holder the Basic Lease Information as the “Initial Deposit.” . The Initial Deposit and Additional Deposit (if applicable) shall be held deposited by Landlord Escrow Holder in an interest-bearing account at a federally insured institution as security for Escrow Holder deems appropriate and consistent with the faithful performance by Tenant of all of the provisions timing requirements of this Lease Agreement. The interest thereon shall accrue to the benefit of Buyer and be performed or observed by Tenant. If Tenant fails paid to pay rent or other charges due hereunder (subject the party receiving the Deposit pursuant to any notice required under Section 18), or otherwise defaults with respect to any provision the terms of this LeaseAgreement, then Landlord may, without waiver and Buyer and Seller hereby acknowledge that there may be penalties or interest forfeitures if the applicable instrument is redeemed prior to its specified maturity. Buyer agrees to provide its Federal Tax Identification Number to Escrow Holder upon the Opening of default or of any other right or remedy, use, apply or retain all or any portion of the Deposit for the payment of any rent or other charge in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer therebyEscrow. If Landlord so uses or applies all or any portion of the Deposit, Tenant shall within ten (10) days after demand therefor deposit cash Concurrently with Landlord in an amount sufficient to restore the Deposit to the full amount thereof and Tenant’s failure to do so shall be a material breach of this Lease. If Tenant performs all of Tenant’s obligations hereunder, the Deposit, or so much thereof as has not theretofore been applied by Landlord, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at the expiration of the TermProperty Approval Period and provided Buyer has delivered Buyer's Approval Notice (as those terms are defined in Sections 4.1.1 and 4.1.2, respectively, below) to Seller and Escrow Holder, the entire Initial Deposit shall become non-refundable except as otherwise expressly provided in this Agreement. If, prior to the expiration of the Property Approval Period, Buyer delivers written notice to Seller and Escrow Holder terminating this Agreement or if Buyer does not deliver Buyer's Approval Notice to Seller and Escrow Holder as provided herein, this Agreement shall terminate and the Initial Deposit, together with all interest accrued thereon (but less the Independent Consideration (as defined in Section 2.5 below) and one-half (1/2) of any escrow cancellation costs), shall be returned to Buyer. If this Agreement has not been so terminated, then, after Tenant has vacated the PremisesContingency Deadline, the Initial Deposit together with interest accrued thereon shall be: (i) applied and credited toward payment of the First Closing Purchase Price on the First Closing Date (as defined in Section 3.2.1 below), or (ii) retained by Seller as liquidated damages pursuant to Section 16.2 below, or (iii) returned to Buyer (less the Independent Consideration) if this Agreement is terminated pursuant to Sections 3.2.2, 4.4 or 13, or this Agreement is terminated because of a material breach by Seller in accordance with Section 16.1, or this Agreement is terminated and otherwise provides for the Deposit to be refunded to Buyer.

Initial Deposit. Tenant Concurrently herewith, Capital shall deliver to the Deposit Escrow Agent ONE MILLION DOLLARS ($1,000,000) in cash (including any interest, earnings or distributions thereon, collectively, the "INITIAL DEPOSIT"), which shall belong to whomever is ultimately entitled to the Initial Deposit. Each Party shall take such actions, including, without limitation, issuing written instructions to the Deposit Escrow Agent, as may be necessary or advisable to cause the Initial Deposit to be immediately released and delivered to NHG by the Deposit Escrow Agent upon the date that a Liquidated Damages Event occurs. As used herein, a "LIQUIDATED DAMAGES EVENT" means any expiration or termination of this Agreement for any reason, other than a failure of the condition in Section 12(b)(i) hereof, a Section 13 Termination or either Party's failure to obtain the Regulatory Insurance Approvals despite their best efforts to do so; provided, however, that to the extent that the Initial Deposit (or any portion thereof) has deposited with Landlord not been released and delivered to NHG prior to the sum specified in Closing (the Basic Lease Information as "UNDISBURSED INITIAL Deposit"), the “Deposit.” The Undisbursed Initial Deposit shall be held by Landlord as security for released and delivered to the faithful performance by Tenant NHG Shareholders at the Closing (if any) according to the terms of all of the provisions Sections 2 and 3 of this Lease to Agreement and shall be performed or observed by Tenantcredited against the Cash Consideration on a dollar-for-dollar basis. If Tenant fails to pay rent or other charges due hereunder (subject to any notice required under Section 18), or otherwise defaults with respect to any provision of this Lease, then Landlord may, without waiver of default or of any other right or remedy, use, apply or retain all All or any portion of the Initial Deposit for that has been delivered to NHG prior to the payment Closing shall also be so credited against the Cash Consideration at the Closing. Any disposition of any rent or other charge in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. If Landlord so uses or applies all Initial Deposit (or any portion of thereof) pursuant to this Section 4(a) shall not prejudice any rights or remedies which the DepositParties may otherwise have pursuant to this Agreement. If the agreement expires or is terminated for any reason other than a Liquidated Damages Event, Tenant shall within ten (10) days after demand therefor deposit cash with Landlord in an amount sufficient each Party agrees to restore take such actions, including, without limitation, issuing written instructions to the Deposit Escrow Agent, as may be necessary or advisable to cause the full amount thereof Initial Deposit to be immediately released and Tenant’s failure delivered to do so shall be a material breach of this Lease. If Tenant performs all of Tenant’s obligations hereunder, Capital by the Deposit, or so much thereof as has not theretofore been applied by Landlord, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at the expiration of the Term, and after Tenant has vacated the PremisesDeposit Escrow Agent.

Initial Deposit. Tenant has deposited with Landlord Within five (5) business days after the sum specified in Effective Date, Buyer shall deliver to Escrow Holder the Basic Lease Information as the “Initial Deposit.” . The Initial Deposit and Additional Deposit (if applicable) shall be held deposited by Landlord Escrow Holder in an interest-bearing account at a federally insured institution as security for Escrow Holder deems appropriate and consistent with the faithful performance by Tenant of all of the provisions timing requirements of this Lease Agreement. The interest thereon shall accrue to the benefit of Buyer and be performed or observed by Tenant. If Tenant fails paid to pay rent or other charges due hereunder (subject the party receiving the Deposit pursuant to any notice required under Section 18), or otherwise defaults with respect to any provision the terms of this LeaseAgreement, then Landlord may, without waiver and Buyer and Seller hereby acknowledge that there may be penalties or interest forfeitures if the applicable instrument is redeemed prior to its specified maturity. Buyer agrees to provide its Federal Tax Identification Number to Escrow Holder upon the Opening of default or of any other right or remedy, use, apply or retain all or any portion of the Deposit for the payment of any rent or other charge in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer therebyEscrow. If Landlord so uses or applies all or any portion of the Deposit, Tenant shall within ten (10) days after demand therefor deposit cash Concurrently with Landlord in an amount sufficient to restore the Deposit to the full amount thereof and Tenant’s failure to do so shall be a material breach of this Lease. If Tenant performs all of Tenant’s obligations hereunder, the Deposit, or so much thereof as has not theretofore been applied by Landlord, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at the expiration of the TermProperty Approval Period and provided Buyer has not delivered Buyer's Disapproval Notice (as those terms are defined in Sections 4.1.1 and 4.1.2, respectively, below) to Seller and Escrow Holder, the entire Initial Deposit shall become non-refundable except as otherwise expressly provided in this Agreement. If prior to the expiration of the Property Approval Period, Buyer delivers Buyer's Disapproval Notice to Seller and Escrow Holder, this Agreement shall terminate and the Initial Deposit, together with all interest accrued thereon (but less the Independent Consideration (as defined in Section 2.4 below) and one-half (1/2) of any escrow cancellation costs), shall be returned to Buyer. If this Agreement has not been so terminated, then, after Tenant has vacated the PremisesContingency Deadline, the Initial Deposit together with interest accrued thereon shall be: (i) applied and credited toward payment of the Purchase Price at the Close of Escrow, or (ii) retained by Seller as liquidated damages pursuant to Section 16.2 below, or (iii) returned to Buyer (less the Independent Consideration) if this Agreement is terminated pursuant to Sections 4.4 or 13, or this Agreement is terminated because of a material breach by Seller in accordance with Section 16.1, or this Agreement is terminated and otherwise provides for the Deposit to be refunded to Buyer.

Initial Deposit. Tenant has deposited Within two days following the Effective Date, Purchaser must deposit with Landlord Fidelity National Title Insurance Company of New York, Xxx Xxxx Xxxxxx, Xxxxx 000, Xxx Xxxx, XX 00000, Attention: Xxxx Xxxxxxx, Telephone: (000) 000-0000; Facsimile: (212) 481-1325 ("Escrow Agent") the sum specified amount of One Million Five Hundred Thousand and no/100ths Dollars ($1,500,000.00) (the "Escrow Agent Deposit") and (ii) with Seller the amount of Five Hundred Thousand and no/100ths Dollars ($500,000.00) (the "Firm Deposit"). The Escrow Agent Deposit and the Firm Deposit are collectively the "Initial Deposit". This Agreement shall automatically terminate if Purchaser does not deposit the Initial Deposit with Escrow Agent and Seller by such date. The Firm Deposit will be considered "firm" and non-refundable to Purchaser except for Purchaser's right to terminate the Agreement upon a default by Seller and receive the entire Deposit in the Basic Lease Information as the “Deposit.” The Deposit shall be held by Landlord as security for the faithful performance by Tenant of all of accordance with the provisions of SECTION 12 of this Lease Agreement. Seller agrees to be performed hold, apply and/or disburse the Firm Deposit in accordance with the terms of this Agreement; provided, however, that Seller will have no obligation to invest the Firm Deposit in an interest bearing account or observed by Tenant. If Tenant fails otherwise to pay rent or other charges due hereunder (subject interest on the Firm Deposit. Seller may commingle such funds with Seller's own funds. Seller and Purchaser agree to any notice required under Section 18), or otherwise defaults negotiate in good faith to enter into an Xxxxxxx Money Escrow Agreement with respect to any provision Escrow Agent substantially in accordance with the form of such agreement attached hereto as EXHIBIT G. If the transaction contemplated hereby is consummated in accordance with the terms and conditions of this LeaseAgreement, then Landlord may, without waiver of default or of any other right or remedy, use, apply or retain all or any portion the Deposit (as defined in subparagraph (b) below) will be applied to the Purchase Price at Closing. Purchaser may direct Escrow Agent to invest the Escrow Agent Deposit and the Additional Deposit (as defined below) in an interest-bearing account by giving notice to Escrow Agent and satisfying Escrow Agent's requirements for investing the Escrow Agent Deposit in an interest-bearing account. Any interest earned on the Escrow Agent Deposit will become part of the Escrow Agent Deposit for the payment of any rent or other charge in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. If Landlord so uses or applies all or any portion of the Deposit, Tenant shall within ten (10) days after demand therefor deposit cash with Landlord in an amount sufficient to restore the Deposit and will be paid to the full amount thereof and Tenant’s failure party that becomes entitled to do so shall be the Escrow Agent Deposit. In the event of a material breach of this Lease. If Tenant performs all of Tenant’s obligations hereunderdefault by either party, the Deposit, or so much thereof as has not theretofore been applied Escrow Agent Deposit will be disbursed by Landlord, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at the expiration of the TermEscrow Agent, and after Tenant has vacated the PremisesFirm Deposit will be disbursed or retained by Seller, in accordance with Section 12 hereof.

Initial Deposit. Tenant Declaration of Trust and Issuance of ----------------------------------------------------- Initial Creation Baskets. ------------------------- (a) The Trustee acknowledges that the Trustee has deposited received (i) from the Initial Custodian confirmation that the Initial Custodian has credited the Initial Deposit to the Trust Unallocated Account, and (ii) the Transaction Fee(s) payable with Landlord respect to the sum Purchase Order(s) relating to issuance of the initial Creation Baskets, if any. The Trustee hereby declares that subject to the terms and conditions of this Agreement, (i) the Initial Deposit, (ii) all Gold that the Custodian credits to the Trust Allocated Account, the Trust Unallocated Account and any other Custody Account, in accordance with the Custody Agreements, and (iii) all other assets owned by the Trust from time to time, shall be owned by the Trust and the Trustee as trustee thereof, for the use and benefit of all present and future Beneficial Owners in accordance with their respective beneficial interests as the same may be constituted from time to time. (b) The Trustee hereby confirms that, in exchange for the Initial Deposit, the Trustee has issued the Global Security to the Depository and that, upon the registration statement for the sale of the Equity Gold Shares being declared effective, the Trustee will direct the Depository to credit to the Depositor identified in Schedule A the Equity Gold Shares constituting the number of Creation Baskets identified in such Schedule A. (c) Pursuant to the Distribution Agreement (the "Distribution Agreement") between the Sponsor and UBS Warburg LLC (the "Underwriter"), on the third Business Day following the date on which the Distribution Agreement is signed (the date on which the Distribution Agreement is signed, the "Underwriter's Order Date" and the third following Business Day, the "Underwriter's Settlement Date"), or such later Business Day which the Sponsor shall specify by written instruction to the Trustee received by the Trustee not later than the Business Day preceding the Underwriter's Settlement Date, the Underwriter shall deliver to the Custodian the Creation Basket Deposit, computed for the Underwriter's Order Date, for the number of Creation Baskets specified in the Basic Lease Information as Distribution Agreement and, upon notice from the “Custodian that the Custodian has received such Creation Basket Deposit.” The Deposit , the Trustee shall be held by Landlord as security issue and deliver such number of Creation Baskets to the Depository for credit to the faithful performance by Tenant of all account of the provisions of this Lease to be performed or observed by Tenant. If Tenant fails to pay rent or other charges due hereunder (subject to any notice required under Section 18), or otherwise defaults with respect to any provision of this Lease, then Landlord may, without waiver of default or of any other right or remedy, use, apply or retain all or any portion of the Deposit for the payment of any rent or other charge in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. If Landlord so uses or applies all or any portion of the Deposit, Tenant shall within ten (10) days after demand therefor deposit cash with Landlord in an amount sufficient to restore the Deposit to the full amount thereof and Tenant’s failure to do so shall be a material breach of this Lease. If Tenant performs all of Tenant’s obligations hereunder, the Deposit, or so much thereof as has not theretofore been applied by Landlord, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at the expiration of the Term, and after Tenant has vacated the PremisesUnderwriter.

Initial Deposit. Tenant On or before the later of (i) two (2) business days after Seller advises Purchaser that Seller's Board of Directors has deposited approved this Agreement or (ii) January 12, 1998, Purchaser shall deposit in Escrow with Landlord the sum specified Escrow Holder, an earnxxx xxxey deposit in the Basic Lease Information as amount of Two and one-half percent (2.5%) of the “Purchase Price, which is equal to Two Million Eight Hundred Thousand Dollars ($2,800,000) (the "Initial Deposit.” "). The Initial Deposit paid by Purchaser pursuant to the terms hereof shall be deposited in a trust account in Escrow, with Escrow Holder, to be held by Landlord as security for the faithful performance by Tenant of all in interest bearing obligations of the provisions of this Lease to be performed or observed by Tenant. If Tenant fails to pay rent or other charges due hereunder (subject to any notice required under Section 18)United States Government, in an institutional savings account, or otherwise defaults in such other investments as Purchaser may by written instrument direct. In lieu of depositing the Initial Deposit in cash with respect Escrow Holder, Purchaser may elect to any provision deliver the Initial Deposit to Escrow Holder, on or before (i) the later of two (2) business days after Seller advises Purchaser that Seller's Board of Directors has approved this LeaseAgreement or (ii) January 12, then Landlord may1998, without waiver in the form of default or an irrevocable standby letter of any other right or remedy, use, apply or retain all or any portion credit ("LOC") issued by a commercial bank acceptable to Seller in the amount of the Deposit for the payment of any rent or other charge in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. If Landlord so uses or applies all or any portion of the Initial Deposit, Tenant shall within ten (10) days after demand therefor with a March 15, 1998, expiration date, naming the Seller as beneficiary and drawable upon sight draft. Unless Purchaser has either elected to terminate this Agreement or deposit the Initial Deposit or Deposit in cash with Landlord in an amount sufficient to restore the Deposit to the full amount thereof and Tenant’s failure to do so shall be a material breach of this Lease. If Tenant performs all of Tenant’s obligations hereunder, the Deposit, Escrow Holder on or so much thereof as has not theretofore been applied by Landlord, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder) at before the expiration of the TermContingency Period, the Escrow Holder shall deliver the LOC to Seller on the next business day following expiration of the Contingency Period. Seller shall not draw on the LOC unless the Contingency Period expires without Purchaser's termination of Escrow and after Tenant the total Deposit (as defined below) has vacated not been released to Seller upon expiration of the PremisesContingency Period. Upon Seller or Escrow Holder's receipt of the Deposit in cash, the LOC shall be returned to Purchaser. The commercial bank issuing the LOC shall have a senior, unsecured debt investment grade rating of "AA" as determined by Moodys or Standard & Poors and shall have an office in the central business district of the City of Los Angeles capable of honoring the presentation of the LOC by Seller.