Interest on Security. Except for cash escrow, Seller shall not earn or be entitled to any interest on any Security provided pursuant to this Section 8. Cash escrow will earn interest at the rate the applicable Qualified Institution applies to equivalent money market deposits. Any interest accrued on the cash held in escrow shall not become part of the Security and shall be paid to Seller cash escrow when the escrow is returned to Seller under this Agreement unless other arrangements are made by the parties.
Interest on Security. Interest shall accrue monthly on security deposits made by way of cash or cheque commencing on receipt of the total deposit required by Horizon Utilities. The interest rate shall be at the Prime Business Rate as published on the Bank of Canada website less 2 per cent, updated quarterly. The interest accrued to December 31st of each year shall be applied to the first bill of each calendar year or on return or application of the security deposit or closure of the account, whichever comes first, and may be paid by crediting the account of the Customer. A cheque will be issued to those Customers no longer in the Horizon Utilities Corporation service area and whose final bill has been rendered and paid.
Interest on Security. Interest will not be payable by the Principal on any security or cash security or on the cash proceeds of any security converted into money pursuant to sub-clause 30(e).
Interest on Security. Landlord agrees to deposit the security referred to in the Article of this lease captioned "Security" in an interest bearing account in a bank located in New York State. To the extent not prohibited by law, Landlord shall be entitled to receive and retain as an administrative expense that portion of the interest received on such account which represents the maximum fee permitted under applicable law, which fee Landlord shall have the right to withdraw from time to time, as Landlord may determine. The balance of the interest shall be added to and held as part of the security under this lease subject to and in accordance with the provisions of the foregoing Article. Landlord shall not be required to credit Tenant with any interest for any period during which Landlord does not receive interest on the security deposited. Tenant shall receive any portion of the interest on the security deposit to which it is entitled provided Tenant requests same from Landlord in writing. Such request is limited to no more than once in any calendar year.
