Interest on the Deposit Sample Clauses

Interest on the Deposit. Any interest earned on the Deposit shall be credited and delivered to the party receiving the Deposit, provided, however, that if the transaction closes, at Closing any interest earned on the Deposit shall be credited to Purchaser by applying the same against the Purchase Price.

Interest on the Deposit. (a) If this agreement is completed then the parties irrevocably authorise the Vendor’s Solicitors to pay all interest earned on the: (1) Initial Deposit to the Vendor; and (2) Final Deposit equally to the Vendor and the Purchaser. (b) If Completion does not occur because of a default of the Purchaser under this agreement or a Contemporaneous Contract then the parties irrevocably authorise the Vendor’s Solicitors to pay all interest earned on the Final Deposit to the Vendor. (c) If: (1) if Completion does not occur because of a default of the Vendor under this agreement or a vendor under a Contemporaneous Contract; or (2) if the Vendor terminates this agreement under clause 6.8, then the parties irrevocably authorise the Vendor’s Solicitors to pay all interest earned on the Final Deposit to the Purchaser. (d) Financial institutions duty, bank charges and other similar charges and expenses are to be deducted from the total amount of interest before the interest is paid under this clause 5.7. (e) The party or parties entitled to the Final Deposit and the interest on completion, termination or rescission of this agreement (whichever occurs) bear the risk of loss of the Final Deposit and of the interest. (f) The Vendor and the Purchaser must give such directions and do all things necessary to give effect to the provisions of this clause 5.7. Each party acknowledges that if it does not provide its Tax File Number to the Vendor’s Solicitors before the Final Deposit is invested then tax may be deducted from its share of interest on the Final Deposit. (g) Pending Completion, rescission or termination of this agreement, the Vendor and the Purchaser shall be deemed to be presently entitled in equal shares to any interest accrued on the Final Deposit. (h) The Vendor and the Purchaser jointly and severally indemnify the Vendor’s Solicitors and agree to keep the Vendor’s Solicitors indemnified for any liabilities, losses, costs, expenses or damages which the Vendor’s Solicitors may sustain or incur in any way under or in relation to the Final Deposit, including but not limited to, liabilities, costs (including legal costs) or expenses arising as a result of a dispute between the parties as to the ownership of the Final Deposit. The Purchaser holds the benefit of this clause for the Vendor’s Solicitors.

Interest on the Deposit. Any interest earned on the Deposit shall be credited and delivered to Primary Purchaser unless the Deposit is paid to Seller pursuant to Section 9.3, in which case such interest shall be paid to Seller.

Interest on the Deposit. Any Interest which accrues on the balance for the time being standing to the credit of the UK Collection Account shall be credited to the UK Collection Account.

Interest on the Deposit. Any interest earned on the Deposit shall be credited and delivered to the party receiving the Deposit, provided, however, that if the transaction closes, at Closing any interest earned on the Deposit shall be credited to Purchaser by applying the same against the Purchase Price. Such interest shall be reported as the income of Purchaser for tax purposes. Purchaser’s tax ID number is 00-0000000.

Interest on the Deposit. (1) Interest on the deposit shall be calculated based on the term of deposit and the interest rate determined on the date of deposit (or in case of renewal, the latest renewal date) (the "Contracted Rate"). Interest shall be calculated on a prorated daily basis for 365 days a year (if the term of deposit is not less than two (2) years, 366 days in case of a leap year). (2) SMBC Trust Bank shall pay the interest due together with the principal on the maturity date. However, the interest on deposits with a term of two (2) years shall be paid as follows: ① The interim interest amount due on the date twelve (12) months from the date of deposit (the "Interim Interest Payment Date"), calculated by multiplying seventy percent (70%) of the Contracted Rate by the number of days from the date of deposit until the day before the Interim Interest Payment Date (the "Interim Interest"), shall be paid as part of the interest as of the Interim Interest Payment Date. The Interim Interest shall be credited to a Yen savings deposit account.

Interest on the Deposit. (1) Interest on the deposit shall be calculated based on the term of deposit and the interest rate determined on the date of deposit (or in case of renewal, the latest renewal date) (the "Contracted Rate"). Interest shall be calculated on a prorated daily basis for 365 days a year (if the term of deposit is not less than two (2) years, 366 days in case of a leap year). (2) SMBC Trust Bank shall pay the interest due together with the principal on the maturity date. However, the interest on deposits with a term of two (2) years shall be paid as follows: ① The interim interest amount due on the date twelve (12) months from the date of deposit (the "Interim Interest Payment Date"), calculated by multiplying seventy percent (70%) of the Contracted Rate by the number of days from the date of deposit until the day before the Interim Interest Payment Date (the "Interim Interest"), shall be paid as part of the interest as of the Interim Interest Payment Date. The Interim Interest shall be credited to a Yen account. ② SMBC Trust Bank shall pay the balance of the interest, minus the deducted Interim Interest together with the principal on the maturity date. If the Interim Interest has not been paid, SMBC Trust Bank shall pay the total amount of interest due on the maturity date. (3) In the event that cancellation before the maturity date is unavoidable, SMBC Trust Bank shall calculate interest due for the period from the date of deposit (in case of renewal, the latest renewal date) until the day said before the cancellation date based on 365 days a year at the following interest rate, and shall pay said interest to the Depositor together with the principal of said deposit. However, if the Interim Interest has already been paid, the difference between said payment amount and the amount of interest, calculated at the following rates, shall be settled. Contract Term Term Elapsed after Initial deposit Interest Rate All terms Less than 1 month XXXXXXX MultiMoney Yen Savings deposit rate Prevailing on the day of withdrawal 1 month and more 70% of "Contracted Rate" (4) Interest shall accrue in units of one Yen (JPY1). (5) The interest accrual method shall be simple interest.

Interest on the Deposit. If the Closing under this Agreement occurs, the Escrow Agent shall apply the Deposit and any interest earned thereon against the Purchase Price due Seller at Closing. In the event that this Agreement otherwise terminates, all interest earned on the Xxxxxxx Money shall be paid to the party entitled to receive such Deposit.

Interest on the Deposit. Any interest earned on the Deposit while held by Escrow Agent (and prior to release thereof to Seller) shall belong to Purchaser, and Purchaser may withdraw any such interest from time to time and, if not withdrawn by Purchaser, shall be included in the term “Deposit” as used below. If the transaction closes and Purchaser has not withdrawn such interest, then at Closing any interest earned on the Deposit shall be credited to Purchaser by applying the same against the Purchase Price. Notwithstanding anything contained in this Agreement, after release of the Deposit to Seller, Seller shall have no obligation to invest the Deposit and no interest or income earned on such Deposit while held by Seller shall belong to Purchaser or be applied against the Purchase Price.

Interest on the Deposit. Except as otherwise expressly provided herein, the interest earned on the Deposit (the “Accrued Interest”) shall be divided evenly between the Buyer and Seller at the Closing, or at such other time that the Deposit is paid pursuant to this Agreement, to the party receiving the Deposit. For all tax purposes, the Deposit shall be treated as equally owned by the Buyer and Seller (and their successors), so that all interest or other income earned from the investment of the Deposit before release to the party receiving the Deposit shall be considered for tax purposes to be income in equal parts of the Buyer and Seller (or their successors) and the Escrow Agent shall report such interest or other income consistently therewith.