Minimum Deposit. If the Borrowers shall fail to maintain with the Bank during any calendar quarter non-interest bearing deposits having net collected balances, after charges to compensate Bank for services rendered to Borrowers, of an aggregate amount of $250,000, the Borrowers shall pay to the Bank a fee equal to the amount of such deficit multiplied by a rate per annum equal to the sum of the average daily Wall Street Journal Prime Rate plus 3.00%.
Minimum Deposit. Buyer has delivered to the Escrow Agent the Minimum Deposit in immediately available funds pursuant to the Escrow Agreement. The Minimum Deposit shall not be subject to any lien, attachment, trustee process, or any other judicial process of any creditor of any Seller or Buyer. The Parties shall instruct the Escrow Agent to distribute the Minimum Deposit to Sellers at the Closing (which amount shall be deducted from the Purchase Price due and payable by Buyer at the Closing), or, if this Agreement is terminated, treated in the manner set forth in Section 11.2 and the Escrow Agreement. All fees associated with the Escrow Agreement shall be borne by Buyer.
Minimum Deposit. RJK may require that Customer pay a deposit in a specified amount prior to commencing work, with the balance due upon completion. Except as otherwise approved by RJK management, no jobs will be scheduled and/or commenced without a deposit.
Minimum Deposit. The Borrower shall maintain with Bank average collected demand deposit balances equal to $50,000.00 (the "Minimum Deposit"). Furthermore, if the Borrower does not maintain the Minimum Deposit, Borrower shall pay to Bank, on a quarterly basis, a deficiency fee equal to the Contract Rate plus three percent (3.0%) multiplied by the difference between (i) Borrower's actual average collected balances maintained with the Bank during such period and (ii) the Minimum Deposit. The Borrower shall maintain its main operating account and all other business accounts with the Bank.
Minimum Deposit. Buyer has delivered the Minimum Deposit to the Company in immediately available funds to be held in escrow. The Minimum Deposit shall not be subject to any lien, attachment, trustee process, or any other judicial process of any creditor of any Seller or Buyer. The Minimum Deposit shall be retained by the Company at the Closing for payment to the Agent pursuant to Section 3.3(b) below (and deducted from the Purchase Price due and payable at the Closing) or, if this Agreement is terminated, treated in the manner set forth in Section 11.3(b).
Minimum Deposit. The minimum initial deposit required for each term until its maturity is five hundred dollars ($500).
Minimum Deposit. During the Deposit Term (as defined below) First American agrees to cause First American Exchange Company LLC ("FAEC") to establish and maintain at Matrix Capital Bank, an Affiliate of MAMC (the "Bank"), a "money market deposit account" within the meaning of 12 CFR 204.2 (the "First American MMA") (12 CFR Part 204, as such may be amended from time to time, is referred to herein as "Regulation D"). First American further agrees to cause FAEC to maintain in such First American MMA a minimum of $25 million, until the earliest to occur of (a) the Put Closing Date (as defined in the Operating Agreement), (b) the Call Closing Date (as defined in the Operating Agreement), (c) a Change-in-Control of the Bank, (d) a Solvency Event or (e) a Legal Change (the "Deposit Term"). First American hereby represents and warrants to MAMC and Matrix that the First American MMA shall at all times meet the requirements for a "money market deposit account" within the meaning of Regulation D, including without limitation the limitation on number of transactions per month requirements set forth in 12 CFR 204.2(d)
(1). Matrix and MAMC shall cause the Bank to pay to FAEC, as consideration for the deposits held by FAEC in the First American MMA, on the funds deposited into the First American MMA, an amount equal to the "Interest Amount" (as defined below). For purposes hereof the term "Interest Amount" shall mean, for any given calendar day, (A) the average collected daily balance in such First American MMA for the calendar day in question multiplied by (B) the "LIBOR Daily Rate". The term "LIBOR Daily Rate" shall mean (A) 3-month LIBOR (London interbank offered rate) as published in the Money Rates section of the Wall Street Journal Online for the last Business Day of the calendar month immediately proceeding the calendar day for which the calculation is being made divided by (B) 365. Any Interest Amounts due and owing to FAEC hereunder for the calendar days of a particular month shall be paid FAEC on the last Business Day of such month. The Bank and FAEC shall each be a third party beneficiary in respect of all representation, warranties and covenants of First American and Matrix and MAMC, respectively, under this Section 5.11.
Minimum Deposit. Borrower and related entities shall at all times maintain the following minimum deposit with Lender in the amount of $5,000,000.00. If Borrower fails to maintain the minimum deposit amounts for the applicable periods stated herein, Borrower may cure this violation by depositing such amounts required to bring the minimum deposit into compliance within 20 days from the date of such violation.
Minimum Deposit. Buyer has delivered to the Escrow Agent the Minimum Deposit in immediately available funds pursuant to the Escrow Agreement. The Minimum Deposit shall not be subject to any lien, attachment, trustee process, or any other judicial process of any creditor of any Seller or Buyer. The Minimum Deposit shall be retained by Sellers at the Closing (and deducted from the Purchase Price due and payable at the Closing), or if this Agreement is terminated, treated in the manner set forth in Section 11.2. All costs associated with the Escrow Agreement shall be borne by Buyer. Closing Date Payments . At the Closing, (a) Buyer shall pay to Sellers cash by wire transfer of immediately available funds in an amount equal to the Cash Consideration minus the Minimum Deposit and (b) Sellers shall direct the Escrow Agent to indefeasibly transfer the Minimum Deposit to an account designated by Sellers.
Minimum Deposit. With respect to the Premier Account, the Bank may require the Customer to deposit, within the period designated by the Bank, more than the amount designated by the Bank into the Premier Account and maintain the same.
