Modes of Deposit Sample Clauses

Modes of Deposit. The balance amount to make up the required Security Deposit of 3% of the contract value may be accepted in the following forms: a) Cash (as permissible under the extant Income Tax Act) b) Local Cheques of Scheduled Banks (subject to realization)/ Pay Order/ Demand Draft/ Electronic Fund Transfer in favour of BHEL. c) Bank Guarantee from Scheduled Banks/ Public Financial Institutions as defined in the company’s act. The bank guarantee format should have the approval of BHEL. d) Fixed Deposit Receipt issued by Scheduled Banks/ Public Financial Institutions as defined in the company’s act (FDR should be in the name of the contractor, a/c BHEL. e) Securities available from Indian Post offices such as National Savings Certificates, Kisan Xxxxx Xxxxxx etc. (held in the name of Contractor furnishing the security and duly endorsed/ hypothecated/ pledged, as applicable, in favour of BHEL) (Note: BHEL will not be liable or responsible in any manner for the collection of interest or renewal of the documents or in any other matter connected therewith)
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Modes of Deposit. The balance amount to make up the required Security Deposit may be accepted in the following forms:
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Modes of Deposit. The balance amount to make up the required Security Deposit of 5% of the contract value may be accepted in the following forms: a) Cash (as permissible under the extant Income Tax Act) b) Local Cheques of Scheduled Banks (subject to realization)/ Pay Order/ Demand Draft/ Electronic Fund Transfer in favour of BHEL. c) Bank Guarantee from Scheduled Banks/ Public Financial Institutions as defined in the company9s act. The bank guarantee format should have the approval of BHEL. d) Fixed Deposit Receipt issued by Scheduled Banks/ Public Financial Institutions as defined in the company9s act (FDR should be in the name of the contractor, a/c BHEL. e) Insurance Surety Bonds (Note: BHEL will not be liable or responsible in any manner for the collection of interest or renewal of the documents or in any other matter connected therewith)
Sample 1

Related to Modes of Deposit

  • 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)

  • Payment of Deposits In the event any depositor does not accept the obligation of the Assuming Institution to pay any Deposit liability of the Failed Bank assumed by the Assuming Institution pursuant to this Agreement and asserts a claim against the Receiver for all or any portion of any such Deposit liability, the Assuming Institution agrees on demand to provide to the Receiver funds sufficient to pay such claim in an amount not in excess of the Deposit liability reflected on the books of the Assuming Institution at the time such claim is made. Upon payment by the Assuming Institution to the Receiver of such amount, the Assuming Institution shall be discharged from any further obligation under this Agreement to pay to any such depositor the amount of such Deposit liability paid to the Receiver.

  • 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

  • Xxxxxxx Money Deposit (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.” (b) The Xxxxxxx Money Deposit shall be held by Escrow Agent subject to the terms and conditions of an Escrow Agreement dated as of the date of this Contract entered into by Seller, Buyer and Escrow Agent (the “Escrow Agreement”). The Xxxxxxx Money Deposit shall be held in an interest-bearing account in a federally insured bank or savings institution reasonably acceptable to Seller and Buyer, with all interest to accrue to the benefit of the party entitled to receive it and to be reportable by such party for income tax purposes; provided, however, to the extent that Buyer instructs the Escrow Agent to apply the Xxxxxxx Money Deposit toward the Purchase Price in accordance with Section 2.4, interest shall be deemed to have accrued to the benefit of Buyer and be reportable by Buyer for income tax purposes.

  • Mobile Deposit The Mobile Deposit feature enables you to use a software application together with your Wireless Access Device to create electronic images of the front and back of certain Original Checks (defined below) and transmit those images and other information, including, without limitation, information captured from the magnetic ink character recognition (“MICR”) line, to us for review and processing in accordance with this Agreement.

  • Direct Deposit If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (000) 000-0000. This does not apply to transactions occurring outside the United States.

  • 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 State law.

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