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.
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.”
Returned Deposits Any credit to your account for checks deposited using Mobile Deposit is provisional. If original checks deposited through Mobile Deposit are dishonored, rejected, returned unpaid by the drawee bank, or are rejected or returned by a clearing agent or collecting bank, for any reason, including, but not limited to, issues relating to the quality of the image, you agree that an original check will not be returned to you and that we may charge back the amount of the original check and provide you with an image of the original check, a paper reproduction of the original check, or a substitute check. You will reimburse us for all loss, cost, damage or expense caused by, or relating to, the processing of the returned item. Without our approval, you shall not attempt to deposit or otherwise negotiate an original check if it has been charged back to you. We may debit any of your accounts to obtain payment for any item that has been rejected or returned, for any adjustment related to such item or for any warranty claim related to such item, whether or not the rejection, return, adjustment or warranty claim was made timely.
SECURITY DEPOSIT A deposit (the "SECURITY DEPOSIT") in the form of cash or an unconditional, irrevocable $1,000,000.00 letter of credit issued by a national bank reasonably acceptable to LANDLORD, and in the form of EXHIBIT E attached hereto and incorporated herein by reference, shall be paid by TENANT within five (5) business days after execution of this Lease and shall be held by the holder of the first mortgage on the Building (the "SD HOLDER") without liability for interest and as security for the performance by TENANT of TENANT's covenants and obligations under this Lease, it being expressly understood that the Security Deposit shall not be considered an advance payment of rent or a measure of LANDLORD's damages in case of default by TENANT. The SD Holder shall provide TENANT with acknowledgement of the receipt thereof and shall from time to time, at TENANT's request, provide TENANT with information with respect to the status thereof. Notwithstanding the deposit of the Security Deposit with the SD Holder, LANDLORD shall retain all obligations with respect thereto set forth herein. In the event that cash is, at any time, held as the Security Deposit hereunder, the holder thereof shall hold such cash as trustee in a segregated account for the property for the benefit of the TENANT subject only to the terms and provisions of this Lease. Upon the occurrence of any Event of Default under this Lease by TENANT, LANDLORD may, from time to time, without prejudice to any other remedy and without prior notice, use such portion of the Security Deposit as is necessary to make good any arrearages of any installment of Basic Annual Rent, additional rents, or other amounts or charges payable by TENANT hereunder, or any other damage, injury, expense, or liability caused to LANDLORD by such breach or default. For draws by LANDLORD for damage, injury, expense or liability other than failure by TENANT to pay Basic Annual Rent or additional rents, LANDLORD will not draw an amount in excess of $100,000.00 without five (5) business days notice to TENANT specifying the amount of the intended draw. At any time LANDLORD is holding cash as the Security Deposit hereunder, TENANT shall have the right, in accordance with the terms hereof, to replace such cash with a letter of credit and upon such replacement, LANDLORD shall return the cash held to TENANT. If LANDLORD shall transfer its interest in the property, LANDLORD shall assign the Security Deposit to the transferee. At the end of every Lease Year, TENANT shall have the right to reduce the amount of cash by $100,000.00 or replace the letter of credit comprising the Security Deposit with a letter of credit in an amount reduced by $100,000.00, provided in either instance, at no time during the previous Lease Year has there been a Tenant Event of Default under this Lease. Following any application of the Security Deposit, if the Security Deposit is in the form of a letter of credit TENANT shall have issued to LANDLORD on demand a replacement letter of credit in the full amount of the letter of credit prior to LANDLORD's draw. Failure by TENANT to replace the letter of credit (i) in the full amount within ten (10) days of receipt by TENANT of notice of LANDLORD's draw or (ii) no later than five (5) days prior to the stated expiration date, shall, in either instance, be an Event of Default under this Lease, and in the case the event described in (ii) occurs, shall permit LANDLORD to draw the entire amount of the letter of credit. Any balance of the Security Deposit remaining at the end of the term shall be returned to TENANT within thirty (30) days after TENANT's compliance with each and every provision of Article 19 hereof. In the event TENANT exercises its option to acquire all or part of the tenth floor, TENANT shall increase the Security Deposit by $1,000,000.00 (subject to reduction as set forth in Section 32.1) at the time of exercise of the option, and thereafter the annual reduction of the total Security Deposit shall continue to be $100,000.00.
