Proof of Funds Sample Clauses
Proof of Funds. Buyer shall provide the following within three (3) days after the Time Reference Date in Paragraph 9:
a. A letter of financial capabilities from a banking institution on bank letter head verifying that Buyer has the necessary cash or line of credit in an amount equal to or in excess of the Purchase Price herein.
b. A copy of a Bank Statement showing sufficient funds to fulfill the Buyer’s obligations of this Contract.
c. Buyer hereby gives permission to the Seller and the Seller’s Broker, if applicable, or representatives to contact the banking institution providing the letter of financial capabilities or the financial institution shown on the copy of a Bank Statement, to verify said information.
Proof of Funds. Buyer has already or shall provide to Xxxxx within one (1) day of the Effective Date, in conjunction with Buyer’s bid, proof of committed funds available to Buyer sufficient to enable Buyer to consummate the acquisition of the Property pursuant to this Agreement, which proof shall be in the form of a letter of credit, loan commitment, bank statement, or other form acceptable to Seller in Seller’s sole discretion. If (i) Buyer fails timely to provide such proof of committed funds, or (ii) Seller determines, in Seller’s sole discretion, that the proof of funds provided to Seller by Buyer is unacceptable, then Seller shall have the right, at Seller’s option, to provide written notice to Buyer that this Agreement is terminated. If Seller exercises such termination right, then this Agreement shall be deemed terminated effective as of the date that Seller delivers written notice of termination to Buyer, whereupon (I) the Deposit (if theretofore deposited with the Escrow Holder), less the Registration Deposit, shall be returned to Buyer, and
Proof of Funds. JV PARTNER shall supply MP with a POF (proof of funds) that provides evidence of the capital to be used if JV Partner intends on participating with capital as well as credit.
Proof of Funds. Within three (3) business days of being requested by Seller, Buyer agrees to provide written evidence from a bona fide financial institution of sufficient cash available to complete this purchase. If Buyer does not submit the written evidence within the time period set forth above, Seller shall have the right to terminate this Agreement. In the event that Seller exercises such right to terminate this Agreement pursuant to this Section, the Deposit shall be released to Buyer and neither party shall have any further obligation to the other party under this Agreement (except as expressly set forth in this Agreement).
Proof of Funds. Gold-Ore Owner shall provide Trust with proof of funds equal to the total Initial Gold Purchase Payment for the Physical Ounces of Gold Purchased upon Gold-Ore Owner’s execution of this Gold-Ore Purchase Agreement.
Proof of Funds. Buyer furnished, with the sealed bid, a letter of prequalification or preapproval from a lending institute for no less than the full purchase price minus the down payment. Buyer furnished, with the sealed bid, a statement from a financial institution as proof of available funds for the full purchase price.
Proof of Funds. If at any time or from time to time Owner reasonably believes that based on the progress of the Work and Cost of the Work that at any point the Work cannot be completed for the Guaranteed Maximum Price, Owner shall have the right to require Contractor to provide Owner with satisfactory evidence of funds available to Contractor to pay any anticipated overage. Prior to Owner exercising any rights under this Section, Owner shall first provide written notice to Contractor requesting satisfactory evidence of available funds and shall include in the request a) the reasons for Owner’s belief that the Work cannot be completed for the Guaranteed Maximum Price and b) the method and manner by which Owner calculates the anticipated overage. Contractor shall, within ten (10) days following receipt of this written notice from Owner, provide Owner with either i) evidence reasonably satisfactory to Owner that the Work can be completed within the Guaranteed Maximum Price and the basis upon which Contractor believes this to be accurate or ii) satisfactory evidence of funds available to make up any anticipated overage. If Owner, after reviewing the evidence submitted by Contractor pursuant to paragraph i) herein, still reasonably believes that the Work cannot be completed for the Guaranteed Maximum Price, then Owner shall have the right to notify Contractor in writing of Owner’s determination thereof and Contractor shall, within five (5) days of receipt of Owner’s written notice of this determination, provide Owner with satisfactory evidence of funds available to pay any anticipated overage as described in Owner’s initial request for proof of funds. Contractor’s failure to timely provide such satisfactory evidence to Owner of available funds shall constitute a default under this Agreement.
Proof of Funds. SMGI agrees to promptly provide the Company with proof of availability of funds to purchase the Preferred Shares as the Company may reasonably request.
Proof of Funds. The Contractor shall, within five (5) days of receipt of any request by Owner or Owner’s Lenders therefor, provide Owner and Owner’s Lenders with evidence satisfactory to Owner’s Lenders that (i) based on the progress of the Work and Cost of the Work already incurred, the remaining Work can be completed for the Guaranteed Maximum Price, or (ii) sufficient funds are available to Contractor (directly, or through any of the Guarantors) to pay any anticipated overage.
Proof of Funds. If requested by Seller, within two (2) business days following the Effective Date, Buyer shall deliver to Seller proof of committed funds available to Buyer sufficient to enable Buyer to consummate the acquisition of the Loans pursuant to this Agreement, which proof shall be in the form of a letter of credit, loan commitment, bank statement, or other form acceptable to Seller in Seller’s sole discretion. If (i) Buyer fails timely to provide such proof of committed funds, or (ii) Seller determines, in Seller’s sole discretion, that the proof of funds provided to Seller by Buyer is unacceptable, then Seller shall have the right, at Seller’s option, to provide written notice to Buyer that this Agreement is terminated. If Seller exercises such termination right, then this Agreement shall be deemed terminated effective as of the date that Seller delivers written notice of termination to Buyer, whereupon (I) the Deposit (if theretofore deposited with the Escrow Holder), less the Registration Deposit, shall be returned to Buyer, and (II) Buyer and Seller shall each be relieved of any further obligations under this Agreement.