Required Deposits. Deposits may be required to pay for brush disposal (16 U.S.C. 490) and road maintenance (16 U.S.C. 537), erosion control, etc.
Required Deposits. An agreement to es- tablish a capital construction fund shall provide for the deposit in the fund of the amounts agreed to be appropriate to provide for qualified withdrawals under section 53509 of this title.
Required Deposits. (a) It is agreed between the Chargor and the Bank in relation to each of the Credits that:-
(i) it is a prior condition to the establishment of any Credit pursuant to an Agreement that there should first have been deposited with Citibank, N.A. (the "Custodian") at their branch at Citigroup Centre, Canada Square, Cxxxxx Xxxxx, Xxxxxx X00 0XX (or such other branch as may be advised to the Chargor by the Bank for such purpose) in an account in the Chargor’s name designated as a "Reinsurance Deposit Account" and/or such other designation(s) as may be agreed between the Chargor and the Bank and notified by the Bank to the Custodian (referred to herein as an "Account") a deposit:-
(1) in an amount in the same currency as such Credit and at least equal to 100% of the face value of such Credit (or such other percentage as may be agreed between the Chargor and the Bank in writing for this purpose); and/or
(2) in an amount in the currency(ies) and of the percentage all as required by the alternative arrangements set out in Schedule Two hereto but subject to the limitation(s) (if any) therein referred to (or as the same may from time to time hereafter be amended or substituted), and, in either case, the balance from time to time standing to the credit of any such Account (the "Reinsurance Deposit") to be subject to the security hereby constituted and to be applied on the terms and conditions herein set forth;
(ii) so long as the Chargor is under any actual or contingent liability pursuant to any Agreement, the Chargor shall be entitled, upon request, to require the Bank to release from the security hereby constituted only that part of a Reinsurance Deposit which is in excess of the amounts required by Clause 3(a)(i)(1) and (2); provided, however, that the Chargor shall not be entitled to request any such release if an Event of Default has occurred and is continuing. Bank hereby agrees that, promptly (and in any event within 2 Business Days) following receipt of the Chargor’s request therefor, it shall notify the Custodian of its consent to any such release;
(iii) the Chargor shall be entitled to receive any interest which may accrue on each Reinsurance Deposit, provided, however, that if an Event of Default has occurred and is continuing, then such interest shall be paid only to the credit of the relevant Account and such interest shall form part of the Reinsurance Deposit in question;
(iv) if at any time, acting reasonably, the Bank determines that the amount of any...
Required Deposits. 2 3.03. Application of Funds in the Program Collection Account.................................................. 3 3.04. Investment of Funds Deposited in Program Collection Account.................................................. 6 3.05. Program Collection Account CDSC Sub-Accounts............... 7
Required Deposits. 64 SECTION 3.3. Adjustments to Reserve Accounts ........................................................................ 66 SECTION 3.4. Disbursements from the Reserve Accounts .......................................................... 66 SECTION 3.5.
Required Deposits. Borrower and each other Credit Party will, upon request of Lender, deposit with Lender an amount sufficient to pay the insurance premiums, which amount shall be held in an escrow account. Lender shall not require the foregoing escrow so long as such insurance premiums are paid when due, evidence of such payment is provided to Lender and there is no Default by Borrower hereunder.
Required Deposits. Until the Maturity Date Borrower will maintain ----------------- Eligible Balances of at least $6,500,000. For any period in which such Eligible Balances are not kept, Borrower, as Bank's sole and exclusive remedy therefor, will pay a fee calculated at a rate of one percent (1%) per annum, calculated based on the difference between the minimum Eligible Balance requirement and the actual average daily Eligible Balances during the period. The fee will be calculated quarterly and will be due within 15 days of each quarter end.
Required Deposits. Notwithstanding any reserve deposit requirement imposed by other funders, LHC will require deposits to the Replacement Reserve Account to address future capital replacement requirements as follows:
1. For New Construction Developments: an Initial Deposit of $1,000 per unit from Development Sources; plus, an Annual Deposit of $500 per unit per year, from Operations.
2. For Acquisition-Rehab Developments: an Initial Deposit from Development Sources corresponding with the determinations of the required Physical Condition Assessment (“PCA”); plus an Annual Deposit to the Replacement Reserve corresponding with the determinations of the PCA.
3. Annual deposits to the reserves shall be inflated by 2% annually.
Required Deposits. Buyer shall on or before the third day following the Signing Date, deposit with Michener, Larimore, Swindle, Whitaker, Flowers, Sawyer, Xxxxxxxx & Chalk, L.L.P., counsel to Sellers, the sum of $100,000.00 (the "Initial Xxxxxxx Money Deposit") pursuant to and to be governed by the Xxxxxxx Money Deposit Agreement substantially in the form of APPENDIX 4.1 hereto (the "Xxxxxxx Money Deposit Agreement"). Subject to the terms of the Xxxxxxx Money Deposit Agreement and this Agreement Buyer may extend the closing of the purchase of the Acquired Assets for up to an additional 30 days past the Scheduled Closing Date upon the payment of $50,000 as an additional xxxxxxx money deposit, and thereafter extend the closing of the purchase of the Acquired Assets for up to a further 30 day period upon the payment of $100,000 as an additional xxxxxxx money deposit (each, a "Supplemental Xxxxxxx Money Deposit") (the Initial Xxxxxxx Money Deposit and Supplemental Xxxxxxx Money Deposit, whether one or more, are referred to herein collectively as, the "Xxxxxxx Money Deposit"). Each Supplemental Xxxxxxx Money Deposit shall be governed by the Xxxxxxx Money Deposit Agreement.
Required Deposits. If there are insufficient funds in the Central Account for the deposits required by Sections 7.3(A)(i)-(v) or Section 7.3(A)(i)-(vi), as applicable, on or before the Payment Date when due, Borrowers shall deposit such deficiency into the Central Account on or before such Payment Date. Borrowers shall in all events be required to pay when due hereunder the Monthly Debt Service Payments, any required monthly deposits into Reserves and all other amounts due under this Loan Agreement and the other Loan Documents. Borrowers shall not be liable or obligated hereunder or under the other Loan Documents to make deposits into the Mezzanine Collection Account in the event of any insufficiency of funds in the Central Account, and while a failure by the Sole Member to fund amounts into the Mezzanine Collection Account may constitute a default under the Mezzanine Loan Documents, such failure shall not in and of itself constitute a Default by Borrowers under this Loan Agreement.
