Right to Use Purchasers’ Deposits Sample Clauses

Right to Use Purchasers’ Deposits. Seller reserves the right to use purchaser deposits held in escrow pursuant to binding sales contracts to pay for Luana costs. Disbursement of purchaser deposits prior to closing shall be permitted only if: (1) the Real Estate Commission has issued an effective date for the Public Report for Luana; (2) the Declaration and Bylaws have been filed with the Land Court and the Bureau; and (3) the following have been submitted to the Real Estate Commission: a Luana budget showing all costs required to be paid to complete Luana, evidence of sufficient funds to pay all costs required to be paid to complete Luana, and copies of the executed construction contract, building permit, and evidence of security for completion of construction, such as a completion or performance bond issued by a surety licensed in the State covering 100% of the cost of construction. In the event that Seller satisfies the above conditions and decides to disburse purchaser deposits prior to closing, Seller hereby provides the following notice to Buyer pursuant to Section 514B-92(d) of the Act: Important Notice Regarding Your Deposits: Deposits that you make under your sales contract for the purchase of the unit may be disbursed before closing of your purchase to pay for Luana costs, construction costs, Luana architectural, engineering, finance and legal fees, and other incidental expenses of Luana. While the developer has submitted satisfactory evidence that Luana should be completed, it is possible that Luana may not be completed. If your deposits are disbursed to pay Luana costs and Luana is not completed, there is a risk that your deposits will not be refunded to you. You should carefully consider this risk in deciding whether to proceed with your purchase.
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Related to Right to Use Purchasers’ Deposits

  • Direct Deposits The Credit Union may offer direct deposit options allowing you to preauthorize deposits (i.e., payroll checks, Social Security or retirement checks, or other government checks) or preauthorize transfers from other accounts at the Credit Union. You must authorize any direct deposits to your accounts by a separate authorization form. If applicable, you must notify the Credit Union at least thirty (30) days prior to any direct deposit or preauthorized transfer if you wish to cancel or change the direct deposit or direct transfer option. Upon a filing of a bankruptcy, if you fail to cancel any direct deposit authorization, you instruct your employer and the Credit Union to make and apply direct deposits in accordance with your authorization on file with the Credit Union. If the Credit Union is required to reimburse the U.S. Government for any benefit payment directly deposited into your account for any reason, you agree the Credit Union may deduct the amount returned from any of your accounts, unless prohibited by law.

  • Seller’s Deliveries At the Closing, Seller shall deliver to Buyer:

  • PURCHASER’S PROPERTY 6.1. Materials such as components, machinery, tools, models, moulds, jigs and fixtures, accessories or others which may bemade available to the Supplier by the Purchaser for the purposes of the Contract shall be under the Supplier's responsibility; the Supplier shall take out insurance against any damage that they might suffer and shall clearly mark them and record them as being the property of the Purchaser.

  • Deposit of Escrow Funds By its execution hereof, Recipient acknowledges that the deposit of the Escrow Funds into escrow with Escrow Agent does not confer any rights or claims to the Escrow Funds by Recipient unless all of the conditions in Section 2 above and the conditions as set forth in the Grant Agreement, have been satisfied.

  • Deposit of Escrow Securities in Escrow (1) You are depositing the securities (escrow securities) listed opposite your name in Schedule “A” with the Escrow Agent to be held in escrow under this Agreement. You will immediately deliver or cause to be delivered to the Escrow Agent any share certificates or other evidence of these securities which you have or which you may later receive.

  • Cash Deposits Within the limitations of this Subsection, Purchaser shall make cash deposits to meet Purchaser’s obligations within 15 days of billing by Forest Service. Deposits shall be made to Forest Service, U.S.D.A., by mail or delivery to the address to be fur- nished by Forest Service. Forest Service shall explain the bill at the time it requests each deposit.

  • Purchaser’s Default If Purchaser fails to consummate this transaction for any reason other than Seller’s intentional and willful default, failure of a condition to Purchaser’s obligation to close, or the exercise by Purchaser of an express right of termination granted herein, Seller shall be entitled, as its sole remedy hereunder, to terminate this Agreement and to receive and retain the Xxxxxxx Money as full liquidated damages for such default of Purchaser, the parties hereto acknowledging that it is impossible to estimate more precisely the damages which might be suffered by Seller upon Purchaser’s default, and that said Xxxxxxx Money is a reasonable estimate of Seller’s probable loss in the event of default by Purchaser. Seller’s retention of said Xxxxxxx Money is intended not as a penalty, but as full liquidated damages. The right to retain the Xxxxxxx Money as full liquidated damages is Seller’s sole and exclusive remedy in the event of default hereunder by Purchaser, and Seller hereby waives and releases any right to (and hereby covenants that it shall not) xxx the Purchaser: (a) for specific performance of this Agreement, or (b) to recover actual damages in excess of the Xxxxxxx Money. The foregoing liquidated damages provision shall not apply to or limit Purchaser’s liability for Purchaser’s obligations under Sections 3.1(b), 3.1(c), 3.7 and 10.1 of this Agreement. Purchaser hereby waives and releases any right to (and hereby covenants that it shall not) xxx Seller or seek or claim a refund of said Xxxxxxx Money (or any part thereof) on the grounds it is unreasonable in amount and exceeds Seller’s actual damages or that its retention by Seller constitutes a penalty and not agreed upon and reasonable liquidated damages.

  • Seller’s Obligations at Closing At Closing, Seller shall:

  • Seller For each Mortgage Loan, the seller of such Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement.

  • Purchase Price; Deposit (a) The purchase price for the Property is AND 00/100 DOLLARS ($ ) (the “Purchase Price”), payable as follows:

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