Common use of Stakeholder Clause in Contracts

Stakeholder. The parties acknowledge that the Stakeholder shall (subject as provided in clause 2.1) hold the Deposit as stakeholder for the benefit of both parties and is authorised to invest the Deposit on interest bearing deposit with a registered bank on such conditions as the Vendor nominates.

Stakeholder. The parties acknowledge that the Stakeholder shall must (subject as provided in clause 2.1) hold the Deposit as stakeholder for the benefit of both parties and is authorised to invest the Deposit (if paid in cash) through the Vendor's solicitor's trust account on interest bearing deposit with a registered bank on such conditions as the Vendor nominates.