Substitution Deposit Sample Clauses

A Substitution Deposit clause outlines the conditions under which a party may provide a replacement deposit in lieu of an original security deposit. Typically, this allows a tenant or contracting party to substitute a new form of deposit—such as a bank guarantee or a different cash deposit—if certain criteria are met, like maintaining the same value and terms as the original. The core function of this clause is to offer flexibility in how security is provided, ensuring that the interests of the party holding the deposit are protected while accommodating changes in the depositor's circumstances or preferences.
Substitution Deposit 
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Related to Substitution Deposit

  • Reservation Deposit A deposit totaling 35% of the agreed upon total amount is due with acceptance of rental agreement. Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by major credit card service offered by WPVP at time of reservation. We accept VISA or MASTERCARD.

  • Additional Security Deposit No additional security deposit shall be required in connection with this Amendment.

  • Cash Deposit No cash will be deposited into the certificate account on the closing date.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.