Treatment of Deposit Sample Clauses

Treatment of Deposit. The Deposit shall be paid to Sellers upon cancellation of the Escrow as a result of a Buyer Default. The Deposit shall be returned to Buyer upon cancellation of the Escrow pursuant to Sections 6.1, 14.1, or 16. 1. In all other events, the Deposit shall be applied as specified in this Agreement.

Treatment of Deposit. The Parties hereto acknowledge that the Prior Share Purchase Agreements contemplated that in the event that for any reason the acquisition of ABS contemplated by the Prior Share Purchase Agreements was not consummated, the Seller would be obligated to refund to Elegance the full amount of the Deposit. In furtherance of the foregoing, the Parties hereto do hereby agree as follows: 2.1 The Seller hereby commits to return the $1,462,500 balance of the Deposit to Elegance in the manner provided in this Section 2.1 (the “Deposit Repayment”). Elegance hereby agrees to treat the amount of the $1,462,500 Deposit as a potential of up-to $1,462,500 advance and repayment commitment by the Seller through ABS by discounts on anticipated Purchase Orders it may provide to ABS in connection with Elegance’s purchases of Covered Products in 2021. As Purchase Orders are issued to ABS by Elegance under this Agreement, the Purchase Orders must be accepted by ABS and any Deposit Repayment amount must be approved by the Seller. Subject to such acceptance by ABS and approval by the Seller, at the time ABS issues an invoice to Elegance, twenty-five percent (25%) of the applicable Prices for the Covered Products as set forth in each Elegance Purchase Order and ABS invoice shall be deemed to be a credit granted to Elegance in respect of such purchases of Covered Products (the “Earned Credit”) and such Earned Credit shall reduce by a corresponding dollar amount the Deposit Amount. By their execution of this Agreement, ABS and the Seller each agree to treat the Deposit paid to the ABS Shareholder under the Prior Share Purchase Agreement as a prepayment and Earned Credit against Elegance’s purchases of Covered Products in 2021. For example, if Elegance purchases from ABS $800,000 of Covered Products, the $1,462,500 balance of the Deposit shall be deemed to have been reduced by $200,000, which shall be the repayment amount applicable to such invoice. 2.2 Notwithstanding anything to the contrary express or implied, contained in the Prior Share Purchase Agreement and in Section 2.1 above, in the event that the remaining Deposit balance of $1,462,500 is not repaid via Covered Products discounts as set out in Section 2.1by the close of business (Pacific time) on December 31, 2021, the Seller shall immediately pay to Elegance in cash by wire transfer of immediately available funds, the difference between (a) $1,462,500 less any further amounts returned to Elegance by the Seller, and (b) the ...

Treatment of Deposit. From the date of the expiration of the Waiting Period through and including the Closing Date, Seller shall be entitled to Deposit Withdrawals in the amounts set forth in Section 3(b) above, to pay for third-party expenses incurred by Seller for general design, planning, and construction of capital improvements to the Xxxxxx River Park in Community Board 4 to be funded with the Purchase Price. With respect to all demands by Seller to the Escrow Agent for Deposit Withdrawals, Seller shall have the right to an immediate disbursement by Escrow Agent from the Deposit upon the Seller’s submission to Escrow Agent of: (a) a certification by a duly authorized officer of the Seller of the expenses incurred by Seller for which the Seller seeks payment or reimbursement, and (b) copies of invoices or receipts evidencing such expenses. Seller shall provide to Purchaser a copy of Seller’s proposed certification and copies of such receipts or invoices not less than five (5) business days prior to the submission thereof to Escrow Agent. Should Purchaser request a correction (which correction shall be limited to that of mathematical error) of any demand for payment by the Seller during such five (5) business day period, the Seller shall in good faith consider such request and either (x) modify or correct its demand for payment, or (y) not modify or correct its demand for payment and instead respond to Purchaser setting forth reasons why it is not willing to modify or correct its demand for payment. The obligation of Escrow Agent to disburse funds from the Deposit for any expenses, and the protocol and procedure for effecting same, is as set forth in the Escrow Agreement.

Treatment of Deposit. The Deposit shall be fully refundable to Bosa until such time as all conditions precedent described in Section 2 have been fully satisfied. Thereafter, the Deposit shall be deemed “at risk” and, pursuant to Section 29 below, shall be the liquidated measure of damages for Bosa’s default in its obligations to purchase the Property on the terms and conditions stated herein.

Treatment of Deposit. Buyer acknowledges that the Deposit is non-refundable to Buyer except as specifically set forth in this Section 5.1(c). The Deposit shall be paid to Seller as liquidated damages upon any cancellation of the Escrow except due to a termination pursuant to Sections 6.2(c), (d), (e), (o) and (v), Section 7.1, Section 9.2, Section 13.9, Section 15.1, or Sections 17.1(a), (c) or (d). The Deposit shall not be refundable to Buyer for any reason other than a termination by Buyer pursuant to Sections 6.2(c),(d), (e), (o) and (v), Section 7.1, Section 9.2, Section 13.9, Section 15.1, or Sections 17.1(a), (c) or (d).

Treatment of Deposit. Each of the Parties hereby that, upon a termination pursuant to Section 8.1, the Deposit shall be treated as follows: (a) in the event the Agreement is terminated pursuant to Section 8.1(a) or Section 8.1(b), the Deposit shall be returned in full to the Purchaser; (b) in the event the Agreement is terminated pursuant to Section 8.1(c), the Deposit shall be returned in full to the Purchaser less $50,000 which shall be retained by the Vendors.

Treatment of Deposit. (a) Upon the Closing, the Seller shall credit the Deposit toward the Purchase Price. (b) Upon a termination of this Agreement pursuant to Section 7.5(a), Section 7.5(b), Section 7.5(c), Section 7.5(d), Section 7.5(e), Section 7.5(f), Section 7.5(g), Section 7.5(h) or Section 7.5(i), the Deposit shall be released to the Purchaser within 5 days of such termination and the Seller shall have no further rights to the Deposit. (c) Upon a termination of this Agreement by Seller pursuant to Section 7.5(i), the Deposit shall be released to Seller and Purchaser shall have no further rights to the Deposit.

Treatment of Deposit. Subject to the other provisions of this Section 3.3(b), the Deposit shall be applied to the Purchase Price. The Deposit shall be paid to Seller as liquidated damages upon cancellation of the Escrow by Seller following a Buyer Default. Pursuant to Article 14 below, the Deposit shall be returned to Buyer upon cancellation of the Escrow by Buyer (a) pursuant to Section 4.7(a) following a Seller Default, (b) following Buyer’s election to terminate this Agreement due to a condition to Buyer’s obligations under this Agreement as set forth in Section 12.1 not being satisfied prior to the Closing or (c) following the termination of this Agreement pursuant to Section 13.2, 13.3 or 13.4.

Treatment of Deposit. In connection with the mutual execution and delivery of this Agreement, an amount equal to the Deposit (plus the Escrow Interest (as defined in the Escrow Agreement) as of the date of payment) shall be payable to First Reserve by Dresser. Such amount shall be paid in immediately available funds by wire transfer to such bank account as designated in advance by First Reserve.

Treatment of Deposit. The Deposit shall be applied to the Purchase Price in the event that the Closing takes place at the time and in the manner provided in this Agreement. The