Construction Deposit means the security deposit to be submitted by the Tenant or by the Tenant’s Contractor, prior to the commencement of construction, to be held in a non-interest bearing account until such time as the required closeout documents are received to the satisfaction of the Landlord.

Examples of Construction Deposit in a sentence

The amount for which the Borrower can invoke set-off or defences may, depending on the circumstances, exceed the amount of the Construction Deposit.
The Construction Deposit is not refundable regardless of whether the Buyer’s mortgage loan is approved or not approved as provided in Paragraph 4 B above.
This non-refundable Construction Deposit is not subject to the provisions of Paragraph 4 B of this Agreement.
If Buyer fails to make a Construction Deposit as required under this section within five (5) business days of accepted agreement, Seller may terminate this agreement and retain all monies deposited with Seller and/or escrow agent as liquidated damages.
If this happens, a Borrower may be allowed to set-off his receivable in respect of the Construction Deposit against the related Transferred Receivable.

More Definitions of Construction Deposit

Construction Deposit has the meaning set forth in Section 17.1.5.

Construction Deposit shall have the meaning ascribed to it in Article 5.1.

Construction Deposit. Tenant shall pay Landlord the sum of Ten Thousand Dollars ($10,000.00) in cash upon execution of this Lease as security to Landlord for Landlord’s construction costs incurred in preparing the Premises for Tenant’s occupancy. If Tenant defaults under this Lease, Landlord may apply these funds to offset Landlord’s construction costs. The Construction Deposit shall be returned to Tenant upon completion of all Tenant’s Work in accordance with the approved Construction Documents, provided Tenant owes no amounts to Landlord in connection with the construction. If during construction, amounts are withdrawn from the construction deposit for reasons described above, the Tenant shall promptly replenish the deposit.

Construction Deposit means Construction Damage and Completion Deposit.

Construction Deposit means in relation to a Mortgage Loan, that part of the Convertibility Event means the (indirect or direct) determination by the Cost Cap means 0.30 per cent. multiplied by the aggregate

Construction Deposit means in relation to a Mortgage Loan, that part of the Mortgage Loan which the relevant Borrower requested to be disbursed into a blocked account held in his name with the Originator, the proceeds of which can only be applied towards construction of, or improvements to, the relevant Mortgaged Asset. "Convertibility Event" means the (indirect or direct) determination by the national government of the country in the currency of which the Covered Bonds were issued, or in respect of the euro the Netherlands, that such currency is substituted by another currency. "Cost Cap" means 0.30 per cent. multiplied by the aggregate Outstanding Principal Amount less all amounts paid or to be paid (i) in accordance with the items (a) up to and including (d) of the CBC Priority of Payments as set out in Clause 13.1 of the Trust Deed, excluding the Additional Fees or (ii) in accordance with items (a) up to an including (c) of the Post CBC Acceleration Notice Priority of Payments as set out in Clause 14.1 of the Trust Deed, excluding the Additional Fees.