Retainage Deposit definition

Retainage Deposit has the meaning set forth in Section 1(b) above.
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Examples of Retainage Deposit in a sentence

  • In the event and to the extent that the Buyer or the Company may become obligated to pay after the Closing any Liability of the Company that accrued prior to the Closing, such amount shall be deducted from the Retainage Deposit pursuant to the terms of the Retainage Agreement.

  • Interest earned on the Retainage Deposit shall accrue to the benefit of the Seller, and, together with the principal amount of the Retainage Deposit, shall be payable to the Seller or the Buyer as provided in the Retainage Agreement.

  • The Retainage Deposit referenced in this Section 1(b)(ii) shall be placed in escrow with the Retainage Agent pursuant to an escrow agreement in the form attached hereto as Exhibit B (the "Retainage Agreement"), which requires that the Retainage Deposit shall be deposited by the Retainage Agent as provided in the Retainage Agreement.

  • Borrower acknowledges that its failure to deposit Retainage amounts into the Retainage Escrow Account or its failure to timely deliver a Retainage Deposit Notice for each payment to the general Contractor can result in substantial fines under Tennessee Code Annotated Section 60-00-000.

  • The Seller shall furnish the Buyer with a list of Funded Indebtedness which Buyer agrees to cause to be paid by the Company in full immediately following the Closing, whether any such indebtedness is due and owing on the Closing Date; provided, that, in no event shall the aggregate amount of the Funded Indebtedness exceed the Purchase Price less the Retainage Deposit, as defined in Section 1(b)(ii) below.

  • Once Lender has approved the amount of the proposed payment to the general Contractor and confirmed the current Retainage Amount and Retainage Escrow Account balance, Borrower shall be responsible for delivering the final completed Retainage Deposit Notice to the general Contractor.

  • In connection with each request for an Advance and each notice to Lender of a payment to the Contractor funded by Borrower’s equity, together with such other required supporting documentation for such payment, Borrower shall submit a current completed form Retainage Deposit Notice to Lender.

  • The Retainage Deposit referenced in this Section 1(ii) shall be placed in escrow with the Retainage Agreement pursuant to an escrow agreement in the form attached hereto as Exhibit B (the "Retainage Agreement"), which requires that the Retainage Deposit shall be deposited by the Retainage Agent as provided in the Retainage Agreement.

  • In the event and to the extent that the Buyer or the Company may become obligated to pay after the Closing any Liability for which the Buyer would be entitled to indemnification by the Seller under Section 8(b) of this Agreement, such amount shall be deducted from the Retainage Deposit pursuant to the terms of the Retainage Agreement.

Related to Retainage Deposit

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Retainage means that portion of the purchase price of an Export Order that a Buyer is not obligated to pay until the end of a specified period of time following the satisfactory performance under such Export Order.

  • Full Deposit will consist of data that reflects the state of the registry as of 00:00:00 UTC (Coordinated Universal Time) on the day that such Full Deposit is submitted to Escrow Agent.

  • Security Deposit means the deposit to be held by the owner as security for the due performance of the contractual obligations.

  • Initial Deposit shall have the meaning set forth in Section 2.5(a).

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Spread Account Initial Deposit means an amount equal to 3% of the aggregate principal balance of the Receivables on the Closing Date (which is equal to $26,373,696.22).

  • Direct Deposit Disbursement Requests for the Closing Disbursement(s) to be deposited into an account at Xxxxx Fargo Bank, N.A. must specify the amount and applicable account. Each account included in any such Disbursement Request must be listed below. Name on Deposit Account: Xxxxx Fargo Bank, N.A. Deposit Account Number: Further Credit Information/Instructions: Subsequent Disbursement Authorizers: Administrative Agent is authorized to accept one or more Disbursement Requests from any of the individuals named below (each, a “Subsequent Disbursement Authorizer”) to disburse Loan proceeds after the date of the Loan origination/closing and to initiate Disbursements in connection therewith (each, a “Subsequent Disbursement”): Individual’s Name Title 1.

  • Escrow Deposit has the meaning set forth in Section 2.1.

  • Security Deposits means all Tenant security deposits in the form of cash and letters of credit, if any, held by Seller, as landlord (together with any interest which has accrued thereon, but only to the extent such interest has accrued for the account of the Tenant).

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • special deposit means a deposit held other than at call on behalf of the Crown, or any local authority within the meaning of the Local Government Act 1974;

  • Xxxxxxx Money Deposit shall have the meaning set forth in Section 2.5(a).

  • Differential Deposit means data that reflects all transactions that were not reflected in the last previous Full or Differential Deposit, as the case may be. Each Differential Deposit will contain all database transactions since the previous Deposit was completed as of 00:00:00 UTC of each day, but Sunday. Differential Deposits must include complete Escrow Records as specified below that were not included or changed since the most recent full or Differential Deposit (i.e., newly added or modified domain names).

  • Term deposit means a deposit received by the bank for a fixed period withdrawable only after the expiry of the fixed period and includes deposits such as Recurring / Double Benefit Deposits / Short Deposits / Fixed Deposits /Monthly Income Certificate / Quarterly Income Certificate etc.

  • the Deposit means 10% of the Purchase Price;

  • Initial Deposit Amount means the Issuing Entity’s deposit to the Reserve Account, on or before the Closing Date, of $[•].

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Cash Deposit means a cash security deposit in U.S. dollars held by AT&T-21STATE.

  • Initial Reserve Account Deposit means $3,250,000.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Earnest Money Deposit (EMD) means Bid Security/ monetary or financial guarantee to be furnished by a tenderer along with its tender.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.