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.

  • Borrower and Guarantor shall not allow the Equipment and any other Collateral to be moved outside of a Permitted Jurisdiction without providing at least ten (10) Business Days prior written notice thereof to Lender.

  • 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 6▇-▇▇-▇▇▇.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

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).