Examples of Second Deposit in a sentence
As used in this Contract, “Deposit” shall refer collectively to the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any.
Purchaser’s failure to pay either the Initial Xxxxxxx Money or the Second Deposit on the applicable date shall constitute a material default by Purchaser under Section 14 below.
The First Deposit and the Second Deposit, together with all interest earned on such sums, are herein referred to collectively as the “Xxxxxxx Money.” All interest accruing on such sums shall become a part of the Xxxxxxx Money and shall be distributed as Xxxxxxx Money in accordance with the terms of this Agreement.
Under the First Deposit Agreement dated 31.03.2017 (First Deposit), the Financial Creditor had agreed to advance an amount of Rs. 2,30,00,00,000/- to the Corporate Debtor and under the Second Deposit Agreement dated 27.10.2017 (Second Deposit), the Financial Creditor had agreed to advance an amount of Rs. 2,77,00,00,000/- to the Corporate Debtor.
If Buyer fails to proceed with the Closing in accordance with the requirements of this Agreement after Buyer exercises its option to extend the Closing Date, the Second Deposit (including any interest earnings) shall be paid to Seller by Escrow Holder.