Secondary Deposit definition

Secondary Deposit means the sum of Five Million and No/100 Dollars ($5,000,000.00), to the extent the same is deposited by Buyer in accordance with the terms of Section 3.1 hereof, together with any interest earned thereon.
Sample 1
Secondary Deposit has the meaning set forth in Section 3.3(b).
Sample 1
Secondary Deposit means an amount equal to Sixty-Two Thousand Five Hundred and No/100 Dollars ($62,500.00), in immediately available funds, to the extent the same is deposited by Buyer in accordance with the terms of Paragraph 3.1 hereof, together with any interest earned thereon. “Seller” shall mean the seller referenced in the first paragraph of this Agreement. “Seller Parties” shall mean and include, collectively, (a) Seller; (b) its counsel; (c) any direct or indirect owner of any beneficial interest in Seller, or any subsidiaries, parents or affiliates of Seller; (d) any officer, director, employee, affiliate, principal, partner, shareholder, representative or agent of Seller, its counsel or any direct or indirect owner of any beneficial interest in Seller or of any subsidiaries, parents or affiliates of Seller; and (e) any other entity or individual affiliated or related in any way to any of the foregoing, and their successors and assigns. “Seller’s knowledge” or words of similar import shall refer only to the actual knowledge of Xxxxx X. Xxxxx, Chief Administrative Officer, and Xxxx Xxxxxxxx, and shall not be construed to refer to the knowledge of any other Seller Party, or to impose or have imposed upon such individual any duty to investigate the matters to which such knowledge, or the absence thereof, pertains. There shall be no personal liability on the part of such individual arising out of any of the Seller’s Warranties. “Seller’s Liability Limit” shall mean an amount equal to the Purchase Price. “Seller’s Representatives” shall mean Seller’s officers, employees, agents, advisors, representatives, attorneys, accountants, consultants, investors, contractors, architects and engineers. “Seller’s Warranties” shall mean Seller’s representations and warranties set forth in Paragraph 8.1, as the same may be deemed modified or waived by Buyer pursuant to this Agreement. “SNDA” shall mean an agreement in the form attached hereto as Exhibit M. “Survey” shall mean an ALTA survey of the Property prepared by a surveyor licensed in the State in which the Property is located, to be certified to Seller and Buyer. “Survival Period” shall mean the first 180 days after Closing. ACTIVE 46014503v4
Sample 1

Examples of Secondary Deposit in a sentence

  • Notwithstanding any provision in this Agreement to the contrary, if Buyer fails to timely make the Initial Deposit or the Secondary Deposit as provided herein, Seller may Terminate this Agreement by notice to Buyer given no later than five (5) days following the due date of the Initial Deposit or the Secondary Deposit, as the case may be, and any Deposit previously paid by Buyer shall be promptly returned to Buyer.

  • In addition, no later than the Due Diligence Deadline (provided that this Agreement is not sooner Terminated in accordance with the terms hereof), Buyer shall also make the Secondary Deposit.

  • In the event Buyer elects to proceed to Closing, Buyer will deliver the Secondary Deposit to the Escrow Agent within five (5) days as setforth above in Section 2(B) and upon deposit by the Escrow Agent the Secondary Deposit shall be non-refundable.

  • The Initial Deposit, the Secondary Deposit and the Extension Deposit (if applicable) shall be held in escrow by the Escrow Agent as a good faith deposit.

  • In addition, Buyer shall, no later than October 16, 2015, deposit the Secondary Deposit with Escrow Agent.

  • The Initial Deposit shall be fully refundable to Buyer if, on or before the Due Diligence Deadline, Buyer terminates this Agreement in accordance with Paragraph 4.4. In addition, no later than the Due Diligence Deadline (provided that this Agreement is not sooner Terminated in accordance with the terms hereof), Buyer shall make the Secondary Deposit.

  • In addition, no later than 5:00 p.m. Eastern Time on the last day of the Due Diligence Period (provided that this Agreement is not sooner terminated in accordance with the terms hereof), Buyer shall make the Secondary Deposit.


More Definitions of Secondary Deposit

Secondary Deposit means an amount equal to [__] Dollars ($[__]), in immediately available funds, to the extent the same is deposited by Buyer in accordance with the terms of Paragraph 3.1 hereof, together with any interest earned thereon.
Sample 1

Related to Secondary Deposit

  • Escrow Deposit has the meaning set forth in Section 3.3.

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

  • Transfer Deposit Amount has the meaning given to it in Section 2.02(b).

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

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

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • 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).

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

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

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Initial Reserve Account Deposit Amount means an amount equal to $1,554,404.20.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate Principal Balance of the Receivables on the Cutoff Date (which is equal to $21,505,439.97).

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

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • 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.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,653,198.45.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Deposit Amount is the amount GLAIC credits to the Accumulation Fund on the Deposit Date as set forth in the Accumulation Fund Schedule.

  • 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.

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

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

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • 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.

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