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Deposit
Deposit contract clause examples

Deposit Accounts. On the date hereof, Borrower shall establish, and during the term of the Loan and so long as any part thereof is outstanding, Borrower shall maintain, a depository account and relationship with Lender. In the event that Borrower shall fail to establish and/or maintain such depository account and relationship, such failure shall constitute an Event of Default.

Deposit. Client shall pay the first and last months’ Hosting Fee within three (3) calendar days of the Effective Date. Client shall also render payment for a

Deposit. The Seller, the Purchaser and the Escrow Agent have entered into the Deposit Escrow Agreement and the Purchaser has deposited with the Escrow Agent $750,000 in a segregated account established pursuant to the Deposit Escrow Agreement (the “Deposit”) for disbursement pursuant to this Agreement and the Deposit Escrow Agreement. The Purchaser shall be treated as the owner of the Deposit and all interest or other taxable income earned thereon for all income Tax purposes until such amounts, if any, are distributed pursuant to this Agreement and the Deposit Escrow Agreement. The Purchaser and the Seller shall each pay fifty percent (50%) of the fees and expenses required to be paid to the Escrow Agent under the Deposit Escrow Agreement.

DEPOSIT. Within three (3) Business Days after the Effective Date, Buyer will deposit $2,655,000.00 (the “Deposit”) with the Escrow Agent in Current Funds. “Current Funds” means wire transfers, certified funds, or cashier’s checks in a form acceptable to Escrow Agent that permit Escrow Agent to immediately disburse such funds. The Deposit will be credited to the Portfolio Purchase Price for the Properties; the remainder of the Portfolio Purchase Price and Buyer’s share of closing costs and pro-rations will be paid in Current Funds through escrow at Closing (as defined herein).

As a condition precedent to reviewing any request of Borrowers or any other matter that Administrative Agent reasonably believes will result in Administrative Agent and/or Lender incurring any out-of-pocket costs, fees or expenses (including actual out-of-pocket attorneys’ fees), Administrative Agent may require Borrowers to deposit with Administrative Agent, Servicer or Administrative Agent’s counsel an amount reasonably determined by Administrative Agent to cover such costs, fees and expenses (the “Fee Deposit”). Administrative Agent shall apply the Fee Deposit to the payment of any such out-of-pocket costs and expenses incurred in connection with the applicable request or other matter (regardless of whether such request or other matter is approved, denied or consummated); provided that # if the actual amount of such costs, fees, and expenses exceeds the amount of the Fee Deposit, then Borrowers shall promptly pay such excess amount to Administrative Agent, and # if the amount of the Fee Deposit exceeds the actual amount of such costs, fees, and expenses, then Administrative Agent shall return such excess amount to Borrowers. Notwithstanding that the Fee Deposit may be wired to Administrative Agent’s counsel, Borrowers and Administrative Agent hereby acknowledge and agree that in no way will any such remittance of the Fee Deposit to Administrative Agent’s counsel give rise to an attorney-client relationship between Borrowers on the one hand, and Administrative Agent’s counsel on the other hand.

Security Deposit. Prior to the Effective Date, Tenant shall provide an additional One Hundred Fifty-Two Thousand Four Hundred Ninety-Seven and 32/100 Dollars ($152,497.32) (which is four (4) months Base Rent for the Expansion Premises at a rate of $38,124.33 per month) to be added to the Security Deposit under the Lease, which shall mean the total Security Deposit amount required under the Lease shall be Three Hundred Two Thousand Three Hundred Ninety-Six and 00/100 Dollars ($302,396.00) (the “Revised Premises Security Deposit”). For the avoidance of doubt, the Revised Premises Security Deposit shall be held pursuant to Article 21 of the Lease and this Section 7 shall control future reductions of the Revised Premises Security Deposit. So long as Tenant has not been in default beyond any applicable notice and cure period at any time during the Term of the Lease, then at the end of the third (3rd) Lease Year, the Revised Premises Security Deposit shall be reduced to Two Hundred Twenty-Six Thousand Seven Hundred Ninety-Seven and 00/100 Dollars ($226,797.00). So long as Tenant has not been in default beyond any applicable notice and cure period at any time during the Term of the Lease, then at the end of the fifth (5th) Lease Year, the Revised Premises Security Deposit shall be reduced to One Hundred Fifty-One Thousand One Hundred Ninety-Eight and 00/100 Dollars ($151,198.00) for the remainder of the Lease Term, as extended.

Following the first occurrence of a Cash Management Event, Administrative Agent shall establish (or cause Servicer to establish) the Deposit Account. Administrative Agent shall be permitted to transfer funds in the Deposit Account to other accounts or sub accounts from time to time, including accounts with one or more different depository banks used by Administrative Agent or Servicer, and such additional accounts or sub accounts shall constitute a part of the Deposit Account for the purposes of this Agreement. The wiring instructions for the Deposit Account will be provided to Borrowers following the establishment thereof following the first occurrence of a Cash Management Event, and may be amended by Administrative Agent from time to time by reasonable, advance written notice to Borrowers.

Deposit. Client shall pay the first and last months’ Hosting Fee within three (3) calendar days of the Effective Date. Client shall also render payment for a

Deposit. Customer shall pay a pre-delivery deposit of ​ of the New Engine base price listed in Attachment C in accordance with the “PDP Payment Date” in Attachment A, paid by wire transfer, and payable upon issuance of invoice.

Deposit. Within three (3) Business Days after the Effective Date, Purchaser shall deliver to Escrow Agent the sum of THREE HUNDRED THOUSAND AND NO/100 Dollars ($300,000.00), which shall be held by the Escrow Agent as a deposit under this Agreement (the “First Deposit”). Unless this Agreement is terminated prior to the expiration of the Inspection Period, whereupon the First Deposit shall be promptly returned by Escrow Agent to the Purchaser, Purchaser shall, within three (3) Business Days following the expiration of the Inspection Period, deposit with the Title Company an additional sum equal to THREE HUNDRED THOUSAND AND NO/100 Dollars ($300,000.00) (the “Second Deposit”) in good funds either by certified bank or cashier’s check or by federal wire transfer. The First Deposit and the Second Deposit (together totaling $600,000.00), together with any interest earned thereon as provided herein, shall hereinafter be referred to collectively as the “Deposit”.

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