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).
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. 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, 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”.
Security Deposit. Lessor is currently holding a Security Deposit in the amount of Two Hundred Forty-Four Thousand Nine Hundred Twenty-Two and 40/100 Dollars ($244,922.40) under the Lease. Upon execution of this Amendment, Lessee shall deliver to Lessor cash in the amount of Two Hundred Seven One Hundred Sixty and 04/100 Dollars ($207,160.04), such that the total Security Deposit shall be Four Hundred Fifty Two Thousand Eighty Two and 44/100 Dollars ($452,082.44). The entire sum shall be held as the Security Deposit pursuant to Paragraph 7 of the Lease, through the date Lessee has satisfied all of its obligations under the Lease.
Deposit Accounts. Other than Excluded Accounts, neither Borrower nor any Qualified Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Agent has an Account Control Agreement.
Security Deposit. If Tenant does not elect to deposit the L-C, then Tenant shall, concurrent with Tenant’s execution of this Lease, deposit with Landlord a security deposit (the “Security Deposit”) in the amount set forth in [Section 10] of the Summary. The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the Lease Term. If Tenant defaults (beyond any applicable notice and cure periods) with respect to any provisions of this Lease, including, but not limited to, the provisions relating to the payment of Rent, Landlord may, but shall not be required to, use, apply or retain all or any part of the Security Deposit for the payment of any Rent or any other sum in default, or to compensate Landlord for any other actual loss or damage caused by Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) business days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount, and Tenant’s failure to do so shall be a default under this Lease. The Security Deposit, or any balance thereof, shall be returned to Tenant within sixty (60) days following the expiration of the Lease Term; provided Tenant has cured any outstanding defaults or, if not, Landlord shall return the Security Deposit less amounts required to cure outstanding defaults. Tenant shall not be entitled to any interest on the Security Deposit. Tenant hereby waives all provisions of law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage to which Landlord is entitled to under the Lease, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant to the extent permitted under the Lease. In the event of bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for all periods prior to the filing of such proceedings. Notwithstanding anything to the contrary contained in this [Article 20] or [Section 10] of the Summary, in the event that Tenant, at the expiration of the twenty-fourth (24th) month of the initial Lease Term (“Reduction Date”), is not in default of any of its obligations under this Lease (beyond the expiration of all applicable notice and cure periods) and Landlord has not made any application of the Security Deposit prior to the Reduction Date, Landlord shall reduce the amount of the Security Deposit to an amount equal to One Million Five Hundred Thirty-Four Thousand Two Hundred Seven and 50/100 Dollars ($1,534,207.50) and Landlord shall, within ten (10) days after the Reduction Date, refund to Tenant an amount equal to Seven Hundred Sixty-Seven Thousand One Hundred Three and 70/100 Dollars ($767,103.70).
Security Deposit. As of the date of this Fourth Amendment, the defined term “Security Deposit” on page 1 of the Lease is deleted and replaced with the following:
SECURITY DEPOSIT. The previous security deposit will not change and be applied towards the extended term of the lease.
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