Additional Deposit Sample Clauses
The Additional Deposit clause requires a party, typically the buyer in a transaction, to provide an extra sum of money beyond the initial deposit as part of the overall payment structure. This additional deposit is usually due at a specified time after the initial agreement is signed, such as upon removal of certain conditions or after a set number of days. By structuring payments in this way, the clause helps demonstrate the buyer's commitment to the transaction and provides the seller with increased financial security before final closing.
POPULAR SAMPLE Copied 24 times
Additional Deposit. If Purchaser does not terminate this Agreement as and in the manner provided in Section 2(c) hereof, then no later than the two business days after the date of expiration of the Feasibility Period, Purchaser shall deliver to Commercial Property Title, LLC, attention Xxxxxxx XxXxxx, as agent of First American Title Insurance Company (the “Escrow Agent”), immediately available funds in the amount of SEVEN MILLION DOLLARS ($7,000,000.00) (the “Additional Deposit”) as an additional xxxxxxx money deposit hereunder, which Additional Deposit, together with all interest and/or other income earned thereon and the proceeds thereof, shall be held and invested, and applied or released by the Escrow Agent in accordance with Section 3(a) hereof; provided, however, if for any reason Purchaser shall fail to deliver the Additional Deposit as and in the manner provided in the preceding sentence, then and in such event and notwithstanding any provision of this Agreement express or implied to the contrary, this Agreement thereupon automatically shall terminate, the Initial Deposit shall be fully earned by Seller and neither party shall have any further rights against or obligations to the other hereunder except as expressly provided in this Agreement. The Additional Deposit shall be non-refundable to Purchaser except in the event of a default by Seller under this Agreement or failure of a condition under Section 11(a) hereof, and shall be applied to the Purchase Price at Closing. As used herein, the term “Deposit” shall mean, collectively, the Initial Deposit, and, if and when paid, the Additional Deposit (and all interest and/or other income earned thereon and all proceeds thereof).
Additional Deposit. For reasons of administration, the right is reserved to require payment of an Additional Deposit, as shown on the Fees List for the relevant year, as an additional deposit in the case of a pupil whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Pupil leaves and will be repaid by means of a credit without interest to the final payment of Fees or other sums due to the School on leaving, unless stated otherwise in these terms and conditions. See also Clause 8.7
Additional Deposit. Unless the Contract is terminated in accordance with Section 3 of this Amendment, Purchaser shall deliver the Additional Deposit to the Escrow Agent on or before one Business Day after the expiration of the Extended Diligence Period.
Additional Deposit. The amount of the Additional Deposit set forth in Section 2.2.2 of the Contract shall hereby be deleted and replaced with $341,244.23.
Additional Deposit. As additional consideration for the grant of the Option for each Property, the applicable Builder Party agrees to pay the Additional Deposit for a Property as and when required under this Section. “Additional Deposit” shall mean the following amounts:
Additional Deposit. Purchaser shall deliver the Additional Deposit to the Escrow Agent on or before one Business Day after the Amendment Date.
Additional Deposit. Notwithstanding anything to the contrary contained in the Agreement, Buyer shall not be required to deposit with Escrow Holder the Additional Deposit under Section 2.2.1 of the Agreement until one (1) Business Day after the Contingency Date, as amended herein.
Additional Deposit. For reasons of administration, the School reserves the right to require payment by the Parents of the Additional Deposit in the case of a Student whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Student leaves and will be repaid without interest after the Student's last Term, after the deduction of any amounts owed to the School unless stated otherwise in this Agreement. Please also see clause 9.13 which explains what you need to do if you wish to withdraw your acceptance of a place before the Student joins the School.
Additional Deposit. By delivery, within two (2) business days next following the Inspection Period Expiration Date (as hereinafter defined), of Buyer's good check in the amount of $25,000.
Additional Deposit. The Sellers may request additional deposits at specified times during the transaction as a show of commitment by the Buyer. If any additional deposit is to be paid, the amount of the deposit and the time for delivery are indicated on this line. Be sure to advise the Buyer that making this payment on time is an obligation of the Agreement, and that there may be consequences for late payment. See Paragraph 5 (Dates/Time is of the Essence) and Paragraph 26 (Default, Termination and Return of Deposits) for more information.