Cash Deposit Sample Clauses
A Cash Deposit clause requires one party, typically the buyer or tenant, to provide a specified sum of money as a deposit to the other party, often as security for performance under the contract. This deposit is usually paid upfront or at a designated stage in the transaction process and may be held in escrow or by the seller/landlord until certain conditions are met, such as completion of the sale or fulfillment of lease obligations. The core function of this clause is to demonstrate the party’s commitment to the agreement and to protect the recipient against potential default or non-performance.
POPULAR SAMPLE Copied 18 times
Cash Deposit. City may, without limiting its other remedies, require Contractor to pay to City a cash or other deposit in an amount necessary to cover the cost of repairing or remedying any breach of this Agreement. City shall provide Contractor with a billing and accounting when such repair or remedy is completed. Any unexpended sums shall be returned to Contractor, and Contractor shall immediately pay any additional costs incurred by City in excess of the cash deposited with City. No interest shall be payable to Contractor on any such deposit.
Cash Deposit. (a) If the Council makes demand under any Bond pursuant to paragraph 4 of this Schedule 10, the Council must hold the full amount so paid to the Council as a cash deposit (Cash Deposit) in a separate account opened with any body corporate that is an ADI (authorised deposit-taking institution) for the purposes of the Banking Act, 1959 in the name of the Council and with beneficial ownership vesting at all times in the Council (Cash Deposit Account). The Cash Deposit will operate to secure the same obligations under this Deed that the relevant Bond secured.
(b) As beneficial owner of the Cash Deposit, the Council may, at any time and without notice to the Contractor, withdraw money (including accrued interest) from the Cash Deposit Account and retain that money absolutely to satisfy or reimburse the Council for any liability, loss, cost, charge or expense incurred by the Council because of failure by the Contractor to comply with those of the Contractor's obligations under this Deed that the relevant Bond secured.
(c) All Costs, charges, duties and taxes payable in connection with the Cash Deposit Account or interest accruing on moneys credited to the Cash Deposit Account may be satisfied by the Council withdrawing money from the Cash Deposit Account and applying the money for that purpose.
(d) If no moneys are, or may become, payable to the Council under this Deed in connection with the obligations under this Deed secured by the relevant Bond and the Contractor has satisfied all of its obligations under this Deed which were secured by the relevant Bond, the Council must pay the balance of the Cash Deposit Account, less all Costs, charges, duties and taxes payable in connection with such payment, to the Contractor.
(e) For the avoidance of doubt, the Contractor has no right to require the Council to release the Cash Deposit until the Council is reasonably satisfied that no moneys are, or may become, payable to the Council under this Deed in relation to obligations secured by the relevant Bond.
Cash Deposit. Lessee has deposited with Lessor $100.00 as security deposit for the faithful performance of and compliance with all the terms and conditions of this lease. Should Lessee fail to comply with each and every term and condition of the Lease, then the amount deposited as security shall be retained by Lessor as fixed, liquidated, and agreed damages for payment of disbursements, costs, and expenses that Lessor may incur. The parties shall treat the security deposit as liquidated damages, in payment of such costs, disbursements, and expenses sustained, as the parties cannot ascertain the exact amount of costs, disbursements, and expenses that Lessor would sustain in the event of any breach or violation hereunder by Lessee. The retention and holding of the security deposit for payment of such costs, disbursements, and expenses shall not in any manner be considered as payment for any rent due or to become due under this lease, or in any manner release Lessee from any rents to be paid, or from any of the obligations herein assumed. If all the terms and conditions are fully complied with the Lessee, then the security deposit shall be returned to the Lessee on surrender of the premises in a good state and condition, reasonable use and wear thereof excepted, at the termination of this Lease.
Cash Deposit. Applicant has made a cash deposit which has been subtracted from total financed amount.
Cash Deposit. If the security is in the form of a cash deposit, interest at the rate currently paid by Central ▇▇▇▇▇▇ on customer deposits shall be credited to the Licensee during the continuance of the deposit. If Licensee shall fail to pay any non-disputed sum demanded by Central ▇▇▇▇▇▇ as due under the provisions of this Agreement, in addition to such other remedies available at law or pursuant to this Agreement Central ▇▇▇▇▇▇ shall have the right, without prior notice to the Licensee, forthwith to setoff and apply any or all amounts on deposit with it to payment of the non-disputed sum due, whether or not Central ▇▇▇▇▇▇ exercises or has exercised any option it may have to terminate this Agreement. If any such amounts are applied to payment of sums due to Central ▇▇▇▇▇▇, Licensee shall restore to its deposit the amounts so applied within thirty (30) days after notice to Licensee of such application.
Cash Deposit. In lieu of obtaining a performance bond, Licensee shall have the right to instead deposit a cash deposit with Licensor securing Licensee’s obligations under this Agreement.
Cash Deposit. All the Group Companies’ cash shall be deposited with sound international or PRC financial institutions, and all such cash deposits shall be short-term with free liquidity unless otherwise approved by the Board of Directors.
Cash Deposit. 4.5.1 Where a Cash Deposit is the form of Acceptable Security the provisions of Clauses 4.5.2 to 4.5.5 (inclusive) shall apply.
4.5.2 The Customer shall pay the Cash Deposit in cleared funds into the Deposit Account no later than [●].
4.5.3 If at any time the amount remaining in the Deposit Account is less than the amount of the Cash Deposit then the Cash Deposit shall no longer be considered as Acceptable Security. The Customer shall have thirty (30) Days from the date on which the balance of the Deposit Account falls below the amount of the Cash Deposit to reinstate the balance of the Deposit Account to the amount of the Cash Deposit (or to provide SL with an alternative form of Acceptable Security, acceptable to SL), failing which the Cash Deposit shall be deemed to have become invalid (but only for the purposes of constituting Acceptable Security but not otherwise, and provided that SL shall continue to be able to realise sums from the Cash Deposit up until the earlier to occur of the date on which the Deposit Account is fully depleted or the Customer puts in place alternative Acceptable Security). Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security.
4.5.4 SL shall be entitled to retain any interest accrued on the Cash Deposit during the Contract Period.
4.5.5 Unless otherwise agreed with the Customer, where Clause 4.6 applies, SL shall release all amounts (other than the accrued interest) standing to the credit of the Cash Deposit (or the remaining part thereof, as the case may be) to the Customer in cleared funds to the Customer's Account.
Cash Deposit. No cash will be deposited into the certificate account on the closing date.
Cash Deposit a cashier’s check shall be provided in the amount of the surety. Cash deposits will be placed in a separate Wake County account and designated for this purpose.