Deposit; Balance Sample Clauses
POPULAR SAMPLE Copied 2 times
Deposit; Balance. The Landlord acknowledges that: the Deposit Balance is and remains beneficially the property of the Tenant subject to the charge created by clause 4.3 and the Bank has been notified in writing of this fact; and9 it must not make any withdrawals from the Deposit Account except on the terms of this Deed. The Tenant acknowledges that the Landlord is entitled to make withdrawals from the Deposit Account on the terms of this Deed and that any money so withdrawn will become the property of the Landlord. The Landlord may notify the Tenant that the Deposit Balance is to be reduced by such sum as may be specified to settle any of the Secured Liabilities. If the Tenant does not pay to the Landlord the sums specified within 5 Business Days after being notified, the Landlord may withdraw those sums from the Deposit Account. The Tenant must pay to the Landlord on demand such further sums as may be required to ensure that the Deposit Balance is at all times equal to the Minimum Balance, including following any increase in the Minimum Balance after a review of the yearly rent.10 The Landlord must pay any sums received from the Tenant under clause 5.4 into the Deposit Account and they will form part of the Deposit Balance. Interest earned on the Deposit Account must be credited to the Deposit Account. It will form part of the Deposit Balance until paid to the Tenant in accordance with [clause 6 or] clause 7.11 Subject to clause 6.2, on each Interest Date the Landlord must pay to the Tenant the interest earned on the Deposit Account net of tax deducted by the Bank and after deducting any costs charged by the Bank for the operation of the Account. If, on an Interest Date, any sums are due from the Tenant under the Lease or this Deed or there is any dispute between the Landlord and the Tenant under the Lease or this Deed, the Interest Date will be deferred until the date on which the Tenant has paid those sums in full or the relevant dispute has been resolved, as the case may be. The Tenant must not set off interest due to it under this clause 6 against any sums due from the Tenant to the Landlord under the Lease or this Deed.]12
Deposit; Balance. Buyer’s attorney has received and is holding the balance of $272,500 (the “Balance”) toward the full Purchase Price of Two Hundred Eighty-Five Thousand Dollars ($285,000.00), which Balance will be wire transferred to the Law Firm’s Escrow Account on or before three (3) days before the Closing Date, set forth herein, to purchase the Common Shares being sold by the Seller. The Purchase Price will be held in the Law Firm’s Escrow Account until Closing (as defined in Section 6.1 of this Agreement) or until ordered released as per other sections of this Agreement.
Deposit; Balance. Purchaser has made, by wire transfer to the Escrow Agent, the Deposit of Twenty Five Thousand Dollars ($25,000) toward the full Purchase Price of Ninety Thousand Dollars ($90,000.00); the Balance of $65,000 will be wire transferred to the Escrow Agent’s Escrow Account within 72 hours after this SPA is signed by both Parties, to purchase the Shares being sold by the Seller. The Purchase Price will be held in the Escrow Account until Closing (as defined in Section 3.01 of this Agreement) or until ordered released as per other sections of this Agreement. The Balance shall be fully refundable to Purchaser until the Closing, for any reason or no reason. In addition if, after signing this Agreement and prior to the Closing, the Purchaser discovers something material that was not previously disclosed to Purchaser, which changes the structure and intent of this Agreement and the transaction, and which the Seller cannot correct immediately, the Purchaser will notify the Seller of the subject of concern and their intention to terminate this Agreement and to request a refund of the Deposit, in writing, addressed to the individuals and addresses listed in Article VI, 6.09 of this Agreement. The Seller then shall have five (5) business days after receiving the request for the return of the Purchase Price, to correct the discrepancy, or the Purchase Price will be refunded to the Purchaser by the Escrow Agent, and this Agreement will be terminated with no liability of either party. The Seller has forwarded, for review by the Purchaser, any and all documents of INTB which Purchaser has requested.
Deposit; Balance. 5.1 The Landlord acknowledges that:
5.1.1 the Deposit Balance is and remains beneficially the property of the Tenant subject to the charge created by clause 4.4 and the Bank has been notified in writing of this fact; and
5.1.2 it must not make any withdrawals from the Deposit Account except on the terms of this Deed.
5.2 The Tenant acknowledges that the Landlord is entitled to make withdrawals from the Deposit Account on the terms of this Deed and that any money so withdrawn will become the property of the Landlord.
5.3 The Landlord may notify the Tenant that the Deposit Balance is to be reduced by such sum as may be specified to settle any of the Secured Liabilities. If the Tenant does not pay to the Landlord the sums specified within 10 working days after being notified, the Landlord may withdraw those sums from the Deposit Account.
5.4 The Tenant must pay to the Landlord on demand such further sums as may be required to ensure that the Deposit Balance is at all times equal to the Minimum Balance.
5.5 The Landlord must pay any sums received from the Tenant under clause 5.4 into the Deposit Account within 2 working days of receipt and they will form part of the Deposit Balance.
5.6 Interest earned on the Deposit Account must be credited to the Deposit Account. It will form part of the Deposit Balance until paid to the Tenant in accordance with clause 6.
Deposit; Balance. The balance of the Deposit remaining after making the Patriot Payoff shall be held in escrow by the Sellers until the earlier of (i) the release of the Deposit to the Sellers at the Closing or (ii) the release of the Deposit pursuant to Section 8 of this Agreement.
Deposit; Balance. The Borrower covenants and agrees to at all times maintain a collected funds Deposit balance equal to the then unpaid principal balance of the Term Loan.
Deposit; Balance. Purchaser’s attorney has received and is holding the Deposit of Fifty Thousand Dollars ($50,000) toward the full Purchase Price of Seventy Nine Thousand Dollars ($79,000.00); the Balance of $29,000 will be wire transferred to the Law Firm’s Escrow Account on or before three days before the Closing Date, set forth herein, to purchase the Shares being sold by the Seller. The Purchase Price will be held in the Law Firm’s Escrow Account until Closing (as defined in Section 3.01 of this Agreement) or until ordered released as per other sections of this Agreement. The Balance shall be fully refundable to Purchaser until the Closing, for any reason or no reason. The Seller has forwarded, for review by the Purchaser, any and all documents of CHTA which Purchaser has requested, in reply to the Due Diligence Questionnaire previously sent to Seller’s attorney.