Deposit Moneys Sample Clauses

Deposit Moneys. All deposit moneys will be held in trust by until closing of title.
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Deposit Moneys. All deposit moneys will be held in trust by U.S. Bank, as Custodian for the Seller until closing of title or the termination of this Contract. Wiring instructions for U.S. Bank have been provided to the Buyer.
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Deposit Moneys. All deposit moneys will be held in trust by Seller until disbursed in accordance with this contract.
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Deposit Moneys. The First Deposit and the Second Deposit will be held as the Deposit, in a segregated account in escrow by Buyer’s Title Insurance Company (Chicago Title Insurance Company, unless the Buyer elects otherwise), which shall act as escrow agent for the Deposit and for the Closing (the “Escrow Agent”). The Deposit shall be held by Escrow Agent in one or more interest bearing trust accounts until Closing or earlier termination of this Agreement pursuant to its terms. At Closing the interest shall be divided equally between Seller and Buyer, and upon any other disposition of the Deposit all interest accruing upon the Deposit shall be paid to the party to whom the Deposit is payable pursuant to this Agreement. The Deposit shall be wire transferred by Buyer to the account maintained by the Escrow Agent on the date a fully executed copy of this Agreement is returned to Buyer’s attorney. The Deposit shall be fully refundable with all accrued interest if this Agreement is terminated during the Due Diligence Period (as hereinafter defined), or if this Agreement is validly terminated in accordance with its terms as a result of the breach or default of the Seller or as a result of the non-satisfaction of a closing condition hereinafter expressly provided as to the obligation of the Buyer to close (including the absence of the Mortgage Assumption other than as a result of the breach by Buyer of its obligations under Section 22 of this Agreement). If Buyer does not terminate this Agreement during the Due Diligence Period, the Second Deposit shall be remitted to the Escrow Agent within two (2) business days after the expiration of the Due Diligence Period without Buyer terminating this Agreement or waiver of the due diligence contingency and thereafter the Deposit (including both the First Deposit and the Second Deposit) shall become non-refundable, except for valid termination of this Agreement due to the breach of this Agreement by Seller or failure to close due to Seller’s inability to deliver title as provided in this Agreement or inability to complete the Mortgage Assumption other than as a result of the breach by Buyer of its obligations under Section 22 of this Agreement or other non-satisfaction of a closing condition hereinafter expressly provided as to the obligation of the Buyer to close. The Escrow Agent shall act as stakeholder, and shall have no liability, with respect to the funds deposited, except to hold and apply same in accordance with this Agreement. Buy...
Sample 1
Deposit Moneys. The Deposit will be held in trust by Xxxxxxxxx, XxXxxxxxx & Xxxxxxxxx, P.A. (“Escrow Agent”), in an interest-bearing trust account. Escrow Agent shall deliver the Deposit to Buyer or Seller, as the case may be, under the following conditions:
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Deposit Moneys. The Deposit will be held in escrow by Purchaser's Attorneys in accordance with the escrow agreement annexed to this Contract until the Closing. All interest shall belong to the party entitled to the Deposit.
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Related to Deposit Moneys

  • Deposit and Disbursement Accounts Disclosure Schedule (3.19) lists all banks and other financial institutions at which any Credit Party maintains deposit or other accounts as of the Closing Date, including any Disbursement Accounts, and such Schedule correctly identifies the name, address and telephone number of each depository, the name in which the account is held, a description of the purpose of the account, and the complete account number therefor.

  • Disbursement of Moneys from Fund Custody Account Upon receipt of Proper Instructions, the Custodian shall disburse moneys from the Fund Custody Account but only in the following cases:

  • Deposit of Moneys Prior to 10:00 a.m., New York City time, on each Interest Payment Date and on the Maturity Date, the Company shall have deposited with the Paying Agent in immediately available funds money sufficient to make cash payments, if any, due on such Interest Payment Date or on the Maturity Date, as the case may be, in a timely manner which permits the Trustee to remit payment to the Holders on such Interest Payment Date or on the Maturity Date, as the case may be.

  • Escrow Deposits All escrow deposits and escrow payments currently required to be escrowed with the Mortgagee pursuant to each Mortgage Loan (including capital improvements and environmental remediation reserves) are in the possession, or under the control, of the Mortgage Loan Seller or its servicer, and there are no delinquencies (subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto) that are required under the related Mortgage Loan documents are being conveyed by the Mortgage Loan Seller to the Depositor or its servicer (or, in the case of a Non-Serviced Mortgage Loan, to the related depositor under the Non-Serviced PSA or Non-Serviced Master Servicer for the related Non-Serviced Trust).

  • Escrow Funds To provide for the timely payment of any post-closing claims by Buyer against Seller hereunder, at Closing, Seller shall deposit an amount equal to One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”), which escrow and Post-Closing Agreement shall be established and entered into at Closing and shall be a condition to Buyer’s obligations under this Contract. All earnings accrue to Seller and Seller may direct investment thereof. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1-year period, the Escrow Funds deposited by Seller shall be released to Seller.

  • Collection Account (a) On behalf of the Trustee, the Servicer shall establish and maintain, or cause to be established and maintained, one or more Eligible Accounts (such account or accounts, the "Collection Account"), held in trust for the benefit of the Trustee. On behalf of the Trustee, the Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer's receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto:

  • Trust Account Proceeds Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

  • Deposits to Collection Account The Servicer shall use its best efforts to deposit or cause to be deposited (without duplication), within one (1) Business Day after receipt thereof, into the Collection Account and retain therein in trust for the benefit of the Noteholders and the Securities Insurer:

  • Segregated Account The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of each such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Portfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Portfolio or commodity futures contracts or options thereon purchased or sold by the Portfolio, (iii) for the purposes of compliance by the Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of clause (iv), upon receipt of, in addition to Proper Instructions from the Fund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the Executive Committee signed by an officer of the Fund and certified by the Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

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