DEVELOPER'S DEPOSIT Sample Clauses

DEVELOPER'S DEPOSIT. The Developer shall maintain a $15,000.00 balance in the Developer's Deposit. No reduction of the Letter of Credit balance shall be entertained until the Developer's Deposit is satisfied unless otherwise authorized by the Common Council following a recommendation of the Finance Committee. Upon completion of the project, acceptance of improvements and payment of all project related costs, any unused balance remaining in Developer’s deposit account shall be returned to Developer.
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DEVELOPER'S DEPOSIT with execution of this Agreement, Developer has delivered to City a good faith deposit (the “Deposit”) in the amount of One Hundred Thousand Dollars ($100,000.00), receipt of which is hereby acknowledged. Any interest earned on the Deposit prior to the execution of this Agreement shall belong to City.
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DEVELOPER'S DEPOSIT. The Subdivider shall maintain a $ balance in the Developer's Deposit. No reduction of the Letter of Credit balance shall be entertained until the Developer's Deposit is satisfied unless otherwise authorized by the Common Council following a recommendation of the Finance Committee.
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DEVELOPER'S DEPOSIT a. Upon submission of the executed Agreement by the Developer and the approval of such by the City at its one of its regularly scheduled City Council meeting, Developer shall deliver to City via wire transfer the sum of Two Million Nine Hundred Thousand Dollars ($2,900,000)(the “Deposit”) on or before 5 p.m., on the date on which City approval has taken place. In the event the Deposit has not been timely received by the City on such date on or before said 5 p.m., deadline, the City shall not be required to execute this Agreement and the City Manager shall have the right, in his sole discretion, to immediately cancel this Agreement at any time thereafter. b. The City shall have the right to use the Deposit or any part thereof, to pay or reimburse the City for any financial obligations incurred by it related to its acquisition of the Site and/or the potential or actual sale and development of the Units thereon by Developer. c. The Developer hereby agrees that as part of the negotiation and approval of the DDA, the City shall also incur certain expenses including but not limited to, the internal administrative costs of the City (including but not limited to a reasonable allocation of time by City representatives and other staff members and the performance of the City’s obligations as provided in Section 1.2 above), third-party consultant and legal costs and other related expenses incurred by the City relative to the negotiation and preparation of the DDA (the “City Expenses”). The Developer acknowledges that the actual amount of City’s Expenses relating to the negotiation and execution of this Agreement and performance by City of its obligations as described in Section 1.2 of this Agreement would be difficult to determine and therefore the Parties agree that the amount of Fifty Thousand Dollars ($50,000) is a reasonable estimate of the City’s Expenses in light of all the circumstances with respect thereto. As such, Developer agrees that in the event the Deposit is required to be returned as provided in this Section 1.6, the City shall be entitled to retain $50,000 of the Deposit to recover the City Expenses. d. In the event this Agreement is terminated as the result of Developer’s failure to negotiate in good faith, as determined by the City Manager in his or her sole discretion, City shall return the Deposit to the Developer less the sum of One Hundred Thousand Dollars ($100,000) which the City shall be entitled to retain as liquidated damages suffered by th...
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Related to DEVELOPER'S DEPOSIT

  • Direct Deposit If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (▇▇▇) ▇▇▇-▇▇▇▇. This does not apply to transactions occurring outside the United States.

  • Escrow Deposit Concurrently with the execution and delivery of this Agreement, the Holder will deliver [the sum of ____________________ Dollars ($_____________) in lawful money of the United States of America by wire transfer of immediately available funds] [and] [[ ] Class A Trust Certificates] [and] [[ ] Class B Trust Certificates] in accordance with Section 14 of the Series Supplement] (the "Escrow Deposit"), to Escrow Agent to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit. Any cash amounts in the Escrow Deposit may be increased or decreased in accordance with the terms of Section 2.02(i)(vi) of the Warrant Agreement and the terms of this agreement will apply with equal force and effect to any such increased or decreased cash amounts in the Escrow Deposit.

  • Damage Deposit Upon the due execution of this Agreement, Tenant shall deposit with Landlord the sum of DOLLARS ($ ) receipt of which is hereby acknowledged by Landlord, as security for any damage caused to the Premises during the term hereof. Such deposit shall be returned to Tenant, without interest, and less any set off for damages to the Premises upon the termination of this Agreement.

  • Mobile Deposit The Mobile Deposit feature enables you to use a software application together with your Wireless Access Device to create electronic images of the front and back of certain Original Checks (defined below) and transmit those images and other information, including, without limitation, information captured from the magnetic ink character recognition (“MICR”) line, to us for review and processing in accordance with this Agreement.

  • 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).