Performance Deposit. Permittee shall deposit the Performance Deposit required under Paragraph F of this Permit with Port upon execution of this Permit, which sum (and any additions thereto required hereunder) shall be by cash or irrevocable letters of credit, each in a form and from an issuer acceptable in Port’s sole discretion. Any letter of credit provided as a Performance Deposit must be in the form of the letter of credit attached hereto as Exhibit “11”, or such successor form as Port may from time to time require by written notice to Permittee, and shall be drawn on a bank located within the continental United States acceptable to the Port’s Chief Financial Officer. The Port’s preference is for Permittee to provide a letter of credit that can be drawn at a site or counter of such a bank with a branch office located in Oakland or San Francisco, California. (Letters of credit issued through correspondent banks will not be accepted.) Unless the Port receives a written extension or replacement of the letter of credit at least ninety (90) days before the end of the term of the letter of credit, the Port without notice to Permittee, may draw on the letter of credit and retain all proceeds as a cash Performance Deposit pursuant to the terms of this Section 27. The Performance Deposit shall be retained by Port as security for the faithful performance of Permittee’s obligations hereunder and under any other agreement between Port and Permittee. From time to time, the Port shall have the right to increase the amount of the Performance Deposit to reflect any increases in the amount of the total Minimum Annual Guaranty (rounded to the nearest thousand), or to such greater amount required by Port Administrative Policy No. 509 – Collection of Delinquent Accounts, as such Policy may be amended from time to time, by giving Permittee fifteen (15) days written notice and Permittee shall be obligated to increase the Performance Deposit to such amount by the end of such fifteen (15) day period. Port shall have the right, but not the obligation, to apply said Performance Deposit to the payment of any sum due to Port which has not been paid, including, but not limited to, reimbursement of any expenses incurred by Port in curing any default of Permittee, or to the cost of restoring the Assigned Space or its furnishings, fixtures or equipment to their original condition, reasonable use and wear excepted, or to Port’s future rent damages arising out of the termination of this Permit because of P...
Performance Deposit. Upon execution of this Agreement, Purchaser shall pay to Seller by wire transfer a deposit in the amount of sixteen million two hundred fifty thousand Dollars ($16,250,000.00) (“Performance Deposit”) to be held by Seller in accordance with this Agreement. In the event that the transactions contemplated by this Agreement are consummated, the Performance Deposit shall be applied to the Preliminary Purchase Price as set forth in Section 2.5(b) below. In the event this Agreement is terminated, the Performance Deposit plus any interest earned thereon shall be applied in accordance with the provisions of Article X.
Performance Deposit. Permittee shall maintain with the Port a performance deposit (the “Performance Deposit”) in the initial amount set forth on Exhibit “5”, and complying with and subject to the provisions of Section 27 of Attachment ”A” to this Permit, including without limitation the provisions of Section 27 of Attachment ”A” relating to adjustments to the amount of Permittee’s Performance Deposit. The existence or amount of the Performance Deposit shall not limit Permittee’s liability or the Port’s rights in the event Permittee fails to make any payments to Port required by this Permit or to comply with any of Permittee’s other obligations under this Permit.
Performance Deposit. The Buyer shall deliver at Closing a Performance Deposit in the amount of Ten Thousand and No/100ths ($10,000.00) Dollars ("Deposit"). The Deposit shall serve as security for the performance of the obligations of the Buyer to construct as provided hereinafter. The Seller shall authorized return of the Deposit concurrently with its formal approval of the Certificate pursuant to Section 7 or shall retain the Deposit as liquidated damages in accordance with the provisions of Sections 7 and 15. No interest shall be paid on the deposit. All or part of the Deposit may be retained by the Seller if Buyer fails to complete the Project according to the time schedule provided in Section 2.
Performance Deposit. On or before 4:00 o'clock p.m., local time, March 29, 1996, Buyer shall tender to Seller, by wire transfer, a performance deposit in the amount of One Hundred Thirty Eight Thousand and 00/100 Dollars ($138,000.00). The performance deposit is received solely to assure the performance of Buyer pursuant to the terms and conditions hereof. The performance deposit will be returned to Buyer at Closing upon consummation of the transaction, or at Buyer's election, may be credited to the Purchase Price. No interest shall be paid or credited to the performance deposit. If Buyer fails, refuses, or is unable to close the sale in accordance with the terms herein, Seller, except as otherwise herein specifically provided, may, at its option, retain the performance deposit as agreed liquidated damages and not as a penalty. If Seller, through no fault of Buyer, refuses to close the sale in accordance with the terms herein, the performance deposit shall be returned to Buyer.
Performance Deposit. The Buyer shall deliver at Closing a Performance Deposit in the amount of Two Thousand Five Hundred and No/100ths ($2,500.00) Dollars ("Deposit"). The Deposit shall serve as security for the performance of the obligations of the Buyer to complete the Project as provided herein. DCD shall authorize return of the Deposit concurrently with its formal approval of the Certificate of Completion pursuant to Section 7 or shall retain the Deposit as liquidated damages in accordance with the provisions of Sections 7 and 15. No interest shall be paid on the deposit. All or part of the Deposit may be retained by the City if Buyer fails to complete the Project according to the time schedule provided in Section 2.
Performance Deposit. Upon execution of this Agreement, Purchaser shall pay by wire transfer to Seller [REDACTED]* in good and immediately available funds, as a performance deposit (the “Performance Deposit”) on the Assets to be transferred to Purchaser hereunder. The Performance Deposit shall be paid by wire transfer to Seller, using the following instructions: SWEPI LP [REDACTED]* This Performance Deposit is solely to assure the performance of Purchaser pursuant to the terms and conditions of this Agreement. If the Closing occurs, the Performance Deposit shall be applied toward the Purchase Price. If all of Purchaser’s conditions to Closing are satisfied, but Purchaser fails or refuses for any reason (including failure to obtain financing) to close the transaction in accordance with the terms hereof (“Purchaser’s Closing Breach”), then Seller shall have the right, as its sole and exclusive remedy to terminate this Agreement [REDACTED]*. Purchaser’s failure to close shall not be considered wrongful and Purchaser shall be entitled to the Performance Deposit if (a) Purchaser’s conditions under Section 3.A.i are not satisfied through no fault of Purchaser and are not waived, (b) Purchaser or Seller has terminated this Agreement as of right under Article 11.A.(i), (iii), (iv), (v), or (vi); or (c) Seller fails, refuses or is unable for any reason to close the transaction in accordance with the terms hereof, or breaches this Agreement prior to Closing, in each of which cases Seller shall return the Performance Deposit to Purchaser within ten (10) Business Days of the receipt of notice of termination. For the sake of clarity, if this Agreement is terminated for any reason other than Purchaser’s Closing Breach, then the Performance Deposit shall be paid and returned to Purchaser.
Performance Deposit. Contemporaneously with the execution of this Agreement, Buyer shall deposit with Seller cash equal to thirty percent (30%) of the unadjusted Purchase Price (“Performance Deposit”) by wire transfer to a bank account designated by Seller prior to the Signing Date; provided, however, that if the Signing Date is not a Business Day, Buyer shall deliver the Performance Deposit to Seller at its designated bank account in the United States before 12:00 p.m. CPT on the next Business Day.
Performance Deposit. No later than 2:00 p.m., Houston, Texas time, on June 3, 2011, Buyer shall deliver to the Escrow Agent a deposit of [Omitted] (the “Performance Deposit”) in cash by wire transfer of immediately available funds for deposit to the Performance Deposit Escrow Account, to assure Buyer’s performance of its obligations hereunder. The Performance Deposit together with any interest accrued thereon shall be held pursuant to this Agreement and an escrow agreement substantially in the form attached as Exhibit A-2 (the “Performance Deposit Escrow Agreement”) until Closing and shall be applied as a credit against the Closing Payment as provided in Section 2.4. No less than two (2) Business days prior to Closing, Seller and Buyer shall provide a joint written instruction to the Escrow Agent to release the Performance Deposit, together with any interest accrued thereon, to Seller at the Closing. If this Agreement is terminated without a Closing, then the distribution of the Performance Deposit shall be governed by the provisions of Section 10.2, and Seller and Buyer shall provide a joint written instruction to the Escrow Agent to release the Performance Deposit in accordance therewith.
Performance Deposit. 20 3.4.1 Deposit..............................................20 3.4.2 Letter of Credit.....................................20 ARTICLE IV
