Common use of Performance Deposit Clause in Contracts

Performance Deposit. Buyer shall submit at Closing a Performance Deposit in the amount of Ten Thousand and No/100ths Dollars ($10,000.00) ("Deposit"). The Deposit shall serve as security for the performance of the obligations of the Buyer to construct as provided hereinafter. DCD shall authorized 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. Buyer shall submit deliver at Closing a Performance Deposit in the amount of Ten Thousand and No/100ths Dollars ($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. DCD shall authorized 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 Seller if Buyer fails to complete the Project according to the time schedule provided in Section 22(a)3.

Performance Deposit. The Buyer shall submit deliver at Closing a Performance Deposit in the amount of Ten Two Thousand Five Hundred and No/100ths Dollars ($10,000.002,500.00) Dollars ("Deposit"). The Deposit shall serve as security for the performance of the obligations of the Buyer to construct complete the Project as provided hereinafterherein. DCD shall authorized 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. The Buyer shall submit deliver at Closing a Performance Deposit in the amount of Ten Thousand and No/100ths Dollars ($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. DCD shall authorized 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 Seller if Buyer ▇▇▇▇▇ fails to complete the Project according to the time schedule provided in Section 22(a)3.