REPAYMENT OF DEPOSIT Clause Samples

REPAYMENT OF DEPOSIT. Subject as aforesaid and to clause 8 hereof, the Deposit shall be refunded to the Tenant by the Landlord within fourteen (14) days after the expiration or sooner determination of the Term and the delivery of vacant possession of the Property to the Landlord or within fourteen (14) days of the settlement of the last outstanding claim by the Landlord against the Tenant in respect of any breach, non-observance or non-performance of any of the agreements, stipulations terms or conditions and on the part of the Tenant to be observed and performed whichever is the later.

REPAYMENT OF DEPOSIT. (a) If Seller does not consummate the transactions contemplated by the Gray Gaming Purchase Agreement within thirty (30) days of the date of this Agreement, then Seller shall promptly repay the amount of the Initial Deposit (excluding the Suitability Deposit Amount) in full to Buyer and the Base Purchase Price shall be automatically reduced from Eight Million Nine Hundred Thousand Dollars ($8,900,000) to Five Million Nine Hundred Thousand Dollars ($5,900,000). (b) If Seller consummates the transactions contemplated by the Gray Gaming Purchase Agreement and either (i) Buyer receives a Regulatory Disapproval or (ii) Seller, Owner or ▇▇▇▇▇▇▇ loses its or his license under the Louisiana Video Draw Poker Devices Control Law prior to the Closing, Seller shall repay the full amount of the Deposit (less the Suitability Deposit Amount to the extent it has become non-refundable as of such date) to Buyer in equal monthly installments at an interest rate equal to the Applicable Federal Rate for mid-term notes over a period of four (4) years pursuant to the form of promissory note attached hereto as Exhibit D hereto; provided, however, that the total monthly payments for a given calendar year will be capped at 75% of the free operating cash flow of Seller for such calendar year. In the event that any principal amount is not paid because of the cap provided in the previous sentence, all such unpaid amounts will be due at the maturity date of the note. (c) Notwithstanding the foregoing or Section 3.2(a), if Buyer terminates this Agreement pursuant to Section 8.4(b), then Seller shall repay the full amount of the Deposit (less the Suitability Deposit Amount to the extent it has become non-refundable as of the applicable date and so long as the termination is not pursuant to Section 8.4(b)(i)) to Buyer in equal monthly installments at an interest rate equal to the Applicable Federal Rate for mid-term notes over a period of four (4) years pursuant to the form of promissory note attached hereto as Exhibit D hereto; provided, however, that the total monthly payments for a given calendar year will be capped at 75% of the free operating cash flow of Seller for such calendar year. In the event that any principal amount is not paid because of the cap provided in the previous sentence, all such unpaid amounts will be due at the maturity date of the note; provided, further that in the event Buyer terminates this Agreement pursuant to Section 8.4(b)(i) as a result of a breach of thi...

REPAYMENT OF DEPOSIT. Without prejudice to the provisions of clauses 3.1.1 and 5.3.3: 3.6.1 in the event that Completion does not occur by the Longstop Time or this agreement is terminated pursuant to clauses 5.5 or 6.3.3, in each case other than as a result of a material breach by the Purchaser of its obligations under part 2 of schedule 4, the Deposit, along with any interest which has accrued thereon, shall forthwith be repaid to the Purchaser; and 3.6.2 in the event that Completion does not occur by the Longstop Time or this agreement is terminated pursuant to clauses 5.5 or 6.3.3 in each case as a result of a material breach by the Purchaser of its obligations under part 2 of schedule 4, the Deposit, along with any interest which has accrued thereon, shall be forfeited to the Seller (the sum forfeited being exclusive of VAT, if any).

REPAYMENT OF DEPOSIT. Without prejudice to the provisions of clause 3.1.1: 3.9.1 in the event that Completion does not occur on the date specified in clause 5.1 or this Agreement is terminated pursuant to clauses 5.4 or 6.1 in each case other than as a result of a material breach by the Buyer of its obligations under schedule 4, the Deposit, along with any interest which has accrued thereon, shall forthwith be repaid to the Buyer and the Seller hereby instructs the Seller’s Lawyers to immediately release the Deposit to the Buyer; and 3.9.2 in the event that Completion does not occur on the date specified in clause 5.1 or is terminated pursuant to clause 5.4 in each case as a result of a material breach by the Buyer of its obligations under schedule 4, the Deposit, and any interest accrued thereon shall be forfeited to the Seller and the Buyer hereby instructs the Seller’s Lawyers to immediately release the Deposit to the Seller.

REPAYMENT OF DEPOSIT. Section 1.2(a) of the Agreement is amended by deleting the words “On the date of receipt of $38,113,534.95 or as soon thereafter as reasonably possible,” and replacing them with the following: “On the Closing Date or as soon as reasonably possible thereafter,” Closing. Article II of the Agreement is amended and renumbered as follows: The words “(other than those conditions customarily taken and completed on the Closing Date)” are inserted between the words “conditions” and “to” and Article II is renumbered as Section 2.1. The following is inserted as a new Section 2.2 in the Agreement: “The documents, deeds and agreements to be delivered at or prior to Closing pursuant to Section 5.2 and Section 6.2 (collectively, “Deliverables”) shall be signed and delivered to ▇▇▇▇▇▇▇▇ ▇▇▇▇ Advogados at the address stated in Section 2.1 by 8:00 a.m. Brasilia time on the Closing Date. The parties agree and acknowledge that ▇▇▇▇▇▇▇▇ Neto Advogados shall hold the Deliverables in escrow as escrow agent until Sellers receive notice from the receiving bank that the Deposit and the Dollar Equivalent of the Closing Cash Consideration and the Dollar Equivalent of the Preliminary Working Capital Payment have all been received in the accounts identified at Exhibit C of the Agreement (“Receipt of Payment”). Until Receipt of Payment, such amount due to the Sellers on the Closing Date shall remain the irrevocable property of Buyer. Immediately upon Receipt of Payment, the Deliverables shall be automatically released from escrow and the Deliverables owed to each party shall become the property of the respective parties at such time. Upon Receipt of Payment, the parties are irrevocably barred from attempting to rescind the transactions that are the subject of the Agreement.”

REPAYMENT OF DEPOSIT. Upon termination of the Agreement, (a) SYSTRAN may increase the Deposit percentage to 100%, in its sole discretion, and (b) all other sums that may become due to Customer by SYSTRAN will be included in the Deposit. Any shortfall in the Deposit shall bear interest at the rate of four percent (4%) per month.

REPAYMENT OF DEPOSIT. Subject as aforesaid the said deposit shall be refunded to the Tenant by the Landlord without interest within twenty-one (21) days after the expiration or sooner determination of this Agreement and delivery of vacant possession of the said premises to the Landlord OR within twenty-one (21) days of the settlement of the last outstanding claim by the Landlord against the Tenant for any arrears of rent, management and air-conditioning fees, rates and other charges and for damages for any breach non-observance or non-performance of any of the agreements stipulations terms and conditions herein contained and on the part of the Tenant to be observed or performed whichever shall be the later.

REPAYMENT OF DEPOSIT. The Vendors acknowledge and agree that the Deposit is repayable by the Vendors to the Purchaser in circumstances, from the date of signing this Agreement until the earlier of Completion or the Cut Off Date, where: (a) there is a material breach of the Vendors’ or the Company’s obligations under this Agreement prior to Completion (and the Purchaser does not agree to waive that breach and the Condition under clause 2.1(d)); or (b) there is a material breach of one or more Vendor Warranties which is capable of being a Claim (noting the qualifications and limitations in clause 10) prior to Completion (and the Purchaser does not agree to waive that breach and the Condition under clause 2.1(e)), where, in each case, the Vendors must repay their respective Consideration Proportions of the Deposit to the Purchaser within 7 days of written notice from the Purchaser.

REPAYMENT OF DEPOSIT. 27. 1 Should no amount s be owing by the Lessee to the Lessor either f or monies owing and unpaid in terms of this Agreement, or f or the cost s or repair in terms of clause 26. 3, then the Lessor shall pay the f ull amount of the deposit plus any interest thereon to the Lessee within 7 ( sev en) days af ter the termination of this Agreement. 27. 2 Should the Lessor deduct the reasonable cost of repairing damage caused to the Premises or any monies owing by the Lessee in terms of this Agreement f rom the deposit, the Lessor shall pay the balance of the deposit ( if any) and t he interest thereon to the Lessee no later than 14 ( f ourteen) days af ter the restoration of the Premises to the Lessor. 27. 3 Should the Lessee f ail to attend the Outgoing Inspection as contemplated in Clause 26 , the Lessor shall, on termination of the Ag reement, inspect the Premises within sev en ( 7) days f rom the termination date in order to assess any damages or loss which occurred during the Lease Period. W i thout detracting f rom any other r ight or remedy which the Lessor may be entitled to in terms of this Agreement, the Lessor may deduct f rom the Lessee’ s deposit and interest, the reasonable cost of repairing damage to the Premises and the cost of replacing lost keys. The balance of the deposit ( and interest t hereon) shall be ref unded t o the Lessee by the Lessor no later than twenty one ( 21) days af ter the termination. 27. 4 At the request of the Lessee, the Lessor shall make all receipts/ inv oices which indicate the cost of the repairs eff ected in terms of clauses 27. 2 and 27. 3 herein av ailable to the Lessee f or inspection as proof of the costs incurred by the Lessor. 27. 5 Upon f ailure on the side of the lessor to repay the deposit, the lessee shall be entitled to prosecute the matter with any court having jurisdiction on the matter, at the expense o f the