Signing Deposit Sample Clauses

Signing Deposit. On or prior to the date that is the third (3rd) Business Day following the date of the due execution and delivery of this Agreement, the Purchaser will deposit US$6,316,896 (the “Signing Deposit” and the Aggregate Purchase Price less the Signing Deposit, the “Balance Purchase Price”) by wire transfer of immediately available funds into the account designed by the Seller in accordance with the wire instructions set forth on the Seller’s signature page hereto. For purposes of this Agreement, the term “Business Day” shall mean any day on which banks are not required or authorized to close in (A) the Hong Kong Special Administrative Region of the People’s Republic of China, (B) the Xxxxxx Xxxxxxx xx (X) Xxx Xxxx, Xxx Xxxx, Xxxxxx Xxxxxx of America.
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Signing Deposit. Hanover and Sellers acknowledge that Buyer has previously deposited with Hanover the sum of $50,000, which is being held by Hanover in an interest bearing money market account (the "Signing Deposit"). At the Closing, Buyer shall receive a credit against the Purchase Price for the amount of the Signing Deposit plus all accrued interest thereon. In the event this Agreement is terminated by either party pursuant to Article 8 hereof, Hanover shall promptly return the Signing Deposit and all accrued interest thereon to Buyer, except as otherwise provided in Section 8.2(b) hereof.
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Signing Deposit. Upon execution of this Agreement, the Purchaser shall pay an amount equal to $12.5 million (the “Deposit Amount”) by wire transfer in immediately available funds to an interest bearing account (the “Escrow Account”) maintained by Citibank, N.A., Agency & Trust, as escrow agent (the “Escrow Agent”) pursuant to the terms of the Escrow Agreement. Purchaser shall be treated as the owner of such account for tax purposes and shall be entitled to receive all interest earned on such account. The Deposit Amount shall be released from escrow under the conditions set forth in Sections 2.4 or 10.2 hereof, as the case may be.
Sample 1
Signing Deposit. On or prior to the date that is the third (3rd) Business Day following the date of the due execution and delivery of this Agreement, the Purchaser will deposit US$6,316,896 (the “Signing Deposit” and the Aggregate Purchase Price less the Signing Deposit, the “Balance Purchase Price”) by wire transfer of immediately available funds into the
Sample 1
Signing Deposit. Within one Business Day of the Effective Date, the Buyer shall pay to the Sellers an aggregate amount equal to $10 million (the “ Signing Deposit”) by wire transfers of immediately available funds to accounts and in accordance with allocations as notified by the Sellers to the Buyer, as a deposit for the purchase of the Purchased Assets that shall be refundable to the Buyer subject to the Sellers’ right of set off set forth in the following sentence. If This Agreement is terminated in accordance with Section 8.1 (Termination of Agreement) prior to the Closing, then the Sellers shall set off against the Signing Deposit any amounts that are or become due and payable by the Medtronic Parties or their Affiliates to the Sellers pursuant to the Inter-Party Agreements or the Three-Party Agreement at any time from and including January 1, 2005 through and including the date that is 180 days after the date of such termination. In such event, to the extent that the amount of the Signing Deposit exceeds the amounts that may be set off against it pursuant to the previous sentence (the “Set-Off Amounts”), then within five Business Days after the date that is 180 days after the date of such termination the Sellers shall refund to the Buyer an amount equal to the difference between the Signing Deposit and the Set-Off Amounts. Upon receipt of the Signing Deposit the Sellers shall execute and deliver to the Buyer a receipt for such Signing Deposit. Upon the occurrence of the Closing, the Signing Deposit shall become non-refundable.
Sample 1

Related to Signing Deposit

  • BIDDING DEPOSIT Subject to Clause 5.1 below, all intending bidders shall deposit with the Auctioneer, prior to the auction sale, a bank draft or cashier’s order drawn in favour of AmBank (M) Berhad for the a/c of IKHMAS JAYA SDN BHD, a Bidding Deposit equivalent to ten per cent (10%) of the Reserve Price or a minimum of RM2,000.00 whichever is higher. Online Bidders are subject to the provisions of Clause(s) 2.4, 2.5 and 2.6 of the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx for the manner of payment of the deposit.

  • Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

  • Additional Deposit For reasons of administration, the right is reserved to require payment by parents of an additional deposit (Additional Deposit), as shown on the fees list for the relevant year, in the case of a pupil whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Pupil leaves and will be repaid by means of a credit without interest to the final payment of Fees or other sums due to the School on leaving, unless stated otherwise in these terms and conditions. See also clause 9.8.

  • Disbursements from the Escrow Account a. At such time as Escrow Agent has collected and deposited instruments of payment in the total amount of the Advance and has received such Common Stock via D.W.A.C from the Company which are to be issued to the Investor pursuant to the Standby Equity Distribution Agreement, the Escrow Agent shall notify the Company and the Investor. The Escrow Agent will continue to hold such funds until the Investor and Company execute and deliver a Joint Written Direction directing the Escrow Agent to disburse the Escrow Funds pursuant to Joint Written Direction at which time the Escrow Agent shall wire the Escrow Funds to the Company. In disbursing such funds, Escrow Agent is authorized to rely upon such Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Investor that Escrow Agent already has on file. Simultaneous with delivery of the executed Joint Written Direction to the Escrow Agent the Investor and Company shall execute and deliver a Common Stock Joint Written Direction to the Escrow Agent directing the Escrow Agent to release via D.W.A.C to the Investor the shares of the Company's Common Stock. In releasing such shares of Common Stock the Escrow Agent is authorized to rely upon such Common Stock Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Escrow Agent has on file. In the event the Escrow Agent does not receive the amount of the Advance from the Investor or the shares of Common Stock to be purchased by the Investor from the Company, the Escrow Agent shall notify the Company and the Investor.

  • 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.

  • Establishment of and Deposits to Escrow Account The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan constituting Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts, titled, "National City Mortgage Corp., in trust for the Purchaser of Conventional Residential Fixed Rate Mortgage Loans, Group No. 2001-1 and various Mortgagors". The Escrow Accounts shall be established with a Qualified Depository, in a manner which shall provide maximum available insurance thereunder. Funds deposited in the Escrow Account may be drawn on by the Company in accordance with Section 4.07. The creation of any Escrow Account shall be evidenced by a certification in the form of Exhibit E-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit E-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser. The Company shall deposit in the Escrow Account or Accounts on a daily basis, and retain therein:

  • Establishment of Escrow Accounts; Deposits in Escrow Accounts The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts. A copy of such letter agreement shall be furnished to the Trustee upon request. The Escrow Account shall be an Eligible Account.

  • Deposit A deposit totaling 35% of the agreed upon Total Amount is due with acceptance of rental agreement. Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by traveler's checks, bank money order, wire transfer, or certified check or major credit card. Personal checks will be accepted upon approval; if funds are not credited within Ten days booking will be cancelled. The deposit amount is $_DepositAmount_.

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