Standard Deposit Clause Samples
The Standard Deposit clause establishes the requirement for a buyer to provide a specified sum of money as a deposit when entering into a contract, typically for the purchase of real estate or goods. This deposit is usually paid upfront and held in trust or escrow until the transaction is completed or terminated according to the contract terms. Its core practical function is to demonstrate the buyer’s commitment to the transaction and to provide the seller with a measure of security in case the buyer fails to fulfill their contractual obligations.
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Standard Deposit. No later than two (2) business days after mutual execution of this Agreement, ▇▇▇▇▇ will deposit with the Escrow Holder (defined below) twenty thousand dollars ($20,000) (the “Standard Deposit”).
Standard Deposit. Deposit Interest is added to the amount accrued in the Deposit Account in the beginning of the tenor, monthly, quarterly or at maturity;
Standard Deposit. Upon execution of this Agreement, Owner shall deposit the sum of $500.00 (the "Standard Deposit") to be held by Manager and applied toward any payments which Manager may make on behalf of Owner, as Manager may reasonably deem necessary or convenient to provide the services and fulfill the other obligations of Manager for the benefit of Owner. Further, Manager shall not be required to maintain the Standard Deposit in a separately designated escrow account, as normally required for such funds, but instead, shall be entitled to hold the Standard Deposit with other deposits made by other property owners pursuant to rental and/or homecare agreements with Manager in one or more working capital accounts of Manager. Manager shall not be required to pay any interest on the Standard Deposit. Within sixty (60) days after the termination or expiration of this Agreement, Manager shall return the balance of the Standard Deposit to Owner.