Termination Deposit Sample Clauses

Termination Deposit. Within seven (7) Business Days following the Effective Date, AIR shall deliver to a national title insurance company, as escrow agent (“Escrow Agent”), a deposit equal to the amount of TEN MILLION and 00/100 DOLLARS ($10,000,000.00) (such amount together with all interest accrued thereon, the “Termination Deposit”), pursuant to the terms of a customary escrow agreement entered into with Escrow Agent (the “Escrow Agreement”). Upon delivery of the Termination Deposit to Escrow Agent, the Termination Deposit shall be non-refundable to AIR, except as expressly set forth in this Section 1. The Termination Deposit shall be deposited by Escrow Agent in an interest bearing account at a federally insured banking institution acceptable to the parties hereto, and any interest earned thereon shall be reported under the United States Taxpayer Identification Number of Aimco (unless AIR is entitled to a return of the Termination Deposit pursuant to the terms hereof). The Termination Deposit shall be credited to the Termination Payment due from AIR to Aimco. If AIR fails to timely deliver the Termination Deposit, then Aimco, at Aimco’s sole option, may terminate this Termination Agreement immediately by giving AIR written notice of such termination, and thereafter, this Termination Agreement shall be of no further force or effect. If AIR shall default in its obligation to terminate each Master Lease and Guaranty by the Termination Date pursuant to the terms hereof, then Aimco shall be entitled to retain the Termination Deposit as liquidated damages. If Aimco shall default in its obligation to terminate each Master Lease and Guaranty by the Termination Date pursuant to the terms hereof, then AIR shall be entitled to the return of the Termination Deposit.
Sample 1
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Termination Deposit. Carso shall deliver at Closing to each ------------------- Seller the sum of $500,000 (collectively, the "Termination Deposit"), which shall be held by Sellers, subject to the provisions of this Section 2, as collateral security for the obligations of PSC set forth in Section 2(a) above and Section 2(d) below. PSC shall be entitled to return of the Termination Deposit upon termination of the Lease on or prior to December 31, 1997 in accordance with its terms and after satisfaction (including but not limited to timely vacating the premises covered by the Lease on or prior to December 31, 1997) of all of PSC's obligations under the Lease ("Lease Termination"). PSC shall, as a condition precedent to its right to return of the Termination Deposit based on Lease Termination, deliver to Sellers a certificate, addressed to Sellers and signed by the chief financial officer or chief executive officer of PSC, stating that, as of the date of such certificate, PSC has (i) timely vacated the premises covered by the Lease as of a date on or prior to December 31, 1997, (ii) timely performed all of its obligations under the Lease and is not in default under the Lease, and (iii) timely complied with all of the provisions of the Lease required to terminate, and has terminated, the Lease as of a date on or prior to December 31, 1997.
Sample 1
Termination Deposit. In addition to its other obligations to make deposits hereunder, Telematics shall ensure that, forthwith following termination of this Agreement and/or the CIH Agreement, due to a breach by Telematics, Telematics shall deposit all amendments to the Transponder Documents since the last deposit, and warrants that any deposits made pursuant to this Section will be complete in accordance with the terms hereof and shall be sufficient as contemplated by the Section above.
Sample 1
Termination Deposit. If, on or before the expiration of the Inspection Period, (i) Purchaser determines, in its sole and absolute discretion, that the Assets are not suitable for Purchaser's intended use and notifies Seller in writing of Purchaser's election to terminate this Agreement, or (ii) Purchaser fails to timely pay the Deposit into the Title Company escrow or causes the delay of the payment of the Deposit to Seller from the escrow pursuant to subsection 2.2(a), then this Agreement shall terminate, the Title Company shall return those portions of the Deposit which were not paid to Seller (or required by subsection 2.2(a) to be paid to Seller) to Purchaser, and Purchaser and Seller shall be relieved from any further liability hereunder, except for the Surviving Obligations, which shall survive in any event. If neither of the occurrences set forth in clauses (i) or (ii) occur, then this Agreement shall remain in full force and effect and Purchaser shall be deemed to have approved the results of all of its inspections.
Sample 1

Related to Termination Deposit

  • Additional Deposit Unless Buyer terminates this Agreement in accordance with the terms of Section 4.2, then upon the expiration of the Due Diligence Deadline: (a) the Initial Deposit shall become non-refundable to Buyer except in the event of the Seller's breach or as otherwise expressly provided in this Agreement, and (b) within two (2) Business Days after the expiration of the Due Diligence Deadline, Buyer shall deposit the Additional Deposit with Escrow Holder by wire transfer of immediately available funds and the Additional Deposit shall be non-refundable to Buyer except in the event of Seller's breach or as otherwise expressly provided in this Agreement. The Initial Deposit and, when made, the Additional Deposit, and, if made, the Extension Deposit, are collectively referred to herein as the "Deposit" and shall include all interest which accrues thereon while held by Escrow Holder. Upon the Closing, the Deposit shall be credited to the Purchase Price. Unless Buyer terminates this Agreement in accordance with the terms of Section 4.2, then upon the expiration of the Due Diligence Deadline if Buyer thereafter fails to deliver the Additional Deposit into the Escrow Account strictly as and when contemplated herein or if Buyer fails to deliver the “Additional Deposit” into Escrow as defined in and set forth in the Parallel Agreement, such failure shall constitute a material breach of this Agreement by Buyer and Seller shall have the right, by delivering written notice to Escrow Holder and Buyer within five (5) days after such failure, to terminate this Agreement and receive and retain the Initial Deposit as liquidated damages pursuant to Section 5.1 below, and thereafter neither party shall have any further rights or obligations hereunder except for the Surviving Obligations.

  • Lease Deposit Upon the execution hereof, Lessor shall loan Lessee an amount equal to twenty-five percent (25%) of the first full year's Base Rent (the "Lease Deposit"). The Lease Deposit shall be held by Lessor as security for the performance by Lessee of Lessee's covenants and obligations under the Lease. The Lease Deposit shall not be considered an advance payment of rental or a measure of Lessor's damages in case of default by Lessee. Lessor may, from time to time, without prejudice to any other remedy, use the proceeds thereof to make good any arrearages of Rent, to satisfy any other covenant or obligation of Lessee hereunder or to compensate Lessor for any other loss or damage which Lessor may suffer by reason of any default by Lessee. Following any such use of the Lease Deposit by the Lessor, Lessee shall deliver to Lessor on demand an amount sufficient to restore the aggregate amount held by Lessor, not including any interest earned on the Lease Deposit, to the amount of the original Lease Deposit. If Lessee is not in default at the termination of the Lease, and has complied with all of the provisions of this Lease to be performed by Lessee, including surrender of the Leased Property in accordance with the provisions hereof and has repaid the loan of the Lease Deposit, the Lease Deposit, not including any interest earned on such Lease Deposit, shall be returned by Lessor to Lessee, subject to any draws which have previously been made by Lessor against the Lease Deposit and not replenished by the Lessee. Lessee will not assign or encumber Lessee's interest in the Lease Deposit, and neither Lessor nor Lessor's successors or assigns will be bound by any such attempted assignment or encumbrance of the Lease Deposit. Any interest earned on the Lease Deposit will be for the sole benefit of the Lessor and shall not in any way reduce any amounts owed by Lessee under the terms hereof.

  • 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.

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.

  • Cash Deposit No cash will be deposited into the certificate account on the closing date.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Termination; Repayment The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable.

  • Additional Deposits (a) The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date on which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables and the aggregate Sale Amounts with respect to Sold Receivables.

  • 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.

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