Treatment of Deposit. The Parties hereto acknowledge that the Prior Share Purchase Agreements contemplated that in the event that for any reason the acquisition of ABS contemplated by the Prior Share Purchase Agreements was not consummated, the Seller would be obligated to refund to Elegance the full amount of the Deposit. In furtherance of the foregoing, the Parties hereto do hereby agree as follows:
Treatment of Deposit. The Deposit shall be paid to Sellers upon cancellation of the Escrow as a result of a Buyer Default. The Deposit shall be returned to Buyer upon cancellation of the Escrow pursuant to Sections 6.1, 14.1, or 16.1. In all other events, the Deposit shall be applied as specified in this Agreement.
Treatment of Deposit. From the date of the expiration of the Waiting Period through and including the Closing Date, Seller shall be entitled to Deposit Withdrawals in the amounts set forth in Section 3(b) above, to pay for third-party expenses incurred by Seller for general design, planning, and construction of capital improvements to the Xxxxxx River Park in Community Board 4 to be funded with the Purchase Price. With respect to all demands by Seller to the Escrow Agent for Deposit Withdrawals, Seller shall have the right to an immediate disbursement by Escrow Agent from the Deposit upon the Seller’s submission to Escrow Agent of: (a) a certification by a duly authorized officer of the Seller of the expenses incurred by Seller for which the Seller seeks payment or reimbursement, and (b) copies of invoices or receipts evidencing such expenses. Seller shall provide to Purchaser a copy of Seller’s proposed certification and copies of such receipts or invoices not less than five (5) business days prior to the submission thereof to Escrow Agent. Should Purchaser request a correction (which correction shall be limited to that of mathematical error) of any demand for payment by the Seller during such five (5) business day period, the Seller shall in good faith consider such request and either (x) modify or correct its demand for payment, or (y) not modify or correct its demand for payment and instead respond to Purchaser setting forth reasons why it is not willing to modify or correct its demand for payment. The obligation of Escrow Agent to disburse funds from the Deposit for any expenses, and the protocol and procedure for effecting same, is as set forth in the Escrow Agreement.
Treatment of Deposit. Subject to the other provisions of this Section 3.3(b), the Deposit shall be applied to the Purchase Price. The Deposit shall be paid to Seller as liquidated damages upon cancellation of the Escrow by Seller following a Buyer Default. Pursuant to Article 14 below, the Deposit shall be returned to Buyer upon cancellation of the Escrow by Buyer (a) pursuant to Section 4.7(a) following a Seller Default, (b) following Buyer’s election to terminate this Agreement due to a condition to Buyer’s obligations under this Agreement as set forth in Section 12.1 not being satisfied prior to the Closing or (c) following the termination of this Agreement pursuant to Section 13.2, 13.3 or 13.4.
Treatment of Deposit. The GE Deposit ($**) and the Loral Deposit ($**) will be held by AvData and applied in accordance with this Section E.3. If Customer makes all payments under this Agreement through September 1, 1999 in a timely manner (without regard to any applicable notice and cure period), then AvData shall apply one-half of the GE Deposit and one-half of the Loral Deposit, respectively, to Customer's account hereunder in accordance with the AvData invoices relating to the three monthly billing cycles immediately following September 1, 1999. To the extent that such amounts are not so applied, AvData shall (i) apply the GE Deposit and the Loral Deposit to Customer's account hereunder in accordance with the AvData final monthly invoices and (ii) refund the balance, if any, to the Customer upon expiration or other termination of the Satellite Capacity to which the GE Deposit and/or the Loral Deposit, respectively, pertain.
Treatment of Deposit. (a) The Deposit will be held in trust by the Vendor's Counsel and invested in an interest bearing account or certificate of deposit with a Canadian chartered bank. Interest on the Deposit will be dealt with in the same manner as the Deposit. The Deposit will be applied to the Purchase Price on the Closing Date unless otherwise stated herein.
Treatment of Deposit. The Deposit shall be paid to Seller as liquidated damages upon cancellation of the Escrow except due to a termination by Buyer pursuant to Section 17.1(a) or 17.1(c). The Deposit shall not be refundable to Buyer for any reason other than a termination by Buyer pursuant to Section 17.1(a) or 17.1(c).
Treatment of Deposit. The Deposit shall be applied to the Purchase Price in the event that the Closing takes place at the time and in the manner provided in this Agreement. The
Treatment of Deposit. (a) Upon the Closing, the Seller shall credit the Deposit toward the Purchase Price.
Treatment of Deposit. Buyer acknowledges that the Deposit is non-refundable to Buyer except as specifically set forth in this Section 5.1(c). The Deposit shall be paid to Seller as liquidated damages upon any cancellation of the Escrow except due to a termination pursuant to Sections 6.2(c), (d), (e), (o) and (v), Section 7.1, Section 9.2, Section 13.9, Section 15.1, or Sections 17.1(a), (c) or (d). The Deposit shall not be refundable to Buyer for any reason other than a termination by Buyer pursuant to Sections 6.2(c),(d), (e), (o) and (v), Section 7.1, Section 9.2, Section 13.9, Section 15.1, or Sections 17.1(a), (c) or (d).
