Contract Deposit definition
Examples of Contract Deposit in a sentence
At Closing, the Contract Deposit shall be paid by Escrowee to Seller or as directed by ▇▇▇▇▇▇.
However, ▇▇▇▇▇▇▇▇ shall have the right at any time to deposit the Contract Deposit and the interest thereon, if any, with the clerk of a court in the county as set forth in ¶ 22 and shall give Notice of such deposit to each Party.
Upon disposition of the Contract Deposit and interest thereon, if any, in accordance with this ¶ 28, Escrowee shall be released and discharged of all escrow obligations and liabilities.
If the Closing does not occur and either Party gives Notice to Escrowee demanding payment of the Contract Deposit, Escrowee shall give prompt Notice to the other Party of such demand.
If the Monthly Rental Assistance Contract Deposit specified in Section 1.03 is greater than zero, then beginning on the First Project Loan Payment Date and continuing on each successive Project Loan Payment Date until the Rental Assistance Contract Reserve equals the Rental Assistance Contract Reserve Cap, Borrower must pay the Monthly Rental Assistance Contract Deposit to Funding Lender for deposit into the Rental Assistance Contract Reserve, together with Borrower’s Monthly Payments.