Examples of Extension Deposit in a sentence
If any underground facilities or any portion thereof are to be installed between December 15 and April 15, the Customer shall, prior to installation of said underground facilities or portion thereof, pay Consumers an additional nonrefundable contribution per trench foot as stated in the "Computation of Electric Distribution System Line Extension Deposit and Contribution" for the portion of said facilities installed during said period (Winter construction/practical difficulties charge).
Closing Closing shall take place through an escrow arrangement with the Escrow Agent on the date which is 30 days after the expiration of the Inspection Period, which may be extended for 30 days by the Purchaser depositing the Closing Extension Deposit as set out in the section headed “Consideration” in this circular.
Buyer shall deposit an additional amount equal to Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) with Escrow Agent on the Phase I Closing Date (the “ Final Deposit ”, and, together with the Initial Deposit, the Additional Deposit, the Extension Deposit (as defined below), if applicable, and any and all interest accrued thereon, the “ Deposit ”).
Extension Deposits shall continue to be made by the Borrowers until the Purchase Date occurs or the Borrowers decline to make an Extension Deposit resulting in the mandatory redemption of the Bonds pursuant to Section 3.01(b) hereof.
If the Purchase Date has not yet occurred and the Borrowers have deferred the Initial Mandatory Redemption Date or any subsequent Mandatory Redemption Date by making an Extension Deposit, the Trustee shall apply amounts on deposit in the Collateral Security Interest Account to pay the preceding month’s accrual of interest on the Bonds on the next Payment Date.