Second Deposit definition
Examples of Second Deposit in a sentence
As used in this Contract, “Deposit” shall refer collectively to the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any.
The First Deposit and the Second Deposit, together with all interest earned on such sums, are herein referred to collectively as the “▇▇▇▇▇▇▇ Money.” All interest accruing on such sums shall become a part of the ▇▇▇▇▇▇▇ Money and shall be distributed as ▇▇▇▇▇▇▇ Money in accordance with the terms of this Agreement.
Purchaser’s failure to pay either the Initial ▇▇▇▇▇▇▇ Money or the Second Deposit on the applicable date shall constitute a material default by Purchaser under Section 14 below.
The amount of interest calculated under this Section E.5 shall begin to accrue (i) as to the Initial Deposit, on the date this Purchase Agreement is executed by Seller and upon expiration of any rescission period or deemed waiver thereof, and upon ▇▇▇▇▇▇’s deposit of the same into an interest bearing account; and (ii) as to the Second Deposit and the Third Deposit, on the date Escrow deposits the same into an interest bearing account.
The Initial Deposit and Second Deposit are collectively referred to herein as the “Deposit.” All references in this Agreement to the “Deposit” shall mean the Deposit and any and all interest that accrues thereon while in Escrow Holder’s control.