Initial Deposit and Reserve Sample Clauses

Initial Deposit and Reserve. Immediately upon commencement of this Agreement, Owner shall remit to Broker the sum of $ as a reserve. Owner shall maintain the reserve stated above at all times in the Account to enable Broker to pay the obligations of Owner under this Agreement as they become due. Broker shall notify Owner if additional funds are required.
Sample 1Sample 2See All (12)
AutoNDA by SimpleDocs
Initial Deposit and Reserve. Immediately upon commencement of this Agreement, Owner shall remit to Broker the sum of Two Hundred Fifty Dollars ($250.00) per unit, as a reserve to hold in the Trust Account for contingencies and routine cash flow fluctuations for the payment of monthly expenses associated with the Property prior to the collection of sufficient monthly rents (“Reserve Amount”). Owner shall maintain the Reserve Amount stated above at all times in the Trust Account to enable Broker to pay the obligations of Owner under this Agreement as they become due. Broker shall promptly notify Owner if additional funds are required, which shall then be remitted by Owner within five (5) business days.
Sample 1
Initial Deposit and Reserve. Immediately upon commencement of this Agreement, Owner shall 28 remit to Broker/Designated Property Manager the sum of $ 300.00 as a reserve. Owner shall maintain 29 the reserve stated above at all times in the Trust Account to enable Broker/Designated Property Manager to pay the 30 obligations of Owner under this Agreement as they become due. Broker/Designated Property Manager shall notify 31 Owner if additional funds are required. 33 (C) Broker/Designated Property Manager is not required to advance funds. If the balance of the 34 Trust Account is at any time insufficient to pay disbursements due and payable, Owner shall, not later than 10 days 35 after notice, remit to Broker/Designated Property Manager sufficient funds to cover the deficiency and replenish the 36 contingency reserve. In no event shall Broker/Designated Property Manager be required to use its own funds to pay 37 such disbursements, nor shall Broker/Designated Property Manager be required to advance any monies to Owner or 38 to the Trust Account. 39
Sample 1
Initial Deposit and Reserve. Immediately upon commencement of this Agreement, Owner shall remit to Landmark the sum of $ as a reserve. Owner shall maintain the reserve stated above at all times in the Trust Account to enable Landmark to pay the obligations of Owner under this Agreement as they become due. Landmark shall notify Owner if additional funds are required.
Sample 1

Related to Initial Deposit and Reserve

  • 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.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Escrow Accounts Subject to the terms of the related Deferred Servicing Agreement, Seller shall be entitled to withdraw funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing Agreement.

  • Reservation Deposit Payment of a deposit secures your reservations. Dates are not held without a reservation deposit. The balance of your reservation fee is due no later than 21 business days prior to your requested reservations. If the balance is not paid in full before that date, your request will be forfeited, and deposit refunded.

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • BIDDING DEPOSIT Subject to Clause 5.1 below, all intending bidders shall deposit with the Auctioneer, prior to the auction sale, a bank draft or cashier’s order drawn in favour of AmBank (M) Berhad for the a/c of IKHMAS JAYA SDN BHD, a Bidding Deposit equivalent to ten per cent (10%) of the Reserve Price or a minimum of RM2,000.00 whichever is higher. Online Bidders are subject to the provisions of Clause(s) 2.4, 2.5 and 2.6 of the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx for the manner of payment of the deposit.

  • Certificates of Deposit The purchase price of a certificate of deposit (a “CD”) is treated as its fair market value on the purchase date if (1) the CD has a fixed interest rate, a fixed payment schedule, and a substantial penalty for early withdrawal, (2) the Yield on the CD is not less than the Yield on reasonably comparable direct obligations of the United States, and (3) the Yield is not less than the highest Yield published or posted by the CD issuer to be currently available on reasonably comparable CDs offered to the public.

  • Deposit A deposit totaling 35% of the agreed upon Total Amount is due with acceptance of rental agreement. Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by traveler's checks, bank money order, wire transfer, or certified check or major credit card. Personal checks will be accepted upon approval; if funds are not credited within Ten days booking will be cancelled. The deposit amount is $_DepositAmount_.

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

Time is Money Join Law Insider Premium to draft better contracts faster.