Interest on Deposit. The Deposit shall be held in Escrow in accordance with the provisions of this Agreement in an interest bearing, federally insured account at a bank or other financial institution designated by the Title Company and reasonably acceptable to Buyer, and all interest accruing thereon shall be credited to the account of Buyer, except as otherwise provided herein, and shall be considered to be a part of the Deposit.
Interest on Deposit. The Deposit shall be held by the Title Company as an xxxxxxx money deposit towards the Purchase Price. The Deposit shall be held in Escrow in accordance with the provisions of this Agreement in a federally insured interest bearing account or other investment suitable for daily investment reasonably acceptable to Seller and Buyer (and in any
Interest on Deposit. 3.1. Unless otherwise agreed by the Parties, the Interest rate, which amount is based on on the type, term, amount and currency of the Deposit and which is valid on the date of the Agreement, shall be paid for the Deposit.
Interest on Deposit. 3.2.1 The Seller will procure that the Seller’s Lawyers place the Deposit on interest bearing deposit until the Completion Date.
Interest on Deposit. As set forth in Section 2.1 hereof, any interest earned on the Deposit shall be considered a part of the Deposit; provided, however, that if Closing does not occur for any reason other than a Buyer default, all interest earned on the Deposit shall be credited to Buyer; further provided, however, that such earned interest shall be delivered to Buyer by the Escrow Agent, if at all, in accordance with the terms of Section 12.2.2 hereof.
Interest on Deposit. The parties to this Agreement acknowledge having been advised that Royal LePage Terrequity Realty ("the Brokerage") maintains an Interest Bearing Statutory Trust Account for the benefit of all parties to the transaction. The account earns interest calculated as the Prime Rate for TD Canada Trust less 2.5% calculated on a daily basis, for each full calendar day the money is deposited. In the event Prime rate falls below 2.5% no interest will be earned or paid. The Brokerage calculates and disburses all interest earned to the beneficial owner of the trust money (the "Recipient"). Unless otherwise indicated in the Agreement of Purchase & Sale, the recipient of any interest on trust monies is the Buyer in the transaction. The interest earned is paid to the recipient minus an Administrative Fee as follows: The interest earned on all deposits for a transaction is subject to one Administrative Fee of ninety five dollars ($95.00) per transaction; In the event interest earned equals or does not exceed the Administrative Fee the Administrative Fee will not be charged to the Recipient, no interest will be paid and no statement of accounting will be provided; In the event the interest exceeds the Administrative Fee, the Recipient will be paid the amount of the interest earned less the Administrative Fee and the Recipient will be provided with a statement of accounting; Where the deposit is from a private individual (not a corporation) no interest will be paid to the Recipient unless that Recipient provides the Brokerage with a Social Insurance Number and mailing address for Income Tax purposes, not less than 14 days prior to the transaction closing. This information must be delivered in writing to 000 Xxxxxxxxx Xxxx, Xxxxxxx, Xxxxxxx X0X 0X0.
Interest on Deposit. Any amounts deposited by Xxxxxxx shall be maintained by City in an interest-bearing account of City’s choice, and may be co-mingled with other City funds in such account. Interest accruing upon any such deposits shall inure to and be created for the benefit of City.
Interest on Deposit. Interest on deposits shall accrue at the required statutory rate. Interest on the security deposit will accrue beginning on the date it is paid in full and ending on the date Tenant vacates the Rental Premises.
Interest on Deposit. Whether or not the Closing shall occur hereunder, the party, whether Seller or Purchaser, entitled to receive the Deposit deposited with the Escrow Agent pursuant to SECTION 2.1. shall also be entitled to receive, and Escrow Agent shall deliver to such Person, all interest earned on such sums. The party receiving such sums and interest shall pay any income taxes on such interest. Each party's taxpayer identification number is set forth after the signature of such party at the end of this Agreement. Any such interest shall not be deemed to be a credit to Purchaser against the Purchase Price.
