Deposit Instructions Sample Clauses
The Deposit Instructions clause outlines the procedures and requirements for making a deposit in connection with an agreement or transaction. It typically specifies the amount to be deposited, the method of payment (such as wire transfer or check), the account details where the deposit should be sent, and any deadlines for completing the deposit. This clause ensures that all parties have clear guidance on how and when to provide the required funds, thereby reducing the risk of misunderstandings or delays related to the deposit process.
Deposit Instructions. The Escrow Agent joins hereinbelow to evidence its agreement to hold and disburse such funds in accordance with the terms and conditions of this Agreement. Further, the following provisions shall control with respect to the rights, duties and liabilities of the Escrow Agent.
(a) The Escrow Agent acts hereunder as a depository only and is not responsible or liable in any manner whatsoever for the (i) sufficiency, correctness, genuineness or validity of any written instrument, notice or evidence of a party’s receipt of any instruction or notice which is received by the Escrow Agent, or (ii) identity or authority of any person executing such instruction notice or evidence. Whenever in this Agreement Escrow Agent is required to disburse funds “promptly” or “immediately,” such term shall mean not later than two (2) business days after receipt by Escrow Agent and the other Party of notice from the Party entitled to receive such funds.
(b) The Escrow Agent shall have no responsibility hereunder except for the performance by it in good faith of the acts to be performed by it hereunder, and the Escrow Agent shall have no liability except for its own willful misconduct or gross negligence.
(c) The Escrow Agent shall be reimbursed on an equal basis by Buyer and Seller for any reasonable expenses incurred by the Escrow Agent arising from a dispute with respect to the amount held in escrow, including the cost of any reasonable legal expenses and court costs incurred by the Escrow Agent, should the Escrow Agent deem it necessary to retain an attorney with respect to the disposition of the amount held in escrow.
(d) Subject to Section 3.6 of this Agreement, in the event of a dispute between the parties hereto with respect to the disposition of the amount held in escrow, the Escrow Agent shall take no action and shall continue to hold the Escrow Funds until it has received instructions in writing signed by Seller and Buyer or until directed by final order or judgment of a court of competent jurisdiction, whereupon Escrow Agent shall take such action in accordance with such instructions or order. In the event of a dispute or conflicting demands, or instructions with respect to any portion of the Escrow Funds, Escrow Agent shall be entitled, at its own discretion, to interplead such amount to an appropriate court of law pending resolution of the dispute.
(e) The Escrow Agent shall invest the amount in escrow in accounts which are federally insured or which invest solely in ...
Deposit Instructions. Escrow Agent shall deposit the ▇▇▇▇▇▇▇ Money (or any portion thereof) into an account selected by the Escrow Agent and approved by Purchaser; all interest accrued on the ▇▇▇▇▇▇▇ Money shall be for the account of whichever party becomes entitled to the ▇▇▇▇▇▇▇ Money (or any portion thereof) under any provision of this Agreement, whether or not the provision specifically refers to interest on the ▇▇▇▇▇▇▇ Money. The ▇▇▇▇▇▇▇ Money shall be held by Escrow Agent for the benefit of the parties hereto pursuant to the provisions of Section 25 of this Agreement.
Deposit Instructions. The Escrow Agent joins herein below to evidence its agreement to hold such funds in accordance with the terms and conditions of this Agreement. Further, the following provisions shall control with respect to the rights, duties and liabilities of the Escrow Agent.
Deposit Instructions. If the Closing shall occur, on the Closing Date, Sellers and Purchaser shall jointly instruct the Deposit Escrow Agent to deliver the Deposit Amount, by wire transfer of immediately available funds, to an account of Sellers as set forth in the Deposit Escrow Agreement (and such Deposit Amount shall be applied toward the payment of the Purchase Price).
Deposit Instructions. At Closing, Seller and Purchaser shall jointly instruct the Deposit Escrow Agent to deliver the Deposit Amount, by wire transfer of immediately available funds, to an account designated by Seller in the Deposit Escrow Agreement (and such amount shall be applied towards the payment of the Purchase Price). The costs and expenses of the Deposit Escrow Agent will be paid from and borne solely by the Deposit Amount;
Deposit Instructions. NEW DD Set-Up …CHANGE bank accounts …CANCELLATION of DD
Deposit Instructions. The Escrow Agent joins herein below to evidence its agreement to hold such funds in accordance with the terms and conditions of this Agreement. Further, the following provisions shall control with respect to the rights, duties and liabilities of the Escrow Agent. The Escrow Agent acts hereunder as a depository only and is not responsible or liable in any manner whatsoever for the (a) sufficiency, correctness, genuineness or validity of any written instrument, notice or evidence of a party’s receipt of any instruction or notice which is received by the Escrow Agent, or (b) identity or authority of any person executing such instruction notice or evidence. The Escrow Agent shall have no responsibility hereunder except for the performance by it in good faith of the acts to be performed by it hereunder, and the Escrow Agent shall have no liability except for its own willful misconduct or gross negligence. In the event of a dispute between the parties hereto with respect to the disposition of the Deposit and all other amounts held in escrow, the Escrow Agent shall be entitled, at its own discretion, to deliver such amount to an appropriate court of law pending resolution of the dispute. The Escrow Agent shall invest the amount in escrow in accounts which are federally insured, maintained at a financial institution approved by Seller and Buyer, invested solely in United States Treasury Securities or other government securities which are satisfactory to Seller and Buyer, and applied in accordance with the terms of this Agreement.
Deposit Instructions. The parties shall instruct the Title Company to hold the Deposit in accordance with the terms and conditions of this Agreement, with interest credited to the Purchase Price at Closing. In the event of a dispute between the parties hereto with respect to the disposition of the amount held in escrow, the funds shall be invested in escrow in accounts which are federally insured, which invest solely in government securities, or which are reasonably satisfactory to Seller, and shall be applied in accordance with the terms of this Agreement.
Deposit Instructions. Delivery to Lenders of direction letters with each Sunnova ABS Indenture Trustee substantially in the form of Exhibit E, each dated as of the Funding Date and duly executed by the parties thereto.
Deposit Instructions. The Deposit shall be held by Escrow Agent in accordance with this Section 2.4, and, once made, shall be non-refundable in all instances except (a) if Buyer fails to deliver its Approval Notice on or before the end of the Due Diligence Period in accordance with the terms and conditions of Section 3.7; (b) if the Closing fails to occur solely as a result of a default by Seller hereunder which would give to Buyer the right to terminate this Agreement and which is not cured within all applicable notice and cure periods; (c) if the Closing fails by reason of failure of a condition precedent to Buyer’s obligation to purchase the Property; and (d) as expressly stated otherwise in this Agreement. Upon occurrence of (a) through (d) immediately foregoing, the Independent Consideration shall nevertheless be retained by Seller. Interest earned on the Deposit shall be considered part of the Deposit and shall be deemed to have been earned by, and constitute income of, Buyer. Escrow Agent shall invest the Deposit in accounts that are federally insured, or which invest solely in government securities and shall apply the Deposit strictly in accordance with the terms of this Agreement. If the Deposit is returned to Buyer at any time hereunder other than in the event of a default by Seller, then Escrow Agent shall retain from the Deposit fifty percent (50%) of the escrow fees charged by Escrow Agent for performing its services hereunder, and Seller shall nevertheless retain the Independent Consideration.