Initial Deposit and Draws Sample Clauses

The "Initial Deposit and Draws" clause defines how and when payments are made by the buyer to the seller or contractor during the course of a project. Typically, it requires an upfront payment (the initial deposit) before work begins, followed by additional payments (draws) at specified milestones or upon completion of certain stages of work. This structure ensures that the contractor has funds available to cover costs as the project progresses and provides the buyer with a clear schedule for payments. The core function of this clause is to manage cash flow and reduce financial risk for both parties by establishing a predictable payment process tied to project progress.
Initial Deposit and Draws. Concurrently with the execution of this Agreement, Interconnection Customer shall pay to IPA a deposit in the amount specified in the Procedures, against which IPA will draw in order to reimburse IPA for the costs incurred in connection with its performance of this Agreement.
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Initial Deposit and Draws. Concurrently with the execution of this Agreement, Transmission Developer shall pay to IPA an initial deposit for the Facilities Study in the amount specified in the Deposit Amount Schedule of the Procedures, against which IPA will draw in order to reimburse IPA for the costs incurred in connection with its performance of this Agreement. The initial deposit shall not include any estimates of costs incurred by affected systems (i.e., other Transmission Providers, RTOs or ISOs). The Transmission Developer is responsible for the actual costs incurred by IPA and the Operating Agent for the Facilities Study. When the initial deposit has been drawn down to a remainder of twenty-five percent (25%) of the amount deposited by Transmission Developer, IPA shall provide Transmission Developer in writing with a good faith estimate of the expected remaining study costs to complete the Facilities Study, and the Transmission Developer shall pay IPA that amount as an additional study deposit within thirty (30) calendar days.
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Related to Initial Deposit and Draws

  • 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.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Deposit and Disbursement Accounts Disclosure Schedule (3.19) lists all banks and other financial institutions at which any Credit Party maintains deposit or other accounts as of the Closing Date, including any Disbursement Accounts, and such Schedule correctly identifies the name, address and telephone number of each depository, the name in which the account is held, a description of the purpose of the account, and the complete account number therefor.

  • Deposit and Securities Accounts (Please list all accounts; attach separate sheet if additional space needed)

  • Additional Deposit For reasons of administration, the right is reserved to require payment of an Additional Deposit, as shown on the Fees List for the relevant year, as an additional deposit in the case of a pupil whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Pupil leaves and will be repaid by means of a credit without interest to the final payment of Fees or other sums due to the School on leaving, unless stated otherwise in these terms and conditions. See also Clause 8.7