Minimum Deposit Sample Clauses
The Minimum Deposit clause establishes the lowest amount of money that must be paid upfront by one party, typically as a condition to initiate or secure an agreement. In practice, this clause specifies the exact sum required and the deadline for payment, often applying to rental agreements, service contracts, or purchase arrangements. Its core function is to ensure a baseline financial commitment from the paying party, thereby reducing the risk of default and demonstrating seriousness in proceeding with the transaction.
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Minimum Deposit. Borrower and related entities shall at all times maintain the following minimum deposit with Lender in the amount of $5,000,000.00. If Borrower fails to maintain the minimum deposit amounts for the applicable periods stated herein, Borrower may cure this violation by depositing such amounts required to bring the minimum deposit into compliance within 20 days from the date of such violation.
Minimum Deposit. If the Borrowers shall fail to maintain with the Bank during any calendar quarter non-interest bearing deposits having net collected balances, after charges to compensate Bank for services rendered to Borrowers, of an aggregate amount of $250,000, the Borrowers shall pay to the Bank a fee equal to the amount of such deficit multiplied by a rate per annum equal to the sum of the average daily Wall Street Journal Prime Rate plus 3.00%.
Minimum Deposit. RJK may require that Customer pay a deposit in a specified amount prior to commencing work, with the balance due upon completion. Except as otherwise approved by RJK management, no jobs will be scheduled and/or commenced without a deposit.
Minimum Deposit. Buyer has delivered to the Escrow Agent the Minimum Deposit in immediately available funds pursuant to the Escrow Agreement. The Minimum Deposit shall not be subject to any lien, attachment, trustee process, or any other judicial process of any creditor of any Seller or Buyer. The Parties shall instruct the Escrow Agent to distribute the Minimum Deposit to Sellers at the Closing (which amount shall be deducted from the Purchase Price due and payable by Buyer at the Closing), or, if this Agreement is terminated, treated in the manner set forth in Section 11.2 and the Escrow Agreement. All fees associated with the Escrow Agreement shall be borne by Buyer.
Minimum Deposit. The Borrower shall maintain with Bank average collected demand deposit balances equal to $50,000.00 (the "Minimum Deposit"). Furthermore, if the Borrower does not maintain the Minimum Deposit, Borrower shall pay to Bank, on a quarterly basis, a deficiency fee equal to the Contract Rate plus three percent (3.0%) multiplied by the difference between (i) Borrower's actual average collected balances maintained with the Bank during such period and (ii) the Minimum Deposit. The Borrower shall maintain its main operating account and all other business accounts with the Bank.
Minimum Deposit. Buyer has delivered the Minimum Deposit to a non- interest bearing account designated by the Company in immediately available funds to be held in escrow. The Minimum Deposit shall not be subject to any lien, attachment, trustee process, or any other judicial process of any creditor of any Seller or Buyer. The Minimum Deposit shall be retained by the Company at the Closing for payment to the Agent pursuant to Section 3.3(b) below (and deducted from the Purchase Price due and payable at the Closing) or, if this Agreement is terminated, treated in the manner set forth in Section 11.3(b).
Minimum Deposit. The minimum initial deposit required for each term until its maturity is five hundred dollars ($500).
Minimum Deposit. Establishment of the Maintenance Account in an amount not less than the Minimum Deposit set forth in Article I of this Agreement.
Minimum Deposit. Within five (5) Business Days of entry of the Sale Procedures Order, the Buyers shall deliver to Seller Parent a federal reference number evidencing the wire transfer of a deposit into escrow of an amount in cash equal to Two Million Dollars ($2,000,000) (such amount, the “Minimum Deposit”) in immediately available funds with U.S. Bank National Association (the “Escrow Agent”) pursuant to the terms of an escrow agreement in substantially the form attached hereto as Exhibit 4 (the “Escrow Agreement”) by and among the Escrow Agent, Seller Parent and the US Buyer. Prior to Closing, US Buyer shall prepare and Seller Parent and US Buyer shall execute a Joint Written Direction (as defined in the Escrow Agreement) directing the Escrow Agent to, subject to the occurrence of the Closing, deliver the Minimum Deposit to pay amounts necessary (i) for Full Payment of the DIP Obligations, or (ii) for the Full Payment of Pre-Petition ABL Debt. If this Agreement is terminated pursuant to Section 8.1(d)(i) or (iii) in accordance with Section 8.2(b) (a “Buyer Default Termination”), US Buyer shall prepare and Seller Parent and US Buyer shall execute a Joint Written Direction (as defined in the Escrow Agreement) instructing the Escrow Agent to, within two (2) Business Days after such instruction, pay the Minimum Deposit to Seller Parent, and if this Agreement is terminated for any reason other than Section 8.1(d)(i) or (iii), the Minimum Deposit shall be returned to the Buyers. If this Agreement is terminated prior to Closing for any reason other than a Buyer Default Termination, US Buyer shall prepare and Seller Parent and US Buyer shall execute a Joint Written Direction (as defined in the Escrow Agreement) instructing the Escrow Agent to, within two (2) Business Days after such instruction, return the Minimum Deposit to the Buyer. The Minimum Deposit shall not be subject to any lien, attachment, trustee process or any other judicial process of any creditor of any Seller or the Buyer. The Sellers, on the one hand, and Buyers, on the other hand, shall take, or cause to be taken, all actions, necessary, proper or advisable to consummate the Escrow Agreement and the actions contemplated thereby. All costs associated with the Escrow Agreement shall be borne by the Buyers.
Minimum Deposit. With respect to the Premier Account, the Bank may require the Customer to deposit, within the period designated by the Bank, more than the amount designated by the Bank into the Premier Account and maintain the same.