Net Deposit Clause Samples

The Net Deposit clause defines how the total amount of funds to be deposited is calculated after accounting for deductions such as fees, taxes, or other agreed-upon offsets. In practice, this means that the party responsible for making a deposit will only be required to transfer the net amount remaining after these deductions, rather than the gross sum. This clause ensures that both parties have a clear understanding of the actual funds to be transferred, reducing the risk of disputes over payment amounts and simplifying the reconciliation process.
Net Deposit. The Net Deposit is the actual deposit minus a charge to pay premium taxes, if any. As a rule, Aetna will take this charge out of an Individual Account Reserve (see below) when annuity payments are to start. But, if Aetna determines that it must pay any imposed premium tax at any other time, it may take out the charge at any time.
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Net Deposit. In the event Seller is entitled to retain the Deposit or Buyer is entitled to a refund of the Deposit, the amount retained or refunded will be the Deposit less any title and escrow fees charged by Escrow Agent (the “Net Deposit”).
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Related to Net Deposit

  • Net Deposits As an administrative convenience, unless the Servicer is required to remit collections within two Business Days of the Posted Date, the Servicer will be permitted to make the deposit of collections net of distributions, if any, to be made to the Servicer with respect to the Collection Period. The Servicer, however, will account to the Trustee, the Indenture Trustee, the Noteholders and the Certificateholders as if all deposits, distributions and transfers were made individually.

  • Direct Deposit If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (▇▇▇) ▇▇▇-▇▇▇▇. This does not apply to transactions occurring outside the United States.

  • Cash Deposit No cash will be deposited into the certificate account on the closing date.

  • 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.

  • Unused Escrow Funds In the event that a Closing does not occur when required under the Contract, or in the event that the Closing does occur but Escrow Funds remain in an account with Escrow Agent, the Escrow Agent shall notify OPWC in writing promptly thereafter. After receipt of such notice, OPWC shall deliver written instructions to Escrow Agent directing Escrow Agent’s release of the Escrow Funds. Immediately upon Escrow Agent’s receipt of such notice from OPWC, Escrow Agent shall release the Escrow Funds, or balance thereof, in accordance with OPWC’s written instructions.