Common use of Performance Deposit Clause in Contracts

Performance Deposit. The Buyer shall deliver at Closing a Performance Deposit in the amount of Ten Thousand and No/100ths ($10,000.00) Dollars ("Deposit"). The Deposit shall serve as security for the performance of the obligations of the Buyer to construct as provided hereinafter. The Seller shall authorized return of the Deposit concurrently with its formal approval of the Certificate pursuant to Section 7 or shall retain the Deposit as liquidated damages in accordance with the provisions of Sections 7 and 15. No interest shall be paid on the deposit. All or part of the Deposit may be retained by the Seller if Buyer fails to complete the Project according to the time schedule provided in Section 2.

Performance Deposit. The Buyer shall deliver at Closing a Performance Deposit in the amount of Ten Thousand and No/100ths ($10,000.00) Dollars ("Deposit"). The Deposit shall serve as security for the performance of the obligations of the Buyer to construct as provided hereinafter. The Seller DCD shall authorized return of the Deposit concurrently with its formal approval of the Certificate of Completion pursuant to Section 7 or shall retain the Deposit as liquidated damages in accordance with the provisions of Sections 7 and 15. No interest shall be paid on the deposit. All or part of the Deposit may be retained by the Seller if Buyer fails to complete the Project according to the time schedule provided in Section 22(a)3.

Performance Deposit. The At Closing, Buyer shall deliver at Closing a Performance Deposit in the amount of Ten Thousand and No/100ths ($10,000.00) Dollars 10% of the Purchase Price ("Deposit"). The Deposit shall serve as security for the performance of the obligations of the Buyer to construct as provided hereinafter. The Seller shall authorized return of the Deposit concurrently with its formal approval of the Certificate pursuant to Section 7 or shall retain the Deposit as liquidated damages in accordance with the provisions of Sections 7 and 15. No interest shall be paid on the depositDeposit. All or part of the Deposit may be retained by the Seller if Buyer ▇▇▇▇▇ fails to complete the Project according to the time schedule provided in Section 2.