Reserve Initial Deposit Sample Clauses
The Reserve Initial Deposit clause establishes the requirement for an upfront payment or deposit to be held in reserve, typically as security for future obligations under an agreement. This deposit is usually paid by one party at the outset of the contract and may be held in a designated account or by a third party, such as an escrow agent. The clause ensures that funds are available to cover potential defaults, damages, or other specified liabilities, thereby providing financial assurance and reducing risk for the party receiving the deposit.
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Reserve Initial Deposit. On the 2017-A Closing Date, the Seller will deposit, or cause to be deposited, the Reserve Initial Deposit into the 2017-A Reserve Account from the net proceeds of the sale of the Notes.
Reserve Initial Deposit. On the 2011-B Closing Date, the Depositor will deposit, or cause to be deposited, the Reserve Initial Deposit into the Reserve Account from the net proceeds of the sale of the Class A Notes.
Reserve Initial Deposit. On the 20[__]-[_] Closing Date, the Seller will deposit, or cause to be deposited, the Reserve Initial Deposit into the 20[__]-[_] Reserve Account from the net proceeds of the sale of the Notes. ARTICLE SIX