Securing Deposit Clause Samples

A Securing Deposit clause requires one party, typically a tenant or buyer, to provide a sum of money as a security measure to the other party, usually a landlord or seller, at the start of an agreement. This deposit is held to cover potential damages, unpaid rent, or other breaches of contract terms during the agreement period. By establishing a financial safeguard, the clause ensures that the party receiving the deposit has recourse if the other party fails to meet their obligations, thereby reducing financial risk and encouraging compliance with the contract.
Securing Deposit. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the City for payment, if they are registrable for payment, and in such event shall obtain the necessary endorsements from the duly authorized officials of the City as they become due. B. The City, in connection with any Federal Securities accounted for in the Escrow Account and held as book-entries, shall cooperate with the Escrow Bank and shall forthwith make arrangements with an appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the City. C. All uninvested money, in excess of FDIC insurance coverage, held at any time in the Escrow Account shall be continuously secured by the deposit of Federal Securities in a principal amount and value always not less than the total amount of uninvested money in the Escrow Account: (1) In any branch of the Federal Reserve Bank, or (2) In any commercial bank which: (a) Is a state or national bank or trust company, and (b) Is a member of the Federal Deposit Insurance Corporation, and (c) Is a member of the Federal Reserve System, and (d) Has a capital and surplus of $10,000,000.00 or more, and (e) Is exercising full and complete trust powers, and (f) Is located in the State or without the State (“trust bank”), or (3) In any branch of the Federal Reserve Bank and in one or more trust banks (or any combination thereof). D. Such Federal Securities so held as a pledge shall be used whenever necessary to enable the Trustee to pay the Refunded Certificate Requirements as the same become due, to the extent other moneys are not transferred or caused to be transferred for such purpose by the Escrow Bank. E. Any Federal Securities (except as they may be held as book-entries) and any uninvested moneys accounted for in the Escrow Account may from time to time be placed by the Escrow Bank for safekeeping wholly or in part in any such trust bank, only if prior to any such transfer the City Manager consents thereto in writing. F. Each such trust bank holding any Federal Securities accounted for in the Escrow Account or any uninvested moneys accounted for therein, shall be furnished by the Escrow Bank with a copy of this Escrow Agreement prior to such deposit. G. By the acceptance of such Federal Securities or such uninvested m...
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Securing Deposit. Tenant shall deposit with Landlord $9,000.00 security deposit as follows; on the signing of this lease the sum of $6,000, upon completion of construction, $3,000.00 additional security is not dependent upon completion of cosmetic touches, including painting. Deposit will not accrue interest. Deposit is security for the performance of Tenant obligations under this lease, including without limitation the surrender of possession of the premises to Landlord as herein provided. If landlord applies any part of the deposit to cure any default of Tenant, Tenant shall on demand deposit with Landlord the amount so applied so that Landlord shall have the full deposit amount at all times during the term of this lease Option to renew. Provided that Tenant is not in default in the performance of this lease, Tenant shall have the option to renew the lease for an additional term of thirty six months commencing at the expiration of the initial lease term. All of the terms and conditions of the lease shall apply during the renewal term except that he monthly rent shall be the sum of $3400 plus a cost of living increase (based on CPI) + $1600 to reflect increases in taxes, utilities and garbage of 1995 base year using 1995 as the base year, for 1996 (and base year of 1996 for 1997 rent). Should taxes or any significant expensable service increase substantially more than the cost of living Elite will be assessed 20% of the increase over and above the CPI. The option shall be exercise by written notice given to Landlord not less than 90 days prior to the expiration of the initial lease term. If notice is not given in the manner provided herein within the time specified, this option shall expire.
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Securing Deposit. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the Escrow Bank for payment, if they are registrable for payment. B. No money paid into and accounted for in the Escrow Account shall ever be considered as an asset of the Escrow Bank and the Escrow Bank shall have no right or title with respect thereto except as provided herein.
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Securing Deposit. A. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the City for payment, if they are registrable for payment, and in such event shall obtain the necessary endorsements from the duly authorized officials of the City as they become due. B. B. The City, in connection with any Federal Securities accounted for in the Escrow Account and held as book-entries, shall cooperate with the Escrow Bank and shall forthwith make arrangements with an appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the City.
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Securing Deposit. (a) The Escrow Bank shall cause any Federal Securities held by it in the Escrow Accounts to be registered in the name of the Board for payment, if they are registrable for payment, and shall obtain the necessary endorsements from the duly authorized officers of the Board as they become due. (b) The Board, acting by and through the Board Representative, or otherwise, in connection with any such Federal Securities accounted for in the Escrow Accounts and issued by the federal government in book-entry form in the records of the Department of the Treasury, in Washington, D.C., or otherwise, shall cooperate with the Escrow Bank and shall forthwith make arrangements with the Bureau of the Public Debt, U.S. Department of the Treasury, or with another appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities designated in this section shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the Board, and the Escrow Bank shall promptly, upon the receipt of the same, credit the same to, account therefor in, and withdraw the same from, the Escrow Accounts, as provided in this Agreement and the Bond Resolution. (c) All uninvested moneys held at any time in the Escrow Accounts shall be continuously secured by the deposit of Federal Securities in a principal amount and value always not less than the total amount of uninvested moneys in the Escrow Accounts: (i) in any branch of the Federal Reserve Bank, or (ii) in any commercial bank, which bank: (A) is a state or national bank or trust company, and (B) is a member of the Federal Deposit Insurance Corporation, and (C) is a member of the Federal Reserve System, and (D) has a shareholders’ equity of $15,000,000 or more, and (E) is exercising full and complete trust powers, and (F) may be located in the State of Colorado or without the State of Colorado (herein a “trust bank”), or (iii) in any branch of the Federal Reserve Bank and in one or more trust banks (or any combination thereof). (d) Such Federal Securities so held as a pledge shall be used whenever necessary to pay the respective Defeased Bonds Payments as the same become due, to the extent such uninvested moneys accounted for in the respective Escrow Accounts are for any reason not available to make such payments. (e) Any Federal Securities (except as otherwise provided in Paragraph (a) of Section 2 of this Agreement) and any uninve...
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Securing Deposit. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the Agency for payment, if they are registrable for payment, and in such event shall obtain the necessary endorsements from the duly authorized officials of the Agency as they become due. B. The Agency, in connection with any Federal Securities accounted for in the Escrow Account and held as book-entries, shall cooperate with the Escrow Bank and shall forthwith make arrangements with an appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the Agency. C. All uninvested money held at any time in the Escrow Account shall be continuously secured by the deposit of Federal Securities in a principal amount and value always not less than the total amount of uninvested money in the Escrow Account: (1) In any branch of the Federal Reserve Bank, or (2) In any commercial bank which: (a) Is a state or national bank or trust company, and (b) Is a member of the Federal Deposit Insurance Corporation, and
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Related to Securing Deposit

  • BIDDING DEPOSIT Subject to Clause 5.1 below, all intending bidders shall deposit with the Auctioneer, prior to the auction sale, a bank draft or cashier’s order drawn in favour of AmBank (M) Berhad for the a/c of IKHMAS JAYA SDN BHD, a Bidding Deposit equivalent to ten per cent (10%) of the Reserve Price or a minimum of RM2,000.00 whichever is higher. Online Bidders are subject to the provisions of Clause(s) 2.4, 2.5 and 2.6 of the Terms and Conditions on ▇▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.▇▇ for the manner of payment of the deposit.

  • 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.

  • Deposits into Escrow Account (a) Issuer Party shall direct Subscribers to, and Subscribers shall, directly deliver to NCPS all Cash Investment Instruments for deposit in the Escrow Account. Each such direction shall be accompanied by a Subscription Accounting. ALL FUNDS DEPOSITED INTO THE ESCROW ACCOUNT PURSUANT TO THIS SECTION 3 SHALL REMAIN THE PROPERTY OF EACH SUBSCRIBER ACCORDING TO SUCH SUBSCRIBER’S INTEREST AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY NCPS OR BY JUDGMENT OR CREDITORS’ CLAIMS AGAINST ISSUER PARTY UNTIL RELEASED OR ELIGIBLE TO BE RELEASED TO ISSUER IN ACCORDANCE WITH SECTION 4(a). ISSUER PARTY SHALL NOT RECEIVE CASH INVESTMENT INSTRUMENTS DIRECTLY FROM SUBSCRIBERS. (b) Issuer Party understands and agrees that all Cash Investment Instruments received by NCPS pursuant to this Agreement are subject to collection requirements of presentment, clearing and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. NCPS shall process each Cash Investment Instrument for collection promptly upon receipt, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4. If, upon presentment for payment, any Cash Investment Instrument is dishonored, NCPS’s sole obligation shall be to notify Issuer Party of such dishonor and, if applicable, to promptly return such Cash Investment Instrument to Subscriber. Notwithstanding, if for any reason any Cash Investment Instrument is uncollectible after payment or disbursement of the funds represented thereby has been made by NCPS, Issuer Party shall immediately reimburse NCPS upon receipt from NCPS of written notice thereof, including, without limitation, any fees or expenses with respect thereto, which NCPS may collect from Issuer Party pursuant to Section 10. (c) Upon receipt of any Cash Investment Instrument that represents payment of an amount less than or greater than the Cash Investment, NCPS’s sole obligation shall be to notify Issuer Party, depending upon the source of the of the Cash Investment Instrument, of such fact and to pay to Subscriber by the same method the amount of the Cash Investment received by NCPS from such Subscriber or promptly return to Subscriber such Subscriber’s Cash Investment Instrument upon receipt from Subscriber of any required payment instructions; provided that amounts in excess of $25,000 will be returned via wire transfer upon confirmation by NCPS of Subscriber’s account information. (d) NCPS shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not properly made payable or endorsed as set forth in Section 1(d). (e) Issuer Party shall, or cause Subscriber to, provide NCPS with information sufficient to effect such return to Subscriber as outlined in this Section 3, including, without limitation, updated payment information in the event a return to Subscriber for any reason cannot be made by the same method as received by NCPS. (f) In the event any party other than NCPS receives a Cash Investment Instrument, Issuer Party agrees to promptly, and in no event later than one Business Day after receipt, deliver or cause to be delivered such Cash Investment Instrument to NCPS for deposit into the Escrow Account.

  • 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

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.