STORAGE OF DEPOSIT Sample Clauses

The STORAGE OF DEPOSIT clause defines how and where a security deposit or similar funds are held during the term of an agreement. Typically, it specifies whether the deposit is kept in a separate escrow account, a trust account, or another designated location, and may outline who is responsible for managing the deposit and any interest that accrues. This clause ensures transparency and accountability in the handling of deposits, protecting both parties by clarifying the procedures for safekeeping and eventual return or application of the funds.
POPULAR SAMPLE Copied 1 times
STORAGE OF DEPOSIT. Holder shall safekeep the Deposit in a security vault and exercise the same high standard of care to protect the Deposit which Holder would use to protect items of this nature which Holder might own, but in no event less than that standard of care customary in the industry.
View SourceView Similar (8)
STORAGE OF DEPOSIT. DSI will safe keep the Deposit in a security vault and exercise the same high standard of care to protect the Deposit which DSI would use to protect other items of this nature which DSI might hold, but in no event less than that standard of care customary in the industry.
View Source
STORAGE OF DEPOSIT. [****] will safe keep the Deposit in a security vault and exercise the same high standard of care to protect the Deposit which [****] would use to protect other items of this nature which [****] might hold, but in no event less than that standard of care customary in the industry.
View Source

Related to STORAGE OF DEPOSIT

  • Release of Deposit If DSI does not receive Contrary Instructions from the Depositor, DSI is authorized to release the Deposit Materials to the Preferred Beneficiary or, if more than one beneficiary is registered to the deposit, to release a copy of the Deposit Materials to the Preferred Beneficiary. However, DSI is entitled to receive any fees due DSI before making the release. Any copying expense in excess of $300 will be chargeable to Preferred Beneficiary. This Agreement will terminate upon the release of the Deposit Materials held by DSI.

  • Release of Deposits Escrow Agent will make available for electronic download (unless otherwise requested) to ICANN or its designee, within twenty-­‐four (24) hours, at the Registry Operator’s expense, all Deposits in Escrow Agent’s possession in the event that the Escrow Agent receives a request from Registry Operator to effect such delivery to ICANN, or receives one of the following written notices by ICANN stating that: 6.1. the Registry Agreement has expired without renewal, or been terminated; or 6.2. ICANN has not received a notification as described in Part B, Sections 7.1 and

  • Payment of Deposit That the Licensee have paid / shall pay the above mentioned deposit/premium as mentioned above by Cash. Amount Rs.50000/-(Fifty Thousand Only)

  • Payment of Deposits In the event any depositor does not accept the obligation of the Assuming Institution to pay any Deposit liability of the Failed Bank assumed by the Assuming Institution pursuant to this Agreement and asserts a claim against the Receiver for all or any portion of any such Deposit liability, the Assuming Institution agrees on demand to provide to the Receiver funds sufficient to pay such claim in an amount not in excess of the Deposit liability reflected on the books of the Assuming Institution at the time such claim is made. Upon payment by the Assuming Institution to the Receiver of such amount, the Assuming Institution shall be discharged from any further obligation under this Agreement to pay to any such depositor the amount of such Deposit liability paid to the Receiver.

  • 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.