Use of the Deposit Clause Samples

The 'Use of the Deposit' clause defines how a deposit paid by one party, typically the buyer, may be held and utilized during the course of an agreement. It specifies whether the deposit is held in escrow, applied toward the purchase price, or used to cover damages or costs in case of default. For example, the clause may state that the deposit will be returned if the transaction is completed or forfeited if the buyer fails to fulfill their obligations. This clause ensures clarity regarding the handling of the deposit, protecting both parties' interests and reducing the risk of disputes over the funds.
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Use of the Deposit. (a) The Deposit shall be available after the end of the Tenancy and with the written consent of both parties to set against any breaches of the Agreement, including: i. any damage, or compensation for damage, to the Property its fixtures and fittings or for missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear and the age and condition of each and any such item at the commencement of the Tenancy; ii. the Landlord’s reasonable costs or damages caused directly by the major breach of the Agreement by the Tenant of the Tenant's obligations, including those relating to the cleaning of the Property and its fixtures and fittings. iii. any unpaid accounts for utilities, water charges, sewerage, environmental services or other similar services or Council Tax incurred at the Property for which the Tenant is liable; iv. any outstanding Rent or other money due or payable by the Tenant under the Tenancy Agreement of which the Tenant has been made aware and which remains unpaid after the end of the Tenancy.
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Use of the Deposit. Any deposit placed by the Agent for each Agent Account SHALL NOT be treated as payment towards any arrears of payment due from the Agent to AGR herein. AGR shall not be obliged to place the deposit paid by the Agent into any interest-bearing account. The deposit amount shall be maintained throughout the validity of this agreement and shall not be treated as a set off by the Agent at any time. AGR reserves the right to request the Agent to increase the deposit sum. AGR shall also have the right (and such right shall not extend to the Agent) to use the deposit sum towards satisfaction of any liability or outstanding debt of the Agent, whether past, present or future.
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Use of the Deposit. Immediately upon receipt of the Initial Deposit, the Escrow Holder shall invest these funds in a federally insured deposit account approved by Buyer. Interest accrued on the Deposit shall be applied to and become a part of the Deposit. Once the Deposit is received by Escrow Holder, Buyer may at any time request Escrow Holder pay Application Costs, as defined below, using the Deposit funds (“Draw Request”). Draw Requests shall include the invoice, contract, or other supporting data to evidence that all costs are only used for Application Costs. In no event shall the aggregate amount of all Draw Requests exceed Two Hundred Ninety Thousand Dollars ($290,000.00). Upon the close of Escrow for this transaction (“Closing”), any unspent remaining amounts of the Deposit shall be applied to the Purchase Price.
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Use of the Deposit. 5.2.1. The Deposit shall be held by DPS throughout the Tenancy and will be available after the end of the Tenancy with the written consent of both parties which must be given to DPS to set against any breaches of the Agreement, including the following: 5.2.1.1. any damage, or compensation for damage, to the Property or the Contents or for missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear and the age and condition of each and any such item at the commencement of the Tenancy; 5.2.1.2. the Landlord’s reasonable costs or damages caused directly by the major breach of the Agreement by the Tenant of the Tenant's obligations, including those relating to the cleaning of the Property and the Contents; 5.2.1.3. any damage caused or cleaning required due to pets, animals, reptiles, birds, or fish occupying the Property whether or not the Landlord consented to its presence; 5.2.1.4. any sum repayable by the Landlord to the local authority where housing benefit or local housing allowance has been paid direct to the Landlord, by the local authority; 5.2.1.5. any other breach by the Tenant of the obligations of this Agreement; 5.2.1.6. any unpaid accounts for utilities, water charges, sewerage, environmental services or other similar services or Council Tax incurred at the Property for which the Tenant is liable; Note, the tenant will be held liable to council tax for any period before the tenancy formally ends even if they are not residing at the property; for example, if the tenant chooses to vacate early, or abandons the tenancy. 5.2.1.7. any outstanding Rent or other money due or payable by the Tenant under the Tenancy Agreement of which the Tenant has been made aware and which remains unpaid after the end of the Tenancy. 5.2.1.8. If any sums are recoverable under the deposit due to damage to the property or it’s fixtures, fittings or contents as a result of the tenant’s actions (over and above fair wear and tear) and/or sums are recoverable due to the tenant failing to provide the property back to the landlord to a clean standard, then an administration charge of £50 will be recoverable where the landlord/agent has to make necessary arrangements for the property to be returned to its former condition.
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Use of the Deposit. If Transferor is liable to indemnify Transferee with respect to any liability owed to Transferee for breach of the Transition Services Agreement (including breach of Transferor’s obligation to remit the account receivables under item 1.(a) (i), Section II of Exhibit A of the Transition Services Agreement) notified by Transferee to Transferor in writing before the Release Date defined in Section 2.6 (c) , the amount of such liability owed by Transferor to Transferee which has either been (i) agreed between the Parties and /or (ii) finally determined by the court shall be released to Transferee from the Deposit, and the Parties shall provide joint instructions to the Escrow Agent to release and remit such amount to Transferee in accordance with the Escrow Agreement.
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Use of the Deposit. In the event of any Tenant liability as set out in 3.1 above, the Landlord will contact the Council prior to any contractor being engaged to agree liability, seek quotations and confirm prices.
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Use of the Deposit. The Deposit shall be held by DPS throughout the Tenancy and will be available after the end of the Tenancy with the written consent of both parties which must be given to DPS to set against any breaches of the Agreement, including the following: any damage, or compensation for damage, to the Property or the Contents or for missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear and the age and condition of each and any such item at the commencement of the Tenancy; the Landlord’s reasonable costs or damages caused directly by the major breach of the Agreement by the Tenant of the Tenant's obligations, including those relating to the cleaning of the Property and the Contents; any damage caused or cleaning required due to pets, animals, reptiles, birds, or fish occupying the Property whether or not the Landlord consented to its presence; any sum repayable by the Landlord to the local authority where housing benefit or local housing allowance has been paid direct to the Landlord, by the local authority; any other breach by the Tenant of the obligations of this Agreement; any unpaid accounts for utilities, water charges, sewerage, environmental services or other similar services or Council Tax incurred at the Property for which the Tenant is liable; any outstanding Rent or other money due or payable by the Tenant under the Tenancy Agreement of which the Tenant has been made aware and which remains unpaid after the end of the Tenancy.
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Related to Use of the Deposit

  • Links from the Website If the Website contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third-party websites linked to this Website, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.

  • Use of the Card 1. The Cardmember must sign the Card in ink, using a ball point pen, as soon as he or she receives it; the Cardmember must also safeguard the Card and preserve any PIN in extreme secrecy and keep it separate from his or her Card. The Cardmember must not use the Card after the expiration of the validity period embossed on it, and not use the Card after it has been damaged, withdrawn or cancelled. 2. Although the Cardmember has the right to use the Card, the Card shall at all times remain the property of AEME. The Cardmember must surrender the Card immediately upon any request by AEME, any Service Establishment or any other representative of AEME, based on AEME's instructions. A Service Establishment or any other representative of AEME may at its discretion, and after instructions by AEME, withdraw, hold and keep the Card on behalf of AEME. 3. The Cardmember is the only person authorized to use the Card for Transactions including Cash Withdrawals, identification or any other purpose. The Cardmember must not allow any other person to use the Card or the PIN. The Cardmember must safeguard the Card from misuse by retaining the Card under his or her personal control at all times. 4. The Card is issued to the Cardmember solely for the purposes of Transactions and Cash Withdrawals on behalf of the Company. 5. If the Cardmember uses the Card to buy goods or services from a Service Establishment on a frequent or recurring basis (e.g. subscription to periodicals, TV channels, and the like) ("Recurring Charges") or if the Cardmember uses the Card to buy goods or services on installments or on a premium basis (e.g. insurance) the Cardmember authorizes AEME to pay all such Recurring Charges or periodical premiums or installments on his or her behalf at the request of the Service Establishment, and the Company undertakes to repay AEME accordingly. The Cardmember must inform the Service Establishment and AEME in writing if the Cardmember wishes to stop any such periodical payments. AEME shall not be responsible for any breach, cancellation or termination of any legal arrangement or relationship (e.g. insurance policy) resulting from AEME's inability to pay the said Charges because the Cardmember's Account is in overdue status. AEME shall not be liable for any damages of any nature if AEME fails to pay or delays the payment of any Charges, installments or premiums because of any technical failure, error or for any reason beyond AEME's reasonable control. 6. Owners of Service Establishments who are Cardmembers are not allowed to use their Cards in their own Service Establishments. The Cardmember is not allowed to utilize the Card to fund any part of, or to meet the working capital requirements of his or her business. 7. The Company is solely liable for all amounts due on the Account and for all Charges incurred on the Card issued to the Cardmember. 8. The Cardmember is not entitled to use the Card to withdraw or extract cash in Service Establishments, and shall only use the Card to purchase goods or services. 9. The Cardmember shall not use the Card as payment for any illegal or unlawful purchases or services and is responsible for any use that is in violation of any local or other laws and regulations. The Cardmember further agrees to indemnify AEME for any action whatsoever that may arise as a result of such Transactions. 10. The Cardmember expressly authorizes AEME to use the information provided by the Cardmember for AEME's targeted promotional activities including without limitation, promotional activities conducted in conjunction with third parties selected by AEME, for third party researches and surveys, in accordance with the limitations of the applicable laws. 11. The Cardmember agrees to follow the Card activation procedures laid down by AEME from time to time and shall also be subject to any identity checks and verifications by AEME and or any third parties (e.g. credit bureaus, government agencies, Service Establishments, etc). 12. All Charges will be debited to the Account in the billing currency (i.e. USD). Any Transactions that are effected in currencies other than the billing currency will be debited to the Account after conversion as set forth in Clause 4.

  • USE OF THE VEHICLE 15.1 The Customer agrees that, during the Rental Period, the Customer will not allow the Vehicle to be: (a) driven otherwise than in a prudent and cautious manner. A single Vehicle rollover is considered a breach of this condition. A single Vehicle rollover may include, but is not limited to, a vehicle that has rolled, tipped or fallen over and this has caused damage to the side and/or roof area of the Vehicle in circumstances within the control of the Customer. Customers who have purchased The Bundle (in conjunction with the Liability Reduction Option) or the maui Inclusive Pack will have the cost of damage resulting from an accidental single vehicle rollover covered, provided that the Customer has not otherwise breached this agreement in relation to the rollover; (b) driven by a person under the influence of alcohol or drugs or with a blood alcohol level in excess of that permitted by law; (c) left with the ignition key in the Vehicle while it is unoccupied; (d) submerged in water, brought into contact with salt water, used in a creek or river crossing, driven on a beach or through flooded areas; (e) used for any illegal purpose or in any race, rally or contest; (f) used to tow any vehicle or trailer; (g) used to carry passengers or property for hire or reward; (h) used to carry more persons than is permitted by any relevant authority or detailed in the Vehicle manual or on the Vehicle or specified in this Agreement; (i) used to carry volatile liquids, gases, explosives or other corrosive or inflammable material; and (j) used for transporting and haulage of goods other than what might be reasonably expected of a leisure rental. 15.2 Road restrictions apply as follows: (a) maui vehicles may only be driven on sealed/bitumen or well-maintained roads. (b) Vehicles are not permitted to be driven on Skippers Road (Queenstown), the Crown Range Road (Queenstown), Ball Hut Road (Mt. Cook), Ninety Mile Beach (Northland), North of Colville Township (Coromandel Peninsula) and all ski field access roads (from 01 June to 31 October). The Customer is responsible for all damage if travelling on these roads. 15.3 We value your well-being, and for safety purposes, maui reserves the right, at its sole discretion, to restrict Vehicle movements in certain areas due to: (a) adverse road or weather conditions; (b) the distance to nominated destinations in relation to the length of the hire period; and informed and confirm the repair in advance. Repairs will be approved and reimbursement for expenditure will be made (where applicable) provided the Customer was not responsible for the damage. In all cases, receipts must be submitted for any repair or the claim will not be paid. 16.2 Unless the Customer has taken the Liability Reduction Option, the Customer will pay for the cost of repairing or replacing tyres damaged during the Rental Period except if the tyre is defective, and inspected and confirmed by a maui authorised service centre.

  • Use of the Service 11.1 When using the Service you must comply with: (a) our CRA, including clause 4 of the General Terms, and this clause 11; and (b) any rules, including any acceptable use conditions, imposed by any third party whose content or services you access using the Service or whose Network on which your data transmits. 11.2 Any use of the Service at the Premises is your responsibility. The terms of our CRA apply to you and also to anyone else who uses the Service (regardless of whether you give them permission to do so or not). 11.3 You must ensure that any software you use in relation to the Service is properly licensed. 11.4 The use of a Local Area Network (LAN) for personal use is permitted, however the set-up and configuration of a LAN connected to the modem is not supported by customer service. 11.5 All IP addresses provided by us for your use remain our property. Most Services include a dynamic IP address. A new IP address is usually allocated whenever the computer and modem are rebooted. The IP address remains until the next time the computer and modem are switched off. Where provided, you may configure your computer or modem to connect using a static IP address. 11.6 We may at any time adjust aspects of the Service for security or Network management reasons, including, without limitation: (a) deleting transitory data that has been stored on our servers for longer than 90 days; (b) deleting stored email messages that are older than 90 days; (c) rejecting any incoming email messages and attachments that exceed 30 Megabytes (including encapsulation); (d) delivering access and content via proxy servers; (e) limiting the number of addresses to whom an outgoing email can be sent; (f) refusing to accept incoming email messages to mailboxes that have exceeded the email storage limit; (g) managing the Network to prioritise certain types of Internet traffic over others; and (h) blocking or filtering specific Internet ports. 11.7 You are responsible for providing any security or privacy measures for your computer networks and any data stored on those networks or accessed through the Service. We will not be liable to you in respect of any loss, damage, costs or expenses incurred by you in connection with your failure to provide that security. 11.8 You may request additional users on the Service in accordance with the Pricing Schedule. 11.9 You must take reasonable steps to ensure that others do not gain unauthorised access to the Service through your account. We recommend that you do not disclose your password to others and that you change your password regularly. 11.10 We may monitor use of the Service to investigate a breach (or suspected breach) of the Acceptable Use Policy or upon the request of an authorised authority. 11.11 Where you provide your own wireless computer connection device, you are responsible for any loss caused by an unauthorised interception of the Service.

  • Use of websites (a) The Borrower may satisfy its obligation under this Agreement to deliver any information in relation to those Lenders (the “Website Lenders”) who accept this method of communication by posting this information onto an electronic website designated by the Borrower and the Agent (the “Designated Website”) if: (i) the Agent expressly agrees (after consultation with each of the Lenders) that it will accept communication of the information by this method; (ii) both the Borrower and the Agent are aware of the address of and any relevant password specifications for the Designated Website; and (iii) the information is in a format previously agreed between the Borrower and the Agent. If any Lender (a “Paper Form Lender”) does not agree to the delivery of information electronically then the Agent shall notify the Borrower accordingly and the Borrower shall supply the information to the Agent (in sufficient copies for each Paper Form Lender) in paper form. In any event the Borrower shall supply the Agent with at least one copy in paper form of any information required to be provided by it. (b) The Agent shall supply each Website Lender with the address of and any relevant password specifications for the Designated Website following designation of that website by the Borrower and the Agent. (c) The Borrower shall promptly upon becoming aware of its occurrence notify the Agent if: (i) the Designated Website cannot be accessed due to technical failure; (ii) the password specifications for the Designated Website change; (iii) any new information which is required to be provided under this Agreement is posted onto the Designated Website; (iv) any existing information which has been provided under this Agreement and posted onto the Designated Website is amended; or (v) the Borrower becomes aware that the Designated Website or any information posted onto the Designated Website is or has been infected by any electronic virus or similar software. If the Borrower notifies the Agent under paragraph (c)(i) or paragraph (c)(v) above, all information to be provided by the Borrower under this Agreement after the date of that notice shall be supplied in paper form unless and until the Agent and each Website Lender is satisfied that the circumstances giving rise to the notification are no longer continuing. (d) Any Website Lender may request, through the Agent, one paper copy of any information required to be provided under this Agreement which is posted onto the Designated Website. The Borrower shall comply with any such request within ten Business Days.