Additional Deposits definition

Additional Deposits in the amounts and conditions set forth above, shall be deposited by Purchaser in the Escrow Account in the form of electronic wire funds. The Initial Deposit and all Additional Deposits (jointly the "Deposits") in the amounts set forth above shall be used by Seller solely for purposes of developing and constructing the Condominium and particularly the Unit and credited to Purchaser during the entire term of the transaction contemplated in this Agreement and particularly at Closing (as defined in Section 4 below).
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Additional Deposits means the payroll deduction contributions and the lump sum payment of any Special Additional Deposits, or contributions paid by an alternate means if required under local law and authorized by P&G and/or the Participating Company, made to an Account by a Member that the Participating Company does not Match.
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Additional Deposits. Buyer shall pay to Seller five (5) additional deposits (each an “Additional Deposit”), all of which, if the Buyer should perform its obligations under the Contract and close on the purchase of the Property, shall be credited against the Purchase Price at Closing and Buyer’s required “Cash to Close” under the Amended Contract to the same extent as if said monies had been deposited or remained in escrow, as applicable, with Escrow Agent pursuant to the terms of the Existing Contract. In addition, Seller shall have an obligation to return all such Additional Deposits so made, together with the Deposit, to Buyer in the event of a termination of the Amended Contract under the same circumstances under which Escrow Agent would have been directed to return the Deposit to Buyer under the terms of the Amended Contract had such Deposit remained in escrow as originally provided. The Additional Deposits shall be paid to Seller on the following dates and in the following amounts, provided Seller is not in breach in any material respect of its obligations under the terms of the Amended Contract, and is not the subject of any so-called bankruptcy or insolvency proceeding under state or federal insolvency laws: on or before 5:00pm EDT on October 1, 2007: $5,000,000.00 on or before 5:00pm EDT on January 1, 2008: $5,000,000.00 on or before 5:00pm EDT on April 1, 2008: $5,000,000.00 on or before 5:00pm EDT on July 1, 2008: $5,000,000.00 on or before 5:00pm EDT on October 1, 2008: $5,000,000.00 Notwithstanding the foregoing, Buyer may, at its election, upon written notice (“Deferral Notice”) to Seller prior to October 1, 2007, postpone the payment of the Additional Deposit due on October 1, 2007 (the “First Additional Deposit”) to a date on or before December 1, 2007, (“Deferral Date”), which such Deferral Date shall be specified in the Deferral Notice; provided, that Buyer shall pay to Seller on the Deferral Date such First Additional Deposit together with interest thereon at a rate of 10% per annum which shall have accrued from October 1, 2007 to the Deferral Date; and provided further, that Buyer may, at any time prior to the Deferral Date specified in the Deferral Notice, upon not less than one Business Day notice to Seller, pay to Seller the First Additional Deposit together with interest thereon at a rate of 10% per annum which shall have accrued from October 1, 2007 to the date Seller makes such payment. It shall be a default of Buyer under the Amended Contract if Buyer...
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Examples of Additional Deposits in a sentence

  • Escrow Agent shall deliver, on the last business day of each month, a written certification to ICANN that it has performed those verification procedures on all Additional Deposits received during the last month and shall deliver to ICANN a copy of the verification reports generated by those procedures.

  • All parties agree that Escrow Agent shall not be required to deliver such Deposit Materials and Outstanding Additional Deposits until all such fees then due to Escrow Agent have been paid.

  • If the provisions of 4.1(a) are satisfied, Escrow Agent shall, within five (5) business days after receipt of the notification and check specified in Paragraph 4.1(a), deliver the Deposit Materials and Outstanding Additional Deposits in accordance with the applicable instructions.

  • Within two (2) business days after receiving them, Escrow Agent shall verify that any Additional Deposits are in the proper format and appear to be complete by performing the verification procedures specified in Exhibit D of Appendix 1.

  • Upon receipt of any such notice from Registry Operator, Escrow Agent shall promptly deliver Deposit Materials and Outstanding Additional Deposits to ICANN in accordance with the instructions provided by ICANN.

  • Additional Deposits: Additional deposits may be made as contributions to CDs established as an Individual Retirement Account with a term of 2 years or less after it is opened or renewed.

  • If Escrow Agent discovers that any Additional Deposits fail the verification procedures, Escrow Agent shall notify ICANN and Registry Operator of such nonconformity within forty-eight (48) hours.

  • If Buyer and Seller fail to agree to an acceptable Purchase Price within the time period stated above, either party may cancel the Contract by written notice to the other, in which event Buyer’s ▇▇▇▇▇▇▇ Money will be subject to the provisions of the ▇▇▇▇▇▇▇ Money and Additional Deposits paragraph of this Contract.

  • In either case, ▇▇▇▇▇’s ▇▇▇▇▇▇▇ Money shall be subject to the provisions of the ▇▇▇▇▇▇▇ Money and Additional Deposits paragraph of this Contract.

  • For purposes of calculating the Total Payment Obligation, Lennar shall be deemed to have made all Additional Deposits.


More Definitions of Additional Deposits

Additional Deposits means the First Additional Deposit and the Second Additional Deposit.
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Related to Additional Deposits