On the Closing Date, the Depositor will use the net proceeds of the sale of the Notes and the Trust Certificates to make a capital contribution to the Issuing Entity, which the Issuing Entity shall use to cause the Initial Deposit Amount to be deposited into the Reserve Account.
The Depositary shall accept from the Underwriters, for the benefit of the Escrow Agent such Initial Deposit Amount.
The Initial Deposit Amount will be determined on or before the Issue Date in consultation with the Deposit Counterparty such that, based on the market conditions prevailing at that time, it would enable the Deposit Counterparty to repay the Term Deposit at an amount equal to the Deposit Redemption Amount (as defined hereafter) on the Deposit Scheduled Termination Date.
Under the Deposit Agreement the Issuer will initially deposit, on the Business Day following the Issue Date, a proportion of the net issuance proceeds of the Notes corresponding to the Initial Deposit Amount (as defined hereafter) to the Deposit Counterparty.
The Q-R Interest Holder will determine the Q-REMIC Subordinate Principal Distribution Amount on each Distribution Date for the related Q-REMIC such that, on or prior to the termination of such Q-REMIC, the aggregate of the Q-REMIC Subordinate Principal Distribution Amounts for the related Q-REMIC will equal the excess of (i) the Initial Deposit Amount over (ii) the sum of the amount of all withdrawals permitted pursuant to Section 3.05(e).
Start by entering your initial deposit or investment, or your current balance if you already have a deposit. This is used as a basis for all calculations. Then enter how long you want to keep the deposit or investment, usually in years, but we also support other time periods. How long do I have to make an initial deposit? Please fund your High Yield account within 60 days after receiving approval of application; otherwise, your account will be closed. Please fund your Certificate of Deposit account within 30 days after receiving approval of. Make a Deposit in Person. You can make an initial deposit at any of our locations across the country. Stop by a Service Center in person or use one of our tens of thousands of free ATMs. Use our free ATMs locator to find a location near you. Set Up Enhanced Direct Deposit™.
Initial Deposit Landbank
Application Fee and Initial Deposit
Initial Deposit Definition
A $75 non-refundable Application Fee is required at the time of application. A $400 Initial Deposit is due at the time of application. The Initial Deposit will automatically be applied after the spring portion of the contract is completed, or the student may choose to roll this payment over to the next fall contract period during Priority Room Selection in October. Refund of the $400 Initial Deposit, due to cancellation prior to occupancy, is determined in the following chart. Students are required to contract for a Dining Plan in addition to a room.
Once the contract has been signed, even if it is after the cancellation dates below, it becomes a binding agreement, a contract between the student (and his/her Guarantor, if required) and the University. All cancellation requests must be submitted to University Student Housing in writing by the student.
Initial Deposit Cancellation Schedule (Prior To Occupancy)
| CONTRACT | DEADLINE | REFUND |
| Fall and Spring | May 1, 2021 | $400.00 |
| Spring Only | January 4, 2021 | $400.00 |
Contract Term
Students must select the contract term for the period of occupancy that they intend to reside in the Residence Halls. The following contract terms are available:
| CONTRACT | OCCUPANCY PERIOD | AVAILABILITY |
| Academic Year Residence Hall | August 15, 2021 – May 11, 2022 | All classifications |
| Academic Year Apartment/Suite | August 15, 2021 – May 11, 2022 | Sophomore classification or above |
| 12 Month | August 15, 2021 – August 5, 2022 | Sophomore classification / 21 year or above in West Village or All Classifications in Coleman Hall only |
| Spring 2021 | January 14, 2021 – May 12, 2021 | Spring 2021 new admits |
Additional Deposit
Residents who reserve space in Carpenter/Wells, Murray Hall, Gordon Hall, Talkington Hall, West Village, or Honors Hall are required to pay a $250 Additional Deposit, in addition to the $400 Initial Deposit. It is due at the time a contract is completed. This fee is non-refundable if the contract is cancelled at any time before the end of the contract period.
Both the Initial Deposit and the Additional Deposit will automatically be applied as a credit after the spring portion of the contract is completed, or the student may choose to roll this payment over to the next fall contract period during Priority Room Selection in October.