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I plan to hear back from schools (t14-t20s) around the first seat deposit deadline (mid/late April). I plan on retaking (March LSAT) to help with potential waitlists, but in the chance I do exceptionally well in March, I may even want to apply to higher ranked schools. I know this would be extremely late, but I have seen for AA males they do make exceptions. At that point I may need to have already placed a seat deposit at a school, however, which often allows you to stay on waitlists but often requires you to withdraw other pending applications. I know it really comes down to the specific language of the deposit, but can someone give me advice about this? Thanks.

Most seat deposits include the language you're thinking of. I would just plan to reapply next cycle if you don't like your results this time around.

Don't have any experience here but perhaps its worth reaching out to the schools you're waiting to hear from and explaining the situation. Maybe they'll accept you faster or would be willing to just throw you on the wait list technically if they can't make a decision fast enough.