Common use of Application of Security Deposit Clause in Contracts

Application of Security Deposit. Should Tenant be in default of any provision of this Lease at any time during the Term hereof, Landlord may, at its option and without prejudice to any other remedy which Landlord may have at law or in equity, apply the Security Deposit or any portion thereof same toward payment of Minimum Annual Rental, Percentage Rental, Additional Rental or to any loss or damage sustained by Landlord due to the default on the part of Tenant. Within five (5) days after written demand by Landlord, Tenant shall deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the original sum deposited, and Tenant's failure to do so shall constitute a material default under this Lease.

Application of Security Deposit. Should Tenant at any time during the Term hereof be in default of any provision of this Lease at any time during the Term hereofLease, Landlord may, at its option and without prejudice to any other remedy which Landlord may have at law or in equity, apply appropriate the Security Deposit Deposit, or any the portion thereof as may be deemed necessary, and apply same toward payment of Minimum Annual Rental, Percentage Rental, Additional Rental Rental, or to any loss or damage sustained by Landlord due to the default on the part of Tenant. Within five (5) days after written demand by Landlord, Tenant shall deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the original sum deposited, and Tenant's failure to do so shall constitute a material default under this Lease.

Application of Security Deposit. Should Tenant be in default of any provision of this Lease at any time during the Term hereofhereof be in default under any provision of this Lease, Landlord may, at as its option and without prejudice to any other remedy which Landlord may have at law or in equity, apply appropriate the Security Deposit Deposit, or any the portion thereof as may be deemed necessary, and apply same toward payment of Minimum Annual Rental, Percentage Additional Rental, Additional Rental or to any loss or damage sustained by Landlord due to the default on the part of the Tenant. Within five (5) days after written demand by Landlord, Tenant shall deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the original sum deposited, and Tenant's failure to do so shall constitute a material default as adjusted under this LeaseSection 7.1.