Common use of Application of Security Clause in Contracts

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may apply or retain the whole or any part of the cash Security Deposit or may notify the Issuing Bank and thereupon receive all or such portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (a) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (b) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable Requirements, whether such damages or Deficiency accrues before or after summary proceedings or other reentry by Landlord. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the terms, covenants and conditions of this Lease) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit against any of Tenant's obligations to pay Rent hereunder.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs defaults in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may use, apply or retain the whole or any part of the cash Security Deposit or may notify the Issuing Bank and thereupon receive all or such a portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorizedCredit, and use, apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default default, including (ai) any sum which Landlord may expend or may be required to expend by reason of Tenant's ’s default, and/or and (bii) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable Requirements, whether such damages or Deficiency accrues before or after summary proceedings or other reentry by Landlord. If Landlord uses, applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the terms, covenants and conditions of this Leaseremains) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit against any of Tenant's ’s obligations to pay Rent hereunder.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs defaults beyond applicable notice and cure periods in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may apply or retain the whole or any part of the cash Security Deposit or may notify the Issuing Bank and thereupon receive all or such a portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply, apply or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default default, including (a) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (b) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable Requirements, whether such damages or Deficiency accrues before or after summary proceedings or other reentry by Landlord. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the terms, covenants and conditions of this Leaseremains) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit against any of Tenant's obligations to pay Rent hereunder.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may apply or retain the whole or any part of the cash Security Deposit or may and, in addition, notify the Issuing Bank and thereupon receive all or such a portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply, apply or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (ai) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (bii) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable RequirementsLease, whether such damages or Deficiency accrues accrue before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the terms, covenants and conditions of this Lease) shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly agrees that Tenant shall have no right to apply any portion Any amounts of the Security Deposit against any of Tenantheld by Landlord shall be held by Landlord without interest and may be commingled with Landlord's obligations to pay Rent hereunderother funds.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs defaults in the payment or performance respect of any of the terms, covenants or conditions of this Lease, including including, the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may apply or retain the whole or any part of the cash Security Deposit security so deposited or may notify the Issuing Bank and thereupon receive all or such a portion of the Security Deposit monies represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (ai) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (bii) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable Requirementsdeficiency in the relenting of the Premises, whether such damages or Deficiency deficiency accrue or accrues before or after summary proceedings or other reentry by Landlord. If Landlord applies or retains any part of the Security Depositcash security or proceeds of the Letter of Credit, as the case may be, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (cash security or so much thereof Letter of Credit, as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the termscase may be, covenants and conditions of this Lease) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit against any of Tenant's obligations to pay Rent hereunderhereunder and, if Tenant shall seek to so apply such Security Deposit, Tenant shall pay liquidated damages to Landlord in a sum equal to two times the amount of any such unpaid Rent.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs defaults in the payment or performance respect of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may apply or retain the whole or any part of the cash Security Deposit security so deposited or may notify the Issuing Bank and thereupon receive all or such a portion of the Security Deposit monies represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (ai) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (bii) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable Requirementsdeficiency in the reletting of the Premises, whether such damages or Deficiency deficiency accrue or accrues before or after summary proceedings or other reentry by Landlord. If Landlord applies or retains any part of the Security Depositcash security or proceeds of the Letter of Credit, as the case may be, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (cash security or so much thereof Letter of Credit, as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the termscase may be, covenants and conditions of this Lease) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit against any of Tenant's obligations to pay Rent hereunderhereunder and, if Tenant shall seek to so apply such Security Deposit, Tenant shall pay liquidated damages to Landlord in a sum equal to two times the amount of any such unpaid Rent.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice Tenant fails to make any installment of Rent as and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Noticewhen due, Landlord may apply or retain the whole or any part of the cash Security Deposit or may notify the Issuing Bank and thereupon receive all or such portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply, or retain the whole or any part of such proceeds, as the case may beDeposit, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (ai) any sum which Landlord may expend or may be required to expend by reason of Tenant's ’s default, and/or (bii) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable RequirementsLease, whether such damages or Deficiency accrues accrue before or after summary proceedings or other reentry by Landlord. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, The Security Deposit (less any sums Landlord is permitted to deduct from the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due pursuant to Tenant's failure to comply fully with the terms, covenants and conditions terms of this LeaseSection 27.2) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly hereby irrevocably waives and relinquishes any and all rights, benefits, or protections, if any, Tenant now has, or in the future may have, under Section 1950.7 of the California Civil Code, any successor statue, and all other provisions of law, now or hereafter in effect, including, but not limited to, any provision of law which (A) establishes the time frame by which a landlord must refund a security deposit under a lease, or (B) provides that a landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by a tenant, or to clean the subject premises. Tenant acknowledges and agrees that Tenant shall have no right to apply that (I) any portion statutory time frames for the return of a security deposit are superseded by the express period identified in this Section 27.2, above, and (II) rather than be so limited, Landlord may claim from the Security Deposit against (1) any and all sums expressly identified in this Article 27, above, and (2) any additional sums reasonably necessary to compensate Landlord for any and all losses or damages caused by Tenant’s default of Tenant's obligations this Lease, including, but not limited to, all damages or rent due upon termination of this Lease pursuant to pay Rent hereunderSection 1951.2 of the California Civil Code.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs defaults, beyond the applicable notice and/or cure period, if any, in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may use, apply or retain the whole or any part of the cash Security Deposit or may notify the Issuing Bank and thereupon receive all or such a portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorizedCredit, and use, apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default default, including (ai) any sum which Landlord may expend or may be required to expend by reason of Tenant's ’s default, and/or and (bii) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable Requirements, whether such damages or Deficiency accrues accrue before or after summary proceedings or other reentry by Landlord. If Landlord uses, applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains remains) shall be returned to Tenant within thirty (30) days after the Expiration Date and after delivery of possession of the Premises to Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with in the terms, covenants and conditions of manner required by this Lease, but if Tenant shall not have so complied, then the Security Deposit (or so much thereof as remains) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease, within thirty (30) days after all defaults under this Lease are cured and there are no amounts due and payable to Landlord hereunder. Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit against any of Tenant's ’s obligations to pay Rent hereunder.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs defaults in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may use, apply or retain the whole or any part of the cash Security Deposit or may notify the Issuing Bank and thereupon receive all or such a portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorizedCredit, and use, apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default default, including (ai) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or and (bii) any damages or Deficiency to which Landlord is entitled pursuant to this Lease or applicable Requirements, whether such damages or Deficiency accrues before or after summary proceedings or other reentry by Landlord. If Landlord uses, applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the termsremains, covenants and conditions of this Leaseif any) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit against any of Tenant's obligations to pay Rent hereunder.