Appropriation of Security Deposit Sample Clauses

Appropriation of Security Deposit. Upon occurrence of a Licensee’s Default, Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Security Deposit, and in case of appropriation of the entire Security Deposit provide a fresh Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Security Deposit as aforesaid failing which Maha-Metro shall be entitled to terminate this Agreement. Upon replenishment or furnishing of a fresh Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, Maha-Metro shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 15.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security and/or the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Performance Security and/or the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security and/or the Security Deposit, and in case of appropriation of the entire Performance Security and/or the Security Deposit provide a fresh Performance Security and/or the Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Performance Security and/or the Security Deposit as aforesaid failing which the Maha-Metro shall be entitled to terminate this Agreement. Upon replenishment or furnishing of a fresh Performance Security and/or the Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, the Maha-Metro shall be entitled to encash and appropriate such Security Deposit as Damages, and to terminate this Agreement in accordance with “ARTICLE 17
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Appropriation of Security Deposit. 3.2.1 If the Tenant fails to punctually observe and/or perform its obligations under this Agreement and/or the Tenant is in breach and/or default of any provisions of this Agreement the Landlord may in its absolute discretion apply/appropriate so much of the Security Deposit as it thinks fit to make good and/or to compensate it for loss or damage sustained or suffered by the Landlord due to or arising from such breach. Any appropriation by the Landlord shall not be deemed to be a waiver of the Landlord’s claim for any outstanding monies owing by the Tenant to the Landlord and/or other remedies or rights conferred upon the Landlord in law or in equity or under this Agreement in respect of the Tenant’s breach and/or default and shall not in any way prejudice any other remedies and/or rights of the Landlord arising from such breach and/or default by the Tenant.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial
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Appropriation of Security Deposit. Upon the CMRL/LICENSOR being of the view that the Licensee has committed any breach or default of this Agreement, CMRL/LICENSOR shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as loss/damages for such breach or default. Upon such encashment and appropriation from the Performance Security, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Security Deposit, and in case of appropriation of the entire Security Deposit provide a new Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Security Deposit as aforesaid failing which CMRL/LICENSOR shall be entitled to terminate this Agreement and forfeit the remaining amounts of the Security Deposit, if any.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its
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Appropriation of Security Deposit. Upon occurrence of a O&M Operator Event of Default, Kannur Airport shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to appropriate the relevant amounts from the Performance Security as damages for such O&M Operator Event of Default. Upon such appropriation from the Performance Security, the O&M Operator shall, within 15 (fifteen) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide afresh Performance Security, and the O&M Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which Kannur Airport shall be entitled to terminate this Contract in accordance with Article 18. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the O&M Operator shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the O&M Operator Event of Default, and in the event of the O&M Operator not curing its default within such Cure Period, Kannur Airport shall be entitled to appropriate such Performance Security as damages, and to terminate this Contract in accordance with Article 18. Further, Kannur Airport shall be at liberty to invite for bids at the risks and costs of the O&M Operator. 14 CHARGE S FOR CARGO HANDLING SE RVICE S
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Appropriation of Security Deposit. 6.1.1 The Lessee has, simultaneous with the execution of this Seabed lease deed agreement, furnished to the Lessor a refundable security deposit of 1 Million USD.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Security Deposit, and in case of appropriation of the entire Security Deposit provide a fresh Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Security Deposit as aforesaid failing which the Authority shall be entitled to terminate this Agreement. Upon replenishment or furnishing of a fresh Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Security Deposit as Damages, and to terminate this Agreement in accordance with “ARTICLE 17: BREACHES, EVENTS OF DEFAULT, SURRENDER AND TERMINATION OF LICENSE AGREEMENT”.
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Related to Appropriation of Security Deposit

  • Return of Security Deposit (a) We must return your security deposit and any accrued interest in the following circumstances:

  • Transfer of Security Deposit If any Security Deposit or prepaid Rent has been paid by Tenant, Landlord may transfer the Security Deposit or prepaid Rent to Landlord's successor and upon such transfer, Landlord shall be released from any liability for return of the Security Deposit or prepaid Rent.

  • Security Deposit Lessee has deposited with Lessor, and Lessor hereby acknowledges receipt of, Twenty One Thousand Two Hundred Seventv-Two and 76/100 Dollars ($21,272.76) (the "Security Deposit") which shall be held by Lessor, without accrual of interest, as security for the faithful performance by Lxxxxx of all of the terms of this Lease and not as an advance rent deposit or a measure of Lessor’s damages in the case of Lxxxxx’s default. Such Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Lxxxxx without the express prior written consent of Lessor. If Lessee shall fail to perform any of the terms of this Lease, then Lessor, at its option and without prejudice to any other remedy which Lessor may have on account thereof, may appropriate and apply all or any part of the Security Deposit toward the payment of any Rent or additional sum due hereunder or to any loss or damage sustained by Lessor due to such breach on the part of Lessee; and Lessee shall forthwith upon demand restore the Security Deposit to the original sum deposited. Any funds paid by Lessee to Lessor as part of the Security Deposit or as a deposit or advance pursuant to the terms of this Lease, or any exhibit, addendum or modification hereto, may be commingled with other funds of Lessor and need not be placed in trust, deposited in escrow or otherwise held in a segregated account. Should Lessee comply with all of the terms hereof and promptly pay all of the rentals and all other sums payable by Lessee to Lessor as they become due, the Security Deposit shall be returned in full to Lessee within 30 days after the end of the Term. In the event of a bankruptcy or other creditor/debtor proceeding against Lxxxxx, the Security Deposit shall be deemed to be first applied to the payment of Rent and other charges due Lessor for all periods prior to the filing of such proceedings. Lessor may deliver the Security Deposit and any other deposit made hereunder by Lxxxxx to the purchaser of Lessor’s interest in all or any part of the Project and thereupon Lessor shall be discharged from any further liability with respect to such deposit; provided that such successor has assumed all of Lessor’s responsibilities and duties hereunder in writing; and this provision shall also apply to any subsequent transferee of Lessor

  • Protection of Security Each Grantor shall, at its own cost and expense, take any and all actions necessary to defend title to the Collateral against all persons and to defend the Security Interest of the Collateral Agent in the Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the Credit Agreement.

  • Release of Security (a) If a disposal of any asset subject to security created by a Security Document is made in the following circumstances:

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