Common use of Cash Deposit Clause in Contracts

Cash Deposit. In lieu of obtaining a performance bond, Licensee shall have the right to instead deposit a cash deposit with Licensor securing Licensee’s obligations under this Agreement.

Cash Deposit. In lieu of obtaining a performance bond, Licensee shall have the right to instead deposit a cash deposit with Licensor securing Licensee’s obligations under this Agreement. However, as a condition of depositing cash, Licensee shall execute Licensor’s standard “Agreement for Cash Deposit with City in Lieu of Bond.”