Cash Security Deposit. Tenant shall, at the time that Tenant executes and delivers this Lease to Landlord, pay to Landlord a security deposit (the “Security Deposit”) in the amount set forth in Exhibit 1 securing Tenant’s obligations under this Lease. In no event shall the Security Deposit be deemed to be a prepayment of rent or a measure of liquidated damages. Txxxxx agrees that no interest shall accrue on the Security Deposit and that Landlord shall have the right to commingle the Security Deposit with other funds of Landlord. In the event that Tenant shall default in any of its obligations under this Lease, Landlord shall have the right, without prior notice to Tenant, to apply the Security Deposit (or any portion thereof) towards the cure of any such default. Tenant shall promptly, upon notice from Landlord, pay to Landlord any amount so applied by Landlord in order to restore the full amount of the Security Deposit. In addition, in the event of a termination based upon the default of Tenant under this Lease, or a rejection of this Lease pursuant to the provisions of the Federal Bankruptcy Code, Landlord shall have the right to apply the Security Deposit (from time to time, if necessary) to cover the full amount of damages and other amounts due from Tenant to Landlord under this Lease. Any amounts so applied shall, at Lxxxxxxx’s election, be applied first to any unpaid rent and other charges which were due prior to the filing of the petition for protection under the Federal Bankruptcy Code. The application of all or any part of the Security Deposit to any obligation or default of Tenant under this Lease shall not deprive Landlord of any other rights or remedies Landlord may have or constitute a waiver by Landlord. Provided that Tenant is not in default beyond the expiration of any applicable any notice, grace or cure period of any of its obligations under this Lease at the expiration of the Term, Landlord shall refund to Tenant not later than thirty (30) days after the expiration of this Lease any portion of the Security Deposit which Landlord is then holding.
Cash Security Deposit. If Subtenant elects to provide such Security in the form of cash (the “Security Deposit”) and Sublandlord at any time applies all or any portion of the Security Deposit as provided for above, Subtenant shall within ten (10) days after demand therefor deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the full amount thereof and Subtenant’s failure to do so shall be a material breach of this Sublease. If Subtenant performs all of Subtenant’s obligations hereunder, the Security Deposit, or so much thereof as has not theretofore been applied by Sublandlord, shall be returned, without interest, to Subtenant (or, at Sublandlord’s option, to the last assignee, if any, of Subtenant’s interest hereunder) following the expiration of the Term, and after Subtenant vacates the Subleased Premises and completes any restoration or repair obligations. No trust relationship is created herein between Sublandlord and Subtenant with respect to the Security Deposit. Sublandlord shall not be required to keep the Security Deposit separate from its other accounts. Subtenant hereby waives any and all rights under and the benefits of Section 1950.7 of the California Civil Code, and all other provisions of law applicable to security deposits in the commercial context (as now existing or hereafter amended, “Security Deposit Laws”).
Cash Security Deposit. If Landlord shall draw on the Letter of Credit and the proceeds so drawn are in excess of the funds necessary to cure Tenant’s default, Landlord shall maintain such cash security deposit in a separate interest-bearing account. Landlord shall be entitled to receive and retain as an administrative expense an amount equal to permitted statutory administration fees (but not in excess of the interest earned on any such cash security deposit), which fees Landlord shall have the right to withdraw, at any time and from time to time, as Landlord may reasonably determine. The balance of the interest (if any) shall be paid to Tenant, or credited against the next ensuing installment of Fixed Rent due hereunder, after written demand therefor from Tenant to Landlord served within a reasonable time following each anniversary of the Commencement Date. Notwithstanding the foregoing, if Landlord applies or retains any part of the proceeds of the Letter of Credit then Tenant, upon demand, shall deliver a new Letter of Credit (or any amendment to the Letter of Credit increasing such Letter of Credit to the required amount) with Landlord for the amount of the Letter of Credit immediately prior to any such application or retention so that Landlord has a Letter of Credit for the full amount on hand at all times during the Term.
Cash Security Deposit. “Cash Security Deposit,” as defined in the Emeritus Master Lease and the Painted Post Master Lease.
Cash Security Deposit. The date by which Tenant shall deposit with Landlord the cash Security Deposit pursuant to Section 4.4.2 of the Original Lease is extended from the sixth (6th) anniversary of the Rent Commencement Date to the seventh (7th) anniversary of the Commencement Date (10/1/08); provided, however, if the Letter of Credit is released prior to the seventh (7th) anniversary of the Commencement Date pursuant to the provisions of Section 7 above, then Tenant shall, concurrently with Landlord's delivery of the Letter of Credit to Tenant, deliver the cash Security Deposit to Landlord.
Cash Security Deposit. As of the Effective Date, there is no cash Security Deposit. However, if the Lease Bond is drawn and proceeds are being held as a Security Deposit or if a cash Security Deposit is otherwise delivered to Landlord, the Security Deposit shall be held by Landlord as security for Tenant’s full and faithful performance of the Lease including the payment of Rent. Landlord may apply the Security Deposit to the extent required to cure any default by Tenant. If Landlord so applies the Security Deposit (or Lease Bond, as applicable), Tenant shall deliver to Landlord the amount necessary to replenish the Security Deposit (or Lease Bond, as applicable) to its original sum of $[*] within 10 days after notice from Landlord. The Security Deposit shall not be deemed an advance payment of Rent or a measure of damages for any default by Tenant, nor shall it be a defense to any action that Landlord may bring against Tenant. The Security Deposit may be commingled with other funds of Landlord and Landlord shall have no liability for payment of any interest on the Security Deposit. Tenant grants Landlord a security interest in the Security Deposit.
Cash Security Deposit. Upon execution of this Lease, Tenant shall deposit the amount of the Cash Security Deposit in immediately available funds indicated in Section 1 with Landlord to secure Tenant’s performance under this Lease. Tenant hereby grants to Landlord a security interest in the Cash Security Deposit as collateral for all Rent and other sums of money becoming due from Tenant to Landlord under this Lease, and for the performance of Tenant’s obligations under this Lease, which security interest shall remain in effect until all such Rent and other sums of money have been paid in full and all such obligations have been fulfilled; the parties hereby acknowledge and agree that this Lease constitutes a security agreement under which such security interest is granted from Tenant to Landlord. In the event of an uncured Default, defined below, then Landlord may, without prejudice to Landlord’s other remedies, apply part or all of the Cash Security Deposit to cure such Default. If Landlord so uses part or all of the Cash Security Deposit, then Tenant shall within ten (10) days after written demand, provide Landlord with a replacement Cash Security Deposit in an amount sufficient to restore the Cash Security Deposit to its original amount. Any part of the Cash Security Deposit not used by the Landlord as permitted by this Lease shall be returned to Tenant within sixty (60) days after the Expiration Date. If Landlord sells the Building then Landlord shall transfer the Cash Security Deposit to the new owner and Landlord shall be relieved of any liability for the Cash Security Deposit. Tenant shall not be entitled to any interest on the Cash Security Deposit, and Landlord may commingle the Cash Security Deposit with other monies of Landlord.
Cash Security Deposit. Any cash security deposit used to satisfy any portion of the security fund requirement shall be placed in an account, the terms and conditions of which are acceptable to the City, and in a financial institution acceptable to the City. The City shall have an unrestricted right to draw on the account to ensure the Grantee's faithful performance of the Franchise, in accordance with applicable law, or if Grantee fails to perform any of its obligations under this Franchise. Additionally, the City shall have the right to withdraw all funds from the account and hold the funds in escrow after termination of the Franchise:
(a) if the City has filed a lawsuit;
(b) if the City has sought to withdraw funds from the account prior to termination and Grantee has filed a lawsuit to contest the action or to appeal the notice and order; or
(c) if the Grantee has filed a lawsuit to challenge or appeal the withdrawal.
Cash Security Deposit with Tenant's execution of this Amendment, Tenant shall deliver to Landlord the sum of Twelve Thousand Seven Hundred Thirty-five Dollars ($12,735.00), which sum shall be held by Landlord as a security deposit for the faithful performance by Tenant of all of the terms, covenants and conditions of this lease to be kept and performed by Tenant. It is expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. If Tenant defaults with respect to any provision of this lease, including but not limited to, the provisions relating to the payment of basic rent and direct expenses, Landlord may (but shall not be required to) use, apply, or retain all or any part of this security deposit for the payment of any amount which Landlord may spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of default. If any portion of said deposit is so used, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in the amount sufficient to restore the security deposit to its original amount; Tenant's failure to do so shall be a material breach of this lease. Landlord shall not be required to keep this security deposit separate from its general funds and Tenant shall not be entitled to interest on such deposit. If Tenant is not in default at the expiration or termination of this lease, the security deposit or any balance thereof shall be returned to Tenant after Tenant has vacated the Premises. In the event of termination of Landlord's interest in this lease, Landlord shall transfer said deposit to Landlord's successor in interest, and Tenant agrees that Landlord shall thereupon be released from liability for the return of such deposit or any accounting therefor.
Cash Security Deposit. Twelve Thousand Five Hundred Forty One Dollars and 20/100 ($12,541.20) to be held in accordance with Section 6.4 of this Lease.
