Cash Security Deposits. At Closing, Seller shall give Buyer a credit against the Purchase Price in the aggregate amount of any cash security deposits then held by Seller under the Leases.
Cash Security Deposits. Pursuant to the Leases and the Pooling Agreement, Landlords currently hold cash security deposits in the aggregate amount of $11,819,700.00 (the “Cash Security Deposits”). In consideration of the assignment of the SPA to Xxxxxx pursuant to the SPA Assignment and the agreements and obligations of the CNL Parties under this Agreement, the PGMI Parties do hereby agree to relinquish and release to Landlords, effective as of the Effective Date, all of the Cash Security Deposits. From and after the Effective Date, Tenant shall have no further right or interest in the Cash Security Deposits and Landlords shall have no obligation to Tenant with respect thereto. The terms of this Section 4 are intended to and do hereby amend and modify the terms of the Leases with respect to the rights and obligations of the parties to the Cash Security Deposits. The PGMI Parties further acknowledge and consent to the release and cancellation of the Cancelled L/Cs pursuant to and in accordance with the PGMI Sale Transaction and acknowledge that neither Tenant nor any other PGMI Party has any further right or interest in and to the Cancelled L/Cs and no CNL Party has any obligation to any PGMI Party with respect thereto.
Cash Security Deposits. Buyer shall be credited at Closing for the amount of all cash security deposits provided for under the Leases as reflected on the List of Leases attached hereto as Exhibit L and made a part hereof. Unless and until this Agreement is terminated, Seller shall not apply any security deposits to any obligations under the Leases without notifying Buyer of such application, in which event Exhibit L shall be deemed to be modified to reflect such application.
Cash Security Deposits. To the extent that Seller has collected from any tenant any deposits or fees in addition to security deposits (including, without limitation, pet fees), Seller shall retain any such deposits or fees that are non-refundable, and any refundable deposits or fees shall be transferred to Buyer in the form of a credit at Closing.
Cash Security Deposits. At Closing, Prudential shall give Meridian a credit against the Acquisition Cash in the aggregate amount of the unapplied cash security deposits then held by Prudential under the Leases and any interest thereon less, any administrative or similar charges to which Prudential may be entitled under applicable law.
Cash Security Deposits. Purchaser shall be credited at Closing with: (i) all cash security or other deposits held by or on behalf of Seller with respect to the Property (other than any security deposits held in the form of a letter of credit or other non-cash security); (ii) any rent prepaid beyond the Closing Date; and (iii) any interest earned as of the Closing on cash security deposits or prepaid rent held by or on behalf of Seller, to the extent that such interest is refundable to Tenants under the terms of the applicable Lease or applicable law. The cost of transferring any letter of credit security deposits shall be divided evenly between Seller and Purchaser.
Cash Security Deposits. At Closing, Prudential shall give REIT OP a ---------------------- credit against the Purchase Price in the aggregate amount of the unapplied cash security deposits then held by Prudential under the Leases and any interest thereon (unless assigned to REIT OP pursuant to Section 6.3.3 below) to the ------------- extent the same have not been applied by Prudential prior to the Closing in accordance with the Leases and the terms of Section 13.3 below. ------------
Cash Security Deposits. At the applicable Closing, Seller shall give Buyer a credit for any unapplied refundable deposits or fees collected from tenants in possession at the applicable Closing, together with any accrued interest thereon if such deposits are required by law to accrue interest.
Cash Security Deposits. At the Closing, Seller shall, at its election, transfer to Buyer, or give Buyer a credit against the Purchase Price in the aggregate amount of, any cash security deposits then held by Seller under the Leases.
Cash Security Deposits. Purchaser shall be credited at Closing with: (i) all cash security or other deposits held by or on behalf of Seller with respect to the Property (other than any security deposits held in the form of a letter of credit or other non-cash security); (ii) any rent prepaid beyond the Closing Date; and (iii) any interest earned as of the Closing on cash security deposits or prepaid rent held by or on behalf of Seller, to the extent that such interest is refundable to Tenants under the terms of the applicable Lease or applicable law. The cost of transferring any letter of credit security deposits, the Contractor’s letter of credit and the BIDMC Letter of Credit shall be divided evenly between Seller and Purchaser.
