Deposit Guidelines. Deposits will be cashed immediately and a refund check will be issued once the following items have been addressed after the rental date(s).
Deposit Guidelines. You will need three (3) months’ deposit paid in full when you submit your applications. All deposits must be made payable in the form of one Certified Check or Money Order for the security deposit and one Certified Check or Money Order for the first and last months’ rent. Personal checks are unacceptable on a move in. There are no exceptions. Please see the checklist on the back of this application for specific instructions.
Deposit Guidelines. Except as set forth in this Agreement, including a Work Order, prior to each of commencement of any Work Order, formation of any LocalCo, entering into a contract for any Clinical Trial, execution of a manufacturing contract, commencement of litigation, or any other major activity not funded through a prior Deposit, or a top-up for a prior Deposit, GTC shall fund a Deposit computed by SMIG in accordance with the following principles: the guiding principle for each Deposit is that it will be sufficient to pay for not less than the following, to the extent not otherwise funded by direct payments previously made by GTC, or a previous Deposit: (i) the next twelve (12) months of SMIG Management Fees for that Work Order, plus (i) all SMIG fees, costs and expense for the next twelve (12) months of that Work Order, plus (iii) the next twelve (12) months of formation and operating costs for all LocalCos relevant to that Work Order, plus (iv) the next six (6) months of other budgeted costs for that Work Order, plus (v) any non-cancellable fees, costs or expenses of that Work Order that would be due within the next twelve (12) months, to the extent not otherwise included in a prior category. Unless GlobeStar reasonably objects to the Deposit or the payees computed by SMIG as being improperly computed in accordance with the principles hereof, GTC shall fund the Deposit within thirty (30) days after receipt of the funding Notice. If GTC reasonably objects, the Parties shall consult to resolve their difference, following which GTC shall promptly fund the Deposit.
