Common use of Deposit Clause in Contracts

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 6 contracts

Samples: Student Tenancy Agreement, Student Tenancy Agreement, Student Tenancy Agreement

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Deposit. 6.1 The Lessor (or one or more Lessor Lenders) shall retain the Deposit will be paid into during the Term as additional security for Lessee's obligations under this Agreement. On the Delivery Date, the Deposit, together with any interest earned thereon shall constitute a tenancy security deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest under this Lease, shall be paid non-refundable during the Term of this Lease, and shall be held by the Landlord to the Tenant Lessor (or one or more Lessor Lenders) in an interest bearing account (which may be a general account and need not be segregated) as security for the Deposit. 6.2 The Tenant agrees timely and acknowledges that faithful performance by Lessee of all of Lessee's obligations under this Lease. If Lessee fails to pay Rent hereunder or to pay any other sums due or to or to perform any of the Landlord will be entitled to other terms and provisions of this Lease or an Event of Default has otherwise occurred and is continuing hereunder, Lessor may use, apply, draw upon or retain sums from all or any portion of the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation partial payment for damagesums due to Lessor by Lessee, to the Accommodation and a share of compensate Lessor for any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant sums it may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The its reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising discretion advance as a result of an Event of Default, or to apply toward losses or expenses Lessor may suffer or incur as a result of the occurrence of an Event of Default hereunder. If Lessor uses, draws upon or applies all or any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part portion of the Deposit, such application shall not be deemed a cure of any Default or Event of Default, and Lessee shall within five (5) Business Days after written demand therefor deposit with Lessor cash or other collateral acceptable to Lessor in an amount sufficient to restore the Deposit to its original level as set forth in Schedule 9 hereto, and the failure of Lessee to do so shall be a material breach of this Lease by Lessee. Provided no Default has occurred and is continuing under this Lease, the Deposit shall be returned to Lessee, together with interest (net of any reasonable fees, commissions and other expenses incurred in connection with investment of the Deposit), if any, will be refunded earned thereon, within five (5) Business Days following the Expiry Date, or, if later, the date Lessee's obligations relating to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost return of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyAircraft have been fully performed.

Appears in 4 contracts

Samples: Lease Agreement (American Income Fund I-D LTD Partnership), Lease Agreement (American Income Fund I-C LTD Partnership), Lease Agreement (Afg Investment Trust B)

Deposit. 6.1 (a) The Deposit will be paid into a Tenant must pay the £400 refundable tenancy deposit scheme within to the timescales laid Landlord as set out in the Tenancy Deposit Schemes payment schedule as security towards the discharge or part discharge of any liability referred to in sub-clause (Scotlandc) Regulations 2011 and subject to this is to be held on trust for the Tenant absolutely. (“the Regulations”). No interest b) The refundable tenancy deposit shall be paid by held on the Landlord terms of a deposit protection scheme established under to the Housing Act 2004 Section 212 ('the Scheme') the details of which will be notified to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start commencement of the Tenancy Period, save and the parties agree that any provisions of the Scheme which need to be incorporated into the Tenancy will be incorporated herein on notification to the Tenant of those provisions. The Landlord shall comply promptly with his obligations under the Scheme. (c) The following sums may be paid out of the Deposit may not be used to the Landlord in respect of damage by insured risks and repairs that are accordance with the responsibility terms of the Landlord Scheme: (save i) any Rent or other payments due from the Tenant to the extent Landlord, including advance rent that the insurance has been invalidated due to the acts of the Tenant [or in respect of fallen due; (ii) any excess]). 6.2.2 The reasonable costs incurred in compensating sum the Landlord and/or the Agent for, expends or for rectifying or remedying, incurs in remedying any major breach failure by the Tenant of the Tenant's to comply with his obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid agreement; and (iii) after the end of the tenancy. 6.2.5 Any loss arising as a result Term, any sum owing to the Landlord equivalent to rent in respect of any breach period of unauthorised occupation by the Tenant or anyone under his control; (d) If the refundable tenancy deposit or part of their obligations it is applied as authorised by sub-clause (c) and in this tenancy agreement (including accordance with the terms of the Scheme, the Tenant must, at the Landlord's and Agent's proper and reasonable costs of enforcing or attempting written request, pay the Landlord a further sum to enforce restore the Tenant's obligations Deposit to the agreed amount stated in the Particulars and the costs of instructing advisers)Landlord shall comply promptly with his obligations under the Scheme in relation to this further sum. 6.3 (e) Subject to Clauses 6.1 or 6.2 the Deposit or part provisions of sub-clause (d), the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (refundable tenancy deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to it must be returned at to the Tenant after the end of the tenancy, Term in accordance with the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start provisions of the tenancyScheme but any interest earned on the refundable tenancy deposit may be retained by the Landlord.

Appears in 4 contracts

Samples: Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Upon execution of the original Lease, Tenant deposited with Landlord the sum of $5,500,000. In lieu of a cash security deposit, Tenant elected to provide one or more irrevocable letters of credit, payable to Landlord, as a security deposit. Upon the execution of this Lease, the amount of such deposit shall be reduced to $1,375,000. At Tenant’s election, in lieu of a cash security deposit, Tenant may continue to provide one or more irrevocable letters of credit in amounts described above, payable to Landlord, and issued by an institution and in form reasonably satisfactory to Landlord. Such sums or the Letter of Credit (individually and collectively, the “Security Deposit”) shall be held by Landlord as security for the faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the Term hereof; provided that if at any time Tenant shall have maintained an investment grade credit rating of BBB or better by Standard and Poors for a consecutive twelve month period, Landlord shall return the Security Deposit will to Tenant. Upon the execution of this Lease, Landlord shall promptly obtain the release of any Letters of Credit pledged as permitted in Section 18.2 below which exceed the amounts indicated above and shall return such Letters of Credit to Tenant. Upon such release and return, Tenant shall cause to be paid into issued and delivered a tenancy deposit scheme within the timescales laid out substitute letter of credit in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“amount of the Regulations”)required security deposit. No interest shall be paid by the Landlord If Tenant defaults with respect to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end any provision of this tenancy agreement in respect of: 6.2.1 Any damageLease, or compensation for damageincluding, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tearwithout limitation, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those provisions relating to the cleaning payment of rental and other sums due hereunder, Landlord shall have the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities right, but shall not be required, to use, apply or other similar services retain all or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the DepositSecurity Deposit for the payment of rental, if any, will be refunded unreimbursed Operating Expenses or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. Landlord may also apply the Security Deposit toward costs incurred to repair damages to the Premises or to clean and bring the Premises to good order, condition and repair during its Lease Term and upon expiration or sooner termination of this Lease. If any portion of the Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the timescales as laid out Security Deposit to its original amount and Tenant’s failure to do so shall be a material breach of this Lease. Landlord shall be required to keep any deposit under this Section separate from Landlord’s general funds in the Regulations. Where the an interest bearing account reasonably acceptable to Tenant, and Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum interest thereon, to be paid to Tenant when and if the Security Deposit is refundable to Tenant. If Tenant fully and faithfully performs every provision of £20 from this Lease to be performed by it, the Deposit Security Deposit, or any balance thereof, together with all accrued interest, shall be returned to cover Tenant or, at Landlord’s option, to the cost last assignee of Tenant’s interest hereunder, at the expiration of the banking fee Term of this Lease and after Tenant has vacated the Premises. In the event of termination of Landlord’s interest in this Lease, Landlord shall transfer fee incurred all deposits then held by Landlord under this Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the Landlord. If any return of such deposit or the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 4 contracts

Samples: Sublease (Natera, Inc.), Sublease (Natera, Inc.), Built to Suit Lease (Nektar Therapeutics)

Deposit. 6.1 13.1 The Deposit will TENANT shall, on signing hereof, pay a deposit stipulated in clause 1.5 of the Schedule to the LANDLORD, which deposit may be paid into a tenancy increased from time to time to equal…………………( ) months rental. The LANDLORD shall have right to apply the whole or any portion of the deposit scheme within towards payment of any liability of whatsoever nature for which the timescales laid out TENANT is responsible. If the whole or any portion of the deposit is so applied, the LANDLORD shall notify the TENANT in writing and the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“TENANT shall immediately reinstate the Regulations”)deposit to its original amount. No interest The deposit shall be paid retained by the Landlord LANDLORD or its agent until the expiry of this lease or any renewal thereof, the vacating of the PREMISES by the TENANT and the complete discharge of all the TENANT’s obligation to the Tenant for the Deposit. 6.2 LANDLORD arising from this lease, or a cancellation or termination hereof. The Tenant agrees and acknowledges that the Landlord will TENANT shall not be entitled to retain sums from set off against the Deposit deposit, any rental or other amount payable by him. 13.2 The parties record for the purposes of the Rental Housing Act of 1999 that the said deposit is to be invested on behalf of the TENANT and interest thereon is to accrue for the benefit of the TENANT. 13.3 At the expiration of the lease, the LANDLORD and the TENANT shall arrange a joint inspection of the PREMISES at the end a mutually convenient time to take place within a period of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, 7 (seven) days prior to the Accommodation and expiration with a share of view to ascertaining if there was or is any damage or compensation caused to the PREMISES during the TENANT’s occupation thereof. 13.4 At the expiration of the lease, the LANDLORD may apply such deposit and interest towards the payment of all amounts for which the TENANT is liable under this lease, including but not being limited to the reasonable cost of repairing damage to the Common Parts PREMISES during the lease period and their respective Contents for the cost of replacing the lost keys. The balance of the deposit and interest, if any, shall then be refunded to the TENANT by the LANDLORD by not later the 14 (fourteen) days of restoration of the PREMISES by the LANDLORD. 13.5 The relevant receipts which indicate the costs which the Tenant may LANDLORD incurred, as contemplated in 13.4 above, must be liable, subject available to an apportionment or allowance the TENANT for fair wear inspection as proof of such costs incurred by the LANDLORD. 13.6 Should no amounts be due and tearowing to the LANDLORD by the TENANT in terms of this lease, the age and condition deposit, together with accrued interest in respect thereof, shall be refunded by the LANDLORD to the TENANT, without any deduction or set off, within 7 (seven) days of each and any such item at the start expiration of the Tenancy Periodlease. 13.7 Failure of the LANDLORD to inspect the PREMISES in the presence of the TENANT, save as contemplated in paragraph 13.3 hereof, is deemed to be an acknowledgement by the LANDLORD that the Deposit may not PREMISES is in good state of repair, and the LANDLORD will have no further claim against the TENANT who must then be used in respect refunded the full deposit, together with interest by the LANDLORD within 7 (seven) days of damage by insured risks and repairs that are the responsibility expiration of the Landlord (save lease. 13.8 Should the TENANT fail to respond to the extent that LANDLORD’s request for an inspection, as contemplated in 13.3 above, the insurance has been invalidated due to the acts LANDLORD must, on expiration of the Tenant [lease inspect the PREMISES within 7 (seven) days from such expiration in order to assess any damages or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for loss which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of occurred during the tenancy. 6.2.5 Any loss arising as a result of . The LANDLORD may in such circumstances, without detracting from any breach by other right or remedy, deduct from the Tenant of their obligations in this tenancy agreement (including TENANT’s deposit and interest, the Landlord's and Agent's proper and reasonable costs of enforcing or attempting repairing damage to enforce the Tenant's obligations PREMISES and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 replacing the Deposit or part lost keys. The balance of the Depositdeposit and interest, if any, will after deduction of the amounts contemplated herein, must then be refunded to the Tenant within TENANT by the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit LANDLORD not later than 21 (or the balance of ittwenty one) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost days after expiration of the banking fee and transfer fee lease. The relevant receipts, which indicate the costs, which the LANDLORD incurred, as contemplated herein, must be available to the TENANT for inspection as proof of such costs incurred by the Landlord. If any LANDLORD. 13.9 For the purposes of this clause 13, should the TENANT vacate the PREMISES before the expiration of the Deposit is due lease, without notice to the LANDLORD, the lease shall be returned at deemed to have expired on the end date the LANDLORD established that the TENANT has vacated the PREMISES but in such event, the LANDLORD shall retain all his rights arising from the TENANT’s breach of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancylease.

Appears in 4 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

Deposit. 6.1 (a) Within ten (10) days after mutual execution of this Lease, Tenant shall deposit with Landlord the sum of Seven Hundred Thirty-Eight Thousand and No/100 Dollars ($738,000.00), which sum (the "SECURITY DEPOSIT") shall be held by Landlord as security for the faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults (beyond any applicable cure period) with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to interest thereon. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Security Deposit, or any balance thereof, shall be returned to Tenant or, at Landlord's option, to the last assignee of Tenant's interest hereunder, at the expiration of the term of this Lease and after Tenant has vacated the Property. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord's successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of such deposit or the accounting thereof. (b) As an alternative to the cash Security Deposit described in Section 18.1(a), Tenant may instead deliver to Landlord, within ten (10) days after mutual execution of this Lease, an irrevocable standby letter of credit (the "LETTER OF CREDIT") issued in favor of Landlord by a federally insured commercial bank or trust company approved in writing by Landlord (which approval shall not be unreasonably withheld), in form and substance satisfactory to Landlord, to be held by Landlord as security for the faithful performance of all the obligations of Tenant under this Lease, subject to the following terms and conditions: (i) The amount of the Letter of Credit shall be at least Seven Hundred Thirty-Eight Thousand and No/100 Dollars ($738,000.00), and Tenant shall maintain the Letter of Credit in that amount in full force and effect throughout the term of this Lease (including any extensions thereof) and until thirty (30) days after the expiration of the term of this Lease, unless Tenant elects at any time to replace the Letter of Credit with a full cash Security Deposit in compliance with Section 18.1(a). The Letter of Credit may be for an initial one-year term, with automatic renewal provisions, provided that Landlord shall be given at least thirty (30) days prior written notice if the Letter of Credit will not be paid into renewed as of any otherwise applicable renewal date and shall be entitled to draw against the expiring Letter of Credit if a tenancy deposit scheme within replacement Letter of Credit is not furnished to Landlord at least twenty (20) days prior to the timescales laid out scheduled expiration date, as provided in Section 18.2(b)(iii)(A) below. (ii) Landlord shall be entitled (but shall not be required) to draw against the Letter of Credit and receive and retain the proceeds thereof upon any default (beyond any applicable cure period) by Tenant in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall payment of any rent or other amounts required to be paid by Tenant under this Lease, or upon the occurrence of any other event of default (beyond any applicable cure period) under this Lease. The amount of the draw shall not exceed the amount of the payments (if any) as to which Tenant is then in default and/or the amount reasonably necessary to cure any non-monetary events of default by Tenant, and shall be applied by Landlord to the cure of the applicable default(s). Following any partial draw under this paragraph (ii), if Tenant for fully cures all outstanding defaults and provides Landlord with a new Letter of Credit in the Deposit. 6.2 The Tenant agrees full required amount under this Section 18.1, Landlord shall surrender and acknowledges that return to Tenant, within ten (10) days after Tenant's satisfaction of the Landlord will be entitled to retain sums from foregoing conditions, the Deposit at the end Letter of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for Credit under which the Tenant may be liablepartial draw was made, subject to an apportionment or allowance for fair wear and tear, together with any proceeds not already applied by Landlord toward the age and condition of each and any such item at the start cure of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]applicable default(s). 6.2.2 The reasonable costs incurred (iii) Landlord shall also be entitled (but shall not be required) to draw against the Letter of Credit in compensating full and to receive the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant entire proceeds thereof under either of the Tenant's obligations in this tenancy agreement, including those relating following circumstances: (A) If the Letter of Credit will expire as of a date prior to the cleaning thirty (30) days after the expiration of the Accommodation term of this Lease and Tenant fails to provide to Landlord an extension or replacement of such Letter of Credit, in at least the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant minimum amount required under this tenancy agreement of which Section 18.1(b), at least twenty (20) days prior to the Tenant has been made aware and which remains unpaid after the end scheduled expiration date of the tenancy.Letter of Credit; or 6.2.5 Any loss arising (B) If, as a result of a draw against the Letter of Credit by Landlord or for any breach other reason, the amount of the Letter of Credit falls below the minimum amount required to be maintained from time to time pursuant to this Section 18.1(b) and Tenant has failed to cause the Letter of Credit to be restored to at least the minimum required amount within ten (10) days after written demand by Landlord. (iv) If Landlord draws against the Tenant Letter of their obligations Credit in this tenancy agreement any of the circumstances described in subparagraph (including the Landlord's and Agent's proper and reasonable costs of enforcing iii) above, Landlord shall use, apply and/or retain all or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or any part of the Deposit, if any, will be refunded to amount drawn for the Tenant within the timescales as laid out in the Regulationscure of any then existing defaults under this Lease. Where the Tenant requests the Landlord to send the Deposit (Any amount drawn that is not immediately so used or the balance of it) to an overseas bank account the applied by Landlord shall be entitled retained by Landlord as a cash security deposit, subject to deduct and in accordance with the sum provisions of £20 from the Deposit to cover the cost Section 18.1(a); PROVIDED, however, if Tenant fully cures all of the banking fee outstanding defaults described in subparagraph (iii) above and transfer fee incurred provides Landlord with a new Letter of Credit in the full amount required under this Section 18.1, Landlord shall surrender and return to Tenant, within ten (10) days after Tenant's satisfaction of the foregoing conditions, any proceeds drawn by Landlord and not already applied by Landlord toward the cure of the applicable default(s). (c) Any actual or purported withdrawal, rescission, termination or revocation of the Letter of Credit by the Landlord. If any issuer thereof prior to the expiration of the Deposit is due to be returned at the end term of the tenancy, the Landlord will pay the refund this Lease (except when replaced prior to the Tenanteffectiveness of such withdrawal, irrespective rescission, termination or revocation by a replacement Letter of who paid the Deposit to the Landlord at the start Credit as contemplated in Section 18.1(b)(iii)(A) hereof) shall be a material breach of the tenancythis Lease.

Appears in 3 contracts

Samples: Build to Suit Lease (Pharmacopeia Inc), Build to Suit Lease (Pharmacopeia Inc), Build to Suit Lease (Pharmacopeia Inc)

Deposit. 6.1 The Deposit will be paid into a tenancy Within ten (10) business days after the date this Agreement is executed by the Sellers and delivered to District, the District shall deposit scheme within the timescales laid out in sum of Five Thousand Dollars ($5,000.00) with Escrow Holder (together with all interest thereon, the Tenancy Deposit Schemes (Scotland) Regulations 2011 (the RegulationsDeposit”). No interest The Deposit shall be paid held by Escrow Holder in an interest bearing account. The Deposit shall be credited to the Purchase Price at the Close of Escrow. In the event the Close of Escrow does not occur due to a default by District, the Deposit shall be delivered to and retained by the Landlord to the Tenant Sellers as liquidated damages for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from such default. If this Agreement is terminated for any reason other than a default by District, then the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled returned to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the LandlordDistrict. If any of the Deposit is due to be returned at the end of the tenancyDISTRICT AND THE SELLERS AGREE THAT BASED UPON THE CIRCUMSTANCES NOW EXISTING, the Landlord will pay the refund to the TenantKNOWN AND UNKNOWN, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.IT WOULD BE IMPRACTICAL OR EXTREMELY DIFFICULT TO ESTABLISH SELLERS’ DAMAGES BY REASON OF A DEFAULT BY DISTRICT PRIOR TO THE CLOSE OF ESCROW. DISTRICT AND THE SELLERS AGREE THAT THE DEPOSIT AND ALL INTEREST EARNED THEREON IN ESCROW IS A REASONABLE ESTIMATE OF THE SELLERS’S DAMAGES IF THE CLOSE OF ESCROW FAILS TO OCCUR DUE TO DISTRICT’S DEFAULT. ACCORDINGLY, DISTRICT AND THE SELLERS AGREE THAT IN THE EVENT OF A DEFAULT BY DISTRICT PRIOR TO THE CLOSE OF ESCROW, THE SELLERS SHALL BE ENTITLED TO THE DEPOSIT AS LIQUIDATED DAMAGES. THE SELLERS’ SOLE AND EXCLUSIVE REMEDY IN THE EVENT OF DISTRICT’S DEFAULT SHALL BE LIMITED TO THE RECOVERY OF THE DEPOSIT AND ALL INTEREST EARNED THEREON IN ESCROW AND THE SELLERS HEREBY WAIVES ALL OTHER CLAIMS FOR DAMAGES OR RELIEF AT LAW OR IN EQUITY (INCLUDING, WITHOUT LIMITATION, ANY RIGHTS TO SPECIFIC PERFORMANCE THAT THE SELLERS MAY HAVE PURSUANT TO CALIFORNIA CIVIL CODE SECTIONS 1680 OR 3389, OR OTHERWISE). District Initials: Sellers Initials:

Appears in 2 contracts

Samples: Disposition and Development Agreement, Disposition and Development Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant’s execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in sum of One Hundred Ninety-Eight Thousand Two Hundred Eighty-Eight and No/100 Dollars ($198,288.00), which sum (the Tenancy Deposit Schemes (Scotland“Security Deposit”) Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults (beyond any applicable cure period) with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant’s failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord’s general funds, and Tenant shall not be entitled to retain sums from interest thereon. Provided that no uncured event of default by Tenant then exists under this Lease, the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damageSecurity Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord’s option, to the Accommodation last assignee of Tenant’s interest hereunder (unless different instructions have been presented to Landlord in a writing signed by both Tenant and a share such assignee), in no event more than thirty (30) days after (i) the term of any damage this Lease has expired or compensation for damage to terminated, (ii) Tenant has vacated the Common Parts Property and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start surrendered possession of the Tenancy PeriodPremises to Landlord, save that the Deposit may not be used and (iii) Tenant has fully performed its obligations under or arising out of this Lease, including, without limitation, (A) obtaining any signoffs, releases and other required actions or documents from any applicable governmental authorities and completing any other applicable decommissioning, site closure or other procedures required by any applicable governmental authorities as a result of or in respect of damage by insured risks connection with Tenant’s use and repairs that are the responsibility occupancy of the Landlord Premises (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent forincluding, or for rectifying or remedyingbut not limited to, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach use or storage of radioactive or other hazardous materials on or about the Premises by Tenant) and delivering written evidence of such compliance to Landlord, and (B) in the case of a termination of this Lease following a default by Tenant, paying future rent damages recoverable under applicable law as a result of such default. Tenant expressly and voluntarily waives any and all provisions of their obligations and benefits under California Civil Code Section 1950.7 to the extent such provisions could otherwise be interpreted or applied to require a repayment of any portion of Tenant’s Security Deposit prior to the time specified in the immediately preceding sentence. In the event of termination of Landlord’s interest in this tenancy agreement (including Lease by assignment or otherwise, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the Landlord's and Agent's proper and reasonable costs return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 2 contracts

Samples: Lease Agreement, Lease (Complete Genomics Inc)

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant’s execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in sum of One Hundred Fifty-Nine Thousand Two Hundred and No/100 Dollars ($159,200.00), which sum (the Tenancy Deposit Schemes (Scotland“Security Deposit”) Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms; covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant’s failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord’s general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord’s option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant’s interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Property. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations Landlord’s interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 2 contracts

Samples: Sublease (Five Prime Therapeutics Inc), Sublease (Five Prime Therapeutics Inc)

Deposit. 6.1 The Subtenant will pay to the Sublandlord: (a) the sum of $66,358.65 (the “Deposit”) (being a sum equal to two months’ Sublease Rent) to be applied to the first and second months’ Sublease Rent; and (b) a clean, unconditional, irrevocable letter of credit (the ‘”Letter of Credit”) issued by a chartered bank in the amount of $50,000.00 and in a form acceptable to the Sublandlord, renewable annually with the amount of the Letter of Credit diminishing by 50% at the renewal date each year, both tendered to the Subtenant’s agent, Devencore Company Limited, within 72 hours of the receipt of the Head Landlord’s Consent. The Deposit (until such time as it is fully drawn down in accordance with Section 8(a) and the Letter of Credit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid held by the Landlord to Sublandlord, without any liability whatsoever on the Tenant part of the Sublandlord for the Deposit. 6.2 The Tenant agrees payment of interest thereon, as security for the faithful performance by the Subtenant of all of the provisions of the Sublease and acknowledges that the Landlord will Head Lease to be entitled performed or observed by the Subtenant. If the Subtenant fails to retain sums from the Deposit at the end pay Sublease Rent or otherwise defaults with respect to any provision of this tenancy agreement in respect ofSublease, the Sublandlord may: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of c) fully draw upon the Deposit, if any, or the Letter of Credit and apply all or a portion of that draw for the payment of any rent in default, or for the payment of any other expense which the Sublandlord may incur by reason of the Subtenant’s default, or to compensate the Sublandlord for any loss or damage which the Sublandlord may suffer thereby; or (d) if the Letter of Credit has been previously drawn upon, apply all or a portion of any cash held by the Sublandlord from that draw for the payment of any Sublease Rent in default, or for the payment of any other expense which the Sublandlord may incur by reason of the Subtenant’s default, or to compensate the Sublandlord for any loss or damage which the Sublandlord may suffer thereby. Any excess amount remaining from a draw upon the Letter of Credit after the remedying of the Subtenant’s default will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred held by the LandlordSublandlord on the terms and conditions set out herein. If any amount is applied by the Sublandlord, the Subtenant will, forthwith after notice of such application, replenish any funds held by the Sublandlord to the amount set out above. If the Subtenant performs all of its obligations under this Sublease and the Head Lease, the Letter of Credit, or so much thereof as has not theretofore been applied by the Sublandlord, will be returned by the Sublandlord to the Subtenant within 30 days of the Deposit is due to be returned at the end expiration of the tenancy, Sublease Term. No trust relationship is created herein between the Landlord will pay Sublandlord and the refund Subtenant with respect to the Tenant, irrespective Letter of who paid Credit or the Deposit to the Landlord at the start of the tenancyDeposit.

Appears in 2 contracts

Samples: Sublease (ProNAi Therapeutics Inc), Sublease (ProNAi Therapeutics Inc)

Deposit. 6.1 a. If not paid prior to the date hereof the Tenant agrees to pay the Deposit to the Landlord on the date of this agreement. b. The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest Landlord shall be paid by the Landlord entitled at any time to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums deduct from the Deposit at such proportion (up to 100%) of the end Deposit as may be reasonably necessary to rectify any breaches by the Tenant of the terms of this tenancy agreement in respect ofagreement, including the following: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of i. making good any damage or compensation for damage to the Common Parts and their respective Property or the Contents for which the Tenant may be liable, subject to an apportionment or allowance (except for fair wear and tear, the age and condition of each and ); ii. replacing any such item at the start of the Tenancy Period, save that Contents which may be missing from the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [Property or in respect of damaged beyond repair; iii. paying any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees outstanding Rent or other money due or payable by the Tenant under this tenancy agreement of which the Tenant Tenancy has been made aware and which remains unpaid after the end date on which this payment was due; iv. paying for the Property and the Contents to be cleaned (if the Tenant is in breach of his/her obligations under this agreement); v. paying any unpaid charges for any utilities, water charges or council tax incurred at the tenancy.Property for which the Tenant is liable; and 6.2.5 Any loss arising vi. paying any legal or professional fees incurred by the Landlord as a result of any breach breaches by the Tenant of their obligations in the terms of this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations on a full indemnity basis, and the costs Landlord will notify the Tenant as soon as practicable of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 any such deduction made before the Deposit or part end of the Deposit, if any, will Term whereupon the Tenant shall be refunded obliged to pay to the Tenant within Landlord an amount equal to such deduction to replenish the timescales as laid out in the Regulations. Where Deposit. c. If the Tenant requests fails to vacate the Landlord Property at the end of the Term (as required by clause 13.c of this agreement) then in addition to send the Deposit (or the balance of it) to an overseas bank account above sums the Landlord shall be entitled to deduct the sum of £20 from the Deposit such proportion (up to cover 100%) of the Deposit as may be reasonably necessary to pay any of the following: a) the cost of unpaid charges for council tax or any utilities, water charges or other similar services incurred at the banking fee Property in relation to the period after the Term and transfer fee incurred by whilst the Landlord. If any Tenant remained in occupation and b) an amount equal to the amount of rent which the Deposit is due Landlord could have charged if the Property had been let to be returned at another tenant from the day after the end of the tenancyTerm onwards, calculated on a daily rate until the Landlord will pay Tenant vacates the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.Property; and

Appears in 2 contracts

Samples: Tenancy Agreement, Tenancy Agreement

Deposit. 6.1 8.1 You must pay a Deposit of (repeat as per page 3) £ to (write ‘us’ or ‘our Agent’ as required) to be protected as security towards the discharge or part discharge of any liability referred to in Clause 8.4 of this Agreement and subject to this on trust for you absolutely. The Deposit is held by (write ‘us’ or ‘our Agent as Stakeholder’ as required) who is a member of the government approved tenancy deposit scheme (insert scheme name): 8.2 If the Deposit is held in a custodial-based government approved tenancy deposit scheme, any interest on the Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to you subject to the Tenant for terms and conditions of the scheme. If the Deposit is held by us or our Agent you will not receive interest on the Deposit. 6.2 8.3 The Tenant agrees Deposit shall be returned to you (less any deductions properly made) within 10 working days of the end of the Tenancy upon vacant possession of the Property and acknowledges that return of the Landlord will keys if you have kept to all the obligations within this Agreement. 8.4 Monies shall be entitled to retain sums deducted from the Deposit at in respect of all reasonable costs and expenses incurred by us (including but not limited to the end costs and fees of this tenancy agreement our solicitors and other professional advisors) in respect of: 6.2.1 Any damage, 8.4.1 the recovery from you of any Rent or any other money which is in arrears; 8.4.2 the enforcement of any of the provisions of this Agreement; 8.4.3 compensation for damage, in respect of your use and occupation in the event that you fail to vacate the Property on the due date; 8.4.4 the service of any notice relating to the Accommodation and a share breach by you of any damage of your obligations under this Agreement whether or compensation for damage not the same shall result in court proceedings; 8.4.5 the cost of any bank or other charges incurred by us if any cheque written by you is dishonoured or if any standing order payment is withdrawn by your bankers; 8.4.6 the cost of repairing, decorating or cleaning the Property or the Contents so they are to the Common Parts and their respective Contents for which same standard as at the Tenant may be liable, subject to an apportionment or allowance for commencement of the Tenancy (fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]tear excepted).; 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover 8.4.7 the cost of replacing any items listed in the banking fee and transfer fee incurred by Inventory which are missing from the Landlord. If any of the Deposit is due to be returned Property at the end of the tenancyTenancy; 8.4.8 the cost of removal, storage and disposal by us of any goods or personal effects belonging to you or members of your household which have been left at the Landlord will pay Property after the refund expiry or termination of the Tenancy in accordance with Clause 1.53 of this Agreement; 8.4.9 any other monies owed by you to us; 8.4.10 our reasonable costs in reinstating the TenantProperty owing to your breach of any conditions of this Agreement; and 8.4.11 the Policy excess of (repeat as per page 5) £ incurred as a result of a claim on our insurance, irrespective of who paid attributable to your act or failure to act. 8.5 If the Deposit shall be insufficient you shall pay us such additional sums as shall be required to the Landlord at the start of the tenancycover all costs, charges and expenses properly due.

Appears in 2 contracts

Samples: Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement

Deposit. 6.1 5.1 The Deposit will OWNER/CONTRACTOR shall, before commencing any work of whatever nature on the ERF, pay to the HOA an amount of R10 000,00 (TEN THOUSAND RAND) which shall constitute a security deposit for damage of whatever nature which may be paid into caused by the CONTRACTOR to any portion of the DEVELOPMENT; 5.2 The OWNER/CONTRACTOR irrevocably authorises the HOA to invest the said amount of R10 000,00 (TEN THOUSAND RAND) on call with a tenancy deposit scheme within the timescales laid out bank or financial institution (determined in the Tenancy Deposit Schemes (Scotlanddiscretion of the HOA) Regulations 2011 (“with interest accruing for the Regulations”). No benefit of the HOA save that the deposit together with the accrued interest shall be paid by the Landlord available for payment of any claim as provided in this clause 5; 5.3 Any claim arising as contemplated in clause 5.1 is not limited to the Tenant for amount of the Deposit. 6.2 The Tenant agrees deposit and acknowledges that accrued interest, and the Landlord will HOA shall be entitled to retain sums recover from the Deposit at the end of this tenancy agreement OWNER and CONTRACTOR, in respect of: 6.2.1 Any damage, or compensation for damage, addition to the Accommodation and a share deposit, the amount by which the reasonable costs of reinstatement resulting from such damage exceeds the said deposit; 5.4 The cost of any damage attributable to the CONTRACTOR shall be quantified by a suitable professional (depending on the nature of the damage) appointed by the HOA and the amount so determined shall be final and binding on the OWNER and CONTRACTOR; 5.5 If the HOA alleges that the conduct of the CONTRACTOR, whether by commission or compensation for omission, is the cause of any damage to any portion of the Common Parts DEVELOPMENT then the OWNER and their respective Contents CONTRACTOR shall be presumed to be liable unless they are able to prove the contrary; 5.6 If the OWNER/CONTRACTOR fails to dispute any claim made in terms of the aforegoing clause within 10 (TEN) days of receiving notice thereof, they shall be liable for payment of the cost arising therefrom as determined by a suitable professional in terms of the aforegoing; 5.7 If the claim is disputed, the HOA shall be entitled to forthwith institute proceedings against the OWNER/CONTRACTOR for recovery of the amount of the claim; 5.8 The OWNER/CONTRACTOR shall forthwith pay to the HOA the amount for which it is liable in terms of this clause in order to ensure that the Tenant may be liable, subject to an apportionment or allowance for fair wear and teardeposit is maintained at the original amount. As appears from clause 5.3, the age and condition of each and any such item at OWNER/CONTRACTOR shall remain liable to the start HOA for payment of the Tenancy Period, save that amount (if any) by which the Deposit may not be used claim exceeds the deposit; 5.9 Upon final completion of all work by the CONTRACTOR on the ERF and provided there is no claim pending against the CONTRACTOR in respect of damage by insured risks and repairs that are the responsibility terms of the Landlord (save aforegoing, the OWNER shall be entitled to the extent that the insurance has been invalidated due to the acts receive payment of refund of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (deposit together with accrued interest thereon or the balance of it) the deposit and interest if any portion was appropriated for payment of a claim; 5.10 If a claim is made against the CONTRACTOR pursuant to an overseas bank account the Landlord shall provisions of clause 6, the HOA shall, in addition to the rights aforementioned, be entitled to deduct the sum of £20 recover from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to OWNER / CONTRACTOR who shall be returned at the end of the tenancy, the Landlord will pay the refund liable to the Tenant, irrespective HOA for payment of who paid all the Deposit to HOA's legal costs incurred on the Landlord at the start of the tenancyscale as between attorney and own client.

Appears in 2 contracts

Samples: Contractor's Conduct Agreement, Contractor's Conduct Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Contemporaneously with Tenant's execution and delivery of this Lease, Tenant shall deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the with Landlord an amount equal to the first full month's Base Rent, such amount to be held by Landlord during the Term as security for Tenant's performance of its obligations hereunder. If Tenant fails to make any payment when due under this Lease, or otherwise defaults with respect to any provision of this Lease, Landlord may use, apply or retain all or any portion of said deposit for the Deposit. 6.2 The payment of such obligation or default, or for the payment of any other sum to which Landlord may be become obligated by reason of Tenant's default, or to compensate Landlord for any loss or damage that Landlord may suffer thereby. If Landlord so uses or applies all or any portion of said deposit, Tenant agrees shall, within ten (10) days after written demand therefor from Landlord, deposit cash with Landlord in an amount sufficient to restore said deposit to the full amount stated in this Paragraph IV(16), and acknowledges that Tenant's failure to do so shall constitute an Event of Default under this Lease. If Tenant performs all of Tenant's obligations hereunder, Landlord shall return said deposit (or so much thereof as has not theretofore been applied by Landlord as permitted under this Paragraph IV(16)) within sixty (60) days following the date of expiration of the Term or the date on which Tenant has vacated the Premises. Landlord will shall not be required to keep said security deposit separate from its general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulationsinterest on said deposit. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct deliver the sum funds constituting the deposit hereunder to any purchaser of £20 Landlord's interest in the Premises, whether by sale, foreclosure, deed in lieu of foreclosure, or otherwise, and upon such delivery, Landlord shall be discharged from the Deposit any further liability with respect to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancysaid deposit.

Appears in 2 contracts

Samples: Lease Agreement (Pyramid Breweries Inc), Lease Agreement (Pyramid Breweries Inc)

Deposit. 6.1 (a) The Deposit will be paid into a Tenant must pay the £400 refundable tenancy deposit scheme within to the timescales laid Landlord as set out in the Tenancy Deposit Schemes payment schedule as security towards the discharge or part discharge of any liability referred to in sub-clause (Scotlandc)and subject to this is to be held on trust for the Tenant (b) Regulations 2011 (“the Regulations”). No interest The refundable tenancy deposit shall be paid by held on the Landlord terms of a deposit protection scheme established under to the Housing Act 2004 Section 212 ('the Scheme') the details of which will be notified to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start commencement of the Tenancy Period, save and the parties agree that any provisions of the Scheme which need to be incorporated into the Tenancy will be incorporated herein on notification to the Tenant of those provisions. The Landlord shall comply promptly with his obligations under the Scheme. (c) The following sums may be paid out of the Deposit may not be used to the Landlord in respect of damage by insured risks and repairs that are accordance with the responsibility terms of the Landlord Scheme: (save i) any Rent or other payments due from the Tenant to the extent Landlord, including advance rent that the insurance has been invalidated due to the acts of the Tenant [or in respect of fallen due; (ii) any excess]). 6.2.2 The reasonable costs incurred in compensating sum the Landlord and/or the Agent for, expends or for rectifying or remedying, incurs in remedying any major breach failure by the Tenant of the Tenant's to comply with his obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid agreement; and (iii) after the end of the tenancy. 6.2.5 Any loss arising as a result Term, any sum owing to the Landlord equivalent to rent in respect of any breach period of unauthorised occupation by the Tenant or anyone under his control; (d) If the refundable tenancy deposit or part of their obligations it is applied as authorised by sub-clause (c) and in this tenancy agreement (including accordance with the terms of the Scheme, the Tenant must, at the Landlord's and Agent's proper and reasonable costs of enforcing or attempting written request, pay the Landlord a further sum to enforce restore the Tenant's obligations Deposit to the agreed amount stated in the Particulars and the costs of instructing advisers)Landlord shall comply promptly with his obligations under the Scheme in relation to this further sum. 6.3 (e) Subject to Clauses 6.1 or 6.2 the Deposit or part provisions of sub-clause (d), the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (refundable tenancy deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to it must be returned at to the Tenant after the end of the tenancy, Term in accordance with the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start provisions of the tenancyScheme but any interest earned on the refundable tenancy deposit may be retained by the Landlord.

Appears in 2 contracts

Samples: Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Concurrently with Tenant’s execution of this Lease, Tenant shall deposit with Landlord the sum of One Hundred Seventy-Five Thousand and No/100 Dollars ($175,000.00), which sum (the “Security Deposit”) shall be held by Landlord as security for the faithful performance of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. On or before the Direct Term Commencement Date, Tenant shall deposit with Landlord an additional sum of One Hundred Seventy-Five Thousand and No/100 Dollars ($175,000.00), which sum shall be added to and held as part of the Security Deposit will be paid into a tenancy deposit scheme within the timescales laid out (in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”then aggregate amount of $350,000.00). No interest If Tenant defaults (beyond any applicable notice and cure period) with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and Tenant’s failure to do so shall be paid by the a material breach of this Lease. Landlord shall not be required to the keep any deposit under this Section separate from Landlord’s general funds, and Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will shall not be entitled to retain sums from interest thereon. Provided that no uncured event of default by Tenant then exists under this Lease, the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damageSecurity Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord’s option, to the Accommodation last assignee of Tenant’s interest hereunder (unless different instructions have been presented to Landlord in a writing signed by both Tenant and a share such assignee), in no event more than thirty (30) days after (i) the term of any damage this Lease has expired or compensation for damage to terminated, (ii) Tenant has vacated the Common Parts Property and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start surrendered possession of the Tenancy PeriodPremises to Landlord, save that the Deposit may not be used and (iii) Tenant has fully performed its obligations under or arising out of this Lease, including, without limitation, (A) obtaining any signoffs, releases, closure letters and other required actions or documents from any applicable governmental authorities and completing any other applicable decommissioning, site closure or other procedures required by any applicable governmental authorities as a result of or in respect of damage by insured risks connection with Tenant’s use and repairs that are the responsibility occupancy of the Landlord Premises (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent forincluding, or for rectifying or remedyingbut not limited to, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach use or storage of radioactive or other hazardous materials on or about the Premises by Tenant) and delivering written evidence of such compliance to Landlord, and (B) in the case of a termination of this Lease following a default by Tenant, paying future rent damages recoverable under applicable law as a result of such default. Tenant expressly and voluntarily waives any and all provisions of their obligations and benefits under California Civil Code Section 1950.7 to the extent such provisions could otherwise be interpreted or applied to require a repayment of any portion of Tenant’s Security Deposit prior to the time specified in the immediately preceding sentence. In the event of termination of Landlord’s interest in this tenancy agreement (including Lease by assignment or otherwise, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the Landlord's and Agent's proper and reasonable costs return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 2 contracts

Samples: Lease (Five Prime Therapeutics Inc), Lease (Five Prime Therapeutics Inc)

Deposit. 6.1 8.1 You must pay a Damage Deposit of £XXXX. to us to be protected as security towards the discharge or part discharge of any liability referred to in Clause 8.4 of this Agreement and subject to this on trust for you absolutely. The Deposit is held by us where we are a member of the government approved tenancy deposit scheme TDS. 8.2 If the Deposit is held in a custodial-based government approved tenancy deposit scheme, any interest on the Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to you subject to the Tenant for terms and conditions of the scheme. If the Deposit is held by us or our Agent you will not receive interest on the Deposit. 6.2 8.3 The Tenant agrees Deposit shall be returned to you (less any deductions properly made) within 30 working days of the end of the Tenancy upon vacant possession of the Property and acknowledges that return of the Landlord will keys if you have kept to all the obligations within this Agreement. 8.4 Monies shall be entitled to retain sums deducted from the Deposit at in respect of all reasonable costs and expenses incurred by us (including but not limited to the end costs and fees of this tenancy agreement our solicitors and other professional advisors) in respect of: 6.2.1 Any damage, 8.4.1 the recovery from you of any Rent or any other money which is in arrears; 8.4.2 the enforcement of any of the provisions of this Agreement; 8.4.3 compensation for damage, in respect of your use and occupation in the event that you fail to vacate the Property on the due date; 8.4.4 the service of any notice relating to the Accommodation and a share breach by you of any damage of your obligations under this Agreement whether or compensation for damage not the same shall result in court proceedings; 8.4.5 the cost of any bank or other charges incurred by us if any cheque written by you is dishonoured or if any standing order payment is withdrawn by your bankers; 8.4.6 the cost of repairing, decorating or cleaning the Property or the Contents so they are to the Common Parts and their respective Contents for which same standard as at the Tenant may be liable, subject to an apportionment or allowance for commencement of the Tenancy (fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]tear excepted).; 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover 8.4.7 the cost of replacing any items listed in the banking fee and transfer fee incurred by Inventory which are missing from the Landlord. If any of the Deposit is due to be returned Property at the end of the tenancyTenancy; 8.4.8 the cost of removal, storage and disposal by us of any goods or personal effects belonging to you or members of your household which have been left at the Landlord will pay Property after the refund expiry or termination of the Tenancy in accordance with Clause 1.53 of this Agreement; 8.4.9 any other monies owed by you to us; 8.4.10 our reasonable costs in reinstating the TenantProperty owing to your breach of any conditions of this Agreement; and 8.4.11 the Policy excess of £500 incurred as a result of a claim on our insurance, irrespective of who paid attributable to your act or failure to act. 8.5 If the Deposit shall be insufficient you shall pay us such additional sums as shall be required to the Landlord at the start of the tenancycover all costs, charges and expenses properly due.

Appears in 2 contracts

Samples: Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement

Deposit. 6.1 8.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest sum of <=Deposit> shall be paid by [enter name and address of deposit payer] "The Relevant Person" to the Landlord Landlord/Agent upon the signing of this Agreement by way of a security deposit (“the Deposit”). 8.2 Upon the Tenant vacating the Premises and after deduction of all agreed or authorised deductions, the balance of the Deposit shall be refunded to the person or persons outlined at clause 8.1 above. • Where the Agent is holding the Deposit it will do so as a Stakeholder. 8.3 The Landlord’s Agent will register the Deposit within thirty days of the commencement of the Tenancy or receipt of the Deposit, whichever is earlier, and give to the Tenant for and to any Relevant Person a copy of the Prescribed Information together with details of the scheme applicable to the registration of the Deposit. 6.2 8.4 Where the Deposit is held by the Agent, then any interest earned on the holding of the Deposit will belong to the Agent 8.5 The Tenant agrees and acknowledges Deposit has been taken for the following purposes: 8.5.1 Any fees or other monies that the Landlord will be Agent is entitled to retain sums recover from the Deposit at Tenant pursuant to the Agreement. 8.5.2 Any rent or other money due or payable by the Tenant under the Tenancy of which the Tenant has been made aware and which remains unpaid after the end of this tenancy agreement in respect of:the Tenancy. This will include a fee which any Agent is entitled to recover from the Tenant. 6.2.1 8.5.3 Any damage, or compensation for damage, to the Accommodation Premises, its Fixtures and a share of any damage Fittings, or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each each, and any such item at the start commencement of the Tenancy PeriodTenancy, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Landlord. 6.2.2 8.5.4 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's ’s obligations in this tenancy agreementunder the Agreement, including those relating to the cleaning of the Accommodation Premises and the Common Parts its fixtures and their respective Contentsfittings, and contents. 6.2.3 8.5.5 Any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 isliable. Note: Adjudicators will consider claims against the Deposit or part of in the Deposit, if any, will be refunded to the Tenant within the timescales as laid order set out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyTenancy Agreement.

Appears in 2 contracts

Samples: Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's ’s and Agent's ’s proper and reasonable costs of enforcing or attempting to enforce the Tenant's ’s obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 2 contracts

Samples: Student Tenancy Agreement, Short Assured Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within 7.5.1 On or before the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to execution of this Lease, the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will must pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at for the start Landlord’s absolute benefit and use. The Landlord does not hold the Deposit on trust for the Tenant nor is any interest payable on the Deposit. The Landlord may, without prejudice to any other right, apply the Deposit or a sum up to the equivalent of the tenancyDeposit to remedy a breach of any obligation of the Tenant under this Lease and to indemnify the Landlord against any direct or indirect costs or losses, including legal costs on an indemnity basis. At the end of the Term, the Landlord will without prejudice to the Landlord’s other rights within 30 days after the later of the date on which the Tenant has surrendered vacant possession of the Premises to the Landlord or has settled and paid the last outstanding claim by the Landlord against the Tenant for any arrears of Rent and other charges and remedied or compensated the Landlord for any breach non-observance or non-performance of any of the terms and conditions herein contained and on the part of the Tenant to be observed or performed, repay to the Tenant a sum equivalent to the amount of the Deposit without interest, less any amount required to pay the outstanding amount and remedy the Tenant’s breaches. 7.5.2 Whenever there is an increase in the Rent and/or Management Charge and/or rates and Government rent or if the Landlord applies any sum up to the equivalent of the Deposit during the Term, the Tenant must upon demand by the Landlord pay an additional sum equivalent to three times the amount of such increase, or a sum sufficient to replace the sum so applied by the Landlord (as the case may be) such that the Landlord will hold a sum of no less than the aggregate of three months’ Rent, Management Charge, rates and Government rent as Deposit at all times during the Term. 7.5.3 Notwithstanding anything herein contained, the Tenant hereby expressly agrees that in the event of the Landlord assigning and transferring the ownership of the Premises to any person (the New Landlord) prior to the expiration or sooner determination of the Term subject to and with the benefit of this Lease, the Landlord may transfer the Deposit (as the same may be revised from time to time) paid by the Tenant hereunder (less any deduction which the Landlord may make according to the terms and conditions of this Lease) or the balance thereof after the said deduction to the New Landlord and in that event upon request of the Landlord the Tenant must sign a novation agreement (to be in the form prepared by the Landlord’s solicitors) regarding the transfer of the Deposit or the balance thereof after the said deduction with the Landlord and the New Landlord; and the Tenant shall waive all claims against the Landlord for the repayment of a sum equivalent to the amount of the Deposit transferred to the New Landlord but nothing herein provided shall prejudice or affect the right of the Tenant to claim against the New Landlord for repayment of the same. A written notice sent by the Landlord or the Landlord’s solicitors by ordinary post to the Tenant to the address stated herein notifying the Tenant of the change of ownership of the Premises shall be conclusive evidence that the Deposit or the balance thereof has been transferred to the New Landlord unless contrary intention is expressed in the notice.

Appears in 2 contracts

Samples: Lease Agreement (Sinohub, Inc.), Lease Agreement (Sinohub, Inc.)

Deposit. 6.1 (a) The Deposit will be paid into a Tenant must pay the £300 refundable tenancy deposit scheme within to the timescales laid Landlord as set out in the Tenancy Deposit Schemes payment schedule as security towards the discharge or part discharge of any liability referred to in sub-clause (Scotlandc) Regulations 2011 and subject to this is to be held on trust for the Tenant absolutely. (“the Regulations”). No interest b) The refundable tenancy deposit shall be paid by held on the Landlord terms of a deposit protection scheme established under to the Housing Xxx 0000 Section 212 ('the Scheme') the details of which will be notified to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start commencement of the Tenancy Period, save and the parties agree that any provisions of the Scheme which need to be incorporated into the Tenancy will be incorporated herein on notification to the Tenant of those provisions. The Landlord shall comply promptly with his obligations under the Scheme. (c) The following sums may be paid out of the Deposit may not be used to the Landlord in respect of damage by insured risks and repairs that are accordance with the responsibility terms of the Landlord Scheme: (save i) any Rent or other payments due from the Tenant to the extent Landlord, including advance rent that the insurance has been invalidated due to the acts of the Tenant [or in respect of fallen due; (ii) any excess]). 6.2.2 The reasonable costs incurred in compensating sum the Landlord and/or the Agent for, expends or for rectifying or remedying, incurs in remedying any major breach failure by the Tenant of the Tenant's to comply with his obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid agreement; and (iii) after the end of the tenancy. 6.2.5 Any loss arising as a result Term, any sum owing to the Landlord equivalent to rent in respect of any breach period of unauthorised occupation by the Tenant or anyone under his control; (d) If the refundable tenancy deposit or part of their obligations it is applied as authorised by sub-clause (c) and in this tenancy agreement (including accordance with the terms of the Scheme, the Tenant must, at the Landlord's and Agent's proper and reasonable costs of enforcing or attempting written request, pay the Landlord a further sum to enforce restore the Tenant's obligations Deposit to the agreed amount stated in the Particulars and the costs of instructing advisers)Landlord shall comply promptly with his obligations under the Scheme in relation to this further sum. 6.3 (e) Subject to Clauses 6.1 or 6.2 the Deposit or part provisions of sub-clause (d), the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (refundable tenancy deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to it must be returned at to the Tenant after the end of the tenancy, Term in accordance with the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start provisions of the tenancyScheme but any interest earned on the refundable tenancy deposit may be retained by the Landlord.

Appears in 2 contracts

Samples: Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement

Deposit. 6.1 C.1 The Deposit Tenant shall not be entitled to withhold the payment of any instalment of rent or any other monies payable under this Agreement or any part of the same on the ground that the landlord has his or is Agent’s possession monies in respect of the Deposit. C.2 The Tenant shall pay to the landlord upon signing this agreement £1845.00 by way of a security deposit (“the Deposit”). C.3 The Landlord acknowledges that the deposit referred to in Clause C.2 has been paid by the Tenant to the Agent and that such deposit will be paid into a tenancy deposit scheme within the timescales laid out held and/or dealt with in accordance with the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“as provided for in the Regulations”)Housing Act 2004. No interest shall be paid by Subject thereto the Landlord shall have a right to claim against the Tenant for the Deposit.deposit for:- 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 C.3.1 Any damagedamages, or compensation for damage, to the Accommodation Premises its Fixtures and a share of any damage Fittings or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for reasonable fair wear and tear, tear and for the age and condition of each and any such item at the start commencement of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Tenancy. 6.2.2 C.3.2 The reasonable fair costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's his obligations in under this tenancy agreementAgreement, including those relating to the cleaning of the Accommodation Premises, its Fixtures and Fittings, and any additional charges made by the Common Parts and their respective ContentsAgent relating thereto or by legal advisers. 6.2.3 C.3.3 Any unpaid accounts for utilities or water charges or environmental services or other similar services or Council council Tax incurred at the Accommodation premises for which the Tenant is liable. 6.2.4 C.3.4 Any Rent, Fees rent or other money lawfully due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and Agreement which remains unpaid after the end of the tenancyTenancy. 6.2.5 Any loss arising as a result C.3.5 Details of any breach the Tenancy Deposit Scheme to which the Landlord/Agent subscribes are given in the documentation annexed hereto receipt whereof the Tenant hereby acknowledges. Further information prescribed by the Housing Act 1984 is as follows:- C.4 At the termination of the Tenancy the parties will use their best endeavours to agree what deductions should be made from the deposit and will in any event, within twenty days of the termination of the Tenancy, notify the agent of what sums/issues remain in dispute. C.5 The Landlord will as soon as reasonably practicable after such notification, refer the dispute to the administrator of the Tenancy Deposit Scheme subscribed to who will then determine matters in accordance with the provisions of that scheme. Such a referral does not prejudice the rights of the Tenant to make his own separate or additional referral following the termination of their obligations the Tenancy. 1. Definitions of Words and Phrases Used in this tenancy agreement Agreement "The Landlord(s)" will include any person who holds an entitlement to the legal ownership of the Property at the conclusion of the Tenancy which has hereby been created. "The Tenant(s)" will include all persons that have title under the tenant. "The Property" will include any or all of the Property / Premises that the tenant is entitled to use within this agreement, and any items specified in the attached inventory (including if any) and any other fixtures, furniture and effect belonging to the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations Landlords and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part boundaries of the Deposit, if any, will be refunded Property. “The Fixtures and Fittings” include reference to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at Fixtures, Fittings Furnishings or Effects, floor, ceiling and wall coverings. “The Term” or “The Tenancy” includes any extension or continuation thereof or any statutory periodic tenancy which may arise following the end of the tenancy, period of the Landlord will pay the refund Term. References to the Tenant, irrespective of who paid male gender will include the Deposit to the Landlord at the start of the tenancyfemale gender.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into (a) Upon execution of this Sublease and subject to the provisions of Section 4(c) above, Sublessee shall deposit with Sublessor the sum of Twelve Thousand Two Hundred Eighteen and 75/100 Dollars ($12,218.75), as a tenancy rental deposit scheme within for the timescales laid out in first month’s rent (the Tenancy Deposit Schemes “Rental Deposit”), and the sum of Twenty Four Thousand Four Hundred Thirty Seven and 50/100 Dollars (Scotland$24,437.50) Regulations 2011 as a security deposit for the performance by Sublessee of the provisions of this Sublease (the the RegulationsSublease Deposit”). No interest Such Sublease Deposit shall be paid by the Landlord to the Tenant considered as security for the Deposit. 6.2 The Tenant agrees payment and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end performance by Sublessee of all of Sublessee’s obligations, covenants, conditions and agreements under this tenancy agreement in respect of: 6.2.1 Any damageSublease, or compensation for damageany other obligation of Sublessee. The Sublease Deposit, to may, at Sublessor’s option, be applied toward the Accommodation and a share cost of repairing or restoring any damage or compensation for damage to the Common Parts Sublet Premises or for any other liabilities or indebtedness of Sublessee to Sublessor of any kind, and their respective Contents for which the Tenant may shall not be liable, subject applied or credited to an apportionment or allowance for fair wear and tear, the age and condition any payment of each and any such item at the start Rent in lieu of the Tenancy Period, save that the payment thereof. The Security Deposit may not be used in respect of damage or applied by insured risks and repairs that are the responsibility Sublessee as a substitute for any rent due, but may be so applied by Sublessor at any time at Sublessor’s sole option. The use, application or retention of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [Security Deposit, or any portion thereof, by Sublessor shall not prevent Sublessor from exercising any other right or remedy provided by this Sublease or by law or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent forequity, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising shall not operate as a result of limitation on any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing recovery to which Sublessor may otherwise be entitled. If Sublessor applies or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or retains any part of the Security Deposit, if anyupon written demand therefore by Sublessor, will be refunded Sublessee shall promptly deposit cash or cash equivalent with Sublessor in such amount so that Sublessor shall have the full deposit on hand at all times during the Term. (b) If Sublessee is not in default at the expiration or termination of this Sublease, and has paid in full all obligations of any kind to Sublessor, Sublessor shall return the Tenant Sublease Deposit or any balance thereof to Sublessee, within forty five (45) days after the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost expiration of the banking fee and transfer fee incurred by term hereof, or after Sublessee has vacated the Landlord. If any of the Deposit Premises, whichever is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancylater.

Appears in 1 contract

Samples: Sublease Agreement (Alliance Bankshares Corp)

Deposit. 6.1 The Deposit will be paid into a tenancy Upon signing this Lease, Tenant shall pay to Landlord the amount of the security deposit scheme within specified in Paragraph K of the timescales laid out in Summary of Lease Terms (the Tenancy Deposit Schemes (Scotland) Regulations 2011 (the RegulationsDeposit”). No interest The Deposit shall be paid held by Landlord as security for the faithful performance by Tenant of all of the provisions of this Lease to be performed or observed by Tenant. If an Event of Default by Tenant shall occur with respect to any provision of this Lease (or, if Landlord is prohibited by Applicable Laws from providing Notice to Tenant of Tenant’s failure to comply with one or more provisions of this Lease, then upon any such failure by Tenant and lapse of the specified cure period without the necessity of providing Notice to Tenant), Landlord may (but shall not be obligated to), and without prejudice to any other remedy available to Landlord, use, apply or retain all or any portion of the Deposit for the payment of any Rental in default or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby, including, without limitation, prospective damages and damages recoverable pursuant to California Civil Code Section 1951.2. If Landlord uses or applies all or any portion of the Deposit as provided above, Tenant shall within ten (10) days after demand therefor deposit cash with Landlord in an amount sufficient to restore the Deposit to the Tenant for the Deposit. 6.2 The Tenant agrees full amount thereof, and acknowledges that the Tenant’s failure to do so shall, at Landlord’s option, be an Event of Default (as defined in Paragraph 18.1) under this Lease. Landlord will shall not be entitled required to retain sums from keep the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damageseparate from its general accounts. The Deposit, or compensation so much thereof as has not previously been applied by Landlord, shall be returned, without payment of interest or other increment for damageits use, to Tenant (or, at Landlord’s option, to the Accommodation and a share last assignee, if any, of any damage or compensation for damage to Tenant’s interest hereunder) within thirty (30) days following the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start later of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility expiration of the Landlord (save to the extent that the insurance has been invalidated due to the acts Lease Term or Tenant’s vacation and surrender of the Premises. Tenant [or in respect waives the provisions of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent forCalifornia Civil Code Section 1950.7, or for rectifying any similar or remedyingsuccessor laws now or hereinafter in effect, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities that restrict Landlord’s use or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part application of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost that provide specific time periods for return of the banking fee and transfer fee incurred by the Deposit. Landlord. If any ’s return of the Deposit or any part thereof shall not be construed as an admission that Tenant has performed all of its obligations under this Lease. No trust relationship is due to be returned at the end of the tenancy, the created herein between Landlord will pay the refund and Tenant with respect to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyDeposit.

Appears in 1 contract

Samples: Lease Agreement (Harmonic Inc)

Deposit. 6.1 8.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Tenant to the Landlord on the Date of Agreement and it is acknowledged by the Tenant that the Deposit is held by the Landlord as security for the Tenant’s performance of its obligations and the conditions of this Agreement AND the Tenant further acknowledges and authorises the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums make deductions from the Deposit at if: (a) any sum is owed or becomes owing to the end Landlord by the Tenant and is not paid within five days of the date upon which it is due; or (b) on the date that the Tenant vacates the Premises there is a breach of any of the Tenant’s obligations or the conditions of this tenancy agreement in respect of:Agreement; or 6.2.1 Any damage, (c) the Premises or compensation for damage, to any of the Accommodation Landlord’s Fixtures and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which Fittings have been damaged by the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start member of the Tenancy PeriodTenant’s household or any lawful visitor, save that invitee or licensee of the Deposit may not be used Tenant and require repair and/or replacement; or (d) the Landlord incurs any cost in respect of damage by insured risks and repairs repairing or paying for items that are properly the responsibility of the Landlord (save Tenant. 8.2 The balance of the Deposit less any deductions made pursuant to clauses 8.1 above shall be returned to the extent Tenant either:- (a) within 31 calendar days of the termination of the Tenancy; or (b) upon completion of any works of repair or restoration by the Landlord to remedy any breach of the Tenant’s obligations or the conditions of this Agreement 8.3 If the Landlord becomes entitled to and subsequently offsets any sum owing to it during the Term, the Tenant will immediately repay such sum to the Landlord so that at all times the insurance has been invalidated sum on deposit with the Landlord is a sum equal to the Deposit OR if at the expiration or earlier termination of the Term the Deposit shall not be sufficient to discharge the Tenant’s liabilities to the Landlord, then any excess shall be due as an immediate debt due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contentswhich is payable forthwith upon demand. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Within ten (10) days after mutual execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in sum of Two Hundred Fifty-Nine Thousand Ninety-Seven and No/100 Dollars ($259,097.00), which sum (the Tenancy Deposit Schemes (Scotland“Security Deposit”) Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant’s failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord’s general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord’s option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant’s interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Property. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations Landlord’s interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Lease Agreement (Exelixis Inc)

Deposit. 6.1 The Concurrent with Tenant sending Tenant’s First Offer Acceptance or Tenant’s Purchase Option Notice, Tenant shall pay to Landlord a cash deposit of three percent (3%) of the applicable purchase price (the “Deposit”) in lawful money of the United States, which Deposit shall be applicable to the Purchase Price, but shall be non-refundable except as hereinafter expressly provided to the contrary in this Addendum. If the close of escrow does not occur due to a default or breach by Landlord, Tenant may, at Tenant’s sole and exclusive remedy, either (i) seek specific performance of the provisions of this Addendum, or (ii) elect not to acquire the Project and receive a refund of the Deposit from Landlord. If the close of escrow does not occur due to a default or breach by Tenant, the Deposit shall be retained by Landlord as liquidated damages, Tenant’s First Offer to Purchase under Section 1 and Purchase Option under Section 2 will be paid into a tenancy deposit scheme within of no further force or effect, but the timescales laid out Lease shall remain in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableeffect, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start Tenant complying with all other provisions of the Tenancy PeriodLease. TENANT AND LANDLORD AGREE THAT IT WOULD BE IMPRACTICAL OR EXTREMELY DIFFICULT TO FIX THE ACTUAL DAMAGES SUFFERED BY LANDLORD BECAUSE OF SUCH FAILURE OF TENANT TO COMPLETE THE SALE; THAT THE TOTAL AMOUNT OF THE REQUIRED DEPOSIT SHALL CONSTITUTE A REASONABLE ESTIMATE AND AGREED STIPULATION OF DAMAGES IN THE EVENT OF SUCH DEFAULT BY TENANT AND THAT LANDLORD SHALL HAVE NO OTHER RIGHT OR CAUSE OF ACTION AGAINST TENANT FOR DAMAGES ARISING FROM SAID DEFAULT OR FAILURE TO CLOSE, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent forEXCEPT FOR ANY AND ALL ATTORNEYS’ FEES IN COLLECTING THE LIQUIDATED DAMAGES UNDER THIS SECTION. THE PAYMENT OF THE DEPOSIT AS LIQUIDATED DAMAGES IS NOT INTENDED AS A FORFEITURE OR PENALTY WITHIN THE MEANING OF CALIFORNIA CIVIL CODE SECTIONS 3275 OR 3369, or for rectifying or remedyingBUT IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO LANDLORD PURSUANT TO CALIFORNIA CIVIL CODE SECTIONS 1671, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations1676 AND 1677. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.TENANT’S INITIALS LANDLORD’S INITIALS

Appears in 1 contract

Samples: Lease Agreement (Electroglas Inc)

Deposit. 6.1 The Deposit will Lessor confirms and acknowledges receipt of the sum of FOUR THOUSAND SEVEN HUNDRED EIGHTY DOLLARS and TEN CENTS ($4,780.10), which represents the Basic Rent, the estimated Additional Rent and G.S.T. of TWO THOUSAND ONE HUNDRED TWENTY-FOUR DOLLARS and FORTY-NINE CENTS ($2,124.49) for the month of April 1996, with the balance of TWO THOUSAND SIX HUNDRED FIFTY-FIVE DOLLARS and SIXTY-ONE CENTS ($2,655.61) to be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid held by the Landlord to Lessor as a non-interest bearing security deposit and, provided the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of Lessee does not breach its obligations under this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damageLease, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within Lessee after termination of this Lease. The said deposit shall be used to secure the timescales prompt and proper performance of the Lessee's obligations under this Lease. In the event that the Lessee defaults under the terms hereof, the Lessor may terminate this agreement and retain the above deposits on account of damages and not as laid out a penalty, without prejudice to any other remedy. THAT THE SAID LESSEE FURTHER COVENANTS WITH THE SAID LESSOR: To pay as Additional Rent on or before the first day of July each year any taxes levied specifically on the machinery, equipment or fixture owned by the said Lessee. AND to pay as Additional Rent upon notice from the Lessor, TEN PERCENT (10%) of the property tax and the insurance premium and common operating costs of the entire building and property, including, inter alia, water and sewer, common area lighting, repairs and maintenance, landscaping, external janitorial services and management fee. The Lessee shall pay the above costs and expenses as Additional Rent to the Lessor by monthly instalments in advance in an amount to be determined by the Lessor from time to time. AND shall be responsible for its own insurance including plate glass and tenants' liability, heat and light, and the maintenance and repairs of the heating, electrical and plumbing systems inside the demised premises. AND shall pay to the Lessor an administrative charge equal to ONE-HALF (1/2) of one (1) month's Basic Rent and the applicable G.S.T. per occasion upon any assignment of this Lease or subletting of the demised premises. The Lessee shall provide to the Lessor full financial background and such other information regarding future sub-lessee or assignee that the Lessor may reasonably require for proper evaluation of such sub-lessee or assignee. AND shall take the Premises "as is", and shall be responsible for all costs of improvement and alteration of the demised premises and for obtaining various permits required by the City of Vancouver and other authorities. All such works must first be approved by the Lessor in writing, such approval not to be unreasonably withheld. AND that it and its servants, employees and agents shall observe faithfully, and comply strictly with such reasonable rules and regulations as the Lessor may from time to time adopt with respect to the operation of the Lessor's Property. AND IT IS HEREBY FURTHER AGREED: THAT during the optional lease renewal period, in the Regulationsevent the Lessor shall proceed to redevelop the property or to renovate the building of which the demised premises form a part, the Lessor shall have the option to terminate this Lease with SIX (6) months' written notice to the Lessee. Where THAT THE SAID LESSOR COVENANTS WITH THE SAID LESSEE: If the Tenant requests Lessee duly and regularly pays the Landlord said rent and performs all and every one of the covenants, provisos and agreements herein contained and on the part of the Lessee to send be paid and performed, the Deposit Lessor will, upon the request in writing of the Lessee at least SIX (or 6) months prior to the balance expiry of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover this Lease, and at the cost of the banking Lessee, grant to the Lessee a renewal lease for the said premises for a further THREE (3) YEAR TERM FROM January 1, 1999 to December 31, 2001, and such renewal lease shall contain all the covenants, provisos and agreements, including the Guarantor's Covenants, as contained in the present lease except the rent, Tenant's fixturing period, rent-free period and the right of subsequent renewal. The rental rates for the renewal term shall be negotiable at market rate, but in no event shall the monthly Basic Rent during the renewal term be less than the monthly Basic Rent payable immediately preceding the commencement of the renewal term. In the event the Lessor and the Lessee are unable to agree to the rents for the renewal term FOUR (4) months prior to the expiry of this Lease term, the rents shall be then determined by arbitration under the Commercial Arbitration Act of British Columbia. It is expressly agreed that the Lessor and the Lessee shall pay its own costs of the said arbitration proceedings except for the arbitrator's fee and transfer fee incurred by which shall be paid equally between the Landlordparties. If any the Lessee shall refuse to submit to arbitration, or if the Lessee shall neglect or refuse to name its arbitrator or if the rents are not determined by arbitration on or before the expiry date of this Lease term, then the Deposit is due option to renew shall be returned at void and the end renewal term shall be cancelled, and the Lease shall terminate on the expiry date of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancythis Lease term. AND shall be responsible for structural repairs.

Appears in 1 contract

Samples: Lease Renewal and Modification Agreement (Cypost Corp)

Deposit. 6.1 The Deposit SEE ADDENDUM Upon execution of this Lease, Tenant will deposit No. 16.(A.) with Landlord the sum of __________________ Dollars as security for the full and faithful performance of every provision of this Lease to be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”)performed by Tenant. No interest shall be paid by the Landlord If Tenant defaults with respect to any provision of this Lease, including but not limited to the Tenant provisions relating to the payment of rent, Landlord may use, apply or retain all or any part of this security deposit for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share payment of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each rent and any such item at the start of the Tenancy Period, save that the Deposit may not be used other sum in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent fordefault, or for rectifying the payment of any other amount which Landlord may spend or remedyingbecome obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of said deposit is to be used or applied, any major Tenant shall within ten (10) days after written demand therefor deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a SEE ADDENDUM material breach by of this Lease. Landlord shall* be required to No. 16.(B.) keep the security deposit separate from its general funds and the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct interest on such deposit.* If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or at Landlord's option to the last assignee of Tenant's interest hereunder) at the expiration of the Term and upon Tenant's vacating of the Premises. After the Tenant improvements have been completed and the free rental period expired, the sum of £20 from the Deposit to cover the cost $24,115.00 of the banking fee and transfer fee incurred by security deposit will be applied to the Landlord. If any first month's rent leaving the sum of __________ as the Deposit is due security deposit to be returned at SEE ADDENDUM deposited in accordance with the end terms and conditions of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancythis No. 16.(A.) provision.

Appears in 1 contract

Samples: Lease (United Natural Foods Inc)

Deposit. 6.1 The Deposit will be paid into a tenancy (a) Within fourteen days (14) days after Xxxxxx’s execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in security deposit set forth on the Tenancy Deposit Schemes (Scotland) Regulations 2011 Data Sheet (“the RegulationsDeposit”). No interest In addition to all of Landlord’s rights and remedies for Tenant’s failure to provide the Deposit as required, in no event will Tenant be permitted to commence Tenant’s Work in the Premises until the Deposit is received, even if the Delivery Date has occurred. Landlord shall be paid by retain the Landlord to Deposit throughout the Tenant Term as security for the Deposit. 6.2 The faithful performance by Tenant agrees of all of the terms, covenants and acknowledges that the conditions of this Lease. If Tenant defaults with respect to any provision of this Lease, Landlord will be entitled to retain sums from may, at its discretion, use all or any part of the Deposit at for the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share payment of any damage Rental or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used other sum in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent fordefault, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result payment of any breach loss or damage which Landlord may suffer by reason of Tenant’s default, or to compensate Landlord for any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default. If Tenant fails to deliver the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part Deposit, Landlord may at any time thereafter, until Xxxxxx’s delivery of the Deposit, elect to (i) terminate this Lease, upon ten (10) days prior written notice, in which case, unless Tenant delivers the Deposit to Landlord within such ten (10) day period, this Lease shall terminate or, (ii) deduct the amount of Deposit from any Allowance owed to Tenant, or (iii) pursue any other remedies available to Landlord under this Lease or at law or equity. (b) In the event that Landlord regains possession of the Premises, because of Xxxxxx’s default, Landlord may apply the Deposit to all damages suffered through the date of said repossession and may retain the Deposit to apply to damages which may accrue thereafter. In the event any bankruptcy, insolvency, reorganization or other creditor-debtor proceedings shall be instituted by or against Tenant, or its successors or assigns, or any guarantor of Tenant hereunder, the Deposit shall be deemed to be applied first to the payment of any Rental and/or other charges due Landlord for all periods prior to the institution of such proceedings, and the balance, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send of the Deposit may be retained by Landlord in partial liquidation of Landlord’s damages. ROS/Impossible Kicks 25 Form Rev. [02/2023] (or c) The Deposit shall not constitute a trust fund. Landlord may commingle the balance of it) to an overseas bank account the Landlord Deposit with its own funds. Tenant shall not be entitled to deduct interest on the sum of £20 from Deposit. In the event Landlord applies the Deposit in whole or in part, Tenant shall, within five (5) days after written demand by Landlord, deposit sufficient funds to cover replenish the cost Deposit in the initial amount. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Deposit or any balance thereof, less any sums then due Landlord from Tenant under this Lease, shall be returned to Tenant (or, at Landlord’s option to the last assignee of Tenant’s interest thereunder) within thirty (30) days after the later of the banking fee and transfer fee incurred by Expiration Date or Xxxxxx’s vacating the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyPremises.

Appears in 1 contract

Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant's execution of this Lease, Tenant ------- shall deposit scheme within with Landlord the timescales laid out in sum of One Hundred Nineteen Thousand Two Hundred Forty and No/100 Dollars ($119,240.00), which sum (the Tenancy Deposit Schemes (Scotland"Security Deposit") Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant's failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord's option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant's interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Property. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the TenantLandlord's obligations interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Section to Landlord's and Agent's proper and reasonable costs successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Build to Suit Lease (Tularik Inc)

Deposit. 6.1 1.8.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest sum of DEPOSIT AMOUNT shall be paid by the Landlord Tenant to Digs Swansea Lettings LLP 1.8.2 Digs Swansea Lettings LLP, a member of Tenancy Deposit Scheme, will protect the Deposit within 30 days of the commencement of the Tenancy or receipt of the Deposit, whichever is earlier, and details of the scheme applicable to the registration of the Deposit together with the Prescribed Information will be provided to the Tenant and any Relevant Person. 1.8.3 Any interest earned on the holding of the Deposit will belong to Digs Swansea Lettings LLP. 1.8.4 The deposit has been taken for the Deposit.following purposes; 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 1.8.4.1 Any damage, or compensation for damage, to the Accommodation premises its fixtures and a share of any damage fittings or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start commencement of the Tenancy Periodtenancy, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])landlord. 6.2.2 1.8.4.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's ’s obligations in this under the tenancy agreement, including those relating to the cleaning of the Accommodation premises, its fixtures and the Common Parts and their respective Contentsfittings. 6.2.3 1.8.4.3 Any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Property for which the Tenant is liable. 6.2.4 1.8.4.4 Any Rent, Fees rent or other money due or payable by the Tenant under this the tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising 1.8.4.5 The Deposit is held as a result security for the performance of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's ’s obligations and the costs of instructing advisers)under 6.3 1.8.5 Subject to Clauses 6.1 or 6.2 the scheme rules of Tenancy Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned Scheme at the end of the tenancy, the Landlord tenancy any undisputed deposit amount will pay the refund be paid to the Tenant, irrespective tenant within 10 calendar days of who paid a request being made by the Deposit tenant for the return of the deposit. For the tenant to request return of the deposit the following must have been completed: 1.8.5.1 Possession of the Property has been returned to the Landlord and 1.8.5.2 All keys have been returned to the Landlord and 1.8.5.3 Both parties have confirmed their acceptance of any Deposit Deductions 1.8.6 The Deposit is not transferable by the Tenant in any way. 1.8.7 The deposit will be protected by Tenancy Deposit Scheme in accordance with the Insured Scheme Rules. Rules governing the protection of the deposit, including the repayment process can be found at xxx.xxxxxxxxxxxxxxxxxxxx.xxx. 1.8.8 In the event that the total amount lawfully due at the start end of the tenancytenancy exceeds the amount of the Deposit the Tenant shall reimburse the Landlord’s Agent the further amount, within 14 days of the request being made. 1.8.9 The Deposit will be refunded, less any deductions, to any one of the parties forming the Tenant and this will be considered a full refund. It will then be up to the parties forming the Tenant to decide how it will be divided amongst themselves.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit A returnable deposit will be paid into payable before signing this Tenancy Agreement. Deductions will be made for breach of terms of agreement such as: - Rent due. Damage to the property, fixtures and fittings. Any reasonable cost incurred to the landlord directly arising from breach of a tenancy contract term. The Landlord/s will protect the deposit through the following scheme Choose an item. The Landlord(s) will protect the deposit within the timescales laid out next 30 days, after which the scheme will be able to confirm with the tenant/s that the deposit has been protected. At the end of the tenancy the deposit (or part of the deposit) will be returned to the tenant/s after: In the case of the custodial scheme being used, within 10 days of the custodial scheme being notified of the agreement between the landlord and tenant or the ADR/ court decision. In the case either of the insurance based schemes being used, within 10 days of the tenant requesting that the landlord return their deposit. Or in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid case of a dispute 10 days after being notified of a decision by the Landlord scheme’s ADR. At the end of the tenancy if there is a dispute between the Landlord(s) and Tenant(s) about any part of the deposit being retained due to breach of tenancy terms, the Tenant for Alternative Dispute Resolution (ADR) service of the Deposit. 6.2 The Tenant agrees and acknowledges scheme used will be contacted to help reach a resolution. At the end of the fixed term the tenant can leave the tenancy. It is recommended that the Landlord will be entitled tenant provides one months’ notice of their intention to retain sums from leave the Deposit property at the end of the fixed term. If this tenancy agreement becomes periodic the tenant will give the landlord one months’ notice of their intention to leave the property. The Tenant(s) agree to permit the Landlord(s) or their agent upon giving reasonable notice to enter the property at reasonable times by prior appointment to show the property to prospective tenants and/ or buyers. The Tenant(s) must clear out all your belongings, leaving the furniture and fittings in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item same state as they were at the start of the Tenancy Period, save that tenancy subject to reasonable wear and tear. The Tenant(s) must return the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save keys to the extent that landlord on the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end last day of the tenancy. 6.2.5 Any loss arising as a result of . The Tenant(s) must ensure that you have made arrangements to clear out any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing household waste or attempting rubbish via correct means prior to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part final inspection of the Deposit, if any, will be refunded property. The landlord retains the right to withhold the Tenant within the timescales as laid out deposit until satisfied that any items of rubbish or waste have been removed and disposed of in the Regulationscorrect fashion. Where The Tenant(s) must provide the Tenant requests the Landlord to send the Deposit (or the balance of itLandlord(s) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned with a forwarding address at the end of the tenancy, Tenancy. The Landlord(s) must give the Landlord will pay Tenant(s) possession of the refund to the Tenant, irrespective of who paid the Deposit to the Landlord Property at the start of the tenancyTenancy. The Landlord(s) hereby warrants that they are legally entitled to grant the tenancy and has obtained any consent required from a mortgagee or superior landlord or any other interested party. The Landlord(s) agrees that they will protect any deposit paid by the tenant/s through one of the three authorised schemes within 30 days of receiving the deposit and provide the tenant with the prescribed information. Where either of the insurance-based schemes is used, if there is a dispute about part of the deposit the landlord will return any part of the deposit not in dispute to the tenant within 10 days and forward the disputed amount to the ADR of the scheme used to protect the deposit. The Landlord(s) will not interfere with the tenants peaceful and quiet enjoyment of the property. This agreement takes effect subject to the provisions of Section 11 of the Landlord & Tenant Act 1985 where it sets out which repairs the Landlord(s) is responsible for. The Landlord(s) will: keep in repair the structure and exterior of the Property (including drains, external pipes, gutters and external windows); keep in repair and proper working order the installations in the Property for the supply of water, gas and electricity and for sanitation (including basins, sinks, baths and sanitary conveniences, but not other fixtures, fittings and appliances for making use of the supply of water, gas or electricity); and keep in repair and proper working order the installations in the Property for space heating and heating water. In accordance with section 11 of the Landlord and Tenant Act 1985, the Landlord is not required: to repair anything which the Tenant(s) is liable to repair by virtue of the Tenant’s duty to take reasonable care of the Property; to rebuild or reinstate the Property in the case of destruction or damage by fire, storm or flood; or to keep in repair or maintain anything which the Tenant is entitled to remove from the Property. The Landlord(s) will return any rent paid for a period that the property is uninhabitable by fire. If there is a dispute about this then it will be settled by arbitration.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 Tenant has deposited with Landlord a Security Deposit as set forth in Item 15 of the Basic Lease Provisions, as security for the full and faithful performance of Tenant’s obligations under this Lease. The parties agree that Landlord holds such deposit as a creditor of Tenant and not as Tenant’s trustee and that, unless otherwise required by law, Landlord shall not be required to keep said Security Deposit will separate from its general funds, nor pay any interest thereon to Tenant. Such Security Deposit shall not be paid into construed as an advance Rent payment or as a tenancy deposit scheme within the timescales laid out measure of Landlord’s damages in the Tenancy event of a Default by Tenant. If Tenant should be placed in Default with respect to any provision of this Lease, Landlord may apply all or a portion of said Security Deposit Schemes for the payment of any sum in Default or for the payment of any amount which Landlord expends by reason of such Default. If any portion of said Security Deposit is so applied, Tenant shall deposit with Landlord, within five (Scotland5) Regulations 2011 days after receipt of Landlord’s written demand, an amount sufficient to restore said Security Deposit to its original amount. Upon the expiration of this Lease, Landlord shall return said Security Deposit to Tenant, provided Tenant has paid to Landlord all sums owing to Landlord under this Lease, and Tenant has returned the Premises to Landlord in as good order and satisfactory condition as when Tenant took possession. - 19 - Notwithstanding anything contained herein to the contrary, the Security Deposit under the Lease shall be $439,540.23, which such amount constitutes $12,577.00 in the form of a cash security deposit (“Cash Security Deposit”) and $426,963.23 in the Regulationsform of an unconditional, irrevocable letter of credit from a bank reasonably acceptable to Landlord and in substantially similar form as shown in Exhibit H attached hereto (“Letter of Credit”). No interest The Letter of Credit shall be paid by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges either provide that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may it does not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after expire until the end of the tenancy. 6.2.5 Any loss arising Lease Term or, if it is for less than the full term of the Lease, shall be renewed by Tenant at least 60 days prior to its expiration during the Term of the Lease. The Letter of Credit shall provide that it may be drawn down upon by Landlord at any time Landlord delivers its site draft to the bank. If Landlord sells or conveys the Premises, Tenant shall, at Landlord’s request, cooperate in having the Letter of Credit transferred to the purchaser and Landlord agrees to notify Tenant in writing in the event of such transfer. If the Letter of Credit is ever drawn upon by Landlord pursuant to the terms of the Lease, Tenant shall within ten (10) days thereafter cause the Letter of Credit to be restored to the then existing amount at the time of the draw down. Further, in the event Tenant fails to renew the Letter of Credit in accordance with the terms and conditions as a result of any breach by the Tenant of their obligations set forth in this tenancy agreement (including Amendment, or in the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part event that Tenant shall commence any proceeding for relief, as defined in Paragraph 23(ii) of the DepositLease, if anyan immediate Default shall be deemed to have occurred, will be refunded without the requirement of notice or opportunity to cure, in which case Landlord may immediately draw down on the Letter of Credit. Notwithstanding the foregoing, provided that as of the first day of the 61st month of the Initial Term, no Default by Tenant within has existed, exists, or would exist but for the timescales as laid out passage of time or the giving of notice, or both; then the Letter of Credit shall terminate on the first day of the 61st calendar month following the Commencement Date. It is the express intent of the parties that the Cash Security Deposit shall not decrease or terminate, but shall remain in the Regulations. Where amount as set forth above throughout the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyentire Lease Term.

Appears in 1 contract

Samples: Lease Agreement

Deposit. 6.1 The Deposit It is agreed that, concurrently with the execution of this Lease, Tenant has deposited with Landlord and will keep on deposit at all times during the term of this Lease, the Security Deposit, the receipt of which is hereby acknowledged, as security for the payment by Tenant of all rent and other amounts herein agreed to be paid into a tenancy deposit scheme within and for the timescales laid out faithful performance of all the terms, conditions, and covenants of this Lease. If, at any time during the term of this Lease, Tenant shall be in default in the Tenancy Deposit Schemes performance of any provision of this Lease, Landlord shall have the right to use said deposit, or so much thereof as necessary, in payment of any rent or other amount in default as aforesaid, in reimbursement of any expense incurred by Landlord, and in payment of any damages incurred by Landlord by reason of Tenant's default. In such event, Tenant shall, on written demand of Landlord, forthwith remit to Landlord a sufficient amount in cash to restore said deposit to an amount equal to: (Scotlandi) Regulations 2011 the Base Rent if Tenant's default occurs thereafter, plus the monthly amount of Tenant's Pro Rata Share of increases in Operating Expenses then payable by Tenant pursuant to Paragraph 5.B hereof, times (ii) the Regulations”). No interest shall be paid number of months' worth of Base Rent represented by the Landlord to initial deposit. In the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damageevent said deposit has not been utilized as aforesaid, said deposit, or compensation as much thereof as has not been utilized for damagesuch purposes, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will shall be refunded to Tenant or to whomever is then the Tenant holder of Tenant's interest in this Lease, without interest, sixty (60) days after full performance of this Lease by Tenant. Landlord shall have the right to commingle said deposit with other funds of Landlord. At Landlord's election, Landlord may elect to have the Security Deposit held by Landlord's manager in a separate security deposit trust, trustee or escrow account established and maintained by such manager with respect to certain security deposits of tenants within the timescales Building. Unless Tenant is so notified, (i) Landlord will hold the Security Deposit and be responsible for its return; (ii) Tenant may request return of the Security Deposit by giving Landlord written notice in accordance with the provisions of the Lease, addressed to Landlord as laid out provided in this Lease; and (iii) Landlord's manager, if there is one, agrees that in the Regulationsevent of a dispute over the ownership of the Security Deposit, the manager will not wrongfully withhold Landlord's true name and current mailing address from Tenant. Where Landlord may deliver the funds deposited herein by Tenant requests to the purchaser of Landlord's interest in the Premises in the event such interest be sold and, thereupon, Landlord shall be discharged from further liability with respect to send such deposit. Tenant agrees that if a Mortgagee (as defined in Paragraph 21) succeeds to Landlord's interest in the Deposit (Premises by reason of foreclosure or deed in lieu of foreclosure, Tenant shall have no claim against said Mortgagee for the Security Deposit, or any portion thereof, unless such Mortgagee has actually received the same from Landlord. If claims of Landlord exceed said deposit, Tenant shall remain liable for the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancysuch claims.

Appears in 1 contract

Samples: Office Building Lease (Front Range Capital Corp)

Deposit. 6.1 a. If not paid prior to the date hereof the Tenant agrees to pay the Deposit to the Landlord on the date of this agreement. b. The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest Landlord shall be paid by the Landlord entitled at any time to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums deduct from the Deposit at such proportion (up to 100%) of the end Deposit as may be reasonably necessary to rectify any breaches by the Tenant of the terms of this tenancy agreement in respect ofagreement, including but not limited to the following: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of i. making good any damage or compensation for damage to the Common Parts and their respective Property or the Contents for which the Tenant may be liable, subject to an apportionment or allowance (except for fair wear and tear, the age and condition of each and ); ii. replacing any such item at the start of the Tenancy Period, save that Contents which may be missing from the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [Property or in respect of damaged beyond repair; iii. paying any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees outstanding Rent or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end date on which this payment was due; iv. paying for the Property and the Contents to be cleaned (if the Tenant is in breach of his/her obligations under this agreement); v. paying any unpaid charges for any utilities, water charges or council tax incurred at the tenancy.Property for which the Tenant is liable; and 6.2.5 Any loss arising vi. paying any legal or professional fees incurred by the Landlord as a result of any breach breaches by the Tenant of their obligations in the terms of this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations on a full indemnity basis, and the costs Landlord will notify the Tenant as soon as practicable of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 any such deduction made before the Deposit or part end of the Deposit, if any, will Term whereupon the Tenant shall be refunded obliged to pay to the Tenant within Landlord an amount equal to such deduction to replenish the timescales as laid out in the Regulations. Where Deposit. c. If the Tenant requests fails to vacate the Landlord to send Property at the Deposit end of the Term (or the balance as required by clause 13.c of itthis agreement) to an overseas bank account then the Landlord shall be entitled to deduct the sum of £20 from the Deposit such proportion (up to cover 100%) of the Deposit as may be reasonably necessary to pay any of the following: a) the cost of unpaid charges for council tax or any utilities, water charges or other similar services incurred at the banking fee and transfer fee Property in relation to the period after the Term but whilst the Tenant remained in occupation and b) an amount equal to the amount of rent which the Landlord could have charged if the Property had been let to another tenant from the day after the end of the Term onwards, calculated on a daily rate until the Tenant vacates the Property; and c) any legal or professional fees incurred by the Landlord. If Landlord in seeking possession of the Property on a full indemnity basis, including (without limitation) any court fees, bailiffs’ fees or solicitors’ fees. d. The balance (if any) of the Deposit is due to be returned remaining at the end of the tenancyTerm after deductions pursuant to clause 7.b above shall be refunded to the Tenant not later than four weeks after the end of the Term, except where either:- i. the Tenant has failed to vacate the Property at the end of the Term as required by clause 13, in which case the balance of the Deposit (if any) will be refunded to the Tenant not later than four weeks after the Tenant fully vacates the Property and complies with the Tenant’s obligations under clause 13.d; or ii. the Landlord and Tenant enter into a surrender agreement in relation to this agreement, in which case the Landlord will pay comply with the terms of that surrender agreement regarding the refund of the balance (if any) of the Deposit. e. The Tenant agrees that no interest is payable in regard to the Deposit, or any balance remaining after deductions. f. The Tenant agrees and acknowledges that the Rent must be paid in accordance with clause 6 of this agreement and the Tenant cannot require the Landlord to use the Deposit in lieu of any payment of Rent. g. The Landlord shall be entitled to refund any balance of the Deposit either equally to both parties forming the Tenant, irrespective or to one of who paid the Deposit parties forming the Tenant at its discretion. It will then be up to the Landlord at parties forming the start Tenant to decide how it will be divided amongst themselves8. h. The Deposit is held pursuant to the Universities UK Code of Practice for the tenancy.Management of Student Housing (sometimes known as the ‘Accommodation Code of Practice’, or the ‘Student Accommodation Code’) a copy of which is available on the Universities UK website. 8 This only applies where there are two joint tenants

Appears in 1 contract

Samples: Tenancy Agreement

Deposit. 6.1 7.1 The Lessee shall be obliged to pay to theAgent, upon signature of this Lease by both parties, the Deposit. This payment shall be made together with the payment referred to in clause6.1 above. 7.2 The Agent shall forthwith invest the Deposit will in an interest bearing account with a recognised financial institution at the interest rate applicable to such account from time to time, which interest rate shall not be paid into less than the rate applicable to a tenancy deposit scheme within savings account at the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No financial institution and which interest shall be paid by the Landlord to the Tenant for the Depositbenefit of the Lessee. 6.2 7.3 The Tenant agrees Agent shall upon request from the Lessee provide such information about the Deposit and acknowledges that interest thereon which the Landlord will Lessee may require. 7.4 The Agent (acting on the Landlord’s instruction) shall be entitled to retain sums from apply the whole or any portion of such Deposit plus accrued interest thereon towards payment of any amount whatsoever for which the Lessee is liable in terms hereof. 7.5 If the whole or any portion of such Deposit is so applied, the Agent shall be entitled to give written notice to the Lessee demanding that he/she reinstate the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share full amount, which the Lessee will immediately do. 7.6 If upon the termination of any damage or compensation for the Lease there is no damage to the Common Parts Premises and their respective Contents no monies owing to the Landlord by the Lessee, the full Deposit and interest shall be repaid to the Lessee within 14 Business Days of termination of the Lease. 7.7 If upon the termination of the Lease there is damage to the Premises for which the Tenant may be Lessee is liable, subject and the Lessee has failed to an apportionment or allowance for fair wear and tearrepair such damage at his own expense, and/or there are monies owing to the age and condition of each and any such item at Landlord by the start Lessee, then the balance of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Depositinterest, if any, will shall be refunded to the Tenant Lessee within 14 Business Days after the timescales as laid out restoration of the Premises and payment of all outstanding amounts due by the Lessee in the Regulations. Where the Tenant requests the Landlord terms hereof. 7.8 Receipts and details of all costs applied to send the Deposit (or the balance of it) to an overseas bank account by the Landlord shall be entitled available to deduct the sum of £20 from Lessee for inspection at the Deposit to cover the cost offices of the banking fee and transfer fee incurred by Agent. 7.9 The Lessee shall immediately increase the Landlord. If any amount of the Deposit held in terms hereof in the event of an escalation in the Rental, such that the Deposit shall always be an amount equivalent to 2 (two) months Rental. 7.10 The Deposit is due not to be returned at construed by the end Lessee as a limit of his liability in terms of the tenancy, Lease. 7.11 The Deposit may under no circumstances be used by the Landlord will pay the refund Lessee to the Tenant, irrespective of who paid the Deposit to the Landlord at the start offset any rental due in respect of the tenancyLease.

Appears in 1 contract

Samples: Lease Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Tenant shall on or before the execution of this Agreement deposit scheme within with the timescales laid out Landlord the sum of $55,613.26 in the Tenancy Deposit Schemes cash, representing six (Scotland6) Regulations 2011 (“the Regulations”). No interest months’ Rents together with GST thereon, which shall be paid held by the Landlord to as a deposit (the Tenant “said deposit”) as security for the Deposit. 6.2 The Tenant agrees due observance and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach performance by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating ’s covenants and conditions herein contained. The Landlord shall as soon as reasonably possible after the end or sooner determination of the term hereby created refund to the cleaning Tenant the said deposit free of interest but subject to the Accommodation Landlord’s right of deduction for all costs, expenses and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or amounts payable by the Tenant under this tenancy agreement of which hereunder. IF the Tenant has been made aware fails to pay any costs and which remains unpaid after the end expenses as provided in this Agreement or to observe and perform any of the tenancy. 6.2.5 Any loss agreements and stipulations herein contained and on the Tenant’s part to be observed and performed it shall be lawful but not obligatory for the Landlord to apply or deduct from the said deposit such sum or sums as may be necessary to make good and satisfy such costs and expenses, and damages and losses arising as a result from the Tenant’s failure but without prejudice to the right of action of the Landlord against the Tenant in respect of any antecedent breach of any of the agreements or stipulations herein contained on the part of the Tenant to be observed and performed or any claim arising from the Tenant’s failure as aforesaid in excess of the said deposit. IF any part of the said deposit shall be applied or deducted by the Landlord as aforesaid, the Tenant shall upon demand deposit with the Landlord a cash amount so applied or deducted, AND upon adjustment or revision of the Rents for the time being payable by the Tenant of their obligations in this tenancy agreement (including to the Landlord's and Agent's proper and reasonable costs of enforcing Landlord hereunder the said deposit shall likewise be adjusted or attempting to enforce the Tenant's obligations revised and the costs of instructing advisers) 6.3 Subject Tenant shall pay on demand to Clauses 6.1 or 6.2 the Deposit or Landlord the difference thereof if there is any increase in the Rents. Any cash payment by the Tenant as a deposit shall be held by the Landlord as part of the Deposit, if any, will be refunded to said deposit. PROVIDED ALWAYS that the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account sum held by the Landlord shall be entitled maintained so as to deduct represent at all times three (3) months’ Rents together with GST thereon as aforesaid and shall not without the sum of £20 from the Deposit to cover the cost prior written consent of the banking fee and transfer fee incurred by Landlord be deemed to be or treated as payment of Rents or any part thereof or any sums owing to the Landlord. If any of AND FURTHER PROVIDED that if during the Deposit is due to be returned at the end of the tenancyterm hereby created, the Landlord will pay shall transfer, assign, dispose of or part with all its estate, title or interest in the refund Demised Premises or a part thereof to the Tenant, irrespective of who paid the Deposit Landlord’s successor-in-title subject to the term hereby created, the Tenant hereby agrees that the Landlord at may assign and transfer the start Landlord’s rights to, and obligations in respect of, the said deposit to the Landlord’s successor-in-title and thereupon the Tenant shall cease to have any right, claim or demand whatsoever against the Landlord in respect of the tenancysaid deposit.

Appears in 1 contract

Samples: Tenancy Agreement (Sirf Technology Holdings Inc)

Deposit. 6.1 (1) The Deposit will be paid into Tenant shall on or before the signing of this Agreement pay to the Landlord a tenancy deposit scheme within the timescales laid as set out in Part VI of the Tenancy Deposit Schemes First Schedule hereto to secure the due observance and performance by the Tenant of the agreements, stipulations and conditions herein contained and on the Tenant's part (Scotland) Regulations 2011 (“including the Regulations”due payment of the Rent, the Rates, the Government Rent and Service Charges). No interest In the event of any breach or non-observance or non- performance by the tenant of any of the said agreements, stipulations or conditions which are irremediable or, if remediable by the Tenant but the Tenant shall fail to remedy and rectify before the expiration of the period as shall be paid specified in the written notice given by the Landlord to the Tenant, then the Landlord shall have the right to, from time to time and at its absolute discretion and without notice to the Tenant, (i) forfeit the said deposit (including any further deposit(s) paid by the Tenant pursuant to Clause 3 of this Section ("further deposits")) absolutely as and for liquidated damages; and/or (ii) deduct from the Deposit. 6.2 said deposit and further deposits such amount of Rent in arrears as debt and/or all monetary losses and damages incurred by the Landlord in consequence of the said breach, non-observance or non- performance by the Tenant. In any event the exercise of the aforesaid right of forfeiture and deduction by the Landlord shall be without prejudice to its right to claim damages over and above the said deposit or further deposits or further damages sustained by the Landlord and to all other rights and remedies available to the Landlord hereunder or at law. The Landlord's right to forfeit the said deposit and further deposits or to make deductions from the said deposit and further deposits once exercised shall be final and binding on the Tenant agrees and acknowledges conclusively. In the event that the Landlord will be entitled to retain sums from exercising its right of forfeiture or deduction during the Deposit at the end currency of this tenancy agreement Agreement in respect of: 6.2.1 Any damageaccordance with this provision, or compensation for damage, the Tenant shall forthwith upon demand by the Landlord pay to the Accommodation and Landlord a share of any damage further deposit or compensation for damage deposits equal to the Common Parts and their respective Contents for which amount(s) so forfeited or deducted and, if the Tenant may be liableshall fail so to do, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct re-enter on the sum said premises and to determine this Agreement in which event all deposits and further deposits paid by the Tenant pursuant hereto may be forfeited to the Landlord as hereinbefore provided. For the avoidance of £20 from doubt, there shall be no limit on the Deposit to cover number of times which the cost Landlord may exercise its right of forfeiture or deduction in respect of the banking fee said deposit and transfer fee incurred by further deposits under this provision. (2) Subject as aforesaid and the foregoing provisions and without prejudice to the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit 's rights and remedies available to the Landlord at law or hereunder, a sum equivalent to the start said deposit and further deposits shall be returned to the Tenant by the Landlord without interest within one month after the expiration or the sooner determination of this Agreement and the delivery of vacant possession of the tenancysaid premises to the Landlord, or (without being construed as a waiver of the Landlord's rights under this Agreement) within one month after the settlement of the last outstanding claim which the Landlord may have against the Tenant in respect of any breach, non-observance or non-performance of or default in any of the agreements, stipulations or conditions herein contained and on the part of the Tenant, whichever shall be the later. (3) If at any time during the term of the tenancy hereby created, the Landlord shall sell or otherwise assign or transfer the said premises, the Landlord may at any time transfer to its purchaser or assignee ("the New Owner") the said deposit in (1) above and (if any) further deposits (subject to the Landlord's prior right of forfeiture and deduction) or the balance thereof (if any) in the event of the Landlord being entitled to exercise its right of deduction as aforesaid. Upon such transfer, the Landlord (which in this context shall exclude its assigns) shall be released from any liability or obligation under this Agreement to return the said sum equivalent to the said deposit in (1) above and (if any) further deposits or any balance thereof to the Tenant. The Tenant shall thereafter be entitled only to claim for the return of the said sum equivalent to the said deposit in (1) above and (if any) further deposits or the balance thereof from the New Owner.

Appears in 1 contract

Samples: Office Lease (Titanium Group LTD)

Deposit. 6.1 The (a) If the Basic Provisions indicate a Deposit, the Tenant shall pay the Deposit will be paid into a tenancy deposit scheme within the timescales laid out (in the Tenancy Deposit Schemes (Scotlandamount described in the Basic Provisions) Regulations 2011 (“the Regulations”). No interest shall be paid by to the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant within [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant *****] Business Days of the Tenant's obligations ’s and Landlord’s execution of this Lease. (b) The Landlord shall apply the Deposit in this tenancy agreement, including those relating accordance with the Basic Provisions. (c) The Landlord may also use the Deposit to secure the cleaning fulfilment of all of the Accommodation and Tenant’s Covenants (including, without limitation, the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payment of all amounts payable by the Tenant under this tenancy agreement of Lease) and all damages and losses which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising Landlord may suffer or incur as a result of this Lease being terminated by the Landlord or disclaimed in any breach bankruptcy or insolvency proceedings relating to the Tenant or any assignee of the Tenant, including, without limitation, all amounts which would have been payable under this Lease but for such termination or disclaimer. Without limiting the generality of the foregoing, the Deposit shall secure and may, at the Landlord’s option, be applied on account of any one or more of the following: (i) unpaid Rent, including, without limitation, any amount which would have become payable under this Lease to the date of the expiry of this Lease had this Lease not been terminated or disclaimed in any bankruptcy or insolvency proceedings; (ii) the prompt and complete performance of all of the Tenant’s Covenants in addition to the payment of Rent; (iii) the indemnification of the Landlord for any losses, costs or damages incurred by the Landlord arising out of any failure by the Tenant to observe and perform any of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and ’s Covenants; (iv) the costs performance of instructing advisers)any obligation which the Tenant would have been obligated to perform to the date of the expiry of this Lease had this Lease not been terminated or disclaimed in any bankruptcy or insolvency proceedings; and 6.3 Subject to Clauses 6.1 (v) the losses or 6.2 damages suffered by the Deposit Landlord as a result of the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. (d) If the Landlord uses all or part of the DepositDeposit (except in accordance with section 4.6(b)), if anythe Tenant shall, within [*****] Business Days following written demand being made by the Landlord, pay to the Landlord the amount required to reimburse it for the amount so applied by way of certified cheque or bank draft, failing which an Event of Default will be refunded deemed to have occurred. (e) Within [*****] days following the expiration of this Lease, the Landlord shall refund to the Tenant within any portion of the timescales Deposit being held as laid out in security or not used by the Regulations. Where the Tenant requests Landlord after application by the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee any damage incurred by the Landlord. If any Landlord as a result of the Tenant failing to observe and perform the Tenant’s Covenants. For certainty, the provisions of this section shall survive the expiry of this Lease. (f) The Landlord will be discharged from any liability to the Tenant with respect to the Deposit if it is due transferred to any purchaser of the Landlord’s interest in the Premises or Lease. (g) The provisions of this section shall be deemed to be returned at a separate agreement distinct and independent of this Lease and which shall survive the end termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. Accordingly, the rights of the tenancyLandlord under this section shall continue in full force and effect and shall not be waived, released, discharged, impaired or affected by reason of the termination of this Lease by the Landlord or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. (h) The Landlord will not be required to pay the refund interest to the Tenant, irrespective of who paid the Deposit to the Landlord at the start Tenant on any part of the tenancyDeposit.

Appears in 1 contract

Samples: Lease Agreement (Oxus Acquisition Corp.)

Deposit. 6.1 a. If not paid prior to the date hereof the Tenant agrees to pay the Deposit to the Landlord on the date of this agreement. b. The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest Landlord shall be paid by the Landlord entitled at any time to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums deduct from the Deposit at such proportion (up to 100%) of the end Deposit as may be reasonably necessary to rectify any breaches by the Tenant of the terms of this tenancy agreement in respect ofagreement, including but not limited to the following: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of (i) making good any damage or compensation for damage to the Common Parts and their respective Property or the Contents for which the Tenant may be liable, subject to an apportionment or allowance (except for fair wear and tear, the age and condition of each and ); (ii) replacing any such item at the start of the Tenancy Period, save that Contents which may be missing from the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord Property or damaged beyond repair; (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of iii) paying any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, outstanding Rent any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees early surrender fee or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the date on which this payment was due; (iv) paying for the Property and the Contents to be cleaned (if the Tenant is in breach of his/her obligations under this agreement); (v) removing and disposing of Tenant’s Items at the Property at the end of the tenancy.Term in accordance with clause 13.e; 6.2.5 Any loss arising (vi) paying any unpaid charges for any Utility Services, water charges or council tax incurred at the Property for which the Tenant is liable; and (vii) paying any legal or professional fees incurred by the Landlord as a result of any breach breaches by the Tenant of their obligations in the terms of this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations on a full indemnity basis; and the costs Landlord will notify the Tenant as soon as practicable of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 any such deduction made before the Deposit or part end of the Deposit, if any, will Term whereupon the Tenant shall be refunded obliged to pay to the Tenant within Landlord an amount equal to such deduction to replenish the timescales as laid out in the Regulations. Where Deposit. c. If the Tenant requests fails to vacate the Landlord to send Property at the Deposit end of the Term (or the balance as required by clause 13.c of itthis agreement) to an overseas bank account then the Landlord shall be entitled to deduct the sum of £20 from the Deposit such proportion (up to cover 100%) of the Deposit as may be reasonably necessary to pay any of the following: a) the cost of unpaid charges for council tax or Utility Services water charges or other similar services incurred at the banking fee and transfer fee Property in relation to the period after the Term but whilst the Tenant remained in occupation and b) an amount equal to the amount of rent which the Landlord could have charged if the Property had been let to another tenant from the day after the end of the Term onwards, calculated on a daily rate until the Tenant vacates the Property; and c) any legal or professional fees incurred by the Landlord. If Landlord in seeking possession of the Property on a full indemnity basis, including (without limitation) any court fees, bailiffs’ fees or solicitors’ fees. d. The balance (if any) of the Deposit is due to be returned remaining at the end of the tenancyTerm after deductions pursuant to clause 7.b above shall be refunded to the Tenant not later than four weeks after the end of the Term, except where either:- (i) the Tenant has failed to vacate the Property at the end of the Term as required by clause 13, in which case the balance of the Deposit (if any) will be refunded to the Tenant not later than four weeks after the Tenant fully vacates the Property and complies with the Tenant’s obligations under clause 13.d; or (ii) the Landlord and Tenant enter into a surrender agreement in relation to this agreement, in which case the Landlord will pay comply with the terms of that surrender agreement regarding the refund of the balance (if any) of the Deposit. e. The Tenant agrees that no interest is payable in regard to the Deposit, or any balance remaining after deductions. f. The Tenant agrees and acknowledges that the Rent must be paid in accordance with clause 6 of this agreement and the Tenant cannot require the Landlord to use the Deposit in lieu of any payment of Rent. g. The Landlord shall be entitled to refund any balance of the Deposit either equally to both parties forming the Tenant, irrespective or to one of who paid the parties forming the Tenant at its discretion. It will then be up to the parties forming the Tenant to decide how it will be divided amongst themselves10. h. In the event that the total amount lawfully due at the end of the tenancy exceeds the amount of the Deposit the Tenant shall reimburse the Landlord for the further amount within 14 days of the request being made. i. The Deposit is held pursuant to the Landlord at Universities UK Code of Practice for the start Management of Student Housing (sometimes known as the tenancy.‘Accommodation Code of Practice’, or the ‘Student Accommodation Code’) a copy of which is available on the Universities UK website. 10 This only applies where there are two joint tenants

Appears in 1 contract

Samples: Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant's execution of this Lease. Tenant shall deposit scheme within with Landlord the timescales laid out in sum of Fifty-Eight Thousand Forty-Five and No/100 Dollars ($58,045,00), which sum (the Tenancy Deposit Schemes (Scotland"Security Deposit") Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. The amount of said Security Deposit represents one month's rent, as of the Commencement Date, at a rate of $2.47 per square foot per month for an assumed size of 23,500 square feet for the Premises, as reflected in Section 3.1(a) hereof; if the size of the Premises is increased by Tenant's exercise of its expansion option under Section l.l(c) hereof, then concurrently with such exercise Tenant shall increase the amount of the Security Deposit to an amount equal to $2.47 per square foot times the increased size of the Premises as determined under Section 3.1(b) hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder. Landlord shall have the right, but shall not be required, to use. apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the full amount required hereunder and acknowledges that the Tenant's failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord's option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant's interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Premises. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the TenantLandlord's obligations interest in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Lease. Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Section to Landlord's and Agent's proper and reasonable costs successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Build to Suit Lease (Cytokinetics Inc)

Deposit. 6.1 17.1 The tenant must pay the deposit on signature of the Licence Agreement equal to 4 weeks charge. The Deposit will be returned in full but without interest after this Licence Agreement terminates less any amount deducted at the Proprietors sole discretion to cover; 17.2 any breach of condition 10.7 17.3 any Fees which have not been paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord or any unpaid removal or other charges or, 17.4 any other obligation to us that the Tenant has not performed The prompt payment of each every sum (including interest) whether invoiced or not, owing from You to Us from time to time under this Licence Agreement or any other Agreement between the Tenant and Proprietor (in this debt called “Your Debt”) is of the essence this Licence Agreement. Unless agreed otherwise, invoices will be issued approximately 14 days in advance of payment date. It is your responsibility to ensure that your payment is received by us on or before the due date. A Late charge of 10% of the storage charge or £10 (whichever is greater) will be incurred for each two week period the Depositstorage charge remains outstanding. If you remain in default of the storage charge the Proprietor may take various steps to recover the costs, and to dispose of your goods. 6.2 18.1 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end terms of this tenancy agreement conditions are additional to and without prejudice to all or any rights we may have at common law or other. 18.2 in respect of:default of prompt payment of Your Debt; 6.2.1 Any damage18.2.1 Subject to condition 21, or compensation for damageif applicable, to the Accommodation and a share we are relieved of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used duty howsoever arising in respect of damage by insured risks the Goods; and 18.2.2 the Goods are held solely at Your own risk and repairs that are we shall immediately be able to exercise the responsibility lien described below. 18.3 We have a lien over the Goods for Your Debt until the payment of the Landlord (save to the extent that the insurance You Debt in full has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach received by the Tenant of Proprietor in Cash or, if by cheque until the Tenant's obligations in cheque has been paid by your bank and after this tenancy agreementlien becomes exercisable by us, including those relating to the cleaning of following conditions shall apply; 18.4 You shall pay the Accommodation Proprietor fees and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred charges at the Accommodation for same rate as under this Licence Agreement and if this Licence Agreement has been terminated, the relevant rate at which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or such fees and charges will be payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, You will be refunded the rate which was payable immediately prior to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.termination; and

Appears in 1 contract

Samples: Licence Agreement

Deposit. 6.1 (a) Concurrently with Tenant's execution of this Lease, Tenant shall deposit with Landlord the sum of Two Million Two Hundred Seventy Thousand Four Hundred Thirty and No/100 Dollars ($2,270,430.00), which sum (the "Security Deposit" ) shall be held by Landlord as security for the faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to interest thereon. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Security Deposit, or any balance thereof, shall be returned to Tenant or, at Landlord's option, to the last assignee of Tenant's interest hereunder, at the expiration of the term of this Lease and after Tenant has vacated the Property. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord's successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of such deposit or the accounting thereof. (b) As an alternative to the cash Security Deposit described in Section 20.1(a), Tenant may instead deliver to Landlord, within ten (10) days after mutual execution of this Lease, an irrevocable standby letter of credit (the "Letter of Credit" ) issued in favor of Landlord by a federally insured commercial bank or trust company approved in writing by Landlord (which approval shall not be unreasonably withheld), in form and substance reasonably satisfactory to Landlord, to be held by Landlord as security for the faithful performance of all the obligations of Tenant under this Lease, subject to the following terms and conditions: (i) The amount of the Letter of Credit shall be at least Two Million Two Hundred Seventy Thousand Four Hundred Thirty and No/100 Dollars ($2,270,430.00), and Tenant shall maintain the Letter of Credit in that amount in full force and effect throughout the term of this Lease (including any extensions thereof) and until thirty (30) days after the expiration of the term of this Lease, unless Tenant elects at any time to replace the Letter of Credit with a full cash Security Deposit in compliance with Section 20.1(a). The Letter of Credit may be for an initial one-year term, with automatic renewal provisions, provided that Landlord shall be given at least thirty (30) days prior written notice if the Letter of Credit will not be paid into renewed as of any otherwise applicable renewal date and shall be entitled to draw against the expiring Letter of Credit if a tenancy deposit scheme within replacement Letter of Credit is not furnished to Landlord at least twenty (20) days prior to the timescales laid out scheduled expiration date, as provided in Section 20.1(b)(iii)(A) below. (ii) Landlord shall be entitled (but shall not be required) to draw against the Letter of Credit and receive and retain the proceeds thereof upon any default by Tenant in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall payment of any rent or other amounts required to be paid by Tenant under this Lease, or upon the occurrence of any other Event of Default under this Lease. The amount of the draw shall not exceed the amount of the payments (if any) as to which Tenant is then in default and/or the amount reasonably necessary to cure any non-monetary Events of Default by Tenant, and shall be applied by Landlord to the cure of the applicable default(s). Following any partial draw under this paragraph (ii), if Tenant for fully cures all outstanding defaults and provides Landlord with a new Letter of Credit in the Depositfull required amount under this Section 20.1(b), Landlord shall surrender and return to Tenant, within ten (10) days after Tenant's satisfaction of the foregoing conditions, the Letter of Credit under which the partial draw was made, and any unapplied cash drawn under such Letter of Credit. 6.2 The Tenant agrees and acknowledges that the (iii) Landlord will shall also be entitled (but shall not be required) to retain sums from draw against the Deposit at Letter of Credit in full and to receive the end entire proceeds thereof under either of the following circumstances: (A) If the Letter of Credit will expire as of a date prior to the date thirty (30) days after the expiration of the term of this tenancy agreement Lease and Tenant fails to provide to Landlord an extension or replacement of such Letter of Credit, in respect of: 6.2.1 Any damageat least the minimum amount required under this Section 20.1(b), or compensation for damage, at least twenty (20) days prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start scheduled expiration date of the Tenancy PeriodLetter of Credit; or (B) If, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of a draw against the Letter of Credit by Landlord or for any breach other reason, the amount of the Letter of Credit falls below the minimum amount required to be maintained from time to time pursuant to this Section 20.1(b) and Tenant has failed to cause the Letter of Credit to be restored to at least the minimum required amount within ten (10) days after written demand by Landlord. Landlord shall return any unapplied cash to Tenant upon receipt a new Letter of Credit in the full amount required by the Tenant terms of their obligations the Lease. (iv) If Landlord draws against the Letter of Credit in this tenancy agreement any of the circumstances described in subparagraph (including the Landlord's and Agent's proper and reasonable costs of enforcing iii) above, Landlord shall use, apply and/or retain all or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or any part of the Deposit, if any, will be refunded to amount drawn for the Tenant within the timescales as laid out in the Regulationscure of any then existing defaults under this Lease. Where the Tenant requests the Landlord to send the Deposit (Any amount drawn that is not immediately so used or the balance of it) to an overseas bank account the applied by Landlord shall be entitled retained by Landlord as a cash security deposit, subject to deduct and in accordance with the sum provisions of £20 from the Deposit to cover the cost Section 20.1(a). (v) Any actual or purported withdrawal, rescission, termination or revocation of the banking fee and transfer fee incurred Letter of Credit by the Landlord. If any issuer thereof prior to the expiration of the Deposit is due to be returned at the end term of the tenancy, the Landlord will pay the refund this Lease (except when replaced prior to the Tenanteffectiveness of such withdrawal, irrespective rescission, termination or revocation by a replacement Letter of who paid the Deposit to the Landlord at the start Credit as contemplated in Section 20.1(b)(iii)(A) hereof) shall be a material breach of the tenancythis Lease.

Appears in 1 contract

Samples: Sublease (Prothena Corp PLC)

Deposit. 6.1 (1) The Deposit will be paid into Tenant shall on or before the signing of this Agreement pay to the Landlord a tenancy deposit scheme within the timescales laid as set out in Part VI of the Tenancy Deposit Schemes First Schedule hereto to secure the due observance and performance by the Tenant of the agreements, stipulations and conditions herein contained and on the Tenant’s part (Scotland) Regulations 2011 (“including the Regulations”due payment of the Rent, the Rates and Service Charges). No interest In the event of any breach or non-observance or non-performance by the Tenant of any of the said agreements, stipulations or conditions which are irremediable or, if remediable by the Tenant but the Tenant shall fail to remedy and rectify before the expiration of the period as shall be paid specified in the written notice given by the Landlord to the Tenant, then the Landlord shall have the right to, from time to time and at its absolute discretion and without notice to the Tenant, (i) forfeit the said deposit (including any further deposit(s) paid by the Tenant pursuant to Clause 3 of this Section (“further deposits”)) absolutely as and for liquidated damages; and/or (ii) deduct from the Deposit. 6.2 said deposit and further deposits such amount of Rent in arrears as debt and/or all monetary losses and damages incurred by the Landlord in consequence of the said breach, non-observance or non-performance by the Tenant. In any event the exercise of the aforesaid right of forfeiture and deduction by the Landlord shall be without prejudice to its right to claim damages over and above the said deposit or further deposits or further damages sustained by the Landlord and to all other rights and remedies available to the Landlord hereunder or at law. The Landlord’s right to forfeit the said deposit and further deposits or to make deductions from the said deposit and further deposits once exercised shall be final and binding on the Tenant agrees and acknowledges conclusively. In the event that the Landlord will be entitled to retain sums from exercising its right of forfeiture or deduction during the Deposit at the end currency of this tenancy agreement Agreement in respect of: 6.2.1 Any damageaccordance with this provision, or compensation for damage, the Tenant shall forthwith upon demand by the Landlord pay to the Accommodation and Landlord a share of any damage further deposit or compensation for damage deposits equal to the Common Parts and their respective Contents for which amount(s) so forfeited or deducted and, if the Tenant may be liableshall fail so to do, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct re-enter on the sum said premises and to determine this Agreement in which event all deposits and further deposits paid by the Tenant pursuant hereto may be forfeited to the Landlord as hereinbefore provided. For the avoidance of £20 from doubt, there shall be no limit on the Deposit to cover number of times which the cost Landlord may exercise its right of forfeiture or deduction in respect of the banking fee said deposit and transfer fee incurred by further deposits under this provision. (2) Subject as aforesaid and the foregoing provisions and without prejudice to the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit ’s rights and remedies available to the Landlord at law or hereunder, a sum equivalent to the start said deposit and further deposits shall be returned to the Tenant by the Landlord without interest within one month after the expiration or the sooner determination of this Agreement and the delivery of vacant possession of the tenancysaid premises to the Landlord, or (without being construed as a waiver of the Landlord’s rights under this Agreement) within one month after the settlement of the last outstanding claim which the Landlord may have against the Tenant in respect of any breach, non-observance or non-performance of or default in any of the agreements, stipulations or conditions herein contained and on the part of the Tenant, whichever shall be the later. (3) The Tenant hereby agrees that in the event of there being any increase in Rent agreed determined or provided for under this Agreement or any increase in Services Charges under Part (IV) of the First Schedule then and in every such case the Tenant shall pay to the Landlord as further deposit (to be held by the Landlord under the same terms and conditions as in this Section) a sum equal to the difference between the said deposit mentioned in (1) above and three months’ Rent (as increased) and/or (as the case may be) three months’ Services Charges (as increased) such sum to be paid to the Landlord with the payment of increased Rent and Services Charges next following any such increase. (4) If at any time during the term of the tenancy hereby created, the Landlord shall sell or otherwise assign or transfer the said premises, the Landlord may at any time transfer to its purchaser or assignee (“the New Owner”) the said deposit in (1) above and (if any) further deposits (subject to the Landlord’s prior right of forfeiture and deduction) or the balance thereof (if any) in the event of the Landlord being entitled to exercise its right of deduction as aforesaid. Upon such transfer, the Landlord (which in this context shall exclude its assigns) shall be released from any liability or obligation under this Agreement to return the said sum equivalent to the said deposit in (1) above and (if any) further deposits or any balance thereof to the Tenant. The Tenant shall thereafter be entitled only to claim for the return of the said sum equivalent to the said deposit in (1) above and (if any) further deposits or the balance thereof from the New Owner.

Appears in 1 contract

Samples: Tenancy Agreement (Garden Stage LTD)

Deposit. 6.1 The Deposit will Tenant agrees to pay the Landlord a deposit of $ . It is agreed between the Tenant and the Landlord that interest on the deposit shall be compounded annually and be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for at the Deposit. 6.2 termination of the tenancy. The Tenant agrees and acknowledges Landlord may deduct from the security deposit any amounts that the Landlord will be entitled seems necessary to retain sums from the Deposit at the end of this tenancy agreement in respect ofprovide for: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of (a) repairing any damage or compensation for damage loss to the Common Parts and their respective Contents for premises (including the building of which the premises form a part and the ground of which the building forms a part), fixtures, furniture, appliances and any other items leased pursuant to the Lease which damages may have been caused by the Tenant may or any person or persons invited on the premises by the Tenant (Xxxxx and other marks on carpets, furnishings and walls shall not be liable, subject to an apportionment or allowance for fair considered normal wear and tear, ); or animal(s) or thing(s) allowed in the age and condition of each building by the Tenant. (b) cleaning the premises and any such item at property rented with it, (include but not limited to professional cleaning of carpet and drapery) if the start Tenant gives up possession of the Tenancy Period, save premises in such condition that the Deposit may not be used in respect premises require cleaning; (c) payment of damage by insured risks and repairs that are the responsibility of rent owing to the Landlord by the Tenant upon the termination of this Lease and; (save to d) the extent that the insurance has been invalidated due to the acts discharge of any other obligations or liabilities of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If The Tenant is responsible for the amount of any damages or cleaning costs in excess of the Deposit deposit. It is due to be returned at further agreed and understood that the end of Tenant cannot apply the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit security deposit against any rent owing to the Landlord at the start of during the tenancy. If the Tenant terminates this lease within three months of occupying the premises, their deposit shall be forfeited to the Landlord as liquidated damages to cover re-rental expenses and not as a penalty. If the Tenant does not give proper notice or breaks the lease term, and the Landlord is able to re-rent the premises a $200.00 re-rental fee shall be deducted from the deposit.

Appears in 1 contract

Samples: Residential Tenancy Lease Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant's execution of this Lease, ------- Tenant shall deposit scheme within with Landlord the timescales laid out in sum of Twenty Nine Thousand One Hundred Twenty Four Dollars and 90/100 ($29,124.90), which sum (the Tenancy Deposit Schemes (Scotland"Security Deposit") Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or may become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an sufficient amount to restore the Security Deposit to its original amount and acknowledges that the Tenant's failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to interest thereon. Subject to Landlord's right to use, apply or retain sums from the Security Deposit at as described above and subject to applicable law, the end of this tenancy agreement in respect of: 6.2.1 Any damageSecurity Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord's option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant's interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration or earlier termination of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Premises. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the TenantLandlord's obligations interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Section to Landlord's and Agent's proper and reasonable costs successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Lease Agreement (Documentum Inc)

Deposit. 6.1 The 3.1 On the date of the tenancy the Tenant is to pay to the Landlord the Deposit which will be paid into a tenancy deposit scheme within held by the timescales laid [Landlord]/[Landlord's Agent] upon the terms hereinafter set out in the and which shall be protected by The Tenancy Deposit Schemes (Scotland) Regulations 2011 (“Scheme in accordance with the Regulations”). No interest shall provisions of the Schedule hereto 3.2 The [Landlord]/[Landlord's Agent] must tell the Tenant within ten working days of the end of the tenancy if they propose to make a deduction from the Deposit 3.3 Before the [Landlord]/[Landlord's Agent] makes any deduction they must produce written consent to the deduction and obtain written consent to the deduction from the Tenant specifying the amount of the deduction and the agreed amount to be paid by returned to the Tenant 3.4 Subject to the provisions of clauses 3.1 and 3.9 the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit may at the end of this the tenancy agreement apply the whole or any part of the Deposit in respect ofor towards: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of (a) any damage or compensation for damage to the Common Parts Premises its fixtures and their respective Contents fittings or for missing items for which the Tenant may be liable, is liable subject to an apportionment or allowance for fair wear and tear, tear the age and condition of each and any such item at the start commencement of the Tenancy Period, save that the Deposit may not be used in respect of damage by tenancy insured risks and repairs that are the responsibility of the Landlord Landlord (save to b) the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, for or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's obligations in under clause 1 of this tenancy agreement, Agreement including those relating to the cleaning of the Accommodation premises its fixtures and the Common Parts and their respective Contents.fittings 6.2.3 Any (c) any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 Any Rent, Fees (d) any rent or other money due or payable by the Tenant under this tenancy agreement the Tenancy Agreement of which the Tenant has been made aware and which remains remain unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result 3.5 If the [Landlord]/[Landlord's Agent] does not propose to make any deductions from the Deposit the Landlord will repay the Deposit within thirty working days of the end of the tenancy 3.6 The [Landlord][Landlord's Agent] shall make the payment of any breach by amount agreed under clause 3.2 within thirty working days of the [Landlord]/[Landlord's Agent] and the Tenant agreeing the allocation of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part and for the avoidance of doubt the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord [Landlord][Landlord's Agent] shall be entitled to deduct keep the sum Deposit if this was agreed in accordance with clause 3.2 3.7 The Tenant should try to inform the [Landlord]/[Landlord's Agent] in writing if the Tenant intends to dispute any of £20 the deductions regarded by the [Landlord][Landlord's Agent] as due from the Deposit to cover within 20 working days after the cost termination or earlier ending of the banking fee tenancy and transfer fee incurred by the LandlordTenant vacating the Premises. The ICE may regard failure to comply with the time limit as a breach of the rules of The Tenancy Deposit Scheme and if the ICE is later asked to resolve any dispute may refuse to adjudicate in the matter 3.8 If after ten working days following notification of a dispute to the [Landlord]/[Landlord's Agent] and reasonable attempts having been made in that time to resolve any differences of opinion there remains an unresolved dispute between the [Landlord]/[Landlord's Agent] and the Tenant over the allocation of the Deposit is due the dispute will be submitted to be returned the ICE for adjudication. All parties to this Agreement agree to co-operate with the adjudication. There being multiple tenants each of them agrees with the other(s) that any one of them may consent on behalf of all the others to use the alternative dispute resolution through a tenancy deposit protection scheme to deal with any dispute about the deposit at the end of the tenancy, 3.9 The statutory rights of the Landlord will pay and the refund Tenant to take legal action through the Tenant, irrespective County Court remain unaffected by clause 3.7 above 3.10 Neither the taking of who paid the Deposit hereunder nor the application of the said Deposit in whole or in part shall in any way prejudice or affect the Landlord's rights of action or other remedies (including the right to forfeit this tenancy) against the Tenant for the recovery of any rent or rents or any other monies damages costs or expenses due to the Landlord at the start in respect of any breach of covenant or other wrongful act of the tenancy.Tenant

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 7.1 The sum of £0,000.00 shall be paid by «Tenant_Name», «Unit_Description» (‘The Relevant Person’) to the Landlord/Agent upon the signing of this Agreement by way of a security Deposit (‘the Deposit’). 7.2 Upon the Tenant vacating the Premises and after deduction of all agreed or authorised deductions, the balance of the Deposit shall be refunded to the person or persons outlined at clause 7.1 above. 7.2.1 The Deposit will be paid into held by the Agent as Stakeholder. The Agent is a tenancy deposit scheme within the timescales laid out in member of the Tenancy Deposit Schemes Scheme (Scotland‘TDS Insured’) Regulations 2011 operated by The Dispute Service (‘TDS’). 7.3 The Landlord’s Agent will protect the Regulations”). No interest shall be paid by Deposit within 30 days of the Landlord commencement of the Tenancy or receipt of the Deposit, whichever is earlier, and give to the Tenant for and to any Relevant Person a copy of the Prescribed Information together with details of the scheme applicable to the registration of the Deposit. 6.2 7.4 Any interest earned on the holding of the Deposit will belong to The Tenant agrees and acknowledges Landlord. 7.5 The Deposit has been taken for the following purposes: 7.5.1 Any fees or other monies that the Landlord will be Agent is entitled to retain sums recover from the Deposit at Tenant pursuant to the Agreement. 7.5.2 Any rent or other money due or payable by the Tenant under the Tenancy of which the Tenant has been made aware and which remains unpaid after the end of this tenancy agreement in respect of:the Tenancy. This will include a fee which any Agent is entitled to recover from the Tenant. 6.2.1 7.5.3 Any damage, or compensation for damage, to the Accommodation Premises, its Fixtures and a share of any damage Fittings, or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each each, and any such item at the start commencement of the Tenancy PeriodTenancy, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Landlord. 6.2.2 7.5.4 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's ’s obligations in this tenancy agreementunder the Agreement, including those relating to the cleaning of the Accommodation Premises and the Common Parts its Fixtures and their respective ContentsFittings, and contents. 6.2.3 7.5.5 Any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant’s execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in sum of One Hundred Nineteen Thousand Two Hundred Forty and No/100 Dollars ($119,240.00), which sum (the Tenancy Deposit Schemes (Scotland“Security Deposit”) Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant’s failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord’s general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord’s option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant’s interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Property. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations Landlord’s interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Sublease (Macrogenics Inc)

Deposit. 6.1 The 9.1 By not later than 10 days following the delivery by Landlord of the fully executed Lease to Tenant, Tenant shall deposit, and will keep on deposit at all times during the Initial Term, with Landlord the Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant as security for the Deposit. 6.2 The Tenant agrees payment and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end performance of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations under this Lease. If, at any time, after an Event of Default by Tenant, Landlord has the right to use the Deposit, or so much thereof as necessary, in payment of Rent, in reimbursement of any expense incurred by Landlord, and in payment of any damages incurred by Landlord by reason of such Event of Default. In such event, Tenant shall on demand of Landlord forthwith remit to Landlord a sufficient amount in cash to restore the Deposit to the original amount. If the entire Deposit has not been utilized, the remaining amount will be refunded to Tenant or to whoever is then the holder of Tenant's interest in this tenancy agreementLease, including those relating without interest, within 60 days after expiration of the Initial Term. Landlord may deliver the Deposit (or rights to the cleaning Deposit account, as referred to above) to any purchaser of Landlord's interest in the Accommodation Premises and Landlord shall be discharged from further liability therefor following actual delivery of such Deposit and assumption by the Common Parts and their respective Contentstransferee of Landlord's obligations with respect thereto. Tenant agrees that if a Mortgagee succeeds to Landlord's interest in the Premises by reason of foreclosure or deed in lieu of foreclosure, Tenant has no claim against the Mortgagee for the Deposit or any portion thereof unless such Mortgagee has actually received the same from Landlord. If claims of Landlord exceed the Deposit, Tenant shall remain liable for the balance. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at 9.2 Subject to the Accommodation for which the provisions of Section 9.4, if there is no Event of Default by Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement as of which the Tenant has been made aware and which remains unpaid after the end of the tenancyend of the 36th month following the Commencement Date or circumstances which with the mere passage of time or giving of notice would constitute an Event of Default following such date, the Deposit shall be reduced by $184,667.08; if there is Event of Default by Tenant as of the end of the end of the 36th month following the Commencement Date or circumstances which with the mere passage of time or giving of notice would constitute an Event of Default, such reduction shall occur thereafter only upon the curing of such Event of Default or circumstances, as applicable. The remaining Deposit shall then be held for the balance of the Initial Term until the Expiration Date (as provided in Section 1.3), subject to application in accordance with this Section. 6.2.5 Any loss arising as 9.3 The Deposit shall be in the form of immediately available funds deposited in a result of any breach by the Tenant of their obligations separate interest-bearing account in this tenancy agreement (including the Landlord's name, which interest shall be considered additional Deposit or, alternatively Tenant shall have the right to request Landlord's consent to the substitution of an irrevocable transferable letter of credit for the Deposit and Agent's proper and reasonable costs Landlord shall not withhold consent to such substitution subject to such letter of enforcing or attempting to enforce the Tenant's obligations credit being issued by a lending institution approved by Landlord and the costs letter of instructing adviserscredit being in a form approved by Landlord ("Letter of Credit") 6.3 Subject , such approval not to Clauses 6.1 be unreasonably withheld, conditioned or 6.2 delayed, in the Deposit or part amount of the Deposit, if any, will be refunded subject to reduction as provided above. If the Letter of Credit would otherwise expire prior to the Expiration Date, Tenant within shall present Landlord with an extension or renewal of the timescales as laid out initial Letter of Credit, or a substitute Letter of Credit in the Regulationssame form, not later than 60 days prior to the expiration date of such initial Letter of Credit, from a lending institution subject to Landlord's reasonable approval; such extension, renewal or substitute Letter of Credit shall be effective no later than the day prior to the expiration of the initial Letter of Credit and shall continue in effect for not less than the period ending with the Expiration Date and shall be in the amount provided above. Where Tenant agrees that in an Event of Default by Tenant (as defined in Section 20), Landlord shall have a right to present the Tenant requests the Landlord to send the Deposit Letter of Credit (or the balance renewal, extension or substitute) for payment, with amounts received to be held and applied in accordance with this Section. Any failure of it) Tenant to provide Landlord with an overseas bank account extension, renewal or substitute Letter of Credit, as required hereunder, shall be deemed an Event of Default under the Lease and Landlord shall be entitled have a right to deduct present the sum Letter of £20 from Credit in accordance with the foregoing provision. If the Letter of Credit has not been presented for payment in accordance with this Section on or before the Expiration Date, Landlord shall return the Letter of Credit to Tenant within thirty (30) days after the Expiration Date. Tenant agrees that in the event of any assignment or this Lease or mortgage, Landlord shall have the right to transfer the Letter of Credit or substitute to the assignee or mortgagee (and Tenant shall pay any costs or fees charged by the issuer to permit such transfer), and if the Letter of Credit has been transferred as provided above, Tenant shall look solely to such transferee for the return of the Letter of Credit (or substitute), provided that Landlord shall give written notice to Tenant of transfer of Landlord's interest resulting in transfer of the Letter of Credit and the transferee shall assume the obligation to return the same to Tenant in accordance with this Lease. Landlord shall deliver the then-current effective Letter of Credit to Tenant upon receipt of any conforming renewal or substitute Letter of Credit provided in accordance with this Paragraph and cooperate with the issuing bank to effect the release of such then-current effective Letter of Credit. 9.4 In accordance with Paragraph 6 of the Addendum, the obligations of Tenant are guaranteed by the Guarantor, Bridge Information Systems, Inc., a Missouri corporation, pursuant to the terms of the Guaranty. The Guaranty provides for the ability to substitute Tenant's parent corporation, Savvis Communications Corporation, a Delaware corporation, as Guarantor, subject to increasing the amount of the Deposit to cover a total of $3,196,419.30 in the cost form of the banking fee and transfer fee incurred Letter of Credit referred to above; the effective date of such substitution is referred to as the Substitution Date. In such event, the following provision shall be applicable, in substitution for the provisions of Section 9.2 above: (i) if there is no Event of Default (or circumstances which with the mere passage of time or giving of notice would constitute an Event of Default) by the Landlord. If any Tenant as of the Deposit is due to be returned at the end of the tenancy12th month following the Substitution Date or circumstances which with the mere passage of time or giving of notice would constitute an Event of Default following such date, the Landlord will pay Deposit shall be reduced by $351,107.29; (ii) likewise, on each anniversary thereafter of the refund to Substitution Date through and including the Tenant7th anniversary, irrespective if there is no Event of who paid Default (or circumstances which with the mere passage of time or giving of notice would constitute an Event of Default) as of such date, the Deposit to shall be additionally reduced by $351,107.29 (however, in no event shall such reductions result in reduction below $738,668.32); (iii) if there are circumstances which with the Landlord at the start mere passage of time or giving of notice would constitute an Event of Default as of the tenancyrespective anniversary of the Substitution Date, the respective reduction shall occur thereafter only upon the curing of such Event of Default or circumstances, as applicable; (iv) the remaining Deposit as of the 7th anniversary of $738,668.32 shall then be held until the Expiration Date of the Initial Term, subject to application in accordance with this Section. The reduction of the amount of the Deposit shall be effected by amendment of the then-effective Letter of Credit (by amendment executed by the issuer and Landlord) or by Tenant's substitution of a substitute Letter of Credit in the respective reduced amount (in which event Landlord shall surrender the Letter of Credit being held as of the substitution upon receipt of the substitute).

Appears in 1 contract

Samples: Office Lease (Savvis Communications Corp)

Deposit. 6.1 a. If not paid prior to the date hereof the Tenant agrees to pay the Deposit to the Landlord on the date of this agreement. b. The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest Landlord shall be paid by the Landlord entitled at any time to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums deduct from the Deposit at such proportion (up to 100%) of the end Deposit as may be reasonably necessary to rectify any breaches by the Tenant of the terms of this tenancy agreement in respect ofagreement, including but not limited to the following: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of (i) making good any damage or compensation for damage to the Common Parts and their respective Property or the Contents for which the Tenant may be liable, subject to an apportionment or allowance (except for fair wear and tear, the age and condition of each and ); (ii) replacing any such item at the start of the Tenancy Period, save that Contents which may be missing from the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord Property or damaged beyond repair; (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of iii) paying any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, outstanding Rent any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees early surrender fee or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the date on which this payment was due; (iv) paying for the Property and the Contents to be cleaned (if the Tenant is in breach of his/her obligations under this agreement); (v) removing and disposing of Tenant’s Items at the Property at the end of the tenancy.Term in accordance with clause 13.e; 6.2.5 Any loss arising (vi) paying any unpaid charges for any Utility Services, water charges or council tax incurred at the Property for which the Tenant is liable; and (vii) paying any legal or professional fees incurred by the Landlord as a result of any breach breaches by the Tenant of their obligations in the terms of this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations on a full indemnity basis; and the costs Landlord will notify the Tenant as soon as practicable of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 any such deduction made before the Deposit or part end of the Deposit, if any, will Term whereupon the Tenant shall be refunded obliged to pay to the Tenant within Landlord an amount equal to such deduction to replenish the timescales as laid out in the Regulations. Where Deposit. c. If the Tenant requests fails to vacate the Landlord to send Property at the Deposit end of the Term (or the balance as required by clause 13.c of itthis agreement) to an overseas bank account then the Landlord shall be entitled to deduct the sum of £20 from the Deposit such proportion (up to cover 100%) of the Deposit as may be reasonably necessary to pay any of the following: a) the cost of unpaid charges for council tax or Utility Services water charges or other similar services incurred at the banking fee and transfer fee Property in relation to the period after the Term but whilst the Tenant remained in occupation and b) an amount equal to the amount of rent which the Landlord could have charged if the Property had been let to another tenant from the day after the end of the Term onwards, calculated on a daily rate until the Tenant vacates the Property; and c) any legal or professional fees incurred by the Landlord. If Landlord in seeking possession of the Property on a full indemnity basis, including (without limitation) any court fees, bailiffs’ fees or solicitors’ fees. d. The balance (if any) of the Deposit is due to be returned remaining at the end of the tenancyTerm after deductions pursuant to clause 7.b above shall be refunded to the Tenant not later than four weeks after the end of the Term, except where either:- (i) the Tenant has failed to vacate the Property at the end of the Term as required by clause 13, in which case the balance of the Deposit (if any) will be refunded to the Tenant not later than four weeks after the Tenant fully vacates the Property and complies with the Tenant’s obligations under clause 13.d; or (ii) the Landlord and Tenant enter into a surrender agreement in relation to this agreement, in which case the Landlord will pay comply with the terms of that surrender agreement regarding the refund of the balance (if any) of the Deposit. e. The Tenant agrees that no interest is payable in regard to the Deposit, or any balance remaining after deductions. f. The Tenant agrees and acknowledges that the Rent must be paid in accordance with clause 6 of this agreement and the Tenant cannot require the Landlord to use the Deposit in lieu of any payment of Rent. g. The Landlord shall be entitled to refund any balance of the Deposit either equally to both parties forming the Tenant, irrespective or to one of who paid the parties forming the Tenant at its discretion. It will then be up to the parties forming the Tenant to decide how it will be divided amongst themselves10. h. In the event that the total amount lawfully due at the end of the tenancy exceeds the amount of the Deposit the Tenant shall reimburse the Landlord for the further amount within 14 days of the request being made. i. The Deposit is held pursuant to the Landlord at Universities UK Code of Practice for the start Management of Student Housing (sometimes known as the tenancy‘Accommodation Code of Practice’, or the ‘Student Accommodation Code’) a copy of which is available on the Universities UK website.

Appears in 1 contract

Samples: Tenancy Agreement

Deposit. 6.1 The Deposit A returnable deposit will be paid into payable before signing this Tenancy Agreement. Deductions will be made for breach of terms of agreement such as: - Rent due. Damage to the property, fixtures and fittings. Any reasonable cost incurred to the landlord directly arising from breach of a tenancy contract term. The Landlord/s will protect the deposit through the following scheme Choose an item. The Landlord(s) will protect the deposit within the timescales laid out next 30 days, after which the scheme will be able to confirm with the tenant/s that the deposit has been protected. At the end of the tenancy the deposit (or part of the deposit) will be returned to the tenant/s after: In the case of the custodial scheme being used, within 10 days of the custodial scheme being notified of the agreement between the landlord and tenant or the ADR/ court decision. In the case either of the insurance based schemes being used, within 10 days of the tenant requesting that the landlord return their deposit. Or in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid case of a dispute 10 days after being notified of a decision by the Landlord scheme’s ADR. At the end of the tenancy if there is a dispute between the Landlord(s) and Tenant(s) about any part of the deposit being retained due to breach of tenancy terms, the Tenant for Alternative Dispute Resolution (ADR) service of the Deposit. 6.2 The Tenant agrees and acknowledges scheme used will be contacted to help reach a resolution. At the end of the fixed term the tenant can leave the tenancy. It is recommended that the Landlord will be entitled tenant provides one months’ notice of their intention to retain sums from leave the Deposit property at the end of the fixed term. If this tenancy agreement becomes periodic the tenant will give the landlord one months’ notice of their intention to leave the property. The Tenant(s) agree to permit the Landlord(s) or their agent upon giving reasonable notice to enter the property at reasonable times by prior appointment to show the property to prospective tenants and/ or buyers. The Tenant(s) must clear out all your belongings, leaving the furniture and fittings in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item same state as they were at the start of the Tenancy Period, save that tenancy subject to reasonable wear and tear. The Tenant(s) must return the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save keys to the extent that landlord on the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end last day of the tenancy. 6.2.5 Any loss arising as a result of . The Tenant(s) must ensure that you have made arrangements to clear out any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing household waste or attempting rubbish via correct means prior to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part final inspection of the Deposit, if any, will be refunded property. The landlord retains the right to withhold the Tenant within the timescales as laid out deposit until satisfied that any items of rubbish or waste have been removed and disposed of in the Regulationscorrect fashion. Where The Tenant(s) must provide the Tenant requests the Landlord to send the Deposit (or the balance of itLandlord(s) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned with a forwarding address at the end of the tenancy, Tenancy. The Landlord(s) must give the Landlord will pay Tenant(s) possession of the refund to the Tenant, irrespective of who paid the Deposit to the Landlord Property at the start of the tenancyTenancy. The Landlord(s) hereby warrants that they are legally entitled to grant the tenancy and has obtained any consent required from a mortgagee or superior landlord or any other interested party. The Landlord(s) agrees that they will protect any deposit paid by the tenant/s through one of the three authorised schemes within 30 days of receiving the deposit and provide the tenant with the prescribed information. Where either of the insurance-based schemes is used, if there is a dispute about part of the deposit the landlord will return any part of the deposit not in dispute to the tenant within 10 days and forward the disputed amount to the ADR of the scheme used to protect the deposit. The Landlord(s) will not interfere with the tenants peaceful and quiet enjoyment of the property. This agreement takes effect subject to the provisions of Section 11 of the Landlord & Xxxxxx Xxx 0000 where it sets out which repairs the Landlord(s) is responsible for. The Landlord(s) will: keep in repair the structure and exterior of the Property (including drains, external pipes, gutters and external windows); keep in repair and proper working order the installations in the Property for the supply of water, gas and electricity and for sanitation (including basins, sinks, baths and sanitary conveniences, but not other fixtures, fittings and appliances for making use of the supply of water, gas or electricity); and keep in repair and proper working order the installations in the Property for space heating and heating water. In accordance with section 11 of the Landlord and Xxxxxx Xxx 0000, the Landlord is not required: to repair anything which the Tenant(s) is liable to repair by virtue of the Tenant’s duty to take reasonable care of the Property; to rebuild or reinstate the Property in the case of destruction or damage by fire, storm or flood; or to keep in repair or maintain anything which the Tenant is entitled to remove from the Property. The Landlord(s) will return any rent paid for a period that the property is uninhabitable by fire. If there is a dispute about this then it will be settled by arbitration.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into is held by the Landlord/Landlord’s Agent as stakeholder. The Landlords Agent is a tenancy deposit scheme within the timescales laid out in member of the Tenancy Deposit Schemes (Scotland) Regulations 2011 (Scheme. The Deposit as the sum specified under the Regulations”). No interest shall be Deposit” on Page 1 hereof is paid by the Landlord tenant to the Tenant Landlords Agent. Purpose of the deposit The Deposit has been taken for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect offollowing purposes: 6.2.1 6.1 Any damage, or compensation for damage, to the Accommodation premises its fixtures and a share of any damage fittings or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start commencement of the Tenancy Periodtenancy, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]).landlord 6.2.2 6.2 The reasonable costs incurred in compensating the Landlord and/or the Agent landlord for, or for rectifying or remedying, remedying any major breach by the Tenant tenant of the Tenant's tenant’s obligations in this under the tenancy agreement, including those relating to the cleaning of the Accommodation premises, its fixtures and the Common Parts and their respective Contents.fittings 6.2.3 6.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees rent or other money due or payable by the Tenant tenant under this the tenancy agreement of which the Tenant tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as 6.4 The Tenant agrees to pay the Deposit to the Landlord/Landlord’s Agent on signing this agreement. 6.5 The Landlord agrees to deal with the Deposit in accordance with the Tenancy Deposit Scheme authorised under the Housing Xxx 0000 (“TDS”). 6.6 The Deposit may be used by the Landlord towards remedying a result of any breach by the Tenant of their obligations in under this tenancy agreement (including agreement. 6.7 The Tenant may not use the Deposit as rent or for any other payment to the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers). 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will 6.8 No interest shall be refunded payable to the Tenant within on the timescales as laid Deposit. 6.9 The Tenancy Deposit Scheme protects the Deposit and its prescribed information is set out in the Regulations. Where the Tenant requests the schedule attached. 6.10 The Landlord to send the Deposit (or will return the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the Tenant in accordance with the procedure below after the Landlord has deducted the cost of the banking fee and transfer fee incurred by the Landlord. If putting right any breach of the Deposit is due to be returned at Tenant’s responsibilities. 6.11 At the end of the tenancy 6.11.1 The Agent must tell the Tenant within 10 Working Days of the end of the tenancy if they propose to make any deductions from the Deposit. 6.11.2 If there is no dispute the Agent will keep or repay the Deposit, according to the agreed deductions and the conditions of this agreement. Payment of the Deposit or any balance of it will be made within 10 Working Days of the Landlord will pay and the refund Tenant agreeing the allocation of the Deposit. 6.11.3 The Tenant should try to inform the Agent in writing if the Tenant intends to dispute any of the deductions regarded by the Landlord or the Agent as due from the Deposit within 20 Working Days after the termination or earlier ending of the Term and the Tenant vacating the Property. The ICE may regard failure to comply with the time limit as a breach of the rules of TDS and if the ICE is later asked to resolve any dispute may refuse to adjudicate in the matter. 6.11.4 If, after 20 Working Days following notification of a dispute to the TenantAgent and reasonable attempts having been made in that time to resolve any differences of opinion, irrespective there remains an unresolved dispute between the Landlord and the Tenant over the allocation of who paid the Deposit the dispute will be submitted to the Landlord at ICE for adjudication. All parties agree to co-operate with the start adjudication. 6.11.5 The statutory rights of the tenancyLandlord and the Tenant to take legal action through the County Court remain unaffected by the clauses above.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant's execution of this Lease, Tenant ------- shall deposit scheme within with Landlord the timescales laid out in sum of One Hundred Fifty-Nine Thousand Two Hundred and No/100 Dollars ($159,200.00), which sum (the Tenancy Deposit Schemes (Scotland"Security Deposit") Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant's failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord's option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant's interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Property. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the TenantLandlord's obligations interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Section to Landlord's and Agent's proper and reasonable costs successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Build to Suit Lease (Tularik Inc)

Deposit. 6.1 7.1 The sum of £???.?? shall be paid by The Relevant Person to the Landlord/Agent upon the signing of this Agreement by way of a security Deposit (‘the Deposit’). 7.2 Upon the Tenant vacating the Premises and after deduction of all agreed or authorised deductions, the balance of the Deposit shall be refunded to the person or persons outlined at clause 7.1 above. 7.2.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in held by the Tenancy Deposit Schemes Scheme (Scotland) Regulations 2011 (“‘TDS Custodial’) 7.3 The Landlord’s Agent will protect the Regulations”). No interest shall be paid by Deposit within 30 days of the Landlord commencement of the Tenancy or receipt of the Deposit, whichever is earlier, and give to the Tenant for and to any Relevant Person a copy of the Prescribed Information together with details of the scheme applicable to the registration of the Deposit. 6.2 7.4 Any interest earned on the holding of the Deposit will belong to the Tenant Deposit Scheme (‘TDS Custodial’). 7.5 The Tenant agrees and acknowledges Deposit has been taken for the following purposes: 7.5.1 Any fees or other monies that the Landlord will be Agent is entitled to retain sums recover from the Deposit at Tenant pursuant to the Agreement. SAMPLE 7.5.2 Any rent or other money due or payable by the Tenant under the Tenancy of which the Tenant has been made aware and which remains unpaid after the end of this tenancy agreement in respect of:the Tenancy. This will include a fee which any Agent is entitled to recover from the Tenant. 6.2.1 7.5.3 Any damage, or compensation for damage, to the Accommodation Premises, its Fixtures and a share of any damage Fittings, or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each each, and any such item at the start commencement of the Tenancy PeriodTenancy, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Landlord. 6.2.2 7.5.4 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's ’s obligations in this tenancy agreementunder the Agreement, including those relating to the cleaning of the Accommodation Premises and the Common Parts its Fixtures and their respective ContentsFittings, and contents. 6.2.3 7.5.5 Any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 1000.00 8.1 You must pay a Deposit of (repeat as per page 3) £ to (write ‘us’ or ‘our Agent’ as required) our Agent to be protected as security towards the discharge or part discharge of any liability referred to in Clause 8.4 of this Agreement and subject to this on trust for you absolutely. The Deposit is held by Landlord or Agent who is a member of the government approved tenancy deposit scheme (insert scheme name): Deposit Protection Service (DPS) or Tenancy Deposit Scheme (TDS) 8.2 If the Deposit is held in a custodial-based government approved tenancy deposit scheme, any interest on the Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to you subject to the Tenant for terms and conditions of the scheme. If the Deposit is held by us or our Agent you will not receive interest on the Deposit. 6.2 8.3 The Tenant agrees Deposit shall be returned to you (less any deductions properly made) within 10 working days of the end of the Tenancy upon vacant possession of the Property and acknowledges that return of the Landlord will keys if you have kept to all the obligations within this Agreement. 8.4 Monies shall be entitled to retain sums deducted from the Deposit at in respect of all reasonable costs and expenses incurred by us (including but not limited to the end costs and fees of this tenancy agreement our solicitors and other professional advisors) in respect of: 6.2.1 Any damage, 8.4.1 the recovery from you of any Rent or any other money which is in arrears; 8.4.2 the enforcement of any of the provisions of this Agreement; 8.4.3 compensation for damage, in respect of your use and occupation in the event that you fail to vacate the Property on the due date; 8.4.4 the service of any notice relating to the Accommodation and a share breach by you of any damage of your obligations under this Agreement whether or compensation for damage not the same shall result in court proceedings; 8.4.5 the cost of any bank or other charges incurred by us if any cheque written by you is dishonoured or if any standing order payment is withdrawn by your bankers; 8.4.6 the cost of repairing, decorating or cleaning the Property or the Contents so they are to the Common Parts and their respective Contents for which same standard as at the Tenant may be liable, subject to an apportionment or allowance for commencement of the Tenancy (fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]tear excepted).; 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover 8.4.7 the cost of replacing any items listed in the banking fee and transfer fee incurred by Inventory which are missing from the Landlord. If any of the Deposit is due to be returned Property at the end of the tenancyTenancy; 8.4.8 the cost of removal, storage and disposal by us and/or the Landlord will Agent of any goods or personal effects belonging to you or members of your household which have been left at the Property after the expiry or termination of the Tenancy in accordance with Clause 1.53 of this Agreement; 8.4.9 any other monies owed by you to us and/or the Agent; 8.4.10 reasonable costs in reinstating the Property owing to your breach of any conditions of this Agreement; and 8.4.11 the Policy excess of (repeat as per page 5) £ insurance, attributable to your act or failure to act. incurred as a result of a claim on our 8.5 If the Deposit shall be insufficient you shall pay the refund Agent such additional sums as shall be required to the Tenantcover all costs, irrespective of who paid the Deposit to the Landlord at the start of the tenancycharges and expenses properly due.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 On or before the date of entry the Tenant shall pay a deposit of £XXX in cleared funds to the Landlord's agents. The Deposit Landlord's Agents will issue a receipt to the Tenant if requested to do so. The deposit will not earn interest for the Tenant or the Landlord. The deposit is held as security for the performance of the Tenant’s obligations under this agreement and to compensate the Landlord for any breach of those obligations. For example, but not limited to, the deposit may be used by the Landlord to pay for – a) any rent arrears, breakages, losses or damage for which the Tenant is liable in terms of this lease, the cost of repairing such damage to be assessed by the Landlord or the Landlord’s Agents. For the avoidance of doubt, cost to repair damage occasioned to flooring and/or floor coverings will be deducted from the deposit and the tenant is reminded to wear appropriate indoor footwear; b) all sums in respect of any cleaning which may be required, but which the Tenant has failed to do to ensure the subjects and contents are left in good tenantable order in accordance with the terms of this lease, the cost of such cleaning to be assessed by the Landlord or the Landlord’s agents;also refer to Section 21(pets); c) all sums in respect of any garden maintenance which may be required, but which the Tenant has failed to do, in accordance with the terms of this lease; d) the cost of replacement of keys provided but not returned; e) any outstanding accounts for utilities including but not limited to - gas, oil, electricity, internet, cable or Sky TV and telephone incurred during the period of let due by the Tenant; f) any legal fees, VAT and outlays incurred by the Landlord or the Landlord's agents as a result of the Tenant’s breach of this tenancy agreement, including the cost of court proceedings to recover possession of the premises. The deposit shall be paid into to a tenancy deposit scheme within of the timescales laid out Landlord’s agents choosing in terms of the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”)2011. No interest shall The Deposit will be paid held by the Landlord Scheme in accordance with the Scheme’s rules. The Landlord's agent is entitled to transfer the deposit to a different Scheme if he wishes to do so. If he does, the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end informed of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after this. At the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by tenancy the Tenant of their obligations in this tenancy agreement (including Landlord, the Landlord's agents or the Tenant can ask the Scheme to repay the deposit to them. The Scheme will notify the other party and Agent's proper and reasonable costs seek their agreement with regards to the disposal of enforcing or attempting the deposit. Any proportion of the deposit which is not in dispute will be paid out by the Scheme in accordance with the Scheme’s rules. Any proportion of the deposit in dispute will be held by the Scheme pending the outcome of the Scheme’s dispute resolution mechanism in accordance with the Scheme’s rules. Any dispute regarding the distribution of the deposit will proceed in accordance with the Tenancy Deposit (Scotland) Regulations 2011. In the event that the tenancy deposit has not yet been transferred to enforce a scheme, at the Tenant's obligations and conclusion of the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 tenancy, the Deposit deposit, or part of the Deposit, if any, deposit will be refunded to the Tenant within 14 days, or as soon as possible after the timescales as laid out in expiry or termination of the Regulationslease and all utility bills have been settled by the Tenant. Where If the Tenant requests breaches any of the Landlord obligations of this lease prior to send the Deposit (or the balance of it) tenancy deposit being transferred to an overseas bank account a tenancy deposit scheme, the Landlord shall be entitled to deduct make such deductions as provided for in this lease. In the sum of £20 from event this tenancy is a joint tenancy (i.e. there is more than one tenant) all tenants acknowledge that, for the Deposit to cover the cost purposes of the banking fee tenancy deposit, the person first named on this lease will be the “lead tenant” for the purposes of the administration of the deposit in terms of the rules of the tenancy deposit scheme. The tenants to this lease acknowledge that the lead tenant will be responsible for and transfer fee control the repayment process, communication with the scheme and the dispute resolution mechanism, if applicable. The tenants acknowledge that the Landlord accepts no liability for any actions or failings of the lead tenant in respect of the deposit, and that any liability for any losses incurred as a result of the actions or failings of the lead tenant will attach to the lead tenant solely and not the Landlord or the Landlord's agents. The deposit will be returned in equal shares unless the deposit scheme is instructed otherwise by the Landlord. If any of tenant registered as the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancylead tenant.

Appears in 1 contract

Samples: Short Assured Tenancy

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid held by the Landlord to the Tenant as security for the Deposit. 6.2 The faithful performance and observance by Tenant agrees of all of the agreements, covenants, conditions and acknowledges that the Landlord will provisions of this Lease to be performed or observed by Tenant, and Tenant shall not be entitled to retain sums from any interest thereon. In the Deposit at event Tenant fails to perform or observe any of the end agreements, covenants, conditions and provisions of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed or observed by it, or compensation for damagethen at Landlord’s option, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableLandlord may, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may but shall not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent forobligated to, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of apply the Deposit, if anyor so much thereof as may be necessary, will be refunded to the remedy any such failure by Tenant. Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the shall immediately upon request pay to Landlord any sum necessary to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid restore the Deposit to the Landlord at the start full amount specified in Section l.L. If Tenant complies with all of the tenancyterms of this Lease, the Deposit shall be returned to Tenant within sixty (60) days following the completion of year end net charge reconciliations for the Building for the calendar year in which this Lease expires or is terminated, less any sums payable by Tenant to Landlord, unless specifically prohibited by law. In no event shall Tenant be entitled to apply the Deposit to any Rent due hereunder. In the event of an act of bankruptcy by or insolvency of Tenant, or the appointment of a receiver for Tenant or a general assignment for the benefit of Tenant’s creditors, then the Deposit shall be deemed immediately assigned to Landlord. The right to retain the Deposit shall be in addition and not alternative to Landlord’s other remedies under this Lease or as may be provided by law and shall not be affected by summary proceedings or other proceedings to recover possession of the Premises. In the event of a sale or transfer of Landlord’s interest in the Premises or the Building or a lease by Landlord of the Building, Landlord shall have the right to transfer the within described Deposit to the purchaser or lessee, as the case may be, and following such purchaser’s or lessee’s assumption of Landlord’s obligations under this Lease, Landlord shall be relieved of all liability to Tenant for the return of such Deposit. Tenant shall look solely to the new owner or lessee for the return of said Deposit. In the event Landlord elects not to transfer the Deposit to such purchaser or lessee, then Landlord shall return the Deposit (less any amounts due and payable to Landlord) to Tenant contemporaneous with the sale or transfer of Landlord’s interest in the Premises and/or the Building. The Deposit shall not be mortgaged, assigned or encumbered by Tenant. In the event of a permitted assignment or subletting under this Lease by Tenant, the Deposit shall be held by Landlord as a deposit made by the permitted assignee or subtenant and Landlord shall have no further liability with respect to the return of said Deposit to the original Tenant. Landlord shall not be required to keep the Deposit separate from its general accounts.

Appears in 1 contract

Samples: Equity Purchase Agreement (True Nature Holding, Inc.)

Deposit. 6.1 The Tenant shall pay to the Landlord or the Managing Agent, on the signing of this Agreement, the Deposit which shall be transferred by the Managing Agent to TDS who will be paid into hold the Deposit in the Custodial Scheme as Stakeholder for the duration of the Tenancy. The Managing Agent is a tenancy deposit scheme within the timescales laid out in member of the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the DepositCustodial Scheme. 6.2 The Tenant agrees that if more than one person forms the Tenant the name of the Lead Tenant for the TDS will be provided to the Landlord or the Managing Agent within fourteen days of the Tenancy starting or the Deposit being taken, whichever is earlier. The Tenant agrees that the Lead Tenant is authorised to accept service of all documents relating to the Deposit from the TDS, the Landlord and acknowledges the Managing Agent on behalf of each person forming the Tenant. 6.3 After the end of the Tenancy, the Landlord or the Managing Agent on the Landlord’s behalf is entitled, with the written consent of the Landlord and the Tenant, to deduct from the Deposit any monies referred to in clause A6 of this Agreement. If more than one such deduction is to be made from the Deposit by the Landlord or the Managing Agent, monies will be deducted from the Deposit in the order listed in clause A6.6 of this Agreement. 6.4 After the end of the Tenancy, in the event of there being no proposed deductions to the Deposit, the Managing Agent on the Landlord’s behalf shall request TDS to return the Deposit to the Tenant within thirty days of the end of the Tenancy or any extension of it. 6.5 If the amount of monies that the Landlord or the Managing Agent is entitled to deduct from the Deposit exceeds the amount held as the Deposit, the Tenant shall pay that additional sum to the Landlord or the Managing Agent within fourteen days of the Tenant receiving a request for such sum in writing. 6.6 The Managing Agent, with the written consent of the Tenant, may request TDS to deduct monies from the Deposit to compensate the Landlord for losses caused for any or all of the following reasons: • any instalment of the Rent which is due but remains unpaid at the end of the Tenancy; • any damage to the Property and Fixtures and Fittings caused by the Tenant or arising from any breach of the terms of this Agreement by the Tenant; • any damage caused or cleaning required due to pets, animals, reptiles, birds, or fish occupying the Property (whether or not the Landlord consented to its presence); • any sum repayable by the Landlord or the Managing Agent to the local authority where housing benefit has been paid direct to the Landlord, or the Managing Agent; • any other breach by the Tenant of the terms of this Agreement; • any unpaid account or charge for water including sewerage and environmental charges, electricity gas telephone, Telecommunications charges, or other fuels; • any unpaid council tax. 6.7 After the end of the Tenancy, if there are proposed deductions to the Deposit: 6.7.1 The Managing Agent must tell the Tenant as soon as practicable after the end of the Tenancy if they propose to make any deductions from the Deposit. 6.7.2 The Deposit will be entitled returned to retain sums the Tenant by TDS within a reasonable timescale from all deductions being agreed between the Landlord and the Tenant except in case of dispute. Any dispute regarding deductions from the Deposit can be referred to the Alternative Dispute Resolution service of TDS up until ninety days after the end of the Tenancy. Protection of the Deposit The Deposit is safeguarded by the TDS, which is administered by: Xxxx Xxxx, Xxxxx Xxxxx, Xxx Xxxxxxxx Xxxxxxxx, 000 Xxxxxxxx Xxxxxx, Xxxxx Xxxxxxxxx, XX0 0XX Telephone 0000 000 0000 Email xxxxxxxx@xxxxxxxxxxxxxxxxxxxx.xxx 6.8 The statutory rights of the Landlord and the Tenant to take legal action through the County Court remain unaffected by clauses A6.7 and A6.8 above. 6.9 Joint Consent to Adjudication Where there is more than one person forming the Tenant each person forming the Tenant agrees with the other that any one of them may consent on behalf of all the others to use alternative dispute resolution through the TDS to deal with any dispute about the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Tenancy. 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will From and after the occurrence of an Event of Default, Tenant shall deposit with Landlord, at the time of each payment of Fixed Net Rent, one-twelfth (12th) of an amount estimated by Landlord, in Landlord's sole judgment, sufficient to pay all Impositions for the succeeding one (1) year period. Such amounts shall be paid into held by Landlord in an interest-bearing account in a tenancy deposit scheme within savings or commercial bank or in city, state or federal government obligations. Such amounts and the timescales laid out interest earned thereon shall be applied to the payment of the Impositions in such order of priority as Landlord shall determine. If at any time the amounts deposited with Landlord for payment of the Impositions are, in the Tenancy Deposit Schemes opinion of Landlord, insufficient to pay the Impositions for six (Scotland6) Regulations 2011 (“the Regulations”). No interest months as they become due, Tenant shall be paid by the Landlord pay to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain Landlord, on demand, such additional sums from the Deposit at the end of this tenancy agreement as are necessary, in respect of: 6.2.1 Any damage, or compensation for damageLandlord's judgment, to discharge the Accommodation and a share of Impositions as they become due. Landlord may, at its sole option, apply all or any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Depositsums held by Landlord pursuant to this Section to the payment of all sums due by Tenant to Landlord under this Lease. Tenant shall restore all amounts so applied as a condition to the cure, if any, will be refunded of the Event of Default in addition to fulfilling any other required conditions. 4.9.1 If, pursuant to the Tenant within terms of any Mortgage or Leasehold Mortgage, there is a provision for the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance deposit of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due foregoing items in installments in advance with the holder of such Mortgage or Leasehold Mortgage, as the case may be, no such deposit shall be required under this Section, provided such holder of any Mortgage or Leasehold Mortgage agrees to apply such amounts in payment of the Impositions substantially in accordance with the terms of this Lease. 4.9.2 In the event of a sale or transfer of Landlord's interest in the Premises, Landlord shall transfer the interests of Landlord in the above deposits to the grantee or transferee. The seller or transferor shall be deemed to be returned at the end of the tenancy, the Landlord will pay the refund released from all liability with respect to said deposits and Tenant agrees to look solely to the Tenant, irrespective transferee or grantee with respect thereto. The provisions hereof shall apply to each successive transfer or assignment of who paid the Deposit such deposits to the Landlord at the start of the tenancya successor Landlord.

Appears in 1 contract

Samples: Lease Agreement (Empire Resorts Inc)

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Deposit. 6.1 (a) The Deposit will be paid into Tenant shall provide the Landlord with a tenancy security deposit scheme within the timescales laid out in the Tenancy Deposit Schemes amount of $450,000.00 (Scotlandthe “Deposit”) Regulations 2011 (“contemporaneously with the Regulations”)Tenant’s execution of this Lease. No interest shall Such obligation may be paid satisfied by the Landlord Tenant providing to the Tenant for Landlord an irrevocable letter of credit (the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end “Letter of this tenancy agreement in respect ofCredit”) which must: 6.2.1 Any damage, (i) be issued by a Canadian chartered bank or compensation for damage, other financial institution acceptable to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save the “Issuing Institution”); (ii) be in the amount of the Deposit; (iii) be in a form acceptable to the extent that the insurance has been invalidated due to the acts Landlord; and (iv) be for a term of the Tenant [1 year with automatic renewals or in respect extensions for successive periods of any excess])1 year. 6.2.2 (b) The reasonable costs incurred in compensating Landlord will hold the Landlord and/or Deposit to secure the Agent for, or for rectifying or remedying, any major breach by the Tenant fulfilment of all of the Tenant's obligations in this tenancy agreement’s Covenants (including, including those relating to without limitation, the cleaning payment of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or all amounts payable by the Tenant under this tenancy agreement of Lease) and all damages and losses which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising Landlord may suffer or incur as a result of this Lease being terminated by the Landlord or disclaimed in any breach bankruptcy or insolvency proceedings relating to the Tenant or any assignee of the Tenant, including, without limitation, all amounts which would have been payable under this Lease but for such termination or disclaimer. Without limiting the generality of the foregoing, the Deposit shall secure and may, at the Landlord’s option, be applied on account of any one or more of the following: (i) unpaid Rent, including, without limitation, any amount which would have become payable under this Lease to the date of the expiry of this Lease had this Lease not been terminated or disclaimed in any bankruptcy or insolvency proceedings; (ii) the prompt and complete performance of all of the Tenant’s Covenants in addition to the payment of Rent; (iii) the indemnification of the Landlord for any losses, costs or damages incurred by the Landlord arising out of any failure by the Tenant to observe and perform any of their obligations the Tenant’s Covenants; (iv) the performance of any obligation which the Tenant would have been obligated to perform to the date of the expiry of this Lease had this Lease not been terminated or disclaimed in any bankruptcy or insolvency proceedings; and (v) the losses or damages suffered by the Landlord as a result of the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. Upon the Tenant failing to observe or perform any of the Tenant’s Covenant or upon the occurrence of an Event of Default, the Landlord may, in addition to any other rights and remedies provided for in this tenancy agreement Lease or by law, appropriate and apply the entire Deposit, or so much thereof as the Landlord in its sole and absolute discretion deems necessary to compensate the Landlord for the matters described in Sections 6.26(b)(i) to 6.26(b)(v). (including c) The Landlord may draw on the Letter of Credit by delivering to the Issuing Institution a written demand for the amount being drawn by the Landlord's and Agent's proper and reasonable costs , together with a certificate signed by an officer of enforcing or attempting the Landlord stating that the Landlord is entitled to enforce draw the amount stated in the said written demand (an “Entitlement Certificate”). (d) The entire amount of the Letter of Credit is payable to the Landlord upon: (i) the bankruptcy of the Tenant's obligations , notwithstanding any disclaimer of this Lease by a trustee in bankruptcy; (ii) the Tenant taking the benefit of any statute for bankrupt or insolvent debtors or making any proposal, assignment or arrangement with its creditors; or (iii) the Tenant electing to terminate this Lease in connection with a proposal made by the Tenant under the Bankruptcy and Insolvency Act (Canada), the Companies Creditors Arrangement Act (Canada) or any other statute allowing the Tenant to terminate this Lease, as liquidated damages representing the parties genuine pre-estimate of the minimum amount of damages which the Landlord is deemed to have suffered as a result of the occurrence of any of the foregoing events. Upon the occurrence of any of the foregoing events, the Landlord may draw upon the entire Letter of Credit by delivering to the Issuing Institution a written demand for the entire amount of the Letter of Credit together with an Entitlement Certificate. (e) The entire amount of the Letter of Credit is payable to the Landlord (and will be held by the Landlord on the terms contained in this section) if the Landlord is advised by the Issuing Institution that it is electing not to extend or renew the Letter Credit and the costs Landlord is entitled to have a Deposit, unless the Tenant provides the Landlord with a replacement letter of instructing advisers)credit in a form acceptable to the Landlord at least 15 days prior to the expiry of the Letter of Credit. Upon the Landlord being so advised and the Tenant failing to provide the Landlord with such a replacement letter of credit within the time specified above, the Landlord may draw upon the entire amount of the Letter of Credit by delivering to the Issuing Institution a written demand for the entire amount of the Letter of Credit together with an Entitlement Certificate. The Landlord shall then hold the amount so drawn as the Deposit. If the Landlord has drawn down on the Letter of Credit pursuant to this Section 6.26(e) and the Tenant subsequently delivers a new irrevocable letter of credit from an Issuing Institution in a form acceptable to the Landlord and in an amount equal to the amount so drawn by the Landlord, then the Landlord shall return to the Tenant the amount so drawn within 10 Business Days following the Landlord’s receipt of such new letter of credit. 6.3 Subject to Clauses 6.1 or 6.2 (f) If the Landlord draws upon the Deposit (except in accordance with Section 6.26(e)), the Tenant shall, within 10 days following written demand being made by the Landlord, provide the Landlord with: (i) if the Landlord has drawn upon the Letter of Credit, a new irrevocable letter of credit in the same form as the original Letter of Credit and in an amount such that the undrawn amount of all of the letters of credit provided by the Tenant to the Landlord equals the sum of the original Letter of Credit and the Landlord shall hold such new letter of credit upon the same terms as the original Letter of Credit; and/or (ii) if the Landlord has drawn upon any cash portion of the Deposit being held by the Landlord, the Tenant shall upon notification by the Landlord pay to the Landlord the amount required to reimburse it for the amount so applied. (g) If the Landlord has not drawn upon the Deposit in accordance with this section during the first 5 years of the Term, then the provisions of this Section 6.26 will cease to have effect, except that the Landlord shall, within 10 Business Days following the fifth anniversary of the Commencement Date, return the Deposit to the Tenant. (h) If section 6.26(g) is not applicable, then within 60 days following the expiration of this Lease, the Landlord shall refund to the Tenant any unused portion of the Deposit. (i) The Landlord will be discharged from any liability to the Tenant with respect to the Deposit if it is transferred to any purchaser of the Landlord’s interest in the Premises or Lease. The Tenant is responsible for any fees charged by the Issuing Institution in connection with any such transfer. (j) The Landlord is not required to pay interest to the Tenant on any part of the Deposit. (k) The provisions of this section shall be deemed to be a separate agreement distinct and independent of this Lease and which shall survive the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. Accordingly, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests rights of the Landlord to send under this section shall continue in full force and effect and shall not be waived, released, discharged, impaired or affected by reason of the Deposit (termination of this Lease by the Landlord or the balance disclaimer of itthis Lease in any bankruptcy or insolvency proceedings. (l) This Section 6.26 is deemed to an overseas bank account be a separate agreement distinct and independent of this Lease and which will survive the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. Accordingly, the rights of the Landlord shall under this Section 6.26 will continue in full force and effect and will not be entitled to deduct the sum of £20 from the Deposit to cover the cost waived, released, discharged, impaired or affected by reason of the banking fee and transfer fee incurred termination of this Lease or by the Landlord. If disclaimer of this Lease in any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancybankruptcy or insolvency proceedings.

Appears in 1 contract

Samples: Lease Agreement (SMART Technologies Inc.)

Deposit. 6.1 7.1 The sum of shall be paid to the Landlord upon the signing of this Agreement by way of a security deposit (“the Deposit”). 7.2 Upon the Tenant vacating the Premises and after deduction of all agreed or authorised deductions, the balance of the Deposit shall be refunded to the person or persons outlined at clause 7.1 above. 7.2.1 The Deposit will be paid into a tenancy deposit scheme held by the Deposit Protection Service (“DPS”). 7.3 The Landlord will register the Deposit within thirty days of the timescales laid out in commencement of the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“or receipt of the Regulations”). No interest shall be paid by the Landlord Deposit, whichever is earlier, and give to the Tenant for and to any Relevant Person a copy of the Prescribed Information together with details of the scheme applicable to the registration of the Deposit. 6.2 7.4 Any interest earned on the holding of the Deposit will belong to the Deposit Protection Service (“DPS”). 7.5 The Tenant agrees and acknowledges Deposit has been taken for the following purposes: 7.5.1 Any fees or other monies that the Landlord will be is entitled to retain sums recover from the Deposit at Tenant under the terms of this agreement. 7.5.2 Any rent or other money due or payable by the Tenant under the Tenancy of which the Tenant has been made aware and which remains unpaid after the end of this tenancy agreement in respect of:the Tenancy. This will include a fee which any Landlord is entitled to recover from the Tenant. 6.2.1 7.5.3 Any damage, or compensation for damage, to the Accommodation Premises, its fixtures and a share of any damage fittings, or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each each, and any such item at the start commencement of the Tenancy Periodtenancy, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Landlord. 6.2.2 7.5.4 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's ’s obligations in this tenancy agreementunder the Agreement, including those relating to the cleaning of the Accommodation Premises and the Common Parts its fixtures and their respective Contentsfittings, and contents, and its reasonable legal costs. 6.2.3 7.5.5 Any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Concurrently with Tenant's execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in sum of Eighty-Seven Thousand Five Hundred Dollars ($87,500.00), which sum (the Tenancy Deposit Schemes (Scotland"Security Deposit") Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant's failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord's option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant's interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Premises. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the TenantLandlord's obligations interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Section to Landlord's and Agent's proper and reasonable costs successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Build to Suit Lease (Probusiness Services Inc)

Deposit. 6.1 7.1 The sum of [ - ] shall be paid by (name and address of deposit payer or delete if it is just the tenants) (‘The Relevant Person’) to the Landlord / Agent upon signing of this Agreement by way of a Security Deposit (‘the Deposit’). 7.2 Upon the Tenant vacating the Premises and after the deduction of all agreed or authorised deductions, the balance of the deposit shall be refunded to the person or persons outlined at clause 7.1 above. 7.2.1 The Deposit will be paid into held by the Agent as Stakeholder. The Agent is a tenancy deposit scheme within the timescales laid out in member of the Tenancy Deposit Schemes Scheme (Scotland‘TDS Insured’) Regulations 2011 (“the Regulations”). No interest shall be paid operated by the Landlord The Dispute Service (‘TDS’). 7.3 The Landlord’s Agent will protect the Deposit within 30 days of the commencement of the Tenancy or receipt of the Deposit, whichever is earlier, and give to the Tenant for and to any Relevant Person a copy of the Prescribed Information together with the details of the scheme applicable to the registration of the Deposit. 6.2 7.4 Any interest earned on the holding of the Deposit will belong to the Agent. 7.5 The Tenant agrees and acknowledges Deposit has been taken for the following purposes: 7.5.1 Any fees or monies that the Landlord will be Agent is entitled to retain sums recover from the Deposit at Tenant pursuant to the Agreement. 7.5.2 Any rent or other money due or payable by the Tenant under the Tenancy and which remains unpaid after the end of this tenancy agreement in respect of:the Tenancy. This will include any fee which the Agent is entitled to recover from the Tenant. 6.2.1 7.5.3 Any damage, or compensation for damage, to the Accommodation Premises, its Fixtures and a share of any damage Fittings, or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs 7.5.4 Costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of or the Tenant's ’s obligations in this tenancy agreementunder the Agreement, including those relating to the cleaning of the Accommodation Premises and the Common Parts its Fixtures and their respective ContentsFittings, and contents. 6.2.3 7.5.5 Any unpaid accounts for utilities or water charges or environments services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 7.5.6 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in the terms of this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyAgreement.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 Subject to a deposit being paid, the landlord agrees that he shall provide the tenant with a receipt for the amount of the deposit paid. The Deposit will be paid into a tenancy Landlord agrees as soon as reasonable after the tenant has vacated the let property, the Landlord shall account to the tenant for such part of the deposit scheme within as the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by Landlord deems fair to enable the Landlord to make good any breaches and or non-compliance by the Tenant tenant with his obligation hereunder and to pay all costs, charges and expenses incurred in connection therewith. The Landlord shall account for any balance of such sum to the tenant. 4.1.1 Upon signing this tenancy, if a Deposit has been paid to the Landlord (letting agent if applicable), the Deposit shall act as security for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 : Any damage, rent or compensation for damage, to other payments from the Accommodation and a share of any damage or compensation for Tenant remain unpaid. Any damage to the Common Parts and their respective Contents Property or the items listed in the Inventory for which the Tenant may be liable. Any unpaid accounts for council tax, subject to an apportionment gas, electricity, fuel oil, or allowance for fair wear and tearwater consumed by the Tenant in the Property, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major unpaid telephone charges. Any other breach by the Tenant of the Tenant's agreements and obligations in under this tenancy agreement, including those relating tenancy. Any sum repayable by the Landlord to the cleaning Local Authority where housing benefits have been paid directly to the Landlord. Any costs, expenses, charges, or other monies payable by the Tenant to the Landlord under this tenancy; and any reasonable costs incurred by the Landlord due to any cheque of the Accommodation Tenant which does not clear, or in respect of any reasonable costs incurred by the Landlord by reason of any letter being sent to the Tenant 7 | P a g e Tenants Signature______________________ due to rent arrears or any other breach of the Tenant's obligations under this tenancy. The tenant shall pay the landlord's legal costs for any breaches the tenant has breached, and the Common Parts and their respective Contentslandlord is compelled to defend or rectify. 6.2.3 Any unpaid accounts for utilities 4.1.2 If the Landlord applies the Deposit, or other similar services or Council Tax incurred any part of it, as authorised above, The Tenant must, at the Accommodation Landlord's written request, pay the Landlord a further sum to restore the Deposit to the full amount stated in the Tenancy Particulars. 4.1.3 Subject to the relevant clauses, the Landlord must return the Deposit or the balance of it to the Tenant as soon as reasonably practicable after the tenant has conveyed vacant possession of the let property to the Landlord. Before the Landlord returns the Deposit, the Tenant must demonstrate that bills for council tax, gas, electricity, fuel oil, water, and telephone charges for which the Tenant is liableliable to pay during the Term have been paid. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of 4.1.4 The Landlord may retain any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of interest earned on the Deposit, if any, . The Tenant will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from not use the Deposit to cover offset any rent payable under the cost terms of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the this tenancy.

Appears in 1 contract

Samples: Tenancy Agreement

Deposit. 6.1 (a) The Deposit will be paid into a Tenant must pay the £300 refundable tenancy deposit scheme within to the timescales laid Landlord as set out in the Tenancy Deposit Schemes payment schedule as security towards the discharge or part discharge of any liability referred to in sub- clause (Scotlandc) Regulations 2011 and subject to this is to be held on trust for the Tenant absolutely. (“the Regulations”). No interest b) The refundable tenancy deposit shall be paid by held on the Landlord terms of a deposit protection scheme established under to the Housing Xxx 0000 Section 212 ('the Scheme') the details of which will be notified to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start commencement of the Tenancy Period, save and the parties agree that any provisions of the Scheme which need to be incorporated into the Tenancy will be incorporated herein on notification to the Tenant of those provisions. The Landlord shall comply promptly with his obligations under the Scheme. (c) The following sums may be paid out of the Deposit may not be used to the Landlord in respect of damage by insured risks and repairs that are accordance with the responsibility terms of the Landlord Scheme: (save i) any Rent or other payments due from the Tenant to the extent Landlord, including advance rent that the insurance has been invalidated due to the acts of the Tenant [or in respect of fallen due; (ii) any excess]). 6.2.2 The reasonable costs incurred in compensating sum the Landlord and/or the Agent for, expends or for rectifying or remedying, incurs in remedying any major breach failure by the Tenant of the Tenant's to comply with his obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid agreement; and (iii) after the end of the tenancy. 6.2.5 Any loss arising as a result Term, any sum owing to the Landlord equivalent to rent in respect of any breach period of unauthorised occupation by the Tenant or anyone under his control; (d) If the refundable tenancy deposit or part of their obligations it is applied as authorised by sub-clause (c) and in this tenancy agreement (including accordance with the terms of the Scheme, the Tenant must, at the Landlord's and Agent's proper and reasonable costs of enforcing or attempting written request, pay the Landlord a further sum to enforce restore the Tenant's obligations Deposit to the agreed amount stated in the Particulars and the costs of instructing advisers)Landlord shall comply promptly with his obligations under the Scheme in relation to this further sum. 6.3 (e) Subject to Clauses 6.1 or 6.2 the Deposit or part provisions of sub-clause (d), the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (refundable tenancy deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to it must be returned at to the Tenant after the end of the tenancy, Term in accordance with the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start provisions of the tenancyScheme but any interest earned on the refundable tenancy deposit may be retained by the Landlord.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 7.1 The Lessee shall be obliged to pay to the Agent, upon signature of this Lease by both parties, the Deposit. This payment shall be made together with the payment referred to in clause 6.1 above. 7.2 The Agent shall forthwith invest the Deposit will in an interest bearing account with a recognised financial institution at the interest rate applicable to such account from time to time, which interest rate shall not be paid into less than the rate applicable to a tenancy deposit scheme within savings account at the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No financial institution and which interest shall be paid by the Landlord to the Tenant for the Depositbenefit of the Lessee. 6.2 7.3 The Tenant agrees Agent shall upon request from the Lessee provide such information about the Deposit and acknowledges that interest thereon which the Landlord will Lessee may require. 7.4 The Agent (acting on the Landlord’s instruction) shall be entitled to retain sums from apply the whole or any portion of such Deposit, plus accrued interest thereon, towards payment of any amount whatsoever for which the Lessee is liable in terms hereof, which shall include (but not be limited to) the repair/ re- instatement of the Premises, the replacement/ repair of any Inventory, the payment of any electricity, water, or telephone costs and/or any outstanding Rental. 7.5 If the whole or any portion of such Deposit is so applied, the Agent shall be entitled to give written notice to the Lessee demanding that he/she reinstate the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share full amount, which the Lessee will immediately do. 7.6 If upon the termination of any damage or compensation for the Lease there is no damage to the Common Parts Premises and their respective Contents no monies owing to the Landlord by the Lessee, the full Deposit and interest shall be repaid to the Lessee within 14 Business Days of termination of the Lease. 7.7 If upon the termination of the Lease there is damage to the Premises for which the Tenant may be Lessee is liable, subject and the Lessee has failed to an apportionment or allowance for fair wear and tearrepair such damage at his own expense, and/or there are monies owing to the age and condition of each and any such item at Landlord by the start Lessee, then the balance of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Depositinterest, if any, will shall be refunded to the Tenant Lessee within 14 Business Days after the timescales as laid out restoration of the Premises and payment of all outstanding amounts due by the Lessee in the Regulations. Where the Tenant requests the Landlord terms hereof. 7.8 Receipts and details of all costs applied to send the Deposit (or the balance of it) to an overseas bank account by the Landlord shall be entitled available to deduct the sum of £20 from Lessee for inspection at the Deposit to cover the cost offices of the banking fee and transfer fee incurred by Agent. 7.9 The Lessee shall immediately increase the Landlord. If any amount of the Deposit held in terms hereof in the event of an escalation in the Rental, such that the Deposit shall always be an amount equivalent to 2 (two) months Rental. 7.10 The Deposit is due not to be returned at construed by the end Lessee as a limit of his liability in terms of the tenancy, Lease. 7.11 The Deposit may under no circumstances be used by the Landlord will pay the refund Lessee to the Tenant, irrespective of who paid the Deposit to the Landlord at the start offset any rental due in respect of the tenancyLease.

Appears in 1 contract

Samples: Lease Agreement

Deposit. 6.1 If Landlord has received Tenant Security from Tenant, Landlord shall hold the Tenant Security as security for the performance by Tenant of Tenant’s covenants and obligations under this Lease, it being expressly understood and agreed that the Tenant Security shall not be considered an advance payment of Rent or a measure of Landlord’s damages in case of default by Tenant. The Tenant Security shall be held by Landlord without liability to Tenant for interest, and Landlord may commingle such deposit with any other funds held by Landlord (subject to Applicable Security Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”Laws). No interest shall be paid Upon the occurrence of any Event of Default by the Tenant, Landlord may, from time to time, without prejudice to any other remedy, apply the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save Security to the extent that the insurance has been invalidated due necessary to the acts make good any arrears of Base Rent, Additional Rent, and any other payment, damage, injury, expense or liability caused to Landlord by such Event of Default by Tenant. Following any application of the Tenant [or Security, Tenant shall pay to Landlord within five (5) days of demand the amount so applied in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating order to restore the Tenant Security to the amount thereof immediately prior to such application. Subject to the requirements of, and conditions imposed by Applicable Security Deposit Laws, Landlord and/or shall, within the Agent fortime required by Applicable Security Deposit Laws, or for rectifying if no such requirement exists, within twenty-five (25) business days after the expiration of the Term of this Lease (or remedyingthe earlier termination of this Lease), any major breach by return to Tenant the portion (if any) of the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation Security remaining after deducting all damages and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant losses that Landlord has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising suffered as a result of any breach Event of Default by the Tenant of their obligations in under this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyLease.

Appears in 1 contract

Samples: Data Center Lease (Rhodium Enterprises, Inc.)

Deposit. 6.1 a. If not paid prior to the date hereof the Tenant agrees to pay the Deposit to the Landlord on the date of this agreement. b. The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest Landlord shall be paid by the Landlord entitled at any time to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums deduct from the Deposit at such proportion (up to 100%) of the end of this tenancy agreement in respect of:Deposit as may be reasonably necessary to rectify 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of (i) making good any damage or compensation for damage to the Common Parts and their respective Property or the Contents for which the Tenant may be liable, subject to an apportionment or allowance (except for fair wear and tear, the age and condition of each and ); (ii) replacing any such item at the start of the Tenancy Period, save that Contents which may be missing from the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord Property or damaged beyond repair; (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of iii) paying any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees outstanding Rent or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the date on which this payment was due; (iv) paying for the Property and the Contents to be cleaned (if the Tenant is in breach of his/her obligations under this agreement); (v) removing and disposing of Tenant’s Items at the Property at the end of the tenancy.Term in accordance with clause 13 e; 6.2.5 Any loss arising (vi) paying any unpaid charges for any Utility Services, water charges or council tax incurred at the Property for which the Tenant is liable; and (vii) paying any legal or professional fees incurred by the Landlord as a result of any breach breaches by the Tenant of their obligations in the terms of this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations on a full indemnity basis, and the costs Landlord will notify the Tenant as soon as practicable of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 any such deduction made before the Deposit or part end of the Deposit, if any, will Term whereupon the Tenant shall be refunded obliged to pay to the Tenant within Landlord an amount equal to such deduction to replenish the timescales as laid out in the Regulations. Where Deposit. c. If the Tenant requests fails to vacate the Landlord to send Property at the Deposit end of the Term (or the balance as required by clause 13.c of itthis agreement) to an overseas bank account then the Landlord shall be entitled to deduct the sum of £20 from the Deposit such proportion (up to cover 100%) of the Deposit as may be reasonably necessary to pay any of the following: a) the cost of unpaid charges for council tax or Utility Services water charges or other similar services incurred at the banking fee and transfer fee Property in relation to the period after the Term but whilst the Tenant remained in occupation and b) an amount equal to the amount of rent which the Landlord could have charged if the Property had been let to another tenant from the day after the end of the Term onwards, calculated on a daily rate until the Tenant vacates the Property; and c) any legal or professional fees incurred by the Landlord. If Landlord in seeking possession of the Property on a full indemnity basis, including (without limitation) any court fees, bailiffs’ fees or solicitors’ fees. d. The balance (if any) of the Deposit is due to be returned remaining at the end of the tenancyTerm after deductions pursuant to clause 7.b above shall be refunded to the Tenant not later than four weeks after the end of the Term, except where either:- (i) the Tenant has failed to vacate the Property at the end of the Term as required by clause 13, in which case the balance of the Deposit (if any) will be refunded to the Tenant not later than four weeks after the Tenant fully vacates the Property and complies with the Tenant’s obligations under clause 13.d; or (ii) the Landlord and Tenant enter into a surrender agreement in relation to this agreement, in which case the Landlord will pay comply with the terms of that surrender agreement regarding the refund of the balance (if any) of the Deposit. e. The Tenant agrees that no interest is payable in regard to the Deposit, or any balance remaining after deductions. f. The Tenant agrees and acknowledges that the Rent must be paid in accordance with clause 6 of this agreement and the Tenant cannot require the Landlord to use the Deposit in lieu of any payment of Rent. g. The Landlord shall be entitled to refund any balance of the Deposit either equally to both parties forming the Tenant, irrespective or to one of who paid the parties forming the Tenant at its discretion. It will then be up to the parties forming the Tenant to decide how it will be divided amongst themselves8. h. In the event that the total amount lawfully due at the end of the tenancy exceeds the amount of the Deposit the Tenant shall reimburse the Landlord for the further amount within 14 days of the request being made. i. The Deposit is held pursuant to the Landlord at Universities UK Code of Practice for the start Management of Student Housing (sometimes known as the tenancy‘Accommodation Code of Practice’, or the ‘Student Accommodation Code’) a copy of which is available on the Universities UK website.

Appears in 1 contract

Samples: Tenancy Agreement

Deposit. 6.1 The (a) If the Basic Provisions indicate a Deposit, the Tenant shall pay the Deposit will be paid into a tenancy deposit scheme within the timescales laid out (in the Tenancy Deposit Schemes (Scotlandamount described in the Basic Provisions) Regulations 2011 (“the Regulations”). No interest shall be paid by to the Landlord to contemporaneously with the Tenant for the DepositTenant’s execution of this Lease. 6.2 (b) The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from shall apply the Deposit at in accordance with the end of this tenancy agreement in respect of:Basic Provisions. 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant (c) The Landlord may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that also use the Deposit may not be used in respect to secure the fulfilment of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant all of the Tenant's obligations in this tenancy agreement’s Covenants (including, including those relating to without limitation, the cleaning payment of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or all amounts payable by the Tenant under this tenancy agreement of Lease) and all damages and losses which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising Landlord may suffer or incur as a result of this Lease being terminated by the Landlord or disclaimed in any breach bankruptcy or insolvency proceedings relating to the Tenant or any assignee of the Tenant, including, without limitation, all amounts which would have been payable under this Lease but for such termination or disclaimer. Without limiting the generality of the foregoing, the Deposit shall secure and may, at the Landlord’s option, be applied on account of any one or more of the following: (i) unpaid Rent, including, without limitation, any amount which would have become payable under this Lease to the date of the expiry of this Lease had this Lease not been terminated or disclaimed in any bankruptcy or insolvency proceedings; (ii) the prompt and complete performance of all of the Tenant’s Covenants in addition to the payment of Rent; (iii) the indemnification of the Landlord for any losses, costs or damages incurred by the Landlord arising out of any failure by the Tenant to observe and perform any of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and ’s Covenants; (iv) the costs performance of instructing advisers)any obligation which the Tenant would have been obligated to perform to the date of the expiry of this Lease had this Lease not been terminated or disclaimed in any bankruptcy or insolvency proceedings; and 6.3 Subject to Clauses 6.1 (v) the losses or 6.2 damages suffered by the Deposit Landlord as a result of the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. (d) If the Landlord uses all or part of the DepositDeposit (except in accordance with section 4.6(b)), if anythe Tenant shall, within 3 Business Days following written demand being made by the Landlord, pay to the Landlord the amount required to reimburse it for the amount so applied by way of certified cheque or bank draft, failing which an Event of Default will be refunded deemed to have occurred. (e) Within 90 days following the expiration of this Lease, the Landlord shall refund to the Tenant within any portion of the timescales as laid out in Deposit not used by the Regulations. Where the Tenant requests Landlord after application by the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee any damage incurred by the Landlord. If any Landlord as a result of the Tenant failing to observe and perform the Tenant’s Covenants. For certainty, the provisions of this section shall survive the expiry of this Lease. (f) The Landlord will be discharged from any liability to the Tenant with respect to the Deposit if it is due transferred to any purchaser of the Landlord’s interest in the Premises or Lease. (g) The provisions of this section shall be deemed to be returned at a separate agreement distinct and independent of this Lease and which shall survive the end termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. Accordingly, the rights of the tenancyLandlord under this section shall continue in full force and effect and shall not be waived, released, discharged, impaired or affected by reason of the termination of this Lease by the Landlord or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. (h) The Landlord will not be required to pay the refund interest to the Tenant, irrespective of who paid the Deposit to the Landlord at the start Tenant on any part of the tenancyDeposit.

Appears in 1 contract

Samples: Lease Agreement (Ehave, Inc.)

Deposit. 6.1 The 3.1 [On the date of the tenancy the Tenant is to pay to the Landlord the Deposit which will be paid into a tenancy deposit scheme within held by the timescales laid [Landlord]/[Landlord's Agent] [delete as appropriate] upon the terms hereinafter set out in the and which shall be protected by The Tenancy Deposit Schemes (Scotland) Regulations 2011 (“Scheme in accordance with the Regulations”). No interest shall provisions of the Schedule hereto 3.2 The [Landlord]/[Landlord's Agent] must tell the Tenant within ten working days of the end of the tenancy if they propose to make a deduction from the Deposit 3.3 Before the [Landlord]/[Landlord's Agent] makes any deduction they must produce written consent to the deduction and obtain written consent to the deduction from the Tenant specifying the amount of the deduction and the agreed amount to be paid by returned to the Tenant 3.4 Subject to the provisions of clauses 3.1 and 3.9 the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit may at the end of this the tenancy agreement apply the whole or any part of the Deposit in respect ofor towards: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of (a) any damage or compensation for damage to the Common Parts Premises its fixtures and their respective Contents fittings or for missing items for which the Tenant may be liable, is liable subject to an apportionment or allowance for fair wear and tear, tear the age and condition of each and any such item at the start commencement of the Tenancy Period, save that the Deposit may not be used in respect of damage by tenancy insured risks and repairs that are the responsibility of the Landlord Landlord (save to b) the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, for or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's obligations in under clause 1 of this tenancy agreement, Agreement including those relating to the cleaning of the Accommodation premises its fixtures and the Common Parts and their respective Contents.fittings 6.2.3 Any (c) any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 Any Rent, Fees (d) any rent or other money due or payable by the Tenant under this tenancy agreement the Tenancy Agreement of which the Tenant has been made aware and which remains remain unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result 3.5 If the [Landlord]/[Landlord's Agent] does not propose to make any deductions from the Deposit the Landlord will repay the Deposit within ten working days of the end of the tenancy 3.6 The [Landlord][Landlord's Agent] shall make the payment of any breach by amount agreed under clause 3.2 within ten working days of the [Landlord]/[Landlord's Agent] and the Tenant agreeing the allocation of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part and for the avoidance of doubt the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord [Landlord][Landlord's Agent] shall be entitled to deduct keep the sum Deposit if this was agreed in accordance with clause 3.2 3.7 The Tenant should try to inform the [Landlord]/[Landlord's Agent] in writing if the Tenant intends to dispute any of £20 the deductions regarded by the [Landlord][Landlord's Agent] as due from the Deposit to cover within 20 working days after the cost termination or earlier ending of the banking fee tenancy and transfer fee incurred by the LandlordTenant vacating the Premises. The ICE may regard failure to comply with the time limit as a breach of the rules of The Tenancy Deposit Scheme and if the ICE is later asked to resolve any dispute may refuse to adjudicate in the matter 3.8 If after ten working days following notification of a dispute to the [Landlord]/[Landlord's Agent] and reasonable attempts having been made in that time to resolve any differences of opinion there remains an unresolved dispute between the [Landlord]/[Landlord's Agent] and the Tenant over the allocation of the Deposit is due the dispute will be submitted to be returned the ICE for adjudication. All parties to this Agreement agree to co-operate with the adjudication. There being multiple tenants each of them agrees with the other(s) that any one of them may consent on behalf of all the others to use the alternative dispute resolution through a tenancy deposit protection scheme to deal with any dispute about the deposit at the end of the tenancy, 3.9 The statutory rights of the Landlord will pay and the refund Tenant to take legal action through the Tenant, irrespective County Court remain unaffected by clause 3.7 above 3.10 Neither the taking of who paid the Deposit hereunder nor the application of the said Deposit in whole or in part shall in any way prejudice or affect the Landlord's rights of action or other remedies (including the right to forfeit this tenancy) against the Tenant for the recovery of any rent or rents or any other monies damages costs or expenses due to the Landlord at the start in respect of any breach of covenant or other wrongful act of the tenancy.Tenant

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 (a) Concurrently with Tenant’s execution of this Lease, Tenant shall deposit with Landlord the sum of Two Million Two Hundred Seventy Thousand Four Hundred Thirty and No/100 Dollars ($2,270,430.00), which sum (the “Security Deposit”) shall be held by Landlord as security for the faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and Tenant’s failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep any deposit under this Section separate from Landlord’s general funds, and Tenant shall not be entitled to interest thereon. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Security Deposit, or any balance thereof, shall be returned to Tenant or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder, at the expiration of the term of this Lease and after Tenant has vacated the Property. In the event of termination of Landlord’s interest in this Lease, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of such deposit or the accounting thereof. (b) As an alternative to the cash Security Deposit described in Section 20.1(a), Tenant may instead deliver to Landlord, within ten (10) days after mutual execution of this Lease, an irrevocable standby letter of credit (the “Letter of Credit”) issued in favor of Landlord by a federally insured commercial bank or trust company approved in writing by Landlord (which approval shall not be unreasonably withheld), in form and substance reasonably satisfactory to Landlord, to be held by Landlord as security for the faithful performance of all the obligations of Tenant under this Lease, subject to the following terms and conditions: (i) The amount of the Letter of Credit shall be at least Two Million Two Hundred Seventy Thousand Four Hundred Thirty and No/100 Dollars ($2,270,430.00), and Tenant shall maintain the Letter of Credit in that amount in full force and effect throughout the term of this Lease (including any extensions thereof) and until thirty (30) days after the expiration of the term of this Lease, unless Tenant elects at any time to replace the Letter of Credit with a full cash Security Deposit in compliance with Section 20.1(a). The Letter of Credit may be for an initial one-year term, with automatic renewal provisions, provided that Landlord shall be given at least thirty (30) days prior written notice if the Letter of Credit will not be paid into renewed as of any otherwise applicable renewal date and shall be entitled to draw against the expiring Letter of Credit if a tenancy deposit scheme within replacement Letter of Credit is not furnished to Landlord at least twenty (20) days prior to the timescales laid out scheduled expiration date, as provided in Section 20.1(b)(iii)(A) below. (ii) Landlord shall be entitled (but shall not be required) to draw against the Letter of Credit and receive and retain the proceeds thereof upon any default by Tenant in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall payment of any rent or other amounts required to be paid by Tenant under this Lease, or upon the occurrence of any other Event of Default under this Lease. The amount of the draw shall not exceed the amount of the payments (if any) as to which Tenant is then in default and/or the amount reasonably necessary to cure any non-monetary Events of Default by Tenant, and shall be applied by Landlord to the cure of the applicable default(s). Following any partial draw under this paragraph (ii), if Tenant for fully cures all outstanding defaults and provides Landlord with a new Letter of Credit in the Depositfull required amount under this Section 20.1(b), Landlord shall surrender and return to Tenant, within ten (10) days after Tenant’s satisfaction of the foregoing conditions, the Letter of Credit under which the partial draw was made, and any unapplied cash drawn under such Letter of Credit. 6.2 The Tenant agrees and acknowledges that the (iii) Landlord will shall also be entitled (but shall not be required) to retain sums from draw against the Deposit at Letter of Credit in full and to receive the end entire proceeds thereof under either of the following circumstances: (A) If the Letter of Credit will expire as of a date prior to the date thirty (30) days after the expiration of the term of this tenancy agreement Lease and Tenant fails to provide to Landlord an extension or replacement of such Letter of Credit, in respect of: 6.2.1 Any damageat least the minimum amount required under this Section 20.1(b), or compensation for damage, at least twenty (20) days prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start scheduled expiration date of the Tenancy PeriodLetter of Credit; or (B) If, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of a draw against the Letter of Credit by Landlord or for any breach other reason, the amount of the Letter of Credit falls below the minimum amount required to be maintained from time to time pursuant to this Section 20.1(b) and Tenant has failed to cause the Letter of Credit to be restored to at least the minimum required amount within ten (10) days after written demand by Landlord. Landlord shall return any unapplied cash to Tenant upon receipt a new Letter of Credit in the full amount required by the Tenant terms of their obligations the Lease. (iv) If Landlord draws against the Letter of Credit in this tenancy agreement any of the circumstances described in subparagraph (including the Landlord's and Agent's proper and reasonable costs of enforcing iii) above, Landlord shall use, apply and/or retain all or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or any part of the Deposit, if any, will be refunded to amount drawn for the Tenant within the timescales as laid out in the Regulationscure of any then existing defaults under this Lease. Where the Tenant requests the Landlord to send the Deposit (Any amount drawn that is not immediately so used or the balance of it) to an overseas bank account the applied by Landlord shall be entitled retained by Landlord as a cash security deposit, subject to deduct and in accordance with the sum provisions of £20 from the Deposit to cover the cost Section 20.1(a). (v) Any actual or purported withdrawal, rescission, termination or revocation of the banking fee and transfer fee incurred Letter of Credit by the Landlord. If any issuer thereof prior to the expiration of the Deposit is due to be returned at the end term of the tenancy, the Landlord will pay the refund this Lease (except when replaced prior to the Tenanteffectiveness of such withdrawal, irrespective rescission, termination or revocation by a replacement Letter of who paid the Deposit to the Landlord at the start Credit as contemplated in Section 20.1(b)(iii)(A) hereof) shall be a material breach of the tenancythis Lease.

Appears in 1 contract

Samples: Sub Sublease (Assembly Biosciences, Inc.)

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest sum of £ shall be paid by the Landlord Tenant or Relevant Person to the Tenant for Landlord/Agent upon the signing of this Agreement by way of a security Deposit (‘the Deposit’). 6.2 The Tenant agrees is not permitted to set the Deposit off against the rent. 6.3 Upon the Tenant vacating the Premises and acknowledges that after deduction of all agreed or authorised deductions, the Landlord balance of the Deposit shall be refunded to the person or persons outlined at clause 6.1 above. 6.3.1 The Deposit will be entitled to retain sums from held by the Agent as Stakeholder. The Agent is a member of the Tenancy Deposit Scheme (‘TDS Insured’) operated by The Dispute Service (‘TDS’). 6.4 The Landlord’s Agent will protect the Deposit at within 30 days of the end commencement of this tenancy agreement in respect ofthe Tenancy or receipt of the Deposit, whichever is earlier, and give to the Tenant and to any Relevant Person a copy of the Prescribed Information together with details of the scheme applicable to the registration of the Deposit. 6.5 Any interest earned on the holding of the Deposit will belong to the Agent. 6.6 The Deposit has been taken for the following purposes: 6.2.1 6.6.1 Any damage, or compensation for damage, to the Accommodation Premises, its Fixtures and a share of any damage Fittings, or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each each, and any such item at the start commencement of the Tenancy PeriodTenancy, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Landlord. 6.2.2 6.6.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, remedying any major breach by the Tenant of the Tenant's ’s obligations in this tenancy agreementunder the Agreement, including those relating to the cleaning of the Accommodation Premises and the Common Parts its Fixtures and their respective ContentsFittings, and contents. 6.2.3 6.6.3 Any unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Accommodation Premises for which the Tenant is liable. 6.2.4 6.6.4 Any Rent, Fees rent or other money due or payable by the Tenant under this tenancy agreement the Tenancy of which the Tenant has been made aware and which remains unpaid after the end of the tenancyTenancy. This will include a fee which any Agent is entitled to recover from the Tenant. 6.2.5 6.6.5 Any loss arising as a result of any breach by unpaid accounts for utilities or water charges or environmental services or other similar services or Council Tax incurred at the Premises for which the Tenant is liable. 6.6.6 Any fees or other monies that the Agent is entitled to recover from the Tenant. 6.7 Protection of their obligations in this tenancy agreement (including the Deposit: Tenancy Deposit Scheme The Dispute Service Ltd 0Xxx Xxxxxxxxxxx Xxxxxx 00 Xxxx Xxxx Hemel Hempstead Hertfordshire HP2 7DW Phone: 0000 000 0000 Email: xxxxxxxx@xxxxxxxxxxxxxxxxxxxx.xxx Website: xxx.xxxxxxxxxxxxxxxxxxxx.xxx 6.8 At the end of the Tenancy: 6.8.1 The Landlord/Agent must tell the Tenant within ten working days of the end of the Tenancy if they propose to make any deductions from the Deposit. 6.8.2 If there is no dispute the Landlord's and Agent's proper and reasonable costs of enforcing /Agent will keep or attempting repay the Deposit, according to enforce the Tenant's obligations agreed deductions and the costs conditions of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Agreement. Payment of the Deposit or part any balance of it will be made within ten working days of the Landlord and the Tenant agreeing the allocation of the Deposit. 6.8.3 In the event of multiple Tenants comprising the Tenant, if anyeach of them agrees with the other(s) that any one of them may consent on behalf of all the others to use alternative dispute resolution through the TDS to deal with any dispute about the Deposit at the end of the Tenancy. 6.8.4 If, will be refunded after ten working days following notification of a dispute to the Tenant within Landlord/Agent and reasonable attempts having been made in that time to resolve any differences of opinion, there remains an unresolved dispute between the timescales as laid out in the Regulations. Where Landlord and the Tenant requests over the allocation of the Deposit the dispute will (subject to 6.8.5 below) be submitted to the TDS for adjudication. All parties agree to co-operate with the adjudication process. 6.8.5 The rights of the Landlord, the Agent and of the Tenant to take legal action through the County Court remain unaffected by clause 6.8.4 above. 6.9 If there is a change of Landlord during the Tenancy, the Tenant shall consent to send the transfer of the amount of the Deposit (or the balance of it) to an overseas bank account the purchaser or transferee of the Premises at which point the Landlord shall be released from any further claim or liability in respect of the Deposit or any part of it, recognising that the Deposit is held and will continue to be held by the TDS. 6.10 The Landlord shall not be obliged to refund the Deposit or any part of the Deposit on any change in the person or persons who for the time being comprise ‘the Tenant’. 6.11 Where more than one person is comprised for the time being in the expression 'the Tenant', the Deposit may be repaid to any one Tenant and this repayment shall discharge the Landlord from any further liability in respect of the amount so repaid. 6.12 Any goods or personal effects belonging to the Tenant or members of the Tenant’s household which shall not have been removed from the Premises within 14 days after the expiry or sooner, termination of the Tenancy created by this Agreement shall be deemed to have been abandoned provided that the Landlord shall have used his reasonable endeavours to give written notice of the same to the Tenant. In such circumstances the Landlord shall be entitled to deduct dispose of such abandoned goods or personal effects as he shall see fit. The Tenant shall in any event indemnify the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee Landlord for any costs incurred by the Landlord. If any Landlord in connection with the removal, storage or sale of the Deposit is due to be returned at the end such items. 6.12.1 The Tenant shall pay by way of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit damages to the Landlord at any additional expenses which the start Landlord shall have reasonably incurred in checking the Inventory and Schedule of Condition if the tenancysame could not reasonably be finalised until any goods or personal effects belonging to the Tenant have been removed from the Premises.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within (a) Vendor acknowledges the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid receipt, by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damageVendor’s Counsel, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is paid by Purchaser, that represents a genuine estimate by the Parties of the damages that Vendor will suffer should Purchaser wrongfully fail to close the transaction contemplated by this Agreement, having regard to such matters as the nature of the Assets, the size of the Adjusted Purchase Price, the amount of time between the date hereof and the Closing Time and the time and expense to be incurred by Vendor. The Deposit shall be invested by Vendor’s Counsel in an interest bearing trust account and held by Vendor’s Counsel pursuant to the provisions of the Deposit Escrow Agreement and disbursed in accordance with the provisions of this Agreement and the Deposit Escrow Agreement. (b) If Closing occurs at the Closing Time the Parties shall irrevocably direct Vendor’s Counsel to pay the Deposit and the Deposit Interest to Vendor, and the Deposit and Deposit Interest shall be applied towards the Adjusted Purchase Price; and (c) If Closing does not occur due to a Purchaser Default, the Parties shall irrevocably direct Vendor’s Solicitors to pay the Deposit and the Deposit Interest to Vendor, and the Deposit and the Deposit Interest shall be returned at the end forfeited by Purchaser as a genuine pre-estimate of the tenancyliquidated damages resulting from Closing not occurring. Upon such forfeiture, neither Vendor nor Purchaser shall have any further liabilities or obligations to the other Parties hereunder, excepting only confidentiality obligations pursuant to Section 11.4 hereof. (d) If Closing does not occur for any reason or circumstance other than a Purchaser Default, the Landlord will Parties shall irrevocably direct Vendor’s Solicitors to forthwith pay the refund to the Tenant, irrespective of who paid Deposit and the Deposit Interest to Purchaser for the Landlord at the start account of the tenancyPurchaser.

Appears in 1 contract

Samples: Purchase and Sale Agreement (FRANCO NEVADA Corp)

Deposit. 6.1 5.1 The Deposit will be paid into Tenant shall pay to the Landlord upon the date of this Agreement a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 of £ (“the RegulationsDeposit). No interest shall ) to be paid by to the Landlord’s agent (Xxxxxxx Xxxxx trading as Aston Properties of 00 Xxx Xxxx, Xxxxxxxxxx, Xxxxx XX0 0XX (the Agent which includes any successor agent) which the Landlord to acknowledges receipt of. 5.2 The Tenant warrants that where the Deposit has been paid/contributed towards by a third party on behalf of the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that has completed the Landlord will be entitled to retain sums from the Deposit information at the end of this Agreement giving the details of the third party/parties BUT unless these details are completed no one beside the Tenant has paid/contributed towards the Deposit . 5.3 The Agent is a member of the Tenancy Deposit Scheme. 5.4 If the Property is sold or where the Agent manages the Property if he ceases to manage it the Agent may pay the Deposit to a person who is a member of the Tenancy Deposit Scheme (“TDS”) (operated by the Dispute Service) or to arrange to protect it under one of the other authorised tenancy agreement in respect ofdeposit schemes r. 5.5 At the end of the Tenancy, the Landlord shall be entitled to withhold from the Deposit the whole or such proportion of the Deposit as may be reasonably necessary to: 6.2.1 Any damage, or compensation for damage, to 5.5.1 Pay any rent which remains unpaid; 5.5.2 the Accommodation and a share reasonable cost of making good any damage or compensation for damage to the Common Parts Property or the Fixtures and their respective Contents Fittings (except for fair wear and tear); 5.5.3 The reasonable cost of replacing any of the Fixtures and Fittings which may be missing from the Property or which may be damaged (reasonable allowance being made for fair wear and tear); 5.5.4 pay any accounts for utilities, Council tax charges or any other taxes or accounts for which the Tenant may be liable, subject which remain unpaid; The Landlord is authorised to an apportionment or allowance for fair wear and tear, the age and condition of each and pay any such item at outstanding accounts 5.5.5 Paying the start reasonable costs and other expenses the Tenant is responsible for under the terms of this Agreement. 5.5.6 Reasonable compensation for any other breach of the terms of this Agreement. 5.6 Any interest earned on the Deposit will belong to the Agent. 5.7 Without prejudice the other sub-clauses of this Clause the Deposit shall be returned to the Tenant after the Tenant has vacated the Property, following the expiration or determination of the Tenancy Periodbut after deducting all such rent monies, save that the Deposit may not be used loss expenses and sums referred to in respect of damage by insured risks and repairs that are the responsibility of the Landlord sub-clause 5.5 (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]if any). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which 5.8 Where the Tenant has been made aware and which remains unpaid after in receipt of housing benefit if at any time during the end Term this has been paid direct to the Landlord by the Local Authority, the Landlord reserves the right to withhold the Deposit until such time as the Landlord is satisfied that no part of such benefits are repayable to the tenancylocal authority. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 5.9 Wherever it is practical the Deposit or part of the Deposit, if any, will be refunded returned to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests Responsible Person but (a) the Landlord to send may return the Deposit (or the balance of it) the Deposit), to an overseas bank account any person named as the Tenant and whether the Landlord has returned to the Responsible Person or any other person named as a Tenant the Landlord shall be entitled under no obligation to deduct any of the sum others named as Tenant in doing so. 5.10 The Landlord reserves the right to withhold the Deposit until the Tenant has paid for all the costs in full in respect of £20 water, gas, electricity, and telephone for the Property and the Council Tax and the Tenant has delivered all final bills receipted as paid together with proof of payment or exemption for Council Tax to the Agent together with the deposit return form supplied by the Agent. This shall not apply to any service or utility which is included in the rent (see Clause 3). 5.11 Where a dispute regarding the Deposit is referred to adjudication any person named as Tenant who is not party to the adjudication consents to the adjudication 5.12 Deposit returns will be considerably delayed if remedial work is required to the Property caused by the acts or omissions of the Tenant. 5.13 The Deposit cannot be used by the Tenant in lieu of rent. 5.14 All rooms within the Property are the joint responsibility of all the tenants to the Tenancy. Any deductions from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to will be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyon a joint basis.

Appears in 1 contract

Samples: Joint Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into (a) On or before August 1, 2017, Tenant shall deliver to Landlord a tenancy deposit scheme within the timescales laid out letter of credit in the Tenancy Deposit Schemes amount specified in the summary of Basic Lease Terms preceding this Lease and in the form and otherwise in compliance with Exhibit F, the provisions of which are incorporated herein. If Landlord does not receive the letter of credit on or before August 31, 2017, then Tenant shall pay to Landlord an additional sum equal to $500.00 per day from and including August 31, 2017 to and including the date the letter of credit is delivered. By their execution of this Lease, Landlord and Tenant confirm that such late charge represents a fair and reasonable estimate of the administrative and other costs that Landlord will incur by reason of any such late delivery, that the late charge is in addition to any and all remedies available to Landlord, and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or of any other default under this Lease. (Scotlandb) Regulations 2011 The following provisions of this Section 21.2 apply to any cash drawn from the letter of credit that Landlord elects to hold as a cash deposit (the the RegulationsSecurity Deposit”). (c) If Tenant defaults with respect to any provision of this Lease, Landlord may use, apply or retain all or any portion of the Security Deposit for the payment of any sum to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage that Landlord may suffer thereby. No interest shall be paid by If Landlord so uses or applies all or any portion of the Security Deposit, Tenant shall, within ten (10) days after written demand therefor from Landlord, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the full amount stated in this Section 21.2. If Tenant for performs all of Tenant’s obligations hereunder, Landlord shall return the Deposit. 6.2 The Security Deposit (or so much thereof as has not theretofore been applied by Landlord as permitted under this Section 21.2) within thirty (30) days following the date of expiration of the Lease Term or the date on which Tenant agrees has vacated the Premises. Landlord shall not be required to keep the Security Deposit separate from its general funds, and acknowledges that the Landlord will Tenant shall not be entitled to retain sums from interest on the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Security Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct deliver the sum funds constituting the Security Deposit hereunder to any purchaser of £20 Landlord’s interest in the Premises, whether by sale, foreclosure, deed in lieu of foreclosure, or otherwise, and upon such delivery, Landlord shall be discharged from any further liability with respect to the Deposit to cover the cost Security Deposit. If Landlord transfers this Lease (as part of a transfer of the banking fee and transfer fee incurred by Project or otherwise), then Landlord shall be relieved of all liability to Tenant arising or accruing after the Landlord. If any date of such transfer, provided the Security Deposit is due transferred to be returned at the end of the tenancy, the Landlord will pay the refund said transferee. Tenant shall look solely to the Tenant, irrespective transferee for return of who paid any Security Deposit. Tenant hereby grants Landlord a security interest in the Deposit to the Landlord at the start of the tenancySecurity Deposit.

Appears in 1 contract

Samples: Office Lease Agreement (ACON S2 Acquisition Corp.)

Deposit. 6.1 The Deposit will be paid into Tenant is obliged to consign a tenancy monetary deposit scheme within the timescales laid out (caution) in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“amount of 5.000 CZK within 5 workdays after the Regulations”). No interest shall be paid by handover of the Subject of the lease in cash to the Landlord or via bank transfer to a bank account no. 450159000/2700. The Parties have agreed that the Tenant is not entitled to any interest of the consigned deposit and that all interests of the consigned deposit belong to the Landlord. The Landlord is entitled to set-off any claim pertinent to this Agreement or any claim against the Tenant against the deposit. In case of a set-off of the Landlord’s claim, the Tenant is obliged to replenish the deposit to the original amount without undue delay on Landlord’s request. Handover of the Subject of the lease and Movables Unless the Parties agree otherwise, they undertake to handover the Subject of the lease and the Movables within 5 workdays from the beginning of the duration of the lease. The Parties shall agree on specific date and time of the handover. Should the Parties not agree, the Landlord shall unliterary set the date and time of the handover. Should the Tenant be absent at the handover, the Subject of the lease and Movables are considered to be handed over to the Tenant at the moment the handover was to be carried out in accordance with this Agreement. On the handover, the Parties shall draw up a handover protocol that shall list (in particular) the Movables, eventual defaults of the Subject of the lease or of the Movables, and readings on the measuring instruments in the Subject of the lease. Should the Tenant be absent at the handover duly conducted in accordance with this Agreement, the Landlord is entitled to draw up the handover protocol by itself. Other rights and obligations of the Parties The Tenant hereby undertakes: to use the Subject of the lease in accordance with the Agreement and the applicable law; to comply with the Operational Rules of the Property (attachment no. 2 of this Agreement), and the Rules of Use of Computer Network and Internet Connection in JIC Incubators (attachment no. 4 of this Agreement); to carry out regular maintenance and diminutive repairs of the Subject of the lease at his own expenses; for the Deposit. 6.2 The Tenant agrees purpose of specification of the regular maintenance and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and teardiminutive repairs, the age Government Regulation No. 308/2015 Coll., on the specification of regular maintenance and condition diminutive repairs connected with use of each and any such item at the start of the Tenancy Periodapartments, save that the Deposit may not shall be used in respect similar (excluding § 6 of damage by insured risks and repairs that are this regulation) with the responsibility of the Landlord (save to the extent exception that the insurance has been invalidated due diminutive repairs are considered to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover repairs where the cost of a single repair does not exceed 2.000 CZK; to carry out regular maintenance and diminutive repairs of the banking fee Movables; the diminutive repairs are considered to be repairs where the cost of a single repair does not exceed 2.000 CZK; to allow the Landlord an access to the Subject of the lease with the Tenant’s participation in the extent necessary for the purpose of control of the state of the Subject of the lease and transfer fee incurred the use of the Subject of the lease in accordance with this Agreement; to inform the Landlord of any defects of the Property or of the Subject of the lease which is to be repaired by the Landlord; to present the Landlord with a duly filled-out de minimis aid statement which is an attachment no. If any 3 of the Deposit is due to be returned this Agreement at the end conclusion of this Agreement; the tenancy, the Landlord will pay the refund Tenant declares and undertakes to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyensure that information in this statement is complete and true.

Appears in 1 contract

Samples: Business Premises Lease Agreement

Deposit. 6.1 The Tenant shall pay to the Landlord or the Managing Agent, on the signing of this Agreement, the Deposit which shall be transferred by the Managing Agent to TDS who will be paid into hold the Deposit in the Custodial Scheme as Stakeholder for the duration of the Tenancy. The Managing Agent is a tenancy deposit scheme within the timescales laid out in member of the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the DepositCustodial Scheme. 6.2 The Tenant agrees that if more than one person forms the Tenant the name of the Lead Tenant for the TDS will be provided to the Landlord or the Managing Agent within fourteen days of the Tenancy starting or the Deposit being taken, whichever is earlier. The Tenant agrees that the Lead Tenant is authorised to accept service of all documents relating to the Deposit from the TDS, the Landlord and acknowledges the Managing Agent on behalf of each person forming the Tenant. 6.3 After the end of the Tenancy, the Landlord or the Managing Agent on the Landlord’s behalf is entitled, with the written consent of the Landlord and the Tenant, to deduct from the Deposit any monies referred to in clause A6 of this Agreement. If more than one such deduction is to be made from the Deposit by the Landlord or the Managing Agent, monies will be deducted from the Deposit in the order listed in clause A6.6 of this Agreement. 6.4 After the end of the Tenancy, in the event of there being no proposed deductions to the Deposit, the Managing Agent on the Landlord’s behalf shall request TDS to return the Deposit to the Tenant within thirty days of the end of the Tenancy or any extension of it. 6.5 If the amount of monies that the Landlord or the Managing Agent is entitled to deduct from the Deposit exceeds the amount held as the Deposit, the Tenant shall pay that additional sum to the Landlord or the Managing Agent within fourteen days of the Tenant receiving a request for such sum in writing. 6.6 The Managing Agent, with the written consent of the Tenant, may request TDS to deduct monies from the Deposit to compensate the Landlord for losses caused for any or all of the following reasons: • any instalment of the Rent which is due but remains unpaid at the end of the Tenancy; • any damage to the Property and Fixtures and Fittings caused by the Tenant or arising from any breach of the terms of this Agreement by the Tenant; • any damage caused or cleaning required due to pets, animals, reptiles, birds, or fish occupying the Property (whether or not the Landlord consented to its presence); • any sum repayable by the Landlord or the Managing Agent to the local authority where housing benefit has been paid direct to the Landlord, or the Managing Agent; • any other breach by the Tenant of the terms of this Agreement; • any unpaid account or charge for water including sewerage and environmental charges, electricity gas telephone, Telecommunications charges, or other fuels; • any unpaid council tax. 6.7 After the end of the Tenancy, if there are proposed deductions to the Deposit: 6.7.1 The Managing Agent must tell the Tenant as soon as practicable after the end of the Tenancy if they propose to make any deductions from the Deposit. 6.7.2 The Deposit will be entitled returned to retain sums the Tenant by TDS within a reasonable timescale from all deductions being agreed between the Landlord and the Tenant except in case of dispute. Any dispute regarding deductions from the Deposit can be referred to the Alternative Dispute Resolution service of TDS up until ninety days after the end of the Tenancy. Protection of the Deposit The Deposit is safeguarded by the TDS, which is administered by: West Wing, First Floor, The Maylands Building, 000 Xxxxxxxx Xxxxxx, Xxxxx Xxxxxxxxx, XX0 0XX Telephone 0000 000 0000 Email xxxxxxxx@xxxxxxxxxxxxxxxxxxxx.xxx 6.8 The statutory rights of the Landlord and the Tenant to take legal action through the County Court remain unaffected by clauses A6.7 and A6.8 above. 6.9 Joint Consent to Adjudication Where there is more than one person forming the Tenant each person forming the Tenant agrees with the other that any one of them may consent on behalf of all the others to use alternative dispute resolution through the TDS to deal with any dispute about the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])Tenancy. 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy Within ten (10) days after mutual execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in sum of Five Hundred Fifty-Six Thousand One Hundred and No/100 Dollars ($556,100.00), which sum (the Tenancy Deposit Schemes (Scotland"Security Deposit") Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults (beyond any applicable cure period) with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant's failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end interest thereon. If Tenant fully and faithfully performs every provision of this tenancy agreement in respect of: 6.2.1 Any damageLease to be performed by it, the Security Deposit, or compensation for damageany balance thereof, shall be returned to Tenant or, at Landlord's option, to the Accommodation and a share last assignee of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liableTenant's interest hereunder, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start expiration of the Tenancy Period, save that term of this Lease and after Tenant has vacated the Deposit may not be used in respect Property. In the event of damage by insured risks and repairs that are the responsibility termination of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the TenantLandlord's obligations interest in this tenancy agreementLease, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable Landlord shall transfer all deposits then held by the Tenant Landlord under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Section to Landlord's and Agent's proper and reasonable costs successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (such deposit or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyaccounting thereof.

Appears in 1 contract

Samples: Build to Suit Lease (Rigel Pharmaceuticals Inc)

Deposit. 6.1 The Deposit will Tenant shall not be paid into a tenancy deposit scheme within entitled to withhold the timescales laid out in payment of any instalment of rent or any other monies payable under this Agreement of any part of the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“same on the Regulations”). No interest shall be paid by ground that the Landlord to the Tenant for has in his or his Agent’s possession monies in respect of the Deposit. 6.2 The Tenant agrees and acknowledges that shall pay to the Landlord will upon the signing of this Agreement £[ ] by way of a security deposit (“the Deposit”) for the Landlord in respect of:- 6.2.1 Any instalment of rent or any other monies payable under this Agreement, which may be entitled to retain sums from the Deposit due but which remain unpaid at the end of this tenancy agreement in respect of:the tenancy. 6.2.1 6.2.2 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts Premises or to the Fixtures and their respective Contents Fittings and effects for which the Tenant may be liable. 6.2.3 Any unpaid account or charge for water, subject to an apportionment electricity or allowance for fair wear and tear, gas or other fuels consumed by the age and condition of each Tenant in the Premises and any such item at the start of the Tenancy Periodunpaid telephone charges, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of but the Landlord (save in under no obligation to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])do so. 6.2.2 The reasonable costs incurred in compensating 6.2.4 Andy other breach on the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by part of the Tenant of the Tenant's ’s obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancyAgreement. 6.2.5 Any loss arising sum repayable by the Landlord to a local authority where housing benefits have been paid direct to the Landlord by the local authority. 6.2.6 Any damage caused or cleaning required as a result of any breach pets occupying the Premises either with or without the Landlord’s consent. 6.2.7 Any costs, expenses, charges or other monies payable by the Tenant of their obligations in to the Landlord under this tenancy agreement (including Agreement or any outstanding fees payable to the Landlord's . 6.2.8 The Landlord may at any time deduct from the Deposit any unpaid rent or other monies for any loss or expenses incurred or suffered by the Landlord or any sums expended by the Landlord arising out of any of the foregoing matters including reasonable legal and other professional fees. 6.2.9 The Landlord or the Landlord’s Agent may deduct from the Deposit at the termination or sooner termination of the tenancy any commission fees lost by the Agent as published in the Agent's proper ’s terms and conditions of business from time to time, or any reasonable costs incurred by the Agent or the Landlord through the early termination of enforcing or attempting to enforce the Tenant's obligations and tenancy by the costs of instructing advisers)tenant. 6.3 Subject Without prejudice to Clauses 6.1 or clauses 6.2 hereof the Deposit or part of the Deposit, if any, will shall be refunded returned to the Tenant within 30 days of the timescales as laid out Tenant’s departure from the Premises following the expiration or determination of the tenancy and the return of all keys to the Landlord but after deducting all such rent, monies, loss, expenses and sums referred to in clauses 6.2 above (if any) provided always that in the Regulations. Where event of such monies exceeding the amount then held by the Landlord for the Deposit the amount of such excess shall be paid by the Tenant requests to the Landlord within 14 days of written demand. The Deposit shall (if appropriate) be returned to send the Tenant by cheque addressed to the Tenant at his last known address. 6.4 If the Landlord shall sell or transfer the reversion immediately expectant upon determination of the tenancy the Landlord shall consent to the transfer of the amount of the Deposit (or the balance of itthereof) to an overseas bank account the purchaser or transferee of the same whereupon the Landlord shall be entitled released from any further claim or liability in respect of the Deposit or any part thereof. 6.5 In any case where the Landlord has the right to deduct the sum of £20 make a deduction from the Deposit in respect of more than one claim or deduction then the Landlord shall have the right to cover make such appropriation in such priority as he shall see fit. 6.6 The Deposit shall be places in a nominated Deposit account with interest accruing thereto. 6.7 The Landlord shall not be obliged to refund the cost Deposit or any part of the banking fee Deposit on any change in the person or persons who for the time being comprise “the Tenant”. 6.8 Where more than one person is comprised for the time being in the expression “the Tenant” the Deposit may be repaid to any one or more of such persons to the exclusion of the remaining tenant or tenants and transfer fee incurred such repayment shall discharge the Landlord from any further liability in respect of the amount so repaid. 6.9 If at any time during the tenancy (whether by reason of deduction made by the Landlord. If Landlord or for any other reason) the amount then held by the Landlord in respect of the Deposit is due to be returned at less than the end of the tenancy, sum stated in clause 6.2 above as amended by clause 7.10 below the Landlord will may require the Tenant to pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at such amount as is required to increase the start amount of the tenancyDeposit accordingly and the Tenant shall pay such amount within 14 days of written demand. 6.10 Any goods or personal effects belonging to the Tenant or members of the Tenant’s household which shall not have been removed from the Premises within 14 days after the expiry or sooner termination of the tenancy hereby created shall be deemed to have been abandoned and thereafter the Landlord can dispose of such goods as he deems appropriate. 6.11 In such circumstances the Tenant shall:- 6.11.1 Pay to the Landlord damages at a rate equivalent to the rent then payable for the Premises until either the Tenant or in default the Landlord shall have removed all such items from the Premises. 6.11.2 Pay to the Landlord any additional expenses incurred by the Landlord in checking the said Inventory and Schedule of Condition which can not be finalised until all goods belonging to the Tenant or members of his household have been removed.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 At the date of entry or before, a deposit of £397.54 will be paid by the Tenant to the Landlord or his agents. The Deposit Landlord or his agent will issue a receipt for the deposit to the Tenant. No interest shall be paid by the Landlord to the Tenant for the deposit. 5.1 The deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the Deposit2011. 6.2 5.2 The Tenant agrees and acknowledges that the scheme administrator is My Deposit Scotland. 5.3 The Landlord will be entitled to retain sums from the Deposit at the expiry or end of this tenancy agreement in respect of: 6.2.1 Any damage, the lease to use the deposit to meet any outstanding sums or compensation for damage, to accounts due by the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tearTenant, the age and condition cost of each and repairing or replacing any such item at the start of the Tenancy Periodfittings and fixtures which have been broken, save that damaged or lost and the Deposit may not be used in respect expense of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of making good any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach failure by the Tenant to fulfil any of the Tenant's obligations in other conditions of this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contentslease. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit 5.4 The deposit or part of the Depositdeposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where Tenancy Deposit Schemes (Scotland) Regulations 2011 The Tenant agrees that the Tenant requests the Landlord signed Inventory, attached as Schedule 1 to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost this Agreement is a full and accurate record of the banking fee and transfer fee incurred by the Landlord. If any contents of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord accommodation at the start of the tenancy. The Tenant has a period of seven days after signing the Inventory to ensure that the Inventory is correct and to tell the Landlord of any discrepancies in writing, after which the Tenant shall be deemed to be fully satisfied with the terms. 6.1 The Tenant agrees that these contents were as described in the inventory. The Tenant agrees to replace or repair (or to pay the cost, at the option of the Landlord) any of the contents which are destroyed, damaged, removed or lost during the tenancy, fair wear and tear excepted. The costs involved in making good any damage or cleaning found necessary may be deducted by the Landlord from the deposit under Clause 6

Appears in 1 contract

Samples: Short Assured Tenancy Agreement

Deposit. 6.1 Landlord hereby acknowledges the receipt of the sum of ($ ) as a damage/security deposit to secure the performance of Tenants obligations under this lease. Upon surrender of the premises by Xxxxxx to Landlord at the expiration of the term of this lease, Landlord shall refund to Tenants the amount held hereunder as a damage/security deposit less such amount as shall be equal to the fair value of Landlord's damages sustained or incurred by Landlord by reason of Tenants failure to perform his/her/their obligations hereunder. Tenant further expressly agrees to compensate or reimburse Landlord for any damages sustained or incurred by Landlord in excess of the amount of the damage/security deposit held hereunder as a consequence of Tenants failure to perform his/her/their obligations hereunder. The Deposit deposit will be paid into held by Landlord as security for payment of the rent reserved herein, the costs of repairing any damages to the premises and the furnishings therein which may have occurred during the term of this lease, the charges for cleaning the premises to occupancy, the liquidated damages provided for herein, and the reasonable costs, attorney's fees and expenses made and incurred by Landlord in enforcing the agreements of this lease. It is expressly agreed that the deposit is neither an advance payment of rent, nor any part of rent installment, and is not a tenancy deposit scheme within the timescales laid out measure of Landlord's damage in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”)event of a breach of this lease. No interest Tenants shall be paid by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will not be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, return or compensation for damage, to the Accommodation and a share application of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start portion of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after deposit until the end of the tenancy. 6.2.5 Any loss arising as term of this lease and a result reasonable time thereafter. At Landlord's election, however, any portion of deposit not otherwise applied towards such damages may be applied by Landlord towards delinquent or future rent. The refund of any breach by unused portion of said deposit shall be returned to Tenants at the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing property address, or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales such other address as laid out in the Regulations. Where the Tenant requests Tenants may direct the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred in writing, by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyfirst class mail.

Appears in 1 contract

Samples: Apartment Lease Agreement

Deposit. 6.1 1.6.1 The Deposit of £ …11……….will be paid by the Tenant(s). 1.6.2 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by to the Landlord or Landlord’s Agent who will forward the Deposit to The Deposit Protection Service or a similar Government deposit protection scheme. Terms and ADR rules governing the Tenant for protection of the Deposit, including the repayment process, can be found at xxx.xxxxxxxxxxxxxxxxx.xxx 1.6.3 Neither the Landlord or Agent will pay interest on the Deposit. 6.2 1.6.4 The Tenant agrees Deposit is held as security for the performance of the Tenant’s obligations under this agreement and acknowledges that to compensate the Landlord will be entitled to retain sums from the Deposit at the end for any breach of this tenancy agreement in respect of: 6.2.1 those obligations, which include but is not limited to: - Any damage, or compensation for damage, to the Accommodation Building, its fixtures and a share of any damage fittings or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, ; the age and condition of each and any such said item at the start commencement of the Tenancy Period, save that the Deposit may not be used in respect of damage by and any insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 Landlord. - The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's ’s obligations in this tenancy agreementunder the Tenancy Agreement, including those relating to the cleaning of the Accommodation The Building, its fixtures and the Common Parts and their respective Contents. 6.2.3 fittings. - Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation The Building for which the Tenant is liable. 6.2.4 . - Any Rent, Fees Rent or other money due or payable by the Tenant under this tenancy agreement the Tenancy Agreement of which the Tenant has been made aware and which remains unpaid after at the end of the tenancyTenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 1.6.5 Subject to Clauses 6.1 or 6.2 the Tenancy Deposit Protection scheme rules, the Deposit or part of the Deposit, if any, will be refunded to the Tenant Tenant, subject to any deductions, within 10 days, after the timescales as laid out following have been completed: - Possession of the Property has been returned to the Landlord - All key fobs have been returned to the Landlord - Both parties have confirmed their acceptance of any Deposit deductions - Confirmation has been received from the LHA that no claw back of Housing Benefit is due - Written proof that any Council Tax owing has been paid in the Regulations. Where full 1.6.6 The Deposit is not transferrable to the Tenant requests in any way 1.6.7 In the Landlord to send event that the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is total amount lawfully due to be returned at the end of the tenancyTenancy exceeds the amount of Deposit taken, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to Tenant shall reimburse the Landlord at or Agent the start further amount, within 14 days of the tenancyrequest being made.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within (a) Concurrently with the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end execution of this tenancy agreement in respect of: 6.2.1 Any damageEscrow Agreement, or compensation for damage, to Team is depositing with Escrow Agent the Accommodation and a share of any damage or compensation for damage to Cash Consideration (because the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start amount of the Tenancy Period, save that the Deposit Cash Consideration may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [increase or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising decrease as a result of any breach the investment and reinvestment thereof, and because said amount may be reduced by charges thereto and payments and setoffs therefrom to compensate or reimburse Escrow Agent for amounts owing to it pursuant to this Agreement, the Tenant funds deposited with Escrow Agent as they may fluctuate from time to time, shall hereinafter be referred to as the “Deposit,”) and certificates representing the Escrowed Shares issued in the names of their obligations Sellers as set forth on the signature page to this Agreement. Each of Sellers has caused to be deposited with Escrow Agent irrevocable stock powers executed in this tenancy agreement blank with respect to the Escrowed Shares (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce “Stock Powers”). (The Deposit, the Tenant's obligations Escrowed Shares and the costs of instructing advisersStock Powers are referred to collectively as the “Escrowed Property.”) 6.3 (b) The Escrowed Shares held by Escrow Agent shall be deemed issued and outstanding with respect to any matter on which shareholders of Team have a right to vote and each of Sellers shall be entitled to vote his or her Escrowed Shares. (c) If during the term of this Agreement, Team pays or declares any dividend or distribution on the Team common stock, the dividend or distribution payable with respect to the Escrowed Shares shall be delivered by Team to Escrow Agent and shall constitute part of the Escrowed Property. (d) Subject to Clauses 6.1 and in accordance with the terms and conditions hereof, Escrow Agent agrees that it shall receive, hold in escrow, invest, reinvest, and release or 6.2 distribute the Escrowed Property. All interest and other earnings on the Deposit shall become a part of the Deposit for all purposes, and all losses resulting from the investment or reinvestment thereof from time to time, and all amounts charged thereto to compensate or reimburse Escrow Agent for amounts owing to it hereunder from time to time, shall, from the time of such loss or charge, no longer constitute part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Escrow Agreement (Team Inc)

Deposit. 6.1 4.1. The Deposit will be paid into a tenancy deposit scheme within safeguarded under the timescales laid out in terms of the Custodial Tenancy Deposit Schemes (Scotland) Regulations 2011 Scheme (“CTDS”) operated by Computershare Investor Services plc under the Regulationsname of the Deposit Protection Service “the DPS). 4.2. No interest shall The Deposit amount (as defined) will be paid by the Tenant to the Property Manager acting on behalf of the Landlord at the same time as the First Payment. 4.3. Within 30 days of receiving the Deposit the Landlord (or the Property Manager) shall protect the Deposit in the CTDS and provide to the Tenant for the Prescribed Information regarding the Deposit. 6.2 4.4. The Tenant agrees and acknowledges that will not be entitled to any interest payable on the Deposit money. 4.5. At the termination of this Agreement the Landlord will notify the Tenant of the amount it intends to claim from the Deposit (“the Deductions”), if any. 4.6. At the end of the Tenancy Period, the Landlord shall be entitled to retain sums withhold from the Deposit at such proportion of the end of this tenancy agreement in respect ofDeposit as may be reasonably necessary to: 6.2.1 Any 4.6.1. pay any Rent which remains unpaid. 4.6.2. pay any damage, or compensation for damage, to the Accommodation Room and a share of any damage Flat, its fixtures and fittings or compensation for damage to the Common Parts and their respective Contents missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The 4.6.3. pay the reasonable costs incurred in compensating the Landlord and/or the Agent us for, or for rectifying or remedying, remedying any major breach by the Tenant of their obligations under the Tenant's obligations in this tenancy agreementTenancy Agreement, including (but not limited to) those relating to the cleaning of the Accommodation (being the Development, Flat, Room), its fixtures and fittings, plus any charges incurred by us due to your failure to comply with the Common Parts terms of this agreement, for example (but not limited to) the condition of the Accommodation any call out charges incurred by reason of your failure to allow our contractors access after an appointment date and their respective Contentstime has been agreed with you and/or emergency and out of hours visits to the Development in respect of a problem caused by the Tenant. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of 4.6.4. pay any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable legal costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded awarded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance Property Manager) in legal proceedings brought against the Tenant in connection with his/her Tenancy of itthe Development, for example (but not limited to) any claims for possession. 4.7. The Landlord and Tenant will endeavour to an overseas bank account agree the Landlord shall amount of any deductions and will present a joint Deposit form to the DPS. In the event of any dispute the DPS Alternative Dispute Resolution Service will be entitled applied in relation to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyin dispute.

Appears in 1 contract

Samples: Tenancy Agreement

Deposit. 6.1 (a) No later than the Commencement Date, Tenant shall deposit with Landlord the sum of Three Hundred Seventy-Five Thousand and No/100 Dollars ($375,000.00), which sum (the “Security Deposit”) shall be held by Landlord as security for the faithful performance of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults (beyond any applicable cure period) with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and Tenant’s failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep any deposit under this Section separate from Landlord’s general funds, and Tenant shall not be entitled to interest thereon. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Security Deposit, or any balance thereof, shall be returned to Tenant or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder, at the expiration of the term of this Lease and after Tenant has vacated the Property. In the event of termination of Landlord’s interest in this Lease, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of such deposit or the accounting thereof. (b) As an alternative to the cash Security Deposit described in Section 16.1(a), Tenant may instead deliver to Landlord an irrevocable standby letter of credit (the “Letter of Credit”) issued in favor of Landlord by a federally insured commercial bank or trust company approved in writing by Landlord (which approval shall not be unreasonably withheld), in form and substance reasonably satisfactory to Landlord, to be held by Landlord as security for the faithful performance of all the obligations of Tenant under this Lease, subject to the following terms and conditions: (i) The amount of the Letter of Credit shall be Three Hundred Seventy-Five Thousand and No/100 Dollars ($375,000.00), and Tenant shall maintain the Letter of Credit in that amount in full force and effect throughout the term of this Lease and until thirty (30) days after the expiration of the term of this Lease, unless Tenant elects at any time to replace the Letter of Credit with a full cash Security Deposit in compliance with Section 16.1(a). The Letter of Credit may be for an initial one-year term, with automatic renewal provisions, provided that Landlord shall be given at least thirty (30) days prior written notice if the Letter of Credit will not be paid into renewed as of any otherwise applicable renewal date and shall be entitled to draw against the expiring Letter of Credit if a tenancy deposit scheme within replacement Letter of Credit is not furnished to Landlord at least twenty (20) days prior to the timescales laid out scheduled expiration date, as provided in Section 16.1(b)(iii)(A) below. (ii) Landlord shall be entitled (but shall not be required) to draw against the Letter of Credit and receive and retain the proceeds thereof upon any default (beyond any applicable cure period) by Tenant in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall payment of any rent or other amounts required to be paid by Tenant under this Lease, or upon the occurrence of any other Event of Default (beyond any applicable cure period) under this Lease. The amount of the draw shall not exceed the amount of the payments (if any) as to which Tenant is then in default and/or the amount reasonably necessary to cure any nonmonetary Events of Default by Tenant, and shall be applied by Landlord to the cure of the applicable default(s). Following any partial draw under this paragraph (ii), if Tenant for fully cures all outstanding defaults and provides Landlord with a new Letter of Credit in the Depositfull required amount under this Section 16.1, Landlord shall surrender and return to Tenant, within ten (10) days after Tenant’s satisfaction of the foregoing conditions, the Letter of Credit under which the partial draw was made. 6.2 The Tenant agrees and acknowledges that the (iii) Landlord will shall also be entitled (but shall not be required) to retain sums from draw against the Deposit at Letter of Credit in full and to receive the end entire proceeds thereof under either of the following circumstances: (A) If the Letter of Credit will expire as of a date prior to the date thirty (30) days after the expiration of the term of this tenancy agreement Lease and Tenant fails to provide to Landlord an extension or replacement of such Letter of Credit, in respect of: 6.2.1 Any damageat least the minimum amount required under this Section 16.1(b), or compensation for damage, at least twenty (20) days prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start scheduled expiration date of the Tenancy PeriodLetter of Credit; or (B) If, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of a draw against the Letter of Credit by Landlord or for any breach other reason, the amount of the Letter of Credit falls below the minimum amount required to be maintained from time to time pursuant to this Section 16.1(b) and Tenant has failed to cause the Letter of Credit to be restored to at least the minimum required amount within ten (10) days after written demand by Landlord or, in lieu thereof, has failed to put up cash in an amount equal to the Tenant amount required to be restored (which cash, if put up by Tenant, shall be retained by Landlord as a cash security deposit in accordance with Section 16.1(a) hereof). (iv) If Landlord draws against the Letter of their obligations Credit in this tenancy agreement any of the circumstances described in subparagraph (including the Landlord's and Agent's proper and reasonable costs of enforcing iii) above, Landlord shall use, apply and/or retain all or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or any part of the Deposit, if any, will be refunded to amount drawn for the Tenant within the timescales as laid out in the Regulationscure of any then existing defaults under this Lease. Where the Tenant requests the Landlord to send the Deposit (Any amount drawn that is not immediately so used or the balance of it) to an overseas bank account the applied by Landlord shall be entitled retained by Landlord as a cash security deposit, subject to deduct and in accordance with the sum provisions of £20 from the Deposit to cover the cost Section 16.1(a). (v) Any actual or purported withdrawal, rescission, termination or revocation of the banking fee and transfer fee incurred Letter of Credit by the Landlord. If any issuer thereof prior to the expiration of the Deposit is due to be returned at the end term of the tenancy, the Landlord will pay the refund this Lease (except when replaced prior to the Tenanteffectiveness of such withdrawal, irrespective rescission, termination or revocation by a replacement Letter of who paid Credit as contemplated in Section 16.1(b)(iii)(A) hereof or by a cash Security Deposit in the Deposit to required amount) shall be a material breach of this Lease. (vi) The Letter of Credit shall provide that it is governed by the Landlord at the start of the tenancyInternational Standby Practices (ISP98), ICC Publication No. 590.

Appears in 1 contract

Samples: Lease (Macrogenics Inc)

Deposit. 6.1 (a) Concurrently with Tenant's execution of this Lease, Tenant shall deposit with Landlord the sum of Two Million Two Hundred Seventy Thousand Four Hundred Thirty and No/100 Dollars ($2,270,430.00), which sum (the "Security Deposit") shall be held by Landlord as security for the faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep any deposit under this Section separate from Landlord's general funds, and Tenant shall not be entitled to interest thereon. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Security Deposit, or any balance thereof, shall be returned to Tenant or, at Landlord's option, to the last assignee of Tenant's interest hereunder, at the expiration of the term of this Lease and after Tenant has vacated the Property. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord's successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of such deposit or the accounting thereof. (b) As an alternative to the cash Security Deposit described in Section 20.1(a), Tenant may instead deliver to Landlord, within ten (10) days after mutual execution of this Lease, an irrevocable standby letter of credit (the "Letter of Credit") issued in favor of Landlord by a federally insured commercial bank or trust company approved in writing by Landlord (which approval shall not be unreasonably withheld), in form and substance reasonably satisfactory to Landlord, to be held by Landlord as security for the faithful performance of all the obligations of Tenant under this Lease, subject to the following terms and conditions: (i) The amount of the Letter of Credit shall be at least Two Million Two Hundred Seventy Thousand Four Hundred Thirty and No/100 Dollars ($2,270,430.00), and Tenant shall maintain the Letter of Credit in that amount in full force and effect throughout the term of this Lease (including any extensions thereof) and until thirty (30) days after the expiration of the term of this Lease, unless Tenant elects at any time to replace the Letter of Credit with a full cash Security Deposit in compliance with Section 20.1(a). The Letter of Credit may be for an initial one-year term, with automatic renewal provisions, provided that Landlord shall be given at least thirty (30) days prior written notice if the Letter of Credit will not be paid into renewed as of any otherwise applicable renewal date and shall be entitled to draw against the expiring Letter of Credit if a tenancy deposit scheme within replacement Letter of Credit is not furnished to Landlord at least twenty (20) days prior to the timescales laid out scheduled expiration date, as provided in Section 20.1(b)(iii)(A) below. (ii) Landlord shall be entitled (but shall not be required) to draw against the Letter of Credit and receive and retain the proceeds thereof upon any default by Tenant in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall payment of any rent or other amounts required to be paid by Tenant under this Lease, or upon the occurrence of any other Event of Default under this Lease. The amount of the draw shall not exceed the amount of the payments (if any) as to which Tenant is then in default and/or the amount reasonably necessary to cure any non-monetary Events of Default by Tenant, and shall be applied by Landlord to the cure of the applicable default(s). Following any partial draw under this paragraph (ii), if Tenant for fully cures all outstanding defaults and provides Landlord with a new Letter of Credit in the Depositfull required amount under this Section 20.1(b), Landlord shall surrender and return to Tenant, within ten (10) days after Tenant's satisfaction of the foregoing conditions, the Letter of Credit under which the partial draw was made, and any unapplied cash drawn under such Letter of Credit. 6.2 The Tenant agrees and acknowledges that the (iii) Landlord will shall also be entitled (but shall not be required) to retain sums from draw against the Deposit at Letter of Credit in full and to receive the end entire proceeds thereof under either of the following circumstances: (A) If the Letter of Credit will expire as of a date prior to the date thirty (30) days after the expiration of the term of this tenancy agreement Lease and Tenant fails to provide to Landlord an extension or replacement of such Letter of Credit, in respect of: 6.2.1 Any damageat least the minimum amount required under this Section 20.1(b), or compensation for damage, at least twenty (20) days prior to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start scheduled expiration date of the Tenancy PeriodLetter of Credit; or (B) If, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of a draw against the Letter of Credit by Landlord or for any breach other reason, the amount of the Letter of Credit falls below the minimum amount required to be maintained from time to time pursuant to this Section 20.1(b) and Tenant has failed to cause the Letter of Credit to be restored to at least the minimum required amount within ten (10) days after written demand by Landlord. Landlord shall return any unapplied cash to Tenant upon receipt a new Letter of Credit in the full amount required by the Tenant terms of their obligations the Lease. (iv) If Landlord draws against the Letter of Credit in this tenancy agreement any of the circumstances described in subparagraph (including the Landlord's and Agent's proper and reasonable costs of enforcing iii) above, Landlord shall use, apply and/or retain all or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or any part of the Deposit, if any, will be refunded to amount drawn for the Tenant within the timescales as laid out in the Regulationscure of any then existing defaults under this Lease. Where the Tenant requests the Landlord to send the Deposit (Any amount drawn that is not immediately so used or the balance of it) to an overseas bank account the applied by Landlord shall be entitled retained by Landlord as a cash security deposit, subject to deduct and in accordance with the sum provisions of £20 from the Deposit to cover the cost Section 20.1(a). (v) Any actual or purported withdrawal, rescission, termination or revocation of the banking fee and transfer fee incurred Letter of Credit by the Landlord. If any issuer thereof prior to the expiration of the Deposit is due to be returned at the end term of the tenancy, the Landlord will pay the refund this Lease (except when replaced prior to the Tenanteffectiveness of such withdrawal, irrespective rescission, termination or revocation by a replacement Letter of who paid the Deposit to the Landlord at the start Credit as contemplated in Section 20.1(b)(iii)(A) hereof) shall be a material breach of the tenancythis Lease. 21.

Appears in 1 contract

Samples: Build to Suit Lease (Tularik Inc)

Deposit. 6.1 Deposit 7.1 The Deposit will be paid into a tenancy Tenant shall on the signing hereof deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by with the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement sum specified in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start Part IV of the Tenancy Period, save that First Schedule hereto to secure the Deposit may not be used in respect of damage by insured risks due observance and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach performance by the Tenant of the Tenant's obligations in agreements stipulations terms and conditions herein contained and on the part of the Tenant to be observed and performed which said deposit shall be held by the Landlord throughout the currency of this tenancy agreement, including those relating Agreement free of any interest to the cleaning Tenant with the right for the Landlord (without prejudice to any other right or remedy hereunder) to deduct therefrom the amount of the Accommodation any rent rates and the Common Parts other charges payable hereunder and their respective Contents. 6.2.3 Any unpaid accounts for utilities any costs expenses loss or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable damage sustained by the Tenant under this tenancy agreement of which Landlord as the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach non-observance or non-performance by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part any of the Depositsaid agreements, if any, will stipulations terms or conditions. In the event of any deduction being made by the Landlord from the said deposit in accordance herewith during the currency of this Agreement the Tenant shall forthwith on demand by the Landlord make a further deposit equal to the amount so deducted and failure by the Tenant so to do shall entitle the Landlord forthwith to re-enter upon the said premises and to determine this Agreement as hereinbefore provided; 7.2 Subject as aforesaid the said deposit shall be refunded to the Tenant deposit by the Landlord without interest within thirty days after the timescales as laid out in expiration or sooner determination of this Agreement and delivery of vacant possession to the Regulations. Where Landlord and after settlement of the last outstanding claim by the Landlord against the Tenant requests the Landlord to send the Deposit (for any arrears of rent rates and other charges and for any breach non-observance or the balance non-performance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due agreements stipulations obligations or conditions herein contained and on the part of the Tenant to be returned at observed or performed whichever shall be the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.later;

Appears in 1 contract

Samples: Tenancy Agreement (Tag It Pacific Inc)

Deposit. 6.1 The Deposit will be paid into a tenancy (a) Concurrently with Tenant’s execution of this Lease, Tenant shall deposit scheme within with Landlord the timescales laid out in sum of Two Hundred Fifty-Seven Thousand Seven Hundred Fifty-One and 90/100 Dollars ($257,751.90), which sum (the Tenancy Deposit Schemes (Scotland“Security Deposit”) Regulations 2011 (“the Regulations”). No interest shall be paid held by Landlord as security for the Landlord faithful performance of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults beyond applicable notice and cure periods with respect to any provision of this Lease, including, without limitation, the provisions relating to the Tenant payment of rental and other sums due hereunder, Landlord shall have the right, but shall not be required, to use, apply or retain all or any part of the Security Deposit for the Deposit. 6.2 The payment of rental or any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant agrees shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount and acknowledges that the Tenant’s failure to do so shall be a material breach of this Lease. Landlord will shall not be required to keep any deposit under this Section separate from Landlord’s general funds, and Tenant shall not be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damageinterest thereon. The Security Deposit, or compensation for damageany balance thereof not applied or retained under this Section 16.1, shall be returned to Tenant or, at Landlord’s option, to the Accommodation last assignee of Tenant’s interest hereunder, at the expiration of the term of this Lease and a share after Tenant has vacated the Premises. In the event of any damage termination of Landlord’s interest in this Lease, Landlord shall transfer all deposits then held by Landlord under this Section to Landlord’s successor in interest, whereupon Tenant agrees to release Landlord from all liability for the return of such deposit or compensation the accounting thereof. (b) Notwithstanding the foregoing, the Security Deposit shall be reduced by $42,958.65 on each of the second, third, fourth and fifth anniversaries of the Commencement Date. Following the reduction on the fifth anniversary of the Commencement Date and for damage to the Common Parts and their respective Contents for which remainder of the Tenant term of this Lease, as it may be liable, subject to an apportionment or allowance for fair wear and tearextended, the age and condition Security Deposit shall be the greater of each and any such item at $85,917.30 or two months minimum rental for the start last two months of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess])then current term. 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Lease (Acologix, Inc.)

Deposit. 6.1 The Deposit deposit referred throughout this Agreement will be paid used for or towards; Any work carried out to bring the Property into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges condition that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item it was at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks Term and repairs that are the responsibility of to rectify all dilapidations to or to refund the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [for any missing or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred broken items at the Accommodation Property for which the Tenant is liable. 6.2.4 Any liable by reference to the Inventory, fair wear and tear excluded. Deposit deductions will be made in line with Uni2 Rent, Fees or other money due or payable ’s charge list which will be given to the Tenants upon move-in and forms part of the Moving In Guide; All reasonable costs incurred by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising Landlord as a result of rectifying any breach breaches by the Tenant of their obligations this Agreement; Any unpaid utility bill that the Tenant is liable for (where exclusive) or any excess usage of any service (where inclusive) in accordance with Clause 6; Any rent, costs or fees which are due to the Landlord as mentioned in this tenancy agreement (including Agreement and which remain unpaid by the Landlord's Tenant as stated in this Agreement; The deposit is safeguarded and Agent's proper and reasonable costs of enforcing or attempting held by: XxXxxxxxxx, 0xx Xxxxx, Xxxxxxx Xxxxx, Xxxxxxx Xxx, Xxxxxxx Xxxx, XX0 0XX. If there is no dispute as to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part amount of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due deposit to be returned to the Tenant, the Landlord will repay the deposit to the lead Tenant of the group; The Tenant should contact the Landlord in writing if intending to dispute the findings; In the circumstance that the deposit is insufficient to reimburse the Landlord in respect of the matters identified and listed by paragraphs 3.1 to 3.10 (and any other sums mentioned in this Agreement) the Tenant shall pay to the Landlord all additional sums within seven (7) days; If, after reasonable attempts have been made to resolve differences in opinion, there remains dispute between the Landlord and Tenant over the allocation of the deposit, the case may be submitted to MyDeposits for adjudication: and all parties shall agree to the final ruling of MyDeposits. The rent paid on page 1 of this Agreement is due for the entirety of this Tenancy unless otherwise agreed and does not accumulate toward a returnable deposit at the end of the tenancyTenancy. Where a deposit has been protected as a group deposit, the Landlord will pay Tenants shall nominate a Tenant to be responsible for returning the refund to the Tenant, irrespective of who paid the Deposit to deposit equally amongst all other Tenants and the Landlord shall have no liability for any failure for them to do so. All Tenant deposits are jointly liable for deposit deductions at the start Property. It is further agreed that if the total amount lawfully due at the end of the tenancytenancy exceeds the amount of the Deposit, the Tenant shall reimburse the Landlord the further amount, within 14 days of the request being made. For Tenants with a bills exclusive rental agreement, it is agreed that the deposit will not be returned until the Tenant presents the final bill for each utility at the end of the term to Uni2 Rent staff, with the bill showing a zero balance.

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 5.2.1. On entering this Agreement, the Lessee shall on demand of the Lessor, immediately pay the Lessor the Deposit amount indicated in the Lease Information, which amount the Lessor shall retain as security for fulfilment by the Lessee of its obligations in terms of this Agreement. 5.2.2. The Lessor may, subject to this clause 5.2, at its discretion apply the Deposit for payment of any expenses incurred by the Lessor in order to rectify damages (clear definition of damages) in respect of the Leased Premises, and for which the Lessee is liable, or for payment of any amounts for which the Lessee shall be liable towards the Lessor in terms of this Agreement, provided that the Lessor's right to claim damages or any other amounts owing shall not be limited as a result thereof and the Lessee shall within 14 (FOURTEEN) days of being notified by the Lessor that the Deposit has thus been applied, reinstate the Deposit to the original amount thereof. Some landlords charge students for damage and some landlords deduct money from the loan amount which one is the good direction? 5.2.3. The Deposit will must be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid invested by the Landlord Lessor in an interest-bearing account with a financial institution, and the Lessor must, subject to clause 5.2.6 pay the Lessee such interest at the rate applicable to such account which may not be less than the rate applicable to a savings account with that financial institution, and the Lessee may, during the Lease Period, request the Lessor to provide written proof in respect of interest accrued on such Deposit, and the Lessor must provide such proof on request. 5.2.4. The Lessor and Lessee shall jointly, prior to the Tenant Lessee taking occupation of the Leased Premises, inspect the Leased Premises to ascertain the existence or not of any defects or damage therein with a view to determining the Lessor’s responsibility for the Depositrectifying any defects or damage. A list of defects or damage must be attached as ‘Annexure A’ to this Agreement. 6.2 The Tenant agrees and acknowledges that 5.2.5. At the Landlord will be entitled to retain sums from the Deposit at the end expiration of this tenancy agreement Agreement the Lessor and Xxxxxx shall jointly inspect the Leased Premises at a mutually convenient time within a period of 3 (THREE) days prior to such expiration or at a later time agreed upon between the Parties (which shall in respect of: 6.2.1 Any damage, or compensation for damage, any event not be later than 7 (SEVEN) days after the expiration of the Agreement) with a view to ascertaining if there was any damage caused to the Accommodation Leased Premises during the Lessee’s occupation thereof. 5.2.6. On the expiration of this Agreement, the Lessor may apply such Deposit and a share interest towards the payment of any damage or compensation all amounts for which the Lessee is liable under this Agreement, including the reasonable cost of repairing damage to the Common Parts Leased Premises and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear cost of replacing lost keys and tear, the age and condition of each and any such item at the start balance of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Depositinterest, if any, will must then be refunded to the Tenant Lessee by the Lessor not later than 7 (SEVEN) days of restoration of the Leased Premises to the Lessor. (clarity on number of days for refund) 5.2.7. The relevant receipts which indicate the costs which the Lessor incurred, as contemplated in clause 5.2.6, must be available to the Lessee for inspection as proof of such costs incurred by the Lessor. 5.2.8. Should no amounts be due and owing to the Lessor in terms of this Agreement, the Deposit, together with the accrued interest in respect thereof, must be refunded by the Lessor to the Lessee, without any deduction or set-off, within 7 (SEVEN) days of expiration of this Agreement. (clarity on number of days for refund) 5.2.9. Failure by the timescales as laid out Lessor to inspect the Leased Premises in the Regulationspresence of the Lessee as contemplated in clause 5.2.5, is deemed to be an acknowledgement by the Lessor that the Leased Premises is in a good and proper state of repair, and the Lessor will have no further claim against the Lessee who must then be refunded the full Deposit plus interest by the Lessor. 5.2.10. Where Should the Tenant requests Lessee fail to respond to the Landlord Lessor’s request for an inspection as contemplated in clause 5.2.5, the Lessor must, on expiration of this Agreement, inspect the Leased Premises within 7 (SEVEN) days from such expiration in order to send assess any damages or loss which occurred during the Deposit (lease. The Lessor may in these circumstances without detracting from any other right or remedy of the balance of it) to an overseas bank account the Landlord shall be entitled to Lessor, deduct the sum of £20 from the Lessee’s Deposit and interest the reasonable cost of repairing damage to cover the Leased Premises and the cost of replacing lost keys. The balance of the banking fee Deposit and transfer fee interest, if any, after deduction of the amounts contemplated in this clause, must be refunded to the Lessee by the Lessor not later than 21 (TWENTY-ONE) days after expiration of this Agreement and the relevant receipts which indicate the costs which the Lessor incurred, must be available to the Lessee for inspection as proof of such costs incurred by the LandlordLessor. If any No new Lessee within the 7 (SEVEN) day period may take up accommodation. (clarity on number of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancydays for refund).

Appears in 1 contract

Samples: Lease Agreement

Deposit. 6.1 9.1 The Deposit will be paid into available at all times to set against any breaches of this agreement, including any outstanding Rent and the Landlord’s reasonable costs or damages caused directly by the breach of this agreement 9.2 The Deposit will be held and protected as required by legislation and details of that protection will be forwarded to the Tenant within 30 days after today 9.3 If before the end of the tenancy the Deposit, or part of it, is set against Rent or a tenancy deposit scheme within breach of this agreement, then the timescales laid out Tenant must promptly make the Deposit back up to the specified amount 9.4 The holding and use of the Deposit does not affect any other rights and remedies available to the Landlord under the terms, whether express or implied, of this agreement 10 Guarantor's covenants 10.1 The Guarantor covenants with the Landlord that the Tenant will pay the Rent and comply with all the Tenant’s obligations in this agreement. In any case of default by the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“Tenant the Regulations”). No interest shall Guarantor will pay the rents and comply with those obligations, and will on demand make good to the Landlord on a full indemnity basis all liability incurred or suffered by the Landlord as a result of that default 10.2 As between the Landlord and the Guarantor the Guarantor is a principal debtor and not merely asurety 10.3 The Guarantor’s liability will not be paid reduced or discharged by any of the following: 10.3.1 any time, indulgence or concession granted by the Landlord to the Tenant for or to any other person who is liable 10.3.2 the Deposit.existence of or dealing with, varying or failing to perfect or enforce any security which may be or become available to the Landlord 6.2 The 10.3.3 any right to set off (whether legal or equitable), counterclaim or deduction which may have accrued to the Tenant agrees and acknowledges that or the Guarantor 10.3.4 any non-acceptance of the Rent or other sums due under this agreement in circumstances where the Landlord will be entitled has reason to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and suspect a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's ’s obligations in under this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable 10.3.5 any waiver by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result Landlord of any breach by the Tenant of their obligations in right to forfeit this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.agreement]

Appears in 1 contract

Samples: Assured Shorthold Tenancy

Deposit. 6.1 The Deposit Landlord and the Tenant agree that the deposit will be paid into a tenancy deposit scheme within the timescales laid out held in accordance with the Tenancy Deposit Schemes Protection Scheme governed under the Housing Xxx 0000. The Landlord will register and inform the Tenant of the Tenancy Deposit Scheme within 14 days of the commencement date of the Tenancy or the taking of the Deposit whichever is earlier and provide proof to the Tenant of compliance. EACH TENANT WILL: 2.1 Pay the deposit to the Landlord who will lodge it with the Deposit Protection Scheme (ScotlandDPS) Regulations 2011 for the Term or until vacant possession is obtained of their specified room and they have surrendered all keys to the property. The deposit plus interest or the balance thereof shall be returned to the Tenant within 30 days of the expiry of the Term and the return of all the keys to the Landlord subject to such deductions the Landlord, shall properly make in respect of and in order of (a) any other monies owed by the Regulations”Tenant to the Landlord; and (b) the cost of making good, cleaning or repair of the Property or at the option of the Landlord compensation for making good, cleaning or repair of the Property; and (c) any Rent arrears; and (d) any damage caused or cleaning required as a result of any pets occupying the premises (whether or not the Landlord consented to its presence). No interest ; and (e) any unpaid telephone charges; and if the monies exceed the amount then held by the Landlord for the Deposit the amount of such excess shall be paid by the Landlord Tenant to the Tenant Landlord within fourteen days of written demand. In the event of a dispute, the DPS arbitration procedures will determine the amount returned. 2.2 In the absence of agreed individually accountability, all Tenants will be held jointly and severally liable for the Depositcost of reparations to the communal areas of the Property to the maximum extent of £100 each from their deposits. 6.2 2.3 The Tenant agrees and acknowledges shall not be entitled to withhold the payment of any instalment of Rent or any other monies payable under this Agreement on the grounds that the Landlord will be entitled has access to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or any part of it. If the Deposit, if any, will be refunded Landlord sells or transfers his interest in the Property the Tenant shall consent to the Tenant within transfer of the timescales as laid out Landlord’s interest in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of itthe Deposit) to an overseas bank account the purchaser or transferee. The Landlord shall then be entitled to deduct the sum of £20 released from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any further claim or liability in respect of the Deposit is due to be returned at the end (or any part of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyit).

Appears in 1 contract

Samples: Assured Shorthold Tenancy Agreement

Deposit. 6.1 3.2.1 No later than five (5) Business Days following the execution of this Lease, Tenant shall pay Landlord the Deposit by way of bank draft, certified cheque and/or wire transfer. The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant stand as security for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition timely performance of each of Tenant’s covenants, indemnities and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in under this tenancy agreement, including those relating to the cleaning of the Accommodation Lease and the Common Parts Indemnifier’s covenants, indemnities and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at obligations under the Accommodation for which the Tenant is liable. 6.2.4 Any RentIndemnity Agreement from time to time. Upon each occurrence of an Event of Default, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit Landlord may use all or part of the DepositDeposit to pay delinquent payments due under this Lease and/or the cost of any damage, injury, expense or liability caused by such an Event of Default, without prejudice to any other right or remedy provided herein, in the Indemnity Agreement or provided by law. The Deposit shall be the absolute property of Landlord and no interest shall accrue thereon. The rights and remedies of Landlord hereunder in respect of the Deposit and Landlord’s absolute entitlement to the entire proceeds thereof shall survive and continue in full force and effect and shall not be waived, reduced, released, discharged, impaired or affected by reason of the release or discharge of Tenant or Indemnifier, if any, will be refunded in any receivership, bankruptcy, insolvency, winding-up or other creditor’s proceedings, including, without limitation, any proceedings under the Bankruptcy and Insolvency Act (Canada) or the Companies’ Creditors Arrangement Act (Canada), or the disaffirmance, disavowal, surrender, cancellation, unenforceability, compromise, resiliation, disclaimer, repudiation, rejection, unenforceability and/or termination of this Lease for any reason (individually and collectively referred to herein as “Disclaimed”) in any such proceedings or otherwise and shall continue with respect to the Tenant within periods thereto and thereafter as if this Lease had not been Disclaimed. 3.2.2 Notwithstanding the timescales foregoing, so long as laid out in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance there is no Event of it) to an overseas bank account the Default hereunder which is subsisting, Landlord shall be entitled to deduct apply the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any corresponding portion of the Deposit is due to be returned at against the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyBase Rent first payable hereunder.

Appears in 1 contract

Samples: Lease Agreement (Equinix Inc)

Deposit. 6.1 The Deposit will A. Simultaneously with the execution of this Lease, Tenant shall deposit with Landlord a deposit of $40,000.00 payable to Landlord to be paid into held without accruing interest, at Landlord's option in a tenancy separate account or commingled with other funds to be held by Landlord through the term of the Lease. If Tenant fails to comply with the provisions hereof, such deposit scheme shall be retained by Landlord in payment for its expenses or damages or any amounts payable under the Lease, but such retention shall not limit or preclude Landlord's right of action for damages or other remedies for breach of the provisions of this Lease. B. Notwithstanding any statement in this Paragraph 4 to the contrary, after the Conversion Date, at Landlord's option, within ten (10) days after written notice to Tenant, Tenant shall deposit with Landlord, as security for the timescales laid out performance of Tenant's obligations under this Lease an unconditional and irrevocable letter of credit (the "Letter of Credit"), in the Tenancy Deposit Schemes amount of forty thousand and no/100 dollars (Scotland$40,000.00), which is in the form described, and satisfies the conditions set forth, in subparagraph (c) Regulations 2011 (“of this Paragraph 4. If, at any time during the Regulations”). No interest Term hereof, Tenant shall be paid in default in the performance of any provisions of this Lease, Landlord shall have the right but not the obligation to use the Letter of Credit, or so much thereof as necessary, in payment of any Rent in default, reimbursement of any expense incurred by Landlord, and in payment of any damages incurred by the Landlord by reason of Tenant's default. In such event, Tenant shall, within (5) days after written demand from Landlord restore the Letter of Credit to the Tenant for the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled amount existing immediately prior to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating default. Landlord may deliver the Letter of Credit to the cleaning any purchaser of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising as a result of any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded to the Tenant within the timescales as laid out interest in the Regulations. Where Premises in the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the event such interest is sold, and thereupon Landlord shall be discharged from further liability with respect to the Letter of Credit. If Landlord transfers its title or interest in the fee title to the Premises, Tenant will deliver to, or at the direction of, the assignee of the fee title, such amendments or replacements of the Letter of Credit as may be required. The Letter of Credit shall not serve as an advance payment of Rent or a measure of Landlord's damages for any default under this Lease. C. The Letter of Credit shall be issued by one of the following financial institutions: Bank of America, Bank of New York, Bankers Trust, Chase Manhattan, Citibank, XX Xxxxxx, US Trust or Marine Midland. Additionally, the Letter of Credit shall: (i) be in form and substance satisfactory to Landlord; (ii) name Landlord as its beneficiary; (iii) expressly allow Landlord to draw upon it at any time or from time to time by delivering to the issuer written notice, executed by an authorized representative of Landlord, that Landlord is entitled to deduct draw thereunder; (iv) be redeemable in the sum State of £20 New York; (v) expire not less than annually; (vi) be replaced or renewed, as applicable, by Tenant no less than ten business (10) days prior to the expiration date thereof and (vii) provided that the issuer give Tenant and Landlord written notice thirty (30) days prior to the expiration of such Letter of Credit if issuer intends not to renew the Letter of Credit. If Landlord is not provided with a substitute letter of credit complying with all of the requirements hereof at least ten (10) business days before any stated expiration date of the Letter of Credit, then Landlord immediately shall have the right to draw upon such Letter of Credit and to hold the resulting funds as a security deposit in accordance with the terms under this Paragraph 4. EXHIBIT A TO LEASE FLOOR PLAN INDICATING LOCATION OF PREMISES Suite 11500 5,895 RSF [GRAPHIC OMITTED] EXHIBIT B-1 TO LEASE SITE PLAN OF THE CENTER [GRAPHIC OMITTED] COLORADO CENTER THE SITE PLAN MAY BE CHANGED BY LANDLORD IN ITS SOLE DISCRETION. EXHIBIT B-2 TO LEASE LEGAL DESCRIPTION OF THE LAND Tower One: A parcel of land being a portion of the Northwest Quarter of Section 30, Township 4 South, Range 67 West of the Sixth Principal Meridian, City and County of Denver, State of Colorado, described as follows: Beginning at the intersection of the northerly line of the 100-foot wide Colorado and Southern Railroad Company right-of-way with the west line of said Northwest Quarter, from which the northwest corner thereof bears N 00(degrees)03'00" E; thence S 79(degrees)11'51" E along said northerly line, 920.63 feet to the True Point of Beginning; thence continuing S 79(degrees)11'51" E along said northerly line, 164.67 feet to a Point "A"; thence continuing S 79(degrees)11`51" E along said northerly line, 441.08 feet to a point on the southwesterly right-of-way line of Colorado State Highway 1-25; thence along said southwesterly right-of-way line the following two (2) courses: 1) N 33(degrees)59'11" W, 55.76 feet to a point of curvature; 2) along a curve to the left having a central angle of 11(degrees)06'43" and a radius of 2695.15 feet, an arc length of 522.70 feet to a point which bears N 10(degrees)48'09" E from the Deposit herein described Point "A"; thence S 10(degrees)48'09" W, 60.00 feet to cover a point that lays 312.62 feet north, when measured perpendicularly from the cost northerly line of the banking fee Colorado and transfer fee incurred by Southern Railroad Company right-of-way; thence N 79(degrees)11'51" W, 125.68 feet; thence S 10(degrees)48'09" W, 26.16 feet; thence N 79(degrees)11'51" W, 40.00 feet; thence N 10(degrees) 48'09" E, 26.16 feet; thence N 79(degrees) 11'5l" W, 44.91 feet; thence N 34(degrees)24'52" W, 36.74 feet; thence N 10(degrees)48'09" B, 63.13 feet; thence N 79(degrees)11'51" W, 19.00 feet; thence 10(degrees) 48'09" E, 56.99 feet; thence N 30(degrees)48'09" E, 59.91 feet to a point on the Landlordsouthwesterly right-of-way line of Colorado State Highway I-25; thence along said southwesterly right-of-way line on a non-tangent curve to the left, the beginning tangent of which bears N 50(degrees)56'40" W, having a central angle of 00(degrees)18'02" and a radius of 2695.15 feet, an arc length of 14.14 feet to a point of non-tangency; thence S 30(degrees)48'09" W, 78.99 feet; thence S 10(degrees)48'09" W, 128.72 feet; thence S 79(degrees)11'51" E, 18.27 feet; thence S 34(degrees)24'52" E, 102.45 feet; thence N 79(degrees)11'51" W, 20.99 feet; thence S 10(degrees)48'09" W, 38.00 feet; thence S 79(degrees)11'51" E, 20.00 feet; thence S 10(degrees)48'09" W, 188.46 feet to the True Point of Beginning; Subject to all easements and right-of way existing and/or of record; and containing 3.429 acres, or 149,349 square feet, more or less. If any City and County of Denver, State of Colorado EXHIBIT B-3 TO LEASE LEGAL DESCRIPTION OF CENTER A parcel of land being a portion of Blocks 106 through 114 together with the vacated roadways adjacent thereto, Xxxxxxxxxx'x University Terrace New Filing, according to the recorded plat thereof, laying southerly and adjacent to the southeasterly and southwesterly right-of-way lines of Colorado Interstate I-25, as delineated on the Colorado Department of Highways right-of-way plans, Project No. FI002-2(7), laying east of and adjacent to the east right-of-way line of South Colorado Boulevard, said east right-of-way line being 50 feet east of and parallel with the west line of the Deposit is due north half of the northwest quarter of Section 30, and also laying north of and adjacent to be returned the northerly right-of-way line of the Colorado and Southern Railroad Company, all being in the North Half of the Northwest Quarter of said Section 30, Township 4 South, Range 67 West of the Sixth Principal Meridian, City and County of Denver, State of Colorado, said parcel being described as follows: Beginning at the end point of intersection of said east right-of-way line of South Colorado Boulevard with said northerly right-of-way line of the tenancyColorado and Southern Railroad Company; thence northerly and parallel with the west line of the north half of said Section 30, a distance of 260.83 feet to the point of intersection with said southeasterly right-of-way line of Colorado Interstate I-25; thence northeasterly on an interior angle left of 122(degrees)03'17" and along said southeasterly right-of-way line, a distance of 630.44 feet to a point of non-tangent curvature along the southwesterly right-of-way line of said Colorado Interstate 1-25; thence southeasterly along said southwesterly right-of-way line along a curve to the right, the Landlord will pay the refund tangent of which is on an interior angle to the Tenantleft of 117(degrees)54'03", irrespective having a central angle of who paid 25(degrees)55'09" and a radius of 2,695.15 feet, an arc length of 1,219.22 feet to a point of tangency; thence continuing along said southwesterly right-of-way line and said tangent, a distance of 55.76 feet to a point of intersection with the Deposit northerly right-of-way line of the Colorado and Southern Railroad Company; thence northwesterly on an interior angle left of 45(degrees)12'40" and along said northerly right-of-way line a distance of 1,475.48 feet to the Landlord at the start point of the tenancy.beginning;

Appears in 1 contract

Samples: Office Lease (Superior National Insurance Group Inc)

Deposit. 6.1 Concurrently with the execution of this Lease, Tenant shall deposit with Landlord the amount specified in Subsection 1.1(f) (the "Deposit"), which shall be held by Landlord as security for the full and faithful performance of Tenant's covenants and obligations under this Lease. The Deposit will is not an advance Minimum Monthly Rent deposit, an advance payment of any other kind, or a measure of Landlord's damages in case of Tenant's default. If Tenant fails to comply with the full and timely performance of any or all of Tenant's covenants and obligations set forth in this Lease, then Landlord may (but shall not be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”required to). No interest shall be paid by the , from time to time, without waiving any other remedy available to Landlord to the Tenant for use the Deposit. 6.2 The Tenant agrees and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damageany portion of it, to the Accommodation and a share of any damage extent necessary to cure or compensation remedy such failure or to compensate Landlord for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage all damages sustained by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the resulting from Tenant's failure to comply fully and timely with its obligations in pursuant to this tenancy agreement, including those relating to the cleaning Lease. No acceptance of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the such payment shall be construed as an admission that Tenant has been made aware and which remains unpaid after the end performed all of the tenancy. 6.2.5 Any loss arising as a result its obligations hereunder. If Landlord elects to make such application of all or any breach by the Tenant of their obligations in this tenancy agreement (including the Landlord's and Agent's proper and reasonable costs of enforcing or attempting to enforce the Tenant's obligations and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part portion of the Deposit, if anyLandlord shall notify Tenant of the nature and amount thereof and Tenant shall within ten (10) days thereafter deposit with Landlord an amount sufficient to increase the Deposit to an amount equal to one hundred ten percent (110%) of the amount thereof set forth in Subsection 1.1(f), will be refunded as the same may have been increased by prior applications of this Subsection 6.1, and any Tenant failure to immediately do so shall constitute an Event of Default under this Lease. If Tenant is in compliance with this Lease's covenants and obligations as of the sixtieth (60th) day after the expiration or earlier termination of this Lease and Tenant's vacating of the Premises, Landlord shall thereupon, return to Tenant the unused portion of the Deposit and any advance rent paid by Tenant. Each time the Minimum Monthly Rent shall increase pursuant to the provisions of this Lease, within five (5) business days thereafter, Tenant within shall pay to Landlord as additional Deposit an amount equal to the timescales as laid out difference between the new Minimum Monthly Rent and the Minimum Monthly Rent in the Regulationseffect immediately prior to such increase. Where the Tenant requests the Landlord Landlord's obligations with respect to send the Deposit (or the balance are those of it) to an overseas bank account the a debtor and not a trustee. Landlord shall not be required to maintain the Deposit separate and apart from Landlord's general or other funds, and Landlord may commingle the Deposit with any of Landlord's general or other funds. Tenant shall not at any time be entitled to deduct interest on the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyDeposit.

Appears in 1 contract

Samples: Lease Agreement (Virage Inc)

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within the timescales laid out in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest shall be paid by the Landlord to the Tenant for the Deposit. 6.2 9.1 The Tenant agrees shall on the signing hereof and acknowledges that the Landlord will before it shall be entitled to retain sums from possession of the Deposit said premises at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start commencement of the Tenancy Period, save that said term and at such other times (if any) during the Deposit may not be used said term deposit and maintain with the Landlord the sum or sums specified in respect of damage by insured risks and repairs that are the responsibility Part VII of the Landlord First Schedule hereto (save hereinafter referred to as “the extent that said deposit”) to secure the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach observance and performance by the Tenant of the agreements, stipulations, terms and conditions herein contained and on the Tenant's obligations in ’s part to be observed and performed. The said deposit shall be retained by the Landlord throughout the said term and the currency of this tenancy agreement, including those relating Agreement free of any interest to the cleaning Tenant with the right for the Landlord (without prejudice to any other rights or remedy hereunder) to deduct therefrom the amount of the Accommodation any rent and the Common Parts other charges payable hereunder and their respective Contents. 6.2.3 Any unpaid accounts for utilities any costs expenses loss or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable damage sustained by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising Landlord as a result of any breach non-observance or non performance by the Tenant of their any of the said agreement, stipulations obligations or conditions, in which event the Tenant shall as a condition precedent to the continuation of the said term hereby created forthwith on demand by the Landlord deposit with the Landlord the amount so deducted and if the Tenant shall fail so to do the Landlord shall forthwith be entitled to re-enter on the said premises or any part thereof in the name of the whole and to determine this tenancy agreement (including Agreement but without prejudice to any right of action by the Landlord's and Agent's proper and reasonable costs Landlord in respect of enforcing any aforementioned outstanding breach or attempting to enforce non-observance or non performance by the Tenant's obligations . Increase of Deposit 9.2 Should increase in rent during the said term be provided for herein or should the Tenant’s share of the Air-Conditioning and Management Charges payable by the Tenant hereunder be increased, the Tenant shall upon such increase becoming applicable pay to the Landlord by way of an increase in the said deposit a sum proportional to the said increase in rent and/or Air-Conditioning and Management Charges in order to restore the ratio of the said deposit to the rent plus the Tenant’s share of the Air-Conditioning and Management Charges to that previously subsisting and the costs payment of instructing advisers) 6.3 such increase shall be a condition precedent to the continuation of this Agreement. Repayment of Deposit 9.3 Subject as aforesaid a sum equivalent to Clauses 6.1 or 6.2 the Deposit or part amount of the Deposit, if any, will said deposit shall be refunded to the Tenant by the Landlord without interest within forty five (45) days after the timescales as laid out in expiration of this Agreement and the Regulations. Where delivery of vacant possession of the said premises to the Landlord and after the settlement of the last outstanding claim by the Landlord against the Tenant requests the Landlord to send the Deposit (or the balance in respect of it) to an overseas bank account the Landlord shall be entitled to deduct the sum any arrears of £20 from the Deposit to cover the cost of the banking fee rent and transfer fee incurred other charges payable by the Landlord. If Tenant hereunder and any breach, non-observance or non-performance of any of the Deposit is due agreements, stipulations, terms and conditions herein contained and on the part of the Tenant to be returned at observed and performed whichever shall be the end later. For the avoidance of doubt, the parties hereto declare and acknowledge that the said deposit is not paid over and held hereunder as a trust property and/or upon any trust, express or implied, that the said deposit needs not be segregated from other monies of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyLandlord.

Appears in 1 contract

Samples: Tenancy Agreement (Highway Holdings LTD)

Deposit. 6.1 The Simultaneously with the execution of this Agreement, Purchaser is depositing as a good faith deposit Nine Hundred Ten Thousand Dollars ($910,000) (the "Deposit") with PNC Bank, National Association (the "Escrow Agent"), to be held, invested and disbursed pursuant to the terms of the Deposit will be paid into a tenancy deposit scheme within the timescales laid out Escrow Agreement in the Tenancy form of EXHIBIT C attached hereto (the "Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”Escrow Agreement"). No interest If the Closing occurs, then the Deposit and all earnings on the Deposit shall be paid by the Landlord to Purchaser pursuant to the Tenant Deposit Escrow Agreement and the full amount of the Deposit and the earnings thereon shall be credited against and deducted from the Purchase Price to be paid at the Closing by Purchaser for the Deposit. 6.2 The Tenant agrees Assets. If Seller terminates this Agreement in accordance with the provisions of Section 15.02(d) and, at the time of such termination Seller is not then in breach of any of its representations, warranties, covenants or agreements set forth in this Agreement to such an extent that Seller's breaches, in the aggregate, have caused or would reasonably be expected to cause Purchaser to suffer a Material Loss (as defined in Section 10.01) or otherwise result in a Material Adverse Effect (as defined in Section 10.01) and acknowledges that the Landlord will conditions set forth in Sections 10.04 and 10.05 would have been satisfied had Closing occurred on the date Seller terminates this Agreement, then Seller shall be entitled to retain sums from the Deposit at as liquidated damages (the end of this tenancy agreement in respect of: 6.2.1 Any damage"Liquidated Damages Amount"), or compensation for damage, to which Liquidated Damages Amount the Accommodation parties hereby agree is a fair and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start reasonable measure of the Tenancy Period, save damages that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating to the cleaning of the Accommodation and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or payable by the Tenant under this tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 6.2.5 Any loss arising Seller would sustain as a result of such termination. Notwithstanding anything else set forth in this Section 5.02, Seller's sole and exclusive recourse against Purchaser or any of its subsidiaries or affiliates for any breach by the Tenant Purchaser of their its representations or obligations in this tenancy agreement hereunder (including in the Landlord's and Agent's proper and reasonable costs event Seller terminates this Agreement in accordance with the provisions of enforcing or attempting Section 15.02(d)) shall be to enforce receive the Tenant's obligations and Liquidated Damages Amount. In any other case if the costs of instructing advisers) 6.3 Subject Closing does not occur, then, pursuant to Clauses 6.1 or 6.2 the Deposit or part of Escrow Agreement, the DepositDeposit and all earnings thereon shall be paid to Purchaser. All payments by the Deposit Escrow Agent shall be made, if any, will be refunded to in accordance with the Tenant within the timescales as laid out procedures and other provisions set forth in the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account the Landlord shall be entitled to deduct the sum of £20 from the Deposit to cover the cost of the banking fee and transfer fee incurred by the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancyEscrow Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Dobson Communications Corp)

Deposit. 6.1 The Deposit will be paid into a tenancy deposit scheme within Tenant shall on or before the timescales laid out execution of this Agreement pay to the Landlord the sum of $68,111.33 representing three (3) months' Rents together with GST thereon as mentioned in the Tenancy Deposit Schemes (Scotland) Regulations 2011 (“the Regulations”). No interest Clause 3.1 which shall be paid held by the Landlord to the Tenant as a deposit for the Deposit. 6.2 The Tenant agrees due observance and acknowledges that the Landlord will be entitled to retain sums from the Deposit at the end of this tenancy agreement in respect of: 6.2.1 Any damage, or compensation for damage, to the Accommodation and a share of any damage or compensation for damage to the Common Parts and their respective Contents for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the start of the Tenancy Period, save that the Deposit may not be used in respect of damage by insured risks and repairs that are the responsibility of the Landlord (save to the extent that the insurance has been invalidated due to the acts of the Tenant [or in respect of any excess]). 6.2.2 The reasonable costs incurred in compensating the Landlord and/or the Agent for, or for rectifying or remedying, any major breach performance by the Tenant of the Tenant's obligations in this tenancy agreement, including those relating covenants and conditions herein contained and the Landlord shall at the end or sooner determination of the term hereby created refund to the cleaning Tenant the said deposit free of the Accommodation interest less all costs and the Common Parts and their respective Contents. 6.2.3 Any unpaid accounts for utilities or other similar services or Council Tax incurred at the Accommodation for which the Tenant is liable. 6.2.4 Any Rent, Fees or other money due or expenses payable by the Tenant under this tenancy agreement of which hereunder PROVIDED ALWAYS that if the Tenant has been made aware fails to observe and which remains unpaid after the end perform any of the tenancy. 6.2.5 Any loss agreements and stipulations herein contained and on the Tenant's part to be observed and performed and shall not have remedied the same within seven (7) days from the date of the Landlord's notice specifying the breach complained of and requiring remedy of the same it shall be lawful for the Landlord to deduct from the said deposit such sum or sums as may be necessary and reasonable to make good and satisfy such damages and losses arising as a result from the Tenant's failure but without prejudice to the right of action of the Landlord against the Tenant in respect of any antecedent breach of any of the agreements or stipulations herein contained on the part of the Tenant to be observed and performed or any claim arising from the Tenant's failure as aforesaid in excess of the said deposit. Upon adjustment or revision of the Rents for the time being payable by the Tenant of their obligations in this tenancy agreement (including to the Landlord's and Agent's proper and reasonable costs of enforcing Landlord hereunder the said deposit shall likewise be adjusted or attempting to enforce the Tenant's obligations revised and the costs of instructing advisers) 6.3 Subject to Clauses 6.1 or 6.2 the Deposit or part of the Deposit, if any, will be refunded Tenant shall pay on demand to the Tenant within Landlord the timescales as laid out in difference thereof Provided Always that the Regulations. Where the Tenant requests the Landlord to send the Deposit (or the balance of it) to an overseas bank account sum held by the Landlord shall be entitled maintained so as to deduct represent at all times three (3) months' Rents together with GST thereon as aforesaid and shall not without the sum of £20 from the Deposit to cover the cost prior written consent of the banking fee and transfer fee incurred by Landlord be deemed to be or treated as payment of Rents or any part thereof or any sums owing to the Landlord. If any of the Deposit is due to be returned at the end of the tenancy, the Landlord will pay the refund to the Tenant, irrespective of who paid the Deposit to the Landlord at the start of the tenancy.

Appears in 1 contract

Samples: Tenancy Agreement (Novellus Systems Inc)

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