Forfeiture of Security Deposit. The Chandigarh Transport Undertaking shall have absolute rights and powers for forfeiture of said Security Deposit, in case of breach of any clause of this Agreement, without any prior notice and no claim whatsoever on this count shall be entertained.
Forfeiture of Security Deposit. In the event of damage to any landscaping, sprinkler systems, restrooms, buildings, artifacts, and/or any property contained within the Park by User, User's guests, employees, or agents, the security deposit will be applied toward the repair and/or replacement of all damages. In the event damages exceed the amount of the Security Deposit, User will be responsible to pay the balance of all remaining outstanding costs related to the repair or replacement of all damages.
Forfeiture of Security Deposit. In case the Institute is obliged to make any recoveries on any account from the Security Deposit of the service provider, the service provider shall be obliged to make good the Security Deposit amount within a period of 10 (ten) days after the receipt of information in this regard, failing which the service provider shall have to pay an interest of 12 percent per annum for the period of delay in making good the Security Deposit.
Forfeiture of Security Deposit. Whenever the contract is rescinded as a whole under clause 62 (1) of these conditions, the Security Deposit already with railways under the contract shall be forfeited. However, in case the contract is rescinded in part or parts under clause 62 (1) of these conditions, the Security Deposit shall not be forfeited.
Forfeiture of Security Deposit. The Security Deposit shall be forfeited in favor of GHL in the event the Merchant pre-terminates this EDC Lease Agreement prior to the expiration of the term, breach by the Merchant of any obligation, or violation of any term, condition, restrictions, in this EDC Lease Agreement, and/or loss or damage of the EDC Equipment due to the negligence of Merchant. The forfeiture of the Security Deposit shall be without prejudice to whatever damages may be due GHL arising from or due to breach of contract and event of default. The forfeiture of the Security Deposit shall not be construed as a waiver by GHL of the performance by the Merchant of its obligations herein nor excuse the Merchant from complying with its obligations under this Terms and Conditions and the Agreement.
Forfeiture of Security Deposit. The security deposit of any persons whose tender is accepted shall be forfeited in cases of-
a) Who fails to execute the agreement within 30 days on receipt of letter of acceptance.
b) Who fails to carry out any of the conditions mentioned above.
c) Who fails to carry out the provisions of the agreement.
d) The successful tenderer has to run the contract to its full term of 05 (five) years. No premature with drawl will be permitted. The total security deposit will be forfeited if he withdraws from the contract in the middle of the contract period.
Forfeiture of Security Deposit. The Railway administration reserves the right to forfeit Security Deposit/deduct the dues from the lease holder on the following grounds:
4.1 Forfeiture:
a) In the event of failure of the highest bidder/ allottee of the contract to start loading within the stipulated period,
b) if the leaseholder terminates the contract before completion of one year contract period
Forfeiture of Security Deposit. Tenant acknowledges that Landlord is currently holding, pursuant to the terms of the Lease, a security deposit in the form of a Standby Letter of Credit in the current face amount of $60,000.00 (the "Letter of Credit Security Deposit"). As a condition precedent to the termination of the Lease, and in consideration for Landlord's agreement to the early termination of the Lease and Landlord's agreement to release Tenant from its obligations under the Lease from and after the Surrender Date, the said Security Deposit shall irrevocably be forfeited by Tenant and set over to Landlord; provided, however, that in lieu of Landlord drawing down on the Letter of Credit Security Deposit, Tenant shall pay Landlord, within five (5) business days of the Asset Sale Closing Date, the amount of $60,000.00, either in the form of a cashier's or treasurer's check or by wire transfer of immediately available federal funds. Provided that Tenant surrenders and vacates the Premises on or before the Surrender Date pursuant to the terms hereof and in the condition required by the terms of the Lease, Landlord shall return the Letter of Credit Security Deposit to Tenant in accordance with the terms of Article 6 of the Lease.
Forfeiture of Security Deposit. Xxxxxxxx’x security deposit in the amount of $1,400.00 is forfeit in favor of Singers.
Forfeiture of Security Deposit. Whenever any claim against the Contractor for the payment of a sum of money arises out of or under the contract, the Owner shall be entitled to recover such sum by appropriating in part or whole, security deposit of the contractor, forming whole or part of such security being insufficient or if no security has been taken from the Contractor then the balance or the total sum recoverable, as the case may be, shall be deducted from any sum then due or which at any time thereafter may become due to the Contractor. The contractor shall pay to the owner on demand any balance remaining due.
