Increase in Deposit. The Deposit shall throughout the Term be maintained at the level stated in Item 5 of the Third Schedule. If the Rent or Service Charge has been increased in accordance with the provisions of this Agreement then the Deposit shall be increased proportionately and the Tenant shall within fourteen (14) days of demand furnish to the Landlord in cash or by way of a fresh bank guarantee an amount equivalent to the increment in the Deposit.
Increase in Deposit. Urban Desk may require the Client to pay an increased deposit if outstanding fees exceed by 50% of the deposit held and/or the Client frequently fail to pay Urban Desk’s fees when due.
Increase in Deposit. Not less than ten (10) days prior to the commencement of the Tenant Improvements for Phase II of the Premises, Tenant shall deliver to Landlord a second Letter of Credit (“Phase II Letter of Credit”) equal to Three Hundred Fifty Thousand Dollars ($350,000.00). If, upon the Commencement Date for the Phase II Premises, the final Tenant Improvements Cost for the Phase II Premises paid by Landlord is less than Seven Hundred Thousand Dollars ($700,000.00) then the amount of the Letter of Credit may be reduced to an amount equal to one-half (1/2) of the final Tenant Improvements Cost for Phase II paid by Landlord; The Phase II Letter of Credit required in this Section 3.4.3 shall be in addition to any Letter of Credit required pursuant to Section 3.4.2, and shall meet all requirements for the Letter of Credit in Section 3.4.2 (other than amount). The amount of Phase II Letter of Credit (the lesser of Three Hundred Fifty Thousand Dollars ($350,000.00) or one-half (1/2) of the final Tenant Improvements Cost for Phase II paid by Landlord) shall be reduced by the following amounts on the following dates or events:
(a) On each anniversary of the Commencement Date for the Phase II Premises, the Phase II Letter of Credit shall be reduced by twenty (20%) on a straight-line basis so that the Phase II Letter of Credit will be totally diminished by the fifth anniversary of the Commencement Date for the Phase II Premises (“Phase II Annual Reductions”); and
(b) The Phase II Letter of Credit shall be reduced by twenty percent (20%) as each of the following events occur (each, a “Phase II Event Reduction):
1. A second corporate partnering transaction of joint venture of $5,000,000 or more which may consist of, but is not limited to, license payments, cost sharing payments, milestone payments or equity investment;
2. Tenant achieves FDA approval of Tenant’s second drug product;
3. Tenant achieves product sales, excluding any contract revenues and licensing fees, of $5,000,000 or more;
4. Tenant achieves product sales, excluding any contract revenues and licensing fees, of $10,000,000 or more; and
5. Tenant achieves product sales, excluding any contract revenues and licensing fees, of $15,000,000 or more. As provided in Section 3.4.2(c) above, a Phase II Annual Reduction will not occur in any Lease Year in which a Phase II Event Reduction occurs. However, two or more Phase II Event Reductions may occur in any Lease Year. Notwithstanding anything to the contrary in this Section 3...
Increase in Deposit. If there shall for whatever reason be any increase in the rent and/or Management Fee and Air-Conditioning Charge and/or rates and Government rent during the Term, the Tenant shall upon such increase becoming applicable pay to the Landlord as a condition precedent to the continuation of the tenancy by way of increase in the said deposit a sum proportional to the said increase to restore the ratio of deposit to the rent and Management Fee and Air-Conditioning Charge and rates and Government rent to that previously subsisting.
Increase in Deposit. Workon Centre may require the Client to pay an increased deposit if outstanding fees exceed by 50% of the deposit held and/or the Client frequently fail to pay Workon Centre fees when due.
Increase in Deposit. During the said term the Tenant shall maintain the said deposit at the sum equal to three (3) months' rent and management and air-conditioning fees and one (1) quarter's rates (as estimated by the Landlord or as assessed by the Government, as the case may be) in the event that the rent or the management and air-conditioning fees or the rates shall be increased the Tenant shall forthwith on demand pay to the Landlord the additional amount to make up the said deposit.
Increase in Deposit. Incorporating the above items and upon execution of this addendum, Lessee shall pay a security deposit of $6,776, and 1st months rent of $6,776, for a total increase in deposit of $13,552.
Increase in Deposit. Subject to the provisions of this Clause 16.2, the Deposit shall be maintained at an amount equivalent to the sum set out in Item 4(a)(i) of the Third Schedule of the Lease for the Initial Period (as defined hereinafter). If the Rent for the Initial Period is increased in accordance with the provisions of the Lease (save for the increment in Rent further to the yearly rent escalation of 2% per annum on the preceding year’s Rent set out in Item 3 of the Third Schedule of the Lease), then the Deposit shall be increased proportionately and the Tenant shall within 14 Days of demand furnish to the Landlord in cash (or by way of a fresh bank guarantee in accordance with Clauses 16.4 to 16.6) an amount equivalent to the increment in the Deposit. Upon the Tenant’s exercise of the Phase 2 Works Option and the Phase 3 Works Option, the Deposit shall be increased by an amount equivalent to 36 months of the Phase 2 Rent as stated in Item 4(b) of the Third Schedule of the Lease and by 36 months of the Phase 3 Rent as stated in Item 4(c) of the Third Schedule of the Lease. The Tenant shall immediately pay to the Landlord such increase in the amount of the Deposit by way of a fresh bank guarantee (in accordance with Clauses 16.4 to 16.6) and additionally, such bank guarantee shall (a) in respect of the Deposit payable upon the exercise of the Phase 2 Works Option (“Phase 2 Works Option Deposit”) be on the same terms and bear the same expiry date as the Bank Guarantee issued in respect of the Initial Period and shall (b) in respect of the Deposit payable upon the exercise of the Phase 3 Works Option (“Phase 3 Works Option Deposit”) be on the same terms and bear the same expiry date as the Bank Guarantee issued in respect of the Second Period (as defined in the Lease); or the Tenant may combine the Phase 2 Works Option Deposit and the Phase 3 Works Option Deposit with the Initial Period Sum and furnish a fresh bank guarantee for the aggregate amount which bank guarantee shall be on the same terms and bear the same expiry date as the Bank Guarantee issued in respect of the Second Period, which aggregate amounts shall be maintained for a period of 10 years from the Lease Commencement Date.
Increase in Deposit. Pursuant to the terms of an Escrow Agreement dated August 24, 2000 (as amended by a letter amendment dated March 23, 2001, the "Escrow Agreement"), by and among the Company, Classic and Escrow Holder (as defined therein), Classic previously deposited with Escrow Holder the aggregate amount of $1,500,000 (the "DEPOSIT") to be held and disbursed by Escrow Holder in accordance with the terms of the Escrow Agreement. Purchaser and Classic agree to increase the Deposit to $3,000,000 by depositing an additional $1,500,000 with Escrow Holder not later than fifteen (15) business days after the date of mailing of the Company's definitive Proxy Statement to its shareholders. Purchaser's or Classic's failure to so increase the Deposit on or before such date shall be deemed to be a Purchaser Material Breach. At the time such additional deposit is made, the parties to the Escrow Agreement will enter into a second amendment to the Escrow Agreement in substantially the form of the letter amendment dated March 23, 2001.
Increase in Deposit. Commencing on the date that is thirty (30) days after the “County” (as defined in Section 7(a)(13)) obtains the “Approvals” (as defined in Section 7(a)(14)) and continuing on a monthly basis every thirty (30) days thereafter until Closing, Buyer shall increase the Deposit in increments of One Hundred Thousand and No/100 Dollars ($100,000.00) by delivery to Escrow Agent of Buyer’s additional check, additional current funds, or additional or substitute Credit having an expiration date no earlier than fifteen (15) days after the anticipated Closing Date (subject to subsequent extensions of such expiration date, as hereinafter provided) (the “Monthly Deposit Increases”). Such Monthly Deposit Increases shall be applied to the Purchase Price payable by Buyer at Closing and shall, for all purposes of this Amended and Restated Contract, be deemed a part of the Deposit and governed by the terms and conditions set forth in this Amended and Restated Contract relating to the Deposit.
