Increase in Deposit Clause Samples
The 'Increase in Deposit' clause establishes the conditions under which a party, typically the buyer in a transaction, must provide an additional deposit beyond the initial amount. This clause may specify triggers for the increase, such as the removal of contingencies, the passage of certain deadlines, or the occurrence of specific events during the transaction process. By requiring an increased deposit at a defined stage, the clause serves to demonstrate the buyer's continued commitment and financial capability, while also providing the seller with greater security and assurance as the deal progresses.
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Increase in Deposit. If there shall for whatever reason be any increase or increases in the rent and/or rates and/ or air-conditioning charge and/or service charge and/or promotional charge during the said term 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 rates air-conditioning charge service charge and/or promotional charge and the payment of such amount shall be a condition precedent to the continuation of the Tenancy.
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. 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. Onward Coworkx private Limited 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 Onward Coworkx private Limited 's fees when due.
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. 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. The amount of the said deposit shall be increased following each and any review (if any) in rent to current open market rent provided for herein to a sum equal to THREE ement and Air-Conditioning Charges at the rent, highest ascertainable rates payable during the said term, and the Tenant shall make payment to reflect such changes accordingly and the provisions of this Section IX shall apply to such further deposits and the provisions of Clauses 8.3 and 8.9 shall apply.
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. The amount of the deposit shall be increased following each and any increase in rent, management and air-conditioning charges and/or Government rates as provided for herein to a sum equal to three months’ rent plus three months’ management and air-conditioning charges and plus three months’ Government rates after the increase and the Tenant shall make payment to the Landlord of such additional sum as shall be required to bring the deposit up to the appropriate amount within fifteen days of each increase in rent, management and air-conditioning charges and/or Government rates and the provisions of this Section IX shall apply to such further deposits.
Increase in Deposit. If at any time during the currency of this Agreement the aggregate of the said rent and the said management fees then payable shall exceed the aggregate amount already paid by the Tenant on account of the said deposit, the Tenant shall fo11hwith pay to the Landlord such fu11her sum(s) as will be necessary to maintain the said deposit at three (3) months’ rent and management fees.