INITIAL INSTALLMENT. Simultaneously with the execution of this Lease, Tenant has paid to Landlord, and Landlord hereby acknowledges the receipt of, the Initial Installment. Such sum shall be applied by Landlord to the first monthly installment(s) of Base Rental as they become due hereunder. In the event Tenant fails to take possession of the Premises in accordance with all the terms hereof, such sum shall be retained by Landlord for application in reduction, but not in satisfaction, of damages suffered by Landlord as a result of such breach by Tenant.
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Samples: Office Lease (Quality Systems Inc), Place Office Lease (Medialink Worldwide Inc), Place Office Lease (RMS Titanic Inc)
INITIAL INSTALLMENT. Simultaneously with the execution of this Lease, Tenant has paid shall pay to Landlord, and Landlord hereby acknowledges the receipt of, the Initial Installment. Such sum shall be applied by Landlord to the first monthly installment(s) of Base Rental Rent as they become due hereunder. In the event Tenant fails to take possession of the Premises in accordance with the all the terms hereof, such sum shall be retained by Landlord for application in reduction, but not in satisfaction, of damages suffered by Landlord as a result of such breach by Tenant.
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