Common use of Initial Security Deposit Clause in Contracts

Initial Security Deposit. After Lessor obtains a building permit to perform Lessor's Work in the Premises, Lessee shall, within 5 business days after it receives Lessor's request therefore, deposit with Lessor that sum identified in the Basic Lease Information as the Security Deposit as security for the full performance by Lessee of its obligations hereunder. If the Security Deposit is not received within said 5-day period, Lessor may delay performance of Lessor's Work until the full Security Deposit is received, and Lessor may delay delivery of the Premises one day for each day Lessee is late in depositing the same, but base Rental (or abatement thereof pursuant to Section 3.5) shall nevertheless be due on the Commencement Date, notwithstanding any other provisions in this Lease. If Lessee defaults under any provision hereof Lessor shall be entitled, at its option, to apply and retain all or any part of the Security Deposit for the payment of any Rent or other sum in default or any other amount which Lessor may spend or become obligated to spend because of Lessee's default, or to compensate Lessor for any other loss or damage which Lessor has suffered because of Lessee's default. If any portion of the Security Deposit is so used or applied, Lessee shall, within five (5) business days after written demand, deposit cash with Lessor in an amount sufficient to restore the Security Deposit to its original amount, and Lessee's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep the Security Deposit separate from its general funds, and Lessee shall not be entitled to interest on the Security Deposit. If Lessee fully performs every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Lessee within 30 days after the expiration of the term of this Lease or any period of holding over with the written consent of Lessor. Lessor's rights with respect to the Security Deposit shall be in addition to and shall not preclude concurrent, alternative or successive exercise of any other rights or remedies available to Lessor.

Initial Security Deposit. After Lessor obtains Concurrently with Subtenant’s execution of this Sublease, Subtenant shall deposit with Sublandlord a building permit to perform Lessor's Work letter of credit in the Premisesamount of $1,062,869.33 (the “Security Deposit”). The letter of credit shall be in form and substance acceptable to Sublandlord in its reasonable discretion. If such letter of credit is issued for less than the entire Term, Lessee shallit shall be for a term of no less than one year and shall be renewed at least 60 days prior to its expiration. In the final year of the Term, within 5 business days after it receives Lessor's request thereforesuch letter of credit shall be renewed for a period through two months beyond the Lease Termination Date. The Security Deposit shall secure the full and complete performance of each provision of this Sublease to be performed by Subtenant, deposit with Lessor that sum identified including, but not limited to, the payment of Rent and all other sums required to be paid by Subtenant under this Sublease. Except as required in the Basic Lease Information as this Section, Sublandlord shall not be required to pay interest on the Security Deposit as security for the full performance by Lessee of its obligations hereunder. If or to keep the Security Deposit is separate from Sublandlord’s own funds. If Subtenant fails to perform any or all of Subtenant’s covenants and obligations and has not received cured such non-performance within said 5-day periodall applicable notice, Lessor may delay performance of Lessor's Work until the full Security Deposit is receivedcure and or grace periods under this Sublease, and Lessor may delay delivery of the Premises one day for each day Lessee is late in depositing the sameSublandlord may, but base Rental (or abatement thereof pursuant without obligation to Section 3.5) shall nevertheless be due do so, draw on any letter of credit to the Commencement Date, notwithstanding any other provisions in this Lease. If Lessee defaults under any provision hereof Lessor shall be entitled, at its option, to apply and retain all or any part of the Security Deposit extent required for the payment of any Rent such non-performance only, and otherwise retain or other sum in default apply all or any other amount which Lessor may spend or become obligated to spend because of Lessee's default, or to compensate Lessor for any other loss or damage which Lessor has suffered because of Lessee's default. If any portion of the Security Deposit is toward the fulfillment of Subtenant’s unperformed covenants and/or obligations. If Sublandlord does so used retain or appliedapply any portion of the Security Deposit, Lessee shall, within five (5) business days after written demand, deposit Subtenant shall immediately pay Sublandlord cash with Lessor in an amount sufficient to restore the Security Deposit to its original amount, and Lessee's failure the amount prior to do so shall be a material breach such application. Upon the expiration or sooner termination of this Lease. Lessor Sublease, after Subtenant vacates and surrenders the Subleased Premises in accordance with the terms hereof, except to the extent that Subtenant is in default (and then only to the extent of such default), Sublandlord shall not be required return to keep Subtenant any balance of the Security Deposit separate from its general fundsnot applied or retained by Sublandlord and any letter of credit, and Lessee if Subtenant remains in default, then Sublandlord may draw on any letter of credit and otherwise subtract the amount necessary to cure the default, if any, and return the balance (and the letter of credit, if applicable) to Subtenant. If the Security Deposit at any time is cash, it shall not be maintained in an interest bearing account and Subtenant shall be entitled to all interest on earned thereon less the deduction for administrative expenses permitted pursuant to Section 7-103 of the General Obligations Law. In the event of an assignment by Sublandlord of its interest in the Master Lease, Sublandlord shall have the right to transfer the Security Deposit to the assignee, and Sublandlord shall thereupon be released for the return of the Security Deposit. If Lessee fully performs every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Lessee within 30 days after the expiration of the term of this Lease or any period of holding over with the written consent of Lessor. Lessor's rights with respect to the Security Deposit shall be in addition to and shall not preclude concurrent, alternative or successive exercise of any other rights or remedies available to Lessor.

Initial Security Deposit. After Lessor obtains a building permit to perform Lessor's Work in the Premises, Lessee shall, within 5 Within five (5) business days after it receives Lessor's request thereforethe date ------------------------ this Lease is executed by Lessee, Lessee shall deposit with Lessor that sum identified a Security Deposit equal to eighteen (18) month's estimated Base Rent in the Basic amount of Ten Million, Nine Hundred Seven Thousand, Seven Hundred Seventy-Six Dollars ($10,907,776.00) in the form of cash or an unconditional, irrevocable standby letter of credit without documents, i.e., no obligation on Lessor's part to present anything but a sight draft, with Lessor as beneficiary (or, at Lessor's option, as co-beneficiary with Lessor's Lender), drawable in whole or in part, providing for payment in San Francisco on presentation of Lessor's drafts on sight, providing for multiple draws and multiple successors and otherwise both from a bank and in a form acceptable to Lessor, including, without limitation, in a form identical to or similar to that attached to this Lease Information as Exhibit __ (the "Security Deposit"). The Security Deposit shall be held by Lessor as security for the full faithful performance by Lessee of its obligations hereunder. If all of the Security Deposit is not received within said 5-day periodterms, Lessor may delay performance of Lessor's Work until the full Security Deposit is receivedcovenants, and Lessor may delay delivery conditions of the Premises one day for each day Lessee is late in depositing the same, but base Rental (or abatement thereof pursuant this Lease applicable to Section 3.5) shall nevertheless be due on the Commencement Date, notwithstanding any other provisions in this LeaseLessee. If Lessee defaults under with respect to any provision hereof of this Lease, including but not limited to the provisions relating to the condition of the Premises upon Lease Termination, Lessor may (but shall not be entitledrequired to) use, at its option, to apply and or retain all or any part of the Security Deposit for the payment of any Rent or other sum in default or any other amount which Lessor may spend or become obligated to spend because by reason of Lessee's default, default or to compensate Lessor for any other loss or damage which Lessor has suffered because may suffer by reason of Lessee's defaultdefault and if all or any part of the Security Deposit is in the form a of a letter of credit, Lessor may draw on all or any part of same and thereafter retain any unapplied portion as a cash Security Deposit. If any portion of the Security Deposit is so used or applied, Lessee shall, within five (5) business ten days after written demanddemand therefor, deposit cash (or a replacement letter of credit in form and substance subject to the same requirements as the original letter of credit) with Lessor in an amount sufficient to restore the Security Deposit to its original amount, and . Lessee's failure to do so shall be a material default and breach of this LeaseLease by Lessee. The rights of Lessor shall not be required pursuant to keep the Security Deposit separate from its general funds, and Lessee shall not be entitled this Section 4.06. are in addition to interest on the Security Depositany rights which Lessor may have pursuant to Article 12 below. If Lessee fully and faithfully performs every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned (without interest) to Lessee within 30 days after the expiration of the term of this Lease or any period of holding over with the written consent of Lessor. (or, at Lessor's rights with respect option, to the last assignee of Lessee's interests hereunder) at Lease expiration or termination and after Lessee has vacated the Premises. Lessor shall not be required to keep the Security Deposit shall separate from Lessor's general funds or be deemed a trustee of same. If the Security Deposit is in addition whole or in part in the form of a letter of credit, failure of Lessee to and shall not preclude concurrent, alternative or successive exercise deliver a replacement letter of credit to Lessor at least forty-five (45) business days prior to the expiration date of any other rights or remedies available current letter of credit shall constitute a separate default entitling Lessor to Lessordraw down immediately and entirely on the current letter of credit and the proceeds shall constitute a cash Security Deposit.

Initial Security Deposit. After Lessor obtains a building permit Subject to perform Lessor's Work in the PremisesSection 5.4, Lessee shall, within 5 business days after it receives Lessor's request therefore, deposit with shall deliver to Lessor that sum identified upon execution of this Lease the amount set forth in Article XVI of the Basic Lease Information as the Security Deposit as security for the full performance by Lessee of its obligations hereunder. If the hereunder (“Security Deposit is not received within said 5-day period, Lessor may delay performance of Lessor's Work until the full Security Deposit is received, and Lessor may delay delivery of the Premises one day for each day Lessee is late in depositing the same, but base Rental (or abatement thereof pursuant to Section 3.5) shall nevertheless be due on the Commencement Date, notwithstanding any other provisions in this LeaseDeposit”). If Lessee defaults under any provision hereof hereof, Lessor shall be entitled, at its option, to immediately apply and retain all or any part of the Security Deposit for the payment of any Rent or other sum in default or any other amount which Lessor may spend or become obligated to spend because of Lessee's ’s default, or to compensate Lessor for any other loss or damage which Lessor has suffered because of Lessee's ’s default. If any portion of the Security Deposit is so used or applied, Lessee shall, within five (5) business days after written demand, deposit cash with Lessor in an amount sufficient to restore the Security Deposit to its original amountthe amount required in said Article XVI of the Basic Lease Information (subject to Section 5.4), and Lessee's ’s failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep any cash comprising the Security Deposit separate from its general funds, and Lessee shall not be entitled to interest on the Security Deposit. If Lessee fully performs every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Lessee within 30 thirty (30) days after the expiration of the term of this Lease Term or any period of holding over with the written consent of Lessor. Lessor's ’s rights with respect to the Security Deposit shall be in addition to and shall not preclude concurrent, alternative or successive exercise of any other rights or remedies available to Lessor.

Initial Security Deposit. After Lessor obtains a building permit to perform Lessor's Work in the Premises, Lessee shall, within 5 business days after it receives Lessor's request therefore, shall deposit with Lessor throughout the Lease Term a cash deposit or a letter of credit that sum identified satisfies the requirements set forth in the Basic Lease Information as the Security Deposit Section 5.3 below (“Letter of Credit”) as security for the full performance by Lessee of its obligations hereunder. If the hereunder (“Security Deposit is not received within said 5-day period, Lessor may delay performance of Lessor's Work until the full Security Deposit is received, and Lessor may delay delivery of the Premises one day for each day Lessee is late in depositing the same, but base Rental (or abatement thereof pursuant to Section 3.5) shall nevertheless be due on the Commencement Date, notwithstanding any other provisions in this LeaseDeposit”). If Lessee defaults under any provision hereof hereof, Lessor shall be entitled, at its option, to immediately apply the cash deposit or draw on the Letter of Credit then on deposit with Lessor (unless already drawn upon and converted to cash as provided in Section 5.3) and apply and retain all or any part of the Security Deposit for the payment of any Rent or other sum in default or any other amount which due Lessor may spend or become obligated to spend under this Lease because of Lessee's default, or ’s default and the balance of such Security Deposit shall continue to compensate be maintained by Lessor for any other loss or damage which Lessor has suffered because of Lessee's defaultas the Security Deposit. If any portion of the Security Deposit is so used or applied, Lessee shall, within five fifteen (515) business days after written demand, deposit cash (or a Letter of Credit in lieu thereof) with Lessor in an amount sufficient to restore satisfy the required amount for the Security Deposit to its original amountDeposit, and Lessee's ’s failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep any cash comprising the Security Deposit separate from its general funds, and Lessee shall not be entitled to interest on the Security Deposit. If Lessee fully performs every provision of this Lease to be performed by it, the Security Deposit Deposit, or any balance thereof thereof, shall be returned to Lessee within 30 15 business days after the expiration of the term of this Lease Term or any period of holding over with the written consent of Lessor. Lessor's ’s rights with respect to the Security Deposit shall be in addition to and shall not preclude concurrent, alternative or successive exercise of any other rights or remedies available to Lessor.