Interest Free Refundable Security Deposit Sample Clauses

Interest Free Refundable Security Deposit. (IFRSD) 8.1.1 THE LESSEE shall pay and always maintain the IFRSD as per details given in Annexure-C-I(a) with THE LESSOR, during the Lease Term and the Lease Renewal Term, if any. 8.1.2 The aforesaid IFRSD shall automatically stand proportionately increased and payable upon escalation in Warm Shell Rent, as mentioned in Annexure C-I(a) of this Lease Deed and shall be paid by THE LESSEE along with the first payment of the escalated Warm Shell Rent to THE LESSOR.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Interest Free Refundable Security Deposit. 1. In addition to the payment of the Rent and the CAM Charges, payable by the Lessee to the Lessor, the Lessee shall simultaneously with the execution of this Deed, deposit and keep deposited with the Lessor, a sum of Rs. 59,05,800/- (Rupees Fifty Nine Lacs Five Thousand Eight Hundred only) as interest free refundable security deposit (hereinafter referred to as the “IFRSD”), which shall always be maintained as equivalent to 3 (Three) months’ prevailing Rent plus CAM Charges, for the due observance and performance of the terms and conditions of this Deed by the Lessee. The IFRSD has been paid by the Lessee vide Cheque No.930597 drawn on Yes Bank Limited. South Ext. Part-II. New Delhi, dated 04.07.2012 for Rs.l8,52,800/- (Rupees Eighteen Lacs Fifty Two Thousand and Eight Hundred Only) and vide Cheque No. drawn on Bank , dated for Rs.40,53,000/- (Rupees Forty Lacs Fifty three Thousand Only), (subject to the realization), and the receipt whereof is acknowledged by the Lessor herein. 2. The IFRSD shall not carry any interest and shall be refunded by the Lessor to the Lessee as per the terms and conditions set forth in this Deed. 3. The Lessor shall, subject to the Lessee having paid and cleared all the dues, including payment of arrears of Rent, arrears of the Common Area Maintenance Charges, electricity dues or any other dues payable under this Deed either to the Lessor or to the concerned authorities, including arrears of interest accrued there in, if any, as the case may be, refund the whole of the IFRSD to the Lessee, simultaneously with the expiry or prior termination of this Deed. Therefore, in the event of any amount/s having remained unpaid by the Lessee, including arrears of the Rent and/or the Common Area Maintenance Charges at the time of expiry or prior termination hereof, then the Lessor, shall be entitled to deduct such unpaid amounts from the IFRSD and refund the balance of the IFRSD to the Lessee. 4. In the event the Lessor fails or neglects to refund the IFRSD, as stated above and subject to fulfillment of conditions therein, the Lessee shall have the right to continue in the possession of the Demised Premises without payment of the Rent and CAM Charges and also claim and recover the IFRSD balance with interest at 15% (Fifteen percent) per annum from the date of termination of this Deed till the date of receipt of balance receivable amount of IFRSD.
Sample 1
Interest Free Refundable Security Deposit. The Lessee shall pay to the Lessor an interest free Security Deposit of Rs. 1,09,76,955/- (Rupees One Crore Nine Lakhs Seventy Six Lakhs Nine Hundred Fifty Five only) equivalent to the Rental for a period of 10 months (“Security Deposit”). A part of the Security Deposit, i.e INR 49,33,305 (Rupees Forty Nine Lakhs Thirty Three Thousand Three Hundred and Five only) has been paid by the Lessee at the time of execution of the LOI vide wire transfer. The break up is as follows: 10-05-2016 NEFTINW- 0041215414 14,00,000 12-05-2016 NEFTINW- 0041291585 15,00,000 12-05-2016 NEFTINW- 0041300879 15,00,000 13-05-2016 NEFTINW- 0041371157 5,33,305 The remainder of the Security Deposit amounting to Rs 60,43,650 (Rupees Sixty Lakhs Forty Three Thousand Six Hundred and Fifty only) is hereby paid by the Lessee on the Effective Date. The Lessor hereby confirms receipt of the full Security Deposit. Upon expiry of the Lease Deed or earlier termination of this Lease Deed, the Lessor shall refund the entire Security Deposit to the Lessee simultaneous to the Lessee handing over the vacant and peaceful possession of the Demised Premises save reasonable wear and tear to the Lessor. In the event of failure to refund the Security Deposit, the Lessor shall be liable to pay interest @ 18% p.a. till actual payment and the Lessee shall be entitled to retain the possession of the Demised Premises without being liable to pay Rental and be exempt from any liability to the Lessor in any manner. However the Lessee is liable to pay for the maintenance, electricity and chiller charges during this duration.
Sample 1
Interest Free Refundable Security Deposit. 5.1 The Licensee shall deposit with the Licensor 3 (Three) Months Monthly License Fee equivalent to Rs. 75,00,000 ( Rupees Seventy Five Lakhs) as Interest free refundable Security Deposit (hereinafter referred to as the “Security Deposit”) as under: a. for Ground floor :- a sum of Rs.42,00,000/- (Rupees Forty Two Lakhs Only) Interjuris, Advocates & Associates 7 b. for first floor :- a sum of Rs. 33,00,000/- (Rupees Thirty Three Lakhs Only) aggregating to a sum of Rs.75,00,000/- (Rupees Seventy five Lakhs Only) (“Interest Free Refundable Security Deposit”) to the Licensor on the execution of these presents or on such date as may be mutually agreed between the Parties. The Licensor shall hold the Interest Free Refundable Security Deposit during the Licensed Period and the Licensor shall refund the said Interest Free Refundable Security Deposit to the Licensee in accordance with the provisions of this Agreement.
Sample 1
Interest Free Refundable Security Deposit. The Lessee shall deposit and keep deposited with the Lessor on execution hereof a sum of Rs.2,15,54,205.50/- (Rupees Two Crores Fifteen Lakhs Fifty Four Thousand Two Hundred and Five and paisa Fifty Only) as and by way of an Interest Free Refundable Security Deposit (hereinafter “IFRSD”) to secure the obligations of the Lessee under this Lease. Against the said IFRSD amount, the Lessor acknowledges and confirms that a sum of Rs.1,87,42,787/- (Rupees One Crore Eighty-Seven Lakhs forty-two thousand seven hundred and eighty seven only)has been deposited by the Lessee with the Lessor to secure the obligations under the Lease Deed dated 12th December 2017. An additional sum of Rs.28,11,418/- (Rupees Twenty Eight Lakhs Eleven Thousand Four Hundred and Eighteen only) shall be deposited on or before 29th February 2020.
Sample 1
Interest Free Refundable Security Deposit a) The Plot Owner agrees that for the purpose of securing its payment obligations to METL for the Water Supply and Services provided under this Agreement, the Plot Owner shall pay an interest free security deposit to METL equal to the aggregate of all the Water Supply Charges and Waste Water Treatment Charges payable for 3 (three) months’ supply of the Sanctioned Limit along with applicable Taxes (hereinafter referred to as “IFRSD”), to secure the payment obligations of the Plot Owner to METL. b) In case the actual Water drawn for two consecutive months exceeds the Sanctioned Limits, then the Sanctioned Limit shall be deemed to be enhanced to such increased Water consumption and the provisions of this Agreement with respect to payment of Water Supply Charges, Waste Water Treatment Charges and IFRSD shall apply on the basis of such enhanced Sanctioned Limit. c) In the event of any increase in the Sanctioned Limit, the Plot Owner shall within a period of 30 (thirty) days after being notified by METL pay such further amounts to METL so as to ensure that the IFRSD is equivalent to the aggregate of the Water Supply Charges and the Waste Water Treatment Charges along with applicable Taxes payable for 3 (three) months based on the enhanced Sanctioned Limit. d) In the event of suspension or cancellation of the Water Supply and Services due to delay in payment/non-payment of invoice by the Plot Owner, METL shall have the right to appropriate and set-off any such amount from out of the IFRSD or any part thereof to settle any dues towards any outstanding invoices raised by METL and/or its authorized agencies in relation to any services availed by the Plot Owner.
Sample 1
Interest Free Refundable Security Deposit. The Incubatee hereby agrees to deposit Rs 25,000/- (Twenty Five Thousand Only) as an interest free security deposit with FIRST, through a Demand Draft or a Banker’s Cheque, which shall be refunded to the incubatee at its exit from FIRST after deducting outstanding dues and/or after adjusting for any potential cost to FIRST if any.
Sample 1
AutoNDA by SimpleDocs
Interest Free Refundable Security Deposit. 3.1. The LESSEE shall pay to the LESSOR by way of interest free refundable security deposit which is equivalent to 6 (Six) months Rent and shall be returned / refunded on expiry of the term of this Lease Deed or early termination of this same Lease, as the case may be. 3.2. The LESSOR shall adjust the interest free refundable security deposit towards any amount/s dues and/or defaulted by the LESSEE payable to the LESSOR, for damages caused to the Leased Premises/furniture and fixtures or otherwise, and/or to any third Party service provider in relation to the amenities availed of in the Leased Premises, in which case/s, the LESSEE shall immediately make good, all such short falls. 3.3. In the event, the LESSOR does not refund the Security Deposit on the expiry of the Lease or on sooner determination of the LESSEE thereof the LESSEE reserves the right to continue to occupy the said Leased Premises without payment of Rent fees until the LESSOR refunds the entire amount of Security deposit of subject to deductions as aforesaid. Refund of the Security Deposit shall be subject to the LESSEE handing over the vacant and peaceful possession of the said Leased Premises to the LESSOR. Likewise, the handing over of the possession of the said Leased Premises to the LESSOR shall be subject to the refund of the Security deposit by the LESSOR.
Sample 1
Interest Free Refundable Security Deposit. 5.1) The Lessee shall pay an interest-free, refundable security deposit of Rs.45,36,000/- (Rupees Forty-five lakhs thirty-six thousand only) (the “Security Deposit”). The Security Deposit may be held by the Lessors until the Expiration Date or the earlier termination of the Agreement (as permitted herein). The Security Deposit shall be paid to the Lessors in the following manner: (i) Rs.29,48,400/- (Twenty-nine lakhs forty-eight thousand four hundred only) in favor of Lessor No. 1. (ii) Rs.15,87,600/- (Fifteen Lakhs eighty-seven thousand six hundred Only) in favor of Lessor No. 2 5.2) The Security Deposit shall be refunded by the Lessors to the Lessee at the time of Lessee vacating and delivering possession of the Premises to the Lessors upon the Expiration Date or such earlier termination of this Agreement, subject to mutually agreed deductions (if any) for past due Rent, electricity charges, water charges or recovery/repair charges for any damage to the Premises, ordinary wear and tear excepted. The Lessors shall be jointly and severally liable for the refund of the entire Security Deposit to the Lessee.
Sample 1

Related to Interest Free Refundable Security Deposit

  • Additional Security Deposit No additional security deposit shall be required in connection with this Amendment.

  • Security Deposit Tenant has deposited or concurrently herewith is depositing with Landlord the sum set forth in Article 1.F. of the Basic Lease Provisions as security for the full and faithful performance of every provision of this Lease to be performed by Tenant. If Tenant breaches any provision of this Lease, including but not limited to the payment of rent, Landlord may use all or any part of this security deposit for the payment of any rent or any other sums in default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of said deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit funds with Landlord in a form acceptable under Section 3(b) above and in an amount sufficient to restore the security deposit to its full amount. Tenant agrees that Landlord shall not be required to keep the security deposit in trust, segregate it or keep it separate from Landlord's general funds, but Landlord may commingle the security deposit with its general funds and Tenant shall not be entitled to interest on such deposit. At the expiration of the Term, and provided there exists no default by Tenant hereunder, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to Tenant's "Transferee", as such term is defined in Article 15 below), provided that subsequent to the expiration of this Lease, Landlord may retain from said security deposit (i) an amount reasonably estimated by Landlord to cover potential Direct Cost reconciliation payments due with respect to the calendar year in which this Lease terminates or expires (such amount so retained shall not, in any event, exceed ten percent (10%) of estimated Direct Cost payments due from Tenant for such calendar year through the date of expiration or earlier termination of this Lease and any amounts so retained and not applied to such reconciliation shall be returned to Tenant within thirty (30) days after Landlord's delivery of the Statement for such calendar year), (ii) any and all amounts reasonably estimated by Landlord to cover the anticipated costs to be incurred by Landlord to remove any signage provided to Tenant under this Lease, to remove cabling and other items required to be removed by Tenant under Section 29(b) below and to repair any damage caused by such removal (in which case any excess amount so retained by Landlord shall be returned to Tenant within thirty (30) days after such removal and repair), and (iii) any and all amounts permitted by law or this Article 4. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code and all other provisions of law, now or hereafter in effect, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums specified in this Article 4 above, and all of Landlord's damages under this Lease and California law including, but not limited to, any damages accruing upon termination of this Lease under Section 1951.2 of the California Civil Code and/or those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the acts or omissions of Tenant or any officer, employee, agent, contractor or invitee of Tenant.

  • Rent and Security Deposit i. Tenant agrees to pay to Landlord for the Leased Premises in lawful money of the United States rent for the first twelve (12) months of the term hereof at the rate of Fifteen Dollars ($15.00) per square foot of occupied space, in advance, except that the monthly installment which otherwise shall be due on the commencement date recited above, shall be due and payable on the date hereof. Thereafter one such monthly installment shall be due and payable without demand on or before the first day of each calendar month succeeding the commencement date; further provided, that the rental payment for any fractional calendar month at the commencement or end of the Lease term shall be prorated. The rate charged for rent shall increase by $0.50 (Fifty Cents) per year for each such succeeding twelve (12) month period. ii. In addition, Tenant agrees to deposit with Landlord on the date hereof the sum of One Thousand Dollars ($1,000.00), which sum shall be held by Landlord, without obligation for interest, as security for the full, timely and faithful performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such funds to the extent necessary to make good any arrears of rent or other payments due to Landlord hereunder, and any other damage, injury, expense or liability caused by any event of Tenant's default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease when Landlord shall have determined that all Tenant's obligations under this Lease have been fulfilled. Subject to the other terms and conditions contained in this Lease, if the Building is conveyed by Landlord, said deposit may be turned over to Landlord's grantee, and if so, Tenant hereby releases Landlord from any and all liability with respect to said deposit and its application or return.

  • Cash Deposit No cash will be deposited into the certificate account on the closing date.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one)

  • CONTRACT FEE An annual charge for administration expenses made on each contract anniversary prior to the Maturity Date.

  • Additional Deposit For reasons of administration, the right is reserved to require payment by parents of an additional deposit (Additional Deposit), as shown on the fees list for the relevant year, in the case of a pupil whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Pupil leaves and will be repaid by means of a credit without interest to the final payment of Fees or other sums due to the School on leaving, unless stated otherwise in these terms and conditions. See also clause 9.8.

  • Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.

  • Assignment Fee Unless the assignment shall be to an affiliate of the assignor or the assignment shall be due to merger of the assignor or for regulatory purposes, either the assignor or the assignee shall remit to Agent, for its own account, an administrative fee of Three Thousand Five Hundred Dollars ($3,500).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!