Lease Deposits. (a) Medquist shall use its best efforts to cause the landlord under each Assumed Lease to return to Sellers, at or prior to Closing, any and all amounts held as a security deposit under each such Assumed Lease (such amounts, collectively, the “Lease Security Deposits”), including by depositing any amount with such landlord or securing a letter of credit or similar commitment for the benefit of such landlord, as required or contemplated by such Assumed Lease as a security deposit.
(b) Medquist shall pay Sellers at Closing by wire transfer of immediately available funds, in addition to the consideration required pursuant to Section 2.5, an amount in cash equal to the Purchased Lease Security Deposits (such payments, the “Security Deposit Payments”).
Lease Deposits. Within ten (10) Business Days after Closing, Buyer agrees to replace all letters of credit posted by the Company or the Sellers as lease deposits on real estate and personal property leased in connection with the Business, which letters of credit and lease deposit are described in all material respects in Section 8.2 of the Sellers' Disclosure Schedule.
Lease Deposits. 39 Table of Contents (continued)
Lease Deposits. All rights of Seller in and to all deposits, initial service fees and advances of any kind or nature from any tenant of the Property (“Lease Deposits”).
Lease Deposits. Tenant will pay the following deposits upon execution hereof LAST MONTH’S RENT + ADD’L RENT DEP+ Sales Tax:$7,040 (est) SECURITY DEPOSIT: $10,000 BY/TITLE: XXXXXXXX X. MINIAC I - President BY/TITLE 0000 XX 00xx XXXXXX XXXXXXX XXXXX, XXXXXXX 00000 PREMISES: SW 00 XXXXXX (x/x/x XXX #0), XXXXXXX XXXXX, XXXXXXX 00000 TEL NUMBER: : EMAIL: DUE DATE: DAY OF EACH MONTH AUTHORIZED BY: (SIGN) NAME: (PRINT)
Lease Deposits. Buyer shall receive a credit at Closing in an amount equal to the aggregate amount of all security and other deposits of tenants under the Leases which have not been applied to the tenants’ obligations in accordance with the terms of such Leases and past practice as of the Closing Date.
Lease Deposits. On the Closing Date, Seller will deliver to Buyer in cash, as a credit against the Purchase Price or as an adjustment to the prorations provided for elsewhere in this Section 14, as appropriate, an amount equal to all cash deposits (including without limitation security, operating expense and tax deposits together with interest thereon pursuant to the applicable Lease or law) made by tenants under the Leases which have not been applied by Seller pursuant to the Leases and as permitted by this Agreement. Seller shall coordinate the transfer of security deposits under Leases which are in the form of letters of credit (“Letters of Credit”) to Buyer as follows: (i) for Letters of Credit which are transferable, at Closing Seller shall deliver to Buyer originals of such Letters of Credit together with completed transfer forms required by the issuer to assign the beneficial interest in the Letter of Credit to Buyer and (ii) for Letters of Credit which are not transferable, Seller shall use commercially reasonable efforts to have such Letters of Credit re-issued in the name of Buyer or transferred to Buyer at Closing; provided, however, that in the event any Letters of Credit are not transferred to Buyer or reissued in Buyer’s name at Closing, Seller covenants to take such actions after the Closing Date which are reasonably necessary to effect such transfer or reissuance, as applicable. All transfer or reissuance fees imposed by issuers of such Letters of Credit shall be paid by Seller. In addition, if any Letters of Credit are not transferred or reissued at Closing then, until they are transferred or reissued to Buyer, Seller shall, if requested by Buyer, present such Letters of Credit for payment and deliver the proceeds thereof to Buyer, and Buyer shall indemnify and hold harmless Seller in connection therewith. The covenants of Seller described in this Section 14.1.7 shall survive the Closing.
Lease Deposits. Schedule 6.10 sets forth a true and correct list of -------------- all Lease Deposits.
Lease Deposits. 37 7.06. Management Information Systems..................................38 7.07. Bonus Payments to PGPA Physicians...............................38 7.08. Physician Benefit Plans.........................................38 7.09. Access and Information..........................................38 ARTICLE VIII -- CONDITIONS TO THE OBLIGATIONS OF PURCHASERS 8.01. Accuracy of Sellers' Representations............................40 8.02. Performance of Sellers' Agreements..............................40 -ii-
Lease Deposits. Sellers shall instruct the landlord of each Leased Real Property to remit any existing lease deposit to Sellers; provided, however, that if a landlord does not agree to remit such lease deposit to Sellers with respect to any Leased Real Property, Purchasers shall pay to Sellers an amount equal to the lease deposit currently in place with respect to such Leased Real Property, subject to reduction by any amounts claimed or withheld by any landlord for any reason.
