Lease Security Deposit. The Tenant shall prior to taking occupation of the premises pay a cash deposit amounting to 150% (one and half times) of the Gross Monthly Rental (as per the Offer Schedule). Interest on the deposit shall accrue to the Tenant at Standard Bank’s basic savings rate. Occupation of the premises may not be taken by the Tenant until the deposit and first month’s rental has been paid to the Landlord. The Tenant shall have no right to a reduction in Gross Monthly Rental should occupation be withheld as a result of failure to pay the aforesaid deposit and/or rental timeously.
Appears in 7 contracts
Samples: Offer to Lease, Offer to Lease, Offer to Lease
