Payment on Lease Execution Clause Samples

Payment on Lease Execution. Tenant shall pay Landlord upon execution hereof the sum specified in the Salient Lease Terms as a Security Deposit. This sum is designated as a Security Deposit and shall remain the sole and separate property of Landlord until actually repaid to Tenant (or at Landlord's option the last assignee, if any, of Tenant's interest hereunder), said sum not being earned by Tenant until all conditions precedent for its payment to Tenant have been fulfilled. As this sum both in equity and at law is Landlord's separate property, Landlord shall not be required to (1) keep said deposit separate from his general accounts, or (2) pay interest, or other increment for its use. If Tenant fails to pay rent or other charges when due hereunder, or otherwise defaults with respect to any provision of this Lease, including and not limited to Tenant's obligation to restore or clean the Leased Premises following vacation thereof, Tenant, at Landlord's election, shall be deemed not to have earned the right to repayment of the Security Deposit, or those portions thereof used or applied by Landlord for the payment of any rent or other charges in default, or for the payment of any other sum to which Landlord may become obligated by reason of Tenant's default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. Landlord may retain such portion of the Security Deposit as it reasonably deems necessary to restore or clean the Leased Premises following vacation by Tenant. The Security Deposit is not to be characterized as rent until and unless so applied in respect of a default by Tenant. Tenant hereby waives the provisions of Section 1950. 7 of the California Civil Code, and all other provisions of law, now or hereafter in force, 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 reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant.

Payment on Lease Execution. Lessee shall pay Lessor upon execution hereof the sum specified in Section 1.6. This sum is designated as a Security Deposit and shall remain the sole and separate property of Lessor until actually repaid to Lessee (or at Lessor’s option the last assignee, if any, of ▇▇▇▇▇▇’s interest hereunder), said sum not being earned by Lessee until all conditions precedent for its payment to Lessee have been fulfilled. As this sum both in equity and at law is ▇▇▇▇▇▇’s separate property, Lessor shall not be required to (1) keep said deposit separate from its general accounts, or (2) pay interest, or other increment for its use. If Lessee fails to pay Rent or other charges when due hereunder, or otherwise defaults with respect to any provision of this Lease, including and not limited to Lessee’s obligation to restore or clean the Leased Premises following vacation thereof, Lessee, at Lessor’s election, shall be deemed not to have earned the right to repayment of the Security Deposit, or those portions thereof used or applied by Lessor for the payment of any Rent or other charges in default, or for the payment of any other sum to which Lessor may become obligated by reason of ▇▇▇▇▇▇’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. Lessor may retain such portion of the Security Deposit as it reasonably deems necessary to restore or clean the Leased Premises following vacation by ▇▇▇▇▇▇, reasonable wear and tear excepted. The Security Deposit is not to be characterized as Rent until and unless so applied in respect of a default by ▇▇▇▇▇▇. Notwithstanding the foregoing, provided Lessee remains in full compliance of this Lease and ▇▇▇▇▇▇ leaves the Leased Premises as described above, Lessor shall refund the Security Deposit to Lessee within thirty (30) days of the expiration or sooner termination of this Lease.

Payment on Lease Execution. Tenant shall pay Landlord, within seven (7) Business Days following the execution hereof the sum specified in the Salient Lease Terms as a Security Deposit. This sum is designated as a Security Deposit and shall remain the sole and separate property of Landlord until actually repaid to Tenant, said sum not being earned by Tenant until all conditions precedent for its payment to Tenant have been fulfilled. As this sum both in equity and at law is Landlord’s separate property, Landlord shall not be required to (1) keep said deposit separate from his general accounts, or (2) pay interest, or other increment for its use. If Tenant fails to pay Rent or other charges when due hereunder beyond applicable notice and cure periods, or otherwise Defaults with respect to any provision of this Lease, including and not limited to Tenant’s obligation to restore or clean the Leased Premises following vacation thereof in accordance with Section 27.2 below beyond applicable notice and cure periods, Landlord may, without prejudice to any other remedy, use all or a portion of the Security Deposit (i.e., draw on the Letter of Credit) to satisfy past due Rent or to cure any uncured Default by Tenant or to compensate Landlord for its damages resulting therefrom, as permitted by applicable law. Landlord may retain such portion of the Security Deposit as it reasonably deems necessary to restore or clean the Leased Premises following vacation by Tenant. The Security Deposit is not to be characterized as rent until and unless so applied in respect of a Default by Tenant.

Payment on Lease Execution. On the Effective Date, Lessee shall pay to Lessor the sum specified in Section 1.7 hereof ("Security Deposit"). In the event Lessee fails to pay any item of rent when due hereunder or otherwise defaults with respect to any other covenant or obligation of Lessee under this Lease, in addition to any other rights and remedies of Lessor pursuant to this Lease, Lessor may use or retain all or any part of the Security Deposit for the payment of rent or other charges in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. Lessor may retain such portion of the Security Deposit as it reasonably deems necessary to restore or clean the Leased Premises following vacation by Lessee. The Security Deposit is not characterized as rent until and unless so applied in respect of a default by Lessee.