PREPAID RENT AND SECURITY DEPOSITS. All prepaid rentals, tenant security deposits, whether cash or non-cash (including security deposits for tenants who owe rent or other charges as of the Closing), together with all interest required to be paid thereon which has accrued through the Closing, shall be delivered to Purchaser at the Closing. Promptly following the Closing, Seller shall cause any tenants who have posted letters of credit as security deposits to have such security deposits amended or re-issued so that they run to the benefit of Purchaser as landlord under the Leases.
Appears in 11 contracts
Samples: Purchase and Sale Agreement (Midlantic Office Trust, Inc.), Purchase and Sale Agreement (Midlantic Office Trust, Inc.), Purchase and Sale Agreement (Midlantic Office Trust, Inc.)
