Common use of REFUND OF SECURITY DEPOSIT Clause in Contracts

REFUND OF SECURITY DEPOSIT. ① In the event that this agreement is terminated due to expiration or rescission of the lease agreement or other reasons, the Lessor shall refund the security deposit to the Lessee within ten(10) days after the delivery of the premises. However, in the event that there are charges or debt outstanding, the Lessor deduct from the security deposit, all the charges and debt which the Lessee is liable to pay to the Lessor, and refund the balance to the Lessor. ② In the event that the Lessor fails to refund to the Lessee the security deposit within 10 days owing to a reason attributable to the Lessor, the Lessor shall pay the security deposit plus arrears applying an annual interest of 18 % until the date of refund from the day overdue.

REFUND OF SECURITY DEPOSIT. ① (1) In the event that this agreement is terminated due to expiration or rescission of the lease agreement or other reasons, the Lessor shall refund the security deposit to the Lessee within ten(10) days after the delivery of the premises. However, in the event that there are charges or debt outstanding, the Lessor deduct from the security deposit, all the charges and debt which the Lessee is liable to pay to the Lessor, and refund the balance to the Lessor. ② . (2) In the event that the Lessor fails to refund to the Lessee the security deposit within 10 days owing to a reason attributable to the Lessor, the Lessor shall pay the security deposit plus arrears applying an annual interest of 18 % until the date of refund from the day overdue.

REFUND OF SECURITY DEPOSIT. ①  In the event that this agreement is terminated due to expiration or rescission of the lease agreement or other reasons, the Lessor shall refund the security deposit to the Lessee within ten(10) days after the delivery of the premises. However, in the event that there are charges or debt outstanding, the Lessor deduct from the security deposit, all the charges and debt which the Lessee is liable to pay to the Lessor, and refund the balance to the Lessor. ② ‚ In the event that the Lessor fails to refund to the Lessee the security deposit within 10 days owing to a reason attributable to the Lessor, the Lessor shall pay the security deposit plus arrears applying an annual interest of 18 % until the date of refund from the day overdue.