Common use of Refundable Security Deposit Clause in Contracts

Refundable Security Deposit. 4.1 By not later than January 6, 2014, Subtenant shall deposit with Sublandlord the sum of Two Hundred Thousand and No/100 Dollars ($200,000.00), which shall be held by Sublandlord as a refundable security deposit for Subtenant’s performance of all of the terms, covenants and conditions of this Sublease (the “Security Deposit”). Subtenant shall deposit with Sublandlord the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) on or before December 2, 2013 with the remainder provided to Sublandlord once the entire Sublease Premises have been vacated by any and all subtenants and delivered to Subtenant in an acceptable condition. If Subtenant defaults under any provision of this Sublease, Sublandlord may (but shall not be required to) use, apply or retain all or any part of this Security Deposit for the payment of Rent or Additional Rent or to reimburse Sublandlord for any amount Sublandlord may spend by reason of Subtenant’s default or to compensate Sublandlord for any loss or damage Sublandlord may suffer because of Subtenant’s default. If any portion of the Security Deposit is so used or applied, Subtenant shall, within ten (10) days after written demand, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to its original amount. Sublandlord is not required to keep the Security Deposit separate from its general funds, and Subtenant is not entitled to interest on the Security Deposit. If Subtenant is not then in default under this Sublease, Sublandlord shall return the Security Deposit, or any balance thereof, to Subtenant within thirty (30) days after the later of (a) the termination or expiration of the Sublease Term, and (b) the date Subtenant vacates the Sublease Premises.

Refundable Security Deposit. 4.1 By not later than January 6December 1, 2014, Subtenant shall deposit with Sublandlord the sum of Two One Hundred Thousand and No/100 Dollars ($200,000.00100,000.00), which shall be held by Sublandlord as a refundable security deposit for Subtenant’s performance of all of the terms, covenants and conditions of this Sublease (the “Security Deposit”). Subtenant shall deposit with Sublandlord the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) on or before December 2, 2013 with the remainder provided to Sublandlord once the entire Sublease Premises have been vacated by any and all subtenants and delivered to Subtenant in an acceptable condition. If Subtenant defaults under any provision of this Sublease, Sublandlord may (but shall not be required to) use, apply or retain all or any part of this Security Deposit for the payment of Rent or Additional Rent or to reimburse Sublandlord for any amount Sublandlord may spend by reason of Subtenant’s default or to compensate Sublandlord for any loss or damage Sublandlord may suffer because of Subtenant’s default. If any portion of the Security Deposit is so used or applied, Subtenant shall, within ten (10) days after written demand, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to its original amount. Sublandlord is not required to keep the Security Deposit separate from its general funds, and Subtenant is not entitled to interest on the Security Deposit. If Subtenant is not then in default under this Sublease, Sublandlord shall return the Security Deposit, or any balance thereof, to Subtenant within thirty (30) days after the later of (a) the termination or expiration of the Sublease Term, and (b) the date Subtenant vacates the Sublease Premises.

Refundable Security Deposit. 4.1 By not later than January 6, 2014, Subtenant shall A refundable security deposit with Sublandlord in the sum amount of Two One Hundred Eighty Thousand and No/100 Dollars ($200,000.00), which 180,000.00) shall be held delivered by Sublandlord as a refundable security deposit for Subtenant’s performance of all Tenant to Landlord on or before the Commencement Date ($130,000 of the terms, covenants Prepaid Rent for Base Rent for months 23 and conditions 24 of this Sublease the Initial Lease Term shall be included in such amount) (the “Security Deposit”). Subtenant shall deposit with Sublandlord Landlord and Tenant agree that: (i) $65,000 of the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) on or before December 2, 2013 with the remainder provided to Sublandlord once the entire Sublease Premises have been vacated by any and all subtenants and delivered to Subtenant in an acceptable condition. If Subtenant defaults under any provision of this Sublease, Sublandlord may (but shall not be required to) use, apply or retain all or any part of this Security Deposit shall be applied by Landlord for the payment of Base Rent or Additional Rent or for month 23 of the Initial Lease Term, when such amount is due and payable to reimburse Sublandlord for any amount Sublandlord may spend by reason of Subtenant’s default or to compensate Sublandlord for any loss or damage Sublandlord may suffer because of Subtenant’s default. If any portion Landlord; (ii) $65,000 of the Security Deposit shall be applied by Landlord for the payment of Base Rent for month 24 of the Initial Lease Term, when such amount is so used or applied, Subtenant shall, within ten due and payable to Landlord; and (10iii) days after written demand, deposit cash with Sublandlord in an amount sufficient to restore the remainder of the Security Deposit represents the reasonably estimated cost that will be incurred by Landlord to return the Leased Premises to its original amountcondition following expiration of the Lease Term in the event that Tenant does not return the Leased Premises to its original condition following expiration of the Lease Term pursuant to the terms and conditions of this Lease. Sublandlord is not Landlord shall be required to keep the Security Deposit separate from its general funds, and Subtenant is not entitled other accounts. In the event that Tenant makes alterations to interest or constructs additional improvements or installs equipment on the Leased Premises, such as and including Tenant’s Work, Landlord’s Security DepositDeposit shall be increased prior to Tenant commencing the construction of any such alteration or improvement or the installation of any such equipment to reflect Landlord’s reasonable estimate of the cost to return the Leased Premises to its original condition following expiration of the Lease Term in the event that Tenant does not return the Leased Premises to its original condition pursuant to the terms and conditions of this Lease. If Subtenant is not then in default under Tenant returns the Leased Premises to its original condition following expiration of the Lease Term, pursuant to the terms and conditions of this SubleaseLease, Sublandlord shall return the Security Deposit, or any balance thereof, Deposit shall be returned to Subtenant Tenant within thirty forty-five (3045) days after the later of (a) the termination or expiration of the Sublease Lease Term and otherwise, Landlord shall provide Tenant with an itemized list of any items to which the Security Deposit is to be applied within forty-five (45) days after the expiration of the Lease Term, and (b) the date Subtenant vacates the Sublease Premises.