Restoration Deposit. Licensee shall post a restoration deposit in the amount stated in Section 9.2 or other applicable section of any applicable Site License to assure restoration of the Site when Licensee vacates the Premises. Restoration deposit shall be in the form of a cashier’s check or other guaranteed form of payment or performance bond. No interest shall be paid on this deposit.
Restoration Deposit and No/100ths Dollars ($ ) payable ninety (90) days prior to the Expiration Date (as may be extended due to any extension of the Term).
Restoration Deposit. Tenant shall deposit the Restoration Deposit with Landlord at least ninety (90) days prior to the Expiration Date (subject to extension by the exercise of any right to extend the term of this Lease) as security for Tenant ’s obligations to surrender the Premises in the time and manner required under this Lease. If Tenant fails to comply with the surrender provisions hereunder, Landlord may use, apply or retain all or any portion of said deposit for the payment of any actual costs or other charges to which Landlord may become obligated by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Lessor may suffer thereby. Landlord shall not be required to keep said deposit separate from its general accounts. If Tenant performs all of Tenant’s obligations hereunder to be performed as of the date of the expiration or any early termination of this Lease, said deposit, or so much thereof as has not theretofore been applied by Landlord shall be returned, without payment of interest or other increment for its use to Tenant (or at Landlord’s option, to the last assignee, if any, of Tenant’s interest hereunder), within forty-five (45) days after such expiration or earlier termination date, and after Tenant has vacated the Premises. No trust relationship is created herein between Landlord and Tenant with respect to said Restoration Deposit. Tenant hereby agrees not to look to any mortgagee as mortgagee, mortgagee-in-possession or successor in title to the Premises for accountability for any Restoration Deposit required by Landlord hereunder, unless said sums have actually been received by said mortgagee as security for Tenant’s performance of this Lease. Landlord may deliver the funds deposited hereunder by Tenant to the purchaser of Landlord’s interest in the Premises, in the event that such interest is sold, and thereupon Landlord shall be discharged from any further liability with respect to said Restoration Deposit as long as such purchaser has assumed all of the obligations of the Landlord under this Lease from and after the effective date of such sale. The Restoration Deposit is not liquidated damages and does not limit the liability of Tenant hereunder.
Restoration Deposit. The Adopter Group shall be responsible for the restoration of public property to pre-garden conditions if:
Restoration Deposit. While Tenant occupied the Lucent Space under the Sublease, and during the Term of this Lease pursuant to Section 12, Tenant made and may make certain improvements to the Lucent Space (the "DISFAVORED IMPROVEMENTS") which Landlord may, in its sole discretion, want removed, reconfigured or otherwise altered in connection with any reletting of all or any portion of the Lucent Space following the expiration or termination of this Lease. To the extent such Disfavored Improvements are made by Tenant
Restoration Deposit. Concurrently with the execution of this Addendum, Landlord shall refund to Tenant $100,000 of the Security Deposit (the “Refund”). The Refund shall be deemed a full refund of the Security Deposit by Landlord with the remaining $35,000 to be deemed a new restoration deposit (the “Restoration Deposit”) made by the Tenant. The Restoration Deposit shall be in addition to and separate from the Security Deposit. If Tenant defaults with respect to the restoration obligations of the Tenant contained in Section 12 (Alterations) and elsewhere in the Lease, Landlord may (but shall not be required to) use, apply or retain all or any part of the Restoration Deposit for the payment of costs associated with Tenant’s breach of Tenant’s restoration obligations under the Lease. This Addendum and the Restoration Deposit shall not in any way limit Tenant’s restoration or other obligations under the Lease. Landlord shall not be required to keep the Restoration Deposit separate from its general funds, and Tenant shall not be entitled to interest on the Restoration Deposit. Provided that Tenant has fulfilled all Tenant’s restoration obligations under the Lease and is not then in default of any of Tenant’s restoration obligations, and shall not have defaulted, under any of the restoration provisions of the Lease without curing such default pursuant to the terms and conditions contained in the Lease, the Restoration Deposit shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) upon the completion of Tenant’s restoration obligations upon the expiration of the Term.
Restoration Deposit. Tenant shall deposit with Landlord on or before the Execution Date, in addition to the Security Deposit, a separate deposit, which may be cash or, at Tenant’s option, a letter of credit (if a letter of credit, a “Restoration Deposit Letter of Credit”), in the amount of One Million Six Hundred Thousand and 00/100 Dollars ($1,600,000.00) (the “Restoration Deposit”), which shall be retained by Landlord upon the expiration, surrender or termination of this Lease (and if such Restoration Deposit is in the form of a Restoration Deposit Letter of Credit, Landlord may draw the full amount of such Restoration Deposit Letter of Credit upon the expiration, surrender or termination of this Lease). Except as expressly provided in Sections 24.4 and 25.5 of the Lease, Tenant acknowledges and agrees that no part of the Restoration Deposit shall be refundable to Tenant. Notwithstanding the foregoing, in the event that no monetary default (without reference to notice and cure periods) or material non-monetary default (beyond applicable notice and cure periods) of Tenant under this Lease then exists and Tenant timely and properly exercises the first Option to extend the Lease for five (5) years pursuant to Section 41 of this Lease, then (a) the Restoration Deposit shall be reduced to Eight Hundred Thousand and 00/100 Dollars ($800,000.00) (provided that if the Restoration Deposit is in the form of a Restoration Deposit Letter of Credit, such reduction shall be on the condition that Tenant delivers a replacement Restoration Deposit Letter of Credit in the amount of Eight Hundred Thousand and 00/100 Dollars to Landlord pursuant to the provisions below). Furthermore, in the event that no monetary default (without reference to notice and cure periods) or material non-monetary default (beyond applicable notice and cure periods) of Tenant under this Lease then exists and Tenant timely and properly exercises the second Option to extend the Lease for an additional five (5) years pursuant to Section 41 of this Lease, then the Restoration Deposit shall be further reduced to zero ($0.00) (in which case, if the Restoration Deposit is in the form of a Restoration Deposit Letter of Credit, Landlord shall return to Tenant the Restoration Deposit Letter of Credit). Tenant acknowledges and agrees that except as otherwise expressly provided herein, upon the expiration, surrender or termination of this Lease Landlord may draw upon the Restoration Deposit Letter of Credit and use the then balan...
Restoration Deposit. Notwithstanding anything to the contrary in the Existing Lease, Section 11.7 of the Existing Lease (and all references to the Restoration Deposit throughout the Existing Lease) are hereby deleted from the Existing Lease in their entirety. Upon Tenant’s written request, Landlord shall return to Tenant the Restoration Deposit Letter of Credit.
Restoration Deposit. The Security Deposit and the Restoration Deposit are currently being held by Landlord in the form of a single letter of credit (“Existing LOC”). Upon receipt of the Release Payment and a substitute letter of credit in the amount of the Security Deposit, which substitute letter of credit satisfies all of the requirements of the Lease (“Substitute LOC”), Landlord shall return the Existing LOC to Tenant. Landlord acknowledges that, pursuant to the First Amendment, the Security Deposit will be reduced effective as of June 1, 2008 and Tenant may deliver a substitute letter of credit in connection therewith as set forth more particularly in the First Amendment.
Restoration Deposit. A Two Hundred ($200.00) Dollar restoration deposit for loss, damage, breakage, cleaning on the premise is paid herewith. Up to $160 shall be refunded to the Student upon termination of this lease, however, to being retained all or in part for failure to officially check out with the Xxxxxxxx University Housing Staff upon surrendering the premises, loss, damage, wear, unpaid bill, breakage, or restoration in the apartment by reason of Student occupancy therein. $40 will be automatically retained to be put towards the cost of carpet cleaning in the unit.
