Common use of Return of Security Deposit/Letter of Credit Clause in Contracts

Return of Security Deposit/Letter of Credit. If no default then exists, then Landlord, within twenty (20) Business Days after the end of the Term, will return the Security Deposit to Tenant, less such portion thereof as Landlord will have retained to cure any default by Tenant for any of Tenant’s obligations, conditions, or agreements under this Lease. Landlord may, at its discretion, hold the Security Deposit until a final determination is made of all Tenant’s obligations under this Lease; provided, however, that such determination will be made no later than one hundred twenty (120) days after the end of the calendar year in which the Term expires.