Common use of SECURITY DEPOSIT AND SECURITY INTEREST Clause in Contracts

SECURITY DEPOSIT AND SECURITY INTEREST. 29.01 Upon execution hereof, Tenant shall deliver to Landlord cash in the amount set forth in Paragraph 1.01(j), above, which Landlord is to retain as security for the faithful performance of all the covenants, conditions and agreements of this Lease, but in no event shall Landlord be obligated to apply the same upon rents or other charges in arrears or upon damages for Tenant's failure to perform the said covenants, conditions, and agreements; Landlord may so apply the security at its option, and Landlord's right to the possession of the Premises for nonpayment of rent or for any other reason shall not in any event be affected by reason of the fact that Landlord holds this security. The said sum, if not applied toward the payment of rent in arrears or toward the payment of damages suffered by Landlord by reason of Tenant's breach of the covenants, conditions and agreements of this Lease, is to be returned, without interest thereon, to Tenant when this Lease is terminated, and fully performed by Tenant, according to these terms, and in no event is the said security to be returned until Tenant has vacated the Premises and delivered possession to Landlord. 29.02 In the event that Landlord repossesses the Premises because of Tenant's default or because of Tenant's failure to carry out the covenants, conditions and agreements of this Lease, Landlord may apply the said security upon all damages suffered to the date of said repossession and may retain the said security to apply upon such damages as may be suffered or shall accrue thereafter by reason of Tenant's default or breach. Landlord shall not be obligated to keep the said security as a separate fund, but may mix the said security with its own funds. In the event Landlord shall use any part of the Security Deposit, Tenant shall, upon demand, deposit with Landlord the full amount so used, in order that Landlord shall have the full Security Deposit on hand at all times during the Term of this Lease. In the event of a sale or lease of the Building and the transfer of the Security Deposit to the purchaser or lessee, Landlord shall be released from all liability for the return of the Security Deposit. Tenant shall have no legal power to assign or encumber the Security Deposit herein described.

SECURITY DEPOSIT AND SECURITY INTEREST. 29.01 Upon execution hereof, Tenant shall deliver to Landlord cash a Letter of Credit in the amount set forth in Paragraph Section 1.01(j), above, and Exhibit D, which Landlord is to retain as security for the faithful performance of all the covenants, conditions and agreements of this Lease, but in no event shall Landlord be obligated to apply the same upon rents or other charges in arrears or upon damages for Tenant's failure to perform the said covenants, conditions, and agreements; Landlord may so apply the security at its option, and Landlord's right to the possession of the Premises for nonpayment of rent or for any other reason shall not in any event be affected by reason of the fact that Landlord holds this security. The said sum, if not applied toward the payment of rent in arrears or toward the payment of damages suffered by Landlord by reason of Tenant's breach of the covenants, conditions and agreements of this Lease, is to be returned, without interest thereon, to Tenant when this Lease is terminated, and fully performed by Tenant, according to these terms, and in no event is the said security to be returned until Tenant has vacated the Premises and delivered possession to Landlord. 29.02 In the event that Landlord repossesses the Premises because of Tenant's default or because of Tenant's failure to carry out the covenants, conditions and agreements of this Lease, Landlord may apply the said security upon all damages suffered to the date of said repossession and may retain the said security to apply upon such damages as may be suffered or shall accrue thereafter by reason of Tenant's default or breach. Landlord shall not be obligated to keep the said security as a separate fund, but may mix the said security with its own funds. In the event Landlord shall use any part of the Security Deposit, Tenant shall, upon demand, deposit with Landlord the full amount so used, in order that Landlord shall have the full Security Deposit on hand at all times during the Term of this Lease. In the event of a sale or lease of the Building and the transfer of the Security Deposit to the purchaser or lessee, Landlord shall be released from all liability for the return of the Security Deposit. Tenant shall have no legal power to assign or encumber the Security Deposit herein described. 29.03 To secure the faithful performance of all covenants, conditions and agreements of this Lease to be performed and observed by Tenant and to secure the payment of all rent and other sums which may be due Landlord under this Lease, Tenant hereby grants Landlord a security interest in all property, equipment, fixtures, chattels, inventory and general intangibles and the proceeds thereof, whether now owned or hereafter acquired, which may at any time be placed in or upon the Leased Premises or used or useable in connection with Tenant's business (collectively the "Collateral"). Landlord agrees to execute and deliver to Tenant after Tenant has executed such instrument subordinating this Lease to the lien of the security interest in the form attached hereto as Exhibit F. Upon the occurrence of an Event of Default, Landlord may exercise any of its rights and remedies provided by the Uniform Commercial Code. The proceeds of any such sale, after payment of Landlord's expenses, shall be applied to the payment of Tenant's obligations hereunder and satisfaction of such Event of Default. Enforcement of this security interest shall be in addition to and shall not waive, alter, limit or affect in any manner any other remedies available to Landlord. Tenant agrees that upon Landlord's request it shall execute and deliver all such financing statements as may be necessary to perfect this security interest. Provided no Event of Default exists under the terms of this Lease, then within thirty (30) days after the expiration of the Term, Landlord shall deliver all such termination statements as Tenant may reasonably request, whereupon the security interest granted by this Section 29 shall terminate.

SECURITY DEPOSIT AND SECURITY INTEREST. 29.01 Upon execution hereof, Tenant shall deliver to Landlord cash in the amount set forth in Paragraph 1.01(j), above, which Landlord is to retain as security for the faithful performance of all the covenants, conditions and agreements of this Lease, but in no event shall Landlord be obligated to apply the same upon rents or other charges in arrears or upon damages for Tenant's failure to perform the said covenants, conditions, and agreements; Landlord may so apply the security at its option, and Landlord's right to the possession of the Premises for nonpayment of rent or for any other reason shall not in any event be affected by reason of the fact that Landlord holds this security. The said sum, if not applied toward the payment of rent in arrears or toward the payment of damages suffered by Landlord by reason of Tenant's breach of the covenants, conditions and agreements of this Lease, is to be returned, without interest thereon, to Tenant when this Lease is terminated, and fully performed by Tenant, according to these terms, and in no event is the said security to be returned until Tenant has vacated the Premises and delivered possession to Landlord. 29.02 In the event that Landlord repossesses the Premises because of Tenant's default or because of Tenant's failure to carry out the covenants, conditions and agreements of this Lease, Landlord may apply the said security upon all damages suffered to the date of said repossession and may retain the said security to apply upon such damages as may be suffered or shall accrue thereafter by reason of Tenant's default or breach. Landlord shall not be obligated to keep the said security as a separate fund, but may mix the said security with its own funds. In the event Landlord shall use any part of the Security Deposit, Tenant shall, upon demand, deposit with Landlord the full amount so used, in order that Landlord shall have the full Security Deposit on hand at all times during the Term of this Lease. In the event of a sale or lease of the Building and the transfer of the Security Deposit to the purchaser or lessee, Landlord shall be released from all liability for the return of the Security Deposit. Tenant shall have no legal power to assign or encumber the Security Deposit herein described. 29.03 To secure the faithful performance of all covenants, conditions and agreements of this Lease to be performed and observed by Tenant and to secure the payment of all rent and other sums which may be due Landlord under this Lease, Tenant hereby grants Landlord a security interest in all property, equipment, fixtures, chattels, inventory and general intangibles and the proceeds thereof, whether now owned or hereafter acquired, which may at any time be placed in or upon the Leased Premises or used or useable in connection with Tenant's business (collectively the "Collateral"

SECURITY DEPOSIT AND SECURITY INTEREST. 29.01 Upon execution hereof, Tenant shall deliver to Landlord cash in the amount set forth in Paragraph 1.01(j1.01 (j), above, which Landlord is to retain as security for the faithful performance of all the covenants, conditions and agreements of this Lease, but in no event shall Landlord be obligated to apply the same upon rents or other charges in arrears or upon damages for Tenant's failure to perform the said covenants, conditions, and agreements; Landlord may so apply the security at its option, and Landlord's right to the possession of the Premises for nonpayment of rent or for any other reason shall not in any event be affected by reason of the fact that Landlord holds this security. The said sum, if not applied toward the payment of rent in arrears or toward the payment of damages suffered by Landlord by reason of Tenant's breach of the covenants, conditions and agreements of this Lease, is to be returned, without interest thereon, to Tenant when this Lease is terminated, and fully performed by Tenant, according to these terms, and in no event is the said security to be returned until Tenant has vacated the Premises and delivered possession to Landlord. 29.02 In the event that Landlord repossesses the Premises because of Tenant's default or because of Tenant's failure to carry out the covenants, conditions and agreements of this Lease, Landlord may apply the said security upon all damages suffered to the date of said repossession and may retain the said security to apply upon such damages as may be suffered or shall accrue thereafter by reason of Tenant's default or breach. Landlord shall not be obligated to keep the said security as a separate fund, but may mix the said security with its own funds. In the event Landlord shall use any part of the Security Deposit, Tenant shall, upon demand, deposit with Landlord the full amount so used, in order that Landlord shall have the full Security Deposit on hand at all times during the Term of this Lease. In the event of a sale or lease of the Building and the transfer of the Security Deposit to the purchaser or lessee, Landlord shall be released from all liability for the return of the Security Deposit. Tenant shall have no legal power to assign or encumber the Security Deposit herein described. 29.03 To secure the faithful performance of all covenants, conditions and agreements of this Lease to be performed and observed by Tenant and to secure the payment of all rent and other sums which may be due Landlord under this Lease. Tenant hereby grants Landlord a security interest in all property, equipment, fixtures, chattels, inventory and general intangibles and the proceeds thereof, whether now owned or hereafter acquired, which may at any time be placed in or upon the Leased Premises or used or useable in connection with Tenant's business (collectively the "Collateral"

SECURITY DEPOSIT AND SECURITY INTEREST. 29.01 Upon execution hereof, Tenant shall deliver to Landlord cash in the amount set forth in Paragraph 1.01(j), above, which Landlord is to retain as security for the faithful performance of all the covenants, conditions and agreements of this Lease, but in no event shall Landlord be obligated to apply the same upon rents or other charges in arrears or upon damages for Tenant's failure to perform the said covenants, conditions, and agreements; Landlord may so apply the security at its option, and Landlord's right to the possession of the Premises for nonpayment of rent or for any other reason shall not in any event be affected by reason of the fact that Landlord holds this security. The said sum, if not applied toward the payment of rent in arrears or toward the payment of damages suffered by Landlord by reason of Tenant's breach of the covenants, conditions and agreements of this Lease, is to be returned, without interest thereon, to Tenant when this Lease is terminated, and fully performed by Tenant, according to these terms, and in no event is the said security to be returned until Tenant has vacated the Premises and delivered possession to Landlord. 29.02 In the event that Landlord repossesses the Premises because of Tenant's default or because of Tenant's failure to carry out the covenants, conditions and agreements of this Lease, Landlord may apply the said security upon all damages suffered to the date of said repossession and may retain the said security to apply upon such damages as may be suffered or shall accrue thereafter by reason of Tenant's default or breach. Landlord shall not be obligated to keep the said security as a separate fund, but may mix the said security with its own funds. In the event Landlord shall use any part of the Security Deposit, Tenant shall, upon demand, deposit with Landlord the full amount so used, in order that Landlord shall have the full Security Deposit on hand at all times during the Term of this Lease. In the event of a sale or lease of the Building and the transfer of the Security Deposit to the purchaser or lessee, Landlord shall be released from all liability for the return of the Security Deposit. Tenant shall have no legal power to assign or encumber the Security Deposit herein described. 29.03 To secure the faithful performance of all covenants, conditions and agreements of this Lease to be performed and observed by Tenant and to secure the payment of all rent and other sums which may be due Landlord under this Lease, Tenant hereby grants Landlord a security interest in all property, equipment, fixtures, chattels, inventory and general intangibles and the proceeds thereof, whether now owned or hereafter acquired, which may at any time be placed in or upon the Leased Premises or used or useable in connection with Tenant's business (collectively the "Collateral"). Upon the occurrence of an Event of Default, Landlord may exercise any of its rights and remedies provided by the Uniform Commercial Code. The proceeds of any such sale, after payment of Landlord's expenses, shall be applied to the payment of Tenant's obligations hereunder and satisfaction of such Event of Default. Enforcement of this security interest shall be in addition to and shall not waive, alter, limit or affect in any manner any other remedies available to Landlord. Tenant agrees that upon Landlord's request it shall execute and deliver all such financing statements as may be necessary to perfect this security interest. Provided no Event of Default exists under the terms of this Lease, then within thirty (30) days after the expiration of the Term, Landlord shall deliver all such termination statements as Tenant may reasonably request, whereupon the security interest granted by this Section 29 shall terminate.