Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.
Security Deposit As part of this Agreement: (check one) ☐ - The Landlord requires a payment in the amount of $ (“Security Deposit”) for the faithful performance of the Tenant under the terms and conditions of this Agreement. Payment of the Security Deposit is required by the Tenant upon the execution of this Agreement. The Security Deposit shall be returned to the Tenant within days after the end of the Lease Term less any itemized deductions. This Security Deposit shall not be credited towards any Rent unless the Landlord gives their written consent. ☐ - The Landlord does not require a Security Deposit as part of this Agreement.
Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.
Security Deposit Letter of Credit (a) On or before the Consent Date, Sub-Subtenant shall deliver to Sub-Sublandlord a security deposit (the “Security Deposit”) in the amount of One Million, Five Hundred Thousand Dollars ($1,500,000) to assure the full and faithful performance by Sub-Subtenant of its obligations under this Sub-Sublease. The Security Deposit shall be in the form of an irrevocable stand-by letter of credit (the “Letter of Credit”) in the initial amount of One Million, Five Hundred Thousand Dollars ($1,500,000). If, at any time, all or any part of the Security Deposit is at any time in the form of cash (including any Deposited Funds as hereinafter defined and any amounts drawn under any Letter of Credit), Sub-Sublandlord agrees that such funds shall be the property of Sub-Subtenant, subject, however, to the right of the Sub-Sublandlord to hold, draw upon, use and/or apply such funds in accordance with this Sub-Sublease. If all or any portion of the Security Deposit is in the form of cash, Sub-Subtenant shall use its commercially reasonable efforts to cause a new or revised Letter or Letters of Credit to be issued within fifteen (15) days from any draw such that the full amount of the Security Deposit required hereunder is posted by Letter of Credit, but failure to cause such Letter(s) of Credit to be issued, after such efforts, shall not constitute a default under this Sub-Sublease. Any interest which shall accrue each year on the Security Deposit (if in the form of cash), shall not constitute a part of the Security Deposit, shall be the property of Sub-Subtenant and shall be paid to Sub-Subtenant annually on the last day of each year during the Sub-Sublease, and on termination of this Sub-Sublease, and until paid over to Sub-Subtenant, Sub-Sublandlord shall hold such interest in trust for the benefit of Sub-Subtenant. Except as provided below, the Security Deposit (whether temporarily in the form of cash or a Letter of Credit) shall be maintained in effect until the date (the “SD Expiration Date”) which is thirty (30) days after the expiration or termination this Sub-Sublease. The Security Deposit held by Sub-Sublandlord shall be returned to Sub-Subtenant on the date which is thirty (30) days after the expiration or termination of this Sub-Sublease, less any portion of the Security Deposit which Sub-Sublandlord has drawn upon and/or utilized in accordance with the provisions of Section 6. Notwithstanding anything to the contrary in this Section 6, Sub-Sublandlord shall accept a Letter of Credit from Xxxxx Fargo Bank substantially in the form of Exhibit D attached hereto.
Utility Deposits Seller shall receive a credit for the amount of deposits, if any, with utility companies that are transferable and that are assigned to Purchaser at the Closing.
Rent and Security Deposit (if applicable). Renter will pay the Town a rental fee of $ at the signing of this Rental Agreement. Renter will also pay the Town a security deposit of $ at the signing of this Rental Agreement.
Additional Security Deposit No additional security deposit shall be required in connection with this Amendment.