Security Deposit; First Month’s Rent. Concurrent with the execution of this Sublease, Sublessee shall provide Sublessor with a security deposit in an amount equal to three month's monthly base rent ($30,640.00), which shall be refunded to Sublessee upon full satisfaction of the terms and conditions of this Sublease. In addition, Sublessee shall provide the first month's monthly base rent ($10,213.60) to Sublessor upon execution of this Sublease.
Security Deposit; First Month’s Rent. Upon signing this Lease, a security deposit and first month’s rent is required. As security, the security deposit, for Tenant’s full and faithful performance of Tenant’s obligations under this Lease, is held in escrow at Community Bank of Ithaca, New York. Landlord shall have the right to retain and apply all or any portion of the security deposit toward the cost of remedying any default by the Tenant under this Lease to the fullest extent authorized by law. In the event Landlord shall apply any part of the security deposit as provided by this paragraph during the Lease term, Tenant shall promptly deposit with Landlord such additional funds as are required to reinstate the security deposit to the original amount. Tenant may not use the security deposit as rental payment and/or any other charge at any time. Return of Security Deposit is subject to the following provisions: A) Return all keys with a clean, damage-free Apartment in the same condition as when taken and as set forth on the “Statement of Condition” Inspection Report performed at Check-In before or at the expiration of the Lease term to the Landlord. The Landlord's definition of clean shall be the final definition. B) No delinquent rents or unpaid charges under the Lease agreement. C) Forwarding mailing address provided to Landlord. Provided the Tenant fulfills all the obligations of the Lease Agreement, the Landlord will return, within 30 days of the Lease end date, either an itemized accounting for charges with any balance of the security deposit or the entire security deposit to the address provided at check-out or via email to xxxx@XxxxXxxxxXxxx.xxx.
Security Deposit; First Month’s Rent. (a) Concurrently with the execution of this Amendment, Tenant shall, as security for the payment and performance of Tenant’s obligations under this Amendment and the Lease, deliver to Landlord an irrevocable standby letter of credit (the “Letter of Credit”), the form of which is attached hereto as Exhibit “C,” issued by Bank of America, N.A. (or such other financial institution acceptable to Landlord) with an initial stated amount of $2,072,791.77 (the “Stated Amount”). Nothing in this Section 7(a) shall modify Tenant’s obligations with respect to letter of credit number or , as amended. Provided that, as of the applicable “Reduction Date” set forth below, Tenant (i) has not previously committed an Event of Default which is not then continuing and (ii) is not then in a voluntary or involuntary bankruptcy proceeding and has not made an assignment for the benefit of creditors, and provided further that, on or prior to the applicable Reduction Date, Tenant tenders to Landlord a replacement Letter of Credit or an amendment to the existing Letter of Credit, conforming in all respects to the requirements of this Section, setting forth the applicable Stated Amount as of such Reduction Date, the Stated Amount shall be reduced in accordance with the following schedule: Reduction Date Stated Amount First day of the 25th month following the Expansion Space Commencement Date $ 1,555,886.09 First day of the 49th month following the Expansion Space Commencement Date $ 1,038,980.41 No further reductions to the Stated Amount are otherwise scheduled after the 49th month of the Expansion Term. In the event the Stated Amount is reduced pursuant to the foregoing, and provided that Tenant timely tenders the replacement or amended Letter of Credit to Landlord in the form required herein, Landlord shall exchange the Letter of Credit then held by Landlord for the replacement or amended Letter of Credit tendered by Tenant. Landlord shall reasonably cooperate with Tenant in memorializing the above-scheduled reductions in the Stated Amount. Landlord may, in its sole discretion, require that the Letter of Credit be confirmed by a financial institution satisfactory to Landlord. If, at any time, an Event of Default occurs, Landlord shall have the right to draw down on the Letter of Credit, or so much thereof as necessary, in payment of Rent, in reimbursement of any expense incurred by Landlord in accordance with this Amendment and the Lease, and in payment of any damages incurred by La...
Security Deposit; First Month’s Rent. Tenant has previously deposited with Landlord $89,495.08 as a Security Deposit under the Lease. Concurrently with Tenant's execution of this Fifth Amendment, Tenant shall deposit with Landlord an additional $321,981.32, for a total security deposit of $411,476.40. Landlord shall continue to hold the Security Deposit, as increased by this Fifth Amendment, in accordance with the terms and conditions of Section 21 of the Original Lease. In addition, concurrently with Tenant's execution of this Lease, Tenant shall pay to Landlord Monthly Base Rent for the First Expansion Space for the third month of the First Expansion Space Term in the amount of $102,278.85 and shall pay Monthly Base Rent for the Second Expansion Space for the third month Second Expansion Space Term in the amount of $172,396.73.
Security Deposit; First Month’s Rent. Concurrently with Tenant’s delivery of this Amendment, Tenant shall deliver (i) the sum of $18,095.00 to Landlord, which sum shall be added to the Security Deposit presently being held by Landlord in accordance with Section 4.3 of the Lease, and (ii) an installment in the amount of 1 full month’s Basic Rent, at the initial rate specified in Section III.B.4 of this Amendment, and one month’s estimated Tenant’s Share of Operating Expenses, which shall be applied against the Basic Rent and Operating Expenses first due hereunder as to the 49 Discovery Premises.
Security Deposit; First Month’s Rent. (a) Concurrently with the execution of this Amendment, Tenant shall, as security for the payment and performance of Tenant’s obligations under the Lease, deliver to Landlord a supplemental irrevocable standby letter of credit (the “Letter of Credit”), the form of which is attached hereto as Exhibit “C”, issued by Bank of America, N.A. (or such other financial institution acceptable to Landlord) with an initial stated amount of $1,574,462.00 (the “Stated Amount”). Nothing in this Section shall modify Tenant’s obligations with respect to any other letters of credit issued in favor of Landlord pursuant to the Lease. Provided that, as of the applicable “Reduction Date” set forth below, Tenant (i) has not previously committed an Event of Default which is not then continuing and (ii) is not then in a voluntary or involuntary bankruptcy proceeding and has not made an assignment for the benefit of creditors, and provided further that, on or prior to the applicable Reduction Date, Tenant tenders to Landlord a replacement Letter of Credit or an amendment to the existing Letter of Credit, conforming in all respects to the requirements of this Section, setting forth the applicable Stated Amount as of such Reduction Date, the Stated Amount shall be reduced in accordance with the following schedule: Reduction Date Stated Amount First day of the 25th month following the Expansion Space Commencement Date $ 1,265,102.00 First day of the 37th month following the Expansion Space Commencement Date $ 949,615.00
Security Deposit; First Month’s Rent. Upon the Sublease Commencement Date, Sublessee shall provide Sublessor with a security deposit in the amount of $25,000.00, which shall be refunded to Sublessee upon full satisfaction of the terms and conditions of this Sublease. In addition, Sublessee shall pay to Sublessor first month's monthly base rent of $18,207.00 upon the Sublease Commencement Date.
Security Deposit; First Month’s Rent. Upon the execution hereof and receipt of Master Landlord’s written consent, Subtenant shall deposit with Sublandlord the sum of $10,698.95 as security for the full and faithful performance of every portion of this Sublease to be performed by Subtenant and shall be returned to Subtenant within ten (10) business days after November 30, 2017 less any damages as charged by Master Landlord and Sublandlord. If Subtenant shall remain in uncured default (subject to the expiration of any applicable notice and cure periods) with respect to any provision of this Sublease, Sublandlord may use, apply or retain all or any portion of this security deposit to remedy such default. If any portion of said deposit is so used or applied, Subtenant shall, as Additional Sublease Rent, within ten (10) days after demand therefor, deposit cash with Sublandlord in an amount sufficient to restore the security deposit to its correct amount and Subtenant’s failure to do so shall be a material breach of this Sublease. Sublandlord shall not be required to keep such security deposit separate from its general funds and Subtenant shall not be entitled to interest on such deposit. In addition, upon the execution hereof and receipt of Subtenant by Master Landlord’s written consent, Subtenant shall pay the monthly installment of Rent for month 1 of the sublease term; as due on the Commencement Date.
Security Deposit; First Month’s Rent. To facilitate a smooth transition into Mill Pond Gables, we ask that you make an appointment to see the Housing Director the week before you move in to pay your rent, sign the lease, and complete a walk-through of your unit. Our office is open Monday-Friday 10:00 a.m. – 4:00 p.m. or by appointment. Please call 000-000-0000.
Security Deposit; First Month’s Rent
