Common use of SECURITY DEPOSIT; PREPAID RENT Clause in Contracts

SECURITY DEPOSIT; PREPAID RENT. Not later than concurrently with the execution of this Lease, Tenant shall have deposited with Landlord the Security Deposit, if any, and Prepaid Rent(s) in the amount(s) set forth in the BLI Rider. The Security Deposit will be retained by Landlord as security for the payment by Tenant of Base Rent, Overhead Rent and any Addition Rent for the faithful performance by Tenant of the terms and conditions of this Lease. In the event Tenant fails to faithfully perform any material terms and/or conditions of this Lease, Landlord, at Landlord’s option, may at any time apply the Security Deposit or any part thereof toward the payment of the Rent and/or Overhead Rent and/or toward the performance of Tenant’s obligations under this Lease; in such event, within five (5) days after notice, Tenant will deposit with Landlord cash sufficient to restore the Security Deposit to its original amount. The Security Deposit is not liquidated damages. Landlord will return any unused portion of the Security Deposit to Tenant within thirty (30) days after the Expiration Date if Tenant is not in violation of any of the material provisions of this Lease. Landlord may (but is not obligated to) exhaust any or all rights and remedies against Tenant before resorting to the Security Deposit. Landlord will not be required to pay Tenant any interest on the Security Deposit nor hold same in a separate account. If Landlord sells or otherwise conveys the Building, Landlord will deliver the Security Deposit or the unapplied portion thereof to the new owner of the Building. Tenant agrees that if Landlord turns over the Security Deposit or the unapplied portion thereof to the new owner, Tenant will look solely to the new owner, and not to Landlord, for its return upon expiration of the Lease Term. If Tenant assigns this Lease with the consent of Landlord, as in an instance where Landlord’s consent to such a transfer is not required, the Security Deposit will remain with Landlord for the benefit of the transferee and will be returned to such transferee upon the same conditions as would have entitled Tenant to its return.

SECURITY DEPOSIT; PREPAID RENT. Not later than concurrently Tenant has deposited with Landlord the execution sum set forth in Item I of the Basic Lease Provisions as security for the full and faithful performance of every provision of this Lease to be performed by Xxxxxx. If Tenant defaults with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of rent, the repair of damage to the- Premises caused by Tenant and/or cleaning the Premises upon termination of this Lease, Landlord may use, apply or retain all or any part of this security deposit for the payment of any rent or any other sum in default, the repair of such damage to the Premises, to the cost of such cleaning or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default to the full extent permitted by law. If any portion of said deposit is so used or applied during the terms of this Lease, Tenant shall have deposited with Landlord the Security Deposit, if any, and Prepaid Rent(s) in the amount(s) set forth in the BLI Rider. The Security Deposit will be retained by Landlord as security for the payment by Tenant of Base Rent, Overhead Rent and any Addition Rent for the faithful performance by Tenant of the terms and conditions of this Lease. In the event Tenant fails to faithfully perform any material terms and/or conditions of this Lease, Landlord, at Landlord’s option, may at any time apply the Security Deposit or any part thereof toward the payment of the Rent and/or Overhead Rent and/or toward the performance of Tenant’s obligations under this Lease; in such event, within five ten (510) days after notice, Tenant will written demand therefore deposit cash with Landlord cash in an amount sufficient to restore the Security Deposit security deposit to its original amount. The Security Deposit is not liquidated damages. Landlord will return any unused portion of the Security Deposit amount and Tenant's failure to Tenant within thirty (30) days after the Expiration Date if Tenant is not in violation of any of the do so shall be a material provisions breach of this Lease. Landlord may (but is not obligated to) exhaust any or all rights and remedies against Tenant before resorting to the Security Deposit. Landlord will shall not be required to pay keep this security deposit separate from its general' funds, and Tenant any shall not be entitled to interest on the Security Deposit nor hold same in a separate accountsuch deposit. If Landlord sells Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or otherwise conveys the Buildingany balance thereof shall be returned to Tenant (or, Landlord will deliver the Security Deposit or the unapplied portion thereof at Landlord's option, to the new owner last assignee of Tenant's interest hereunder) at the Building. Tenant agrees that if Landlord turns over the Security Deposit or the unapplied portion thereof to the new owner, Tenant will look solely to the new owner, and not to Landlord, for its return upon expiration of the Lease Termlease term. If Tenant assigns is not in default under this Lease with Agreement and the consent of Landlord, as in an instance where Landlord’s consent to such a transfer deposit is not requiredotherwise applied in accordance with this Article 4, then the Security Deposit will remain with Landlord deposit shall be applied as payment of Basic Rent for the benefit sixtieth (60th) month of the transferee and will be returned to such transferee upon the same conditions as would have entitled Tenant to its returnlease term hereunder.

SECURITY DEPOSIT; PREPAID RENT. Not later than concurrently with Upon the execution of this LeaseSublease, Tenant Subtenant shall have deposited deposit with Landlord Sublandlord a cash security deposit of Twenty-Nine Thousand Five Hundred Thirty Nine Dollars and Thirty-Three Cents ($29,539.33) (the “Security Deposit”) and upon receipt of Landlord’s written consent to this Sublease, if anySubtenant shall deposit with Sublandlord a cash deposit representing prepaid rent in the amount of Ninety-Two Thousand Six Hundred and Twenty-Three Dollars and Thirty-Three Cents ($92,623.33) (the “Prepaid Rent”) for the full and faithful performance of Subtenant’s obligations to pay the final three (3) months of rent under this Sublease. If Subtenant fails to pay any Base Monthly Rent or Additional Rent, or otherwise defaults with respect to any of its obligations under this Sublease and said alleged breach is not remedied within ten (10) days, Sublandlord may (but shall not be obligated to), and Prepaid Rent(s) in the amount(s) set forth in the BLI Rider. The Security Deposit will be retained by Landlord as security for the payment by Tenant without prejudice to any other remedy to Sublandlord, use, apply or retain all or any portion of Base Rent, Overhead Rent and any Addition Rent for the faithful performance by Tenant of the terms and conditions of this Lease. In the event Tenant fails to faithfully perform any material terms and/or conditions of this Lease, Landlord, at Landlord’s option, may at any time apply the Security Deposit or any part thereof toward the Prepaid Rent for the payment of any Base Monthly Rent or Additional Rent in default or for the payment of any other sum to which Sublandlord may become obligated by reason of Subtenant’s default, or to compensate Sublandlord for any loss or damage or Sublandlord may suffer thereby, including, without limitation, prospective damages and damages recoverable pursuant to California Civil Code Section 1951.2. Subtenant waives the provisions of California Civil Code Section 1950.7, and all other provisions of law now in force or that become in force after the date of execution of this Sublease, that provide that Sublandlord may claim from the Security Deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Subtenant, or to clean the Sublease Premises. If Sublandlord uses or applies all or any portion of the Security Deposit or the Prepaid Rent and/or Overhead Rent and/or toward the performance as provided above, upon receipt of Tenant’s obligations under this Lease; in such eventwritten notice from Sublandlord Subtenant shall, within five ten (510) days after noticedemand therefore, Tenant will deposit cash with Landlord cash Sublandlord in an amount sufficient to restore the Security Deposit or the Prepaid Rent, as applicable, to its original amountthe full amount thereof, and Subtenant’s failure to do so shall, at Sublandlord’s option, be an event of default under this Sublease. The Security Deposit is not liquidated damages. Landlord will return any unused portion If the Subtenant performs all of Subtenant’s obligations hereunder, the Security Deposit Deposit, or so much thereof that has not theretofore been applied by Sublandlord, shall be returned to Tenant Subtenant within thirty (30) days after following the Expiration Date if Tenant is not in violation of any expiration of the material provisions of this LeaseSublease Term and after Subtenant has vacated the Sublease Premises. Landlord may (but is Sublandlord shall not obligated to) exhaust any or all rights and remedies against Tenant before resorting be deemed to hold the Security Deposit. Landlord will not Deposit or the Prepaid Rent in trust nor be required to pay Tenant keep the Security Deposit or the Prepaid Rent separate from its general funds, and Subtenant shall not be entitled to any interest on the Security Deposit nor hold same in a separate account. If Landlord sells or otherwise conveys the Building, Landlord will deliver the Security Deposit or the unapplied portion thereof to the new owner of the Building. Tenant agrees that if Landlord turns over the Security Deposit or the unapplied portion thereof to the new owner, Tenant will look solely to the new owner, and not to Landlord, for its return upon expiration of the Lease Term. If Tenant assigns this Lease with the consent of Landlord, as in an instance where Landlord’s consent to such a transfer is not required, the Security Deposit will remain with Landlord for the benefit of the transferee and will be returned to such transferee upon the same conditions as would have entitled Tenant to its returnPrepaid Rent.