Common use of Security Deposit Required Clause in Contracts

Security Deposit Required. The Tenant is required to pay $ and it shall be due and payable in advance of the Initial Term (“Security Deposit”) and shall be held in escrow by the Landlord in a separate bank account as security for the successful performance of the terms and conditions of this Agreement. The Security Deposit may not be used to pay the last month’s rent.

Security Deposit Required. The Tenant is required to pay $ $[AMOUNT] and it shall be due and payable in advance of the Initial Term (“Security Deposit”) and shall be held in escrow by the Landlord in a separate bank account as security for the successful performance of the terms and conditions of this Agreement. The Security Deposit may not be used to pay the last month’s rent.

Security Deposit Required. The Tenant is required to pay $ and it shall be due and payable in advance of the Initial Term (“Security Deposit”) and shall be held in escrow by the Landlord in a separate bank account as security for the successful performance of the terms and conditions of this Agreement. The Security Deposit may not be used to pay the last month’s rent.