Common use of Security Deposit Required Clause in Contracts

Security Deposit Required. $[AMOUNT] must be paid by the Subtenant at the execution of this Agreement. The security deposit shall be returned to the Subtenant within the return period required under Governing Law. Any damages or losses caused by the Subtenant may be deducted from the security deposit. If any deductions are made, an itemized list describing each deduction shall be provided.

Security Deposit Required. $[AMOUNT] $ must be paid by the Subtenant at the execution of this Agreement. The security deposit shall be returned to the Subtenant within the return period required under Governing Law. Any damages or losses caused by the Subtenant may be deducted from the security deposit. If any deductions are made, an itemized list describing each deduction shall be provided.