Security Deposit/Reserve Sample Clauses

Security Deposit/Reserve. A charge for a security deposit/reserve may be placed against the Customer’s credit card, as stated above, on or before the Effective Date. This deposit may be retained by SPS and will be applied against Customer’s account for payment of rent or damages to or loss of the Equipment, or any other payment owed to SPS by Customer. Currently SPS charges $0.0 for Kyocera / Motorola 9500 and $0.0 for Motorola 9505A and 9555 as a security reserve. Once account has been finalized and charges paid, any remaining deposit will be credited back to same credit card.
Sample 1
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Security Deposit/Reserve. On the Closing Date, all security deposits of the Project Lessees under the Project Leases shall be transferred by Borrowers to Lender and deposited by Lender into a reserve to be held by Lender as additional collateral for the payment and performance of Borrowers' obligations under the Loan Documents (the "SECURITY DEPOSIT RESERVE"). Borrowers shall deposit into the Security Deposit Reserve all additional security deposits made by any Project Lessee under any Project Lease. Funds in the Security Deposit Reserve will be held by a depository institution insured by the Federal Deposit Insurance Corporation (which institution may be an Affiliate of Lender) in an interest-bearing account, may be commingled with the general funds of Lender at such institution, and shall not be deemed to be held in trust for the benefit of Borrowers. Interest shall accrue on amounts in the Security Deposit Reserve at the rate paid by such depository institution for such deposits. Any interest accruing and paid on such funds shall be deemed to be part of the Security Deposit Reserve and shall be applied in accordance with this Section 4.2(w). Borrowers hereby grant Lender a first priority security interest in such funds, including all interest accruing thereon, and all such funds are pledged as additional collateral for the Loan and Borrowers shall execute any other documents and take any other actions necessary to provide Lender with such a perfected security interest in such funds. So long as no default shall exist under any Project Lease, funds in the Security Deposit Reserve shall be release upon delivery by Borrowers to Lender of evidence reasonably satisfactory to Lender that the Project Lessee is entitled to a refund of its security deposit. Upon the occurrence and during the continuation of an Event of Default, amounts in the Security Deposit Reserve that may be retained or applied by the landlord under any Project Lease shall, at Lender's option, be applied against the Indebtedness.
Sample 1
Security Deposit/Reserve. Upon the occurrence of an Event of Default or the occurrence of Borrower’s springing obligation to deposit any Re-leasing Funds into the Re-leasing Account pursuant to Section 9.3 herein, Borrower agrees that Lender shall establish an account with Lender’s Agent in the name of Lender and under the exclusive control of Lender (the “Security Deposit Account”) into which Borrower shall promptly deposit all cash security deposits under the Leases held by Borrower or Borrower’s agent and, in the event any security deposit is held in the form of a letter of credit, Borrower shall promptly assign such letter of credit to Lender in a manner reasonably acceptable to Lender. Amounts so deposited or transferred shall hereinafter be referred to as the “Security Deposit Funds.”
Sample 1
Security Deposit/Reserve. A reserve against the Customer’s credit card will be made as stated above on or before the Effective Date. This reserve will be maintained by TEMPEST TELECOM and will be applied against any default of Customer in payment of rent or for damage or loss of the Equipment or other payment due TEMPEST TELECOM which is chargeable to the Customer. Currently TEMPEST TELECOM charges the stipulated equipment value of $1000.00 as a security reserve. For your convenience once the equipment has been returned your security reserve will be half of the original allotment. Upon termination of this Agreement, and after final airtime and other charges are paid in full, the reserve will be completely released from the credit card.
Sample 1
Security Deposit/Reserve. Globalcom shall use the supplied credit card information as a reserve to be used in the event that additional charges are incurred.
Sample 1

Related to Security Deposit/Reserve

  • Security Deposit Tenant shall pay to Landlord, upon the execution of this Lease, the Security Deposit set forth in Article 1.13 above as security for the performance by Tenant of its obligations under this Lease, which amount shall be returned to Tenant after the expiration or earlier termination of this Lease, provided that Tenant shall have fully performed all of its obligations contained in this Lease. The Security Deposit, at the election of Landlord, may be retained by Landlord as and for its full damages or may be applied in reduction of any loss and/or damage sustained by Landlord by reason of the occurrence of any breach, nonperformance or default by Tenant under this Lease without the waiver of any other right or remedy available to Landlord at law, in equity or under the terms of this Lease. If any portion of the Security Deposit is so used or applied, Tenant shall, within five(5) days after written notice from Landlord, deposit with Landlord immediately available funds in an amount sufficient to restore the Security Deposit to its original amount, and Tenant's failure to do so shall be a breach of this Lease. Tenant acknowledges and agrees that in the event Tenant shall file a voluntary petition pursuant to the Bankruptcy Code, or if an involuntary petition is filed against Tenant pursuant to the Bankruptcy Code, then Landlord may apply the Security Deposit towards those obligations of Tenant to Landlord which accrued prior to the filing of such petition. Tenant acknowledges further that the Security Deposit may be commingled with Landlord's other funds and that Landlord shall be entitled to retain any interest earnings on the Security Deposit. In the event of termination of Landlord's Interest in this Lease, Landlord shall transfer the Security Deposit to Landlord's successor in interest, and Landlord shall be released from liability by Tenant for the return of such deposit or for an accounting of the Security Deposit.

  • 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.

  • Interest Reserve Account The Certificate Administrator shall establish and maintain the Interest Reserve Account in the Certificate Administrator’s name, on behalf of the Trustee, for the benefit of the Certificateholders. The Interest Reserve Account shall be established and maintained as a non-interest bearing Eligible Account. On each Master Servicer Remittance Date occurring in January (except during a leap year) or February (commencing in 2018) (unless, in either such case, the related Distribution Date is the final Distribution Date), the Master Servicer shall remit to the Certificate Administrator for deposit into the Interest Reserve Account, in respect of all the Mortgage Loans that accrue interest on the basis of a 360-day year and the actual number of days in the related month, an amount equal to one day’s interest at the related Net Mortgage Rate on the Stated Principal Balance of each such Mortgage Loan as of the close of business on the Distribution Date in the month preceding the month in which such Master Servicer Remittance Date occurs, to the extent a Monthly Payment or P&I Advance is made in respect thereof (all amounts so deposited in any consecutive January (if applicable) and February, “Withheld Amounts”). On or prior to the Master Servicer Remittance Date in March (or February if the final Distribution Date occurs in such month) of each calendar year (commencing in 2018), the Certificate Administrator shall transfer to the Lower-Tier REMIC Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

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