Common use of Security Deposit Clause in Contracts

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 3 contracts

Samples: Oralabs Holding Corp, Unity First Acquisition Corp, Optical Access Inc

AutoNDA by SimpleDocs

Security Deposit. Lessee Lessee's $5,000.00 security deposit shall deposit with Lessor upon execution hereof $-0- remain as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, deposit Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 3 contracts

Samples: Alpha Technologies Group Inc, Alpha Technologies Group Inc, Alpha Technologies Group Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the Letter of Credit as identified in Addendum One, as security for Lessee's ’s faithful performance of Lessee's ’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion call upon the Letter of said deposit Credit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion calls upon the Letter of said depositCredit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to therefore from Lessor, restore said deposit the Letter of Credit to the full amount hereinabove required under the terms stated in this Lease and Lessee's ’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's ’s obligations hereunder, said depositLetter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment released from the terms and conditions of interest or other increment for its use, this Lease to Lessee within sixty (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder60) at the days after expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 3 contracts

Samples: Lease (Local Matters Inc.), Lease (Local Matters Inc.), Lease (Local Matters Inc.)

Security Deposit. Concurrently with Lessee's execution of this Lease and submission thereof for Lessor's execution, Lessee shall deposit with pay the Deposit to Lessor, which Deposit shall be held by Lessor upon execution hereof $-0- as security for Lessee's the full and faithful performance of Lessee's covenants and obligations hereunderunder the Lease. The Deposit is not an advance Base Rental deposit, an advance payment of any other kind, or a measure of Lessor's damages in case of Lessee's default. If Lessee fails to pay rent comply with the full and timely performance of any or other charges due hereunder, or otherwise defaults with respect to any provision all of Lessee's covenants and obligations set forth in this Lease, then Lessor may usemay, apply or retain all from time to time, without waiving any other remedy available to Lessor, use the Deposit, or any portion of said deposit for it, to the payment of any rent extent necessary to cure or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, remedy such failure or to compensate Lessor for any loss or damage which all damages sustained by Lessor may suffer therebyresulting from Lessee's failure to comply fully and timely with its obligations pursuant to this Lease. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written immediately pay to Lessor on demand therefor deposit cash with Lessor the amount so applied in an amount sufficient order to restore said deposit the Deposit to the full amount hereinabove stated its original amount, and Lessee's failure to immediately do so shall be constitute a material breach of default under this Lease. If Lessee is in compliance with the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent covenants and obligations set forth in paragraph 4 hereofthis Lease at the time which is sixty (60) days following the time of both the expiration (or earlier termination) of this Lease and Lessee's vacating of the Premises, Lessor shall return the Deposit to Lessee promptly thereafter. Lessor's obligations with respect to the Deposit are those of a debtor and not a trustee. Lessor shall not be required to keep said deposit maintain the Deposit separate and apart from its Lessor's general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its usefunds, to Lessee (or, at and Lessor may commingle the Deposit with any of Lessor's option, general or other funds. Lessee shall not at any time be entitled to interest on the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Lease Agreement (Advanced Communications Technologies Inc), Lease Agreement (Advanced Communications Technologies Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 1.00 (only) as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach breath of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Butterfield & Butterfield Auctioneers Corp, Butterfield & Butterfield Auctioneers Corp

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof $and Lessor hereby acknowledges receipt of the sum of -0- which shall be held by Lessor as security for Lessee's the faithful performance by Lessee of all the terms of this Lease by Lessee to be observed and performed. Said deposit shall not be mortgaged, assigned, transferred or encumbered by Lessee without the express written consent of Lessor or encumbered by Lessee without the force and any such act on the part of Lessee shall be not be binding upon Lessor. Said security deposit shall not accrue interest. If any of the rents herein reserved or any other sum payable by Lessee to Lessor hereunder shall be overdue or unpaid, or should Lessor make payments on behalf of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect if Lessee shall fail to perform any provision of the terms of this Lease, Lessor may usethe Lessor, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of at its option and without prejudice to any other sum to remedy which Lessor may become obligated by reason of Lessee's defaulthave on account thereof, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of appropriate and apply said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said entire deposit, or so much thereof as has not theretofore been applied by may be necessary to compensate Lessor, toward the payment of any rent or additional sum due hereunder or to any loss or damage sustained by Lessor due to such breach on the part of Lessee; and Lessee shall forthwith upon demand restore said security deposit to the original sum deposited. Should Lessee comply with all of the terms and promptly pay all of the rentals and all other sums payable by Lessee to Lessor as they become due, said deposit shall be returnedreturned in full to Lessee at the end of the Lease term. In the event of bankruptcy or other creditor debt proceedings against Lessee, without the security deposit shall be deemed to be first applied to the payment of interest or rent and other increment charges due Lessor for its use, to Lessee (or, at Lessor's option, all periods prior to the last assignee, if any, filing of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsuch proceedings.

Appears in 2 contracts

Samples: Lease Agreement (Summit Financial Services Group Inc), Lease Agreement (Summit Financial Services Group Inc)

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof the sum of $-0- 5,128.85 --------- ________________________________________________________________________________ ________________________________________________________________________________ Said sum shall be held by Lessor as security for Lessee's the faithful performance by Lessee of Lessee's obligations hereunderall of the terms, covenants, and conditions of this Lease to be kept and performed by Lessee during the term hereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision provisions of this Lease, including but not limited to the provisions relating to the payment of rent, and maintaining premises in good condition, Lessor may (but shall not be required to) use, apply or retain all or any portion part of said this security deposit for the payment of any rent or any damages, or other charge sum in default default, or for the payment of any other sum to amount which Lessor may become obligated spend by reason of LesseeLeasee's default, default or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee's default. If Lessor so uses or applies all or any portion of said depositdeposit is so used or applied. Lessee shall, Lessee shall within ten (10) days after written upon demand therefor therefor, deposit cash with Lessor in an amount sufficient to restore said the security deposit to the full its original amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said this security deposit separate from its general accountsfunds, and Lessee shall not be entitled to interest on such deposit. If Lessee performs all shall fully and faithfully perform every provision of Lessee's obligations hereunderthis Lease to be performed by it, said deposit, the security deposit or so much any balance thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, returned to Lessee (or, at LessorLessee's option, to the last assignee, if any, assignee of Lessee's interest hereunder) at hereunder)at the expiration of the term hereofLease term. In the event of termination of Lessor's interest in this Lease, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect shall transfer said deposit to said Security DepositLessor's successor in interest.

Appears in 2 contracts

Samples: Lease (Citysearch Inc), Ticketmaster Online Citysearch Inc

Security Deposit. On or before the date when Lessee signs this Lease, Lessee shall deposit with Lessor upon execution hereof the sum of $-0- 11,000.00 as a Security Deposit. The Security Deposit shall be held by Lessor as security for Lessee's the faithful performance by Lessee of all of the provisions of this Lease to be performed or observed by Lessee's obligations hereunder. No portion of the Security Deposit may be used for any monetary obligation owed by Lessee during the term of this Lease and any extension thereof, particularly the rental for the last month of the term of this Lease or any extension thereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit the Security Deposit for the payment of any rent said obligation or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said depositthe Security Deposit during the term hereof or any extension, Lessee shall within ten fifteen (1015) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit the Security Deposit to the full amount hereinabove stated and thereof. Lessee's ’s failure to do so shall be deemed a failure to pay rent and shall constitute a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit the Security Deposit separate from its his general accounts. If Lessee performs all of Lessee's ’s obligations hereunder, said depositthe Security Deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's ’s option, to the last assignee, if any, of Lessee's ’s interest hereunder) at within a reasonable time after the expiration of the term hereof, hereof and after Lessee has vacated the PremisesPremises and they are returned to Lessor in the condition in which they are obliged to be returned to Lessor, whichever is later. No trust relationship is created herein between Lessor and Lessee with respect to said the Security Deposit.

Appears in 2 contracts

Samples: Commercial Lease (Audentes Therapeutics, Inc.), Commercial Lease (Audentes Therapeutics, Inc.)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 1,343,00 as security for LesseeXxxxxx's faithful performance of LesseeXxxxxx's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of LesseeXxxxxx's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee Xxxxxx performs all of LesseeXxxxxx's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of LesseeXxxxxx's interest hereunder) at the expiration of the term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Lessor Xxxxxx and Lessee Xxxxxx with respect to said Security Deposit.

Appears in 2 contracts

Samples: Assignment of Lease (Redenvelope Inc), Assignment of Lease (Redenvelope Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for LesseeXxxxxx's faithful performance of LesseeXxxxxx's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of LesseeXxxxxx's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, a the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its Its general accounts. If Lessee Xxxxxx performs all of LesseeXxxxxx's obligations hereunder, said deposit, deposit or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, . at LessorXxxxxx's option, to the last assignee, if any, of LesseeXxxxxx's interest hereunder) at the expiration of the term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Lessor Xxxxxx and Lessee Xxxxxx with respect to said Security Deposit. 6.

Appears in 2 contracts

Samples: California Software (California Software Corp), California Software (California Software Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- N/A as security for Lessee's Xxxxxx’s faithful performance of Lessee's Xxxxxx’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to for which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated stated, and Lessee's Xxxxxx’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee Xxxxxx performs all of Lessee's Xxxxxx’s obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by LessorXxxxxx, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's ’s option, to the last assignee, if any, of Lessee's Xxxxxx’s interest hereunder) at the expiration of the term hereof, Term and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Basic Terms Sheet (Syncardia Systems Inc), Basic Terms Sheet (Syncardia Systems Inc)

Security Deposit. Upon Lessee's execution of this Lease, Lessee shall ---------------- deposit with Lessor upon execution hereof $-0- the sum set forth in Article 1.i. as the security deposit ("Security Deposit"). The Security Deposit shall be held by Lessor as security for Lessee's the faithful performance by Lessee of Lessee's obligations hereunderall the terms, covenants and conditions of this Lease to be kept and performed by Lessee during the Term. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, but not limited to the provisions relating to the payment of Rentals or relating to the condition of the Premises at Lease Termination, Lessor may (but shall not be required to) use, apply or retain all or any portion part of said deposit the Security Deposit for the payment of any rent Rental or any other charge sum in default default, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee's default, or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby xxxxx of Lessee's default. If Lessor so uses or applies all or any portion of said depositthe Security Deposit is so used or applied, Lessee shall within ten five (105) days after written demand therefor therefor, deposit cash with Lessor in an amount sufficient to restore said deposit the Security Deposit to the full its original amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit the Security Deposit separate from its general accountsfunds, and Lessee shall not be entitled to interest on the Security Deposit. If Lessee performs all Lessor is not a trustee of Lessee's obligations hereunderthe Security Deposit and may use it in ordinary business, said deposittransfer it or assign it, or so much thereof as has not theretofore been applied by Lessor, use it in any combination of such ways. Any remaining portion of the Security Deposit shall be returned, without payment of interest or other increment for its use, returned to Lessee (or, at Lessor's option, to the last assignee, if any, assignee of Lessee's interest hereunder) at the expiration within two (2) weeks after Lease Termination and vacation of the term hereofPremises by Lessee or its last assignee; provided, and after however if any portion of the Security Deposit is to be applied to repair damages to the Premises caused by Lessee has vacated or Lessee's Agents or to clean the Premises, then the balance of the Security Deposit shall be returned to Lessee (or, at Lessor's option to the last assignee of Lessee's interests hereunder) no later than thirty (30) days from the date Lessor receives possession of the Premises. No trust relationship Lessee shall not transfer or encumber the Security Deposit nor shall Lessor be bound by Lessee's attempt to do so. If Lessor's interest in this Lease is created herein between terminated, Lessor may transfer the Security Deposit to Lessor's successor in interest, and upon such transfer, Lessor shall be released from any liability to Lessee with respect to said the Security DepositDeposit and Lessee shall look only to the transferee for any return of the Security Deposit to which Lessee may be entitled.

Appears in 2 contracts

Samples: Chordiant Software Inc, Chordiant Software Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Office Lease (Scheid Vineyards Inc), Office Lease (Scheid Vineyards Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- $ N/A as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or of any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, Lessor shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Park Electrochemical Corp, Park Electrochemical Corp

Security Deposit. Concurrently with the Lessee's sexecution of this Lease, the Lessee shall deposit with the Lessor upon execution hereof $-0- the sum specified in Item 7 of the Basic Lease Provisions as security for Lessee's the faithful performance by the Lessee of Lessee's obligations hereunderall covenants and conditions of this Lease. If the Lessee fails to pay rent shall breach or other charges due hereunder, default in the performance of any covenants or otherwise defaults with respect to any provision conditions of this Lease, including the payment of rent, the Lessor may use, apply or retain all the whole or any portion part of said such security deposit for the payment of any rent or other charge in default or for the payment of any other sum to which the Lessor may become obligated spend or be required to spend by reason of the Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If the Lessor so uses or applies all or any portion of said deposit, the Lessee shall shall, within ten (10) days after written demand therefor therefor, deposit cash with the Lessor in an amount sufficient to restore said deposit to the full amount hereinabove herein above stated and the Lessee's failure to do so shall be a material breach of this Lease. If Should the monthly rent shall, from time to time, increase during the term Lessee comply with all covenants and conditions of this Lease, Lessee shall thereupon deposit with Lessor additional the security deposit so that the amount of security deposit held by Lessor or any balance thereof shall at all times bear the same proportion to current rent as the original security deposit bears be returned to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, or at the option of the Lessor's option, to the last assignee, if any, assignee of the Lessee's interest hereunderin this Lease) at the expiration of the term hereof, term. The Lessee shall not be entitled to interest on the security deposit and after Lessee has vacated the Lessor shall have the right to commingle said security deposit with other funds of the Lessor. Should the Lessor sell its interest in the Premises. No trust relationship is created herein between , the Lessor may transfer to the purchaser thereof the then unexpended or unappropriated deposit and Lessee with respect to said Security Depositthereupon the Lessor shall be discharged from any liability for such funds.

Appears in 2 contracts

Samples: Adept Technology Inc, Adept Technology Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof thirteen thousand one hundred and seventy eight Dollars ($-0- 13,178.00) as security for Lessee's ’s faithful performance of Lessee's ’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to for which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated stated, and Lessee's ’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's ’s obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's ’s option, to the last assignee, if any, of Lessee's ’s interest hereunder) at the expiration of the term hereof, Term and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: HTG Molecular Diagnostics, Inc, HTG Molecular Diagnostics, Inc

Security Deposit. Lessee shall deposit with Lessor Lessor, upon execution hereof hereof, $-0- 1,833.33 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all of or any portion of said deposit, Lessee shall shall, within ten (10) 10 days after written demand therefor thereof, deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated herein above stated, and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, returned without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, as it may be altered or amended and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Intercell Corp, Intercell Corp

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 10,200.00, as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Progenitor Inc, Progenitor Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof ten thousand Dollars ($-0- 10,000) as security for Lessee's ’s faithful performance of Lessee's ’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to for which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated stated, and Lessee's ’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's ’s obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's ’s option, to the last assignee, if any, of Lessee's ’s interest hereunder) at the expiration of the term hereof, Term and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: HTG Molecular Diagnostics, Inc, HTG Molecular Diagnostics, Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach breath of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Butterfield & Butterfield Auctioneers Corp, Butterfield & Butterfield Auctioneers Corp

Security Deposit. Lessee Each Coop shall deposit with Lessor the University upon execution hereof $-0- hereof, as security for Lesseethe Coop's faithful performance of Lesseethe Coop's obligations hereunder, the dollar amount as provided in Addenda X-0, X-0, X, C and D, respectively as to each Coop. If Lessee a Coop fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this LeaseSpace Agreement, Lessor the University may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor the University may become obligated entitled by reason of Lesseethat Coop's default, or to compensate Lessor the University for any loss or damage which Lessor the University may suffer thereby. If Lessor the University so uses or applies all or any portion of said deposit, Lessee that Coop shall within ten (10) days after written demand therefor therefore, deposit cash with Lessor the University in an amount sufficient to restore said deposit to the full amount hereinabove stated stated, and Lesseethat Coop's failure to do so shall be a material breach of this LeaseSpace Agreement as to that Coop. If the monthly rent shall, from time to time, increase increases during the term Term of this LeaseSpace Agreement, Lessee the Coops to whom such increase applies shall thereupon deposit with Lessor the University an additional security deposit so that the amount of security deposit held by Lessor the University shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereofset. Lessor The University shall not be required to keep said deposit separate from its general accounts. If Lessee each Coop performs all of Lessee's its respective obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessorthe University, shall be returned, without payment of interest or other increment for its use, to Lessee that Coop (or, at Lessorthe University's option, to the last assignee, if any, of Lesseethe Coop's interest hereunder) at the expiration of the term Term hereof, and after Lessee the Coop has vacated the Premises. No trust relationship is created herein between Lessor the University and Lessee the Coops with respect to said Security DepositDeposits.

Appears in 2 contracts

Samples: Space Agreement, Space Agreement

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 840.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, . Lessor may useuse apply, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If thereby if Lessor so uses or applies all or of any portion of said deposit, deposit Lessee shall within ten (10) days after written demand therefor thereof deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated stated, and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, use to Lessee (or, or at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositpremises.

Appears in 2 contracts

Samples: Imarx Therapeutics Inc, Imarx Therapeutics Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- as As security for Lessee's faithful the performance of all of Lessee's obligations hereunderunder this Lease, Lessee shall pay the Deposit to the Payment Location as when specified in Exhibit X. Xxxxxx shall have no obligations to segregate the Deposit from its own funds or to account to Lessee for interest, if any, earned thereon. If Lessee fails to pay rent Rent hereunder or to pay any other charges sums due hereunder, or otherwise defaults with respect to perform any provision of the other terms and provisions of this Lease, or any document delivered pursuant hereto or thereto or is otherwise in Default hereunder or thereunder, in addition to all other rights Lessor may have under law, hereunder or thereunder, Lessor may use, apply or retain all or any portion of said deposit the Deposit in partial payment for the payment of any rent or other charge in default or for the payment of any other sum sums due to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss sums it may in its discretion advance as a result of such Default, or damage which to apply toward losses or expenses Lessor may suffer therebyor incur as a result of such Default. If Lessor so uses or applies all or any portion of said depositthe Deposit, such application shall not be deemed a cure of any Default, and upon written demand therefor, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to such additional funds as shall reinstate the full amount hereinabove stated original amounts thereof and Lessee's the failure of Lessee to do so shall be a material breach of this Lease. If Except as otherwise provided in this Section 20(m), and provided that no Default has occurred and is continuing on the monthly rent shallReturn Occasion, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear return forthwith any portion of the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has Deposit not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, as provided in this Section 20(m) to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Aircraft Lease Agreement (Frost Hanna Mergers Group Inc), Aircraft Lease Agreement (Frost Hanna Mergers Group Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- ------------------- (See Addendum-Paragraph 25.) as security for Lessee's faithful performance of Lessee's obligations obligation hereunder. If Lessee fails falls to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or any other charge in default beyond any applicable grace period or for the payment of any other sum to which the Lessor may spend or become obligated to spend by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove hereinbefore stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If accounts if Lessee performs all of Lessee's obligations hereunderhereunder as of the expiration of the Lease, said deposit, or so much thereof as has not been theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest inheres hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Digital Domain Media Group, Inc., Digital Domain

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 1,656.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor therefore deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 Paragraph 4.1 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, use to Lessee (or, at LessorLessee's option, to the last assignee, if any, of Lessee's interest hereunder) at within thirty (30) days after the expiration of f the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. The $1,684.00 security despot that was paid for lease dated 10/3/00 will be transferred and used for damages against this lease. The difference of $28.00 will be applied to September rent.

Appears in 2 contracts

Samples: Industrial Lease (Viper Networks Inc), Industrial Lease (Viper Networks Inc)

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof $-0- and Lessor hereby acknowledges receipt of the sum of $ 2.112.16 which shall be held by Lessor as security for Lessee's the faithful performance by Lessee of all the terms of this Lease by Lessee to be observed and performed. Said deposit shall not be mortgaged, assigned, transferred or encumbered by Lessee without the express prior written consent of Lessor and any such act on the part of Lessee shall be without force and effect and shall not be binding upon Lessor. Said security deposit shall not accrue interest. If any of the rents herein reserved or any other sum payable by Lessee to Lessor hereunder shall be overdue or unpaid, or should Lessor make payments on behalf of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect if Lessee shall fail to perform any provision of the terms of this Lease, Lessor may usethe Lessor, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of at its option and without prejudice to any other sum to remedy which Lessor may become obligated by reason of Lessee's defaulthave on account thereof, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of appropriate and apply said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said entire deposit, or so much thereof as has not theretofore been applied by may be necessary to compensate Lessor, toward the payment of any rent or additional sum due hereunder or to any loss or damage sustained by Lessor due to such breach on the part of Lessee; and Lessee shall forthwith upon demand restore said security deposit to the original sum deposited. Should Lessee comply with all of the terms and promptly pay all of the rentals and all other sums payable by Lessee to Lessor as they become due, said deposit shall be returnedreturned in full to Lessee at the end of the lease term. In the event of bankruptcy or other creditor debt proceedings against Lessee, without the security deposit shall be deemed to be first applied to the payment of interest or rent and other increment charges due Lessor for its use, to Lessee (or, at Lessor's option, all periods prior to the last assignee, if any, filing of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsuch proceedings.

Appears in 2 contracts

Samples: Atrium Financial Center Lease Agreement (Interactive Technologies Com LTD), Atrium Financial Center Lease Agreement (Interactive Technologies Com LTD)

Security Deposit. Lessee shall deposit with Lessor upon execution ---------------- hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money, as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or on so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Notify Corp

Security Deposit. Lessee shall deposit with Lessor upon execution hereof Eighteen Thousand Nine Hundred Eight and 92/100 Dollars ($-0- 18,908.92) as security for Lessee's faithful ' performance of Lessee's its obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which that Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shallincreases, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at Lessor's request, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs its general accounts. If Lessee performs all of Lessee's its obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsecurity deposit.

Appears in 1 contract

Samples: Lease (WTC Industries Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 8,796.48 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in In default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon at the time of such Increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original Initial security deposit bears to the original monthly rent Initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest Interest or other increment Increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease (H E R C Products Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated stated, and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, use to Lessee (or, or at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: CFP Holdings Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 7,065.00 as security for Lessee's faithful performance of Lessee's obligations obligation hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage damages which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Agreement (LJL Biosystems Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 14,100.00 as security for LesseeXxxxxx's faithful performance of LesseeXxxxxx's obligations ---------- hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of LesseeXxxxxx's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove herein above stated and LesseeXxxxxx's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee Xxxxxx performs all of LesseeXxxxxx's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of LesseeXxxxxx's interest hereunder) at the expiration of the term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Lessor Xxxxxx and Lessee Xxxxxx with respect to said Security Deposit.

Appears in 1 contract

Samples: Kinetics Group Inc

Security Deposit. In addition to said rent, Lessee shall agrees to pay the sum of $ 200.00 herewith as a security deposit. Said deposit with Lessor upon execution hereof $-0- as security for is Lessee's faithful performance proof to Lessor of Lessee's obligations hereunderhis intention to occupy the apartment and faithfully fulfill the terms of the lease. If Should Lessee fails fail to pay rent or other charges due hereunderoccupy the apartment and/or fail to fulfill the Lease by reason of any default, or otherwise defaults with respect to any provision said security deposit shall be forfeited and retained by Lessor. At the expiration of this Lease, said security deposit shall be applied as Lessor may usedeems reasonably necessary (1) for the cleaning of the demised premises and the items listed in any inventory attached hereto as part of this lease no less than $ -0- ; (2) for the repair of any damages to the demised premises, apply yard, fixtures, furnishings, or retain all or any portion of the items listed in said deposit inventory, reasonable wear and tear excepted; and (3) for the payment of any rent or other charge in default or for amount which is due and payable under the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach terms of this Leaselease, including, but not limited to, rent and late charges. If the monthly rent shall, from time to time, increase during the term After Lessor's determination of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount reasonably necessary to accomplish the aforesaid, the remainder of the security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, shall be returned to Lessee by mailing it to him at his forwarding address without interest within 45 days of Lessee's interest hereunder) at his vacating the expiration demised premises. If Lessee does not provide Lessor with a forwarding address and Lessor cannot locate Lessee upon reasonable search and inquiry, Lessee will be deemed to have forfeited said remaining security deposit to Lessor. Retention of the term hereof, and after Lessee has vacated security deposit by Lessor shall not prevent Lessor from recovering additional damages. The terms of the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsecurity deposit agreement are expressly made a part of this Lease.

Appears in 1 contract

Samples: Apartment Lease Contract

Security Deposit. Lessee shall deposit It is agreed that Lessee, concurrently with Lessor upon the execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may usehas deposited with the Lessor, apply or retain and will keep on deposit at all or any portion times during the term of said deposit this Lease, the sum of Six hundred eight and 00/100 U.S. Dollars ($608.00), the receipt of which is hereby acknowledged, as security for the payment by Lessee of any the rent or other charge in default or herein agreed to be paid, and for the payment faithful performance of any other sum to which Lessor may become obligated by reason of Lessee's defaultall the terms, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated conditions and Lessee's failure to do so shall be a material breach covenants of this Lease. If the monthly rent shallIf, from at any time to time, increase during the term of this Lease, Lessee shall thereupon deposit with be in default in the performance of any provision of this Lease, Lessor additional security deposit so that shall have the amount right to use said deposit, or as much thereof as necessary, in payment of security deposit held any rental in default as aforesaid and in reimbursement of any expense incurred by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all by reason of Lessee's obligations hereunderdefault, or at the option of Lessor, the same may be retained by Lessor. In such event, Lessee shall, on written demand of Lessor, forthwith remit to Lessor a sufficient amount in cash to restore said deposit to its original amount. In the event said deposit has not been utilized as foresaid, said deposit, or so as much thereof hereof as has not theretofore been applied by Lessorutilized for said purposes, shall be returnedrefunded to Lessee, without payment interest, upon full performance of interest or this Lease by Lessee. Lessor shall have the right to co-mingle said deposit with other increment for its use, funds of Lessor. Lessor may deliver the funds deposited herein by Lessee to Lessee (or, at the purchaser of Lessor's optioninterest in the Leased Premises in the event such interest be sold and, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between thereupon Lessor and Lessee shall be discharged from further liability with respect to such deposit. Said deposit shall not be considered as liquidated damages and if claims of Lessor exceed said Security Depositdeposit, Lessee shall remain liable for the balance of such claims.

Appears in 1 contract

Samples: Pine Lane Plaza Lease Agreement (American Medical Alert Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 2500.00 (Currently on Deposit) as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent Initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security security Deposit.

Appears in 1 contract

Samples: Industrial Lease (Eltrax Systems Inc)

Security Deposit. Lessee shall deposit with Lessor Lessor, concurrently upon execution hereof $-0- hereof, the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or default, for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's Lessors option, to the last assignee, if any, of Lessee's interest hereunder) at within sixty (60) days following the expiration of the term hereof, hereof and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. The Lessee shall not have the right to apply the security deposit against rent owning during the final month(s) of the Term. SEE PARAGRAPH 75.

Appears in 1 contract

Samples: Office Lease (Yupi Internet Inc)

Security Deposit. Lessee shall does hereby deposit with Lessor upon execution hereof the sum of Nine Thousand Six Hundred Eight and 11/100s dollars ($-0- 9,608.11) as a security deposit which shall be held by Lessor as security for Lessee's the full and faithful performance by Lessee of each and every covenant and obligation of Lessee under this Lease. It is hereby explicitly understood and agreed that this security deposit is neither an advance deposit of rental nor a measure of Lessor's damages in case of any default by Lessee and that Lessor shall have no obligation to Lessee to pay any interest upon this security deposit nor to maintain this security deposit separate from Lessor's general funds. If any rental herein reserved or any other charges or sums payable by Lessee to Lessor are overdue and unpaid or if Lessor makes payments on behalf of Lessee's obligations hereunder. If , or if Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to perform any provision of the terms of this Lease, then in any such event Lessor may usemay, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shallat its option, from time to time, increase during and without prejudice to any other remedy which Lessor may have against Lessee, appropriate and apply the term security deposit toward the payment of the rents, charges or other sums due from Lessee, or toward any loss, damage or expense sustained by Lessor and resulting from or in connection with such default on the part of Lessee (but only to the extent of such rents, charges, other sums, loss, damage or expense); and in such event Lessee shall forthwith upon demand pay to Lessor the amount required to restore the security deposit to the original sum deposited. After termination of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that surrender of the amount Premises by Lessee, and satisfaction of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied the balance of the security deposit held by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after shall be promptly returned by Lessor to Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositwithout interest.

Appears in 1 contract

Samples: Lease (Somera Communications Inc)

Security Deposit. Lessee shall provide a security deposit (“Security Deposit”) in the amount of Twenty-Five Thousand Dollars ($25,000.00), in the form of an irrevocable letter of credit, in form reasonably satisfactory to Lessor (the “Letter of Credit”), which deposit shall be held by Lessor strictly in accordance with the terms of this Lease. Upon expiration or earlier termination of this Lease, the Letter of Credit, less any amounts due or owing to Lessor by Lessee pursuant to the terms of this Lease shall be released by Lessor to Lessee. Lessor shall not draw upon execution hereof $-0- as security for Lessee's faithful performance the Letter of Lessee's obligations hereunderCredit without first giving Lessee notice of such default and an opportunity to cure the same in accordance with the terms of this Lease. If Lessee fails Within fifteen (15) calendar days following the application of said Letter of Credit to correct any default by Xxxxxx, or to pay rent any amount due or other charges due hereunder, owing upon expiration or otherwise defaults with respect to any provision earlier termination of this Lease, Lessor may useshall provide Lessee with an accounting of such application. Upon default(s) by Xxxxxx, after first giving notice thereof and an opportunity to cure the same as provided hereinabove, Lessor shall have the right to apply so much of the Security Deposit, in its reasonable discretion by drawing against the Letter of Credit such amounts as are necessary, to cure such default(s) or retain all or pay any expenses incurred as a result of such default(s). Lessee shall, upon demand, restore any portion of said deposit the Security Deposit which may be applied by Lessor to the cure of any default(s) by Xxxxxx. In the event of a sale or transfer of Lessor’s interest in the Leased Premises, Lessor shall have the right to transfer its rights under the Letter of Credit to the purchaser or landlord, as the case may be, and provided such purchaser or landlord has accepted responsibility for the payment holding, application and return of the same in accordance with the terms of this Lease and notified Lessee of such assumption of responsibility, upon any rent or other charge in default or such transfer Lessor shall be relieved of all liability to Lessee for the payment return of any other sum to which Lessor may become obligated by reason of Lessee's defaultthe Security Deposit, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, and Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit look solely to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach purchaser or landlord for the return of this Leasethe Security Deposit. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor The Security Deposit shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without considered an advance payment of interest rent or other increment for its use, to Lessee (or, at a measure of Lessor's option, to the last assignee, if any, ’s damages in case of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositdefault by Xxxxxx.

Appears in 1 contract

Samples: Normandie Golf Club Lease Agreement

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge charges in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. Lessee understands and agrees that the Security Deposit is not prepaid rent and, specifically, that such Security Deposit may not be applied by Lessee as rent for the last month of the term of this Lease Agreement.

Appears in 1 contract

Samples: Trio Tech International

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 6,480.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease (Organic Food Products Inc)

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof the sum of $-0- 18,421.48 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease (J&j Snack Foods Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 10,781.25 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Qad Inc

Security Deposit. Lessee Tenant shall deposit with Lessor landlord upon execution commencement hereof the sum of Twenty three thousand ($-0- 23,000.00) Dollars as security for LesseeTenant's faithful performance of LesseeTenant's obligations hereunder. If Lessee Tenant fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor Landlord may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor Landlord may become obligated by reason of LesseeTenant's default, or to compensate Lessor Landlord for any loss or damage which Lessor Landlord may suffer thereby. If Lessor Landlord so uses or applies all or any portion of said deposit, Lessee Tenant shall within ten (10) days after written demand therefor deposit cash with Lessor Landlord in an amount sufficient to restore said deposit to the full amount hereinabove stated and LesseeTenant's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of and Landlord may at his option terminate this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor Landlord shall not be required to keep said deposit separate from its general accounts. If Lessee Tenant performs all of LesseeTenant's obligations hereunder, said deposit, deposit or so much thereof as has had not theretofore been applied by LessorLandlord, shall be returned, without payment of interest or other increment for its use, to Lessee Tenant (or, at LessorLandlord's option, to the last assignee, if any, of LesseeTenant's interest hereunder) at within fifteen (15) days after the expiration of the term hereof, and or after Lessee Tenant has vacated the Premises. No trust relationship , whichever is created herein between Lessor and Lessee with respect to said Security Depositlater.

Appears in 1 contract

Samples: Rockford Corp

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 0.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment increments for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at within sixty (60) days after the expiration of the term hereof, and after Lessee has vacated the Leased Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Colorado Business Bankshares Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease. Lessee shall, Lessee shall thereupon at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Talarian Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- $ 1 month's rent as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Supershuttle International Inc

Security Deposit. Lessee shall deposit with shall, on or before the commencement of the Term, deliver to Lessor upon execution hereof $-0- as security for Lessee's faithful performance a valid standby letter of Lessee's obligations hereunder. If Lessee fails credit issued by a reputable banking institution acceptable to pay rent or other charges due hereunderLessor (“Issuing Bank”), in the form set forth at Exhibit D, made a part hereof, or otherwise defaults such other form as is acceptable to Lessor in its absolute discretion, with respect an expiry no earlier than one year from the date of issuance, in the amount of Five Hundred Ninety-Three Thousand Three Hundred Seventy Dollars ($593,370.00) (or such greater amount, if any, which is advanced by Lessor as “Additional Construction Allowance” pursuant to Section 12.3 hereof) (“Letter of Credit”) which may be called, presented for payment and/or redeemed by Lessor in whole or in part at any provision of time and from time to time whenever (i) there has been a default by Lessee under this Lease, or (ii) this Letter of Credit or a letter of credit in substitution thereof is due to expire within thirty (30) days and a renewal or substitution letter of credit in the same form has not been issued by the Issuing Bank or another bank meeting the within criteria. Lessor may use, apply or retain use all or any portion part of said deposit the Letter of Credit for the payment of Rent or any rent or other charge charges in default under the Lease, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee's ’s default, or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee’s default. If Lessor so uses or applies all or any portion of said depositthe Letter of Credit is so used or applied, Lessee shall shall, within ten (10) days after written demand therefor therefor, deposit cash with Lessor in an amount sufficient to restore the full amount of said deposit Security Deposit to the full amount hereinabove stated and Lessee's failure to do so stated. The Letter of Credit (or a substitute letter of credit) shall be a material breach renewed and extended from time to time until thirty (30) days after the expiration of the Term in accordance with the terms of this Lease. If Lessor must give Lessee five (5) days’ written notice prior to presenting the monthly rent shallLetter of Credit (or any replacement Letter of Credit), from time to time, increase during the term of this Lease, and if Lessee shall thereupon deposit with fully cure all defaults prior to presentation, Lessor additional security deposit so that will refrain from presenting the amount Letter of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accountsCredit for payment. If Lessee performs all shall fully and faithfully perform every provision of Lessee's obligations hereunderthis Lease to be performed by it, said depositLetter of Credit, or so much thereof as has not theretofore been applied by Lessor, any cash Security Deposit shall be returned, without payment of interest or other increment for its use, returned to Lessee within fifteen (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder15) at days after the expiration of the Term. So long as (i) there is no default or event of default which has occurred and is continuing under the Lease and (ii) there have been no monetary delinquencies by Lessee during the Lease term hereof(whether or not cured), and after Lessee has vacated Lessor agrees that beginning in the Premises. No trust relationship 37th month of the Lease term, the amount of the Letter of Credit may be reduced by $27,724.00 per month, until the amount of the Letter of Credit is created herein between Lessor and Lessee with respect reduced to said Security Depositan amount equal to one month’s Base Rental.

Appears in 1 contract

Samples: Office Lease (Wageworks, Inc.)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 6,200.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Motor Cargo Industries Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof Nineteen Thousand Eight Hundred Sixty-seven and No/100 ($-0- 19,867.00) as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. Use.

Appears in 1 contract

Samples: Egghead Com Inc/De

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 7,297.50 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Transgenomic Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 10,867 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Valley National Corp /De/

Security Deposit. Concurrently with the Lessee's execution of this Lease, the Lessee shall deposit with the Lessor upon execution hereof $-0- the sum specified in item 8 of the Basic Lease Provisions as security for Lessee's the faithful performance by the Lessee of Lessee's obligations hereunderall covenants and conditions of this Lease. If the Lessee fails to pay rent shall breach or other charges due hereunder, default in the performance of any covenants or otherwise defaults with respect to any provision conditions of this Lease, including the payment of rent, the Lessor may use, apply or retain all the whole or any portion part of said such security deposit for the payment of any rent or other charge in default or for the payment of any other sum to which the Lessor may become obligated spend or be required to spend by reason of the Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If the Lessor so uses or applies all or any portion of said deposit, the Lessee shall shall, within ten (10) days after written demand therefor therefor, deposit cash with the Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and the Lessee's failure to do so shall be a material breach of this Lease. If Should the monthly rent shall, from time to time, increase during the term Lessee comply with all covenants and conditions of this Lease, Lessee shall thereupon deposit with Lessor additional the security deposit so that the amount of security deposit held by Lessor or any balance thereof shall at all times bear the same proportion to current rent as the original security deposit bears be returned to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, or at the option of the Lessor's option, to the last assignee, if any, assignee of the Lessee's interest hereunderin this Lease) at the expiration of the term hereof, term. The Lessee shall not be entitled to interest on the security deposit and after Lessee has vacated the Lessor shall have the right to commingle said security deposit with other funds of the Lessor. Should the Lessor sell its interest in the Premises. No trust relationship is created herein between , the Lessor may transfer to the purchaser thereof the then unexpended or unappropriated deposit and Lessee with respect to said Security Depositthereupon the Lessor shall be discharged from any liability for such funds.

Appears in 1 contract

Samples: Somera Communications Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 6162.80 and Deposit an additional $8,083.00 on January 1, 2004 with Lessor as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent Initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Redenvelope Inc

Security Deposit. Lessee shall deposit In conjunction with Lessor upon the execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said depositLease Agreement, Lessee shall within ten deliver a security deposit in the amount of Twenty Nine Thousand Six Hundred Fourteen and 66/100 Dollars (10$29,614.66); provided, however, Lessor shall credit Lessee Fourteen Thousand Eight Hundred Seven and 33/100 Dollars ($14,807.33) days after written demand therefor deposit cash with against the Base Rent for the thirteenth (13th) month following the Commencement Date. Upon the occurrence of any Event of Default (as hereinafter defined) by Lessee, Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shallmay, from time to time, increase during without prejudice to any other remedy, use the term security deposit paid to Lessor by Lessee as herein provided to the extent necessary to make good any arrears of this LeaseRent (as hereinafter defined) and any other actual damage, injury, expense or liability caused to Lessor by such Event of Default. Following any such application of the security deposit, Lessee shall thereupon deposit with pay to Lessor additional on demand the amount so applied in order to restore the security deposit so that to the amount thereof existing prior to such application. Any remaining balance of the security deposit held shall be returned by Lessor to Lessee within thirty (30) days after the termination of this Lease Agreement provided, however, Lessor shall have the right to retain and expend such remaining balance (a) to reimburse Lessor for any and all rentals or other sums due hereunder that have not been paid in full by Lessee and/or (b) for cleaning and repairing the Leased Premises if Lessee shall fail to deliver same at all times bear the termination of this Lease Agreement in a neat and clean condition and in as good a condition as existed at the date of possession of same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereofby Lessee, ordinary wear and tear only excepted. Lessor Lessee shall not be required entitled to keep said any interest on the security deposit. Such security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has shall not theretofore been applied by Lessor, shall be returned, without considered an advance payment of interest rental or other increment for its use, to Lessee (or, at a measure of Lessor's option, to the last assignee, if any, ’s damages in case of an Event of Default by Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lease Agreement (Kiromic Biopharma, Inc.)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 51,000.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, returned without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lease and Agreement (Authentic Specialty Foods Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof on September 1, 1997 $-0- 29,512.68 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said such deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Aviation Distributors Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- XXXX as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor for deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Microtel International Inc

Security Deposit. Lessee shall deposit LESSEE, concurrently with Lessor upon the execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may usehas deposited with LESSOR the sum of SEVEN HUNDRED THIRTY-SIX AND 60/100 ($736.60) dollars, apply or retain receipt of which is acknowledged by LESSOR. That deposit shall be held by LESSOR, without liability for interest, as security for the faithful performance by LESSEE of all or any portion the terms covenants and conditions of said deposit for this Lease by the LESSEE, provided that LESSEE shall not be excused from the payment of any rent or any other charge in default or for the payment of provided. If, at any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee any of the rental shall thereupon deposit with Lessor additional security deposit so that be overdue and unpaid, or any other sum payable by LESSEE to LESSOR shall be overdue and unpaid, the amount of security deposit held by Lessor shall LESSOR may, at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor its option (but LESSOR shall not be required to), apply any portion of the deposit to keep said deposit separate from the payment of such overdue rent or other sum. In the event of the failure of LESSEE to perform any of the terms, covenants and conditions of this Lease, then LESSOR, at its general accountsoption. If Lessee performs all of Lessee's obligations hereunder, said may apply the deposit, or so much thereof as has not theretofore been applied may be necessary to compensate LESSOR for all loss or damage sustained by LessorLESSOR, due to such breach on the part of LESSEE. Should the deposit be diminished, then LESSEE shall, upon written demand of LESSOR, forthwith remit to LESSOR a sufficient amount in cash to restore the security to the original sum deposited, and LESSEE'S failure to do so within three (3) days after receipt of such demand shall constitute breach of this Lease. Should LESSEE comply with all the terms, covenants, and conditions and promptly pay all the rental as it falls due, and all other sums payable by LESSEE to LESSOR, then the deposit shall be returned, without payment of interest or other increment for its use, returned in full to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) LESSEE at the expiration end of the term hereofof this Lease, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositor uponthe earlier termination of this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Nettaxi Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 33,000 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain pertain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial 7 security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If accounts if Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Biosite Diagnostics Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 1,818.70 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this his Lease, . Lessor may use, apply or retain all or any portion of said deposit for the payment of any 5 rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of or Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, . Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said and deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease. Lessee shall, Lessee shall thereupon at the time of such increase, deposit with Lessor additional money as a security deposit so that in the total amount of the security deposit held by Lessor shall be at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If accounts if Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: CRL Network Services Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 7,832 as security for Lessee's faithful performance of Lessee's obligations obligation hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated obliged by reason of Lessee's default, or to compensate Lessor for any loss or damage damages which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor therefore deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returnedrefunded, without payment of interest or other increment for its use, use to Lessee (or, or at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Imagemax Inc

AutoNDA by SimpleDocs

Security Deposit. Lessee shall has on deposit with Lessor upon execution hereof $-0- 5,661.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Jmar Industries Inc

Security Deposit. Lessee Subtenant shall deposit with Lessor Tenant upon execution hereof the sum seventy five thousand three hundred ninety two and 08/100 dollars ($-0- 75,392.08) as security Security for Lessee's faithful performance of LesseeSubtenant's obligations hereunder. If Lessee Subtenant fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this LeaseSublease, Lessor Tenant may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor Tenant may become obligated by reason of LesseeSubtenant's default, or to compensate Lessor Tenant for any loss or damage which Lessor Tenant may suffer thereby. If Lessor Tenant so uses or applies all or any portion of said deposit, Lessee Subtenant shall within ten (10) days after written demand therefor therefore deposit cash with Lessor Tenant in an amount sufficient to restore said deposit to the full amount hereinabove stated and LesseeSubtenant's failure to do so shall be a material breach of this LeaseSublease, and Tenant may at his option terminate this Sublease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor Tenant shall not be required to keep said deposit separate from its general accounts. If Lessee Subtenant performs all of LesseeSubtenant's obligations hereunderhereunder and under the Main Lease, said deposit, deposit or so much thereof as has had not theretofore been applied by Lessor, Tenant shall be returned, returned without payment of interest or other increment for its use, to Lessee Subtenant within fourteen (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder14) at days after the expiration of the term hereof, and or after Lessee Subtenant has vacated the Premises. No trust relationship sublease premises, whichever is created herein between Lessor and Lessee with respect to said Security Depositlater.

Appears in 1 contract

Samples: Sublease Agreement (Finet Com Inc)

Security Deposit. The provisions hereof are subject in all respects to Exhibit "C" attached hereto and made a part hereof as if set forth herein verbatim. Lessee shall deposit with Lessor upon simultaneously with the full execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion the amount of said One Hundred Nine Thousand Nine Hundred Ninety-eight and No/100 Dollars ($109,998) as a security deposit for (herein so called). Provided Lessee is not in default in the payment of any rent Base Annual Rental, Additional Rent or other charge in default or for the payment of any other sum to charges due Lessor, and further provided the Leases Premises are surrendered in as good a condition as exists on the date hereof, reasonable wear and tear excepted, and except as set forth and described further on Exhibit "C" which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor provides for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any a portion of the security deposit to be earlier returned to Lessee, said deposit, security deposit shall be returned to Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach expiration or earlier termination of this Lease. If Notwithstanding the monthly rent shallforegoing, from the full or partial return by Lessor to Lessee of the security deposit shall at no time be deemed to time, increase during the term constitute a waiver by Lessor of any of Lessee's obligations under this Lease, or an acknowledgment by Lessor that any such obligations are limited to the amount, if any, of the security deposit retained by Lessor. If Lessee is in default or is otherwise indebted to Lessor hereunder or if the Leased Premises are not left in the condition above-described, or if Lessee has failed or refused to remove Lessee's personal property from the Leased Premises after the expiration or earlier termination of this Lease within a reasonable period of time after Lessor's written request to do so, then the security deposit shall be applied to the extent available on account of sums due Lessor or the cost of repairing damages to the Leased Premises or to remove Lessee's personal property. In the event the funds deposited with Lessor as the security deposit are applied during the Lease Term on account of sums due Lessor or to the cost of repairing damages the cost of which is to be borne by Lessee hereunder, the Lessee shall, within fifteen (15) days after written demand by Lessor, deposit with the Lessor additional funds to restore the security deposit to its original amount (or such lesser amount as is applicable after application of the provisions of Exhibit "C" hereto). In the event of the sale or transfer of Lessor's interest in the Leased Premises, Lessor shall transfer the security deposit to such purchaser or transferee and notify Lessee in writing thereof, in which event such transferee shall be deemed to have fully assumed and be liable for all obligations of this Lease to be performed by Lessor, including the return of the security deposit, and thereafter Lessee shall thereupon deposit with look only to the new Lessor additional for the return of the security deposit so that the amount of security deposit held by and Lessor shall at thereupon be released from all times bear liability to Lessee for the same proportion return of such security deposit. Lessee shall not be entitled to current rent as any interest on the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. deposit, and Lessor shall not be required to keep said segregate the security deposit separate from its general accounts. If Lessee performs all and may commingle the security deposit with other funds of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lease Contract (Charys Holding Co Inc)

Security Deposit. Lessee shall deposit have deposited with Lessor upon execution hereof $-0- hereof, the sum of *** as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit security deposit, and interest earned thereon, for the payment of any rent or other charge in default or for the payment of any other sum sums to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor thereof, deposit cash funds with Lessor Lessor, by good check, in an amount sufficient to restore said deposit to the full amount hereinabove herein-above stated and Lessee's failure to do so shall be a material breach of this Lease. If Lessee is in default under this Lease more two (2) times within any twelve (12) month period, irrespective of whether or not such default is cured, then, without limiting Lessor's other rights and remedies provided for in this Lease or at law or equity, or both, the monthly rent shallLessee, within ten (10) days of notice from time to timeLessor, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that such amount as is necessary to increase the amount of security deposit held by Lessor shall to two (2) times the amount held at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereoftime of said notice. Lessor shall not be required to keep said deposit separate from its general accounts, in an interest bearing account. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has had not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, returned to Lessee with interest earned thereon (or, or at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created granted herein between Lessor and Lessee with respect to said Security Deposit.security deposit. In the event Lessee has performed all of its obligations hereunder without default during the first Lease Year, the security deposit shall be reduced to *** and Lessor shall refund, promptly, the difference. Certain information in this document denoted by the symbol *** has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Confidential Treatment Requested by Environmental Solutions Worldwide, Inc.

Appears in 1 contract

Samples: Confidential Treatment (Environmental Solutions Worldwide Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 10,000.00 as security for Lessee's faithful performance of Lessee's ---------- obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Image Entertainment Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the sum of Sixty-Nine Thousand Seven Hundred Sixty-Two and No/100 ($-0- 69,762.00) as security for Lessee's faithful performance of Lessee's obligations hereunder. Lessor shall have the right, at its option, to require Lessee to deposit with Lessor, in lieu of a cash security deposit, an irrevocable letter of credit in favor of Lessor in form and substance and issued by an institution satisfactory and to Lessor. If Lessee fails to pay rent Rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit or proceeds of the letter of credit for the payment of any rent Rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall shall, within ten (10) days after written demand therefor therefor, deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be deemed a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without with payment of interest or other increment for its use, thereon on any cash deposit at the rate of five percent (5%) per annum to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, hereof and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsecurity deposit. In the event the security deposit is in the form of a letter of credit, Lessee shall be required to deliver evidence of the renewal thereof at least thirty (30) days prior to the then current expiration date thereof.

Appears in 1 contract

Samples: Lease Agreement (Alternative Distribution Systems Inc)

Security Deposit. Lessee shall, prior to the commencement of this Rental Agreement, deposit the sum of $ as and for a security deposit. Said deposit shall deposit be held by Lessor, with Lessor upon execution hereof $-0- right of comminglement and use, without liability for interest or duty to render accounting as security for Lessee's the faithful performance by Lessee of Lessee's obligations hereunderall terms, covenants and conditions of this Rental Agreement. If Lessee fails to pay rent or other charges due hereunderkeep and perform any of the terms, or otherwise defaults with respect to any provision covenants and conditions of this LeaseRental Agreement, Lessor then Lessor, at its option, may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been may be necessary, to compensate Lessor for loss or damage sustained or suffered by Lessor due to such breach on the part of Lessee. Should the entire deposit, or any portion thereof, be so applied by Lessor, the Lessee shall upon Lessor’s demand, forthwith remit to Lessor a sufficient sum to restore said security to the original sum deposited, and Lessee’s failure to do so within five (5) calendar days after receipt of such demand shall constitute a breach of this Rental Agreement. Security deposit will be kept by Lessor on 6-month contract in the event guest does not remain renting for a minimum of 6- months. Security deposit will be forfeited in the event that proper notice of 30-days is not given. Should Lessee comply with all of said terms, covenants and conditions and promptly pay all of the rents herein provided for as they fall due, and all other sums payable by Lessee to Lessor hereunder, said deposit shall be returned, without payment of interest or other increment for its use, returned in full to Lessee (or, at Lessor's option, to the last assignee, if any, of within a reasonable time after Lessee's interest hereunder) at the expiration ’s vacating of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositpremises.

Appears in 1 contract

Samples: Rental Agreement

Security Deposit. Lessee shall (c) It is agreed that Lessee, at the time of execution of this Lease, has deposited with the Lessor, and will keep on deposit with Lessor upon execution hereof at all times during the term and any extended term of this Lease, the sum of Thirteen Thousand Eight Hundred Sixty Three and 15/100 Dollars ($-0- 13,863.15) as security for Lessee's the full and faithful performance of every provision of this Lease to be performed by Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of rent, Lessor may may, without further notice to Lessee, use, apply or retain all or any portion part of said this security deposit for the payment of any rent or other charge any sum, in default default, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason reasons of Lessee's default, default or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee's default. If Lessor so uses or applies all or any portion of said depositdeposit is so used or applied, Lessee shall within ten five (105) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said the security deposit to the full its original amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term Said deposit shall not be considered as liquidated damages and if claims of this LeaseLessor exceed said deposit, Lessee shall thereupon deposit with Lessor additional security deposit so that remain liable for the amount balance of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereofsuch claims. The Lessor shall not be required to keep said this security deposit separate from its general accountsfunds and Lessee shall not be entitled to interest on such deposit. If Lessee performs all shall fully and faithfully perform every provision of Lessee's obligations hereunderthis Lease to be performed by it, said deposit, the security deposit or so much any balance thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, returned to Lessee within sixty (60) days (or, at Lessor's option, to the last assignee, if any, assignee of Lessee's interest hereunder) at of the expiration of the Lease term hereofand upon Lessee's vacation of the Premises and Lessee's performance of all provisions of the Lease. In the event of termination of Lessor's interest in this Lease, and after Lessor shall transfer said deposit to Lessor's successor in interest, whereupon, Lessee has vacated agrees to release Lessor from liability for the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositreturn of such deposit or the accounting therefor.

Appears in 1 contract

Samples: Office Lease (Cavion Technologies Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof hereof, the sum of Eight Thousand Seven Hundred Fifty and 00/100 Dollars ($-0- 8,750.00) as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall shall, within ten Fifteen (1015) days after written demand therefor thereof, deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, returned without payment of interest or other increment for its use, use to Lessee (or, or at Lessor's option, to the last assignee, if any, of or Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premisespremises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lease Agreement (American Bank Note Holographics Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 4,500.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, deposit or so much thereof as has not theretofore been applied by Lessor, shall be returned, returned without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, hereof and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Rosetta Inpharmatics Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails falls to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent Initial Base Rent set forth in paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other of her increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if it any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Icx Electronics Inc)

Security Deposit. Notwithstanding anything to the contrary contained in the Lease, Lessee hereby waives the provisions of Paragraph 1950.7 of the California Civil Code and all other provisions of law, now or hereafter in effect, which provide that Lessor may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Lessee or to clean the Premises, it being agreed that Lessor may, in addition, claim those sums reasonably necessary to compensate Lessor for any other loss or damage, foreseeable or unforeseeable, caused by the acts or omissions of Lessee or any officer, employee, agent, contractor or invitee of Lessee. Notwithstanding anything to the contrary contained in this Lease, Lessee acknowledges that no portion of the Security Deposit shall deposit with Lessor upon execution hereof $-0- as be used for the last month's Base Rent but shall be security for Lessee's faithful and timely performance of Lessee's obligations hereunderthe terms and provisions of the Lease. If Lessee fails to timely pay rent the last month's Base Rent on or other charges due hereunderprior to the first of such month, or otherwise defaults with respect to any provision then Lessee hereby agrees (i) that such failure shall accelerate the expiration date of this Leasethe Lease by one month, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, (ii) that Lessee shall within ten be deemed to be holding over under the Lease during what otherwise would have been the last month of the Lease Term and (10iii) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit that Lessee shall be subject to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach provisions of this Lease. If the monthly rent shall, from time to time, increase Paragraph 54 above commencing during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore what otherwise would have been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration month of the term hereof, Lease Term and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositcontinuing thereafter.

Appears in 1 contract

Samples: uWink, Inc.

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 10,000.00 (existing) as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Micro Therapeutics Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 11,875.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Qad Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- N/A as security for Lessee's Xxxxxx’s faithful performance of Lessee's Xxxxxx’s obligations hereunder. If Lessee Xxxxxx fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to for which Lessor may become obligated by reason of Lessee's Xxxxxx’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated stated, and Lessee's Xxxxxx’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee Xxxxxx performs all of Lessee's Xxxxxx’s obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by LessorXxxxxx, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's ’s option, to the last assignee, if any, of Lessee's Xxxxxx’s interest hereunder) at the expiration of the term hereof, Term and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Basic Terms Sheet (Syncardia Systems Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails falls to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in In default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in In an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in In paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if it any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (American River Holdings)

Security Deposit. Lessee shall deposit with Lessor lessor upon execution hereof $-0- 96,250.00 as security for Lessee's Lessor’s faithful performance of Lessee's ’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's ’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original originals monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's ’s obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's ’s option, to the last assignee, if any, of Lessee's ’s interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: The Lease Agreement (TUTOR PERINI Corp)

Security Deposit. Lessee shall deposit with Lessor Lessor, upon execution hereof $-0- of this Lease, as a security deposit for Lessee's ’s faithful performance of Lessee's ’s obligations hereunder, cash in the amount of Twenty Six Thousand Two Hundred Seventy Five Dollars and Thirty Cents ($26,275.30). If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may may, without waiving or releasing Lessee from any obligation under this Lease, and without waiving Lessor’s right to treat such failure as a default hereof, use, apply apply, or retain all or any portion of said cash deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said cash deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's ’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said Said cash deposit, or so much thereof as has not theretofore been applied by Lessorless sums which Lessor is entitled to deduct therefrom pursuant to this paragraph, shall be returned, without payment of interest or other increment for its use, returned to Lessee (or, at Lessor's Lessee’s option, to the last assignee, if any, of Lessee's ’s interest hereunder) ), without interest, at the expiration of the term hereof, hereof and within twenty one (21) days after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsecurity deposit, and Lessor may commingle it, use it in ordinary business, transfer or assign it, or use it in any combination of those ways. In the event Lessor transfers its interest in this Lease, Lessor shall transfer said deposit to Lessor’s successor in interest, whereupon Lessor shall no longer have any liability for the return of such deposit or the accounting therefor.

Appears in 1 contract

Samples: And Attornment Agreement (NeoStem, Inc.)

Security Deposit. Lessee LESSEE shall deposit with Lessor LESSOR upon execution hereof $-0- 24,100 Refer to Paragraph 48 as security for Lessee's LESSEE'S faithful performance of Lessee's LESSEE'S obligations hereunder. If Lessee LESSEE fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this LeaseLEASE, Lessor LESSOR may use, apply or or, retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor LESSOR may become obligated by reason of Lessee's LESSEE'S default, or to compensate Lessor LESSOR for any loss or damage which Lessor LESSOR may suffer thereby. If Lessor LESSOR so uses or applies all or any portion of said deposit, Lessee LESSEE shall within ten (10) days after written demand therefor deposit cash with Lessor LESSOR in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach then required of this LeaseLESSEE. If the monthly rent shall, from time to time, increase during the term of this LeaseLEASE, Lessee shall thereupon LESSEE shall, at the time of such increase, deposit with Lessor LESSOR additional money as a security deposit so that the total amount of the security deposit held by Lessor LESSOR shall at all times bear the same proportion to the then current rent BASE RENT as the original initial security deposit bears to the original monthly rent initial BASE RENT set forth in paragraph 4 hereof4. Lessor LESSOR shall not be required to keep said security deposit separate from its general accounts. If Lessee LESSEE performs all of Lessee's LESSEE'S obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by LessorLESSOR, shall be returned, without payment of interest or other increment for its use, to Lessee LESSEE (or, at LessorLESSOR's option, to the last assignee, if any, of Lessee's LESSEE'S interest hereunder) at the expiration of the term hereof, and after Lessee LESSEE has vacated the PremisesPREMISES. No trust relationship is created herein between Lessor BETWEEN LESSOR and Lessee LESSEE with respect to said Security DepositSECURITY DEPOSIT.

Appears in 1 contract

Samples: Applied Molecular Evolution Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.11 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment or offset of any rent or other charge in default or default, for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If As the monthly base rent shallshall increase at the commencement of the First Extended Term, from time to time, increase during the term Second Extended Term and Third Extended Term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear equal three (3) months of the same proportion to current rent as the original security deposit bears to the original then monthly rent set forth in paragraph 4 hereofbase rent. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsecurity deposit.

Appears in 1 contract

Samples: Lease Acceptance Agreement (Coast Bancorp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 25,000 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lithia Motors Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 1,843.20 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Qad Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 16,683.23 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of the any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore the said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be in a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at within thirty (30) days of the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Wyman Plaza (Tsi International Software LTD)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails In addition to said rent, Xxxxxx agrees to pay rent or other charges due hereunderthe sum of $ 200.00 herewith as a security deposit. Said deposit is Xxxxxx's proof to Xxxxxx of his intention to occupy the apartment and faithfully fulfill the terms of the lease. Should Lessee fail to occupy the apartment and/or fail to fulfill the Lease by reason of any default, or otherwise defaults with respect to any provision said security deposit shall be forfeited and retained by Lessor. At the expiration of this Lease, said security deposit shall be applied as Lessor may usedeems reasonably necessary (1) for the cleaning of the demised premises and the items listed in any inventory attached hereto as part of this lease no less than $ -0- ; (2) for the repair of any damages to the demised premises, apply yard, fixtures, furnishings, or retain all or any portion of the items listed in said deposit inventory, reasonable wear and tear excepted; and (3) for the payment of any rent or other charge in default or for amount which is due and payable under the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach terms of this Leaselease, including, but not limited to, rent and late charges. If the monthly rent shall, from time to time, increase during the term After Xxxxxx's determination of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount reasonably necessary to accomplish the aforesaid, the remainder of the security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, shall be returned to Lessee by mailing it to him at his forwarding address without interest within 45 days of Lessee's interest hereunder) at his vacating the expiration demised premises. If Lessee does not provide Lessor with a forwarding address and Lessor cannot locate Lessee upon reasonable search and inquiry, Xxxxxx will be deemed to have forfeited said remaining security deposit to Lessor. Retention of the term hereof, and after Lessee has vacated security deposit by Lessor shall not prevent Lessor from recovering additional damages. The terms of the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositsecurity deposit agreement are expressly made a part of this Lease.

Appears in 1 contract

Samples: Apartment Lease Contract

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 7,278.40 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, returned without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lease and Agreement (Authentic Specialty Foods Inc)

Security Deposit. Upon delivery of this Lease to Lessor, Lessee shall deposit the above stated amount with Lessor as a security deposit for, at Lessor’s option, (1) application toward payment for repairs to the Premises not due to normal wear and tear upon execution hereof $-0- as security Lessor’s determining the need for repairs, during the Lease Term, to restore the Premises after damage attributable to Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails ’s acts or failure to pay rent or other charges due hereunderrepair under the provisions for this Lease, or otherwise defaults with respect to any provision upon expiration or early termination of this Lease, Lessor may useor, apply or retain all or any portion of said deposit (2) for the application toward payment of any rent or other charge rental payments in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said depositdeposit shall have been applied as provided herein, Lessee shall within ten (10) shall, upon 10 days after written demand therefor notice from Lessor, deposit cash with Lessor in an amount sufficient money to restore the said fund to its original amount. Any balance in said security deposit to the full amount hereinabove stated and Lessee's failure to do so account shall be a material breach remitted to Lessee upon expiration or earlier termination of this Lease. If Said deposit account shall be a non-interest bearing account and Lessor may, at its option, commingle such funds with its other assets. Lessor shall have the monthly rent shallright to transfer, from time to timeassign and convey, increase during in whole or in part, the term Premises together with all of its rights under this Lease, Lessee shall thereupon deposit and in the event Lessor assigns its rights hereunder together with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears right to the original monthly rent set forth deposit described herein, Lessee agrees to look solely at such successor in paragraph 4 hereof. interest of the Lessor for performance of such obligations; provided, however, Lessor shall not be required to keep said deposit separate released from its general accounts. If Lessee performs all liability regarding any claims or cause of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, action existing prior to the last assigneedate of transfer, if anyassignment or conveyance as provided hereinabove, of Lessee's interest hereunder) at the expiration and further provided that Lessee shall not be disturbed in its occupancy of the term hereof, and after Premises so long as Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Depositnot in default under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Accuride Corp)

Security Deposit. Lessor acknowledges deposit by Lessee shall deposit with Lessor upon execution hereof of $-0- 96,250 as security for Lessee's ’s faithful performance of Lessee's ’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Leaselease, Lessor may use, apply or retain all or any portion of or said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's ’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove herein above stated and Lessee's ’s failure to do so shall be a material breach of or this Lease. If the monthly rent shall, from time to time, increase during the term of or this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's ’s obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's ’s option, to the last assignee, if any, of or Lessee's ’s interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: TUTOR PERINI Corp

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 2,900.00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision provisions of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor therefore deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original originally monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, hereunder said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its it use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Coyote Sports Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 15,331.25 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent Initial Base Rent set forth in paragraph 4 hereof4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Qad Inc

Security Deposit. Lessee shall provide a security deposit (“Security Deposit”) in the amount of Twenty-Five Thousand Dollars ($25,000.00), in the form of an irrevocable letter of credit, in form reasonably satisfactory to Lessor (the “Letter of Credit”), which deposit shall be held by Lessor strictly in accordance with the terms of this Lease. Upon expiration or earlier termination of this Lease, the Letter of Credit, less any amounts due or owing to Lessor by Lessee pursuant to the terms of this Lease shall be released by Lessor to Lessee. Lessor shall not draw upon execution hereof $-0- as security for the Letter of Credit without first giving Lessee notice of such default and an opportunity to cure the same in accordance with the terms of this Lease. Within fifteen (15) calendar days following the application of said Letter of Credit to correct any default by Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails , or to pay rent any amount due or other charges due hereunder, owing upon expiration or otherwise defaults with respect to any provision earlier termination of this Lease, Lessor may useshall provide Lessee with an accounting of such application. Upon default(s) by Lessee, after first giving notice thereof and an opportunity to cure the same as provided hereinabove, Lessor shall have the right to apply so much of the Security Deposit, in its reasonable discretion by drawing against the Letter of Credit such amounts as are necessary, to cure such default(s) or retain all or pay any expenses incurred as a result of such default(s). Lessee shall, upon demand, restore any portion of said deposit the Security Deposit which may be applied by Lessor to the cure of any default(s) by Lessee. In the event of a sale or transfer of Lessor’s interest in the Leased Premises, Lessor shall have the right to transfer its rights under the Letter of Credit to the purchaser or landlord, as the case may be, and provided such purchaser or landlord has accepted responsibility for the payment holding, application and return of the same in accordance with the terms of this Lease and notified Lessee of such assumption of responsibility, upon any rent or other charge in default or such transfer Lessor shall be relieved of all liability to Lessee for the payment return of any other sum to which Lessor may become obligated by reason of Lessee's defaultthe Security Deposit, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, and Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit look solely to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach purchaser or landlord for the return of this Leasethe Security Deposit. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor The Security Deposit shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without considered an advance payment of interest rent or other increment for its use, to Lessee (or, at a measure of Lessor's option, to the last assignee, if any, ’s damages in case of default by Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Normandie Golf Club Lease Agreement

Security Deposit. Lessee shall deposit have deposited with Lessor upon execution hereof hereof, the sum of ($-0- 16,041.66) SIXTEEN THOUSAND FORTY ONE DOLLARS AND SIXTY SIX CENTS as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said security deposit for the payment of any rent or other charge in default or for the payment of any other sum sums to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor thereof, deposit cash funds with Lessor Lessor, by good check, in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If Lessee is in default under this Lease more two (2) times within any twelve (12) month period, irrespective of whether or not such default is cured, then, without limiting Lessor's other rights and remedies provided for in this Lease or at law or equity, or both, the monthly rent shallLessee, within ten (10) days of notice from time to timeLessor, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that such amount as is necessary to increase the amount of security deposit held by Lessor shall to two (2) times the amount held at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereoftime of said notice. Lessor shall not be required to keep said deposit separate from its general accounts, in an interest bearing account. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has had not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, returned to Lessee with interest earned thereon (or, or at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created granted herein between Lessor and Lessee with respect to said Security Depositsecurity deposit.

Appears in 1 contract

Samples: Lease Agreement (Dataram Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- the security deposit set forth in paragraph 1.9 of the Basic Lease Provisions as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Base Rent set forth in paragraph 4 hereof1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be returned, without payment of interest obligations hereunder, said deposit, or so much thereof as has not heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Smartflex Systems Inc)

Security Deposit. Lessee Lessee’s “Security Deposit” under this Lease shall deposit be the amount specified in Article 1.i. above, which amount shall be deposited with Lessor upon as follows: Sixty-Three Thousand One Hundred Ninety-Seven and 75/100 Dollars ($63,197.75) of such Security Deposit shall be deposited with Lessor concurrently with the execution hereof of this Lease, and Three Hundred Thousand Dollars ($-0- 300,000.00) of such Security Deposit shall be deposited with Lessor on or before the Commencement Date (and the full deposit of such funds shall be a condition precedent to Lessee’s right to occupy the Premises, although the Commencement Date shall occur notwithstanding any delay in Lessee’s deposit of such funds). The Security Deposit shall be held by Lessor as security for Lessee's the faithful performance by Lessee of Lessee's obligations hereunderall the terms, covenants and conditions of this Lease to be kept and performed by Lessee during the Term. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, but not limited to the provisions relating to the payment of Rentals or relating to the condition of the Premises at Lease Termination, Lessor may (but shall not be required to) use, apply or retain all or any portion part of said deposit the Security Deposit for the payment of any rent Rental or any other charge sum in default default, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee's ’s default, or to compensate Lessor for any other reasonable loss or damage which Lessor may suffer therebyby reason of Lessee’s default. If Lessor so uses or applies all or any portion of said depositthe Security Deposit is so used or applied, Lessee shall within ten twenty (1020) days after written demand therefor therefor, deposit cash with Lessor in an amount sufficient to restore said deposit the Security Deposit to the full its original amount hereinabove stated and Lessee's ’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit the Security Deposit separate from its general accounts. If funds, and Lessee performs all of Lessee's obligations hereundershall not be entitled to interest on the Security Deposit; provided, said deposithowever, or so much thereof as that if Lessee has not theretofore been applied by Lessorin default under this Lease (after the expiration of any applicable cure period), Lessee shall be returnedentitled to a credit in the amount of Twenty-Two Thousand Five Hundred Dollars ($22,500.00) against Base Rent otherwise coming due for the seventy-third (73rd) month of the Term. Lessor is not a trustee of the Security Deposit and may use it in ordinary business, without payment transfer it or assign it, or use it in any combination of such ways. Lessee hereby grants to Lessor a first priority security interest or in the Security Deposit. Upon Lessor’s request, Lessee shall promptly execute a separate security agreement, financing statement and/or such other increment documentation as may be requested by Lessor to further document and perfect Lessor’s security interest in the Security Deposit. If Lessee has then fully and faithfully performed every provision of this Lease to be performed by it, then Lessor shall apply Sixty Thousand Dollars ($60,000.00) of such Security Deposit to monthly Base Rent for its useeach of the thirteenth (13th), twenty-fifth (25th), thirty-seventh (37th), forty-ninth (49th) and sixty-first (61st) months of the Term and upon each such application, the amount of the Security Deposit for purposes of this Lease shall be reduced by the amount then being applied, and within two (2) weeks after Lease Termination and vacation of the Premises, the remaining portion of the Security Deposit shall be returned to Lessee (or, at Lessor's ’s option, to the last assignee, if any, assignee of Lessee's ’s interest hereunder) at by Lessee or its last assignee; provided, however if any portion or the expiration Security Deposit is to be applied to repair damages to the Premises caused by Lessee or Lessee’s Agents or to clean the Premises, then the balance of the term hereofSecurity Deposit shall be returned to Lessee (or, and after Lessee has vacated at Lessor’s option to the last assignee of Lessee’s interests hereunder) no later than thirty (30) days from the date Lessor receives possession of the Premises. No trust relationship Lessee shall not transfer or encumber the Security Deposit nor shall Lessor be bound by Lessee’s attempt to do so. If Lessor’s interest in this Lease is created herein between terminated, Lessor shall transfer the Security Deposit to Lessor’s successor in interest, and upon such transfer, Lessor shall be released from any liability to Lessee with respect to said the Security DepositDeposit and Lessee shall look only to the transferee for any return of the Security Deposit to which Lessee shall be entitled.

Appears in 1 contract

Samples: Office Lease (Vyyo Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof Fifteen Hundred Fifty ($-0- 1,550) as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails falls to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply apply, or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days day after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and then required of Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon Leases shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current rent Base Rent as the original initial security deposit bears to the original monthly rent initial Due Rent set forth in paragraph 4 hereof4. Lessor shall not be required to so keep said security deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term trim hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security DepositSecurity.

Appears in 1 contract

Samples: Profile Technologies Inc

Security Deposit. Lessee The Lessor shall continue to hold Lessee’s security/damage deposit with for Suite 201 as a Security/Damage Deposit for this Lease. This amount is due prior to taking occupancy of the premises by Lessee. Said sum shall be held by Lessor upon execution hereof $-0- as security for Lessee's the faithful performance by Lessee of Lessee's obligations hereunderall terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, but not limited to, the provisions relating to the payment of rent, Lessor may (but shall not be required to) use, apply or retain all or any portion part of said this security deposit for the payment of any rent or any other charge sum in default default, or for the payment of Of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee's ’s default, or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee’s default. If Lessor so uses or applies all or any portion of said depositdeposit is so used or applied, Lessee shall within ten five (105) days after written demand therefor therefore, deposit cash with Lessor in an amount sufficient to restore said the security deposit to the full its original amount hereinabove stated and Lessee's ’s failure to do so shall be a material breach breath of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said this security deposit separate from its the general accountsfunds, and Lessee shall not be entitled to interest on such deposit. If Lessee performs all shall fully and faithfully perform every provision of Lessee's obligations hereunderthis Lease to be performed by it, said deposit, the security deposit or so much any balance thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, returned to Lessee Tenant (or, at Lessor's Landlord’s option, to the last assignee, if any, assignee of Lessee's Tenant’s interest hereunder) at the expiration of the term hereofLease term. In the event of termination of Lessor’s interest in this Lease, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect shall transfer said deposit to said Security DepositLessor’s successor in interest.

Appears in 1 contract

Samples: Office Lease (Gabriel Technologies Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- 0.00-as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Optical Access Inc

Security Deposit. Lessee shall deposit has deposited, as a carry over from the Lease dated 4/10/89, with Lessor upon execution hereof $-0- 13,536.00 as security for Lessee's faithful ---------- performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Image Entertainment Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof $-0- $ .00 as security for Lessee's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults fails to perform with respect to any provision of this Lease, Lessor may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default due or for the payment of any other sum to which Lessor may become obligated by reason of Lessee's defaultfailure to perform, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor so uses or applies all or any portion of said deposit, Lessee shall within ten (10) days after written demand therefor thereof deposit cash with Lessor in an amount sufficient to restore said deposit to the full amount hereinabove stated and Lessee's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional monies as security deposit so that the amount of the security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) at the expiration of the term hereof, and after Lessee has vacated the PremisesPremises without any damage thereto and in a clean condition, free of debris. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease

Security Deposit. Concurrently with the Lessee's execution of this Lease, the Lessee shall deposit with the Lessor upon execution hereof $-0- the sum specified in item 8 of the Basic Lease Provisions as security for Lessee's the faithful performance by the Lessee of Lessee's obligations hereunderall covenants and conditions of this Lease. If the Lessee fails to pay rent shall breach or other charges due hereunder, default in the performance of any covenants or otherwise defaults with respect to any provision conditions of this Lease, including the payment of rent, the Lessor may use, apply or retain all the whole or any portion part of said such security deposit for the payment of any rent or other charge in default or for the payment of any other sum to which the Lessor may become obligated spend or be required to spend by reason of the Lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If the Lessor so uses or applies all or any portion of said deposit, the Lessee shall shall, within ten (10) days after written demand therefor therefor, deposit cash with the Lessor in an amount sufficient to restore said deposit to the full amount hereinabove herein above stated and the Lessee's failure to do so shall be a material breach of this Lease. If Should the monthly rent shall, from time to time, increase during the term Lessee comply with all covenants and conditions of this Lease, Lessee shall thereupon deposit with Lessor additional the security deposit so that the amount of security deposit held by Lessor or any balance thereof shall at all times bear the same proportion to current rent as the original security deposit bears be returned to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee's obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee (or, or at the option of the Lessor's option, to the last assignee, if any, assignee of the Lessee's interest hereunderin this Lease) at the expiration of the term hereof, term. The Lessee shall not be entitled to interest on the security deposit and after Lessee has vacated the Lessor shall have the right to commingle said security deposit with other funds of the Lessor. Should the Lessor sell its interest in the Premises. No trust relationship is created herein between , the Lessor may transfer to the purchaser thereof the then unexpended or unappropriated deposit and Lessee with respect to said Security Depositthereupon the Lessor shall be discharged from any liability for such funds.

Appears in 1 contract

Samples: Lease (Computer Motion Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!