Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Professional Office Building Lease (More Com Inc), Professional Office Building Lease (More Com Inc)
Security Deposit. Upon execution Tenant shall deposit with Landlord the sum of None upon commencement of the term of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all rent or any part of the security deposit to the payment of any rent other sum in default, default or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned [illegible] to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such said deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Lease Agreement (MKS Instruments Inc), Lease Agreement (MKS Instruments Inc)
Security Deposit. Upon On execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount sum set forth in Paragraph 7(c) of the Fundamental Basic Lease Provisions. Such sum shall be held by Landlord Information, in cash, as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of Tenant's obligations under this Lease, including, without limitation, the provisions relating to the payment of rent, . Landlord may (but shall not be required have no obligation to) use, apply or retain all or any part of use the security deposit or any portion thereof to the payment cure any Event of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, Default under this Lease or to compensate Landlord for any other loss or damage which Landlord may suffer by reason incurs as a result of Tenant's defaultfailure to perform any of Tenant's obligations hereunder. If any In such event Tenant shall immediately pay to Landlord an amount sufficient to replenish the security deposit to the sum initially deposited with Landlord. At the expiration or termination of this Lease, Landlord shall return to Tenant such portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with the balance thereof then held by Landlord in an amount sufficient to restore and not applied as provided above. Landlord may commingle the security deposit to its original amount with Landlord's general and Tenant's failure to do so shall be a material breach of this Lease. other funds, and Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to pay interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or to Tenant. The immediately preceding sentence shall not apply to any balance thereof shall be returned to Tenant amounts drawn down under the Letter of Credit (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration defined in Paragraph 2 of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestAdditional Provisions Rider attached hereto as Exhibit D).
Appears in 2 contracts
Samples: Lease Agreement (Crossworlds Software Inc), Lease Agreement (Crossworlds Software Inc)
Security Deposit. Upon execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in upon execution hereof the amount Security Deposit set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord paragraph 1 above as security for the Tenant's faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofTenant's obligations hereunder. If Tenant fails to pay Rent or any other charges payable by Tenant hereunder, or otherwise defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) at its option use, apply or retain all or any part portion of the security deposit Security Deposit (i) to remedy Tenant's defaults in the payment of Rent or any rent in defaultother sums payable by Tenant pursuant to the terms hereof, (ii) to repair any damage to the Premises, (iii) to clean and otherwise maintain the Premises, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or (iv) to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultthereby. If Landlord so uses or applies all or any portion of the security deposit is so used or appliedSecurity Deposit, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original the full amount hereinabove stated and Tenant's failure to do so shall be a material breach of and a default under this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositaccounts. If Tenant shall fully and faithfully perform every provision performs all of this Lease to be performed by itTenant's obligations hereunder, the security deposit Security Deposit, or any balance so much thereof as has not theretofore been applied by Landlord, shall be returned returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord's option, to the last assignee assignee, if any, of Tenant's interest hereunder) at the expiration of the Lease term. In Term hereof, after Tenant has vacated the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestPremises.
Appears in 2 contracts
Samples: Lease Agreement (New Directions Manufacturing Inc), Multi Tenancy Industrial Lease (Maxam Gold Corp)
Security Deposit. Upon Tenant shall deposit with Landlord in advance upon Tenant’s execution of this Lease, Tenant shall pay to Landlord a security deposit in for Landlord’s general account, the amount Security Deposit set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Section 1.01.G hereof as security for the faithful performance by Tenant of all the termseach and every term, covenantscovenant, agreement and conditions condition of this Lease to be kept and performed by Tenant during Tenant. In the term hereof. If Tenant defaults with respect to any provision event of this Lease, including, without limitation, the provisions relating to the payment of renta Default, Landlord may (but shall not be required to) use, apply on Tenant’s behalf or retain (without liability for interest) during the Term all or any part of the security deposit Security Deposit to the payment of any rent in default, or extent required for the payment of any amount Rent which may be owed hereunder, or for any sum which Landlord may spend or become obligated expend to spend by reason cure any Default of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of After each application from the security deposit is so used or appliedSecurity Deposit, Tenant shall, within five (5) business days after written demand thereforof Notice from Landlord, deposit cash with Landlord in an amount sufficient to restore the security said deposit to its original the amount and Tenant's failure to do so shall be a material breach set forth in Section 1.01.G hereof. The use, application or retention of this Lease. the Security Deposit by Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee limitation on Landlord’s recovery in any case, or a waiver by Landlord of the security deposit. Tenant any Default, nor shall not be entitled to interest on such depositit prevent Landlord from exercising any other right or remedy for a Default by Tenant. If Tenant shall fully has complied with all the terms, covenants, agreements, and faithfully perform every provision conditions of this Lease to be performed by itLease, the security deposit or Security Deposit (less any balance thereof amount applied as herein provided) shall be returned to Tenant without interest within thirty (or, at Landlord's option, to 30) days after the last assignee Termination Date and after surrender of Tenant's interest hereunder) at the expiration possession of the Lease term. In Leased Premises to Landlord in accordance with the event terms of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Office Lease Agreement (SI-BONE, Inc.), Office Lease Agreement (SI-BONE, Inc.)
Security Deposit. Upon execution of this Lease, lease Tenant shall pay to will deposit with Landlord a security deposit in the amount set forth in Paragraph 7(csum of One hundred and one thousand four hundred seventy seven dollars and twenty five cents ($101,477.25) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security (“Security Deposit”) for the full and faithful performance by Tenant of all the terms, covenants, and conditions every provision of this Lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults is in Default with respect to any provision of this Lease, including, without limitationbut not limited to, the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to for the payment of any rent Rent and any other sum with respect to which Tenant is in defaultDefault, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, ’s Default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default’s Default. If any portion of the security deposit is so to be used or applied, Tenant shallTenant, within five (5) days after written demand therefortherefore, shall deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's ’s failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this the security deposit separate from its general funds, funds and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such any security deposit. Provided Tenant has not been in default under the Lease, the Security Deposit, will be reduced by one (1) month following the completion of every two (2) years of the Lease. If Tenant shall fully and faithfully perform performs every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, or at Landlord's option, ’s option to the last assignee of Tenant's ’s interest hereunder) at within thirty (30) days after the expiration of the Lease term. In Term and Tenant’s vacation of the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestPremises.
Appears in 2 contracts
Samples: Office Lease (ElectroCore, LLC), Office Lease (ElectroCore, LLC)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount The Security Deposit set forth in Paragraph 7(c) 1, if any, shall secure the performance of the Fundamental Lease ProvisionsTenant’s obligations hereunder. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the termsmay, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required obligated to) use, apply or retain all or any part portions of the security deposit to Security Deposit on account of Xxxxxx’s obligations hereunder. In the payment of any rent in default, event that Landlord applies all or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any a portion of the security deposit is so used or appliedSecurity Deposit to Tenant’s obligations hereunder, Tenant shallshall be obligated, within five (5) 30 days after written demand thereforof receipt of notice from Landlord, to deposit cash with Landlord in an amount sufficient to restore the security Security Deposit to the full amount stated in Paragraph 1 above. Failure to deposit to its original amount and Tenant's failure to do so such cash shall be a material breach default under the Terms of this Lease. Provided Tenant is not in default, any balance remaining upon termination shall be returned to Tenant. Tenant shall not have the right to apply the Security Deposit in payment of the last month’s Rent. No interest shall be paid by Landlord on the Security Deposit. In the event of a sale of the Project, Landlord shall have the right to transfer the Security Deposit to the purchaser, upon such transfer Landlord shall have no further liability with respect thereto, and Xxxxxx agrees to look solely to such purchaser for the return of the Security Deposit. Landlord shall not be required to keep this security deposit separate from its general fundsthe Security Deposit in a segregated account, and shall not the Security Deposit may be deemed commingled with other funds of Landlord. The Landlord agrees that the Tenant may in lieu of a trustee cash Security Deposit may post a letter of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed credit provided by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, a financial institution reasonably acceptable to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Office Lease (Ameriquest, Inc.), Office Lease (Ameriquest, Inc.)
Security Deposit. Upon execution of this Lease, Tenant shall pay Landlord and Xxxxxx acknowledge that Xxxxxx has delivered to Landlord a security deposit in $51,572.37 as the amount set forth in Paragraph 7(c) of Security Deposit. Landlord shall hold Tenant’s Security Deposit without liability for interest except to the Fundamental Lease Provisions. Such sum shall be held extent required by Landlord law, as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of ’s obligations under this Lease. Unless required by applicable law, Landlord shall not be required to keep this security deposit separate the Security Deposit segregated from its general funds, and shall not be deemed a trustee other funds of the security depositLandlord. Tenant shall not be entitled assign or in any way encumber the Security Deposit. Upon the occurrence of any event of default by Xxxxxx, and following the expiration of any applicable notice and cure period, Landlord shall have the right, without prejudice to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease any other remedy, to be performed by ituse the Security Deposit, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's optionportions thereof, to the last assignee extent necessary to pay any arrearage in Rent, and any other damage, injury or expense. Following any such application of Tenant's interest hereunderall or any portion of the Security Deposit, Tenant shall pay Landlord, on demand, the amount so applied in order to restore the Security Deposit to its original amount. Landlord shall reimburse Tenant such amount within thirty (30) at days of the expiration date of the Term, provided Tenant is not then in default under this Lease term(unless otherwise waived by Landlord). In If Landlord transfers an interest in the premises during the Term, Landlord may assign the Security Deposit to the transferee, and, in such event of termination and upon transferee’s written assumption of Landlord's interest in this Lease’s obligations to Tenant hereunder, Landlord shall transfer any remaining balance of such deposit thereafter have no further liability to Landlord's successor in interestTenant for the Security Deposit.
Appears in 2 contracts
Samples: Second Amendment to Lease (Mimedx Group, Inc.), Second Amendment to Lease (Mimedx Group, Inc.)
Security Deposit. Upon Contemporaneously with the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum Security Deposit, which shall be held by Landlord to secure Tenant's performance of its obligations under this Lease. The Security Deposit is not an advance payment of Rent or a measure or limit of Landlord's damages upon an Event of Default (as security for defined herein). Landlord may, from time to time following an Event of Default and without prejudice to any other remedy, use all or a part of the faithful performance by Security Deposit to perform any obligation Tenant fails to perform hereunder. Following any such application of the Security Deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Provided that Tenant has performed all of its obligations hereunder, Landlord shall, within 30 days after the termsTerm ends, covenantsreturn to Tenant the portion of the Security Deposit which was not applied to satisfy Tenant's obligations. The Security Deposit may be commingled with other funds, and conditions of this Lease to no interest shall be kept and performed by Tenant during the term hereofpaid thereon. If Tenant defaults with respect to any provision of Landlord transfers its interest in the Premises and the transferee assumes Landlord's obligations under this Lease, including, without limitation, then Landlord may assign the provisions relating Security Deposit to the payment of rent, transferee and Landlord may (but thereafter shall not be required to) use, apply or retain all or any part have no further liability for the return of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit.
Appears in 2 contracts
Samples: Lease Agreement (Cardionet Inc), Lease Agreement (Panoramic Care Systems Inc)
Security Deposit. Upon On execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(c) of Security Deposit (the Fundamental Lease Provisions. Such sum shall be held by Landlord “Security Deposit”), as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of Tenant’s obligations under this Lease, including, without limitation, the provisions relating to the payment of rent, . Landlord may (but shall not be required have no obligation to) use, apply or retain all use the Security Deposit or any part of the security deposit portion thereof to the payment of cure any rent in defaultbreach or default by Tenant under this Lease, or for the payment of to fulfill any amount which Landlord may spend or become obligated to spend by reason of Tenant's default’s obligations under the Lease, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason it incurs as a result of Tenant's default’s failure to perform any of Tenant’s obligations hereunder. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five (5) days after written shall pay to Landlord on demand therefor, deposit cash with Landlord in an amount sufficient to restore replenish the security deposit to its original amount and Tenant's failure to do so shall be a material breach Security Deposit. If at the expiration or termination of this Lease, Tenant is not in default, has otherwise fully performed all of Tenant’s obligations under this Lease, and there are no outstanding Claims (defined in Section 10.1 below, and including all existing and potential Claims) for which Tenant is responsible, Landlord shall return to Tenant the Security Deposit or the balance thereof then held by Landlord and not applied as provided above. Landlord may commingle the Security Deposit with Landlord’s general and other funds. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to pay interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease the Security Deposit to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Lease Agreement (Sagimet Biosciences Inc.), Lease Agreement (Sagimet Biosciences Inc.)
Security Deposit. Upon Contemporaneously with the execution of this Lease, Tenant shall will pay to Landlord a security deposit in the amount sum set forth in Paragraph 7(c) 7 of the Fundamental Basic Lease Provisions. Such sum shall be held by Landlord Provisions as “Security Deposit” as security for the faithful performance by Tenant of all the terms, covenants, and conditions of under this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect to any provision of this Lease, including, without limitation, and the provisions relating to the payment of rentsame is not cured within any applicable grace or cure periods hereunder, Landlord may (may, but shall will not be required to) , use, apply or retain all or any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's ’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit Security Deposit is so used or applied, Tenant shallwill, within five (5) days after written upon demand therefortherefore, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its the original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositamount. If Tenant shall Xxxxxx fully and faithfully perform performs every provision of this Lease to be performed by itXxxxxx, including surrender of the Premises in accordance with Section 7.4, the security deposit or any balance thereof shall Security Deposit will be returned to Tenant within thirty (or, at Landlord's option, to 30) days after the last assignee of Tenant's Expiration Date. Tenant will not assign or encumber Xxxxxx’s interest hereunder) at in the expiration Security Deposit and neither Landlord nor Xxxxxxxx’s successors or assigns will be bound by any such attempted assignment or encumbrance of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit.
Appears in 2 contracts
Samples: Office Building Lease, Office Building Lease (HII Technologies, Inc.)
Security Deposit. Upon Tenant shall pay to Landlord, immediately upon execution of this Lease, Tenant shall pay to Landlord a security deposit the sum specified in the amount set forth in Paragraph 7(c) of the Fundamental Basic Lease Provisions. Such sum shall be held by Landlord Provisions as security for the full and faithful performance by Tenant of all the terms, covenants, and conditions every provision of this Lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision provisions of this Lease, including, without limitationbut not limited to, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the this security deposit to for the payment of any rent or any other sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. No trust relationship is created hereby with respect to such security deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to the Tenant (or, or at the Landlord's option, to the last assignee of Tenant's interest interests hereunder) at the within thirty (30) days upon expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestTerm.
Appears in 2 contracts
Samples: Office Building Lease (Convera Corp), Office Building Lease (Convera Corp)
Security Deposit. Upon execution Tenant shall deposit with Landlord on the date of this Lease, Tenant shall pay as security for the performance of all of its obligations an amount equal to Landlord a security deposit in one month’s installment of Basic Rent (the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions“Security Deposit”). Such sum The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of Tenant’s obligations under this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect fails to make any provision of payment as and when due under this Lease, including, without limitation, the provisions relating or otherwise fails to the payment perform any of rentits obligations under this Lease, Landlord may (but shall not be required obligated to) use, apply or retain all or any part portion of the security deposit Security Deposit: (i) against any such payment(s) which Tenant failed to the payment of any rent in default, or make; (ii) for the payment of any amount other sum to which Landlord may spend or become obligated to spend by reason of Tenant's default, ’s failure to perform; or (iii) to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultthereby; so long as the foregoing is done in compliance with applicable law. If Landlord so uses or applies all or any portion of the security deposit is so used or appliedSecurity Deposit, Tenant shall, within five (5) business days after written demand therefor, notice shall deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original the full amount required above and Tenant's ’s failure to do so shall be a material breach constitute an Event of Default under this Lease. The Security Deposit, or so much thereof as has not theretofore been applied by Landlord pursuant to the terms of this Lease, shall be returned, without payment of interest, to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest under this Lease within a reasonable period of time after the end of the Term. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general fundsaccounts, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of no trust relationship is created in this Lease to be performed by it, the security deposit or any balance thereof shall be returned to between Landlord and Tenant (or, at Landlord's option, with respect to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit.
Appears in 2 contracts
Samples: Lease Agreement (Pacific Biometrics Inc), Lease Agreement (Pacific Biometrics Inc)
Security Deposit. Upon execution of Landlord acknowledges that Tenant has deposited with Landlord the Security Deposit referenced in the Schedule (the “Security Deposit”), and Landlord may apply the Security Deposit to any delinquent Rent due Landlord under this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on the Security Deposit, and Landlord may commingle the Security Deposit with other funds of Landlord. Furthermore, Landlord at its option may apply such deposit. If part of the Security Deposit as may be necessary to cure any default by Tenant shall fully under this Lease, and faithfully perform every provision if Landlord does so, Tenant shall, upon demand, redeposit with Landlord an amount equal to that amount so applied so that Landlord will have the full Security Deposit on hand at all times during the Term of this Lease to be performed by itLease. Upon the termination of this Lease, the security deposit or any balance thereof provided Tenant is not in default hereunder, Landlord shall be returned refund to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration any of the Lease termthen remaining balance of the Security Deposit without interest. In the event of termination a sale or leasing of Landlord's interest the Building referenced in this Leasethe Schedule (the “Building”) or the real property on which the Building is located, Landlord shall have the right to transfer any remaining balance the Security Deposit to the vendee or lessee and Landlord shall thereupon be released by Tenant from all liability for the return of such deposit the Security Deposit and Tenant agrees to Landlord's successor in interestlook to the new lessor solely for the return of the Security Deposit. The provisions hereof shall apply to every transfer or assignment made of the Security Deposit to a new lessor.
Appears in 2 contracts
Samples: Retail Lease Agreement, Retail Lease Agreement (Franklin Financial Network Inc.)
Security Deposit. Upon execution of this Lease, Tenant shall pay to has deposited with Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Security Deposit as security for the full and faithful performance by Tenant of all the terms, covenants, and conditions every provision of this Lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the including payment of rentthe Rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or Security Deposit for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's defaultRent, or to compensate Landlord for any other loss loss, cost or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefornotice thereof, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount amount, and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled nor pay interest to interest on such depositTenant. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termTerm and upon Tenant's vacation of the Premises. In If the Building is sold, the Security Deposit may be transferred to the new owner, and Landlord shall be discharged from further liability with respect thereto. The Security Deposit shall in no event of termination be considered an advance rental payment, nor a measure of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestdamages.
Appears in 2 contracts
Samples: Office Lease Agreement (Talk Com), Office Lease Agreement (Talk Com)
Security Deposit. Upon Concurrently with Tenant’s execution of this Leaselease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(c) sum of the Fundamental Lease Provisions. Such Twenty-Two Thousand Seven Hundred and Forty-Nine and 30/100 Dollars ($22,749.30), which sum shall be held by Landlord as a security deposit for the faithful performance by Tenant of all of the terms, covenants, covenants and conditions of this Lease lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision of this Leaselease, including, without limitationincluding but not limited to, the provisions relating to the payment of rentbasic rent and common area charges, Landlord may (but shall not be required to) use, apply apply, or retain all or any part of the this security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, ’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or appliedused, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an the amount sufficient to restore the security deposit to its original amount and amount; Tenant's ’s failure to do so shall be a material breach of this Leaselease. Landlord shall not be required to keep this security deposit separate from its general funds, funds and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision is not in default at the expiration or termination of this Lease to be performed by itlease, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to after Tenant has vacated the last assignee of Tenant's interest hereunder) at the expiration of the Lease termPremises. In the event of termination of Landlord's ’s interest in this Leaselease, Landlord shall transfer any remaining balance said deposit to Landlord’s successor in interest, and Tenant agrees that Landlord shall thereupon be released from liability for the return of such deposit to Landlord's successor in interestor any accounting therefor.
Appears in 2 contracts
Samples: Standard Industrial Lease (Southwall Technologies Inc /De/), Standard Industrial Lease (Southwall Technologies Inc /De/)
Security Deposit. Upon Contemporaneously with the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum Security Deposit, which shall be held by Landlord to secure Tenant's performance of its obligations under this Lease. The Security Deposit is not an advance payment of Rent or a measure or limit of Landlord's damages upon an Event of Default (as security for defined herein). Landlord may, from time to time following an Event of Default and without prejudice to any other remedy, use all or a part of the faithful performance by Security Deposit to perform any obligation Tenant fails to perform hereunder. Following any such application of all the termsSecurity Deposit, covenantsTenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Provided that Tenant is not in default under this Lease beyond any applicable notice and cure period, Landlord shall, within 30 days after the Term ends, return to Tenant the portion of the Security Deposit which was not applied to satisfy Tenant's obligations. The Security Deposit may be commingled with other funds, and conditions of this Lease to no interest shall be kept and performed by Tenant during the term hereofpaid thereon. If Tenant defaults with respect to any provision of Landlord transfers its interest in the Premises and the transferee assumes Landlord's obligations under this Lease, including, without limitation, then Landlord may assign the provisions relating Security Deposit to the payment of rent, transferee and Landlord may (but thereafter shall not be required to) use, apply or retain all or any part have no further liability for the return of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit.
Appears in 2 contracts
Samples: Lease Agreement (Biomira CORP), Agreement and Plan of Reorganization (Biomira Inc)
Security Deposit. Upon Concurrently with Tenant's execution of this Lease, Tenant shall pay to has deposited with Landlord a security deposit the Security Deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease ProvisionsSection 1.1(k). Such sum Said Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term Term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to this Security Deposit for the payment of any rent Rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit said Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefortherefore, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of default under this Lease. Landlord shall not be required to keep this security deposit Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositSecurity Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the within thirty days following expiration of the Lease termTerm. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit said Security Deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Retail Lease Agreement, Retail Lease Agreement
Security Deposit. Upon execution of this Lease, Tenant shall pay deliver to Landlord a at the time it executes this Lease the security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Section 1.10 as security for the Tenant's faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofTenant's obligations hereunder. If Tenant fails to pay Base Rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain use all or any part portion of the security said deposit to the payment of any rent in default, or for the payment of any amount Base Rent or other charge due hereunder, to pay any other sum to which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultthereby. If Landlord so uses or applies all or any portion of the security deposit is so used or appliedsaid deposit, Tenant shall, shall within five ten (510) days after written demand therefor, therefor deposit cash with Landlord in an amount sufficient to restore the security said deposit to its original amount and Tenant's failure to do so shall be a material breach of this Leasefull amount. Landlord shall not be required to keep this said security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositaccounts. If Tenant shall fully and faithfully perform every provision performs all of this Lease to be performed Tenant's obligations hereunder, said deposit, or so much thereof as has not heretofore been applied by itLandlord, the security deposit or any balance thereof shall be returned returned, without payment of interest or other amount for its use, to Tenant (or, at Landlord's option, to the last assignee assignee, if any, of Tenant's interest hereunder) at the expiration of the Lease termTerm hereof, and after Tenant has vacated the Premises. In No trust relationship is created herein between Landlord and Tenant with respect to said security deposit. Tenant acknowledges that the security deposit is not an advance payment of any kind or a measure of Landlord's damages in the event of termination of LandlordTenant's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestdefault.
Appears in 2 contracts
Samples: Standard Office Lease (Echo Therapeutics, Inc.), Standard Office Lease (Emisphere Technologies Inc)
Security Deposit. Upon Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofand not as an advance rental deposit or as a measure of Landlord’s damage in case of Tenant’s default. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or use any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's ’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit is so used or appliedused, Tenant shall, shall within five ten (510) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's ’s failure to do so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. deposit If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, . Landlord will return the security deposit Security Deposit or any balance thereof shall be returned to Tenant within sixty (or, at Landlord's option, 60) days after Tenant surrenders the Premises to the last assignee Landlord and provides written notice to Landlord of Tenant's interest hereunder) at the expiration ’s forwarding address, subject to all rights granted to Landlord under Chapter 93, including, without limitation, Section 93.006 of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestTexas Property Code.
Appears in 2 contracts
Samples: Lease Agreement (Reata Pharmaceuticals Inc), Lease (Reata Pharmaceuticals Inc)
Security Deposit. Upon Contemporaneously with the execution of this Lease, Tenant shall pay to Landlord a security deposit the Security Deposit (as defined in the amount set forth in Paragraph 7(c) of the Fundamental Basic Lease Provisions. Such sum Information), which shall be held by Landlord to secure Tenant’s performance of its obligations under this Lease. The Security Deposit is not an advance payment of Rent or a measure or limit of Landlord’s damages upon an Event of Default (as security for defined in Section 17). Landlord may, at Landlord’s discretion, from time to time following an Event of Default and without prejudice to any other remedy, use all or a part of the faithful performance by Security Deposit to perform any obligation Tenant fails to perform hereunder or in connection with Landlord’s remedies under this Lease. Following any such application of all the termsSecurity Deposit, covenantsTenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Subject to the requirements of, and conditions imposed by, Laws applicable to security deposits under commercial leases, Landlord shall, within the time required by applicable Law, return to Tenant the portion of this Lease to be kept the Security Deposit remaining after deducting all damages, charges and performed other amounts permitted by Law. Landlord and Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, includingagree that such deductions shall include, without limitation, all damages and losses that Landlord has suffered or that Landlord reasonably estimates that it will suffer as a result of any breach of this Lease by Tenant. Unless required otherwise by applicable Law, the provisions relating to Security Deposit may be commingled with other funds, and no interest shall be paid thereon. If Landlord transfers its interest in the payment of rentPremises, Landlord may assign the Security Deposit to the transferee and, upon such transfer (but shall not be required to) use, apply or retain all or any part and the delivery to Tenant of an acknowledgement of the security deposit to the payment of any rent in default, or transferee’s responsibility for the payment of any amount which Security Deposit if required by Law), Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord thereafter shall have no further liability for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion the return of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit.
Appears in 2 contracts
Samples: Office Lease Agreement (Markit Ltd.), Office Lease Agreement
Security Deposit. Upon execution The Security Deposit shall be held by Landlord without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under this LeaseLease including but not limited to those set forth in Paragraph 10 hereof, it being expressly understood that the Security Deposit shall not be considered an advance payment of rent or a measure of Tenant's liability for damages in case of default by Tenant. Landlord may commingle the Security Deposit with Landlord's other funds. Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrearages of rent or to satisfy any other covenant or obligation of Tenant hereunder. Following any such application of the Security Deposit, Tenant shall pay to Landlord a security deposit in on demand the amount set forth so applied in Paragraph 7(c) of order to restore the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease Security Deposit to be kept and performed by Tenant during the term hereofits original amount. If Tenant defaults with respect to any provision is not in default at the termination of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part balance of the security deposit to the payment of Security Deposit remaining after any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof application shall be returned by Landlord to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's If Landlord transfers its interest in the Premises during the term of this Lease, Landlord shall transfer any remaining balance assign the Security Deposit to the transferee and thereafter shall have no further liability for the return of such deposit Security Deposit. Tenant agrees to Landlord's look solely to such transferee or assignee or successor in interestthereof for the return of the Security Deposit. Landlord and its successors and assigns shall not be bound by any actual or attempted assignment or encumbrance of the Security Deposit by Tenant.
Appears in 2 contracts
Samples: Office Lease Agreement (Objectspace Inc), Office Lease Agreement (Objectspace Inc)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Section 1 hereof which Landlord will hold as security for the faithful performance by Tenant of all the terms, covenants, its covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of agreements under this Lease. In no event shall Landlord be obliged to apply same to rents or other charges in arrears or damages for Tenant’s default hereunder, including, without limitation, the provisions relating to the payment of rent, but Landlord may so apply the security deposit at its option following the expiration of all applicable notice and cure periods. Landlord’s right to possession of the Premises for Tenant’s default (but following the expiration of all applicable notice and cure periods) or any other reason shall not be required to) use, apply or retain all or any part of affected by the security deposit to the payment of any rent in default, or for the payment of any amount which fact that Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the holds said security deposit. Tenant shall The security deposit, if not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed so applied by itLandlord, the security deposit or any balance thereof shall be returned to Tenant within thirty (or30) days after this Lease terminates, at provided that Tenant shall have vacated the Premises and delivered the same to Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termas herein provided. In the event of termination any transfer of Landlord's ’s interest in this Leasethe Premises, Landlord shall have the right to transfer any remaining balance its interest in the security deposit, whereupon Landlord shall be released of all liability with respect to such deposit security deposit, and Tenant shall look solely to Landlord's successor in interestsuch transferee for the return of same.
Appears in 2 contracts
Samples: Sublease Agreement, Sublease Agreement (Verrica Pharmaceuticals Inc.)
Security Deposit. Upon execution of this Lease, Tenant shall pay has agreed to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Security Deposit as security for the faithful punctual performance by Tenant of all the terms, covenants, each and conditions every obligation of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of it under this Lease, including, without limitation, . In the provisions relating to the payment event of rentany default by Tenant, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit Security Deposit to cure the payment of default or to reimburse Landlord for any rent in default, or for the payment of any amount sum which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's the default. If any portion In the case of the security deposit is so used every such application or appliedretention, Tenant shall, within five (5) days after written demand thereforon demand, deposit cash with pay to Landlord in an amount sufficient the sum so applied or retained which shall be added to restore the security deposit Security Deposit so that the same shall be restored to its original amount amount. If at the end of the Term, Tenant shall not be in default under this Lease and Tenant's failure shall have delivered to do so Landlord evidence of final utility service readings and payment thereof, the Security Deposit or any balance thereof, shall be a material breach returned to Tenant within [***] days. If Landlord shall sell the Shopping Center, or shall lease the Shopping Center, in either case subject to this Lease, or shall otherwise assign or dispose of this Lease, Landlord may assign and turn over the Security Deposit or any balance thereof to Landlord's grantee, lessee or assignee, and Tenant hereby releases and relieves Landlord from any and all liability for the return of said deposit and shall look solely to said grantee, lessee or assignee; it being expressly agreed that this provision shall apply to each and every sale, conveyance or lease of the Shopping Center or assignment or disposition of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, place the Security Deposit in an interest-bearing account and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof said fund shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termwithout interest. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.---------- *** confidential treatment requested 8-4 46 ARTICLE 9
Appears in 2 contracts
Samples: Lease Agreement (Silicon Entertainment Inc /Ca/), Lease Agreement (Silicon Entertainment Inc /Ca/)
Security Deposit. Upon Concurrently with Tenant's execution of this Leaselease, Tenant shall pay to has deposited with the Landlord a sum of $1,500.00 as security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisionsdeposit. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenantsconvenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofthereof. If Tenant defaults with respect to any provision provisions of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the this security deposit to for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of on Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, applied Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's Tenants failure to do so shall be a material breach of default under this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the within ten (10) days following expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such said deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Commercial Lease (Northern Empire Bancshares), Commercial Lease (Northern Empire Bancshares)
Security Deposit. Upon execution In lieu of this Leasea Security Deposit, Tenant shall pay to Landlord the first month's rent upon the signing of this lease as a security good faith deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the full and faithful performance by Tenant of all the terms, covenants, terms and conditions of this Lease to Lease. Tenant waives any requirement that such payment be kept and performed by held in any escrow account or in any other way segregated from Landlord's other funds. Tenant during the term hereoffurther waives any requirement that such payment be held in any interest bearing account. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit required to cure any default of Tenant under the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount terms and Tenant's failure to do so shall be a material breach conditions of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination such application, Tenant must deposit with the Landlord the amount applied to cure its default immediately on notice from Landlord of Landlord's the nature and amount of the application. If Landlord transfers its interest in this the Lease, Landlord shall it may do either of the following: (1) return the deposit to Tenant, without interest, any deductions made and not replaced by Tenant; or (2) transfer the deposit, without interest, minus any remaining balance of such deposit deductions made and not replaced by Tenant, to Landlord's successor in interest. In the event Landlord transfers all or any portion of the deposit under this Paragraph, upon such transfer Landlord shall be relieved of all obligations with regard to the deposit, and all of rights and obligations regarding such good faith deposit shall accrue to the transferee. Landlord shall give Tenant notice of any such transfer, including the name and address of the transferee and the amount transferred.
Appears in 2 contracts
Samples: Lease Agreement (Embassy Bancorp, Inc.), Lease Agreement (Embassy Bancorp, Inc.)
Security Deposit. Upon execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in upon Tenant’s execution hereof the amount Security Deposit set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord 1.7 as security for the Tenant’s faithful performance by Tenant of all the terms, covenants, and conditions of Tenant’s obligations under this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect fails to any provision of pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under this Lease, including, without limitation, the provisions relating to the payment of rentLease (as defined in Paragraph 13.1), Landlord may (but shall not be required to) use, apply or retain all or any part portion of the security said Security Deposit, Tenant shall within ten (10) days after written request therefore deposit monies with Landlord sufficient to restore said Security Deposit to the payment full amount required by this Lease. Any time the Base Rent increases during the term of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or appliedthis Lease, Tenant shall, within five (5) days after upon written demand thereforrequest from Landlord, deposit cash additional monies with Landlord as an addition to the Security Deposit so that the total amount of the Security Deposit shall at all times bear the same proportion to the then current Base Rent as the initial Security Deposit bears to the initial Base Rent set forth in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this LeaseParagraph 1.5. Landlord shall not be required to keep this security deposit all or any part of the Security Deposit separate from its general fundsaccounts. Landlord shall, and shall not be deemed a trustee at the expiration or earlier termination of the security deposit. term hereof and after Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by ithas vacated the Premises, the security deposit or any balance thereof shall be returned return to Tenant (or, at Landlord's ’s option, to the last assignee assignee, if any, of Tenant's ’s interest hereunder) at the expiration herein), that portion of the Lease termSecurity Deposit not used or applied by Landlord. In Unless otherwise expressly agreed in writing by Landlord, no part of the event of termination of Landlord's Security Deposit shall be considered to be held in trust, to bear interest in or other increment for its use, or to be prepayment for any monies to be paid by Tenant under this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease Modified Net (Accelrys, Inc.), Standard Industrial/Commercial Multi Tenant Lease Modified Net (Symyx Technologies Inc)
Security Deposit. Upon On execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(c) of Security Deposit (the Fundamental Lease Provisions. Such sum shall be held by Landlord “Security Deposit”), as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of Tenant’s obligations under this Lease, including, without limitation, the provisions relating to the payment of rent, . Landlord may (but shall not be required have no obligation to) use, apply or retain all use the Security Deposit or any part of the security deposit portion thereof to the payment of cure any rent in defaultbreach or default by Tenant under this Lease, or for the payment of to fulfill any amount which Landlord may spend or become obligated to spend by reason of Tenant's default’s obligations under the Lease, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason it incurs as a result of Tenant's default’s failure to perform any of Tenant’s obligations hereunder. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five (5) days after written shall pay to Landlord on demand therefor, deposit cash with Landlord in an amount sufficient to restore replenish the security deposit to its original amount and Tenant's failure to do so shall be a material breach Security Deposit. If at the expiration or termination of this Lease, Tenant is not in default, has otherwise fully performed all of Tenant’s obligations under this Lease, and there are no outstanding Claims (defined in Section 10.1 below, and including all existing and potential Claims) for which Tenant is responsible, Landlord shall return to Tenant the Security Deposit or the balance thereof then held by Landlord and not applied as provided above. Landlord may commingle the Security Deposit with Lxxxxxxx’s general and other funds. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to pay interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease the Security Deposit to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Lease Agreement (Sagimet Biosciences Inc.), Lease Agreement (Sagimet Biosciences Inc.)
Security Deposit. Upon Concurrently with the execution of this Lease, Tenant shall pay to deposit with Landlord a the security deposit specified in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall subparagraph 1.
i. to be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect to any provision of this Lease, including, without limitationbut not limited to, the provisions relating to the payment of rent, ; Landlord may (but shall not be required to) use, apply or retain all or any part of the this security deposit to for the payment of any rent or any other amount in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Leaseamount. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termTerm. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such said deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Lease Agreement (RVision, Inc.), Office Lease Agreement (RVision, Inc.)
Security Deposit. Upon Contemporaneously with the execution of this Lease, Tenant shall will pay to Landlord a security deposit in the amount sum set forth in Paragraph 7(c) 6 of the Fundamental Lease Provisions. Such sum shall be held by Landlord Provisions as “Security Deposit” as security for the faithful performance by Tenant of all the terms, covenants, and conditions of under this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect to any provision of this Lease, includingLandlord may, without limitation, the provisions relating to the payment of rent, Landlord may (but shall will not be required to) , use, apply or retain all or any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's ’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit Security Deposit is so used or applied, Tenant shallwill, within five (5) days after written upon demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its the original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositamount. If Tenant shall fully and faithfully perform performs every provision of this Lease to be performed by itTenant, including surrender of the Premises in accordance with Section 7.4, the security deposit or any balance thereof shall Security Deposit will be returned to Tenant within thirty (or, at 30) days after the Expiration Date. Tenant will not assign or encumber Tenant’s interest in the Security Deposit and neither Landlord nor Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration ’s successors or assigns will be bound by any such attempted assignment or encumbrance of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit.
Appears in 2 contracts
Samples: Office Building Lease (Archipelago Learning, Inc.), Office Building Lease (Archipelago Learning, Inc.)
Security Deposit. Upon Concurrently with Tenant's execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(csum of Seventy Five Thousand and 00/100 ($75,000.00) of the Fundamental Lease ProvisionsDollars. Such Said sum shall be held by Landlord as security a Security Deposit for the faithful performance by Tenant of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitationbut not limited to, the provisions relating to the payment of rentrent and any of the monetary sums due herewith, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or this Security Deposit for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit said Deposit is so used or applied, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an the amount sufficient to restore the security deposit Security Deposit to its original amount and amount. Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositDeposit. If Tenant shall fully and faithfully perform performs every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, or at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termterm and after Tenant has vacated the Premises. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit said Deposit to Landlord's successor in interest.interest whereupon Tenant agrees to release Landlord from liability for the return of such Deposit or the accounting therefor. (Paragraph 4F is continued below)
Appears in 2 contracts
Samples: Lease Agreement (Intuit Inc), Lease Agreement (Intuit Inc)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount The Security Deposit set forth in Paragraph 7(c) paragraph 1, if any, shall secure the performance of the Fundamental Lease ProvisionsTenant's obligations hereunder. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the termsmay, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, obligated to apply or retain all or any part portions of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason Security Deposit on account of Tenant's default, obligations hereunder. In the event that Landlord applies all or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any a portion of the security deposit is so used or appliedSecurity Deposit to Tenant's obligations hereunder, Tenant shallshall be obligated, within five ten (510) days after written demand thereforof receipt of notice from Landlord, to deposit cash (or restore the LC) with Landlord in an amount sufficient to restore the security Security Deposit to the full amount stated in paragraph 1.8 above, subject to reduction as may be provided under this Lease. Failure to deposit to its original amount and Tenant's failure to do so such cash shall be a material breach default under the terms of this Lease. Provided Tenant is not in default, any balance remaining upon termination of the Lease shall be returned to Tenant within fifteen (15) days after expiration. Tenant shall not have the right to apply the Security Deposit in payment of the last month's rent. No interest shall be paid by Landlord on he Security Deposit. In the event of a sale of the Project, Landlord shall have the right to transfer the Security Deposit to the purchaser and upon such transfer Landlord shall have no further liability with respect thereto, and Tenant agrees to look solely to such purchaser for the return of the Security Deposit provided such transferee shall have acknowledged in writing the receipt of such security and the obligations with respect thereto under this Lease. Landlord shall not be required to keep this security deposit separate from its general fundsthe Security Deposit in a segregated account, and shall not the Security Deposit may be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination commingled with other funds of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 2 contracts
Samples: Office Lease (Starmedia Network Inc), Office Lease (Starmedia Network Inc)
Security Deposit. Upon The Security Deposit, which shall be paid upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord without liability for interest and not in trust or in a separate account, as security for the faithful performance by Tenant Client of all the terms, covenants, Client’s covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of obligations under this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but . The Security Deposit shall not be required to) useconsidered an advance payment of rental or a measure of Landlord’s damages in case of default by Client. Upon the occurrence of any Event of Default by Client, Landlord may, from time to time in its sole discretion, without prejudice to any other remedy, use and apply the Security Deposit to the extent necessary to make good any arrearages of rent and any other damage, injury, expense or retain all or liability suffered by Landlord by such Event of Default. Following any part such application of the security deposit Security Deposit, Client shall pay to Landlord on demand as Additional Rent the payment of any rent amount so applied in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient order to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositamount. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by itClient is not then in default hereunder, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit the Security Deposit shall be returned by Landlord to Client within a reasonable period of time after the termination of this Lease and (i) Client shall have surrendered the entire Premises to Landlord's successor , (ii) Landlord shall have inspected the Premises after such vacation, and (iii) Client shall have complied with all of the terms, conditions and covenants in interestthe Lease including payment of Basic Rental, Additional Rent, and accrued but unpaid late charges. If Landlord transfers its interest in the Premises during the Lease Term, Landlord shall assign the Security Deposit to the transferee and thereafter shall have no further liability for the return of such Security Deposit.
Appears in 2 contracts
Samples: Lease Agreement (2U, Inc.), Lease Agreement (2U, Inc.)
Security Deposit. Upon execution A. Tenant has previously deposited with Landlord the sum of One Hundred Ten Thousand and 00/100 Dollars ($110,000.00) intended to secure repayment of Landlord’s design, engineering, permitting, and construction expenses (the “Initial Deposit”).
B. Contemporaneous with the Date of this LeaseAgreement, Tenant Landlord shall pay credit the Initial Deposit as follows:
1. Retain a sum equal to Landlord the first month’s Base Rent as a security deposit to be held in trust by the amount set forth in Paragraph 7(c) of Landlord (the Fundamental Lease Provisions“Security Deposit”); and
2. Such sum Credit all remaining funds from the Initial Deposit against Tenant’s first month’s Base Rent obligation.
C. The Security Deposit shall be held retained by Landlord as cash security for the faithful performance and observance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision provisions of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to any interest on such depositthe Security Deposit. Landlord shall have the right to commingle the Security Deposit with its other funds. Landlord may use the whole or any part of the Security Deposit for the payment of any amount as to which Tenant is in default or to compensate Landlord for any loss or damage it may suffer by reason of Tenant’s default under this Lease. If Landlord uses all or any portion of the Security Deposit as herein provided, within ten (10) days after demand, Tenant shall pay Landlord cash in an amount equal to that portion of the Security Deposit used by Landlord. If Tenant shall complies fully and faithfully perform every provision with all of the provisions of this Lease to be performed by itLease, the security deposit or any balance thereof Security Deposit shall be returned to Tenant within thirty (or, at Landlord's option, 30) days of the expiration or other termination of the Term and Tenant’s surrender of the Premises to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Lease Agreement
Security Deposit. Upon Tenant shall pay to Landlord a "Security Deposit" in the amount of ($ ) upon the execution of this LeaseLease Agreement. The Security Deposit shall be held by Landlord, without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under this Lease Agreement, it being expressly understood that the Security Deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. Unless otherwise provided by mandatory non-waivable law or regulation, Landlord may commingle the Security Deposit with Xxxxxxxx' s other funds. Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrearages of rent or to satisfy any other covenant or obligation of Tenant hereunder. Following any such application of the Security Deposit, Tenant shall pay to Landlord a security deposit in on demand the amount set forth so applied in Paragraph 7(c) of order to restore the Fundamental Lease ProvisionsSecurity Deposit to its original amount. Such sum shall be held by Landlord as security for If Tenant is not in default at the faithful performance by Tenant of all the terms, covenants, and conditions Termination of this Lease Agreement, the balance of the Security Deposit remaining after any such application shall be returned by Landlord to be kept and performed by Tenant Tenant. If Landlord transfers its interest in the Premises during the term hereof. If Tenant defaults with respect to any provision Term of this Lease, including, without limitation, the provisions relating to the payment of rentLease Agreement, Landlord may (but assign the Security Deposit to the transferee and thereafter shall not be required to) use, apply or retain all or any part have no further liability for the return of the security such Security Deposit. Under no circumstances may Tenant use this deposit to the payment of any pay rent, including rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision last month of this Lease to Agreement. The rent must be performed by itpaid on or before the tenth day of each month, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to including the last assignee month of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestoccupancy.
Appears in 1 contract
Samples: Lease Agreement
Security Deposit. Upon execution Landlord shall hold the balance of proceeds remaining after a draw on the Letter of Credit (the “Security Deposit”) as security for Tenant’s performance of all its Lease obligations. After an Event of Default, or upon the end of the Term if there remains any uncured default of which Tenant shall have received notice, Landlord may apply the Security Deposit, or any part thereof, to Landlord’s damages without prejudice to any other Landlord remedy. Should Landlord apply all or any portion of the Security Deposit in accordance with the terms of this Lease, Tenant shall pay to Landlord a security deposit shall, upon the written demand of Landlord, deliver cash in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenantsapplied, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's ’s failure to do so within twenty (20) days after receipt of such written demand shall be a material breach constitute an additional Event of this Lease. Landlord shall not be required Default hereunder without further notice or opportunity to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security depositcure. Tenant shall not be entitled have the right to deliver a replacement Letter of Credit in the form and amount required hereunder, and upon receipt of such replacement Letter of Credit, Landlord shall return the Security Deposit to Tenant. Xxxxxxxx has no obligation to pay interest on such depositthe Security Deposit and may co-mingle the Security Deposit with Landlord’s funds. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's Landlord conveys its interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in under this Lease, Landlord the Security Deposit, or any part not applied previously, may be turned over to the grantee in which case Tenant shall transfer any remaining balance look solely to the grantee for the proper application and return of such deposit to Landlord's successor in interestthe Security Deposit.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord upon execution of this Lease a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Basic Lease Provisions. Such sum shall be held by Landlord Information as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Lease. Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, agrees that Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit in whole or in part to remedy any damage to the payment of any rent in defaultPremises caused by Tenant, Tenant’s Agents or Tenant’s Invitees, or for the payment any failure of any amount which Landlord may spend or become obligated Tenant to spend by reason of Tenant's default, or to compensate Landlord for perform any other loss terms, covenants or damage which conditions contained in this Lease, without waiving any of Landlord's other rights and remedies hereunder or at Law or in equity. Should Landlord may suffer by reason of Tenant's default. If use any portion of the security deposit is so used or appliedto cure any Event of Default by Tenant hereunder, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore shall immediately replenish the security deposit to its the original amount amount, and Tenant's failure to do so within five (5) days of Landlord's notice shall be constitute a material breach Event of Default under this Lease. Landlord's obligations with respect to the security deposit are solely that of debtor and not trustee. Landlord shall not be required to keep this the security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to any interest on such deposit. If Tenant shall fully and faithfully perform every provision The amount of this Lease to be performed by it, the security deposit or any balance thereof shall not be returned deemed to Tenant (or, at Landlord's option, to the last assignee of limit Tenant's interest hereunder) at liability for the expiration performance of the Lease term. In the event any of termination of Landlord's interest in its obligations under this Lease. To the extent that Landlord is not entitled to retain or apply the security deposit pursuant to this Section 18.3, Landlord shall transfer any remaining balance of return such security deposit to Landlord's successor in interestTenant within forty-five (45) days of the termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement
Security Deposit. Upon execution Tenant has deposited with Landlord the sum of this Lease$12,895.00, Tenant shall pay hereinafter referred to Landlord a security deposit in as "the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for Security Deposit," to secure the faithful performance by Tenant of all the termseach term, covenantscovenant, and conditions condition of this Lease to be kept and performed by Tenant during the term hereoflease. If Tenant defaults with respect shall at any time fail to make any provision of payment or fail to keep or perform any term, covenant, and condition on its part to be made or performed or kept under this Lease, including, without limitation, the provisions relating to the payment of rentlease, Landlord may (may, but shall not be required to) obligated to and without waiving or releasing Tenant from any obligation under this lease, use, apply or retain all the whole or any part of the security deposit Security Deposit (i) to the payment extent of any rent in default, sum due to Landlord; or for the (ii) to make any required payment of any amount which Landlord may spend or become obligated to spend by reason of on Tenant's default, behalf; or (iii) to compensate Landlord for any other loss loss, damage, attorneys' fees, or damage which expense sustained by Landlord may suffer by reason of due to Tenant's default. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five (5) 5 days after of written demand thereforby Landlord, deposit cash with remit to Landlord in an amount sufficient funds to restore the security deposit Security Deposit to its original amount and sum; Tenant's failure to do so shall be a material breach of this Leaselease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Should Tenant shall fully comply with all of the terms, covenants, and faithfully perform every provision conditions of this Lease lease, then the Security Deposit, less any sums owing to be performed by itLandlord, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest interests hereunder) at the expiration after a period of 12 months from occupancy of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestPremises.
Appears in 1 contract
Samples: Lease Amendment (Thrustmaster Inc)
Security Deposit. Upon Tenant shall deposit the Security Deposit with Landlord upon or before the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofand not as an advance rental deposit or as a measure of Landlord’s damage in case of Tenant’s default. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or use any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's ’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit is so used or appliedused, Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's ’s failure to do so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not no be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee such time after termination of this Lease when Landlord shall have determined that all of Tenant's interest hereunder) at the expiration of the ’s obligations under this Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interesthave been fulfilled.
Appears in 1 contract
Samples: Assumption and Attornment Agreement (Archipelago Holdings L L C)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c(a) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as As security for the faithful performance by Tenant throughout the Lease Term, and any extensions or renewals thereof, of all the terms and conditions of this Lease on the part of Tenant to be performed, Tenant has deposited with Landlord the sum set forth in Article 1(n) above. Such amount shall be returned to Tenant, without interest, on January 1, 2003, provided Tenant has fully and faithfully observed and performed all of the terms, covenants, agreements, warranties and conditions of this Lease hereof on its part to be kept observed and performed by Tenant during performed. Landlord shall have the term hereof. If Tenant defaults with respect right to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of said deposit toward the cure of any default of Tenant. If all or any part of said security deposit is so applied by Landlord, then Tenant shall immediately pay to Landlord an amount sufficient to return said security deposit to the payment balance on deposit with Landlord prior to said application.
(b) In a sale or transfer of any rent Landlord's interest in default, the Demised Premises or for the payment of any amount which Building or a lease by Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or appliedBuilding, Tenant shall, Landlord shall have the right to transfer the within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the described security deposit to its original amount the purchaser or lessee, as the case may be, and Tenant's failure to do so Landlord shall be a material breach relieved of this Leaseall liability to Tenant for the return of such security deposit. The Tenant shall look solely to the new owner or lessor for the return of said security deposit. The security deposit shall not be mortgaged, assigned or encumbered by Tenant.
(c) Landlord shall not be required to keep this the security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestaccounts.
Appears in 1 contract
Security Deposit. Upon Simultaneously with its execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount Security Deposit set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum 1t above, which shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to Security Deposit for the payment of any rent in default, Rent or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's defaultan Event of Default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultan Event of Default. If any portion of the security deposit said Security Deposit is so used or applied, Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's ’s failure to do so shall be a material breach an Event of Default under this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe Security Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by itThe Security Deposit, the security deposit or any balance thereof after application as permitted hereunder, shall be returned to Tenant (or, or at Landlord's ’s option, to the last assignee of Tenant's ’s interest hereunder) at within sixty (60) days after the expiration of the Primary Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer Term or any remaining balance of such deposit to Landlord's successor in interestextension period thereof.
Appears in 1 contract
Security Deposit. Upon Concurrently with Tenant’s execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit (the “Security Deposit”) in the amount set forth in Paragraph 7(c) Section 9 of the Fundamental Lease Provisions. Such sum shall Summary to be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions every provision of this Lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision of this Lease, including, without limitationbut not limited to, the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to Security Deposit for the payment of Rent or any rent other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend suffer by reason of Tenant's default, ’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default’s failure to cure event of default within any cure period provided under the lease. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount amount, and Tenant's ’s failure to do so shall be deemed a material breach of this Lease. Except as required by applicable law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, funds and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe Security Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of or Tenant's interest hereunder’s assignee) at the expiration of the Lease term. In Term and after Tenant has vacated the Leased Premises; provided, however, in no event shall Landlord be under any obligation to return the Security Deposit earlier than sixty (60) days after the expiration of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestthe Lease Term.
Appears in 1 contract
Samples: Office Lease (Nuvectra Corp)
Security Deposit. Upon execution release of this Leasethe Letter of Credit pursuant to section 5.1 above, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord $13,680.00 as security for the Tenant’s faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofits obligations hereunder. If Tenant fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply apply, or retain all or any part portion of the security said deposit to for the payment of any rent or other charge in default, default or for the payment of any amount other sum to which Landlord may spend or become obligated to spend by reason of Tenant's ’s default, or to compensate Landlord for any other loss or damage which that Landlord may suffer by reason of Tenant's defaultthereby. If Landlord so uses or applies all or any portion of the security deposit is so used or appliedsaid deposit, Tenant shall, shall within five ten (510) days after written demand therefor, therefor deposit cash with Landlord in an amount sufficient to restore the security said deposit to its original the full amount and then required of Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this said security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositaccounts. If Tenant shall fully and faithfully perform every provision performs all of this Lease to be performed its obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by itLandlord, the security deposit or any balance thereof shall be returned returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord's ’s option, to the last assignee assignee, if any, of Tenant's ’s interest hereunder) at the expiration of the Lease termterm hereof, and after Tenant has vacated the Premises. In the event of termination of Landlord's interest in this Lease, No trust relationship is created herein between Landlord shall transfer any remaining balance of such deposit and Tenant with respect to Landlord's successor in interestsaid security deposit.
Appears in 1 contract
Security Deposit. Upon Simultaneously with the execution of this Lease, Tenant shall pay to deposit with Landlord a the security deposit sum described in the amount set forth in Paragraph 7(cSubsection 1(u) of the Fundamental Lease Provisionshereof. Such sum security deposit (which shall not bear interest to Tenant) shall be held by Landlord considered as security for the faithful payment and performance by Tenant of all the termsof Tenant's obligations, covenants, conditions and conditions agreements under this Lease. Upon the expiration of this Lease the Term hereof, Landlord shall (provided that Tenant is not in default under the terms hereof) return and pay back such security deposit to be kept and performed Tenant less such portion thereof as Landlord shall deem necessary to make good any default by Tenant during the term hereof. If Tenant defaults with respect to any provision of this LeaseTenant's aforesaid obligations, includingcovenants, without limitation, conditions or agreements. In the provisions relating to the payment event of rentany default by Tenant hereunder, Landlord may (shall have the right, but shall not be required to) useobligated, to apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or appliedto cure such default, in which even Tenant shall, within five (5) days after written demand therefor, shall be obligated to promptly deposit cash with Landlord in an the amount sufficient necessary to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termamount. In the event of termination the sale or transfer of Landlord's interest in this Leasethe Development, Landlord shall have the right to transfer any remaining balance the security deposit to such purchaser or transferee, in which event Tenant shall be entitled to look to the new landlord for the return of the security deposit and Landlord shall thereupon be released from all liability to Tenant for the return of such deposit to Landlord's successor in interestsecurity deposit.
Appears in 1 contract
Samples: Office Lease (Tek Digitel Corp)
Security Deposit. Upon Simultaneously with its execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount Security Deposit set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum 1t above, which shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to Security Deposit for the payment of any rent in default, Rent or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit said Security Deposit is so used or applied, Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach an Event of Default under this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe Security Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, or at Landlord's option, to the last assignee of Tenant's interest hereunder) at within sixty (60) days after the expiration of the Primary Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer Term or any remaining balance of such deposit to Landlord's successor in interestextension period thereof.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(c) sum of the Fundamental Lease ProvisionsFOUR THOUSAND NINE HUNDRED DOLLARS AND 00/100 Dollars ($4,900.00). Such Said sum shall be held by Landlord landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the this security deposit to for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, shall within five (5) days after receipt of written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, or at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such said deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Office Building Lease (Colorado Business Bankshares Inc)
Security Deposit. Upon execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord upon execution hereof $40,000.00 as security for the Tenant's faithful performance by Tenant of all Tenant's obligations hereunder (the terms, covenants, and conditions "Security Deposit"). After the occurrence of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision an Event of this Lease, including, without limitation, the provisions relating to the payment of rentDefault, Landlord may (but shall not be required to) use, apply or retain all or any part portion of the security deposit to Security Deposit for the payment of any rent in default, or additional rent or for the payment of any amount other sum to which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultthereby. If Landlord so uses or applies all or any portion of the security deposit is so used or appliedSecurity Deposit, Tenant shall, shall within five ten (510) days after written demand therefor, therefor deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original the full amount thereof and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositaccounts. If Tenant shall fully and faithfully perform every provision performs all of this Lease to be performed by itTenant's obligations hereunder, the security deposit Security Deposit, or any balance so much thereof as has not theretofore been applied by Landlord, shall be returned returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord's option, to the last assignee assignee, if any, of Tenant's interest hereunder) at within thirty (30) days after the later of (a) the expiration of the Lease termterm hereof, or (b) the date Tenant has vacated the Premises. In the event of termination of Landlord's interest in this Lease, No trust relationship is created herein between Landlord shall transfer any remaining balance of such deposit and Tenant with respect to Landlord's successor in interestsaid Security Deposit.
Appears in 1 contract
Samples: Lease (Brooks Automation Inc)
Security Deposit. Upon Tenant agrees to deposit with Landlord upon execution of this Lease, Tenant shall pay to Landlord a security deposit in Lease the amount set forth in Paragraph 7(c) sum of the Fundamental Lease Provisions. Such sum shall be held by Landlord $ not as prepayment of rent but as security for the faithful performance and observance by Tenant of all the obligations and duties required of Tenant by this Lease. In the event Tenant defaults in respect of any of such obligations and duties including, but not limited to, the payment for construction items, if any, the payment of fixed monthly rent or part of the security so deposited to the extent required for the payment of any fixed monthly rent, for any sum which Landlord may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms, covenants, covenants and conditions of this Lease Lease. Upon notice by Landlord, Tenant shall pay to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this LeaseLandlord, including, without limitation, the provisions relating to the payment of rent, Landlord may within ten (but shall not be required to10) use, apply or retain all or days after demand therefore; any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with applied by Landlord in an amount sufficient to restore so the security deposit may be restored to its original amount and Tenant's failure to do so shall be a material breach of this Leaseamount. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of In the security deposit. Tenant shall not be entitled to interest on such deposit. If event that Tenant shall fully and faithfully perform every provision comply with all the terms, provisions, covenants and conditions of this Lease to be performed by itLease, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to after the last assignee date of Tenant's interest hereunder) at the expiration termination of the term of this Lease termand after delivery of entire possession of the premises to Landlord. In the event of termination a sale or lease of Landlord's interest in this Leasethe Plaza, Landlord shall have the right to transfer any remaining balance and assign the security to the vendee, assignee or lessee and Landlord shall thereupon be automatically released by Tenant from all liability for the return of such deposit security; and Tenant shall look solely to Landlord's successor in interestthe new landlord for the application or return of said security. Tenant will not assign or encumber the security, and neither Landlord nor his successors or assigns shall be bound by any such assignment or encumbrance.
Appears in 1 contract
Samples: Lease Agreement
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(cTenant's Security Deposit (if any) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Landlord, without liability for interest except to the extent required by law, as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of obligations under this Lease. Unless required by applicable law, Landlord shall not be required to keep this security deposit separate the Security Deposit segregated from its general funds, and shall not be deemed a trustee other funds of the security depositLandlord. Tenant shall not be entitled assign or in a any way encumber the Security Deposit. Upon the occurrence of any Event of Default by Tenant, Landlord shall have the right, without prejudice to interest any other remedy, to use the Security Deposit, or portions thereof, to the extent necessary to pay any arrearages in Rent, and any other damage, injury or expense. Following any such application of all or any portion of the Security Deposit, Tenant shall pay to Landlord, on such depositdemand, the amount so applied in order to restore the Security Deposit to its original amount. If Tenant shall fully and faithfully perform every provision is not in default at the termination of this Lease to be performed by itLease, any remaining balance of the security deposit or any balance thereof Security Deposit shall be returned to Tenant, provided that Tenant (or, at Landlord's option, surrenders the Premises without damage pursuant to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termArticle 19 hereof. In the event of termination of Landlord's If Landlord transfers its interest in this Leasethe Premises during the Term, Landlord shall transfer any remaining balance of such deposit assign the Security Deposit to Landlord's successor in interestthe transferee, and thereafter Landlord shall have no further liability to Tenant for the Security Deposit.
Appears in 1 contract
Security Deposit. Upon execution Tenant has deposited with Landlord a Security Deposit as set forth on Exhibit "B" of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all ail the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating including but not limited to the payment of rent, Landlord may (but shall not be required to) use, apply apply, or retain all or any part of the this security deposit to for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, shall within five (5) days after written demand therefor, therefor deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Leaselease. Landlord shall not be required to keep this security deposit separate from its general funds, funds and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum Section 21.1 Tenant’s Security Deposit shall be held by Landlord Landlord, without liability for interest except to the extent required by law, as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of ’s obligations under this Lease. Unless required by applicable law, Landlord shall not be required to keep this security deposit separate the Security Deposit segregated from its general funds, and shall not be deemed a trustee other funds of the security depositLandlord. Tenant shall not be entitled assign or in any way encumber the Security Deposit. Upon the occurrence of any Event of Default by Tenant, Landlord shall have the right without prejudice to interest any other remedy, to use the Security Deposit, or portions thereof, to the extent necessary to pay any arrearages in Rent, and any other damage, injury or expense. Following any such application of all or any portion of the Security Deposit, Tenant shall pay to Landlord, on such depositdemand, the amount so applied in order to restore the Security Deposit to its original amount. If Tenant shall fully and faithfully perform every provision is not in default at the termination of this Lease to be performed by itLease, any remaining balance of the security deposit or any balance thereof Security Deposit shall be returned to Tenant, provided that Tenant (orsurrenders the Premises without damage pursuant to Article 19 hereof. If Landlord transfers its interest in the Premises during the Term, at Landlord's option, Landlord shall assign the Security Deposit to the last assignee of Tenant's interest hereunder) at transferee, and thereafter Landlord shall have no further liability to Tenant for the expiration of the Lease termSecurity Deposit. In the event of termination of Landlord's interest in a permitted assignment under this LeaseLease by Tenant, the Security Deposit shall be held by Landlord as a deposit made by the permitted assignee and Landlord shall transfer any remaining balance have no further liability with respect to the return of such deposit the Security Deposit to Landlord's successor in interest.the original Tenant
Appears in 1 contract
Security Deposit. Upon execution (a) Landlord acknowledges the receipt from Tenant of the sum of $5,00O.OO, which Landlord may retain as security for the payment, and performance of all of the obligations and covenants of Tenant contained in this Lease and for the personal property referred to in Section 12 hereof (the "Security Deposit"). Landlord shall have no obligation to apply the Security Deposit against any amount due or owing from Tenant under this Lease, nor shall the rights and remedies of Landlord under this Lease shall be affected in any manner by the fact that Landlord holds the Deposit. Should Landlord apply any portion of the Security Deposit in respect of any obligation of the Tenant under this Lease, Tenant shall shall, within ten (10) after receipt of written notice from Landlord to do so, pay to Landlord a security deposit in the amount set forth in Paragraph 7(csuch notice necessary to restore the Security Deposit to its original amount. Landlord may commingle the Security Deposit with its other funds and shall have no obligation to pay Interest on the Security Deposit to Tenant.
(b) Upon the occurrence of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant an Event of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rentDefault, Landlord may (but shall not be required to) use, apply the Security Deposit against any damages or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which costs suffered by Landlord may spend or become obligated to spend by reason of Tenant's default, such Event of Default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion the exercise of the security deposit remedies provided herein for Landlord upon the occurrence of and Event of Default. Provided Tenant is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of then In default under this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at upon the expiration of the Lease term. In the event of termination of Landlord's interest in this LeaseTerm, Landlord shall transfer promptly return any remaining balance unapplied portion of such deposit the Security Deposit to Landlord's successor in interestTenant.
Appears in 1 contract
Samples: Lease (Esperion Therapeutics Inc/Mi)
Security Deposit. Upon Contemporaneously with the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum Security Deposit, which shall be held by Landlord to secure Tenant’s performance of its obligations under this Lease. The Security Deposit is not an advance payment of Rent or a measure or limit of Landlord’s damages upon an Event of Default (as security for the faithful performance by Tenant defined herein). Landlord may, from time to time following an Event of all the terms, covenants, Default and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect without prejudice to any provision other remedy, use all or a part of the Security Deposit to perform any obligation Tenant fails to perform hereunder. Following any such application of the Security Deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Provided that Tenant has performed all of its obligations hereunder, Landlord shall, within 30 days after the expiration of the Term and Tenant’s surrender of the Premises in compliance with the provisions of this Lease, including, without limitation, return to Tenant the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash Security Deposit which was not applied to satisfy Tenant’s obligations. The Security Deposit may be commingled with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general other funds, and no interest shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositpaid thereon. If Tenant Landlord transfers its interest in the Premises, then Landlord shall fully and faithfully perform every provision of this Lease to be performed by it, assign the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, Security Deposit to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination transferee and, upon assumption by such transferee of Landlord's interest in this ’s obligations under the Lease, Landlord thereafter shall transfer any remaining balance have no further liability for the return of such deposit to Landlord's successor in interestthe Security Deposit.
Appears in 1 contract
Samples: Lease Agreement (Omtool LTD)
Security Deposit. Upon execution Tenant agrees to deposit with Xxxxxxxx on the date of this Lease the sum of [dollar amount], which shall be held by Landlord, without interest, as security for the performance of Tenant’s covenants and obligations under this Lease, it being expressly understood and agreed that the deposit is not an advance rental deposit or a measure of the Landlord’s damages in case of Xxxxxx’s default. Upon the occurrence of any Event of Default by Xxxxxx, Landlord may, from time to time and without prejudice to any other remedy provided by this Lease or by law, use that fund to the extent necessary to make good any arrears of rent or other payments or liability caused by the Event of Default. Tenant shall pay to Landlord a security deposit in on demand the amount set forth that was applied in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient order to restore the security deposit to its original the amount and Tenant's failure to do so then required under this Lease. Although the security deposit shall be a material breach deemed the property of Landlord, any remaining balance of the deposit shall promptly be returned by Landlord to Tenant at the time after termination of this Lease that all of Tenant’s obligations under this Lease have been fulfilled. If the Base Rent increases during the term of this Lease, Tenant shall, at the time of each increase, deliver to Landlord an additional security deposit proportionate to the increase in the Base Rent. Landlord shall not be required to keep this the security deposit separate from its the general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination accounts of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Industrial Lease
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as As security for the full and faithful performance by Tenant of all the terms, covenants, covenant and conditions condition of this Lease to be kept and performed by Tenant, Tenant during has paid to Landlord the term hereofSecurity Deposits specified in Section 1.5, receipt of which is hereby acknowledged. If Tenant defaults shall default with respect to any provision covenant or condition of this Lease, including, without limitation, the provisions relating including but not limited to the payment of rentRent, then Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit Security Deposit to the payment of any rent sum in default, default or for the payment of any amount sum which Landlord may in its reasonable discretion deem necessary to spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer incur by reason of Tenant's default. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five (5) days after of written demand therefor, therefor by Landlord shall deposit cash with Landlord in an the amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositapplied. If Tenant shall have fully complied with all covenants and faithfully perform every provision conditions of this Lease to be performed by itLease, but not otherwise, the security deposit or any balance thereof amount of the Security Deposit then held by Landlord shall be returned repaid to Tenant (or, or at Landlord's option, to the last assignee of Tenant's interest hereunder) at within thirty (30) days after the expiration or sooner termination of the Lease termthis Lease. In the event of termination of Tenant's default, Landlord's interest rights to retain the Security Deposit shall be deemed to be in addition to any and all other rights and remedies at law or in equity available to Landlord for Tenant's default under this Lease, . Landlord shall transfer not be required to keep any remaining balance of such deposit Security Deposit separate from its general funds and Tenant shall not be entitled to Landlord's successor in interestany interest thereon.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to has deposited with Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Security Deposit as security for the full and faithful performance by Tenant of all the terms, covenants, and conditions every provision of this Lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the including payment of rentthe Rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or she Security Deposit for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's defaultRent, or to compensate Landlord for any other loss loss, cost or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefornotice thereof, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount amount, and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled nor pay interest to interest on such depositTenant. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee transferee of Tenant's interest hereunder) at the expiration of the Lease termTerm and upon Tenant's vacation of the Premises. In If the event of termination of Landlord's interest in this LeaseBuilding is sold, the Security Deposit may be transferred to the new owner, and Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestbe discharged from further 1iability with respect thereto.
Appears in 1 contract
Samples: Office Lease (Jreck Subs Group Inc)
Security Deposit. Upon Tenant has deposited with Landlord, upon the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) sum of the Fundamental Lease ProvisionsFIFTY THOUSAND AND No/100 Dollars ($50,000.00). Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the this security deposit to for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, or at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such said deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Lease (Colorado Medtech Inc)
Security Deposit. Upon Concurrently with the execution and delivery of this Lease, Tenant shall pay to has deposited with Landlord a security deposit in the amount set forth in Paragraph 7(cFive Thousand three hundred Dollars ($5,300.00) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the full and faithful performance by Tenant of all the terms, covenants, and conditions every provision of this Lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision of this Lease, including, without limitationbut not limited to, the provisions relating to the payment of rentrent set forth in this Lease, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to Security Deposit for the payment of such rent, fees or any rent other sum in default, or for the payment of any other amount which Landlord may reasonably spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may reasonably suffer by reason of Tenant's defaultbreach of the terms of this Lease, or to pay Landlord for any amount due under any indemnification provision contained in this Lease. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, shall within five (5) days after written demand thereforof receipt of notice thereof from Landlord, deposit cash with Landlord in an amount sufficient to restore the security deposit Securit/ Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to has deposited with Landlord a security deposit the Security Deposit designated in the amount set forth in Paragraph 7(c) of the Fundamental Lease ProvisionsSubparagraph 1.n. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term Term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, including but not limited by the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to this Security Deposit for the payment of any rent Rent or any other sum in default, or for the payment of any other such amount which Landlord may spend or become obligated to spend by reason of Tenant's default, default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and amount. Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositSecurity Deposit. If Should Landlord sell its interests in the Premises during the Term hereof and if Landlord deposits with the purchaser thereof the then unappropriated funds deposited by Tenant shall fully and faithfully perform every provision of this Lease to be performed by itas aforesaid, the security deposit or any balance thereof thereupon Landlord shall be returned to Tenant (or, at Landlord's option, discharged from any further liability with respect to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit.
Appears in 1 contract
Samples: Office Lease (Loudeye Corp)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a The security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum Article 1.7 shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, Tenant's covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of obligations under this Lease, including, without limitation, it being expressly understood that the provisions relating to the payment of rent, Landlord may (but security deposit shall not be required to) useconsidered an advance payment to Tenant of rental or a measure of Landlord's damage in case of default hereunder by Tenant, apply or retain all or and shall be held by Landlord. Upon the occurrence of any part event of default by Tenant under this Lease, Landlord may, from time to time, without prejudice to any other remedy, use any portion of the security deposit to the payment extent necessary to make good any arrears of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's defaultrent, or to compensate repair any damage or injury, or pay any expense or liability incurred by Landlord for as a result of the event of default or breach of covenant, and any other loss or damage which remaining balance of the security deposit shall be returned by Landlord may suffer by reason to Tenant upon the termination of Tenant's defaultthis Lease. If any portion of the security deposit is so used or applied, Tenant shall, within five shall upon ten (510) days after written demand therefornotice from Landlord, deposit cash with Landlord in by cashier's check an amount sufficient to restore the security deposit to its original amount amount. The Security Deposit may be assigned and Tenant's failure transferred by Landlord to do so shall be a material breach the successor in interest of this Lease. Landlord shall not be required to keep this and, upon acknowledgment by such successor of receipt of such security deposit separate from and its general funds, and shall not be deemed a trustee assumption of the security deposit. Tenant shall not be entitled obligation to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned account to Tenant (or, at Landlord's option, to for such security in accordance with the last assignee terms of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer thereby be discharged of any remaining balance of such deposit to Landlord's successor in interestfurther obligation relating thereto.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as As security for the full and faithful performance by Tenant of all the terms, covenants, every covenant and conditions condition of this Lease to be kept and performed by Tenant. Tenant during has paid to Landlord the term Security Deposit as specified in Section 1(m) hereof. If Tenant defaults with in any respect to any provision of under this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit Security Deposit to the payment of any rent sum in default, default or for the payment of any amount other sum which Landlord may be required or may in its reasonable discretion deems necessary to spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer incur by reason of Tenant's default. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five (5) days after of written demand therefortherefor by Landlord, deposit cash with Landlord in an the amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositapplied. If Tenant shall have fully complied with all of the covenants and faithfully perform every provision conditions of this Lease to be performed by itLease, the security deposit or any balance thereof amount of the Security Deposit to the extent not applied by Landlord under this Section 7 shall be returned repaid to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at within thirty (30) days after the expiration or sooner termination of the Lease termthis Lease. In the event of termination of LandlordTenant's interest in default under this Lease, Landlord's right to retain the Security Deposit shall be deemed to be in addition to any and all other rights and remedies at law or in equity available to Landlord. Landlord shall transfer not be required to keep any remaining balance of such deposit Security Deposit separate from its general funds and Tenant shall not be entitled to Landlord's successor in interestany interest thereon.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount The Security Deposit set forth in Paragraph 7(c) 1, if any, shall secure the performance of the Fundamental Lease ProvisionsTenant's obligations hereunder. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the termsmay, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required obligated to) use, apply or retain all or any part portions of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason Security Deposit on account of Tenant's default, obligations hereunder. In the event that Landlord applies all or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any a portion of the security deposit is so used or appliedSecurity Deposit to Tenant's obligations hereunder, Tenant shallshall be obligated, within five ten (510) days after written demand thereforreceipt of notice from Landlord, to deposit cash with Landlord in an amount sufficient to restore the security Security Deposit to the full amount stated in Paragraph 1 above. Failure to deposit to its original amount and Tenant's failure to do so such cash shall be a material breach default under the Terms of this Lease. Provided Tenant is not in default, any balance remaining upon termination shall be returned to Tenant. Tenant shall not have the right to apply the Security Deposit in payment of the last month's Rent. No interest shall be paid by Landlord on the Security Deposit. In the event of a sale of the Project, Landlord shall have the right to transfer the Security Deposit to the purchaser, upon such transfer Landlord shall have no further liability with respect thereto, and Tenant agrees to look solely to such purchaser for the return of the Security Deposit. Landlord shall not be required to keep this security deposit separate from its general fundsthe Security Deposit in a segregated account, and shall not the Security Deposit may be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination commingled with other funds of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Office Lease Agreement
Security Deposit. Upon Simultaneously with its execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount Security Deposit set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum It above, which shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this LeaseLease after the expiration of all applicable notice and cure periods, including, without limitation, but not limited to the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to Security Deposit for the payment of any rent in default, Rent or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's ’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit said Security Deposit is so used or applied, Tenant shall, shall within five ten (510) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's ’s failure to do so shall be a material breach an Event of Default under this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe Security Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, or at Landlord's ’s option, to the last assignee of Tenant's ’s interest hereunder) at within sixty (60) days after the expiration of the Primary Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer Term or any remaining balance of such deposit to Landlord's successor in interestextension period thereof.
Appears in 1 contract
Samples: Lease (Signal Genetics, Inc.)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as As security for the full and faithful performance by Tenant of all the terms, covenants, every covenant and conditions condition of this Lease to be kept and performed by Tenant, Tenant during shall, not later than the term Commencement Date, pay to Landlord the Security Deposit as specified in Section 1(i) hereof. If Tenant defaults shall default with respect to any provision covenant or condition of this Lease, including, without limitation, the provisions relating including but not limited to the payment of rentRent, Additional Rent or any other payment due under this Lease, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit Security Deposit to the payment of any rent sum in default, default or for the payment of any amount other sum which may be required or which Landlord may may, in its reasonable discretion, deem necessary to spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer incur by reason of Tenant's default. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five (5) days after of written demand therefortherefor by Landlord, deposit cash with Landlord in an the amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositapplied. If Tenant shall have fully complied with all of the covenants and faithfully perform every provision conditions of this Lease to be performed by itLease, but not otherwise, the security deposit or any balance thereof amount of the Security Deposit then held by Landlord shall be returned to Tenant (or, at Landlord's option, to retained by Landlord and applied against the Rent for the last assignee of Tenant's interest hereunder) at the expiration month of the Lease term. In the event of termination of LandlordTenant's interest in default under this Lease, Landlord's right to retain the Security Deposit shall be deemed to be in addition to any and all other rights and remedies at law or in equity available to Landlord. Landlord shall transfer not be required to keep any remaining balance of such deposit Security Deposit separate from its general funds and Tenant shall not be entitled to Landlord's successor in interestany interest thereon.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount The Security Deposit set forth in Paragraph 7(c) 1.7, if any, shall secure the performance of the Fundamental Lease ProvisionsTenant's obligations hereunder. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the termsmay, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, obligated to apply or retain all or any part portions of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason Security Deposit on account of Tenant's default, obligations thereunder. In the event that Landlord applies all or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any a portion of the security deposit is so used or appliedSecurity Deposit to tenant's obligations hereunder, Tenant shallshall be obligated, within five (5) 10 business days after written demand thereforof receipt of notice from Landlord, to deposit cash with Landlord in an amount sufficient to restore the security Security Deposit to the full amount stated in Paragraph 1.7 above. Failure to deposit to its original amount and Tenant's failure to do so such cash shall be a material breach default under the terms of this Lease, Provided Tenant is not in default, any balance remaining upon termination shall be returned to Tenant. Tenant shall not have the right to apply the Security Deposit in payment of the last month's rent. No interest shall be paid by Landlord on the Security Deposit. In the event of a sale of the Project, Landlord shall have the right to transfer the Security Deposit to the purchaser, upon such transfer Landlord shall have no further liability with respect thereto, and Tenant agrees to look solely to such purchaser for the return of the Security Deposit. Landlord shall not be required to keep this security deposit separate from its general fundsthe Security Deposit in a segregated account, and shall not the Security Deposit may be deemed a trustee commingled with other funds of Landlord. Notwithstanding the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by itforegoing, the security deposit or any balance thereof Security Deposit shall be returned to the Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration end of the Lease term. In the 38th month so long as Tenant is not in default and no event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestdefault has existed.
Appears in 1 contract
Samples: Office Lease (Boots & Coots International Well Control Inc)
Security Deposit. Upon Tenant concurrently with its execution of this Lease, Tenant shall pay Lease has deposited with Landlord the Security Deposit to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for to guarantee the faithful performance by Tenant of all of its obligations under this Lease. Any interest earned thereon shall be the terms, covenantsproperty of Landlord. Landlord may deposit such Security Deposit in its general funds, and conditions shall not be required to keep the Security Deposit in a separate account. Unless and until Tenant is in default with respect to any provision hereof, the Security Deposit shall be the property of this Lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all expend the whole or any part of the security deposit to the payment of any rent in default, or Security Deposit for the payment of any amount which Landlord may spend or become obligated to spend expend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's such default. If any portion or all of the security deposit Security Deposit is so used or appliedused, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an a amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. If Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of default under this Lease to be performed by itLease, the security deposit or any balance thereof Security Deposit shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration end of the Lease termTerm; provided that Landlord may retain the Security Deposit until such time as all amounts due from Tenant hereunder have been paid in full. In the event of termination a transfer of Landlord's interest in this Leasethe Building, Landlord shall transfer any remaining balance of such deposit may pay over the Security Deposit to Landlord's successor in interesttransferee to be held under the terms of this Lease and Landlord shall be released from all liability for the return of the Security Deposit. Under no circumstances shall the Security Deposit be interpreted as being part of the Rent.
Appears in 1 contract
Samples: Office Building Lease (Hanover Capital Holdings Inc)
Security Deposit. Upon Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofand not as an advance rental deposit or as a measure of Landlord’s damage in case of an Event of Default. If Tenant defaults an Event of Default occurs with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or use any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's defaultsuch Event of Default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultsuch Event of Default. If any portion of the security deposit is so used or appliedused, Tenant shall, shall within five (5) business days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's ’s failure to do so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant within thirty (or, at Landlord's option, to 30) days after the last assignee of Tenant's interest hereunder) at the termination or expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Lease (Appgate, Inc.)
Security Deposit. Upon execution of this Lease, This provision shall only apply in the event that ---------------- Tenant shall pay to Landlord substitutes a security cash deposit in accordance with Paragraph 4 of the amount Addendum. The Security Deposit set forth in Paragraph 7(cSection 1.9 (if any) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance of Tenant's covenants and obligations under this Lease, it being expressly understood that the Security Deposit shall not be considered an advance payment of Rent or a measure of Landlord's damage in case of default hereunder by Tenant, and shall be held by Landlord without payment of any interest thereon. Upon the occurrence of any event of default by Tenant under this Lease, Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrears of all Rent, or to repair any damage or injury, or pay any expense or liability incurred by Landlord as a result of the terms, covenantsevent of default or breach of covenant, and conditions any remaining balance of this Lease the Security Deposit shall be returned by Landlord to be kept and performed by Tenant during upon the term hereof. If Tenant defaults with respect to any provision termination of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five shall upon ten (510) days after written demand therefornotice from Landlord, deposit cash with Landlord in by cash or cashier's check an amount sufficient to restore the security deposit Security Deposit to its original amount amount. The Security Deposit may be assigned and Tenant's failure transferred by Landlord to do so shall be a material breach the successor in interest of this Lease. Landlord shall not be required to keep this and, upon acknowledgment by such successor of receipt of such security deposit separate from and its general funds, and shall not be deemed a trustee assumption of the security deposit. Tenant shall not be entitled obligation to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned account to Tenant (or, at Landlord's option, to for such security in accordance with the last assignee terms of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer thereby be discharged of any remaining balance of such deposit to Landlord's successor in interestfurther obligation relating thereto.
Appears in 1 contract
Samples: Lease Agreement (Liposcience Inc)
Security Deposit. Upon execution of this Lease, A. The Tenant shall pay to the Landlord a security deposit in Security Deposit of $ The Security Deposit deposited by Tenant with the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum Landlord shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions terms of this Lease to be kept and performed by Tenant during the term hereof. Lease.
B. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply use or retain all or any part of the security deposit to this Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit Security Deposit is so used or appliedretained, Tenant shall, within with five (5) days after written demand therefortherefore, deposit cash with the Landlord in an amount sufficient to restore increase the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. amount.
C. If Tenant shall fully and faithfully perform every provision of this the Lease to be performed by it, the security deposit Security Deposit, or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at after the expiration of the Lease term. in accordance with the laws of Missouri.
D. In the event of termination of Landlord's ’s interest in of this Lease, Landlord shall transfer any remaining balance of such deposit the Security Deposit to Landlord's ’s successor in interestinterest and Landlord shall thereupon be released by Tenant from all liability for the return of the Security Deposit; and Tenant agrees to look solely to Landlord’s successor in interest for the return thereof.
Appears in 1 contract
Samples: Commercial Lease Agreement
Security Deposit. Upon execution of this Lease, Tenant shall pay to has deposited with Landlord a security deposit in the amount sum set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Schedule as "Security Deposit" as security for the faithful performance and observance by Tenant of all the terms, covenants, and conditions provisions of this Lease to be kept and performed by Tenant at all times during the term hereofTerm of this Lease said sum shall equal no less than one month's Base Rent. If Tenant defaults with shall default in respect to of any provision of this Lease, including, without limitation, the provisions relating to the payment of rentsuch provision, Landlord may (but shall not be required to) use, apply or retain all the whole or any part of the security deposit to the payment of any rent in default, or extent required for the payment of any amount rent and/or other charge or any other sum as to which Tenant is in default or for any sum which Landlord may spend have expended or become obligated may be required to spend expend by reason of Tenant's default, including, but not limited to, any damages or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion deficiency in the reletting of the security deposit is so used or appliedLeased Premises. In the case of any such application by Landlord, Tenant shall, shall deposit with Landlord from time to time within five (5) days after Landlord's written demand therefor, deposit cash with Landlord in an amount therefor sufficient additional funds to restore the such security deposit to its original the amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositset forth above. If Tenant shall fully and faithfully perform every provision comply with all of the conditions of this Lease to be performed by itLease, the security deposit or any balance thereof Security Deposit shall be returned to Tenant (or, at Landlord's option, to after the last assignee of Tenant's interest hereunder) at date fixed as the expiration end of the Lease termTerm and after delivery to Landlord of entire possession of the Leased Premises. In no event shall the event of termination of Landlord's interest in this Lease, Landlord shall transfer security be applied by Tenant to reduce any remaining balance of such deposit to Landlord's successor in interestrent or other charge payable by Tenant.
Appears in 1 contract
Samples: Lease Agreement (Stratagene Corp)
Security Deposit. Upon Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful faithfull performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofand not as an advance rental deposit or as a measure of Landlord's damage in case of Tenants default. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or use any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or appliedused, Tenant shall, shall within five (5) business days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so -so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit The Security Deposit or any balance thereof that has not been applied in accordance with this Section 5 shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of after termination of Landlord's interest this Lease in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestaccordance with applicable laws.
Appears in 1 contract
Security Deposit. Upon execution Landlord acknowledges receipt from Tenant of the Security Deposit to be held by Landlord, as security, for and during the Term, which deposit shall be returned to Tenant, at the termination of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) Lease provided there exists no breach of the Fundamental Lease Provisionsundertaking of Tenant. Such sum shall The Security Deposit may be held by Landlord in such manner as security for the faithful performance by Tenant of all the terms, covenantsit shall elect, and conditions of this Lease Landlord shall be entitled to be kept and performed by Tenant during the term hereofany interest which accrues thereon. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit Security Deposit is applied to the payment an obligation of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or appliedTenant hereunder, Tenant shall, within five (5) days after written demand therefor, deposit cash with shall immediately upon request by Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security depositamount. Tenant shall not be entitled have the right to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease call upon Landlord to be performed by it, the security deposit apply all or any balance thereof part of the Security Deposit to cure any default or fulfill any obligation of Tenant, but such use shall be returned to Tenant (or, at Landlord's option, to solely in the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination discretion of Landlord's . Upon any conveyance by Landlord of its interest in under this Lease, the Security Deposit may be delivered by Landlord to Landlord’s assignee, grantee or transferee. Upon any such delivery and upon such assignee, grantee or transferee agreeing to assume the obligations of Landlord hereunder, Landlord shall transfer thereupon be released of any remaining balance of and all liability with respect to the Security Deposit, its application and return, and Tenant agrees to look solely to such deposit assignee, grantee or transferee. It is further understood that this provision shall also apply to Landlord's successor in interestsubsequent assignees, grantees and transferees.
Appears in 1 contract
Security Deposit. Upon Simultaneously with Tenant’s execution and delivery of this Lease, Tenant shall pay deliver to Landlord Landlord, as a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security Security Deposit for the faithful performance by Tenant of all its obligations under this Lease, the terms, covenants, and conditions of this amount specified in the Basic Lease to be kept and performed by Tenant during the term hereofInformation. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rentis in default hereunder, Landlord may (may, but shall not be required to) usewithout obligation to do so, apply or retain use all or any part portion of the security deposit Security Deposit to cure the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, default or to compensate Landlord for any other loss or damage which all damages sustained by Landlord may suffer by reason of Tenant's defaultin connection therewith. If any Tenant shall, immediately on demand, pay to Landlord a sum equal to the portion of the security Security Deposit so applied or used to replenish the amount of the Security Deposit held to increase such deposit is so used or applied, Tenant shall, within five to the amount initially deposited with Landlord. Within sixty (560) days after written demand thereforthe expiration or termination of this Lease, deposit cash with Landlord in an amount sufficient shall return the Security Deposit to Tenant, less such amounts as are reasonably necessary, as determined by Landlord, to remedy Tenant’s default(s) hereunder or to otherwise restore the Premises to a clean and safe condition, reasonable wear and tear excepted. If the cost to restore the security deposit Premises exceeds the amount of the Security Deposit, Tenant shall promptly deliver to its original amount Landlord any and Tenant's failure to do so shall be a material breach all of this Leasesuch excess sums. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general other funds, and shall not be deemed a trustee of the security deposit. and, unless otherwise required by law, Tenant shall not be entitled to interest on such depositthe Security Deposit. If In no event or circumstance shall Tenant shall fully and faithfully perform every provision of this Lease have the right to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration use of the Lease term. In Security Deposit and, specifically, Tenant may not use the event of termination of Landlord's interest in this Lease, Landlord shall transfer Security Deposit as a credit or to otherwise offset any remaining balance of such deposit to Landlord's successor in interestpayments required hereunder.
Appears in 1 contract
Samples: Lease Agreement (Alphasmart Inc)
Security Deposit. Upon Concurrently with Tenant's execution of this Lease, Tenant shall pay to deposit with Landlord the sum specified in Paragraph 1.I hereof as a security deposit in (the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum "Security Deposit"), which shall be held by Landlord as security for the faithful performance by Tenant of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant, and shall not in any event be used or applied by Tenant during the term hereof. as "last month's rent." If Tenant defaults with respect to any provision of this Lease, including, without limitationbut not limited to, the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or Security Deposit for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit said Security Deposit is so used or applied, Tenant shall, within five ten (510) days after written demand therefortherefore, deposit cash with Landlord in an the amount sufficient to restore the security deposit Security Deposit to its original amount and amount. Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositSecurity Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit The Security Deposit or any unapplied balance thereof shall be returned retuned to Tenant (or, or at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease termTerm and after Tenant has vacated the Premises. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit said Security Deposit to Landlord's successor in interestinterest whereupon Landlord shall be released from liability for the return of such Security Deposit or any accounting therefor.
Appears in 1 contract
Samples: Lease Agreement (Logic Devices Inc)
Security Deposit. Upon execution of this Lease, the date hereof Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by 1 hereof which Landlord will hold in escrow as security for the faithful performance by Tenant of all the terms, covenants, its covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of agreements under this Lease, includingbut in no event shall Landlord be obliged to apply same to rents or other charges in arrears or damages for Tenant's default hereunder, without limitation, the provisions relating to the payment of rent, but Landlord may (but so apply the security deposit at its option. Landlord's right to possession of the Premises for Tenant's default or any other reason shall not be required toaffected by the fact that Landlord holds said security deposit. The security deposit, if not so applied by Landlord, shall be returned to Tenant within sixty (60) usedays after this Lease terminates, apply or retain all or provided that Tenant shall have vacated the Premises and delivered the same to Landlord, as herein provided. In the event of any part transfer of Landlord's interest in the Premises, Landlord shall be deemed to have transferred its interest in the security deposit to the payment of any rent in defaulttransferee, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so who shall be a material breach of this Lease. Landlord shall not be required deemed to keep this security deposit separate from its general funds, and shall not be deemed a trustee of have assumed all liability with respect to the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof whereupon Landlord shall be returned released of all liability with respect to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.security deposit,
Appears in 1 contract
Security Deposit. Upon execution Landlord acknowledges that it has received from Tenant the Security Deposit, which amount shall be security for the full and faithful performance and observance by Tenant of its covenants and obligations under this Lease. No interest shall be payable on the Security Deposit, and it is agreed and acknowledged by Tenant that the Security Deposit is not an advance payment of rent or a measure of Landlord's damages in the case of default by Tenant. Upon the occurrence of an event of default under this Lease, Landlord may use, apply, or retain the whole or any part of the Security Deposit to the extent required for the payment of any Base Rental and additional rent or any other sums to which Tenant is in default or for the payment of any other damage, injury, expense, or liability resulting from any event of default. Following any such application of the Security Deposit, Tenant shall pay to Landlord a security deposit in on demand the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient necessary to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Leaseamount. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of In the security deposit. Tenant shall not be entitled to interest on such deposit. If event that Tenant shall fully and faithfully perform every provision comply with all of its covenants and obligations under this Lease to be performed by itLease, the security deposit or any balance thereof Security Deposit shall be returned to Tenant within thirty (or, at Landlord's option, to 30) days after the last assignee Expiration Date (or any permitted extensions thereof) and after delivery of Tenant's interest hereunder) at the expiration possession of the Lease termPremises to Landlord in accordance with the terms hereof. In the event of termination a sale of Landlord's interest in the Building or a lease of the Building, subject to this Lease, Landlord shall be released from all liability for the return of the Security Deposit and Tenant shall look to the new landlord for the return of the Security Deposit. This provision shall apply to every transfer any remaining balance or assignment made of such deposit the Security Deposit to Landlord's successor in interesta new landlord.
Appears in 1 contract
Samples: Lease Agreement (E3 Corp)
Security Deposit. Upon execution of this Lease, Security Deposit The Tenant shall pay to the Landlord on execution of this Lease by the Tenant the sum of Five Thousand Five Hundred Nineteen Dollars ($5,519.00) as a security deposit in to the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord to stand as security for the faithful payment by the Tenant of any and all present and future debts and liabilities of the Tenant to the Landlord and for the performance by the Tenant of all the terms, covenants, and conditions of its obligations arising under or in connection with this Lease to be kept (the "Debts, Liabilities and performed by Tenant during the term hereofObligations"). If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. The Landlord shall not be required to keep this security the deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination the Landlord disposing of Landlord's its interest in this Lease, the Landlord shall transfer any remaining balance of such credit the deposit to Landlord's its successor and thereupon shall have no liability to the Tenant to repay the security deposit to the Tenant, Subject to the foregoing and to the Tenant not being in interestdefault under this Lease, the Landlord shall repay the security deposit to the Tenant without interest at the end of the Term or sooner termination of the Lease provided that all Debts, Liabilities and Obligations of the Tenant to the Landlord are paid and performed in full, failing which the Landlord may on notice to the Tenant elect to retain the security deposit and to apply it in reduction of the Debts, Liabilities and Obligations and the Tenant shall remain fully liable to the Landlord for payment and performance of the remaining Debts, Liabilities and Obligations.
Appears in 1 contract
Samples: Lease Agreement (Photoloft Com)
Security Deposit. Upon execution of this Lease, Tenant shall pay to has deposited with Landlord a security deposit in the amount sum set forth in Paragraph 7(c) of the Fundamental Lease ProvisionsSection 1 as a security deposit. Such sum The security deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, but not limited to the provisions relating to the payment of rentRent, Landlord may (but shall not be required to) use, apply or retain all or any part of the this security deposit to for the payment of any rent Rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate separated from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such the deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In Landlord may transfer the event security deposit to a purchaser of termination of Landlord's interest in this Lease, the Building and upon such transfer Landlord shall transfer be discharged from any remaining balance further liability for the application or return of such deposit to Landlord's successor in interestthe security deposit.
Appears in 1 contract
Samples: Lease Agreement (Brass Eagle Inc)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during Lease. During the term hereof. If Tenant , if tenant defaults with respect to any provision of this Lease, including, without limitationincluding but not limited to, the provisions relating to the payment of rent, Landlord may (may, but shall not be required to) , use, apply or retain all or any part of the this security deposit to for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to [illegible] compensate Landlord for any other loss or damage which Landlord landlord may suffer by reason of Tenant's tenants default. If any portion of the security said deposit is so used or applied, Tenant shall, within five (5) days after written demand therefortherefore, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant Tenants shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such said deposit to Landlord's successor in interest.
Appears in 1 contract
Security Deposit. Upon execution Tenant shall pay Landlord the sum of Five thousand five hundred Dollars ($5,500.00) (hereinafter referred to as "Security Deposit") which shall be held by the Landlord during the Term of this Lease, or any renewal thereof. Under no circumstances will Tenant shall pay be entitled to any interest on the Security Deposit. The Security Deposit may be used by Landlord, at its discretion, to apply to any amount owing to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's defaulthereunder, or to compensate Landlord for pay the expenses of repairing any other loss damage to the Premises, or damage which Landlord may suffer by reason to cure any default of Tenant's defaultTenant hereunder. If Landlord uses all or any portion of the security deposit is so used or appliedSecurity Deposit as permitted therein, Tenant shall, within five ten (510) days of written demand by Landlord, pay to Landlord the amount necessary to fully restore the Security Deposit to its original amount. If there are no payments to be made from the Security Deposit as set out in this paragraph, or if there is any balance of the Security Deposit remaining after all payments have been made, the Security Deposit, or such balance thereof remaining, will be refunded to the Tenant within thirty (30) days after written demand thereforfulfillment by Tenant of all obligations hereunder. In no event shall Tenant be entitled to apply the Security Deposit to any Rent due hereunder. Upon sale or conveyance of the Property, deposit cash with Landlord in an amount sufficient may transfer or assign the Security Deposit to restore any new owner of the security deposit to its original amount Premises, and Tenant's failure to do so upon such transfer all liability of Landlord for the Security Deposit shall be a material breach of this Leaseterminate. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, commingle the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestSecurity Deposit with its other funds.
Appears in 1 contract
Samples: Lease Agreement (Med E America Corp)
Security Deposit. Upon Tenant shall, upon execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit the sum specified in the amount set forth in Paragraph 7(c) of the Fundamental Basic Lease Provisions. Such sum shall be held by Landlord Information as security for the full and faithful performance by Tenant of all the terms, covenants, and conditions every provision of this Lease to be kept and performed by Tenant during (the term hereof"Security Deposit"). If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply apply, or retain all or any part of the security deposit to Security Deposit for the payment of Base Rent or any rent other sum in default, or for the payment of any other amount which that Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss loss, cost, or damage which that Landlord may suffer by reason of Tenant's default, and if Tenant so defaults at least three (3) times, Landlord may require Tenant to deposit cash with Landlord to increase the Security Deposit up to a sum no greater than two (2) times the then current Base Rent. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original the amount and Tenant's failure to do so shall be a material breach of required by Landlord as allowed under this Leaseparagraph 48. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, funds and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Standard Industrial Lease (Arris Pharmaceutical Corp/De/)
Security Deposit. Upon Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord Lxxxxxxx as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofTxxxxx and not as an advance rental deposit or as a measure of Landlord’s damage in case of Txxxxx’s default. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or use any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's ’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit is so used or appliedused, Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's ’s failure to do so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee such time after termination of this Lease when Landlord shall have determined that all of Tenant's interest hereunder) at the expiration of the ’s obligations under this Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interesthave been fulfilled.
Appears in 1 contract
Security Deposit. Upon Concurrently with the execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount sum set forth in Basic Lease Provisions Paragraph 7(c) of E (the Fundamental Lease Provisions. Such sum shall be held by Landlord "Security Deposit"), as security for the full and faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to Security Deposit for the payment of any rent sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. Application of the Security Deposit shall not constitute a cure of the default by Tenant to which the application relates unless Tenant timely replenishes the Security Deposit as set forth in the following sentence. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Leaseamount. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe deposit at the rate of 4.5% per annum. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by itTenant, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunderinterest) at promptly following the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestTerm.
Appears in 1 contract
Samples: Lease (Inflow Inc)
Security Deposit. Upon execution To secure its performance of its obligations under this Lease, Tenant has deposited the Security Deposit with Landlord pursuant to the Existing Lease. Landlord shall pay to hold such amount as Tenant's Security Deposit under this Lease. Landlord a security deposit in may commingle the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofSecurity Deposit with other funds. If Tenant defaults with respect to any provision provisions of this Lease, including, without limitation, including but not limited to the provisions relating to the payment of rentRent, Additional Rent and any of the monetary sums due herewith, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or this Security Deposit for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, within five ten (510) days after written demand therefortherefore, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount amount, and Tenant's failure to do so shall be a material breach of this Lease. Tenant shall forthwith on demand restore the Security Deposit to its full original amount. If Tenant is not in default at the termination of this Lease, Landlord will return any remaining Security Deposit, without interest, upon receipt of Tenant's forwarding address, or as provided by law, whichever is later. Tenant shall not assign or encumber the Security Deposit or attempt to do so, and Landlord shall not be required to keep this security deposit separate from its general fundsbound by any such assignment or encumbrance. Regardless of any Assignment, and shall not be deemed a trustee of Landlord may return the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, Security Deposit to the last assignee of original Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Security Deposit. Upon Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofand not as an advance rental deposit or as a measure of Landlord's damage in case of Tenant's default. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, . Landlord may (but shall not be required to) use, apply or retain all or use any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, used. Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee such time after termination of this Lease when Landlord shall have determined that all of Tenant's interest hereunder) at the expiration of the obligations under this Lease termhave been fulfilled. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.See Rider
Appears in 1 contract
Samples: Lease (Globecomm Systems Inc)
Security Deposit. Upon Concurrently with Tenant's execution of this Leaselease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth in Paragraph 7(csum of Eight Thousand Three Hundred Four ($8,304.00) of the Fundamental Lease Provisions. Such Dollars $8,304.00), which sum shall be held by Landlord as a security deposit for the faithful performance by Tenant of all of the terms, covenants, covenants and conditions of this Lease lease to be kept and performed by Tenant during the term hereofTenant. If Tenant defaults with respect to any provision of this Leaselease, including, without limitationincluding but not limited to, the provisions relating to the payment of rentbasic rent and common area charges, Landlord may (but shall not be required to) use, apply apply, or retain all or any part of the this security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or appliedused, Tenant shall, within five ten (510) days after written demand therefor, deposit cash with Landlord in an the amount sufficient to restore the security deposit to its original amount and amount; Tenant's failure to do so shall be a material breach of this Leaselease. Landlord shall not be required to keep this security deposit separate from its general funds, funds and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision is not in default at the expiration or termination of this Lease to be performed by itlease, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to after Tenant has vacated the last assignee of Tenant's interest hereunder) at the expiration of the Lease termPremises. In the event of termination of Landlord's interest in this Leaselease, Landlord shall transfer any remaining balance of such said deposit to Landlord's successor in interest, and Tenant agrees that Landlord shall thereupon be released from liability for the return of such deposit or any accounting therefor.
Appears in 1 contract
Samples: Lease (Novacept Inc)
Security Deposit. Upon execution of this Lease, Any Security Deposit made by Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord Landlord, without liability for interest except to the extent required by law, as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of obligations under this Lease. Unless required by applicable law, Landlord shall not be required to keep this security deposit separate the Security Deposit segregated from its general funds, and shall not be deemed a trustee other funds of the security depositLandlord. Tenant shall not be entitled assign or in a any way encumber the Security Deposit. Upon the occurrence of any Event of Default by Tenant, Landlord shall have the right, without prejudice to interest any other remedy, to use the Security Deposit, or portions thereof, to the extent necessary to pay any arrearage in Rent, and any other damage, injury or expense. Following any such application of all or any portion of the Security Deposit, Tenant shall pay to Landlord, on such depositdemand, the amount so applied in order to restore the Security Deposit to its original amount. If Tenant shall fully and faithfully perform every provision is not in default at the termination of this Lease to be performed by itLease, any remaining balance of the security deposit or any balance thereof Security Deposit shall be returned to Tenant, provided that Tenant (orsurrenders the Premises without damage pursuant to Article 19 hereof. If Landlord transfers its interest in the Premises during the Lease Term, at Landlord's option, Landlord shall assign the Security Deposit to the last assignee of Tenant's interest hereunder) at transferee, and thereafter Landlord shall have no further liability to Tenant for the expiration of the Lease termSecurity Deposit. In the event of termination of Landlord's interest in a permitted assignment under this LeaseLease by Tenant, the Security Deposit shall be held by Landlord as a deposit made by the permitted assignee and Landlord shall transfer any remaining balance have no further liability with respect to the return of such deposit the Security Deposit to Landlord's successor in interestthe original Tenant.
Appears in 1 contract
Samples: Lease Agreement (Teamstaff Inc)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as As security for the full and faithful performance by Tenant of all the terms, covenants, every covenant and conditions condition of this Lease to be kept and performed by Tenant, Tenant during has paid to Landlord the term Security Deposit as specified in Section 1(m) hereof. If Tenant defaults with in any respect to any provision of under this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit Security Deposit to the payment of any rent sum in default, default or for the payment of any amount other sum which Landlord may be required or may in its reasonably discretion deems necessary to spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer incur by reason of Tenant's default. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five (5) days after of written demand therefortherefor by Landlord, deposit cash with Landlord in an the amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositapplied. If Tenant shall have fully complied with all of the covenants and faithfully perform every provision conditions of this Lease to be performed by itLease, the security deposit or any balance thereof amount of the Security Deposit to the extent not applied by Landlord under this Section 7 shall be returned repaid to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at within thirty (30) days after the expiration or sooner termination of the Lease termthis Lease. In the event of termination of LandlordTenant's interest in default under this Lease, Landlord's right to retain the Security Deposit shall be deemed to be in addition to any and all other rights and remedies at law or in equity available to Landlord. Landlord shall transfer not be required to keep any remaining balance of such deposit Security Deposit separate from its general funds and Tenant shall not be entitled to Landlord's successor in interestany interest thereon.
Appears in 1 contract
Samples: Lease Addendum (Bsquare Corp /Wa)
Security Deposit. Upon Tenant's execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit in the amount set forth shown as the Security Deposit in Paragraph 7(c) Section 1.17. Landlord shall hold the Security Deposit as collateral security for Tenant's faithful performance of all of the Fundamental covenants and conditions contained in this Lease. If at any time during the Lease Provisions. Such Term any sum shall be held by Landlord as security for the faithful performance payable by Tenant shall become overdue, then Landlord may apply any portion of all the Security Deposit to pay the overdue sum. If Tenant fails to keep or perform any of the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part or all of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or Security Deposit to compensate Landlord for any other its loss or damage which Landlord may suffer by reason of due to Tenant's defaultbreach. If Should the Security Deposit or any portion of the security deposit is so used or appliedit be applied by Landlord pursuant to this section, upon Landlord's written demand, Tenant shall, shall send Landlord a sufficient amount in cash to restore the Security Deposit to the original sum deposited. Tenant's failure to restore the Security Deposit within five (5) days after written receipt of Landlord's demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be constitute a material breach of this LeaseDefault. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof The Security Deposit shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration end of the Lease term. In the event of termination of Landlord's interest in Term if Tenant has made all payments and performed all covenants and agreements under this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Security Deposit. Upon Tenant shall deposit the sum of TWENTY EIGHT THOUSAND EIGHT HUNDRED FORTY THREE DOLLARS AND SEVENTY-SIX CENTS ($28,843.76) with Landlord upon execution of this Lease as security for the full performance of all of the provisions of this Lease on its part (the "Security Deposit"). If at any time during the Term of this Lease, Tenant shall pay to Landlord a security deposit be in the amount set forth in Paragraph 7(cdefault, Landlord, without limitation of any other right or remedy which may apply because of such default, may (i) apply all or part of the Fundamental Lease Provisions. Such sum shall be held Security Deposit for the payment of Rent in default; and/or (ii) appropriate all or part of the Security Deposit to cure the default, including, but not limited to, the defraying of any and all reasonable and necessary expenses incurred by Landlord as security for in recovering possession of the faithful performance Premises upon termination of this Lease. To the extent that all or any portion of the Security Deposit is thus applied or appropriated by Tenant of all the terms, covenantsLandlord, and conditions of if this Lease is not terminated as a result of the default, Tenant, at Landlord's request and as a condition to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision continuance of this Lease, including, without limitation, the provisions relating shall pay to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shallLandlord, within five ten (510) days after written demand thereforof request by the Landlord, deposit cash with Landlord in an amount sufficient to restore place in the security deposit to its Landlord's hands the amount of the original amount and Tenant's failure to do so shall be a material breach Security Deposit, taking into account the portion, if any, of this Leasethe adjusted original Security Deposit as may not have been applied or expended by Landlord in accordance herewith. Landlord shall not be required to keep this security deposit separate from its may retain the Security Deposit in a general account with other funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe Security Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) is not in default at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance return the Security Deposit (or the portion that has not been applied or appropriated in accordance herewith) to the Tenant within thirty days (30) after the termination date of such deposit to Landlord's successor in interestthis Lease.
Appears in 1 contract
Samples: Lease Agreement (Dallas Gold & Silver Exchange Inc /Nv/)
Security Deposit. Upon execution (a) Tenant has deposited with Landlord the sum of this Lease, Tenant shall pay ONE THOUSAND FOUR HUNDRED FORTY AND 18/100'S DOLLARS ($1,440.18) to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, terms covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect to any provision of this Lease, including, without limitation, including but not limited to the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the this security deposit to for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security said deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. .
(b) If Tenant shall fully and faithfully perform every provision is not in default at the expiration or termination of this Lease to be performed by itLease, the security deposit or any balance thereof Landlord shall be returned return to Tenant (or, or at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration balance of the Lease term. In security deposit; provided that, a reasonable portion of said deposit may be retained to secure payment of Tenant's share of operating Expenses (as defined in Paragraph 7) prior to determination of the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestactual amount thereof.
Appears in 1 contract
Samples: Office Lease (Salix Holdings LTD)
Security Deposit. Upon Concurrent with Tenant’s execution of this Lease, Tenant shall pay to deposit with Landlord a security deposit (the “Security Deposit”) in the amount set forth in Paragraph 7(c) Section 11 of the Fundamental Lease ProvisionsSummary. Such sum The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereofLease Term. If Tenant defaults with respect to any provision provisions of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment of any rent in default, or Security Deposit for the payment of any amount which Landlord may spend Rent or become obligated any other sum in default, to spend by reason of cure Tenant's default’s default hereunder, or to compensate Landlord for any other loss or damage which that Landlord may suffer by reason of Tenant's ’s default. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount amount, and Tenant's ’s failure to do so shall be a material breach of default under this Lease. Landlord shall not be required return the Security Deposit (less any portion thereof used, applied or retained by Landlord as permitted herein) to keep this security deposit separate from its general funds, and shall not be deemed a trustee Tenant within sixty (60) days following the expiration of the security depositLease Term. Tenant shall not be entitled to any interest on such depositthe Security Deposit. If Tenant shall fully and faithfully perform every provision hereby waives the provisions of this Lease to be performed by itany applicable Oregon statutes or laws, the now or hereafter in force, which provide that Landlord may claim from a security deposit or any balance thereof shall be returned only those sums reasonably necessary to Tenant (or, at Landlord's optionremedy defaults in the payment of rent, to repair damage caused by Tenant or to clean the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestPremises.
Appears in 1 contract
Samples: Office Lease (Planar Systems Inc)
Security Deposit. Upon execution In lieu of this Leasea Security Deposit, Tenant shall pay to Landlord the first month's rent upon the signing of this lease as a security good faith deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for the full and faithful performance by Tenant of all the terms, covenants, terms and conditions of this Lease to Lease. Tenant waives any requirement that such payment be kept and performed by held in any escrow account or in any other way segregated from Landlord's other funds. Tenant during the term hereoffurther waives any requirement that such payment be held in any interest bearing account. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit required to cure any default of Tenant under the payment of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount terms and Tenant's failure to do so shall be a material breach conditions of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the expiration of the Lease term. In the event of termination such application, Tenant must deposit with the Landlord the amount applied to cure its default immediately on notice from Landlord of Landlord's the nature and amount of the application. If Landlord transfers its interest in this the Lease, Landlord shall it may do either of the following: (1) return the deposit to Tenant, without interest, any deductions made and not replaced by Tenant; or (2) transfer the deposit, without interest, minus any remaining balance of such deposit deductions made and not replaced by Tenant, to Landlord's successor in interest.. In the event Landlord transfers all or any portion of the deposit under this Paragraph, upon such transfer Landlord shall be relieved of all obligations with regard to the deposit, and all of rights and obligations regarding such good faith deposit shall accrue to the transferee. Landlord shall give Tenant notice of any such transfer, including the name and address of the transferee and the amount transferred.
Appears in 1 contract
Security Deposit. Upon execution Concurrent with Tenant's first delivery to Landlord of Tenant-executed counterparts of this Lease, Tenant shall pay to deposit with Landlord a security deposit the Security Deposit referenced in the amount set forth in Paragraph 7(c) of the Fundamental Lease ProvisionsDEFINITIONS AND BASIC PROVISIONS above. Such sum The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofLease Term. If Tenant defaults with respect to any provision of this Lease, including, without limitation, including but not limited to the provisions relating to the payment of rent, Landlord may (may, but shall not be required to) to use, apply or retain all or any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, default or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, therefor deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and amount. Tenant's failure to do so shall be a material breach of default under this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe Security Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by itTenant, the security deposit Security Deposit, or any balance thereof thereof, shall be returned to Tenant (or, or at Landlord's option, option to the last assignee of Tenant's interest hereunder) at within thirty (30) days following the expiration of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestTerm.
Appears in 1 contract
Samples: Lease (Hart Industries Inc)
Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord a deposit the security deposit in the amount set forth in Paragraph 7(c) Item 8 of the Fundamental Lease Provisions. Such sum shall be held by Schedule (the “Security Deposit”) with Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of Tenant’s obligations under this Lease, including, without limitation, . Upon the provisions relating to the payment occurrence of renta Default, Landlord may (but shall not be required to) use, apply or retain use all or any part of the security deposit to Security Deposit for the payment of any rent in default, Rent or for the payment of any amount which Landlord may spend pay or become obligated to spend pay by reason of Tenant's defaulton such Default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultsuch Default. If any portion of the security deposit Security Deposit is so used or appliedused, Tenant shall, shall within five (5) days after written demand therefor, therefore deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Leaseamount. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such depositthe Security Deposit. In no event shall the Security Deposit be considered an advanced payment of rent, and in no event shall Tenant be entitled to use the Security Deposit for the payment of Rent. If no default by Tenant shall fully and faithfully perform every provision of this Lease to be performed by itexists hereunder, the security deposit Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at within thirty days after the expiration of the Lease termTerm and vacation of the Premises by Tenant. In the event of termination of Landlord's interest in this Lease, Landlord shall have the right to transfer the Security Deposit to any remaining balance purchaser of the Building. Upon such deposit transfer, Tenant shall look solely to Landlord's successor in interestsuch purchaser for return of the Security Deposit, and Landlord shall be relieved of any liability with respect to the Security Deposit.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant shall pay deposit the Security Deposit with Landlord to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord as security for secure the faithful performance by Tenant of all the termseach term, covenantscovenant, and conditions condition of this Lease to be kept and performed by Tenant during the term hereofLease. If Tenant defaults with respect shall at any time fail to make any provision of payment or fail to perform any obligation under this Lease, includingLandlord may, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required obligated to) , and without waiving or releasing Tenant from any obligation under this Lease, use, apply or retain all the whole or any part of the security deposit Security Deposit (i) to the payment extent of any rent in default, sum due to Landlord; or for the (ii) to make any required payment of any amount which Landlord may spend or become obligated to spend by reason of on Tenant's default, behalf; or (iii) to compensate Landlord for any other loss loss, damage, attorneys' fees, or damage which expense sustained by Landlord may suffer by reason of due to Tenant's default. If any portion of the security deposit is so used or appliedIn such event, Tenant shall, within five ten (510) days after of written demand thereforby Landlord, deposit cash with remit to Landlord in an amount sufficient funds to restore the security deposit Security Deposit to its original amount and sum; Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Should Tenant shall fully comply with all of the terms, covenants, and faithfully perform every provision conditions of this Lease and at the end of the term of this Lease leave the Premises in the condition required by this Lease, then the Security Deposit, less any sums owing to be performed by itLandlord, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest interests hereunder) at within thirty (30) days after the expiration termination of this Lease and vacancy of the Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interestPremises by Tenant.
Appears in 1 contract
Samples: Lease Agreement
Security Deposit. Upon Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereofand not as an advance rental deposit or as a measure of Landlord's damage in case of Tenant's default. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or use any part of the security deposit to Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or appliedused, Tenant shall, shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep this security deposit the Security Deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit Security Deposit or any balance thereof shall be returned to Tenant within sixty (or, at Landlord's option, to the last assignee 60) days after termination of this Lease and all of Tenant's interest hereunder) at the expiration of the obligations under this Lease term. In the event of termination of Landlord's interest in this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interesthave been fulfilled.
Appears in 1 contract
Samples: Lease Agreement (Omp Inc)
Security Deposit. Upon execution Tenant has deposited with Landlord as security for the performance by Tenant of the terms of this Lease, Tenant shall pay to Landlord a security deposit in Lease the amount sum hereinabove set forth in Paragraph 7(c) of the Fundamental Lease Provisionsforth. Such sum shall be held by Landlord as security for the faithful performance by Tenant free of all the terms, covenantstrust, and conditions of this Lease to may be kept co-mingled with other (including Landlord’s own) funds, and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) useentitled to receive the interest earned thereon, if any. Landlord may use or apply on Tenant’s behalf or retain all (without liability for interest) during the Term the whole or any part of the security deposit so deposited to the extent required for the payment of any rent or other sums as to which Tenant may be in default, default hereunder or for the payment of any amount sums which Landlord may spend or become obligated to spend expend by reason of Tenant's default, or to compensate Landlord for ’s default in respect of any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach terms of this Lease, including but not limited to any deficiency or damage incurred in reletting the Premises. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Provided Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision comply with all the terms of this Lease to be performed by itLease, the such security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to the last assignee upon termination of Tenant's interest hereunder) at the expiration this Lease and after surrender of possession of the Lease termPremises to Landlord. In the event of termination a sale of the Shopping Center or assignment of this Lease by Landlord's interest in this Lease, Landlord shall have the right to transfer the security to its vendee or assignee, subject to Tenant’s aforesaid rights upon termination, and thereupon Landlord shall be released from any remaining balance liability with respect to the return of such deposit security to Landlord's successor Tenant, such vendee or assignee to be solely responsible to Tenant therefor. Tenant shall not assign or encumber its interest in interestthe security deposit, and neither Landlord nor its successors and assigns shall be bound by any attempted assignment or encumbrance thereof.
Appears in 1 contract
Security Deposit. Upon execution of this Lease, Tenant Landlord shall pay to Landlord hold the amount recited above as a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord deposit, if any, as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) use, apply or retain all or any part of the security deposit to the payment obligations of any rent in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of the security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a material breach of under this Lease. Landlord shall not be required obligated to keep this apply the security deposit separate from its general funds, upon any rent or other damages and Landlord's right to terminate this Lease and to possession of the Premises in the event of default shall not be deemed a trustee of affected by fact the that Landlord holds such security. Landlord may at any time apply the security deposit. Tenant shall not be entitled upon damages theretofore suffered and may retain the security to interest on apply upon such depositdamages as may accrue thereafter. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit is not applied to the payment of rent or any balance thereof damages, the same shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at the upon expiration of the Lease termand when Tenant shall have vacated the Premises and delivered possession to Landlord in the condition required hereby. In Landlord shall not be obligated to keep the event of termination of security deposit as a separate fund, but may mingle the same with Landlord's funds, and no interest shall accrue thereon. Tenant agrees not to look to the holder of a first mortgage of the building of which the Premises are a part, as mortgagee, mortgagee in possession, or successor in title to the property, for accountability for any security deposit required by the Landlord hereinunder unless said sums have actually been received by said mortgagee as security for the Tenant's performance of this Lease, Landlord shall transfer any remaining balance of such deposit to Landlord's successor in interest.
Appears in 1 contract
Samples: Lease (North Pointe Holdings Corp)
Security Deposit. Upon Concurrently with the execution of this Lease, Tenant shall pay has deposited with Landlord the Security Deposit, the receipt of which, subject to Landlord a security deposit in the amount set forth in Paragraph 7(c) of the Fundamental Lease Provisions. Such sum shall be held by Landlord collection, is hereby acknowledged, as security for the payment by Tenant of all Base Rent and Additional Rent and for the faithful performance by Tenant of all the terms, covenants, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment of rent, Landlord may (but shall not be required to) useto segregate the Security Deposit from other deposits or from other funds of Landlord or pay interest thereon, apply or retain all or unless required by applicable law. If, at any part time during the Term, Tenant does not fulfill any of its obligations under this Lease, Landlord shall have the security deposit right to use the payment of any rent in defaultSecurity Deposit, or for the payment of any amount which Landlord may spend or become obligated so much thereof as necessary, to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's defaultsatisfy such obligations. If any portion of the security deposit Security Deposit is so used or used, applied, Tenant shallor retained by Landlord as herein permitted, then within five (5) days after under written demand therefor, Tenant shall deposit cash with Landlord in an amount sufficient to restore the security deposit Security Deposit to its original amount amount, and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and shall not be deemed a trustee of the security deposit. Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform performs every provision term, covenant, condition and obligation of this Lease to be performed by itduring the Term, the security deposit Security Deposit (or any balance thereof thereof), without interest, shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest hereunder) at after the expiration of the Lease termTerm. In Landlord may deliver the event of termination Security Deposit to any purchaser of Landlord's interest in this Leasethe Premises if such interest is sold, in which event Landlord shall transfer be discharged from any remaining further liability with respect to the Security Deposit. The Security Deposit shall not be construed as liquidated damages, and if Landlord's claims hereunder exceed the Security Deposit, Tenant shall remain liable for the balance of such deposit to Landlord's successor in interestclaims.
Appears in 1 contract