Common use of Security Deposit Clause in Contracts

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, as security for Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter of Credit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach of this Lease. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions of this Lease to Lessee within sixty (60) days after expiration of the term hereof, and after Lessee has vacated the Premises.

Appears in 3 contracts

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

AutoNDA by SimpleDocs

Security Deposit. Lessee Lessee's $5,000.00 security deposit shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, remain as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there from, said deposit Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 3 contracts

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

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

Appears in 3 contracts

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

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $1,656.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in Paragraph 4.1 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use to Lessee (or, at Lessee's option, to the last assignee, if any, of Lessee's interest hereunder) within sixty thirty (6030) days after the expiration of f the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. The $1,684.00 security despot that was paid for lease dated 10/3/00 will be transferred and used for damages against this lease. The difference of $28.00 will be applied to September rent.

Appears in 2 contracts

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

Security Deposit. Upon Lessee's execution of this Lease, Lessee shall ---------------- deposit with Lessor upon execution hereof the Letter of Credit sum set forth in Article 1.i. as identified in Addendum One, the security deposit ("Security Deposit"). The Security Deposit shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunderall the terms, covenants and conditions of this Lease to be kept and performed by Lessee during the Term. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, but not limited to the provisions relating to the payment of Rentals or relating to the condition of the Premises at Lease Termination, Lessor may call upon (but shall not be required to) use, apply or retain all or any part of the Letter of Credit Security Deposit for the payment of any rent Rental or any other charge sum in default default, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee’s 's default, or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby xxxxx of Lessee's default. If Lessor calls upon any portion of the Letter of Credit as provided for herein and receive payment there fromSecurity Deposit is so used or applied, Lessee shall within ten five (105) days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit Security Deposit to the full its original amount required under the terms stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If Lessor shall not be required to keep the Security Deposit separate from its general funds, and Lessee performs all shall not be entitled to interest on the Security Deposit. Lessor is not a trustee of the Security Deposit and may use it in ordinary business, transfer it or assign it, or use it in any combination of such ways. Any remaining portion of the Security Deposit shall be returned to Lessee (or, at Lessor's option, to the last assignee of Lessee’s obligations 's interest hereunder) within two (2) weeks after Lease Termination and vacation of the Premises by Lessee or its last assignee; provided, said Letter however if any portion of Creditthe Security Deposit is to be applied to repair damages to the Premises caused by Lessee or Lessee's Agents or to clean the Premises, then the balance of the Security Deposit shall be returned to Lessee (or, at Lessor's option to the last assignee of Lessee's interests hereunder) no later than thirty (30) days from the date Lessor receives possession of the Premises. Lessee shall not transfer or so much thereof as has not theretofore been applied encumber the Security Deposit nor shall Lessor be bound by Lessee's attempt to do so. If Lessor's interest in this Lease is terminated, Lessor may transfer the Security Deposit to Lessor's successor in interest, and upon such transfer, Lessor shall be released from the terms and conditions of this Lease any liability to Lessee within sixty (60) days after expiration with respect to the Security Deposit and Lessee shall look only to the transferee for any return of the term hereof, and after Security Deposit to which Lessee has vacated the Premisesmay be entitled.

Appears in 2 contracts

Samples: Chordiant Software Inc, Chordiant Software Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $------------------- (See Addendum-Paragraph 25.) as security for Lessee’s 's faithful performance of Lessee’s obligations 's obligation hereunder. If Lessee fails falls to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or any other charge in default beyond any applicable grace period or for the payment of any other sum to which the Lessor may spend or become obligated to spend by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinbefore stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If Lessor shall not be required to keep said deposit separate from its general accounts if Lessee performs all of Lessee’s 's obligations hereunderhereunder as of the expiration of the Lease, said Letter of Creditdeposit, or so much thereof as has not been theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's inheres hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s Xxxxxx's faithful performance of Lessee’s Xxxxxx's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s Xxxxxx's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, a the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from Its general accounts. If Lessee Xxxxxx performs all of Lessee’s Xxxxxx's obligations hereunder, said Letter of Credit, deposit or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or. at Xxxxxx's option, to the last assignee, if any, of Xxxxxx's interest hereunder) days after at the expiration of the term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Xxxxxx and Xxxxxx with respect to said Security Deposit. 6.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $5,000.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, thereof or deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or. at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises.. than normal

Appears in 2 contracts

Samples: Industrial Building Lease (Futon World Inc), Industrial Building Lease (Futon World Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One$10,200.00, as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Progenitor Inc, Progenitor Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, ten thousand Dollars ($10,000) as security for Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may call upon the Letter use, apply, or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to for which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease hereinabove stated, and Lessee’s failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor’s option, to the last assignee, if any, of Lessee’s interest hereunder) days after at the expiration of the term hereof, Term and after Lessee has vacated the Premises.

Appears in 2 contracts

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

Security Deposit. As security for the performance of all of Lessee's obligations under this Lease, Lessee shall deposit with Lessor upon execution hereof pay the Letter of Credit Deposit to the Payment Location as identified when specified in Addendum OneExhibit X. Xxxxxx shall have no obligations to segregate the Deposit from its own funds or to account to Lessee for interest, as security for Lessee’s faithful performance of Lessee’s obligations hereunderif any, earned thereon. If Lessee fails to pay rent Rent hereunder or to pay any other charges sums due hereunder, or otherwise defaults with respect to perform any provision of the other terms and provisions of this Lease, or any document delivered pursuant hereto or thereto or is otherwise in Default hereunder or thereunder, in addition to all other rights Lessor may call upon the Letter of Credit for the payment of any rent have under law, hereunder or other charge in default or for the payment of any other sum to which thereunder, Lessor may become obligated use, apply or retain all or any portion of the Deposit in partial payment for sums due to Lessor by reason of Lessee’s default, or to compensate Lessor for any loss sums it may in its discretion advance as a result of such Default, or damage which to apply toward losses or expenses Lessor may suffer therebyor incur as a result of such Default. If Lessor calls applies all or any portion of the Deposit, such application shall not be deemed a cure of any Default, and upon the Letter of Credit as provided for herein and receive payment there fromwritten demand therefor, Lessee shall within ten (10) days after written demand therefore from Lessor, restore deposit such additional funds as shall reinstate the Letter original amounts thereof and the failure of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure Lessee to do so shall be a material breach of this Lease. If Lessee performs all Except as otherwise provided in this Section 20(m), and provided that no Default has occurred and is continuing on the Return Occasion, Lessor shall return forthwith any portion of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has the Deposit not theretofore been applied by Lessor, shall be released from the terms and conditions of as provided in this Lease Section 20(m) to Lessee within sixty (60) days after expiration of the term hereof, and after Lessee has vacated the PremisesLessee.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $1,343,00 as security for Lessee’s Xxxxxx's faithful performance of Lessee’s Xxxxxx's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s Xxxxxx's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee Xxxxxx performs all of Lessee’s Xxxxxx's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Xxxxxx's interest hereunder) days after at the expiration of the term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Xxxxxx and Xxxxxx with respect to said Security Deposit.

Appears in 2 contracts

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

Security Deposit. Concurrently with the Lessee's sexecution of this Lease, the Lessee shall deposit with the Lessor upon execution hereof the Letter sum specified in Item 7 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s the faithful performance by the Lessee of Lessee’s obligations hereunderall covenants and conditions of this Lease. If the Lessee fails to pay rent shall breach or other charges due hereunder, default in the performance of any covenants or otherwise defaults with respect to any provision conditions of this Lease, including the payment of rent, the Lessor may call upon use, apply or retain the Letter whole or any part of Credit such security deposit for the payment of any rent or other charge in default or for the payment of any other sum to which the Lessor may become obligated spend or be required to spend by reason of the Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If the Lessor calls upon so uses or applies all or any portion of said deposit, the Letter of Credit as provided for herein and receive payment there fromLessee shall, Lessee shall within ten (10) days after written demand therefore from Lessortherefor, deposit cash with the Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under herein above stated and the terms stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If Should the Lessee performs comply with all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms covenants and conditions of this Lease Lease, the security deposit or any balance thereof shall be returned to the Lessee within sixty (60or at the option of the Lessor, to the last assignee of the Lessee's interest in this Lease) days after at the expiration of the term hereof, term. The Lessee shall not be entitled to interest on the security deposit and after Lessee has vacated the Lessor shall have the right to commingle said security deposit with other funds of the Lessor. Should the Lessor sell its interest in the Premises, the Lessor may transfer to the purchaser thereof the then unexpended or unappropriated deposit and thereupon the Lessor shall be discharged from any liability for such funds.

Appears in 2 contracts

Samples: Adept Technology Inc, Adept Technology Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, thirteen thousand one hundred and seventy eight Dollars ($13,178.00) as security for Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may call upon the Letter use, apply, or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to for which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease hereinabove stated, and Lessee’s failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor’s option, to the last assignee, if any, of Lessee’s interest hereunder) days after at the expiration of the term hereof, Term and after Lessee has vacated the Premises.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof the Letter sum of Credit as identified in Addendum One, $5,128.85 --------- ________________________________________________________________________________ ________________________________________________________________________________ Said sum shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunderall of the terms, covenants, and conditions of this Lease to be kept and performed by Lessee during the term hereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision provisions of this Lease, including but not limited to the provisions relating to the payment of rent, and maintaining premises in good condition, Lessor may call upon the Letter (but shall not be required to) use, apply or retain all or any part of Credit this security deposit for the payment of any rent or any damages, or other charge sum in default default, or for the payment of any other sum to amount which Lessor may become obligated spend by reason of Lessee’s default, Leasee's default or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee's default. If any portion of said deposit is so used or applied. Lessee shall, upon demand therefor, deposit cash with Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, in an amount sufficient to restore the Letter of Credit security deposit to the full its original amount required under the terms stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep this security deposit separate from its general funds, and Lessee shall not be entitled to interest on such deposit. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Lessee within sixty (60) days after or, at Lessee's option, to the last assignee of Lessee's interest hereunder)at the expiration of the term hereofLease term. In the event of termination of Lessor's interest in this Lease, and after Lessee has vacated the PremisesLessor shall transfer said deposit to Lessor's successor in interest.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $840.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, . Lessor may call upon the Letter use apply, or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If thereby if Lessor calls upon the Letter so uses or applies all of Credit as provided for herein and receive payment there from, any portion of said deposit Lessee shall within ten (10) days after written demand therefore from Lessor, thereof deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease hereinabove stated, and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use to Lessee within sixty (60or at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premisespremises.

Appears in 2 contracts

Samples: Imarx Therapeutics Inc, Imarx Therapeutics Inc

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof and Lessor hereby acknowledges receipt of the Letter sum of Credit as identified in Addendum One, -0- which shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of all the terms of this Lease by Lessee to be observed and performed. Said deposit shall not be mortgaged, assigned, transferred or encumbered by Lessee without the express written consent of Lessor or encumbered by Lessee without the force and any such act on the part of Lessee shall be not be binding upon Lessor. Said security deposit shall not accrue interest. If any of the rents herein reserved or any other sum payable by Lessee to Lessor hereunder shall be overdue or unpaid, or should Lessor make payments on behalf of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect if Lessee shall fail to perform any provision of the terms of this Lease, the Lessor, at its option and without prejudice to any other remedy which Lessor may call upon the Letter of Credit for have on account thereof, may appropriate and apply said entire deposit, or so much thereof as may be necessary to compensate Lessor, toward the payment of any rent or other charge in default or for the payment of any other additional sum to which Lessor may become obligated by reason of Lessee’s default, due hereunder or to compensate Lessor for any loss or damage which sustained by Lessor may suffer thereby. If Lessor calls upon due to such breach on the Letter part of Credit as provided for herein Lessee; and receive payment there from, Lessee shall within ten (10) days after written forthwith upon demand therefore from Lessor, restore the Letter of Credit said security deposit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach of this Leaseoriginal sum deposited. If Should Lessee performs comply with all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions promptly pay all of this Lease the rentals and all other sums payable by Lessee to Lessor as they become due, said deposit shall be returned in full to Lessee within sixty (60) days after expiration at the end of the term hereofLease term. In the event of bankruptcy or other creditor debt proceedings against Lessee, the security deposit shall be deemed to be first applied to the payment of rent and after Lessee has vacated other charges due Lessor for all periods prior to the Premisesfiling of such proceedings.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit with Lessor Lessor, upon execution hereof the Letter of Credit as identified in Addendum Onehereof, $1,833.33 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all of Credit as provided for herein and receive payment there fromor any portion of said deposit, Lessee shall shall, within ten (10) 10 days after written demand therefore from Lessorthereof, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease herein above stated, and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, as it may be altered or amended and after Lessee has vacated the Premises.

Appears in 2 contracts

Samples: Intercell Corp, Intercell Corp

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

Appears in 2 contracts

Samples: Park Electrochemical Corp, Park Electrochemical Corp

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, N/A as security for LesseeXxxxxx’s faithful performance of LesseeXxxxxx’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may call upon the Letter use, apply, or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to for which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease hereinabove stated, and LesseeXxxxxx’s failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee Xxxxxx performs all of LesseeXxxxxx’s obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by LessorXxxxxx, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor’s option, to the last assignee, if any, of Xxxxxx’s interest hereunder) days after at the expiration of the term hereof, Term and after Lessee Xxxxxx has vacated the Premises.

Appears in 2 contracts

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

Security Deposit. On or before the date when Lessee signs this Lease, Lessee shall deposit with Lessor upon execution hereof the Letter sum of Credit $11,000.00 as identified in Addendum One, a Security Deposit. The Security Deposit shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of all of the provisions of this Lease to be performed or observed by Lessee’s obligations hereunder. No portion of the Security Deposit may be used for any monetary obligation owed by Lessee during the term of this Lease and any extension thereof, particularly the rental for the last month of the term of this Lease or any extension thereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon use, apply or retain all or any portion of the Letter of Credit Security Deposit for the payment of any rent said obligation or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon so uses or applies all or any portion of the Letter of Credit as provided for herein and receive payment there fromSecurity Deposit during the term hereof or any extension, Lessee shall within ten fifteen (1015) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit Security Deposit to the full amount required under the terms stated in this Lease and thereof. Lessee’s failure to do so shall be deemed a failure to pay rent and shall constitute a material breach of this Lease. Lessor shall not be required to keep the Security Deposit separate from his general accounts. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Creditthe Security Deposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee (or, at Lessor’s option, to the last assignee, if any, of Lessee’s interest hereunder) within sixty (60) days a reasonable time after the expiration of the term hereof, hereof and after Lessee has vacated the PremisesPremises and they are returned to Lessor in the condition in which they are obliged to be returned to Lessor, whichever is later. No trust relationship is created herein between Lessor and Lessee with respect to the Security Deposit.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $1.00 (only) as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach breath of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

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

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

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply, or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof and Lessor hereby acknowledges receipt of the Letter sum of Credit as identified in Addendum One, $ 2.112.16 which shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of all the terms of this Lease by Lessee to be observed and performed. Said deposit shall not be mortgaged, assigned, transferred or encumbered by Lessee without the express prior written consent of Lessor and any such act on the part of Lessee shall be without force and effect and shall not be binding upon Lessor. Said security deposit shall not accrue interest. If any of the rents herein reserved or any other sum payable by Lessee to Lessor hereunder shall be overdue or unpaid, or should Lessor make payments on behalf of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect if Lessee shall fail to perform any provision of the terms of this Lease, the Lessor, at its option and without prejudice to any other remedy which Lessor may call upon the Letter of Credit for have on account thereof, may appropriate and apply said entire deposit, or so much thereof as may be necessary to compensate Lessor, toward the payment of any rent or other charge in default or for the payment of any other additional sum to which Lessor may become obligated by reason of Lessee’s default, due hereunder or to compensate Lessor for any loss or damage which sustained by Lessor may suffer thereby. If Lessor calls upon due to such breach on the Letter part of Credit as provided for herein Lessee; and receive payment there from, Lessee shall within ten (10) days after written forthwith upon demand therefore from Lessor, restore the Letter of Credit said security deposit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach of this Leaseoriginal sum deposited. If Should Lessee performs comply with all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions promptly pay all of this Lease the rentals and all other sums payable by Lessee to Lessor as they become due, said deposit shall be returned in full to Lessee within sixty (60) days after expiration at the end of the term hereoflease term. In the event of bankruptcy or other creditor debt proceedings against Lessee, the security deposit shall be deemed to be first applied to the payment of rent and after Lessee has vacated other charges due Lessor for all periods prior to the Premisesfiling of such proceedings.

Appears in 2 contracts

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

Security Deposit. Lessee shall further agrees to pay to Lessor Thirty-One Thousand Four Hundred Eighty-Three and 62/100 ($31,483.62) Dollars as a security deposit with to be held by Lessor upon execution hereof the Letter of Credit as identified in Addendum One, as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunderall the terms, covenants and conditions of this Lease to be kept and performed by Lessee during the term hereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, but not limited to the provisions relating to the payment of rent, Lessor may call upon the Letter (but shall not be required to) use, apply or retain all or any part of Credit this security deposit for the payment of any rent or any other charge sum in default default, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee’s 's default, or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee's default. If Lessor calls upon the Letter any portion of Credit as provided for herein and receive payment there fromsaid deposit is so used or applied, Lessee shall within ten (10) days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit security deposit to the full its original amount required under the terms stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep this security deposit separate from its general funds, and Lessee shall not be entitled to interest on such deposit. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Lessee within sixty (60) days after or, at Lessee's option, to the last assignee of Lessee's interest hereunder at the expiration of the Lease term. In the event of termination of Lessor's interest in this Lease, Lessor shall transfer said deposit to Lessor's successor-in-interest. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security so that the amount of deposit held by Lessor shall at all times bear the same proportion to the then current rent as the original security deposit bears to the original monthly rent set forth in paragraph 1, hereof, and after Lessee has vacated the Premises.

Appears in 2 contracts

Samples: Decrane Aircraft Holdings Inc, Decrane Holdings Co

Security Deposit. Concurrently with Lessee's execution of this Lease and submission thereof for Lessor's execution, Lessee shall deposit with pay the Deposit to Lessor, which Deposit shall be held by Lessor upon execution hereof the Letter of Credit as identified in Addendum One, as security for Lessee’s the full and faithful performance of Lessee’s 's covenants and obligations hereunderunder the Lease. The Deposit is not an advance Base Rental deposit, an advance payment of any other kind, or a measure of Lessor's damages in case of Lessee's default. If Lessee fails to pay rent comply with the full and timely performance of any or other charges due hereunder, or otherwise defaults with respect to any provision all of Lessee's covenants and obligations set forth in this Lease, then Lessor may call upon the Letter of Credit for the payment of any rent or other charge in default or for the payment of may, from time to time, without waiving any other sum remedy available to which Lessor may become obligated by reason Lessor, use the Deposit, or any portion of Lessee’s defaultit, to the extent necessary to cure or remedy such failure or to compensate Lessor for any loss or damage which all damages sustained by Lessor may suffer therebyresulting from Lessee's failure to comply fully and timely with its obligations pursuant to this Lease. If Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written immediately pay to Lessor on demand therefore from Lessor, the amount so applied in order to restore the Letter of Credit Deposit to the full amount required under the terms stated in this Lease its original amount, and Lessee’s 's failure to immediately do so shall be constitute a material breach of default under this Lease. If Lessee performs all of Lessee’s is in compliance with the covenants and obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions of set forth in this Lease to Lessee within at the time which is sixty (60) days after following the time of both the expiration (or earlier termination) of this Lease and Lessee's vacating of the term hereofPremises, Lessor shall return the Deposit to Lessee promptly thereafter. Lessor's obligations with respect to the Deposit are those of a debtor and not a trustee. Lessor shall not be required to maintain the Deposit separate and apart from Lessor's general or other funds, and after Lessor may commingle the Deposit with any of Lessor's general or other funds. Lessee has vacated shall not at any time be entitled to interest on the PremisesDeposit.

Appears in 2 contracts

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

Security Deposit. Lessee shall deposit Tenant has deposited with Lessor upon execution hereof Landlord the Letter of Credit as identified Security Deposit set forth in Addendum One, Paragraph 1 above as security for Lessee’s Xxxxxx's faithful performance of Lessee’s Xxxxxx's obligations hereunder. If Lessee Tenant fails to pay rent Rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor Landlord may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent Rent or other charge in default or for the payment of any other sum to which Lessor Landlord may become obligated by reason of Lessee’s Tenant's default, or to compensate Lessor Landlord for any loss or damage which Lessor Landlord may suffer thereby. If Lessor calls upon the Letter Landlord so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee Tenant shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Landlord in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease Paragraph 1 and Lessee’s Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep said deposit separate from its general accounts. If Lessee Xxxxxx performs all of Lessee’s Tenant's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by LessorLandlord, shall be released from returned, without payment of interest or other increment for its use, to Tenant (or, at Landlord's option, to the terms and conditions last assignee, if any, of this Lease to Lessee within sixty (60Xxxxxx's interest hereunder) days after at the expiration of the term Term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Landlord and Tenant with respect to said Security Deposit.

Appears in 2 contracts

Samples: Industrial Lease (Aftermarket Technology Corp), Industrial Lease (Hansen Natural Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in Paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter of Credit for the payment of use, apply or retain all or any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under the terms stated in this Lease and of Lessee’s failure . Lessor shall not be required to do so shall be a material breach of this Leasekeep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied supplied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. Lessee at Lessee's option shall be able to assign their Security Deposit to another company which may purchase Lessee and Lessee's business.

Appears in 1 contract

Samples: Bea Systems Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter $3,366 of Credit as identified in Addendum One, which $3,366 is on deposit as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Atmi Inc

Security Deposit. Lessee shall will deposit with Lessor upon execution hereof the Letter sum of Credit as identified in Addendum One, . Said deposit shall be held by Xxxxxx as security for Lessee’s the faithful performance by Xxxxxx of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunderall the terms, or otherwise defaults with respect to any provision of this Leasecovenants, Lessor may call upon the Letter of Credit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach conditions of this Lease. If Lessee performs all at any time during or after the term of Lessee’s obligations hereunderthis Lease, said Letter any of Creditthe rent or other moneys due hereunder shall be overdue and unpaid, or so much thereof as has not theretofore been applied by Lessor, any other sum payable to Lessee to Lessor hereunder shall be released from overdue and unpaid, Lessor may, at the terms option of Lessor (but Lessor shall not be required to), appropriate and conditions apply any portion of said deposit to said sums. Lessor and Xxxxxx acknowledge and agree that the aforementioned deposit and rights of Lessor to appropriate same are not Xxxxxx’s sole remedy against Lessee for the performance of Xxxxxx’s obligation hereunder. Such remedy and the remedies set forth in the remainder of this paragraph shall not be deemed to be the exclusive remedies for Xxxxxx’s breach of this Lease but shall be in addition to all other remedies available at law or equity to Lessor. Should Lessee comply with all of the terms, covenants and conditions and promptly pay all of the rental herein provided as due, and all other sums payable to Lessee within sixty (60) days after expiration to Lessor hereunder, the said deposit shall be returned in full to Lessee at the end of the term hereof, and after Lessee has vacated the Premisesof this Lease.

Appears in 1 contract

Samples: Commercial Lease Contract

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth In paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other Increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Launch Media Inc

Security Deposit. 10.1 Lessee shall deposit with pay Lessor upon execution hereof the Letter sum specified in Section 1.6. This sum is designated as a Security Deposit and shall remain the sole and separate property of Credit as identified in Addendum OneLessor until actually repaid to lessee (or at Lessor's option the last assignee, as security for Lessee’s faithful performance if any, of Lessee’s obligations 's interest hereunder), said sum not being earned by Lessee until all conditions precedent for its payment to Lessee have been fulfilled. As this sum both in equity and at law is Lessor's separate property, Lessor shall not be required to: (i) keep said deposit separate from its general accounts; or (ii) pay interest or other increment for its use. If Lessee fails to pay rent or other charges when due hereunder, or otherwise defaults with respect to any provision of this Lease, including and not limited to Lessee's obligation to restore or clean the Leased Premises following vacation thereof, Lessee, at Lessor's election, shall be deemed to have earned the right to repayment of the Security Deposit, or those portions thereof used or applied by Lessor may call upon the Letter of Credit for the payment of any rent or other charge charges in default default, or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s lessee's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon may retain such portion of the Letter Security Deposit as it reasonably deems necessary to restore or clean the Leased Premises following vacation by Lessee. The Security Deposit is not to be characterized as rent until and unless so applied in respect of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore a default by Lessee. In the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be event a material breach of this Lease. If Lessee performs portion or all of Lessee’s obligations hereunder, said the Security Deposit is paid pursuant to a Letter of Credit, or so much thereof as has not theretofore been applied by Lessorthe terms specified in Exhibit J, attached hereto, shall be released from the terms and conditions of this Lease to Lessee within sixty (60) days after expiration of the term hereof, and after Lessee has vacated the Premisesapply.

Appears in 1 contract

Samples: MCB Financial Corp

Security Deposit. Lessee Tenant shall deposit with Lessor Landlord upon execution hereof the Letter sum of Credit as identified in Addendum One, _________________________________________________________ ($ ______) Dollars as security for Lessee’s Tenant's faithful performance of Lessee’s Tenant's obligations hereunder. If Lessee Tenant fails to pay rent or other charges due hereunder, or otherwise defaults default with respect to any provision of this Lease, Lessor Landlord may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor Landlord may become obligated by reason of Lessee’s Tenant's default, or to compensate Lessor Landlord for any loss or damage which Lessor Landlord may suffer thereby. If Lessor calls upon Landlord so uses or applies all or any portion of the Letter of Credit as provided for herein and receive payment there fromsaid deposits, Lessee Tenant shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Landlord in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s Tenant's failure to do so shall be a material breach of this Lease, and Landlord may at his option terminate the Lease. Landlord shall not be required to keep said deposit separate from its general accounts. If Lessee Tenant performs all of Lessee’s Tenant's obligations hereunder, said Letter of Credit, deposit or so much thereof as has not theretofore had nor therefore been applied by LessorLandlord, shall be released from returned, without payment of interest or other increment for its use, to Tenant (or, at Landlords option, to the terms and conditions last assignee, if any, of this Lease to Lessee Tenant's interest hereunder) within sixty fifteen (6015) days after the expiration of the term hereof, and or after Lessee Tenant has vacated the Premises, whichever is later.

Appears in 1 contract

Samples: Agreement (Esterline Technologies Corp)

Security Deposit. [Lessee shall deposit with Lessor upon execution execution] hereof the Letter of Credit as identified in Addendum One, Three Thousand Dollars ($3,000) as security for [for] Lessee’s 's faithful performance of Lessee’s 's faithful performance of Lessee's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this the Lease, Lessor may call upon the Letter use, apply, or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, thereof deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease hereinabove stated, and Lessee’s 's failure to do so shall be a material materials breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of the Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises.

Appears in 1 contract

Samples: Microhelix Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $9,685.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails falls to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms herein above stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease (Iprint Com Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $ 6,750,00 as security for Lessee’s Xxxxxx's faithful performance of Lessee’s Xxxxxx's obligations hereunder. If Lessee Xxxxxx fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, . Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s Xxxxxx's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee Xxxxxx performs all of Lessee’s Xxxxxx's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Xxxxxx's interest hereunder) days after at the expiration of the term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Xxxxxx and Xxxxxx with respect to said Security Deposit.

Appears in 1 contract

Samples: Assignment of Lease (Redenvelope Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $10,000.00 (existing) as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Micro Therapeutics Inc

Security Deposit. Lessee shall will deposit with Lessor upon execution hereof the Letter sum of Credit as identified in Addendum One, _. Said deposit shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunderall the terms, or otherwise defaults with respect to any provision of this Leasecovenants, Lessor may call upon the Letter of Credit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach conditions of this Lease. If at any time during or after the term of this Lease, any of the rent or other moneys due hereunder shall be overdue and unpaid, or any other sum payable to Lessee performs all to Lessor hereunder shall be overdue and unpaid, Lessor may, at the option of Lessor (but Lessor shall not be required to), appropriate and apply any portion of said deposit to said sums. Lessor and Lessee acknowledge and agree that the aforementioned deposit and rights of Lessor to appropriate same are not Lessor’s sole remedy against Lessee for the performance of Lessee’s obligations obligation hereunder, said Letter . Such remedy and the remedies set forth in the remainder of Credit, or so much thereof as has this paragraph shall not theretofore been applied by Lessor, shall be released from deemed to be the terms and conditions exclusive remedies for Lessee’s breach of this Lease but shall be in addition to all other remedies available at law or equity to Lessor. Should Lessee comply with all of the terms , covenants and conditions and promptly pay all of the rental herein provided as due, and all other sums payable to Lessee within sixty (60) days after expiration to Lessor hereunder, the said deposit shall be returned in full to Lessee at the end of the term hereof, and after Lessee has vacated the Premisesof this Lease.

Appears in 1 contract

Samples: Commercial Lease Contract

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $2,500.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, . Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore therefore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest herunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Sublease (Spectrian Corp /Ca/)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $4,267.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If if Lessor calls upon the Letter SO uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Entech Environmental Technologies Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $ None as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Microtel International Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $4,000 transferred from former lease as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Alpha Technologies Group Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.10 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.7 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Combichem Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, Two Thousand Five Hundred Twenty and No/100 ($2,520.00) as security for Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply, or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor’s option, to the last assignee, if any, of Lessee’s interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises.. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. Initials Standard Industrial Lease - Multi Tenant Page 4

Appears in 1 contract

Samples: Fourth Amendment to Lease (Drone USA Inc.)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $NONE as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent, shall from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has ahs vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Services Agreement (99 Cents Only Store)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $4,500.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Credit, deposit or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, hereof and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Rosetta Inpharmatics Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails falls to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the Initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or of her increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, it any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Icx Electronics Inc)

Security Deposit. Notwithstanding anything to the contrary contained in the Lease, Lessee hereby waives the provisions of Paragraph 1950.7 of the California Civil Code and all other provisions of law, now or hereafter in effect, which provide that Lessor may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Lessee or to clean the Premises, it being agreed that Lessor may, in addition, claim those sums reasonably necessary to compensate Lessor for any other loss or damage, foreseeable or unforeseeable, caused by the acts or omissions of Lessee or any officer, employee, agent, contractor or invitee of Lessee. Notwithstanding anything to the contrary contained in this Lease, Lessee acknowledges that no portion of the Security Deposit shall deposit with Lessor upon execution hereof be used for the Letter of Credit as identified in Addendum One, as last month's Base Rent but shall be security for Lessee’s 's faithful and timely performance of Lessee’s obligations hereunderthe terms and provisions of the Lease. If Lessee fails to timely pay rent the last month's Base Rent on or other charges due hereunderprior to the first of such month, or otherwise defaults with respect to any provision then Lessee hereby agrees (i) that such failure shall accelerate the expiration date of this Leasethe Lease by one month, Lessor may call upon the Letter of Credit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, (ii) that Lessee shall within ten be deemed to be holding over under the Lease during what otherwise would have been the last month of the Lease Term and (10iii) days after written demand therefore from Lessor, restore the Letter of Credit that Lessee shall be subject to the full amount required under provisions of Paragraph 54 above commencing during what otherwise would have been the terms stated in this Lease and Lessee’s failure to do so shall be a material breach of this Lease. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions of this Lease to Lessee within sixty (60) days after expiration last month of the term hereof, Lease Term and after Lessee has vacated the Premisescontinuing thereafter.

Appears in 1 contract

Samples: uWink, Inc.

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, sum or Thirteen Thousand One Hundred Thirty-Eight and 50/100 Dollars ($13,138.50) as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, hereunder or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default default, or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore therefore been applied by Lessor, shall be released from returned, without payment of interest or other increment for its use, to Lessee (or at Lessor:_Lessee:_ Lessor's option, to the terms and conditions last assignee, if any, of Lessee's interest hereunder) at the expiration of the initial five (5) year term of this Lease in the event Lessee has not exercised its option to Lessee within sixty (60) days after expiration of extend the term hereofof this Lease, and after Lessee has vacated the Premises. In the event Lessee has not exercised its option to extend the term of this Lease, such security deposit shall be applied as a credit towards the security deposit owed by Lessee under the extended term of this Lease. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Assignment and Assumption of Agreement (Biomarin Pharmaceutical Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $13,333.33 as security for Lessee’s faithful Lessxx'x xaithful performance of Lessee’s obligations Lessxx'x xbligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s defaultLessxx'x xefault, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in Paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs Lessxx xxxforms all of Lessee’s obligations Lessxx'x xbligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, or Lessxx'x xnterest hereunder) days after at the expiration of the term hereof, and after Lessee has Lessxx xxx vacated the Premises, providing Lessxx xxx advised Lessxx xx writing of where and to whom said security deposit funds shall be forwarded. No trust relationship is created herein between Lessxx xxx Lessxx xxxh respect to said Security Deposit.

Appears in 1 contract

Samples: Tenant Lease (Kensey Nash Corp)

Security Deposit. Lessee 5.1 Upon execution of this Lease Tenant shall deposit $42,480 with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, as initial security for Lessee’s Tenant's faithful performance of Lessee’s Tenant's obligations hereunderunder this Lease. If Lessee Tenant fails to pay rent or other charges amount due hereunder, under this Lease or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s Tenant's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall Tenant shall, within ten (10) fifteen days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease hereinabove stated, and Lessee’s Tenant's failure to do so shall be a material breach of this Lease. If Lessee Tenant performs all of Lessee’s Tenant's obligations hereunderunder this Lease, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from returned to Tenant (or, at Lessor's option, to the terms and conditions last assignee, if any, of Tenant's interest under this Lease to Lessee within sixty (60Lease) days after Tenant has vacated the Premises at the expiration of the term hereof, term. No trust relationship is created herein between Lessor and after Lessee has vacated Tenant with respect to the Premisessecurity deposit. Lessor may commingle the security deposit with other funds of Lessor. Lessor shall not be obligated to pay any interest to Tenant in connection with the said security deposit.

Appears in 1 contract

Samples: Sycamore Park Convalescent Hospital

Security Deposit. Lessee shall does hereby deposit with Lessor upon execution hereof the Letter sum of Credit Nine Thousand Six Hundred Eight and 11/100s dollars ($9,608.11) as identified in Addendum One, a security deposit which shall be held by Lessor as security for Lessee’s the full and faithful performance by Lessee of each and every covenant and obligation of Lessee under this Lease. It is hereby explicitly understood and agreed that this security deposit is neither an advance deposit of rental nor a measure of Lessor's damages in case of any default by Lessee and that Lessor shall have no obligation to Lessee to pay any interest upon this security deposit nor to maintain this security deposit separate from Lessor's general funds. If any rental herein reserved or any other charges or sums payable by Lessee to Lessor are overdue and unpaid or if Lessor makes payments on behalf of Lessee’s obligations hereunder. If , or if Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to perform any provision of the terms of this Lease, then in any such event Lessor may, at its option, from time to time, and without prejudice to any other remedy which Lessor may call upon have against Lessee, appropriate and apply the Letter of Credit for security deposit toward the payment of any rent the rents, charges or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of sums due from Lessee’s default, or toward any loss, damage or expense sustained by Lessor and resulting from or in connection with such default on the part of Lessee (but only to compensate Lessor for any loss the extent of such rents, charges, other sums, loss, damage or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein expense); and receive payment there from, in such event Lessee shall within ten (10) days after written forthwith upon demand therefore from Lessor, pay to Lessor the amount required to restore the Letter of Credit security deposit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach original sum deposited. After termination of this Lease. If Lessee performs , surrender of the Premises by Lessee, and satisfaction of all of Lessee’s 's obligations hereunder, said Letter the balance of Credit, or so much thereof as has not theretofore been applied the security deposit held by Lessor, if any, shall be released from the terms and conditions of this Lease promptly returned by Lessor to Lessee within sixty (60) days after expiration of the term hereof, and after Lessee has vacated the Premiseswithout interest.

Appears in 1 contract

Samples: Lease (Somera Communications Inc)

Security Deposit. Lessor acknowledges deposit by Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $96,250 as security for Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Leaselease, Lessor may call upon the Letter of Credit use, apply or retain all or any portion or said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms herein above stated in this Lease and Lessee’s failure to do so shall be a material breach of or this Lease. If the monthly rent shall, from time to time, increase during the term or this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor’s option, to the last assignee, if any, or Lessee’s interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: TUTOR PERINI Corp

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $2,900.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision provisions of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the originally monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, hereunder said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for it use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Coyote Sports Inc

Security Deposit. Concurrently with the Lessee's execution of this Lease, the Lessee shall deposit with the Lessor upon execution hereof the Letter sum specified in item 8 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s the faithful performance by the Lessee of Lessee’s obligations hereunderall covenants and conditions of this Lease. If the Lessee fails to pay rent shall breach or other charges due hereunder, default in the performance of any covenants or otherwise defaults with respect to any provision conditions of this Lease, including the payment of rent, the Lessor may call upon use, apply or retain the Letter whole or any part of Credit such security deposit for the payment of any rent or other charge in default or for the payment of any other sum to which the Lessor may become obligated spend or be required to spend by reason of the Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If the Lessor calls upon so uses or applies all or any portion of said deposit, the Letter of Credit as provided for herein and receive payment there fromLessee shall, Lessee shall within ten (10) days after written demand therefore from Lessortherefor, deposit cash with the Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under herein above stated and the terms stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If Should the Lessee performs comply with all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms covenants and conditions of this Lease Lease, the security deposit or any balance thereof shall be returned to the Lessee within sixty (60or at the option of the Lessor, to the last assignee of the Lessee's interest in this Lease) days after at the expiration of the term hereof, term. The Lessee shall not be entitled to interest on the security deposit and after Lessee has vacated the Lessor shall have the right to commingle said security deposit with other funds of the Lessor. Should the Lessor sell its interest in the Premises, the Lessor may transfer to the purchaser thereof the then unexpended or unappropriated deposit and thereupon the Lessor shall be discharged from any liability for such funds.

Appears in 1 contract

Samples: Lease (Computer Motion Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $25,000 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lithia Motors Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $1,843.20 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Qad Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $16,683.23 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of the any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be in a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) within sixty thirty (6030) days after of the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Wyman Plaza (Tsi International Software LTD)

Security Deposit. Concurrent with Lessee's execution of this Lease, Lessee shall deposit with Lessor upon execution hereof ax x xxcurity deposit the Letter of Credit as identified sum specified in Addendum OneParagraph 1.5 above (the "Deposit"). On May 1, 1998 and May 1, 2003 (unless the Lease is terminated or the Option is not exercised, as the case may be) Lessee shall increase the Deposit to that amount which is equal to the newly established monthly rental. The Deposit shall be held by Lessor as a security deposit for Lessee’s the faithful performance by Lessee xx xxx terms, covenants, and conditions of Lessee’s obligations hereunderthis Lease to be kxxx xxd performed by Lessee during the Term. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision provixxxxx of this Lease, including but not limited to the provisions relating to the payment of rent and any of the monetary sums due hereunder, Lessor may call upon (but shall not be required to) use, apply or retain any part or all of the Letter of Credit Deposit for the payment of any rent or other charge in default or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee’s default, 's default or to compensate Lessor for any loss or damage which Lessor may suffer therebyby reason of Lessee's default. If Lessor calls upon any portion of the Letter of Credit as provided for herein and receive payment there fromDeposit is so used or applied, Lessee shall shall, within ten (10) 10 days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit Deposit to the full amount required under the terms stated in this Lease and its original amount; Lessee’s 's failure to do so shall be a material breach of this Lease. Xxxxxx shall not be required to keep the Deposit separate from its general funds, and Lessee shall not be entitled to interest on the Deposit. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to be performed by it, the Deposit or any balance thereof shall be returned to Lessee within sixty (60or, at Lessor's option, to the last assignee of Lessee's interests hereunder) days after at the expiration of the term hereof, Term and after Lessee aftex Xxxxee has vacated the Premises. In the event of termination of Lessxx'x xnterest in this Lease, Lessor shall transfer the Deposit tx Xxxxor's successor in interest, whereupon Lessee agrees to release Lxxxxx from all liability for the return of xxx Xeposit or the accounting therefor.

Appears in 1 contract

Samples: Xoma Corp /De/

Security Deposit. Concurrently with Lessee’s execution of this Lease, Lessee shall deposit with Lessor upon execution hereof the Letter sum specified in Item 8 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunder. all covenants and conditions of this Lease* If Lessee fails to pay rent shall breach or other charges due hereunder, default in the performance of any covenants or otherwise defaults with respect to any provision conditions of this Lease, including the payment of rent, Lessor may call upon use, apply or retain the Letter whole or any part of Credit such security deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated spend or be required to spend by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit. Lessee shall, Lessee shall within ten (10) days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s failure to do so shall be a material breach of this Lease. If Should Lessee performs comply with all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms covenants and conditions of this Lease Lease, the security deposit or any balance thereof shall be returned to Lessee within sixty (60or at the option of Lessor, to the last assignee of Lessee’s interest in this Lease) days after at the expiration of the term hereof, term. Lessee shall not be entitled to interest on the security deposit and after Lessee has vacated Lessor shall have the right to commingle said security deposit with other funds of Lessor. Should Lessor sell its interest in the Premises; Lessor may transfer to the purchaser thereof the then unexpended or unappropriated deposit and thereupon Lessor shall be discharged from any further liability for such funds. *pursuant to the conditions set forth in Addendum 4 hereof (See Addendum 4).

Appears in 1 contract

Samples: Lease (Inamed Corp)

AutoNDA by SimpleDocs

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter sum of Credit as identified in Addendum One, [one month's rent] as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s defaultall, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter portion, of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall shall, within ten (10) days after written demand therefore from Lessordemand, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms stated in this Lease and hereinabove stated. Lessee’s 's failure to do so shall be a material breach of this Lease, and Lessor may, at his, or her, option, terminate this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Credit, deposit or so much thereof as has had not theretofore been applied by Lessor, Lessor shall be released from returned without payment of interest for its use, to Lessee, (or, at Lessor's option, to the terms and conditions last assignee, if any, of this Lease to Lessee Lessee's interest hereunder) within sixty ten (6010) days after the expiration of the term hereof, and or after Lessee has vacated the Premises, whichever is later.

Appears in 1 contract

Samples: Lease

Security Deposit. Section 23.01: Pursuant to Section 3.01 hereof, Lessee shall deposit with the sum of Seven Thousand Five Hundred Dollars ($7,500.00 ) which Lessor upon execution hereof the Letter of Credit as identified in Addendum One, agrees to retain as security for Lessee’s the faithful performance of all of the covenants, conditions, and agreements of this Lease, but in no event shall the Lessor be obliged to apply the same upon rents or other charges in arrears, or upon damages for the Lessee’s obligations hereunder's failure to perform the said covenants, conditions, and agreements; the Lessor may so apply the security at its option; and the Lessor's right to the possession of the Premises for nonpayment of rent or for any other reason shall not in any event be affected by reason of the fact that the Lessor holds this security. If Lessee fails to pay The said sum, if not applied toward the payment of rent or other charges due hereunderin arrears, or otherwise defaults with respect to any provision toward the payment of damages suffered by Lessor by reason of the Lessee's breach of the covenants, conditions, and agreements of this Lease, Lessor may call upon the Letter of Credit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit be returned to the full amount required under the terms stated in Lessee when this Lease and Lessee’s failure is terminated, according to do so shall be a material breach of this Lease. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions of this Lease to Lessee within sixty (60) days after expiration of the term hereofthese terms, and after in no event is the said security to be returned until the Lessee has vacated the Premises, delivered possession to the Lessor, and Lessor has inspected said Premises. In the event that the Lessor repossesses itself of the said Premises because of the Lessee's default or because of the Lessee's failure to carry out the covenants, conditions, and agreements of the Lease, the Lessor may apply the said security upon all damages suffered to the date of said repossession and may retain the said security to apply upon such damages as may be suffered or shall accrue thereafter by reason of the Lessee's default or breach. The Lessor shall not be obliged to keep the said security as a separate fund, but may mix the said security with its own funds and there shall be paid no interest on said security deposit.

Appears in 1 contract

Samples: Lease Agreement (Genomic Solutions Inc)

Security Deposit. 5. Lessee shall deposit has deposited with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $_______as security for Lessee’s the full and faithful performance of Lessee’s obligations hereundereach and every term, provision, covenant and condition of this Lease. If In the event Lessee fails to pay rent defaults in respect of any of the terms, provisions, covenants or other charges due hereunder, or otherwise defaults with respect to any provision conditions of this Lease, including, but not limited to the payment of rent, Lessor may call upon use, apply or retain the Letter whole or any part of Credit such security as necessary for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated spend or be required to spend by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon uses any portion of the Letter of Credit as provided for herein and receive payment there fromsecurity deposit to cure any default by Lessee hereunder, Lessee shall replenish the security deposit to the original amount within ten (10) days of written notice from Lessor. Lessee's failure to do so shall constitute a material breach of this Lease as well as an "Event of Default". Should no default exist as of the expiration of the term of this Lease, the security or any balance thereof shall be returned to Lessee or, at the option of Lessor, to the last assignee of Lessee's interest in this Lease within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach of this Lease. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions of this Lease to Lessee within sixty (60) days after expiration of the term hereof, and hereof or after Lessee has vacated the Premises, whichever is later. Lessee shall not be entitled to any interest on said security deposit. Lessor shall not be required to keep the aforesaid deposit in a separate account but may commingle said funds with Lessor's other accounts.

Appears in 1 contract

Samples: Attornment Agreement (Mobileiron, Inc.)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $15,000.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Advanced Aerodynamics & Structures Inc/

Security Deposit. To assure fulfillment of the covenants by Lessee hereinafter set forth, Lessor hereby acknowledges receipt from the Lessee of THIRTY-SEVEN THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($37,500.00) as a security deposit to be held by the Lessor until such time as this Agreement has terminated, Lessee has vacated the Leased Premises, and Lessor has inspected the same. Until such time, Lessor shall have no obligation to apply the security deposit with to any unpaid amount due Lessor upon execution hereof the Letter of Credit as identified in Addendum One, as security for from Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunderhas performed and observed all terms, or otherwise defaults with respect to any provision covenants and conditions of this LeaseAgreement, Lessor may call upon the Letter of Credit for including without limitation, the payment of all rentals thereunder, as and when same become due, Lessor shall refund said security deposit to Lessee, less such amounts as may be reasonably chargeable for any rent failure by Lessee to restore the Leased Premises to the condition at time of occupancy, reasonable wear and tear excepted. Lessee's duty to restore the Leased Premises shall include, but not be limited to, the repair and painting of the walls, repair of floors, ceilings and woodwork and other parts of the Leased Premises occasioned by the removal of nails, screws or other charge in default fasteners that are now on the Leased Premises or for may be placed there during the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach term of this Lease. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, Under no circumstances shall this security deposit be released deducted from the terms and conditions of this Lease to Lessee within sixty (60) days after expiration of the term hereof, and after Lessee has vacated the Premiseslast month's rent.

Appears in 1 contract

Samples: Lease (Prestolite Electric Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum OneIn addition to said rent, as security for Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails Xxxxxx agrees to pay rent or other charges due hereunderthe sum of $ 200.00 herewith as a security deposit. Said deposit is Xxxxxx's proof to Xxxxxx of his intention to occupy the apartment and faithfully fulfill the terms of the lease. Should Lessee fail to occupy the apartment and/or fail to fulfill the Lease by reason of any default, or otherwise defaults with respect to any provision said security deposit shall be forfeited and retained by Lessor. At the expiration of this Lease, said security deposit shall be applied as Lessor may call upon deems reasonably necessary (1) for the Letter cleaning of Credit the demised premises and the items listed in any inventory attached hereto as part of this lease no less than $ -0- ; (2) for the repair of any damages to the demised premises, yard, fixtures, furnishings, or the items listed in said inventory, reasonable wear and tear excepted; and (3) for the payment of any rent or other charge in default or for the payment of any other sum to amount which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein is due and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit to the full amount required payable under the terms stated in of this Lease lease, including, but not limited to, rent and Lessee’s failure late charges. After Xxxxxx's determination of the amount reasonably necessary to do so accomplish the aforesaid, the remainder of the security deposit, if any, shall be returned to Lessee by mailing it to him at his forwarding address without interest within 45 days of his vacating the demised premises. If Lessee does not provide Lessor with a material breach forwarding address and Lessor cannot locate Lessee upon reasonable search and inquiry, Xxxxxx will be deemed to have forfeited said remaining security deposit to Lessor. Retention of the security deposit by Lessor shall not prevent Lessor from recovering additional damages. The terms of the security deposit agreement are expressly made a part of this Lease. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions of this Lease to Lessee within sixty (60) days after expiration of the term hereof, and after Lessee has vacated the Premises.

Appears in 1 contract

Samples: Apartment Lease Contract

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.11 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment or offset of any rent or other charge in default or default, for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. As the terms stated in this Lease monthly base rent shall increase at the commencement of the First Extended Term, Second Extended Term and Lessee’s failure to do so shall be a material breach Third Extended Term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall equal three (3) months of the then monthly base rent. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said security deposit.

Appears in 1 contract

Samples: Lease Acceptance Agreement (Coast Bancorp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $106,400 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions of this Lease returned to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease (Leiner Health Products Inc)

Security Deposit. In conjunction with the execution of this Lease Agreement, Lessee shall deliver a security deposit with in the amount of Twenty Nine Thousand Six Hundred Fourteen and 66/100 Dollars ($29,614.66); provided, however, Lessor upon execution hereof shall credit Lessee Fourteen Thousand Eight Hundred Seven and 33/100 Dollars ($14,807.33) against the Letter Base Rent for the thirteenth (13th) month following the Commencement Date. Upon the occurrence of Credit any Event of Default (as identified in Addendum Onehereinafter defined) by Lessee, as security for Lessee’s faithful performance of Lessee’s obligations hereunder. If Lessee fails Lessor may, from time to pay rent or other charges due hereundertime, or otherwise defaults with respect without prejudice to any provision other remedy, use the security deposit paid to Lessor by Lessee as herein provided to the extent necessary to make good any arrears of Rent (as hereinafter defined) and any other actual damage, injury, expense or liability caused to Lessor by such Event of Default. Following any such application of the security deposit, Lessee shall pay to Lessor on demand the amount so applied in order to restore the security deposit to the amount thereof existing prior to such application. Any remaining balance of the security deposit shall be returned by Lessor to Lessee within thirty (30) days after the termination of this LeaseLease Agreement provided, however, Lessor may call upon shall have the Letter of Credit for the payment of any rent or other charge in default or for the payment of any other sum right to which Lessor may become obligated by reason of Lessee’s default, or retain and expend such remaining balance (a) to compensate reimburse Lessor for any loss and all rentals or damage which Lessor may suffer thereby. If Lessor calls upon other sums due hereunder that have not been paid in full by Lessee and/or (b) for cleaning and repairing the Letter of Credit as provided for herein and receive payment there from, Leased Premises if Lessee shall within ten (10) days after written demand therefore from Lessor, restore fail to deliver same at the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach of this Lease. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions termination of this Lease Agreement in a neat and clean condition and in as good a condition as existed at the date of possession of same by Lessee, ordinary wear and tear only excepted. Lessee shall not be entitled to Lessee within sixty (60) days after expiration any interest on the security deposit. Such security deposit shall not be considered an advance payment of the term hereof, and after Lessee has vacated the Premisesrental or a measure of Lessor’s damages in case of an Event of Default by Lessee.

Appears in 1 contract

Samples: Lease Agreement (Kiromic Biopharma, Inc.)

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof the Letter sum of Credit as identified in Addendum One, One Thousand Four Hundred Thirty Five Dollars and 50/100 ($1,435.50). Said sum shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunderall the terms, covenants, and conditions of this Lease to be kept and performed by Lessee during the term hereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Leaselease, including, but not limited to the provisions relating to the payment of rent, Lessor may call upon the Letter (but shall not be required to) use, apply or retain all or any part of Credit this security deposit for the payment of any rent or any other charge sum in default default, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee’s 's default, or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee's default. If Lessor calls upon the Letter any portion of Credit as provided for herein and receive payment there fromsaid deposit is so used or applied, Lessee shall within ten five (105) days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit security deposit to the full its original amount required under the terms stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep this security deposit separate from its general funds, and Lessee shall not be entitled to interest on such deposit. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Lessee within sixty (60or, at Lessor's option, to the last assignee of Lessee's interest here_____) days after at the expiration of the term hereof, and after Lessee has vacated the Premises.the

Appears in 1 contract

Samples: Organic Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $7,908.75 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lease Agreement (Avenue Group Inc)

Security Deposit. Lessee shall has on deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $12,322.72 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for if the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof, lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, Lessor's option, to the last assignee, if any, of Lessee's Interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. NO trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Earth & Ocean Sports Inc

Security Deposit. Lessee shall deposit has deposited with Lessor upon execution hereof a Security Deposit as set forth on the Letter of Credit as identified in Addendum One, BLI (the "Deposit"). The Deposit shall be held by Lessor as security for Lessee’s the faithful performance by Lessee of all the provisions of this Lease to be performed or observed by Lessee’s obligations hereunder. If Lessee fails to pay rent Base Rent, Additional Rent, or other charges due hereunder, or an Event of Default otherwise defaults occurs with respect to any provision of this Leaselease, Lessor may call upon use, apply, or retain all or any portion of the Letter of Credit Deposit for the payment of any rent such Base Rent, Additional Rent, or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, 's Event of Default or for compensation to compensate Lessor for any loss loss, expense, or damage which Lessor may suffer thereby. If Lessor calls upon so uses or applies all or any portion of the Letter of Credit as provided for herein and receive payment there fromDeposit, Lessee shall shall, within ten (10) days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit Deposit to the full amount required under the terms stated in this Lease thereof and Lessee’s 's failure to do so shall be a material breach of this Lease. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditthe Deposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned without payment of this Lease interest or other increment for its use to Lessee within sixty (60) days after at the expiration of the term hereof, and Lease Term after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to the Deposit, and Lessor shall not be required to keep the Deposit separate from its general accounts.

Appears in 1 contract

Samples: Atlanta Merchandise Mart Lease Agreement (Ambassadors International Inc)

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

Appears in 1 contract

Samples: Master Graphics Inc

Security Deposit. Lessee shall deposit with Lessor lessor upon execution hereof the Letter of Credit as identified in Addendum One, $96,250.00 as security for LesseeLessor’s faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the originals monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor’s option, to the last assignee, if any, of Lessee’s interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: The Lease Agreement (TUTOR PERINI Corp)

Security Deposit. Lessee shall, prior to the commencement of this Rental Agreement, deposit the sum of $ as and for a security deposit. Said deposit shall deposit be held by Lessor, with Lessor upon execution hereof the Letter right of Credit as identified in Addendum Onecomminglement and use, without liability for interest or duty to render accounting as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunderall terms, covenants and conditions of this Rental Agreement. If Lessee fails to pay rent or other charges due hereunderkeep and perform any of the terms, covenants and conditions of this Rental Agreement, then Lessor, at its option, may apply said deposit, or otherwise defaults with respect to any provision of this Leaseso much thereof as may be necessary, Lessor may call upon the Letter of Credit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which sustained or suffered by Lessor may suffer therebydue to such breach on the part of Lessee. If Lessor calls upon Should the Letter of Credit as provided for herein and receive payment there fromentire deposit, or any portion thereof, be so applied by Lessor, the Lessee shall within ten (10) days after written demand therefore from upon Lessor’s demand, forthwith remit to Lessor a sufficient sum to restore the Letter of Credit said security to the full amount required under the terms stated in this Lease original sum deposited, and Lessee’s failure to do so within five (5) calendar days after receipt of such demand shall be constitute a material breach of this LeaseRental Agreement. If Security deposit will be kept by Lessor on 6-month contract in the event guest does not remain renting for a minimum of 6- months. Security deposit will be forfeited in the event that proper notice of 30-days is not given. Should Lessee performs comply with all of Lessee’s obligations said terms, covenants and conditions and promptly pay all of the rents herein provided for as they fall due, and all other sums payable by Lessee to Lessor hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, deposit shall be released from the terms and conditions of this Lease returned in full to Lessee within sixty (60) days a reasonable time after expiration Lessee’s vacating of the term hereof, and after Lessee has vacated the Premisespremises.

Appears in 1 contract

Samples: Rental Agreement

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten then (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Flycast Communications Corp)

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

Appears in 1 contract

Samples: For Lease Agreement (Golden West Brewing Company, Inc.)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $11,760 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If It Lessee fails to lo pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there from, said deposit. Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease (Solpower Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $4,170.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this LeaseLese, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the he payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Industrial Lease (Rosetta Inpharmatics Inc)

Security Deposit. Lessee shall (c) It is agreed that Lessee, at the time of execution of this Lease, has deposited with the Lessor, and will keep on deposit with Lessor upon execution hereof at all times during the Letter term and any extended term of Credit as identified in Addendum Onethis Lease, the sum of Zero and 00/100 Dollars ($0.00) as security for Lessee’s the full and faithful performance of every provision of this Lease to be performed by Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of rent, Lessor may call upon the Letter may, if such default is not corrected within five (5) days of Credit written notice from Lessor, use, apply or retain all or any part of this security deposit for the payment of any rent or other charge any sum, in default default, or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason reasons of Lessee’s default, 's default or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee's default. If Lessor calls upon the Letter any portion of Credit as provided for herein and receive payment there fromsaid deposit is so used or applied, Lessee shall within ten five (105) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit security deposit to the full its original amount required under the terms stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. Said deposit shall not be considered as liquidated damages and if claims of Lessor exceed said deposit, Lessee shall remain liable for the balance of such claims. The Lessor shall not be required to keep this security deposit separate from its general funds and Lessee shall not be entitled to interest on such deposit. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof shall be returned to Lessee within sixty (60) days after (or, at Lessor's option, to the last assignee of Lessee's interest hereunder) of the expiration of the Lease term hereof, and after Lessee has vacated upon Lessee's vacation of the Premises. In the event of termination of Lessor's interest in this Lease, Lessor shall transfer said deposit to Lessor's successor in interest, whereupon, Lessee agrees to release Lessor from liability for the return of such deposit or the accounting therefor.

Appears in 1 contract

Samples: Office Lease (Capital Reserve Corp)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $97,200.00 as security for Lessee’s Xxxxxx's faithful performance of Lessee’s Xxxxxx's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s Xxxxxx's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s Xxxxxx's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee Xxxxxx performs all of Lessee’s Xxxxxx's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Xxxxxx's interest hereunder) days after at the expiration of the term hereof, and after Lessee Xxxxxx has vacated the Premises. No trust relationship is created herein between Xxxxxx and Xxxxxx with respect to said Security Deposit. See Addendum #5.

Appears in 1 contract

Samples: Specialty Laboratories

Security Deposit. Lessee The Lessor shall continue to hold Lessee’s security/damage deposit with for Suite 201 as a Security/Damage Deposit for this Lease. This amount is due prior to taking occupancy of the premises by Lessee. Said sum shall be held by Lessor upon execution hereof the Letter of Credit as identified in Addendum One, as security for Lessee’s the faithful performance by Lessee of Lessee’s obligations hereunderall terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, including, but not limited to, the provisions relating to the payment of rent, Lessor may call upon the Letter (but shall not be required to) use, apply or retain all or any part of Credit this security deposit for the payment of any rent or any other charge sum in default default, or for the payment of Of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee’s default, or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee’s default. If Lessor calls upon the Letter any portion of Credit as provided for herein and receive payment there fromsaid deposit is so used or applied, Lessee shall within ten five (105) days after written demand therefore from Lessortherefore, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit security deposit to the full its original amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach breath of this Lease. Lessor shall not be required to keep this security deposit separate from the general funds, and Lessee shall not be entitled to interest on such deposit. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to Lessee within sixty be performed by it, the security deposit or any balance thereof shall be returned to Tenant (60or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) days after at the expiration of the term hereofLease term. In the event of termination of Lessor’s interest in this Lease, and after Lessee has vacated the PremisesLessor shall transfer said deposit to Lessor’s successor in interest.

Appears in 1 contract

Samples: Office Lease (Gabriel Technologies Corp)

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

Appears in 1 contract

Samples: Optical Access Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interests hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Scheid Vineyards Inc)

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

Appears in 1 contract

Samples: Coyote Sports Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $9,800.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If Lessee performs all of Lessee’s obligations hereunderthe monthly rent shall, said Letter of Creditfrom time to time, or so much thereof as has not theretofore been applied by Lessor, shall be released from increase during the terms and conditions term of this Lease Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to Lessee within sixty (60) days after expiration of current rent as the term hereof, and after Lessee has vacated original security deposit bears to the Premises.original monthly rent set forth

Appears in 1 contract

Samples: Spectratek Technologies Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof a cash security deposit in the Letter amount of Credit as identified in Addendum One, Three Million Dollars ($3,000,000.00) as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails defaults, pursuant to pay rent or other charges due hereunderSection 16 hereof, or otherwise defaults with respect to any provision after the expiration of this Lease, all applicable cure periods. Lessor may call upon the Letter (but shall not be required to) use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under the terms stated in this Lease and of Lessee’s failure . Lessor shall not be required to do so shall be a material breach of this Leasekeep said security deposit separate from lt general accounts. If Lessee performs all of the Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit, and under no circumstances shall Lessor be required to keep the Security Deposit separate from its other funds or in an interest-bearing account, nor shall Lessee be entitled to any interest on such amounts regardless of whether or not the Security Deposit is deposited in an interest-bearing account. In the event that the option in paragraph 23 is exercised, then any unused Security Deposit will be returned to Lessee upon the closing.

Appears in 1 contract

Samples: Master Ground Lease (Speedway Motorsports Inc)

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

Appears in 1 contract

Samples: Pac-West Telecomm Inc

Security Deposit. Concurrently with Lessee's execution of this Lease, Lessee shall deposit with Landlord a security deposit of N/A ( N/A ). Said sum shall be held by Lessor upon execution hereof as a Security Deposit for the Letter of Credit as identified in Addendum One, as security for Lessee’s faithful performance by Lessee of Lessee’s obligations all of the terms, covenants, and conditions of this Lease to be kept and performed by Lessee hereunder, throughout the entire term of this Lease. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision provisions of this Lease, Lessor may call upon including but not limited to the Letter of Credit for provisions relating to the payment of rent and any of the monetary sums due herewith, Lessor may (but shall not be required to) apply the Security Deposit towards the past due rent or other charge in default charges; or, Lessor may use, apply or retain all or any part of this Security Deposit for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee’s default, 's default or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reason of Lessee's default. If Lessor calls upon the Letter any portion of Credit as provided for herein and receive payment there fromsaid Deposit is so used or applied, Lessee shall shall, within ten (10) days after written demand therefore from Lessortherefor, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit Security Deposit to the full amount required under the terms stated in this Lease and its original amount. Lessee’s 's failure to do so shall be a material breach of this Lease. Lessor shall not be required to keep this Security Deposit separate from its general funds, and Lessee shall not be entitled to interest on such Deposit. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to Lessee within sixty be performed by it, the Security Deposit or any balance thereof shall be returned to Lessee, (60or, at Lessor's option, to the last assignee of Lessee's interests hereunder) days after at the expiration of the Lease term hereof, and after Lessee has vacated the Premises. In the event of termination of Lessor's interest in this Lease, Lessor shall transfer said Deposit to Lessor's successor in interest, whereupon Lessee agrees to release Lessor from all liability for the return of such Deposit or the account therefor. Lessee shall not have the right to apply the Security Deposit in payment of the last month's rent.

Appears in 1 contract

Samples: Lease Agreement (Knology Holdings Inc /Ga)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $5120.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, . Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Lease (Specialty Laboratories)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum Onehereof, $1,000.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of to any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof, Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, with payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit. Lessee shall pay security deposit to Lessor no later than July 15, 1993.

Appears in 1 contract

Samples: Two Dog Net Inc

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease. Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Intellisys Group Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter security deposit set forth in paragraph 1.9 of Credit as identified in Addendum One, the Basic Lease Provisions as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly Base Rent shall, from time to do so shall be a material breach time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore heretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest obligations hereunder, said deposit, or so much thereof as has not heretofore been applied by Lessor, shall be returned, without payment of interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Office Lease (Smartflex Systems Inc)

Security Deposit. Concurrently with Lessee's execution of this Lease, Lessee shall deposit has deposited with Lessor upon execution hereof Lessor, the Letter sum of Credit FIFTEEN THOUSAND TWO HUNDRED SIXTY-FOUR & 15/100 DOLLARS ($15,264.15) as identified in Addendum One, as a security for Lessee’s faithful performance of Lessee’s obligations hereunderdeposit. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision provisions of this Lease, including but not limited to the provisions relating to payment of rent or other charges, Lessor may call upon may, to the Letter extent reasonably necessary to remedy Lessee's default, use all or any part of Credit said deposit for the payment of any rent or other charge charges in default or for the payment of any other sum to amount which Lessor may spend or become obligated to spend by reason of Lessee’s default, 's default or to compensate Lessor for any other loss or damage which Lessor may suffer therebyby reasons of Lessee's default. If Lessor calls upon the Letter any portion of Credit as provided for herein and receive payment there fromsaid deposit is so used or applied, Lessee shall shall, within ten (10) days after written demand therefore from Lessortherefore, deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s failure shall pay to do so Lessor such other sums as shall be a material breach of this Leasenecessary to reimburse Lessor for any sums paid by Lessor. If Lessee performs all of Lessee’s obligations hereunder, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms fully and conditions faithfully perform every provision of this Lease to be performed by it, said deposit shall be returned to Lessee within sixty fifteen (6015) days after the expiration of the term Term or renewal Term if the Lease is extended pursuant to Paragraph 18 hereof. In the event of termination of Lessor's interest in this Lease, and after Lessee has vacated the PremisesLessor shall transfer said deposit to Lessor's successor in interest.

Appears in 1 contract

Samples: CyDex Pharmaceuticals, Inc.

Security Deposit. Lessee 6.1 Upon execution of this Lease, Xxxxxx shall deposit with Lessor upon execution hereof the Letter sum of Credit as identified in Addendum One$1,680.00, as security for Lessee’s the faithful performance of Lessee’s obligations hereunder. If Lessee fails to pay rent or other charges due hereunderthe Lease for all the terms, or otherwise defaults with respect to any provision covenants and conditions of this Lease, to be kept and performed by Xxxxxx during the term hereof. If at any time during the term of this Lease any of the rent herein required shall be overdue and unpaid, then the Lessor may call upon the Letter may, at Lessor's option, appropriate and apply any portion of Credit for said deposit to the payment of any such overdue rent or other charge in default or for sum. In the payment event of any other sum the failure of Lessee to which Lessor may become obligated by reason of Lessee’s default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter of Credit as provided for herein keep and receive payment there from, Lessee shall within ten (10) days after written demand therefore from Lessor, restore the Letter of Credit to the full amount required under the terms stated in this Lease and Lessee’s failure to do so shall be a material breach of this Lease. If Lessee performs perform all of Lessee’s obligations hereunderthe terms, said Letter of Credit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms covenants and conditions of this Lease to be kept and performed by Xxxxxx, then at the option of Lessor said Lessor may appropriate and apply so much of said deposit as may be necessary to compensate Lessor for all loss or damage sustained or suffered by Lessor due to such breach on the part of the Lessee. Should the entire deposit, or any portion thereof, be so apportioned and applied by Lessor for the payment of overdue rent or other sums due and payable to Lessor by Lessee hereunder, then Xxxxxx shall, upon written demand of Lessor, forthwith remit to Lessor a sufficient amount in cash to restore said security to the original security deposit. Xxxxxx's failure to do so within sixty thirty (6030) days after expiration receipt of such demand shall constitute a breach of this Lease. Should Lessee comply with all of the term hereofterms, covenants and conditions, and after promptly pay all of the rental herein provided for, as the same falls due, and all other sums payable by Lessee has vacated the Premisesto Lessor, said security deposit shall be repaid to Lessee upon termination of this Lease or any extension thereof.

Appears in 1 contract

Samples: Touchpoint Metrics, Inc.

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, (See Paragraph #49) as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to that last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Standard Industrial Lease (Xoma Corp /De/)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit Sixteen Thousand, Nine Hundred Eighty Six Dollars and 76/100 ($16,986.76); prepaid rent for month 1, Seven Thousand Four Hundred Forty Eight and 38/100 ($7,448.38) and Nine Thousand Five Hundred Thirty Eight and 38/100 ($9,538.38) as identified in Addendum One, as a security deposit for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Leaselease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any any, rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount then required under of Lessee. If the terms stated in this Lease and Lessee’s failure monthly rent shall from time to do so shall be a material breach time, increase during the term of this Leaselease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the then current base rent as the initial security deposit bears to the initial base rent. Lessor shall not be required to keep said security deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Credit, deposit or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premisespremises. No trust relationship is created herein between Lessor and Lessee and Lessee with respect to said security deposit.

Appears in 1 contract

Samples: Industrial Lease Agreement (Celebrateexpress Com Inc)

Security Deposit. Lessee shall deposit with Lessor upon execution hereof the Letter of Credit as identified in Addendum One, $7,243.00 as security for Lessee’s 's faithful performance of Lessee’s 's obligations hereunder. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may call upon the Letter use, apply or retain all or any portion of Credit said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which Lessor may become obligated by reason of Lessee’s 's default, or to compensate Lessor for any loss or damage which Lessor may suffer surfer thereby. If Lessor calls upon the Letter so uses or applies all or any portion of Credit as provided for herein and receive payment there fromsaid deposit, Lessee shall within ten (10) days after alter written demand therefore from Lessor, therefor deposit cash with Lessor in an amount sufficient to restore the Letter of Credit said deposit to the full amount required under the terms hereinabove stated in this Lease and Lessee’s 's failure to do so shall be a material breach of this Lease. If the monthly rent shall, from time to time, increase during the term of this Lease, Lessee shall thereupon deposit with Lessor additional security deposit so that the amount of security deposit held by Lessor shall at all times bear the same proportion to current rent as the original security deposit bears to the original monthly rent set forth in paragraph 4 hereof. Lessor shall not be required to keep said deposit separate from its general accounts. If Lessee performs all of Lessee’s 's obligations hereunder, said Letter of Creditdeposit, or so much thereof as has not theretofore been applied by Lessor, shall be released from the terms and conditions returned, without payment of this Lease interest or other increment for its use, to Lessee within sixty (60or, at Lessor's option, to the last assignee, if any, of Lessee's interest hereunder) days after at the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Microtel International Inc

Time is Money Join Law Insider Premium to draft better contracts faster.