Common use of Security Deposits; Prepaid Rents Clause in Contracts

Security Deposits; Prepaid Rents. Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in Seller's actual possession or control and have not been otherwise applied by Seller to any obligations of any Tenants under the Tenant Leases, shall be credited against the Purchase Price, and upon the Closing, Buyer shall assume full responsibility for all security deposits to be refunded to the Tenants under the Tenant Leases (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). In the event that any security deposits are in the form of letters of credit or other financial instruments (the "Non-Cash Security Deposits") Buyer shall have such financial instruments transferred after Closing. Seller will cooperate with Buyer after the Closing to have Buyer named as beneficiary under the Non-Cash Security Deposits; provided that such cooperation shall be at no cost or expense to Seller. Buyer will not receive a credit against the Purchase Price for such security deposits.

Security Deposits; Prepaid Rents. Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in Seller's ’s actual possession or control and have not been otherwise applied by Seller to any obligations of any Tenants under the Tenant Leases, shall be credited against the Purchase Price, and upon the Closing, Buyer shall assume full responsibility for all security deposits to be refunded to the Tenants under the Tenant Leases (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). In the event that any security deposits are in the form of letters of credit or other financial instruments (the "“Non-Cash Security Deposits") Buyer shall have such financial instruments transferred ”), after the Closing. , Seller will cooperate with Buyer after the Closing to have Buyer named as beneficiary under the Non-Cash Security Deposits; provided that such cooperation shall be at no cost or expense to Seller. Buyer will not receive a credit against the Purchase Price for such security depositsthe Non-Cash Security Deposits.

Security Deposits; Prepaid Rents. Prepaid rentals and other tenant Tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in Seller's ’s actual possession or control and have not been otherwise applied by Seller to any obligations of any Tenants under the Tenant Leases, shall be credited against the Purchase Price, and upon the Closing, Buyer shall assume full responsibility for all security deposits to be refunded to the Tenants under the Tenant Leases in the amounts credited to Buyer at Closing (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). In the event that any security deposits are in the form of letters of credit or other financial instruments (the "“Non-Cash Security Deposits") Buyer shall have such financial instruments transferred ”), after the Closing. , Seller will cooperate with Buyer after the Closing to have Buyer named as beneficiary under the Non-Cash Security Deposits; provided that such cooperation shall be at no cost or expense to Seller. Buyer will not receive a credit against the Purchase Price for such security the Non-Cash Security deposits.

Security Deposits; Prepaid Rents. Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in Seller's ’s actual possession or control and have not been otherwise applied by Seller to any obligations of any Tenants under the Tenant Leases, shall be credited against the Purchase Price, and upon the Closing, Buyer shall assume full responsibility for all security deposits to be refunded to the Tenants under the Tenant Leases (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). In the event that any security deposits are in the form of letters of credit or other financial instruments (the "“Non-Cash Security Deposits"”) Buyer shall have such financial instruments transferred after Closing. Seller will cooperate with Buyer after the Closing to have Buyer named as beneficiary under the Non-Cash Security Deposits; provided that such cooperation shall be at no cost or expense to Seller. Buyer will not receive a credit against the Purchase Price for such security deposits.

Security Deposits; Prepaid Rents. Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in Seller's actual possession or control and have not been otherwise applied by Seller to any obligations of any Tenants under pursuant to the terms of the Tenant Leases, shall be credited against the Purchase Price, and upon the Closing, Buyer shall assume full responsibility for all security deposits to be refunded to the Tenants under the Tenant Leases (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). In the event that any security deposits are in the form of letters of credit or other financial instruments (the "Non-Cash Security Deposits") Buyer shall have such financial instruments transferred ), after the Closing. , Seller will cooperate with be responsible to ensure that such Non-Cash Security Deposits are assigned to Buyer after the Closing to have and that Buyer is named as beneficiary under the Non-Cash Security Deposits; provided that such cooperation shall be at no Deposits without cost or expense to SellerBuyer. Buyer will not receive a credit against the Purchase Price for such security deposits.

Security Deposits; Prepaid Rents. Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in Seller's ’s actual possession or control (including, without limitation, the possession or control of Seller’s property management company) and have not been otherwise properly applied by Seller to any obligations of any Tenants under the Tenant Leases, shall be credited against the Purchase Price, and upon the Closing, Buyer shall assume full responsibility for all security deposits so credited and to be refunded to the Tenants under the Tenant Leases (to Leases, in the extent approximate amount, as of the same are required to be refunded by the terms Effective Date, of such Tenant Leases or applicable)$507,061.97. In the event that any security deposits are in the form of letters of credit or other financial instruments (the "“Non-Cash Security Deposits") Buyer shall have such financial instruments transferred ”), after the Closing. , Seller will cooperate with Buyer after the Closing to have Buyer named as beneficiary under the Non-Cash Security Deposits; provided that such cooperation shall Deposits or otherwise cause Buyer to be the beneficiary thereof, at no Buyer’s sole cost or expense to Seller. and expense, and so long as Buyer is and becomes the beneficiary thereof, Buyer will not receive a credit against the Purchase Price for such security depositsthe Non-Cash Security Deposits.