Security for Tenant's Performance Sample Clauses

Security for Tenant's Performance. (a) Simultaneously with the execution of this Agreement, Tenant shall deposit with Landlord the sum of $358,000 representing an amount equal to six and one-half (6 1/2) times the amount set forth on Exhibit A (the "Security Deposit"). Landlord may commingle the Security Deposit with other funds of Landlord. All interest, if any, earned on the Security Deposit shall be the sole property of Landlord and shall not be part of the Security Deposit. (b) Tenant acknowledges that the security deposits with respect to the Collective Leased Properties (collectively, the "Collective Security Deposit") constitute security for the faithful observance and performance by Tenant of all the terms, covenants and conditions of this Agreement and the Other Leases by Tenant to be observed and performed. If any Event of Default shall occur and be continuing under this Agreement, Landlord may, at its option (and with no obligation to do so) and without prejudice to any other remedy which Landlord may have on account thereof, appropriate and apply, first, the amount of the Security Deposit and, second, the amount of such Collective Security Deposit as may be necessary to compensate Landlord toward the payment of the Rent or other sums due Landlord under this Agreement as a result of such breach by Tenant, and any such appropriation and application of the Collective Security Deposit shall be ratable according to the respective amounts of such Collective Security Deposit. Additionally, Landlord may, if any Event of Default shall occur and be continuing under any of the Other Leases, appropriate and apply the Security Deposit (ratably with all other Collective Security Deposits other than the security deposit under the Other Lease that is in default) after first applying the security deposit under the Other Lease that is in default. It is understood and agreed that neither the Security Deposit nor the Collective Security Deposit is to be considered as prepaid rent, nor shall damages be limited to the amount of the Collective Security Deposit. Upon the expiration or sooner termination of this Agreement, any unapplied balance of the Security Deposit shall be paid by wire transfer to Tenant. Within ten (10) days after any draw upon the Security Deposit and/or the Collective Security Deposit, Landlord shall notify Tenant of the amount of such draw and the applicable Security Deposit drawn. In the event Landlord elects to use the Security Deposit to cure a default susceptible of cure by ...
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Security for Tenant's Performance. Tenant acknowledges that the Retained Funds with respect to the Collective Leased Properties constitute security for the faithful observance and performance by Tenant of all the terms, covenants and conditions of this Agreement and the Other Leases by Tenant to be observed and performed. If any Event of Default shall occur and be continuing under this Agreement or the Other Leases, Landlord may, at its option and without prejudice to any other remedy which Landlord may have on account thereof, appropriate and apply the amount of such Retained Funds as may be necessary to compensate Landlord toward the payment of the Rent or other sums due Landlord under this Agreement or the Other Leases, as the case may be, as a result of such breach by Tenant. It is understood and agreed that the aggregate amount of the Retained Funds is not to be considered as prepaid rent, nor shall damages be limited to the amount of the amount of the Retained Funds. Upon the expiration or sooner termination of this Agreement, any unapplied balance of the Retained Funds allocable to the Leased Property shall be paid by wire transfer to an account or accounts designated by the Sellers under the Purchase Agreement (or by Tenant if the Sellers so designate). Notwithstanding anything to the contrary contained herein, Landlord shall not appropriate and apply any portion of the Retained Funds until it has exhausted any available rights and remedies pursuant to the Limited Rent Guaranty.
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Security for Tenant's Performance. Tenant acknowledges that the Retained Funds (as defined in the Purchase Agreement) constitute security for the faithful observance and performance by Tenant of all the terms, covenants and conditions of this Agreement by Tenant to be observed and performed. If any Event of Default shall occur and be continuing, Landlord may, at its option and without prejudice to any other remedy which Landlord may have on account thereof, appropriate and apply the entire amount of the Retained Funds or so much thereof as may be necessary to compensate Landlord toward the payment of the Rent or other sums or loss or damage sustained by Landlord due to such breach by Tenant. It is understood and agreed that the amount of the Retained Funds is not to be considered as prepaid rent, nor shall damages be limited to the amount of the amount of the Retained Funds. Provided this Agreement shall not be terminated as a result of an Event of Default, the Retained Funds shall be paid as provided in the Purchase Agreement.
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Security for Tenant's Performance. Tenant shall grant to Landlord a security interest in all of the construction plans, specifications, purchase orders, agreements, work orders, permits and other rights and interests necessary to enable Landlord to complete any such work in the event Tenant defaults in any of its construction obligations. Landlord's lien shall be junior to the liens of Tenant's construction lender(s), if any. Tenant shall not otherwise pledge, encumber or transfer any such assets or rights.
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Security for Tenant's Performance. (a) Simultaneously with the execution of this Agreement, Tenant shall deposit with Landlord the sum of Five Hundred Fifty-Three Thousand Nine Hundred Fifty-Six Dollars ($553,956) (the "Security Deposit"). Landlord may commingle the Security Deposit with other funds of Landlord. All interest, if any, earned on the Security Deposit shall be the sole property of Landlord and shall not be part of the Security Deposit. (b) Tenant acknowledges that the Security Deposit constitutes security for the faithful observance and performance by Tenant of all the terms, covenants and conditions of this Agreement by Tenant to be observed and performed. If any Event of Default shall occur and be continuing under this Agreement, Landlord may, at its option and without prejudice to any other remedy which Landlord may have on account thereof, appropriate and apply the amount of the Security Deposit as may be necessary to compensate Landlord toward the payment of the Rent or other sums due Landlord under this Agreement as a result of such breach by Tenant. It is understood and agreed that the Security Deposit is not to be considered as prepaid rent, nor shall damages be limited to the amount of the Security Deposit. Upon the expiration or sooner termination of this Agreement, any unapplied balance of the Security Deposit shall be paid by wire transfer to Tenant.
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Security for Tenant's Performance. As security to Landlord that Tenant will carry out the monetary obligations described in this Lease, the parties agree upon the following arrangement. Upon execution of this Lease Amendment, Tenant shall deposit with Landlord an IRREVOCABLE LETTER OF CREDIT in the face amount of ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000.00) (the "Letter of Credit'), for the benefit of Landlord, its successors or assigns; similar to the sample Irrevocable Letter of Credit shown on EXHIBIT "F" attached hereto and made a part hereof. In the event of an uncured monetary default of Tenant under this Lease, or in the event of nonrenewal of the Letter of Credit by Tenant at least thirty (30) days prior to its stated expiration date, Landlord shall have the right to draw upon the Letter of Credit from time to time to cure any such default. The Letter of Credit shall be maintained and renewed by Tenant on an annual basis for the term of this Lease. In the event of an uncured monetary default hereunder or the failure of Tenant to deliver to Landlord a renewed or replacement Letter of Credit at least thirty (30) days prior to the stated expiration date of the Letter of Credit, Landlord may present a certificate to Lender certifying an uncured monetary default of Tenant under this Lease and requesting a specific draw on the Letter of Credit IN THE AMOUNT TO cure any such default. Tenant shall CAUSE THE LETTER OF CREDIT TO BE AMENDED OR REISSUED SO THAT the full $150,000.00 stated amount of the Letter of Credit shall be reinstated within fifteen (15) days following any such partial draw. If this Lease is terminated due to an uncured monetary default of Tenant, Landlord may elect to draw down the full stated amount of the Letter of Credit to satisfy existing or future Lease obligations of Tenant for unpaid rent or other monetary or maintenance obligations imposed on Tenant by this Lease. This provision shall in no way alter or diminish Landlord's obligation to mitigate its damages hereunder and any Letter of Credit funds held by Landlord in excess of Landlord's reasonable expenses to re-let the Demised Premises and to compensate Landlord for rent reserved or due from Tenant through the stated expiration date of this Lease, shall be refunded to Tenant. Tenant shall have the right to cure any monetary default under this Lease prior to a draw by Landlord under the Letter of Credit by paying to Landlord the principal amount of any such default, plus any accrued interest thereon pursuant ...
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Security for Tenant's Performance. 12.1. Security Deposit. Waived 12.2. Guaranty. Waived
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Security for Tenant's Performance. As additional security for the performance of Tenant's obligations under this Agreement, Tenant hereby grants to Landlord a lien upon and a security interest in, all of Tenant's right, title and interest in, to and under the following, whether now existing or hereafter acquired, created or arising (the "Collateral"): the Guaranty, the Holdback Agreement, the Management Agreement and the Pooling Agreement, as the same may be amended or otherwise modified from time to time, including, without limitation (i) all rights of Tenant to receive moneys due and to become due under or pursuant to any of the foregoing, (ii) claims of Tenant for damages arising out of or for breach of or default under any of the foregoing, (iii) the right of Tenant to exercise any rights and remedies under the foregoing, and (iv) to the extent not included in the foregoing, all proceeds of any and all of the foregoing. Tenant shall execute, acknowledge and deliver to Landlord financing statements and any other documents submitted to Tenant in form reasonably acceptable to Tenant evidencing or establishing such liens and security interests. In addition to and without limiting the foregoing, Tenant shall deliver original counterparts of any of the foregoing documents to Landlord promptly upon Landlord's request therefor to be held by Landlord as security in accordance with the terms of this Section. Section 5.1 2(f) of each of the Additional Leases is hereby deleted. It is understood and agreed that the Reserves under all of the Leases shall be maintained and used on a consolidated basis such that all funds in such Reserves shall be deposited in a single account and Assignors and TRS may apply any funds therein to any of the Initial Properties or the Additional Properties under the terms of Initial Leases and the Additional Leases as they shall mutually agree, subject to the terms of any applicable Management Agreement and the Pooling Agreement. 13. In addition to the other circumstances specified in Section 12.1 of the First Closing Leases, if (a) either Assignor or any Affiliated Person as to such Assignor shall fail to observe any of the terms, covenants or conditions to be observed or performed by it under the Agreement to Assign, the Initial Leases (to the extent that the same have not been assigned to Tenant pursuant to the Agreement to Assign), the Guaranty, the Holdback Agreement, the applicable Franchise Agreement, the applicable Management Agreement, the applicable Owner Agreem...
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Security for Tenant's Performance 
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Related to Security for Tenant's Performance

  • Covenants Performed The Purchasers shall have performed and complied in all material respects with the covenants, agreements and conditions required to be performed or complied with by them under this Agreement on or prior to the date of such Closing.

  • Security for Performance In the event that Exhibit A Section 4 indicates the need for Consultant to provide additional security for performance of its duties under this Agreement, Consultant shall provide such additional security prior to commencement of its Required Services in the form and on the terms prescribed on Exhibit A, or as otherwise prescribed by the City Attorney.

  • CONTRACTOR’S PERFORMANCE 2.21.1 Contractor shall make citizen satisfaction a priority in providing services under this Agreement. Contractor shall train its employees to be customer service-oriented and to positively and politely interact with citizens when performing contract services. Contractor’s employees shall be clean, courteous, efficient, and neat in appearance and committed to offering the highest quality of service to the public. If, in the Director’s opinion, Contractor is not interacting in a positive and polite manner with citizens, he or she shall direct Contractor to take all remedial steps to conform to these standards

  • Buyer’s Performance All of the covenants and obligations that Buyer is required to perform or to comply with pursuant to this Agreement at or prior to the Closing (considered collectively), and each of these covenants and obligations (considered individually), shall have been performed and complied with in all material respects.

  • Seller’s Performance All of the covenants and obligations that Seller is required to perform or to comply with pursuant to this Agreement at or prior to the Closing (considered collectively), and each of these covenants and obligations (considered individually), shall have been duly performed and complied with in all material respects.

  • REGISTRY PERFORMANCE SPECIFICATIONS

  • Excuse for Nonperformance or Delayed Performance Except with respect to defaults of subcontractors, Contractor/Vendor shall not be in default by reason of any failure in performance of this contract in accordance with its terms (including any failure by Contractor/Vendor to make progress in the prosecution of the work hereunder which endangers such performance) if Contractor/Vendor has notified the Commission or designee within 15 days after the cause of the delay and the failure arises out of causes such as: acts of God; acts of the public enemy; acts of the State and any other governmental entity in its sovereign or contractual capacity; fires; floods; epidemics; quarantine restrictions; strikes or other labor disputes; freight embargoes; or unusually severe weather. If the failure to perform is caused by the failure of a subcontractor to perform or to make progress, and if such failure arises out of causes similar to those set forth above, Contractor/Vendor shall not be deemed to be in default, unless the services to be furnished by the subcontractor were reasonably obtainable from other sources in sufficient time to permit Contractor to meet the contract requirements. Upon request of Contractor, the Commission or designee shall ascertain the facts and extent of such failure, and, if such officer determines that any failure to perform was occasioned by any one or more of the excusable causes, and that, but for the excusable cause, Contractor’s progress and performance would have met the terms of the contract, the delivery schedule shall be revised accordingly, subject to the rights of the State under the clause entitled (in fixed-price contracts, “Termination for Convenience,” in cost-reimbursement contracts, “Termination”). (As used in this Paragraph of this clause, the term “subcontractor” means subcontractor at any tier).

  • Excuse from performance of obligations If the Affected Party is rendered wholly or partially unable to perform its obligations under this Agreement because of a Force Majeure Event, it shall be excused from performance of such of its obligations to the extent it is unable to perform on account of such Force Majeure Event; provided that: (a) the suspension of performance shall be of no greater scope and of no longer duration than is reasonably required by the Force Majeure Event; (b) the Affected Party shall make all reasonable efforts to mitigate or limit damage to the other Party arising out of or as a result of the existence or occurrence of such Force Majeure Event and to cure the same with due diligence; and (c) when the Affected Party is able to resume performance of its obligations under this Agreement, it shall give to the other Party notice to that effect and shall promptly resume performance of its obligations hereunder.

  • Contractor’s Performance Warranties Contractor represents and warrants to the State that: (i) Each and all of the services shall be performed in a timely, diligent, professional and skillful manner, in accordance with the highest professional or technical standards applicable to such services, by qualified persons with the technical skills, training and experience to perform such services in the planned environment. (ii) Any time software is delivered to the State, whether delivered via electronic media or the internet, no portion of such software or the media upon which it is stored or delivered will have any type of software routine or other element which is designed to facilitate unauthorized access to or intrusion upon; or unrequested disabling or erasure of; or unauthorized interference with the operation of any hardware, software, data or peripheral equipment of or utilized by the State. Without limiting the generality of the foregoing, if the State believes that harmful code may be present in any software delivered hereunder, Contractor will, upon State’s request, provide a new or clean install of the software. Notwithstanding the foregoing, Contractor assumes no responsibility for the State’s negligence or failure to protect data from viruses, or any unintended modification, destruction or disclosure. (iii) To the extent Contractor resells commercial hardware or software it purchased from a third party, Contractor will, to the extent it is legally able to do so, pass through any such third party warranties to the State and will reasonably cooperate in enforcing them. Such warranty pass-through will not relieve the Contractor from Contractor’s warranty obligations set forth herein.

  • Work Performance Xxxxxx agrees that all Services performed hereunder shall be performed on a best effort basis by employees, students, faculty, graduate assistants and staff having an appropriate experience and skill level and in compliance with the statement of work.

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