Common use of Sublease Security Deposit Clause in Contracts

Sublease Security Deposit. On the date of this Sublease, Subtenant shall deposit directly with Landlord the Sublease Security Deposit as security for the faithful performance by Subtenant under this Sublease. The Sublease Security Deposit shall be returned (without interest) to Subtenant (or, at Landlord’s option, to the last assignee of Subtenant’s interest under this Sublease) after the expiration of the Sublease Term or sooner termination of this Sublease and delivery of possession of the Subleased Premises to Sublandlord in accordance with Paragraph 17 of the Lease if, at such time, Subtenant is not in default under this Sublease. If Landlord’s interest in this Sublease is conveyed, transferred or assigned, Landlord shall transfer or credit the Sublease Security Deposit to Landlord’s successor in interest, and Landlord shall be released from any liability for the return of the Sublease Security Deposit, provided that such successor assumes Landlord’s obligations in connection with this Sublease. Landlord may intermingle the Sublease Security Deposit with Landlord’s own funds, and shall not be deemed to be a trustee of the Sublease Security Deposit. If Subtenant fails to pay or perform in a timely manner any obligation under this Sublease, Landlord may, prior to, concurrently with or subsequent to, exercising any other right or remedy, use, apply or retain all or any part of the Sublease Security Deposit for the payment of any monetary obligation due under this Sublease, or to compensate Landlord for any other expense, loss or damage which Landlord may incur by reason of Subtenant’s failure, including any damage or deficiency in the reletting of the Subleased Premises. If all or any portion of the Sublease Security Deposit is so used, applied or retained, Subtenant shall immediately deposit with Landlord cash in an amount sufficient to restore the Sublease Security Deposit to the original amount. Landlord may withhold the Sublease Security Deposit after the expiration of the Sublease Term or sooner termination of this Sublease until Subtenant has paid in full Subtenant’s share of Operating Expenses for the year in which such expiration or sooner termination occurs (as provided in Paragraph 7 of this Sublease) and all other amounts payable under this Sublease. The Sublease Security Deposit is not a limitation on Sublandlord’s or Landlord’s damages or other rights under this Sublease, a payment of liquidated damages or prepaid rent and shall not be applied by Subtenant to the rent for the last (or any) month of the Sublease Term, or to any other amount due under this Sublease.

Sublease Security Deposit. On A. Sublessor, for and in consideration of the date payment of Rent herein reserved and Sublessee’s performance of the covenants and agreements herein contained, hereby subleases to Sublessee, and Sublessee accepts from Sublessor, the Premises as defined in Section l.A of this Sublease. B. Upon execution of this Sublease, Subtenant Sublessee shall deposit directly with Landlord an agreed upon escrow service a security deposit in the Sublease Security Deposit as security amount of $59,000 for the Sublessee’s faithful performance by Subtenant under this Sublease. The Sublease of Sublessee’s obligations hereunder (the “Security Deposit shall be returned (without interest) to Subtenant (or, at Landlord’s option, to the last assignee of Subtenant’s interest under this Sublease) after the expiration of the Sublease Term or sooner termination of this Sublease and delivery of possession of the Subleased Premises to Sublandlord in accordance with Paragraph 17 of the Lease if, at such time, Subtenant is not in default under this SubleaseDeposit”). If Landlord’s interest in this Sublease is conveyed, transferred or assigned, Landlord shall transfer or credit the Sublease Security Deposit to Landlord’s successor in interest, and Landlord shall be released from any liability for the return of the Sublease Security Deposit, provided that such successor assumes Landlord’s obligations in connection with this Sublease. Landlord may intermingle the Sublease Security Deposit with Landlord’s own funds, and shall not be deemed to be a trustee of the Sublease Security Deposit. If Subtenant Sublessee fails to pay Rent or perform in a timely manner other charges when due beyond any obligation applicable notice and cure period under this Sublease, Landlord mayor fails to perform any of its other obligations hereunder beyond any applicable notice and cure period, prior to, concurrently with Sublessor may request the escrow service to use or subsequent to, exercising any other right or remedy, use, apply or retain all or any part portion of the Sublease Security Deposit for the payment of any monetary obligation Rent or other amounts then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee’s default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within thirty (30) business days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee’s failure to do so shall constitute Consent to Sublease 2 a default under this Sublease. Within ten (10) days after the Term has expired or this Sublease is otherwise earlier terminated, or Sublessee has vacated the Premises, or any final adjustment pursuant to this Sublease has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee. Provided Sublessee is not in default under this Sublease and that no event or condition exists which with notice and the expiration of any grace period would constitute an event of default under this Sublease, (i) after Sublessor has received twelve (12) months of full Base Rent and Additional Rent payments (excluding any periods of partial or to compensate Landlord for any other expensefree Rent), loss or damage which Landlord may incur by reason of Subtenant’s failure, including any damage or deficiency in the reletting Sublessor shall return $19,666.66 of the Subleased Premises. If all or any portion of the Sublease Security Deposit is so used, applied or retained, Subtenant shall immediately deposit with Landlord cash in an amount sufficient to restore the Sublease Security Deposit to Sublessee and (ii) after Sublessor has received an additional twelve (12) months of full Base Rent and Additional Rent payments (excluding any periods of partial or free Rent), Sublessor shall return and additional $19,666.66 of the original amount. Landlord may withhold the Sublease Security Deposit after the expiration of the Sublease Term or sooner termination of this Sublease until Subtenant has paid in full Subtenant’s share of Operating Expenses for the year in which such expiration or sooner termination occurs (as provided in Paragraph 7 of this Sublease) and all other amounts payable under this Sublease. The Sublease Security Deposit is not a limitation on Sublandlord’s or Landlord’s damages or other rights under this Sublease, a payment of liquidated damages or prepaid rent and shall not be applied by Subtenant to the rent for the last (or any) month of the Sublease Term, or to any other amount due under this SubleaseSublessee.

Sublease Security Deposit. On the date The Sublease Security Deposit shall be held by Sublandlord, as set forth in Paragraph 4 of this Sublease, Subtenant shall deposit directly with Landlord the Sublease Security Deposit as security for the faithful performance by Subtenant under this Sublease. The Sublease Security Deposit shall be returned (without interest) to Subtenant (or, at LandlordSublandlord’s option, to the last assignee of Subtenant’s interest under this Sublease) after the expiration of the Sublease Term or sooner termination of this Sublease and delivery of possession of the Subleased Premises to Sublandlord in accordance with Paragraph 17 of the Lease if, at such time, Subtenant is not in default under this Sublease. If LandlordSublandlord’s interest in this Sublease is conveyed, transferred or assigned, Landlord Sublandlord shall transfer or credit the Sublease Security Deposit to LandlordSublandlord’s successor in interest, and Landlord Sublandlord shall be released from any liability for the return of the Sublease Security Deposit, provided that such successor assumes LandlordSublandlord’s obligations in connection with under this Sublease. Landlord Sublandlord may intermingle the Sublease Security Deposit with LandlordSublandlord’s own funds, and shall not be deemed to be a trustee of the Sublease Security Deposit. If Subtenant fails to pay or perform in a timely manner any obligation under this Sublease, Landlord Sublandlord may, prior to, concurrently with or subsequent to, exercising any other right or remedy, use, apply or retain all or any part of the Sublease Security Deposit for the payment of any monetary obligation due under this Sublease, or to compensate Landlord Sublandlord for any other expense, loss or damage which Landlord Sublandlord may incur by reason of Subtenant’s failure, including any damage or deficiency in the reletting of the Subleased Premises. If all or any portion of the Sublease Security Deposit is so used, applied or retained, Subtenant shall immediately deposit with Landlord Sublandlord cash in an amount sufficient to restore the Sublease Security Deposit to the original amount. Landlord Sublandlord may withhold the Sublease Security Deposit after the expiration of the Sublease Term or sooner termination of this Sublease until Subtenant has paid in full Subtenant’s share Share of Operating Expenses for the year (or portion thereof) in which such expiration or sooner termination occurs (as provided in Paragraph 7 of this Sublease) and all other amounts payable under this Sublease, provided that with respect to such Subtenant’s Share of Operating Expenses, Sublandlord provides to Subtenant an Actual OpEx Statement for such year (or portion thereof) within ninety (90) days after the expiration of the Sublease Term or sooner termination of this Sublease. The Sublease Security Deposit is not a limitation on Sublandlord’s or Landlord’s damages or other rights under this Sublease, a payment of liquidated damages or prepaid rent and shall not be applied by Subtenant to the rent for the last (or any) month of the Sublease Term, or to any other amount due under this Sublease.