Common use of Tenant Deposits Clause in Contracts

Tenant Deposits. All tenant security deposits under the Leases (and interest thereon if required by law or contract to be earned thereon) and not theretofore lawfully applied to tenant obligations under the Leases shall be transferred or credited to Purchaser at Closing or placed in escrow if required by law. As of the Closing, Purchaser shall assume Seller’s obligations related to tenant security deposits under the Leases to the extent such tenant security deposits are actually transferred or credited to Purchaser.

Tenant Deposits. All tenant security deposits under the Leases in Seller’s possession (and interest thereon if required by law or contract to be earned thereon) and not theretofore lawfully applied to tenant obligations under the Leases shall be transferred or credited to Purchaser at Closing or placed in escrow if required by law. As of the Closing, Purchaser shall assume Seller’s obligations related to tenant security deposits under the Leases to the extent such tenant security deposits are actually transferred or credited to Purchaserdeposits.

Tenant Deposits. All tenant security deposits under the Leases actually received by Seller (and interest thereon if required by law or contract to be earned thereon) and not theretofore lawfully applied to tenant obligations under the Leases shall be transferred or credited to Purchaser at Closing or placed in escrow if required by lawClosing. As of the Closing, Purchaser shall assume Seller’s obligations related to tenant security deposits under the Leases to the extent such tenant security deposits are actually so transferred or credited to Purchaser.