Tenant Security Deposits. All unapplied tenant security deposits (and interest thereon if required by law or contract to be earned thereon) under the Leases, shall be credited to Buyer at Closing.
Tenant Security Deposits. Cash Security Deposits held by or on behalf of Seller together with any interest accrued thereon, shall be retained by Seller, and Purchaser shall receive a credit at Closing in the amount thereof (less the amount of any interest or administrative charges which the landlord under such Lease and applicable law would be entitled to retain, pro-rated for the period prior to the Closing). In the case of any letters of credit or other non-cash security deposits, such instruments shall be delivered, by Seller to Purchaser in accordance with Section 9.1.4. After the date hereof and prior to Closing, Seller shall not be permitted to apply any Security Deposit, except that Seller may apply such Security Deposit in accordance with law and the applicable Lease in the event that (i) the Tenant under such Lease shall be in default thereunder, (ii) such Tenant shall have vacated and surrendered the leased premises thereunder to Seller (iii) such Lease shall have been terminated, and (iv) Seller shall have given such Tenant written notice (with a copy to Purchaser) of the application of such Security Deposit. Security Deposits applied after the Closing Date shall be held or applied as determined by Purchaser in its discretion, provided, that if Purchaser applies any such Security Deposit against delinquent Fixed Rent or Additional Rent under a Lease, Purchaser shall apply such amounts to delinquent Fixed Rent and Additional Rent pursuant to the terms of Sections 3.2.4 and 3.2.5. At Closing, Purchaser shall deliver to Seller a receipt for any Security Deposits actually turned over or credited by Seller to Purchaser in accordance with the Assignment and Assumption of Leases (as hereinafter defined). In the case of any Security Deposits held by Seller in the form of letters of credit, such letters of credit, to the extent permitted by the terms thereof, shall be assigned to Purchaser at the Closing in accordance with the Assignment and Assumption of Leases. At Closing, with respect to such letters of credit which by their terms are assignable, Seller shall deliver any documentation required by Purchaser or the issuing bank(s) with respect to the assignment of such letters of credit. Any fees imposed by such issuing banks in connection with such assignments shall be paid by Seller at the Closing. In the case of any such letters of credit which by their terms are not assignable, Seller shall use reasonable efforts to cause the applicable Tenant(s), on or promptly following th...
Tenant Security Deposits. Agent may, in Agent's discretion, require tenants to make security deposits in an amount permitted by law to secure tenants’ lease obligations (such security deposits shall hereinafter be referred to as "Tenant Security Deposits"). If the Agent requires Tenant Security Deposits, they shall be placed in a trust account in Agent’s name in a North Carolina bank or savings and loan association. Upon the commencement of this Agreement, Owner shall deliver to Agent a list of any current tenants who previously made Tenant Security Deposits under existing leases and the amounts thereof. Simultaneously therewith, any such Tenant Security Deposits shall be placed in a trust account in Agent's name in a North Carolina bank or savings and loan association, and shall thereafter be administered in accordance with this Agreement.
Tenant Security Deposits. At the Closing, Seller shall retain the amount of any Tenant Security Deposits then held by or on behalf of Seller and Buyer shall receive a credit toward the Purchase Price for all such Tenant Security Deposits then held on behalf of Seller.
Tenant Security Deposits. On the Closing Date, (i) the aggregate amount of all cash security deposits held by Seller under the Leases shall be credited against the Purchase Price therefor, and Purchaser shall assume the obligation for such security deposits pursuant to the Assignment and Assumption, and (ii) any non‑cash security deposits and letters of credit held by Seller under any Leases shall be transferred, set over and delivered to Purchaser. Seller agrees to reasonably cooperate with Purchaser after Closing in the transfer and assignment of any letters of credit to the extent any such transfer and assignment is not completed at Closing.
Tenant Security Deposits. At the Closing, Sellers shall transfer or cause to be transferred to Buyer the Security Deposits in accordance with SECTION 8.1.9.
Tenant Security Deposits. An assignment to Purchaser of all accounts representing tenant security deposits, including all accrued interest thereon required by law or other agreement to be paid thereon.
Tenant Security Deposits. At Closing, Purchaser shall receive a credit against the Purchase Price for the Property in question in an amount equal to all cash security deposits, if any, then held by or for the Seller under any leases at the Property. Purchaser will cause such amount to be maintained after Closing as a security deposit in accordance with the requirements of applicable law and the leases and shall indemnify the Seller from all claims of tenants with respect thereto.
Tenant Security Deposits. The Seller Parties shall grant to Purchaser a credit in an amount equal to the aggregate of the unapplied Tenant security and other deposits under the Leases that are held by a Seller Party or any Purchased Entity, as the case may be, in cash at the time of the Applicable Adjustment Time and are retained by a Seller Party after the Respective Closing, including all accrued interest thereon to the extent any Tenant may be entitled to receive such amounts in connection with the refund of any such deposit.
Tenant Security Deposits. At Closing, Seller shall turn over to Buyer (or give Buyer a credit for), all Security Deposits then held by Seller as of the Closing Date by or for Seller under the Leases, to the extent not previously applied in accordance with the Leases, including any accrued interest. Buyer will cause all Security Deposits to be maintained after Closing in accordance with the requirements of applicable law and shall indemnify and defend Seller and the other Indemnified Seller Parties from all claims of Tenants with respect to the Security Deposits actually delivered to Buyer or for which Buyer received a credit at Closing, which indemnity shall survive Closing indefinitely.
