TENANT’S SECURITY. Owner shall unless prohibited by law or by the general policies of lending institutions in New York City deposit the security in an interest-bearing account with a bank selected by Owner. All interest which shall accrue on the security shall be held as additional security in accordance with this Lease. Owner shall be entitled to an administrative fee equal to the lesser (i) of 1% per year upon the security deposited by the Tenant and (ii) the amount of interest earned that year on the security.
Appears in 5 contracts
Samples: Office Lease, Office Lease (Liquid Holdings Group LLC), Office Lease (Liquid Holdings Group LLC)
TENANT’S SECURITY. Owner shall unless prohibited by law or by the general policies of lending institutions in New York City deposit the security in an interest-bearing account with a bank selected by Owner. All interest which shall accrue on the security shall be held as additional security in accordance with this Lease. Owner shall be entitled to an administrative fee equal to the lesser (i) of 1% per year upon the security deposited by the Tenant and (ii) the amount of interest earned that year on the security.
Appears in 2 contracts
Samples: Agreement of Sublease (Liquid Holdings Group, Inc.), Office Lease (Liquid Holdings Group, Inc.)
TENANT’S SECURITY. 11a Owner shall unless prohibited by law or by the general policies of lending institutions in New York City deposit the security in an interest-bearing account with a bank selected by Owner. All interest which shall accrue on the security shall be held as additional security in accordance with this Lease. Owner shall be entitled to an administrative fee equal to the lesser (i) of 1% per year upon the security deposited by the Tenant and (ii) the amount of interest earned that year on the securityTenant.
Appears in 1 contract
TENANT’S SECURITY. Owner shall unless prohibited by law or by the general policies of lending institutions in New York City deposit the security in an interest-bearing account with a bank selected by Owner. All interest which shall accrue on the security shall be held as additional security in accordance with this Lease. Owner shall be entitled to an administrative fee equal to the lesser (i) of 1% per year upon the security deposited by the Tenant. On request of Tenant at the end of each calendar year, Owner will furnish Tenant with a statement of security then held by Owner and (ii) the amount of interest earned that year on the securityaccrued thereon.
Appears in 1 contract
Samples: College Television Network Inc
