Common use of Use of Security Deposit Clause in Contracts

Use of Security Deposit. Comms Group must hold the Security Deposit as security for the payment of any sums due under this Agreement. If you fail to pay any amount due on the due date for payment, Comms Group may immediately deduct amounts owed from the Security Deposit as set-off of your payment obligation.

Use of Security Deposit. Comms Group must hold the Security Deposit as security for the payment of any sums due under this Agreement. If you fail to pay any amount due on the due date for payment, Comms Group may immediately deduct amounts owed that amount from the Security Deposit as is set-off of your payment obligation.