Waiving The Security Deposit Sample Clauses

Waiving The Security Deposit. As a custom, the Lessor will expect to receive a certain amount based on the monthly rent to hold for the length of this agreement. This amount would be returned in full to the Lessee when the agreement terminates and the Lessee does not have an unpaid balance with the Lessor. In some states, this security deposit will need to be held by the Lessor in certain types of accounts. If the Lessor does not intend to collect a security deposit from the Lessee, then select the first checkbox statement. (16)
Sample 1Sample 2Sample 3See All (7)
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Waiving The Security Deposit. Option To Renew (33) Lessee May Not Renew. (Video) Types of Commercial Space (3) There are a variety of different commercial properties out there, and it’s important for businesses and landlords to know the difference. Use Of Leased Premises (10) Defined As All Purpose. For instance, it wouldn’t make sense for a landlord to advertise a property to retail outlets if the commercial space was designed for a warehouse. Description Of Leased Premises (6)
Sample 1
Waiving The Security Deposit. The amount of money the Lessor expects from the Lessee as a rent payment should be written out then numerically presented to the spaces in Article VI. If the Lessee may renew this lease upon its termination and must pay a predetermined dollar amount in addition to the monthly rent as an increase, then select the final statement and record the dollar amount that will be added to the current rent. These properties have three categories based on their quality of construction and location (Class A, Class B, and Class C). If the Premises is not in compliance with the Americans with Disability Act any modifications or construction will be the responsibility of the Lessor. (19) Release Of Percentage Rent. It is also important to write all the amenities, parking, water/sewer, and any other information that is necessary to the needs of a prospective tenant. View a Sample Individual Report. Use Of Leased Premises (10) Defined As All Purpose. As a professional businessman you may regularly prepare documents for business purpose that may be full of many different formats and take long time to prepare. Triple (NNN)
Sample 1
Waiving The Security Deposit. The physical address where the commercial property is accessible is a necessary item for this contract’s effect. VIII. Step 10 – Write the Commercial Lease Agreement Use an attorney or draft the lease yourself. When adding your property it is best to have nice looking images of the interior and exterior along with any common areas. Lessor’s Acknowledgment Of Notary Public (51) Notary Acknowledgment Of Lessee Signature. Example – Charge the tenant a percentage (%) rent of their sales rather than a higher monthly amount. These properties have three categories based on their quality of construction and location (Class A, Class B, and Class C). (Video) Types of Commercial Space (3) There are a variety of different commercial properties out there, and it’s important for businesses and landlords to know the difference. If the Lessor and Lessee agree that this agreement will not be renewed, then xxxx the first checkbox statement to include this provision. The third checkbox should be marked if the Lessee may renew the lease and be required to pay an increase that is the calculated product of the rent and the annual change of the CPI (Consumer Price Index). Download: Adobe PDF, MS Word, OpenDocument Triple-Net (NNN) Lease Agreement – Tenant pays an agreed-upon amount to the landlord in addition to all expenses apart of the property including but not limited to taxes, common area maintenance (CAM’s), and real estate taxes levied by the county and/or city/town. This will often include additional terms to negotiate how space will be blocked off for different tenants or if one business will have exclusive rights to the property. (16)
Sample 1
Waiving The Security Deposit. III. Dispense the percentage of the Lessee’s revenue that should be paid to the Lessor. This value should be written out then presented numerically along with the type of revenue (I.e. gross sales, etc.) that will be used for this calculation. Expenses (26)
Sample 1

Related to Waiving The Security Deposit

  • Use of a security deposit (a) We may use your security deposit, and any interest earned on the security deposit, to offset any amount you owe under this contract:

  • SECURITY DEPOSIT Upon execution of this Lease, Tenant shall deposit with Landlord the amount of the Security Deposit specified on [Page One], of this Lease. The Security Deposit will be returned to Tenant without interest upon the expiration of the Term of the Lease, provided that Xxxxxx has paid all amounts due under this Lease and has otherwise performed all obligations hereunder. In the event that Tenant defaults under any provision of this Lease, and after the expiration of any applicable cure period, Landlord may apply all, or any part of the Security Deposit to amounts owed by Tenant. In the event Landlord elects to apply the Security Deposit as provided for above, Tenant shall promptly restore such Security Deposit to the original amount. Landlord may, at its discretion, commingle such funds with its other funds, Upon any sale or other conveyance of the Building, Landlord may transfer the Security Deposit (or any amount of the Security Deposit remaining) to a successor/owner, and Xxxxxx agrees to look solely at the successor/owner for repayment of the same. Notwithstanding anything to the contrary in the paragraph above, in lieu of a cash Security Deposit, Tenant may deliver the Security Deposit in the form of an unconditional, clean, irrevocable standby letter of credit, in a form acceptable to Landlord, and issued by a bank reasonably acceptable to Landlord (the “Letter of Credit”) as security, provided the Letter of Credit shall be delivered to Landlord with executed copies of this Lease. The Letter of Credit shall (i) be unconditional, irrevocable, transferable, payable to Tenant upon presentment of original to the issuer in person or by courier, in partial or full draws, and (ii) contain an “evergreen” provision which provides that it is automatically renewed on an annual basis (subject to the permitted date of termination set forth below) unless the issuer delivers thirty (30) days’ prior written notice of cancellation to Landlord and Tenant. Without limiting any of Landlord’s rights or remedies hereunder, if the bank issuing the Letter of Credit provides Landlord with a cancellation notice, Landlord may immediately draw upon all or any part of the Letter of Credit and Tenant shall provide Landlord with an additional irrevocable stand-by letter of credit as provided below. Any and all fees or costs charged by the issuer in connection with the Letter of Credit shall be paid by Xxxxxx. The irrevocable stand-by Letter of Credit shall remain effective through the date that is sixty (60) days following the expiration date this Lease. If Tenant defaults with respect to any provision of this Lease beyond applicable notice and cure periods, including but not limited to the provisions relating to the payment of Rent, Landlord may draw upon all or any part of Tenant’s Letter of Credit. If any portion of the Security Deposit is so used, applied, or retained, Tenant will within ten (10) days after written demand from Landlord, provide to Landlord an additional irrevocable, stand-by letter of credit, which shall be in form and substance satisfactory to Landlord, issued by a bank reasonably acceptable to Landlord, in an amount sufficient to restore the Security Deposit to its required amount pursuant to this Section 8. Tenant’s failure to replenish the Security Deposit shall constitute a failure to pay Additional Rent and Tenant shall have ten (10) days from the date of notice to cure such default.

  • NON-WAIVER OF DEFAULT The failure or delay by either party hereto to enforce or exercise at any time any of the rights or remedies or other provisions of this Agreement shall not be construed to be a waiver thereof, not affect the validity of any part of this Agreement or the right of either party thereafter to enforce each and every such right or remedy or other provision. No waiver of any default or breach of the Agreement shall be held to be a waiver of any other default and breach.

  • Waiver of Damages In no event shall Lender be liable to Borrower for punitive, exemplary or consequential damages, including, without limitation, lost profits, whatever the nature of a breach by Lender of its obligations under this Agreement or any of the Loan Documents, and Borrower waives all claims for punitive, exemplary or consequential damages.

  • SUBORDINATION OF LEASE This Agreement and Tenant's interest hereunder are and shall be subordinate, junior and inferior to any and all mortgages, liens or encumbrances now or hereafter placed on the Premises by Landlord, all advances made under any such mortgages, liens or encumbrances (including, but not limited to, future advances), the interest payable on such mortgages, liens or encumbrances and any and all renewals, extensions or modifications of such mortgages, liens or encumbrances.

  • Waiver of Default Upon the happening of any default hereunder:

  • No Waiver of Default No waiver by the parties hereto of any default or breach of any covenant, term or condition of this Agreement shall be deemed to be a waiver of any other default or breach of the same or any other covenant, term or condition contained herein.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • REFUND OF SECURITY DEPOSIT MANAGEMENT agrees to refund the security deposit to RESIDENT upon satisfaction of all lease provisions, and all of the following conditions, or as otherwise required by applicable Virginia Law.

  • Interest on security deposits Where you have paid a security deposit, we must pay you interest on the security deposit at a rate and on terms required by the Rules.

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