Xxxxxxxx Deposit. Lessee shall deposit with Lessor upon Lessee's execution hereof the Security Deposit set forth in Paragraph 1 .7 as security for Lessee's faithful performance of Lessee's obligations under this Lease. If Lessee fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under this Lease (as defined in Pxxxxxxxx 0 0. 0 ), Xxxxxx may use, apply or retain all or any portion of said Security Deposit for the payment of any amount due Lessor or to reimburse or compensate Lessor for any liability, cost, expense, loss or damage (including attorneys' fees) which Lessor may suffer or incur by reason thereof. If Lessor uses or applies all or any portion of said Security Deposit, Lessee shall within ten (10) days after written request therefore deposit monies with Lessor sufficient to restore said Security Deposit to the full amount required by this Lease. Any time the Base Rent increases during the term of this Lease, Lessee shall, upon written request from Lessor, deposit additional monies with Lessor as an addition to the Security Deposit so that the total amount of the Security Deposit shall at all times bear the same proportion to the then current Base Rent as the initial Security Deposit bears to the initial Base Rent set forth in Paragraph 1 .5. Lessor shall not be required to keep all or any part of the Security Deposit separate from its general accounts. Lessor shall, at the expiration or earlier termination of the term hereof and after Lessee has vacated the Premises, return to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee~s interest herein), that portion of the Security Deposit not used or applied by Lessor. Unless otherwise expressly agreed in writing by Lessor, no part of the Security Deposit shall be considered to be held in trust, to bear interest or other increment for its use, or to be prepayment for any monies to be paid by Lessee under this Lease.
Xxxxxxxx Deposit. 30.1 Security Deposit shall be deducted from each running bill at the rate as specified in the Contract Data. The total amount of Security Deposit so deducted shall not exceed the percentage of Contract Price specified in the Contract Data.
30.2 The security deposit may be replaced by equivalent amount of bank guarantee or fixed deposit receipt assigned to the Employer, with validity up to 3 (three) months beyond the completion of Defect Liability Period/ extended Defect Liability Period.
30.3 The Security deposits shall be refunded of completion of defect liability period. The additional performance security shall be refunded on satisfactory completion of the work. (As perAmended vide Govt. memo No.F-53/ 16/2012/19/yo/1317 dt. 28.02.15)
Xxxxxxxx Deposit. 1After evaluation and finalization of Part I Technical bids and Part II Commercial bids, selected tenderer should remit a security deposit amount at 5% of the order value including the EMD drawn by means of Demand Draft /Bankers Cheque from any Nationalized/ commercial Bank in favour of “The Joint Managing Director, TCMPF Ltd., Chennai” payable at Chennai within 15 days from the date of receipt of work order.
Xxxxxxxx Deposit. Security Deposit for 10% of the order value is mandatory, if the ordered value is Rs.5.00 lakhs and above. Party shall furnish the Security Deposit in the form of Bank Guarantee from nationalized/scheduled bank or by Demand Draft valid till completion of the contract period plus sixty days towards claim period for faithful execution of the contract.
Xxxxxxxx Deposit. Tenant herewith deposits with Landlord $375.00, which shall be held by Landlord as security (a) for performance by Tenant of all terms, covenants, and conditions of this lease and (b) for the return of the leased premises and common areas, and the personal property, if any, therein, in accordance with the terms of the lease. The common areas of the premises shall include all areas of the building and premises accessible to all Tenants equally. Tenant shall be responsible, pro rata, with all other Tenants, for damage to the common areas. Landlord shall not be required to produce proof of the responsible party to assess a claim against each and all Tenants' security deposits for their pro rata share of damage to the common area. All security deposit refunds must be in writing. After July 1 2019 all deposits will be non-refundable. Any student who vacates their apartment or is dismissed or withdrawals from Herkimer College prior to the end of this contract, shall forfeit the Security Deposit and are liable for the remainder of rent, both Fall and Spring Semesters.
Xxxxxxxx Deposit. (a) At the time of signing this Lease, Tenant shall deposit with Landlord the Security Deposit set forth in Section 1 above in the form of cash, to be retained by Landlord as security for the faithful performance and observance by Tenant of the provisions of this Lease. Tenant shall not be entitled to any interest on the Security Deposit. Landlord shall have the right to comingle the Security Deposit with its other funds. Landlord may use the whole or any part of the Security Deposit for the payment of any amount as to which Tenant is in default or to compensate Landlord for any loss or damage it may suffer by reason of Tenant’s default under this Lease. If Landlord uses all or any portion of the Security Deposit as herein provided, within 10 days after demand, Tenant shall pay Landlord cash in an amount equal to that portion of the Security Deposit used by Landlord.
(b) Within sixty (60) days following the signing of this Lease, Tenant shall replace said cash security deposit in the form of a letter of credit in the amount of $350,000.00 (the “Letter of Credit”) in accordance with the provisions of this Section 27, to be retained by Landlord during the term of this Lease as security for the faithful performance and observance by Tenant of the covenants, agreements and conditions of this Lease. A failure of Tenant to replace the cash security deposit with a Letter of Credit in compliance with the terms of this Section 27 within sixty (60) days of the date of this Lease shall be a default under this Lease. Within five (5) business days following receipt of the Letter of Credit, Landlord shall return to Tenant the unapplied cash security deposit. Commencing on the first day of the 22nd month of the Term, Tenant shall be entitled to reduce the amount of the Letter of Credit by Fifty Thousand Dollars ($50,000.00) to Three Hundred Thousand Dollars ($300,000.00), provided that Tenant is not currently in default beyond any applicable grace or cure period. Commencing on the first day of the 34th month of the Term, Tenant shall be entitled to reduce the amount of the Letter of Credit by an additional Fifty Thousand Dollars ($50,000.00) to Two Hundred Fifty Thousand Dollars ($250,000.00), provided that Tenant is not currently in default beyond any applicable grace or cure period. Commencing on the first day of the 46th month of the Term, Tenant shall be entitled to reduce the amount of the Letter of Credit by an additional Fifty Thousand Dollars ($50,000.00) to Two ...
Xxxxxxxx Deposit. To secure the performance of the Licensee under this Licence the Licensee must pay the Security Deposit to the School Council on or before the Commencement Date. If the Licensee breaches any of the Licensee’s obligations under this Licence and the School Council incurs any Losses (or acquires any other entitlement to payment from the Licensee), the School Council may, if the default remains unremedied 10 Business Days after Default Notice has been given to the Licensee, draw on the Security Deposit without further Notice to the Licensee to make good such Loss. If the School Council draws on the Security Deposit, the Licensee must replace the amount drawn down within 10 Business Days to maintain the Security Deposit at the level specified in Item 16 of Schedule 1. Subject to any right the School Council has to draw on the Security Deposit, the School Council must return the Security Deposit to the Licensee when each of the following criteria have been satisfied: 60 days have elapsed since the expiry or termination of this Licence; the Licensee has vacated the Licensed Area in accordance with this Licence, including satisfying all of its reinstatement obligations; and the Licensee has no outstanding obligations under this Licence or subsisting breach of this Licence or any actual or potential liability for any breach or non-performance of any of the Licensee’s obligations under this Licence.
Xxxxxxxx Deposit. (a) [TBD: Concurrently with the execution of this Lease] Tenant shall deliver to Landlord a security deposit (the “Security Deposit”) in the amount of _______________________________ ($________________). The Security Deposit shall be in the form of an irrevocable letter of credit (the “Letter of Credit”) and shall be issued by a bank acceptable to Landlord and having a long-term unsecured debt rating of not less than “A” from Standard & Poor's Corporation and in form and substance satisfactory to Landlord. The Security Deposit shall remain in full force and effect during the Term as security for the payment by Tenant of the Rent and all other charges or payments to be paid hereunder and the performance of the covenants and obligations contained herein, and the Letter of Credit shall be renewed at least thirty (30) days prior to any expiration thereof. If Tenant fails to renew the Letter of Credit by such date, time being of the essence, Landlord shall have the right at any time after the thirtieth (30th) day before such expiration date to draw on the Letter of Credit and to deposit the proceeds of the Letter of Credit as a cash security deposit (the “Cash Security Deposit”) in any account for the benefit of Landlord or to declare an Event of Default. The Cash Security Deposit shall not be commingled with other funds of Landlord or other Persons and no interest thereon shall be due and payable to Tenant.
(b) If at any time an Event of Default shall have occurred and be continuing, Landlord shall be entitled, at its sole discretion, to draw on the Letter of Credit or to withdraw the Cash Security Deposit from the above-described account and to apply the proceeds in payment of (i) any Rent or other charges for the payment of which Tenant shall be in default, (ii) prepaid Basic Rent, (iii) any expense incurred by Landlord in curing any default of Tenant, and/or (iv) any other sums due to Landlord in connection with any default or the curing thereof, including, without limitation, any damages incurred by Landlord by reason of such default, including any rights of Landlord under Paragraph 23 or to do any combination of the foregoing, all in such order or priority as Landlord shall so determine in its sole discretion and Tenant acknowledges and agrees that such proceeds shall not constitute assets or funds of Tenant or its estate, or be deemed to be held in trust for Tenant, but shall be, for all purposes, the property of Landlord (or Lender, to the extent assign...
Xxxxxxxx Deposit. To secure the performance of the Hirer under this Agreement the Hirer must pay the Security Deposit to the School Council on or before the Commencement Date. If the Hirer breaches any of the Hirer’s obligations under this Agreement and the School Council incurs any Losses (or acquires any other entitlement to payment from the Hirer), the School Council may, if the default remains unremedied 10 Business Days after Default Notice has been given to the Hirer, draw on the Security Deposit without further Notice to the Hirer to make good such Loss. If the School Council draws on the Security Deposit, the Hirer must replace the amount drawn down within 10 Business Days to maintain the Security Deposit at the level specified in Item 6. Subject to any right the School Council has to draw on the Security Deposit, the School Council must return the Security Deposit to the Hirer when each of the following have been satisfied: 60 days have elapsed since the expiry or termination of this Agreement; the Hirer has vacated the Hired Area in accordance with this Agreement, including satisfying all of its reinstatement obligations; and the Hirer has no outstanding obligations under this Agreement or subsisting breach of this Agreement or any actual or potential liability for any breach or non-performance of any of the Hirer’s obligations under this Agreement.
Xxxxxxxx Deposit. $611,616.00. Equal to FIVE (5) months of Base Rent and Estimated Operating Expenses. Landlord shall credit Tenant with one-fifth (1/5th) of the original Security Deposit to the Rent then due during month fourteen (14) of the Lease Term, one-fifth (1/5th) of the original Security Deposit to the Rent then due during month twenty-five (25), one-fifth (1/5th) of the original Security Deposit to the Rent then due during (37) of the Lease Term, and one-fifth (1/5th) of the original Security Deposit to the Rent then due during month forty-nine (49) of the Lease Term.
