Common use of Xxxxxxxx Deposit Clause in Contracts

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.

Appears in 2 contracts

Samples: Micro General Corp, Micro General Corp

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Xxxxxxxx Deposit. Lessee Concurrent with Tenant’s execution of this Lease, Tenant shall deposit with Lessor upon Lessee's execution hereof Landlord a security deposit (the Security Deposit Deposit”) in the amount set forth in Paragraph 1 .7 Section 10 of the Summary. The Security Deposit shall be held by Landlord as security for Lessee's the faithful performance by Tenant of Lessee's obligations under all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the Lease Term. If Tenant defaults with respect to any provisions of this Lease. If Lessee fails , including, but not limited to, the provisions relating to pay Base Rent or other rent or charges due hereunderthe payment of Rent, or otherwise Defaults under this Lease (as defined in Pxxxxxxxx 0 0. 0 )Landlord may, Xxxxxx may but shall not be required to, use, apply or retain all or any portion part of said the Security Deposit for the payment of any Rent or any other sum in default, or for the payment of any amount due Lessor that Landlord may spend or become obligated to spend by reason of Tenant’s default, or to reimburse or compensate Lessor Landlord for any liability, cost, expense, other loss or damage (including attorneys' fees) which Lessor that Landlord may suffer or incur by reason thereofof Tenant’s default. If Lessor uses or applies all or any portion of said the Security DepositDeposit is so used or applied, Lessee shall Tenant shall, within ten (10) business days after written request therefore demand therefor, deposit monies cash with Lessor Landlord in an amount sufficient to restore said the Security Deposit ​ ​ ​ ​ to the full amount required by its original amount, and Tenant’s failure to do so shall be a default under this Lease. Any time the Base Rent increases during the term If Tenant shall fully and faithfully perform every provision of this LeaseLease to be performed by it, 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 Deposit, or any part of the Security Deposit separate from its general accounts. Lessor shallbalance thereof, at the expiration or earlier termination of the term hereof and after Lessee has vacated the Premisesshall be returned to Tenant, return to Lessee (or, at Lessor's Landlord’s option, to the last assigneeassignee of Tenant’s interest hereunder, if any, of Lessee~s interest herein), that portion within thirty (30) days following the expiration of the Lease Term. Tenant shall not be entitled to any interest on the Security Deposit not used Deposit. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code, and all other provisions of law, now or applied hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by LessorTenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. Unless otherwise expressly agreed in writing by LessorIn the event of bankruptcy or other debtor-creditor proceedings against Tenant, no part of the Security Deposit shall be considered deemed to be held in trust, applied first to bear interest or the payment of Rent and other increment charges due Landlord for its use, or all periods prior to be prepayment for any monies to be paid by Lessee under this Leasethe filing of such proceedings.

Appears in 1 contract

Samples: Agreement of Lease (Xencor Inc)

Xxxxxxxx Deposit. Lessee shall deposit with Lessor upon Lessee's execution hereof the Security Deposit set forth in Paragraph 1 .7 as (a) As security for Lessee's faithful the performance of Lessee's its obligations under this Lease. If Lessee fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under Tenant upon its execution of 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 shall pay 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 Landlord the Security Deposit so that in 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 stated in Paragraph 1 .5. Lessor shall not be required to keep Clause 1.F. Landlord may use all or any part of the Security Deposit separate for the payment of any Rent or other sums as to which Tenant may be in default hereunder, or for any sum which Landlord may expend to cure any default of Tenant or by reason of Tenant’s default. Upon notice by Landlord of such application, Tenant shall replenish the Security Deposit in full by promptly paying to Landlord the amount so applied within thirty (30) days after written demand therefore. The Security Deposit shall not be deemed an advance payment of Rent or a measure of damages for any Default by Tenant under this Lease, nor shall it be deemed a bar or defense to any action which Landlord may at any time commence against Tenant. Landlord shall not be required to segregate the Security Deposit from its general accountsother funds and may commingle the Security Deposit with its other funds. Lessor shallLandlord’s obligation respecting the Security Deposit is that of a debtor, at not a trustee; no interest shall accrue thereon. Upon termination of the Lease and so long as all of Tenant’s obligations under terms and conditions of this Lease have been fulfilled, Landlord will return Tenant’s Security Deposit within thirty (30) days following the later of (a) the expiration or earlier termination of the term hereof Lease Term; or (b) the date that Tenant vacates the Premises in the manner required by this Lease 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 performs all of the Security Deposit not used covenants required to be performed by Tenant hereunder. In the event this Lease is terminated by or applied by Lessor. Unless otherwise expressly agreed in writing by Lessorupon the default of Tenant, no part of the Security Deposit shall be considered retained by Landlord and applied to Landlord’s damages until all such damages are determined, and the balance, if any, shall thereupon be held in trustrefunded to Tenant. Should the Project be sold or transferred, the Security Deposit will be assigned to bear interest the Purchaser or other increment for its use, or transferee upon which Landlord shall be released from all responsibilities as they relate to be prepayment for any monies to be paid by Lessee under this Leasethe Security Deposit.

Appears in 1 contract

Samples: Mosaic Commerce Center Lease Agreement (Boxabl Inc.)

Xxxxxxxx Deposit. Lessee shall Tenant agrees to deposit with Lessor upon Lessee's execution hereof Landlord the Security Deposit set forth in Paragraph 1 .7 at Section 1.8 upon execution of this Lease, as security for Lessee's Tenant’s faithful performance of Lessee's its obligations under this Lease. Landlord and Tenant agree that the Security Deposit may be commingled with funds of Landlord and Landlord shall have no obligation or liability for payment of interest on such deposit. Tenant shall not mortgage, assign, transfer or encumber the Security Deposit without the prior written consent of Landlord and any attempt by Tenant to do so shall be void, without force or effect and shall not be binding upon Landlord. If Lessee Tenant fails to pay Base any Rent or other rent or charges amount when due hereunderand payable under this Lease, or otherwise Defaults under this Lease (as defined in Pxxxxxxxx 0 0. 0 )fails to perform any of the terms hereof, Xxxxxx Landlord may use, appropriate and apply or retain use all or any portion of said the Security Deposit for the Rent payments or any other amount then due and unpaid, for payment of any amount due Lessor for which Landlord has become obligated as a result of Tenant’s default or to reimburse or compensate Lessor breach, and for any liability, cost, expense, loss or damage (including attorneys' fees) which Lessor sustained by Landlord as a result of Tenant’s default or breach, and Landlord may suffer so apply or incur use this deposit without prejudice to any other remedy Landlord may have by reason thereofof Tenant’s default or breach. If Lessor Landlord so uses or applies all or any portion of said the Security Deposit, Lessee Tenant shall within ten (10) days after written request therefore deposit monies with Lessor sufficient to demand therefore, restore said the Security Deposit to the full amount required by this Leaseoriginally deposited; Tenant’s failure to do so shall constitute an act of default hereunder and Landlord shall have the right to exercise any remedy provided for in Section 21 hereof. Any time Within fifteen (15) days after 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 Term (or any part of the Security Deposit separate from its general accounts. Lessor shall, at the expiration extension thereof) has expired or earlier termination of the term hereof and after Lessee Tenant has vacated the Premises, whichever shall last occur, and provided Tenant is not then in default on any of its obligations hereunder, Landlord shall return the Security Deposit to Lessee (Tenant, or, at Lessor's optionif Tenant has assigned its interest under this Lease, to the last assigneeassignee of Tenant. If Landlord sells its interest in the Premises, if any, Landlord may deliver this deposit to the purchaser of Lessee~s Landlord’s interest herein), that portion and thereupon be relieved of any further liability or obligation with respect to 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 LeaseDeposit.

Appears in 1 contract

Samples: Lease Agreement (Jones Soda Co)

Xxxxxxxx Deposit. Lessee On or before January 4, 2021, Tenant shall deposit with Lessor upon Lessee's execution hereof the amount of the Security Deposit set forth indicated in Paragraph Section 1 .7 with Landlord to secure Tenant’s performance under this Lease. Tenant hereby grants to Landlord a security interest in the Security Deposit as security collateral for Lessee's faithful all Rent and other sums of money becoming due from Tenant to Landlord under this Lease, and San Fxxxxx Plaza/Summer Energy Holdings, Inc. DocuSign Envelope ID: A1357CC3-ED4D-47DF-A5FB-22FC3BC9DEAD for the performance of Lessee's Tenant’s obligations under this Lease, which security interest shall remain in effect until all such Rent and other sums of money have been paid in full and all such obligations have been fulfilled; the parties hereby acknowledge and agree that this Lease constitutes a security agreement under which such security interest is granted from Tenant to Landlord. In the event of an uncured Default, defined below, then Landlord may, without prejudice to Landlord’s other remedies, apply part or all of the Security Deposit to cure such Default. If Lessee fails to pay Base Rent Landlord so uses part 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 then Tenant shall within ten (10) days after written request therefore deposit monies demand, provide Landlord with Lessor a replacement Security Deposit in an amount sufficient to restore said the Security Deposit to the full amount required by this Leaseits original amount. 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 Lessorthe Landlord as permitted by this Lease shall be returned to Tenant after the Expiration Date. Unless otherwise expressly agreed in writing by Lessor, no part of Tenant does hereby authorize Landlord to withhold from the Security Deposit all amounts allowed by Law and the amount reasonably anticipated by Landlord to be owed by Tenant as a result of an underpayment of Tenant’s Pro- Rata Share of Operating Expenses and Taxes for the final year of the Term. To the fullest extent permitted by applicable Law, Tenant agrees that the provisions of this Article 8 shall supersede and replace all statutory rights of Tenant under applicable Law regarding the retention, application or return of security deposits. If Landlord sells the Building then the Landlord shall transfer the Security Deposit to the new owner and upon such new owner’s assumption of Landlord’s obligations, Landlord shall be considered relieved of any liability for the Security Deposit. Tenant shall not be entitled to be held in trustany interest on the Security Deposit, to bear interest or and Landlord may commingle the Security Deposit with other increment for its use, or to be prepayment for any monies to be paid by Lessee under this Leaseof Landlord.

Appears in 1 contract

Samples: Commercial Lease Agreement (Summer Energy Holdings Inc)

Xxxxxxxx Deposit. Lessee Simultaneously with the execution of this Lease, Tenant shall deposit with Lessor upon Lessee's execution hereof Landlord the Security Deposit set forth specified in Paragraph 1 .7 12 of the Basic Lease Information. This sum shall be held by Landlord as security for Lessee's the faithful performance by Tenant of Lesseeall of Tenant's obligations under this Lease. If Lessee fails Tenant defaults with respect to pay Base Rent or other rent or charges due hereunderany provision of this Lease, or otherwise Defaults under this Lease including, but not limited to, the provisions relating to the payment of Rent, then Landlord may (as defined in Pxxxxxxxx 0 0. 0 ), Xxxxxx may but is not required to) use, apply apply, or retain all or any portion part of said the Security Deposit for the payment of any Rent or any other sum in default, or for the payment of any other amount due Lessor that Landlord may incur by reason of Tenant's default or to reimburse or compensate Lessor Landlord for any liability, cost, expense, other loss or damage (including attorneys' fees) which Lessor that Landlord may suffer or incur by reason thereofof Tenant's default. 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 is used or applied pursuant to the previous sentence, then current Base Rent as Tenant shall, on demand, immediately deposit cash with Landlord in an amount sufficient to restore the initial Security Deposit bears to the initial Base Rent set forth in Paragraph 1 .5its original amount. Lessor shall Tenant's failure to do so is a material breach of this Lease. Landlord is not be required to keep all or any part of the Security Deposit separate from its general accountsfunds, and Tenant is not entitled to interest on the Security Deposit. Lessor shallThe Security Deposit is not an advance deposit of Rent or a measure of Landlord's Damages (as defined in this Lease) for purposes of a default by Tenant under this Lease. If Tenant shall fully and faithfully perform all of its obligations under this Lease, at then the expiration Security Deposit or earlier termination any balance of the term hereof and after Lessee has vacated the Premises, return Security Deposit shall be returned to Lessee Tenant (or, at LessorLandlord's option, to the last assigneeassignee of Tenant's interests under this Lease) sixty (60) days after the last to occur of: (i) expiration of the Tenn or earlier termination of the Lease, (ii) payment of all Rent and other sums due under this Lease, (iii) Tenant's surrender of the Premises pursuant to this Lease, and (iv) Landlord's receipt of Tenant's forwarding address. However, even if anyTenant fully and faithfully performs all of its obligations under the Lease, of Lessee~s interest herein), that Landlord may retain all or a portion of the Security Deposit not used or applied in an amount determined by LessorLandlord as necessary to cover any amounts owed by Tenant for Actual Operating Costs incurred during the Term. Unless otherwise expressly agreed If Landlord transfers its interest in writing by Lessorthe Premises and the transferee assumes Landlord's obligations under this Lease, then Landlord may assign the Security Deposit to the transferee, and, after making this assignment, Landlord shall have no part further liability for the return 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 LeaseDeposit.

Appears in 1 contract

Samples: One Countryside Place (Payment Data Systems Inc)

Xxxxxxxx Deposit. Lessee Tenant shall deposit with Lessor Landlord upon Lessee's Xxxxxx’s execution hereof the Security Deposit set forth in Paragraph 1 .7 1.7 as security for Lessee's Xxxxxx’s faithful performance of Lessee's Tenant’s obligations under this Lease. If Lessee Tenant 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 Paragraph 13.1), Xxxxxx Landlord 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 and Tenant shall within ten (10) days after written request therefore therefor deposit monies with Lessor Landlord sufficient to restore said Security Deposit to the full amount required by this Lease. Any At any time that the Base Rent increases during the term of this Lease, Lessee Tenant shall, upon written request from LessorLandlord, deposit additional monies with Lessor Landlord 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 .51.5. Lessor Landlord shall not be required to keep all or any part of the Security Deposit separate from its general accounts. Lessor Landlord shall, at within sixty (60) days of the expiration or earlier termination of the term hereof and after Lessee Tenant has vacated the Premises, return to Lessee Tenant (or, at Lessor's Landlord’s option, to the last assignee, if any, of Lessee~s Tenant’s interest herein), that portion of the Security Deposit not used or applied by LessorLandlord. Unless otherwise expressly agreed in writing by LessorXxxxxxxx, 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 Tenant under this Lease.

Appears in 1 contract

Samples: Responding Party (Interlink Electronics Inc)

Xxxxxxxx Deposit. Lessee shall deposit with Lessor To secure the faithful performance by Tenant of all its obligations under this Sublease, including the obligations that become applicable upon Lessee's execution hereof the expiration or termination of the Sublease, Tenant has deposited 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 with Landlord on the understanding that: (as defined in Pxxxxxxxx 0 0. 0 ), Xxxxxx may use, apply or retain a) 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 previously applied may from time to time be applied to the curing of any default that may then exist, without prejudice to any other remedies that Landlord may have, and upon application, Tenant shall pay Landlord on demand the amount applied, which shall be added to the Security Deposit so it is restored to its original amount; (b) if the Lease is assigned by Landlord, the Security Deposit or any portion not previously applied may be turned over to Landlord’s assignee and if the same is turned over, Tenant releases Landlord from any liability with respect to the Security Deposit and its application or return; (c) if permitted by Lessor. Unless otherwise expressly agreed law, Landlord or its successor shall not be obligated to hold the Security Deposit as a separate fund, but may commingle it with its other funds; (d) the sum deposited or the portion not previously applied shall be returned to Tenant without interest no later than 30 days after the expiration of the Sublease Term, provided Xxxxxx has vacated and surrendered possession of the Premises to Landlord as required in writing this Sublease; (e) if Landlord terminates this Sublease or Tenant’s right to possession by Lessorreason of an Event of Default by Tenant, no part Landlord may apply the Security Deposit against damages suffered to the date of the termination and may retain the Security Deposit to apply against damages as may be suffered or shall accrue thereafter by reason of Tenant’s default; (f) if any bankruptcy, insolvency, reorganization, or other creditor-debtor proceedings are instituted by or against Tenant, or its successors or assigns, the Security Deposit shall be considered deemed to be held applied first to the payment of any Rent due Landlord for all periods prior to the institution of the proceedings, and the balance, if any, may be retained or paid to Landlord in trustpartial liquidation of Landlord’s damages. At Tenant’s option, to bear interest the Security Deposit may be provided either in the form of cash or other increment for its use, or to be prepayment for any monies to be paid by Lessee under this Lease.as a letter of credit. ​

Appears in 1 contract

Samples: Sublease (AltC Acquisition Corp.)

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Xxxxxxxx Deposit. Lessee Tenant shall deliver to Landlord at the time it executes this Lease the security deposit with Lessor upon Lessee's execution hereof the Security Deposit set forth in Paragraph 1 .7 Section 1.12 as security for Lessee's Xxxxxx’s faithful performance of Lessee's Tenant’s obligations under this Leasehereunder. If Lessee Tenant fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under defaults with respect to any provision of this Lease (as defined in Pxxxxxxxx 0 0. 0 )Lease, Xxxxxx Landlord may use, apply or retain use all or any portion of said Security Deposit deposit for the payment of any amount Base Rent or other charge due Lessor hereunder, to pay any other sum to which Landlord may become obligated by reason of Tenant’s default, or to reimburse or compensate Lessor Landlord for any liability, cost, expense, loss or damage (including attorneys' fees) which Lessor Landlord may suffer or incur by reason thereofthereby. If Lessor Landlord so uses or applies all or any portion of said Security Depositdeposit, Lessee Tenant shall within ten (10) days after written request therefore demand therefor deposit monies cash with Lessor Landlord in an amount sufficient to restore said Security Deposit deposit to the its full amount required by this Leaseamount. 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 Landlord shall not be required to keep all or any part of the Security Deposit said security deposit separate from its general accounts. Lessor shallIf Xxxxxx performs all of Tenant’s obligations hereunder, at the expiration said deposit, or earlier termination so much thereof as has not heretofore been applied by Landlord, shall be returned, without payment of the term hereof and after Lessee has vacated the Premisesinterest or other amount for its use, return to Lessee Tenant (or, at Lessor's Landlord’s option, to the last assignee, if any, of Lessee~s Xxxxxx’s interest herein), that portion hereunder) at the expiration of the Security Deposit Term hereof, and after Xxxxxx has vacated the Premises. No trust relationship is created herein between Landlord and Tenant with respect to said security deposit. Tenant acknowledges that the security deposit is not used an advance payment of any kind or applied by Lessora measure of Landlord’s damages in the event of Tenant’s default. Unless otherwise expressly agreed in writing by Lessor, no part Tenant hereby waives the provisions 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 law which is inconsistent with this Lease.Section. ​

Appears in 1 contract

Samples: Standard Industrial Lease (Adara Acquisition Corp.)

Xxxxxxxx Deposit. Lessee shall deposit with Lessor upon Lessee's execution hereof the Security Deposit set forth in Paragraph 1 .7 as (a) As security for Lessee's faithful the performance of Lessee's its obligations under this Lease. If Lessee fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under Tenant upon its execution of 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 shall pay 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 Landlord the Security Deposit so that in 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 stated in Paragraph 1 .5. Lessor shall not be required to keep Clause 1.F. Landlord may use all or any part of the Security Deposit separate for the payment of any Rent or other sums as to which Tenant may be in default hereunder, or for any sum which Landlord may expend to cure any default of Tenant or by reason of Tenant's default. Upon notice by Landlord of such application, Tenant shall replenish the Security Deposit in full by promptly paying to Landlord the amount so applied within thirty (30) days after written demand therefore. The Security Deposit shall not be deemed an advance payment of Rent or a measure of damages for any Default by Tenant under this Lease, nor shall it be deemed a bar or defense to any action which Landlord may at any time commence against Tenant. Landlord shall not be required to segregate the Security Deposit from its general accountsother funds and may commingle the Security Deposit with its other funds. Lessor shallXxxxxxxx's obligation respecting the Security Deposit is that of a debtor, at not a trustee; no interest shall accrue thereon. Upon termination of the Lease and so long as all of Tenant's obligations under terms and conditions of this Lease have been fulfilled, Landlord will return Tenant's Security Deposit within thirty (30) days following the later of (a) the expiration or earlier termination of the term hereof Lease Term; or (b) the date that Tenant vacates the Premises in the manner required by this Lease 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 performs all of the Security Deposit not used covenants required to be performed by Tenant hereunder. In the event this Lease is terminated by or applied by Lessor. Unless otherwise expressly agreed in writing by Lessorupon the default of Tenant, no part of the Security Deposit shall be considered retained by Landlord and applied to Landlord's damages until all such damages are determined, and the balance, if any, shall thereupon be held in trustrefunded to Tenant. Should the Project be sold or transferred, the Security Deposit will be assigned to bear interest the Purchaser or other increment for its use, or transferee upon which Landlord shall be released from all responsibilities as they relate to be prepayment for any monies to be paid by Lessee under this Leasethe Security Deposit.

Appears in 1 contract

Samples: Mosaic Commerce Center Lease Agreement (Boxabl Inc.)

Xxxxxxxx Deposit. Lessee shall deposit with Lessor upon Lessee's execution hereof the A Security Deposit set forth in Paragraph 1 .7 as security for Lessee's faithful performance may be required upon the signing of Lessee's obligations under this Lease. If Lessee fails to pay Base Rent or other rent or charges due hereunderapplicable, 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 is $_____0_________. The Resident has the same proportion right to have this deposit returned to Resident after 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 termination of the Lease with certain exceptions under state law. Such exceptions include: (a) amounts due to Landlord hereunder; (b) payment of utilities, taxes or other charges; (c) damages caused by Resident(s); or (d) other exceptions provided by law. Upon the expiration or termination of this Lease, Tenant shall provide Landlord, in writing, with Xxxxxx's forwarding address for purposes of sending subsequent notices to Tenant and Tenant's Security Deposit separate from its general accountsDeposit, if any, after deducting any amounts due under this Lease. Lessor shall, at Not more than thirty (30) days after the expiration or earlier termination of the term hereof and after Lessee has vacated the Premisesthis Lease, return to Lessee (or, at Lessor's option, Landlord will mail to the last assigneeResident(s) a written list of any damages to the leased property for which Landlord claims Resident(s) is liable, accompanied by a check or money order for the difference between the sum of the damages claimed and amounts owed to Landlord and the amount of the Security Deposit held by the Landlord, if any. If the damages claimed by Landlord exceed the Security Deposit, of Lessee~s interest herein)Resident(s) shall pay Landlord the excess amount within thirty (30) days after notice thereof. Notwithstanding the foregoing, that Landlord shall not be liable for failing to send the foregoing notice or any portion of the Security Deposit not used or applied by Lessorto the Resident until the Resident supplies Landlord, in writing, with its forwarding address. Unless otherwise expressly agreed in writing by Lessor, no No part of the Security Deposit shall be considered refunded unless Resident provides not less than thirty (30) days’ prior written notice of surrender of the Leased Property. The Security Deposit shall not be a measure or limitation of damages for any default by Resident(s). If any damage occurs prior to be held the termination of this Lease, Resident(s) shall replace the amount, if any, of the Security Deposit used by Landlord to repair such damage. It is expressly understood by the parties that nothing in trust, this Paragraph shall preclude Landlord from refusing to bear interest return the Security Deposit to Resident(s) due to the nonpayment of Rent or other increment breach of this Lease by Resident. The Resident(s) does not have the right to use this Security Deposit as (Resident’s last month’s) rent, unless the Landlord agrees in writing. Landlord reserves the right to assign this Lease to any third party. The assignee shall be responsible for its usereturn of the Security Deposit. If Landlord sells the Community in which the Home is located, or Landlord may transfer the Security Deposit to the new owners of the Community for Resident’s benefit. Landlord shall notify Resident(s) of any such sale and transfer, whereupon Landlord shall be prepayment for any monies released of all liability relating to be paid by Lessee under this Leasethe Security Deposit.

Appears in 1 contract

Samples: Huntingdon Pointe

Xxxxxxxx Deposit. Lessee shall deposit with Lessor upon Lessee's execution hereof Section 5(b) of the Security Deposit set forth Original Lease is hereby deleted in Paragraph 1 .7 as security for Lessee's faithful performance of Lessee's obligations under this Lease. its entirety and the following section substituted in its place: “(b) If Lessee fails Tenant elects 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 substitute a cash Security Deposit for the payment Letter of any Credit in the amount due Lessor or of $953,254.11, after giving effect to reimburse or compensate Lessor for any liabilitythe Amendments, 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 the following provisions shall apply to the Security Deposit: (i)The Security Deposit may be applied by Landlord to cure, Lessee in whole or part, any default of Tenant under this Lease, and upon notice by Landlord of such application, Tenant shall replenish the Security Deposit in full by paying to Landlord within ten (10) days after written request therefore deposit monies with Lessor sufficient to restore said Security Deposit to of demand the full amount required by this Leaseso applied. 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 Landlord's application of the Security Deposit shall at all times bear the same proportion not constitute a waiver of Tenant's default to the then current Base Rent as extent that the initial Security Deposit bears to the initial Base Rent set forth does not fully compensate Landlord for all losses, damages, costs and expenses incurred by Landlord in Paragraph 1 .5. Lessor connection with such default and shall not be required prejudice any other rights or remedies available to Landlord under this Lease or by Law. (ii)Landlord shall keep all or any part of the Security Deposit separate from its general accountsaccounts in a single or multiple accounts in the name and under the sole domain and control of Landlord. Lessor shallNo less frequently than on an annual basis, at Landlord shall credit Tenant with interest on the expiration or earlier termination of Security Deposit in the term hereof and after Lessee has vacated the Premises, return to Lessee (or, at Lessor's option, to the last assigneeamount, if any, received by Landlord from the depository 3 institution. Landlord shall provide Tenant with a copy of Lessee~s interest herein)all statements which Landlord receives from the depository institution promptly following receipt by Landlord. (iii)The Security Deposit shall not be deemed an advance payment of Rent or a measure of damages for any default by Tenant under this Lease, nor shall it be a bar or defense of any action that portion Landlord may at any time commence against Tenant. (iv)In the absence of evidence satisfactory to Landlord of an assignment of the right to receive the Security Deposit not used or applied by Lessorthe remaining balance thereof, Landlord may return the Security Deposit to the original Tenant, regardless of one or more assignments of this Lease. Unless otherwise expressly agreed in writing by LessorUpon the transfer of Landlord's interest under this Lease, no part of Landlord's obligation to Tenant with respect to the Security Deposit shall terminate upon transfer to the transferee of the Security Deposit, or any balance thereof. (v)Except as otherwise expressly set forth herein, the Security Deposit, or any balance thereof, shall be considered returned to Tenant within thirty (30) days after Landlord recovers possession of the Premises or such longer time as may be held in trust, to bear interest permissible under Law. Tenant hereby waives any and all rights of Tenant under the provisions of Section 1950.7 of the California Civil Code or other increment for its use, or to be prepayment for any monies to be paid by Lessee under this LeaseLaw regarding security deposits.” 00.

Appears in 1 contract

Samples: www.sec.gov

Xxxxxxxx Deposit. Lessee Tenant shall deposit with Lessor upon Lessee's execution hereof the Security Deposit set forth in Paragraph 1 .7 with Landlord upon the execution of this Lease. Said sum shall be held by Landlord as security for Lessee's the faithful performance by Tenant of Lessee's obligations under all the terms, covenants and conditions of this Lease to be kept and performed by Tenant and not as an advance rental deposit or as a measure of Landlord’s damage in case of Tenant’s default. If Tenant defaults with respect to any provision of 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 Landlord may use, apply or retain all or use any portion part of said the Security Deposit for the payment of any Rent or any other sum in default, or for the payment of any amount due Lessor which Landlord may spend or become obligated to spend by reason of Tenant’s default, or to reimburse or compensate Lessor Landlord for any liability, cost, expense, other loss or damage (including attorneys' fees) which Lessor Landlord may suffer or incur by reason thereofof Tenant’s default. If Lessor uses or applies all or any portion of said Security Depositis so used, Lessee Tenant shall within ten five (105) days after written request therefore demand therefor, deposit monies with Lessor Landlord an amount sufficient to restore said the Security Deposit to the full its original amount required by and Tenant’s failure to do so shall be a material breach of this Lease. Any time the Base Rent increases during the term of this LeaseExcept to such extent, Lessee shallif any, upon written request from Lessoras shall be required by law, 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 Landlord shall not be required to keep all or any part of the Security Deposit separate from its general accountsfunds, and Tenant shall not be entitled to interest on such deposit. Lessor shallIf Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, 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 any balance thereof shall be considered returned 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 Tenant at such time after termination of this Lease when Landlord shall have determined that all of Tenant’s obligations under this LeaseLease have been fulfilled.

Appears in 1 contract

Samples: Lease (Desktop Metal, Inc.)

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