Examples of Removal Security in a sentence
Operating & Maintenance Expenses Payroll Supplies Contracts Operating and Maintenance Rent Free Unit Garbage and Trash Removal Security Payroll/Contract (incl taxes and benefits) Security Rent Free Unit Heating/Cooling Repairs & Maintenance Snow Removal Vehicle/Maintenance Equipment Operation & Repairs Miscellaneous Operating & Maintenance Expense Subtotal: Operating0V.
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Landlord and Tenant agree that the amount of the Removal Security for the Subject Alterations shall be $3,324,143.00.
Any such cash proceeds that are not expended on Restoration shall be deposited with a financial institution selected by Landlord and satisfactory to Tenant, in its reasonable judgment, in a segregated, interest-bearing account, labeled "VIVUS Removal Security Account," and shall be held in trust for the purposes set forth herein and in the Lease.
Authorized by: Date: Time: Title: Person Removing: Security Officer Verifying: Signature:Date of Removal: Time of Removal: Security Officer Name: Signature:Turn in this slip to Security upon departure with items listed.Rev.
In the event Landlord is entitled to draw on the Letter of Credit, Landlord shall only be entitled to draw up to the net amount required by Landlord to perform that portion of the Restoration work that Tenant failed to perform, after application by Landlord of any cash security deposit (provided such cash security deposit is not required to cure any other default by Tenant) or cash Removal Security (including accrued interest) held by Landlord.
Simultaneously with the execution of this Agreement, Tenant shall deliver to and deposit with Landlord the Removal Security set forth in Paragraph 1 consisting of an irrevocable standby letter of credit, substantially in the form of Exhibit B attached hereto and incorporated herein (such letter of credit and any replacement or additional letters of credit are hereinafter referred to as the "Letter of Credit").
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Landlord shall not be entitled to draw on the Letter of Credit unless either: (a) Tenant has failed timely to renew the expiring Letter of Credit in accordance with the provisions of Section 2(b) of this Agreement; or (b) Tenant has failed to perform its Restoration obligations under the Lease and this Agreement, and the cash Removal Security, if any, held by Landlord is not sufficient to cover the damages likely to be incurred by Landlord as a result of such failure.
Any additional Letter of Credit that may be delivered to Landlord as Removal Security in connection with future Alterations shall also be substantially in the form of Exhibit B.