Examples of Security Deposit in a sentence
Landlord shall not be required to pay interest on the Security Deposit or keep the Security Deposit separate from its general funds.
Upon any Default by Txxxxx, Landlord may use the Security Deposit to the extent necessary to make good any arrears of sums payable by Tenant under this Lease, or to compensate Landlord for any damage, injury, expense or liability caused by Txxxxx’s Default.
Landlord shall transfer to the new owner the balance of the Security Deposit, if any, and, after notice to Tenant, Landlord shall be relieved of all future liability with respect to such Security Deposit.
For the purpose of this Agreement, the Security Deposit and the Utility Deposit shall be collectively referred to as the “Rental Deposits”.
The balance of the Security Deposit remaining at the end of the Lease Term shall be returned after all of Tenant’s obligations have been fulfilled.