Use of a security deposit Clause Samples
The 'Use of a security deposit' clause defines how a landlord may utilize the tenant's security deposit during or after the lease term. Typically, this clause outlines permissible uses such as covering unpaid rent, repairing damages beyond normal wear and tear, or addressing other breaches of the lease agreement. Its core function is to protect the landlord against financial losses resulting from tenant actions, while also informing tenants of the specific circumstances under which their deposit may be withheld.
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Use of a security deposit. We may use your security deposit, and any interest earned on the security deposit, to offset any amount you owe under this contract or, unless your distribution entity bills you directly, under your customer connection contract with your distribution entity:
(a) if you fail to pay a bill and, as a result, we arrange for the disconnection of your
(b) in relation to a final bill (ie, the bill we issue when you vacate the premises, stop obtaining customer retail services from us at your premises or request that your premises be disconnected).
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:
(i) if you fail to pay a bill and as a result we arrange for the disconnection of your premises; or
(ii) in relation to a final bill (i.e. a bill we issue when you vacate the premises or when you stop purchasing energy from us at your premises or when you request that your premises be disconnected).
(b) If we use your security deposit or any accrued interest to offset amounts owed to us, we will advise you within 10 business days.
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 the agreement:
(i) if you fail to pay a ▇▇▇▇ and as a result we arrange for the disconnection of the supply address; or
(ii) in relation to a final ▇▇▇▇ (i.e. a ▇▇▇▇ we issue when you vacate the supply address or when you stop purchasing electricity from us at the supply address or when you request that the supply address be disconnected).
(b) If we use your security deposit or any accrued interest to offset amounts owed to us, we will advise you within 10 business days.
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 the Agreement: if you fail to pay a bill and as a result we arrange for the disconnection of the Supply Address; or in relation to a final bill.
(b) If we use your security deposit or any accrued interest to offset amounts owed to us, we will advise you within 10 business days.
Use of a security deposit. (a) We may use your security deposit, and any interest earned on the
(i) if you fail to pay a bill and as a result we arrange for the disconnection of your premises; or
(ii) in relation to a final bill (i.e. a bill we issue when you vacate the premises or when you stop purchasing energy from us at your premises or when you request that your premises be disconnected).
(b) If we use your security deposit or any accrued interest to offset amounts owed to us, we will advise you within 10 business days.
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 agreement:
(i) if you fail to pay a bill and as a result we arrange for the disconnection of your premises, once you no longer have a right of reconnection under clause 15(a); or
(ii) in relation to a final bill (i.e. a bill we issue when you vacate the premises or when you stop purchasing energy from us at your premises or when you request that your premises be disconnected).
(b) If we use your security deposit or any accrued interest to offset amounts owed to us, we will advise you and repay the balance of your security deposit to you within 10 business days.
Use of a security deposit. We may use your security deposit, and any interest earned on the security deposit, to offset any amount you owe under this contract:
Use of a security deposit. We may use your security deposit, and any interest earned on the security deposit, to offset any amount you owe under this contract: if you fail to pay a ▇▇▇▇ and as a result we arrange for the disconnection of the premises, once you no longer have a right of reconnection under clause 0; or in relation to a final ▇▇▇▇ (i.e. a ▇▇▇▇ we issue when you vacate the premises or when you stop purchasing electricity from us at the premises or when you request that the premises be disconnected). If we use your security deposit or any accrued interest to offset amounts owed to us, we will advise you and repay any balance of your security deposit within 10 business days. We must return your security deposit and any accrued interest in the following circumstances: you complete 1 years’ payment (in the case of residential customers) or 2 years’ payment (in the case of business customers) by the pay-by dates on our initial bills; or subject to clause 0 of this contract, you stop purchasing electricity at the relevant premises under this contract. If you do not give us any reasonable instructions, we will credit the amount of the security deposit, together with any accrued interest, to your next ▇▇▇▇.
Use of a security deposit. (a) We may use your sgcuriľD dgposiľ, and any interest earned on the sgcuriľD dgposiľ, to offset any amount you owe under this contract:
(i) if you fail to pay a bill and as a result we arrange for the disconnection of your premises; or
(ii) in relation to a final bill (i.e. a bill we issue when you vacate the premises or when you stop purchasing energy from us at your premises or when you request that your premises be disconnected).
(b) If we use your sgcuriľD dgposiľ or any accrued interest to offset amounts owed to us, we will advise you within 10 busingss daDs.
Use of a security deposit. (a) We may use your security deposit, and subject to clause 13.3 any interest earned on the security deposit, to offset any amount you owe under this contract as follows:
i. if you fail to pay a bill and as a result we arrange for the disconnection of, or restriction of supply to, your premises and you have no right or reconnection or restoration of supply; or
ii. in relation to a final bill (i.e. a bill we issue when you vacate the premises or when you stop purchasing electricity and hot water from us at your premises or when you request that your premises be disconnected).
(b) If we use your security deposit or any accrued interest to offset amounts owed to us, we will advise you within 10 business days.