Common use of Application of Security Clause in Contracts

Application of Security. If an Event of Default by Tenant occurs in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, Landlord may apply or retain the whole or any part of the cash Security Deposit and, in addition, notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit represented by the Letter of Credit and use, apply or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Rent or any other sum as to which Tenant is in default including (i) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (ii) any damages to which Landlord is entitled pursuant to this Lease, whether such damages accrue before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts of the Security Deposit held by Landlord shall be held by Landlord without interest and may be commingled with Landlord's other funds.

Application of Security. If an Event of Default by Tenant occurs defaults, beyond the applicable notice and/or cure period, if any, in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, Landlord may use, apply or retain the whole or any part of the cash Security Deposit and, in addition, or may notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit represented by the Letter of Credit Credit, and use, apply apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Rent or any other sum as to which Tenant is in default default, including (i) any sum which Landlord may expend or may be required to expend by reason of Tenant's ’s default, and/or and (ii) any damages or Deficiency to which Landlord is entitled pursuant to this LeaseLease or applicable Requirements, whether such damages or Deficiency accrue before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord uses, applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains) shall be returned to Tenant promptly within thirty (30) days after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease, but if Tenant shall not have so complied, then the Security Deposit (or so much thereof as remains) shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease, within thirty (30) days after all defaults under this Lease are cured and there are no amounts due and payable to Landlord hereunder. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by Landlord shall be held by Landlord without interest and may be commingled with Landlord's other fundsagainst any of Tenant’s obligations to pay Rent hereunder.

Application of Security. If an Event of Default by Tenant occurs defaults in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, Landlord may use, apply or retain the whole or any part of the cash Security Deposit and, in addition, or may notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit represented by the Letter of Credit Credit, and use, apply apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Rent or any other sum as to which Tenant is in default default, including (i) any sum which Landlord may expend or may be required to expend by reason of Tenant's ’s default, and/or and (ii) any damages or Deficiency to which Landlord is entitled pursuant to this LeaseLease or applicable Requirements, whether such damages accrue or Deficiency accrues before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord uses, applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains) shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by Landlord shall be held by Landlord without interest and may be commingled with Landlord's other fundsagainst any of Tenant’s obligations to pay Rent hereunder.

Application of Security. If an Event of Default by Tenant occurs defaults in the payment or performance respect of any of the terms, covenants or conditions of this Lease, including including, the payment of Rent, Landlord may apply or retain the whole or any part of the cash Security Deposit and, in addition, security so deposited or may notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit monies represented by the Letter of Credit and use, apply apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (i) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (ii) any damages to which Landlord is entitled pursuant to this Leaseor deficiency in the relenting of the Premises, whether such damages or deficiency accrue or accrues before or after summary proceedings or other reentry by Landlord. If Landlord shall hold applies or retains any part of the cash security or proceeds of the Letter of Credit, to as the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies any part of the Security Depositcase may be, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit cash security or Letter of Credit, as the case may be, shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by against any of Tenant's obligations to pay Rent hereunder and, if Tenant shall seek to so apply such Security Deposit, Tenant shall pay liquidated damages to Landlord shall be held by Landlord without interest and may be commingled with Landlord's other fundsin a sum equal to two times the amount of any such unpaid Rent.

Application of Security. If (a) an Event of Default by Tenant ----------------------- occurs in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, and which includes any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may apply or retain the whole or any part of the cash Security Deposit and, in addition, or may notify the Issuing Bank and thereupon receive all or a such portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (ia) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (iib) any damages or Deficiency to which Landlord is entitled pursuant to this LeaseLease or applicable Requirements, whether such damages accrue or Deficiency accrues before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the terms, covenants and conditions of this Lease) shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by Landlord shall be held by Landlord without interest and may be commingled with Landlordagainst any of Tenant's other fundsobligations to pay Rent hereunder.

Application of Security. If (a) an Event of Default by Tenant occurs in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or (b) Tenant fails to make any installment of Rent as and when due, Landlord may apply or retain the whole or any part of the cash Security Deposit and, in addition, notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit represented by the Letter of Credit and use, apply or retain the whole or any part of such proceeds, as the case may beDeposit, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (i) any sum which Landlord may expend or may be required to expend by reason of Tenant's ’s default, and/or (ii) any damages to which Landlord is entitled pursuant to this Lease, whether such damages accrue before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, The Security Deposit (less any sums Landlord is permitted to deduct from the Security Deposit pursuant to the terms of this Section 27.2) shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant hereby irrevocably waives and relinquishes any and all rights, benefits, or protections, if any, Tenant now has, or in the future may have, under Section 1950.7 of the California Civil Code, any successor statue, and all other provisions of law, now or hereafter in effect, including, but not limited to, any provision of law which (A) establishes the time frame by which a landlord must refund a security deposit under a lease, or (B) provides that a 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 a tenant, or to clean the subject premises. Tenant acknowledges and agrees that that (I) any statutory time frames for the return of a security deposit are superseded by the express period identified in this Section 27.2, above, and (II) rather than be so limited, Landlord may claim from the Security Deposit held (1) any and all sums expressly identified in this Article 27, above, and (2) any additional sums reasonably necessary to compensate Landlord for any and all losses or damages caused by Landlord shall be held by Landlord without interest and may be commingled with Landlord's other fundsTenant’s default of this Lease, including, but not limited to, all damages or rent due upon termination of this Lease pursuant to Section 1951.2 of the California Civil Code.

Application of Security. If an Event of Default by Tenant occurs defaults beyond applicable notice and cure periods in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, Landlord may apply or retain the whole or any part of the cash Security Deposit and, in addition, or may notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit represented by the Letter of Credit and use, apply or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default default, including (ia) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (iib) any damages or Deficiency to which Landlord is entitled pursuant to this LeaseLease or applicable Requirements, whether such damages accrue or Deficiency accrues before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains) shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by Landlord shall be held by Landlord without interest and may be commingled with Landlordagainst any of Tenant's other fundsobligations to pay Rent hereunder.

Application of Security. If (a) an Event of Default by ----------------------- Tenant occurs in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, or any payment default following Tenant's bankruptcy as to which no notice or cure is required, or (b) Landlord receives a Non-Renewal Notice and Tenant does not provide a substitute Letter of Credit satisfying the requirements of Section 33.2 within ten (10) Business Days following the date of such Non-Renewal Notice, Landlord may apply or retain the whole or any part of the cash Security Deposit and, in addition, or may notify the Issuing Bank and thereupon receive all or a such portion of the Security Deposit represented by the Letter of Credit as is then, and so long as such Event of Default is continuing, thereafter needed for the uses hereinbelow authorized, and use, apply apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (ia) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (iib) any damages or Deficiency to which Landlord is entitled pursuant to this LeaseLease or applicable Requirements, whether such damages accrue or Deficiency accrues before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains after Landlord has been adequately compensated for damages due to Tenant's failure to comply fully with the terms, covenants and conditions of this Lease) shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by Landlord shall be held by Landlord without interest and may be commingled with Landlordagainst any of Tenant's other fundsobligations to pay Rent hereunder.

Application of Security. If an Event of Default by Tenant occurs defaults in the payment or performance of any of the terms, covenants or conditions of this Lease, including the payment of Rent, Landlord may use, apply or retain the whole or any part of the cash Security Deposit and, in addition, or may notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit represented by the Letter of Credit Credit, and use, apply apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Rent or any other sum as to which Tenant is in default default, including (i) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or and (ii) any damages or Deficiency to which Landlord is entitled pursuant to this LeaseLease or applicable Requirements, whether such damages accrue or Deficiency accrues before or after summary proceedings or other reentry by Landlord. Landlord shall hold the proceeds of the Letter of Credit, to the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord uses, applies or retains any part of the Security Deposit, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit (or so much thereof as remains, if any) shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by Landlord shall be held by Landlord without interest and may be commingled with Landlordagainst any of Tenant's other fundsobligations to pay Rent hereunder.

Application of Security. If an Event of Default by Tenant occurs defaults in the payment or performance respect of any of the terms, covenants or conditions of this Lease, including the payment of Rent, Landlord may apply or retain the whole or any part of the cash Security Deposit and, in addition, security so deposited or may notify the Issuing Bank and thereupon receive all or a portion of the Security Deposit monies represented by the Letter of Credit and use, apply apply, or retain the whole or any part of such proceeds, as the case may be, to the extent required for the payment of any Fixed Rent or any other sum as to which Tenant is in default including (i) any sum which Landlord may expend or may be required to expend by reason of Tenant's default, and/or (ii) any damages to which Landlord is entitled pursuant to this Leaseor deficiency in the reletting of the Premises, whether such damages or deficiency accrue or accrues before or after summary proceedings or other reentry by Landlord. If Landlord shall hold applies or retains any part of the cash security or proceeds of the Letter of Credit, to as the extent not immediately applied, as an additional cash portion of the Security Deposit for application, when required, as herein provided. If Landlord applies any part of the Security Depositcase may be, Tenant, upon demand, shall deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. If Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit cash security or Letter of Credit, as the case may be, shall be returned to Tenant promptly after the Expiration Date and after delivery of possession of the Premises to Landlord in the manner required by this Lease. Any amounts Tenant expressly agrees that Tenant shall have no right to apply any portion of the Security Deposit held by against any of Tenant's obligations to pay Rent hereunder and, if Tenant shall seek to so apply such Security Deposit, Tenant shall pay liquidated damages to Landlord shall be held by Landlord without interest and may be commingled with Landlord's other fundsin a sum equal to two times the amount of any such unpaid Rent.