Common use of CAUTION MONEY Clause in Contracts

CAUTION MONEY. 4.1 The Student hereby authorises the College to deduct from the Caution Money: 4.1.1 any rents (and interest thereon) due under this Agreement and not paid by the due date; 4.1.2 any late payment fee as referred to in clause 3.2 above; 4.1.3 the cost of repairing any damage to the Property caused during the Tenancy Period; 4.1.4 the cost of replacing any item in the Property which is beyond reasonable repair; and 4.1.5 any expenses or costs incurred by the College in consequence of any failure by the Student to observe and perform the obligations and conditions of the Student in this Agreement.