Construction Security Deposit Clause Samples
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Construction Security Deposit. Tenant’s contractor shall provide a security deposit in the amount of $20,000.00 prior to the issuance of a building permit. Tenant’s contractor will be charged for any damages or other work that may be deemed necessary to ensure the safe orderly operation of the Airport and the charges will be deducted from Contractor’s security deposit. The security deposit will be returned to Tenant’s Contractor upon completion of the work, less any substantiated claims.
Construction Security Deposit. 1. A construction deposit of $5,000.00 per project is required. Forfeiture of security deposit may occur if damage to the Premises is such that it is identifiable to that Contractor and no effort is made on the Contractor’s part to rectify the problems.
Construction Security Deposit. The Operations Security Deposit may be applied to (i) the payment of liquidated damages payable by the Company under this Agreement and accrued interest thereon, and (ii) the payment of other Damages and interest that the Company shall be required to pay to JPS; provided that, in the case of the amounts described in sub-clauses (i), and (ii) above, if the Operations Security Deposit is insufficient to satisfy such amounts, then the Company shall immediately pay to JPS on demand the unsatisfied amounts. Upon termination of this Agreement, JPS shall be entitled to retain or collect, as the case may be, from the Operations Security Deposit and any interest accrued thereon, any damages or monies then due or reasonably expected to be due to JPS by the Company, and the remainder of the Operations Security Deposit and accrued interest thereon, if any, shall be paid or returned to the Company. If, upon the termination of this Agreement, there shall be any Dispute between the Company and JPS that has been referred to an expert for determination or is being arbitrated pursuant to the Agreement, then JPS shall deposit into an escrow account an amount from the Operations Security Deposit equal to the damages or monies that JPS, in its reasonable judgment, deems sufficient to satisfy any amount that may be due to JPS by reason of such Dispute. Upon settlement or resolution of the Dispute, the funds in such escrow account and accrued interest thereon shall be distributed in accordance with such settlement or resolution; provided that such distribution will not be considered full satisfaction of such Dispute unless the Parties so agree.
Construction Security Deposit. The Owner must pay a construction security deposit to a Saliena’s Representative prior to obtaining a Building Design Approval. The amount of the deposit is returned after the completion of the Construction Works and putting the Building into opera- tion, if all damage to the property of third parties, the seller of the Real Estate or ▇▇▇▇▇▇▇’s Representative’s property, that occurred during construction and opera- tion has been eliminated. The deposit amount is 3,000 EUR for one land plot. The amount of the deposit for one apartment property depends on the work to be done and is set at the reasonable discretion of the Saliena Representative.