Deposit Defaults Sample Clauses

Deposit Defaults. If any default or Event of Default under the Lease (each ---------------- being a "Deposit Default") by Pledgor shall occur and be continuing, earnings accrued on the Security Deposit for Pledgor's benefit shall cease on notice of such Deposit Default to Pledgor. Pledgee may thereupon apply the Security Deposit and any Earnings (accrued to the date of such default notice), in such manner as Pledgee reasonably determines, towards the satisfaction of the Obligations, including the payment of all costs and expenses incurred by Pledgee as a result of any Deposit Default.