DEPOSIT FOR SECURITY Clause Samples
DEPOSIT FOR SECURITY. Tenant shall deposit with Landlord the amount of Forty Thousand Nine Hundred Twenty-Five Dollars and Seventy Cents ($40,925.70) (the “Security Deposit”) upon Tenant’s execution and delivery of this Lease to Landlord. The Security Deposit shall serve as security for the prompt, full, and faithful performance by Tenant of the terms and provisions of this Lease, including the value of future rents as damages in accordance with California Civil Code § 1951.2, as set forth in § 20.3 below. Landlord shall not be required to keep the Security Deposit separate from Landlord’s general funds or pay interest on the Security Deposit.
DEPOSIT FOR SECURITY. Tenant shall deposit with Landlord an irrevocable sight-draft, on-demand letter of credit in the amount of Seven Hundred and Seventy Thousand Dollars ($770,000.00) (the “Security Deposit”) upon Tenant’s execution and submission of this Lease. The letter of credit shall be in a form and drawn upon an institution reasonably acceptable to Landlord. The letter of credit shall specify that it shall remain in force and be renewed annually automatically during the Term of the Lease, unless Landlord shall have received not less than thirty (30) days’ days written notice of cancellation or nonrenewal by the issuer, in which case Tenant shall substitute a new letter or credit on or before the expiration or cancellation of the existing letter of credit. The Security Deposit shall serve as security for the prompt, full, and faithful performance by Tenant of the terms and provisions of this Lease, including the value of future rents as damages in accordance with California Civil Code § 1951.2, as set forth in § 20.3 below. Landlord shall not be required to keep the Security Deposit separate from Landlord’s general funds or pay interest on the Security Deposit.
DEPOSIT FOR SECURITY. Tenant shall deposit with Landlord the amount of Five Thousand Six Hundred Sixty-One Dollars and Sixty Cents ($5,661.00) (the “Security Deposit”) upon Tenant’s execution and submission of this Lease. The Security Deposit shall serve as security for the prompt, full, and faithful performance by Tenant of the terms and provisions of this Lease. Landlord shall not be required to keep the Security Deposit separate from Landlord’s general funds or pay interest on the Security Deposit.
DEPOSIT FOR SECURITY. Tenant shall deposit with Landlord the amount of Eighty Thousand Dollars ($80,000.00) (the “Security Deposit”) upon Tenant’s execution and submission of this Lease. The Security Deposit shall serve as security for the prompt, full, and faithful performance by Tenant of the terms and provisions of this Lease. Landlord shall not be required to keep the Security Deposit separate from Landlord’s general funds or pay interest on the Security Deposit. Tenant shall have the right to give Landlord an irrevocable, on-demand, sight-draft letter of credit in lieu of cash for the Security Deposit, subject to Landlord’s approval of the issuing financial institution and the form of the letter of credit, which approval shall not be unreasonably withheld, conditioned, or delayed.
DEPOSIT FOR SECURITY. Tenant shall deposit with Landlord the amount of Seventy-Seven Thousand Three Hundred Fifty-Nine Dollars and Eighteen Cents ($77,359.18) (the "Security Deposit") upon Tenant's execution and delivery of this Lease to Landlord in the form of the letter of credit described in S 5.1.1 below (the "LOC"). The Security Deposit shall serve as security for the prompt, full, and faithful performance by Tenant of the terms and provisions of this Lease, including the value of future rents as damages in accordance with California Civil Code S 1951.2, as set forth in S 20.3 below. Landlord shall not be required to keep the Security Deposit separate from Landlord's general funds or pay interest on the Security Deposit.