Common use of Disposition of Security Deposit Clause in Contracts

Disposition of Security Deposit. If Landlord shall so use, apply or ------------------------------- retain the whole or any part of the security, Tenant shall upon demand immediately deposit with Landlord a sum equal to the amount so used, applied or retained, as security as aforesaid. If Tenant shall fully and faithfully comply with all of Tenant's covenants and obligations under this Lease, the security or any blance thereof shall be returned or paid over to Tenant after the date on which this Lease shall expire or sooner end or terminate. In the event of any sale of Landlord's interest in the Building or an leasing of the Building, whether or not in connection with a sale or leasing of the Land, Landlord shall have the right to transfer the security to the vendee or lessee and Landlord shall thereupon be released by Tenant from all liability for the return or payment thereof; and Tenant shall look solely to the new landlord for the return or payment of the same; and the provisions hereof shall apply to every transfer or assignment made of the same to a new land lord. Tenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as security and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

Disposition of Security Deposit. If Landlord shall so use, apply or ------------------------------- retain the whole or any part of the securitySecurity Deposit, Tenant shall upon demand immediately deposit with Landlord a sum equal to the amount so used, applied or retained, as security as aforesaidsecurity. If Tenant shall fully and faithfully comply with all of Tenant's covenants and obligations under this Lease, the security Security Deposit or any blance balance thereof shall be returned or paid over to Tenant within thirty (30) days after the date on which this Lease shall expire or sooner end or terminate. In the event of any sale of Landlord's interest in the Building or an leasing any master lease of the BuildingBuilding by Landlord to a third party, whether or not in connection with a sale or leasing of the Land, Landlord shall have the right to either transfer the security Security Deposit to the vendee or master lessee and or the vendee or master lessee shall assume Landlord's obligations under this Lease in respect of the Security Deposit. Upon transfer of the Security Deposit to the vendee or master lessee, Landlord shall thereupon be released by Tenant from all liability for the return or payment thereof; and if the vendee or master lessee expressly assumes Landlord's obligations in respect of the Security Deposit, Tenant shall look solely to the new landlord for the return or payment of the same; and . Further, the provisions hereof shall apply to every transfer or assignment made of the same to a new land lordlandlord. Tenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as security and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

Disposition of Security Deposit. If Landlord shall so use, apply or ------------------------------- retain the whole or any part of the security, Tenant shall upon demand immediately deposit with Landlord a sum equal to the amount so used, applied or retained, as security as aforesaid. If Tenant shall fully and faithfully comply with all of Tenant's covenants and obligations under this Lease, the security or any blance balance thereof shall be returned or paid over to Tenant after the date on which this Lease shall expire or sooner end or terminate. In the event of any sale of Landlord's interest in the Building or an any leasing of the Building, whether or not in connection with a sale or leasing of the Land, Landlord shall have the right to transfer the security to the vendee or lessee and Landlord shall thereupon be released by Tenant from all liability for the return or payment thereof; and Tenant shall look solely to the new landlord for the return or payment of the same; and the provisions hereof shall apply to every transfer or assignment made of the same to a new land lordlandlord. Tenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as security and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

Disposition of Security Deposit. If Landlord shall so use, apply or ------------------------------- retain the whole or any part of the securitySecurity Deposit as provided in Section 7.1 following an Event of Default, Tenant shall upon demand immediately deposit with Landlord a sum equal to the amount so used, applied or retained, as security as aforesaidsecurity. If Tenant shall fully and faithfully comply with all of Tenant's ’s covenants and obligations under this Lease, including without limitation Tenant’s obligations upon expiration or earlier termination of this Lease, the security Security Deposit or any blance balance thereof shall be returned or paid over to Tenant within the time period prescribed under then-applicable California law after the date on which this Lease shall expire expires or sooner end or terminateterminates. In the event of any sale of Landlord's ’s interest in the Building or an leasing any master lease of the BuildingBuilding by Landlord to a third party, whether or not in connection with a sale or leasing of the Land, Landlord shall have the right to either transfer the security Security Deposit to the vendee or master lessee and the vendee or master lessee shall assume Landlord’s obligations under this Lease in respect of the Security Deposit. Upon transfer of the Security Deposit to the vendee or master lessee, Landlord shall thereupon be released by Tenant from all liability for the return or payment thereof; and if the vendee or master lessee expressly assumes Landlord’s obligations in respect of the Security Deposit, Tenant shall look solely to the new landlord for the return or payment of the same; and . Further, the provisions hereof shall apply to every transfer or assignment made of the same to a new land lordlandlord. Tenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as security and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

Disposition of Security Deposit. If Landlord shall so use, apply or ------------------------------- retain the whole or any part of the securitySecurity Deposit, Tenant shall upon demand immediately deposit with Landlord a sum equal to the amount so used, applied or retained, as security as aforesaid. If Tenant shall fully and faithfully comply with all of Tenant's covenants and obligations under this Lease, the security or any blance balance thereof shall be returned or paid over to Tenant after the date on which this Lease shall expire or sooner end or terminate. In the event of any sale of Landlord's interest in the Building or an any leasing of the Building, whether or not in connection with a sale or leasing of the Land, Landlord shall have the right to transfer the security to the vendee or lessee and upon written assumption by such vendee or lessee of Landlord's obligations under this Lease, including without limitation the obligation to return the Security Deposit to Tenant, Landlord shall thereupon be released by Tenant from all liability for the return or payment thereof; and Tenant shall look solely to the new landlord for the return or payment of the same; and the provisions hereof shall apply to every transfer or assignment made of the same to a new land lordlandlord. Except in connection with a permitted assignment or subletting of this Lease, Tenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as security and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.