Existing Security Deposit Clause Samples
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Existing Security Deposit. In connection with the Existing Lease (as hereinafter defined in Section 44) Landlord is currently holding a security deposit in the amount of $35.550 (the “Existing Security Deposit”). The Existing Security Deposit shall continue to be held by Landlord pursuant to the terms and conditions of Section 6 of the Existing Lease, until such time that the Existing Security Deposit is returned to Tenant, pursuant to the terms and conditions of this Section 6. Within ten (10) business days of Landlord’s receipt of the LC (as described in Section 45 hereof), Landlord shall return the Existing Security Deposit to Tenant.
Existing Security Deposit. Upon receipt of an acceptable Original Letter of Credit, Landlord shall return to Tenant the cash security deposit Landlord is currently holding, and existing Section 4.4 of the Lease shall be deleted and of no farther force or effect.
Existing Security Deposit. Tenant acknowledges that Landlord holds a security deposit pursuant to the terms of the Lease in the amount of Twenty-Five Thousand and No/100 Dollars ($25,000.00) (the "Existing Security Deposit"). Landlord, New Tenant and Tenant acknowledge and agree that provided Tenant (a) is not in default under the Lease beyond any applicable cure period, and (b) fully and timely complies with the terms of this Agreement, including, without limitation, Tenant's surrender obligations, the Existing Security Deposit shall be retained by Landlord pursuant to the terms of Section 3.3 of the New Lease.
Existing Security Deposit. The parties hereto acknowledge that Landlord is currently holding a security deposit in the amount of $26,575.00 and shall continue to hold such deposit in accordance with the terms of the Lease during the New Extended Term. As of the date hereof, Paragraph 39 of Addendum I to the Lease shall be void and of no further force and effect.