Partial Refund of Security Deposit Sample Clauses

Partial Refund of Security Deposit. Pursuant to the Lease, Tenant has delivered to Landlord the sum of $6,819.68 as a Security Deposit. As a result of the reduction in Rentable Area of the Premises, and the reduction in the monthly installment of the Basic Annual Rent, Tenant is entitled to a partial refund of the Security Deposit upon the terms and conditions set forth in this Section 3. As soon after the Effective Date as Landlord is reasonably able to confirm that Tenant has compiled with the conditions precedent to the Cancellation of Amendment No. 1, the Security Deposit shall be reduced to $4,918.88 and Landlord shall immediately thereafter refund to Tenant the sum of $1,900.80, representing the difference between the amount of the Security Deposit held by Landlord and the revised amount of the Security Deposit as determined in this Section 3.
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Partial Refund of Security Deposit. DOWN PAYMENT. Within five days of execution of this Agreement, Bruker will refund to HP, by wire transfer, the balance of the security deposit / down payment, including accrued interest, except Bruker will retain [*] as the security deposit/down payment for the first [*] units of the Gemini MS . Thereafter, Bruker will pay HP interest within 30 days after the end of each HP Fiscal Quarter on any amounts that Bruker retains as a security deposit/down payment during such quarter. The interest rate for computing interest for such quarter will be the average of the LIBOR one-year index for such quarter divided by four.
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Partial Refund of Security Deposit. On the second anniversary of the Measurement Date, provided the Lessee has complied with all terms and conditions of this Lease, including, without limitation, the timely payment of all installments of Rent and further provided that no default has occurred under the Lease and no event that with the delivery of notice, the passage of time or both would constitute a default hereunder, Lessor will apply Fifty Thousand and 00/100ths Dollars ($50,000.00) of the Security Deposit against Lxxxxx’s next installment(s) of Rent to be paid hereunder and thereby reduce the Security Deposit to One Hundred Thousand and 00/100ths Dollars ($100,000.00). On the fourth anniversary of the Measurement Date, provided the Lessee has complied with all terms and conditions of this Lease, including, without limitation, the timely payment of all installments of Rent and further provided that no default has occurred under the Lease and no event that with the delivery of notice, the passage of time or both would constitute a default hereunder, Lessor will apply Twenty-Five Thousand and 00/100ths Dollars ($25,000.00) of the Security Deposit against Lxxxxx’s next installment of Rent to be paid hereunder and thereby reduce the Security Deposit to Seventy-Five Thousand and 00/100ths Dollars ($75,000.00). Any difference between the Rent amount due and payable by Lessee hereunder and the amount of the Security Deposit to be applied by Lessor under this Section 5.2, if any, shall be paid in full by Lessee on the due date therefor. Following the application of any portion of the Security Deposit by Lessor under this Section 5.2, the reduced amount of such deposit shall constitute the “Security Deposit” under this Lease and shall be held by the Lessor for the remainder of the Term in accordance with the terms of this Lease.
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Related to Partial Refund of Security Deposit

  • Return of Security Deposit (a) We must return your security deposit and any accrued interest in the following circumstances:

  • Security Deposit Not later than December 31, 2007, Tenant agrees to deposit with Landlord, the sum of $95,000.00 to be held by Landlord as security for the faithful performance of all the terms and conditions of this Lease (“Security Deposit”). Should the Tenant breach any of the terms and conditions of this Lease which continues beyond any applicable cure period and required notice, Landlord shall have the right, at any time, to apply the Security Deposit or any part thereof, for the purpose of curing any such default or for the purpose of reimbursing Landlord for any damage or costs occasioned by such default, but the right of Landlord to apply the Security Deposit shall not affect any other remedies available to Landlord under this Lease or under applicable law. If the Security Deposit, or any part thereof, is so applied by Landlord, Tenant shall, within ten (10) days after demand, deposit additional funds with Landlord to restore the Security Deposit, and failure to do so shall constitute an event of default under this Lease. If the Tenant shall have complied with all material terms and conditions of this Lease at the expiration of this Lease, the Security Deposit (without interest and amounts properly withdrawn by Landlord and not refunded by Tenant) shall be refunded to Tenant within thirty (30) days after the expiration or sooner termination of this Lease (including without limitation permitted terminations hereunder and terminations due to Landlord’s default which continues beyond applicable grace and cure periods following notice where applicable); provided, however, that Tenant first shall have vacated the Leased Space and surrendered possession thereof to the Landlord by delivery of keys, in accordance with the Lease provisions and shall have returned the Leased Space to Landlord in the condition required hereunder. Nothing herein contained shall require Landlord to hold the sums so deposited as a trust fund, nor establish any relationship other than that of debtor and creditor with respect to said funds so deposited. If Landlord shall assign or otherwise transfer its interest in this Lease, Landlord shall transfer the Security Deposit to the assignee or other transferee of such interest (with like obligation to transfer to any subsequent assignee or other transferee), and upon such transfer, Landlord shall be released and relieved from all liability and/or responsibility with respect to this Security Deposit and/or the return or application thereof.

  • Additional Security Deposit No additional security deposit shall be required in connection with this Amendment.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • Rent and Security Deposit (if applicable). Renter will pay the Town a rental fee of $ at the signing of this Rental Agreement. Renter will also pay the Town a security deposit of $ at the signing of this Rental Agreement.

  • Recording of Security Instrument, etc Borrower forthwith upon the execution and delivery of this Security Instrument and thereafter, from time to time, will cause this Security Instrument and any of the Other Security Documents creating a lien or security interest or evidencing the lien hereof upon the Property and each instrument of further assurance to be filed, registered or recorded in such manner and in such places as may be required by any present or future law in order to publish notice of and fully to protect and perfect the lien or security interest hereof upon, and the interest of Lender in, the Property. Borrower will pay all taxes, filing, registration or recording fees, and all expenses incident to the preparation, execution, acknowledgment and/or recording of the Note, this Security Instrument, the Other Security Documents, any note or mortgage supplemental hereto, any security instrument with respect to the Property and any instrument of further assurance, and any modification or amendment of the foregoing documents, and all federal, state, county and municipal taxes, duties, imposts, assessments and charges arising out of or in connection with the execution and delivery of this Security Instrument, any mortgage supplemental hereto, any security instrument with respect to the Property or any instrument of further assurance, and any modification or amendment of the foregoing documents, except where prohibited by law so to do.

  • Extension of Lease Term The Original Lease Term is hereby extended for a period of eighteen (18) months continuing through and including November 30, 2022 (the “Extension Term” and the Original Lease Term as so extended by the Extension Term, the “Lease Term”).

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Assignment of Space a. This Contract is for an assigned space in a residence hall and not for a specific room or bed. This Contract is not a lease agreement.

  • Payment By Landlord; Interest Upon a Default by Tenant hereunder, Landlord may, without waiving or releasing any obligation of Tenant hereunder, make such payment or perform such act. All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the highest rate permitted by law (the “Default Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed to create or impose a duty on Landlord to mitigate any damages resulting from Tenant’s Default hereunder.

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