Common use of Room Deposit Clause in Contracts

Room Deposit. 5.1 The Occupant will pay a Room Deposit to the University that will be held on behalf of the Occupant during the term of this Agreement. 5.2 The Room Deposit shall be paid to the Occupant in full within four (4) to six (6) weeks after expiry or termination of this Agreement provided that the Occupant: 5.2.1 has left the room in a clean and habitable condition without having caused damages to the furniture, fittings or equipment of the Room; and 5.2.2 has not accrued any outstanding charges or arrears owed to the University in relation to the use of the Room, Facility and Services. 5.3 The University shall be entitled to deduct from the Room Deposit all amounts owed to the University for arrears of the Tariff, charges and other amounts reasonably necessary to restore the Room to a clean, habitable and undamaged condition 5.4 If the amount of the Room Deposit is insufficient to return the Room to a clean, habitable and undamaged condition and/or the Room Deposit is insufficient to cover arrears and outstanding charges, the Occupant shall be liable for such amount(s) and agrees to reimburse the University. 5.5 The University shall also be entitled to deduct any amount from the Room deposit to recover debts owed by the Occupant to the Facility at the termination of this agreement. 5.6 The Occupant acknowledges that no interest earned on the Room Deposit shall be paid to the Occupant.

Room Deposit. 5.1 The Occupant will pay a Room Deposit to the University that will be held on behalf of the Occupant during the term of this Agreement. 5.2 The Room Deposit shall be paid to the Occupant in full within four (4) to six (6) weeks after expiry or termination of this Agreement provided that the Occupant: 5.2.1 has left the room in a clean and habitable condition without having caused damages to the furniture, fittings or equipment of the Room; and 5.2.2 has not accrued any outstanding charges or arrears owed to the University in relation to the use of the Room, Facility and Services. 5.3 The University shall be entitled to deduct from the Room Deposit all amounts owed to the University for arrears of the Tariff, charges and other amounts reasonably necessary to restore the Room to a clean, habitable and undamaged condition 5.4 If the amount of the Room Deposit is insufficient to return the Room to a clean, habitable and undamaged condition and/or the Room Deposit is insufficient to cover arrears and outstanding charges, the Occupant shall be liable for such amount(s) and agrees to reimburse the University. 5.5 The University shall also be entitled to deduct any amount from the Room deposit to recover debts owed by the Occupant to the Facility at the termination of this agreement. 5.6 The Occupant acknowledges that no interest earned on the Room Deposit shall be paid to the Occupant.

Room Deposit. 5.1 The Occupant will pay a Room Deposit to the University that will be held on behalf of the Occupant during the term of this Agreement. 5.2 The Room Deposit shall be paid to the Occupant in full within four (4) to six (6) weeks after expiry or termination of this Agreement provided that the Occupant: 5.2.1 has left the room in a clean and habitable condition without having caused damages to the furniture, fittings or equipment of the Room; and 5.2.2 has not accrued any outstanding charges or arrears owed to the University in relation to the use of the Room, Facility and Services. 5.3 The University shall be entitled to deduct from the Room Deposit all amounts owed to the University for arrears of the TariffOccupancy Fee, charges and other amounts reasonably necessary to restore the Room to a clean, habitable and undamaged condition 5.4 If the amount of the Room Deposit is insufficient to return the Room to a clean, habitable and undamaged condition and/or the Room Deposit is insufficient to cover arrears and outstanding charges, the Occupant shall be liable for such amount(s) and agrees to reimburse the University. 5.5 The University shall also be entitled to deduct any amount from the Room deposit to recover debts owed by the Occupant to the Facility at the termination of this agreement. 5.6 The Occupant acknowledges that no interest earned on the Room Deposit shall be paid to the Occupant.