Common use of Security Deposit Account Clause in Contracts

Security Deposit Account. Manager shall comply with all applicable laws with respect to security deposits paid by tenants. All security deposit funds held by Manager shall at all times be the property of Owner, subject to all applicable laws with respect thereto. Upon commencement of this Agreement, the Owner authorizes the Manager to make withdrawals therefrom for the purpose of returning them as required by the lease or by existing law.

Security Deposit Account. Manager shall comply with all applicable laws with respect to security deposits paid by tenantsreceived from tenants in respect of the Property. All security deposit funds held by Manager shall at maintain records of all times be security deposits deposited, and shall return such security deposits to any tenant in the property ordinary course of Owner, subject to all business in accordance with the terms of the applicable laws with respect thereto. Upon commencement of this Agreement, the Owner authorizes the Manager to make withdrawals therefrom for the purpose of returning them as required by the lease or by existing lawlease.

Security Deposit Account. Manager shall comply with all applicable laws with respect to security deposits paid by tenants. All security deposit funds held by Manager shall at all times be the property of Owner, subject to all applicable laws with respect thereto. Upon commencement of this Agreement, the Owner authorizes the Manager to make withdrawals therefrom for the purpose of returning them as required by the lease or by existing law.