Security Deposit; First Month’s Rent Clause Samples

The 'Security Deposit; First Month’s Rent' clause establishes the tenant’s obligation to pay a security deposit and the first month’s rent before moving into the rental property. Typically, this clause specifies the exact amounts due, the timing of payment (often before or at lease signing), and may outline how the security deposit will be held and under what conditions it may be withheld or returned. Its core function is to provide the landlord with financial assurance against potential damages or unpaid rent, while also clarifying the tenant’s upfront financial responsibilities at the start of the lease.
Security Deposit; First Month’s Rent. (a) Concurrently with the execution of this Amendment, Tenant shall, as security for the payment and performance of Tenant’s obligations under the Lease, deliver to Landlord a supplemental irrevocable standby letter of credit (the “Letter of Credit”), the form of which is attached hereto as Exhibit “C”, issued by Bank of America, N.A. (or such other financial institution acceptable to Landlord) with an initial stated amount of $1,574,462.00 (the “Stated Amount”). Nothing in this Section shall modify Tenant’s obligations with respect to any other letters of credit issued in favor of Landlord pursuant to the Lease. Provided that, as of the applicable “Reduction Date” set forth below, Tenant (i) has not previously committed an Event of Default which is not then continuing and (ii) is not then in a voluntary or involuntary bankruptcy proceeding and has not made an assignment for the benefit of creditors, and provided further that, on or prior to the applicable Reduction Date, Tenant tenders to Landlord a replacement Letter of Credit or an amendment to the existing Letter of Credit, conforming in all respects to the requirements of this Section, setting forth the applicable Stated Amount as of such Reduction Date, the Stated Amount shall be reduced in accordance with the following schedule: Reduction Date Stated Amount First day of the 25th month following the Expansion Space Commencement Date $ 1,265,102.00 First day of the 37th month following the Expansion Space Commencement Date $ 949,615.00
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Security Deposit; First Month’s Rent. Concurrent with the execution of this Sublease, Sublessee shall provide Sublessor with a security deposit in an amount equal to three month's monthly base rent ($30,640.00), which shall be refunded to Sublessee upon full satisfaction of the terms and conditions of this Sublease. In addition, Sublessee shall provide the first month's monthly base rent ($10,213.60) to Sublessor upon execution of this Sublease.
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Security Deposit; First Month’s Rent. Concurrently with Tenant’s delivery of this Amendment, Tenant shall deliver (i) the sum of $18,095.00 to Landlord, which sum shall be added to the Security Deposit presently being held by Landlord in accordance with Section 4.3 of the Lease, and (ii) an installment in the amount of 1 full month’s Basic Rent, at the initial rate specified in Section III.B.4 of this Amendment, and one month’s estimated Tenant’s Share of Operating Expenses, which shall be applied against the Basic Rent and Operating Expenses first due hereunder as to the 49 Discovery Premises.
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Security Deposit; First Month’s Rent. Tenant has previously deposited with Landlord $89,495.08 as a Security Deposit under the Lease. Concurrently with Tenant's execution of this Fifth Amendment, Tenant shall deposit with Landlord an additional $321,981.32, for a total security deposit of $411,476.40. Landlord shall continue to hold the Security Deposit, as increased by this Fifth Amendment, in accordance with the terms and conditions of Section 21 of the Original Lease. In addition, concurrently with Tenant's execution of this Lease, Tenant shall pay to Landlord Monthly Base Rent for the First Expansion Space for the third month of the First Expansion Space Term in the amount of $102,278.85 and shall pay Monthly Base Rent for the Second Expansion Space for the third month Second Expansion Space Term in the amount of $172,396.73.
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Security Deposit; First Month’s Rent. Upon signing this Lease, a security deposit and first month’s rent is required. As security, the security deposit, for ▇▇▇▇▇▇’s full and faithful performance of Tenant’s obligations under this Lease, is held in escrow at Community Bank of Ithaca, New York. Landlord shall have the right to retain and apply all or any portion of the security deposit toward
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Security Deposit; First Month’s Rent. Upon the execution hereof and receipt of Master Landlord’s written consent, Subtenant shall deposit with Sublandlord the sum of $10,698.95 as security for the full and faithful performance of every portion of this Sublease to be performed by Subtenant and shall be returned to Subtenant within ten (10) business days after November 30, 2017 less any damages as charged by Master Landlord and Sublandlord. If Subtenant shall remain in uncured default (subject to the expiration of any applicable notice and cure periods) with respect to any provision of this Sublease, Sublandlord may use, apply or retain all or any portion of this security deposit to remedy such default. If any portion of said deposit is so used or applied, Subtenant shall, as Additional Sublease Rent, within ten (10) days after demand therefor, deposit cash with Sublandlord in an amount sufficient to restore the security deposit to its correct amount and Subtenant’s failure to do so shall be a material breach of this Sublease. Sublandlord shall not be required to keep such security deposit separate from its general funds and Subtenant shall not be entitled to interest on such deposit. In addition, upon the execution hereof and receipt of Subtenant by Master Landlord’s written consent, Subtenant shall pay the monthly installment of Rent for month 1 of the sublease term; as due on the Commencement Date.
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Security Deposit; First Month’s Rent. To facilitate a smooth transition into Mill Pond Gables, we ask that you make an appointment to see the Housing Director the week before you move in to pay your rent, sign the lease, and complete a walk-through of your unit. Our office is open Monday-Friday 10:00 a.m. – 4:00 p.m. or by appointment. Please call ▇▇▇-▇▇▇-▇▇▇▇.
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Security Deposit; First Month’s Rent. Upon the Sublease Commencement Date, Sublessee shall provide Sublessor with a security deposit in the amount of $25,000.00, which shall be refunded to Sublessee upon full satisfaction of the terms and conditions of this Sublease. In addition, Sublessee shall pay to Sublessor first month's monthly base rent of $18,207.00 upon the Sublease Commencement Date.
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Security Deposit; First Month’s Rent 
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Related to Security Deposit; First Month’s Rent

  • Security Deposit 12.1 Tenant has deposited with Landlord the sum set forth in Section 2.6 the (“Security Deposit”), which sum shall be held by Landlord as security for the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the period commencing on the Execution Date and ending upon the expiration or termination of this Lease. If Tenant defaults with respect to any provision of this Lease, including, but not limited to, any provision relating to the payment of Rent, then Landlord may (but shall not be required to) use, apply or retain all or any part of the Security Deposit for the payment of any Rent or any other sum in default, or to compensate Landlord for any other loss or damage that Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, then Tenant shall, within ten (10) business days following demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount, and Tenant’s failure to do so shall be a material breach of this Lease. The provisions of this Article 12 shall survive the expiration or earlier termination of this Lease. TENANT HEREBY WAIVES THE REQUIREMENTS OF SECTION 1950.7 OF THE CALIFORNIA CIVIL CODE, AS THE SAME MAY BE AMENDED FROM TIME TO TIME. 12.2 In the event of bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for all periods prior to the tiling of such proceedings. 12.3 Landlord may deliver to any purchaser of Landlord’s interest in the Premises the funds deposited hereunder by Tenant, and thereupon Landlord shall be discharged from any further liability with respect to such deposit. This provision shall also apply to any subsequent transfers. 12.4 If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, then the Security Deposit, or any balance thereof, shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within thirty (30) days after the expiration or earlier termination of this Lease. 12.5 [Intentionally omitted] 12.6 If the Security Deposit shall be in cash. Landlord shall hold the Security Deposit in an account at a banking organization selected by Landlord; provided, however, that Landlord shall not be required to maintain a separate account for the Security Deposit, but may intermingle it with other funds of Landlord. Landlord shall be entitled to all interest and/or dividends, if any, accruing on the Security Deposit. Landlord shall not be required to credit Tenant with any interest for any period during which Landlord does not receive interest on the Security Deposit. 12.7 The Security Deposit may be in the form of cash, a letter of credit or any other security instrument acceptable to Landlord in its sole discretion. Tenant may at any time, except during Default (as defined below), deliver a letter of credit (the “L/C Security”) as the entire Security Deposit, as follows. 12.7.1 If Tenant elects to deliver L/C Security, then Tenant shall provide Landlord and maintain in full force and effect throughout the Term, a letter of credit in the form of Exhibit E issued by an issuer reasonably satisfactory to Landlord, in the amount of the Security Deposit, with an initial term of at least one year. If, at the Term Expiration Date, any Rent remains uncalculated or unpaid, then: (i) Landlord shall with reasonable diligence complete any necessary calculations; (ii) Tenant shall extend the expiry date of such L/C Security from time to time as Landlord reasonably requires; and (iii) in such extended period, Landlord shall not unreasonably refuse to consent to an appropriate reduction of the L/C Security. Tenant shall reimburse Landlord’s legal costs (as estimated by Landlord’s counsel) in handling Landlord’s acceptance of L/C Security or its replacement or extension. 12.7.2 If Tenant delivers to Landlord satisfactory L/C Security in place of the entire Security Deposit, Landlord shall remit to Tenant any cash Security Deposit Landlord previously held. 12.7.3 Landlord may draw upon the L/C Security, and hold and apply the proceeds in the same manner and for the same purposes as the Security Deposit, if: (i) an uncured Default (as defined below) exists; (ii) as of the date forty-five (45) days before any L/C Security expires (even if such scheduled expiry date is after the Term Expiration Date) Tenant has not delivered to Landlord an amendment or replacement for such L/C Security, reasonably satisfactory to Landlord, extending the expiry date to the earlier of (1) six (6) months after the then-current Term Expiration Date or (2) the date one year after the then-current expiry date of the L/C Security; (iii) the L/C Security provides for automatic renewals, Landlord asks the issuer to confirm the current L/C Security expiry date, and the issuer fails to do so within ten (10) business days; (iv) Tenant fails to pay (when and as Landlord reasonably requires) any bank charges for Landlord’s transfer of the L/C Security; or (v) the issuer of the L/C Security ceases, or announces that it will cease, to maintain an office in the city where Landlord may present drafts under the L/C Security. This paragraph does not limit any other provisions of this Lease allowing Landlord to draw the L/C Security under specified circumstances. 12.7.4 Tenant shall not seek to enjoin, prevent, or otherwise interfere with Landlord’s draw under L/C Security, even if it violates this Lease. Tenant acknowledges that the only effect of a wrongful draw would be to substitute a cash Security Deposit for L/C Security, causing Tenant no legally recognizable damage. Landlord shall hold the proceeds of any draw in the same manner and for the same purposes as a cash Security Deposit. In the event of a wrongful draw, the parties shall cooperate to allow Tenant to post replacement L/C Security simultaneously with the return to Tenant of the wrongfully drawn sums, and Landlord shall upon request confirm in writing to the issuer of the L/C Security that Landlord’s draw was erroneous. 12.7.5 If Landlord transfers its interest in the Premises, then Tenant shall at Tenant’s expense, within five (5) Business Days after receiving a request from Landlord, deliver (and, if the issuer requires. Landlord shall consent to) an amendment to the L/C Security naming Landlord’s grantee as substitute beneficiary. If the required Security changes while L/C Security is in force, then reliant shall deliver (and, if the issuer requires, Landlord shall consent to) a corresponding amendment to the L/C Security.

  • Rent and Security Deposit ▇▇▇▇▇▇ agrees to pay to Landlord at the offices of Landlord, or at such other place designated by Landlord, without any prior demand therefor and without any deduction or set-off whatsoever, as fixed annual rent (“Rent”), the following: a. Initial Term: $10,800 per annum, payable in equal monthly payments of $900 per month. b. Thereafter, for each successive year, the base rent shall be increased by 1.5% annually and the monthly payments shall be adjusted accordingly. c. Any payment to be made pursuant to the provisions of this Lease, including without limitation, Rent, which is not paid within 5 days after the date when such payment is due, shall be subject to a $50.00 late fee (the “Late Fee”). ▇▇▇▇▇▇ agrees to pay such Late Fee as Additional Rent. If the 5th day of the month falls on a weekend or holiday, then Tenant shall have until the next business day to pay Rent before incurring the Late Fee. d. Landlord acknowledges that ▇▇▇▇▇▇ has deposited with Landlord the sum of $1,800 as a security for the performance of Tenant’s obligations under this Lease (the “Security Deposit”). Landlord shall deposit the same in the manner required by law. If tenant fails to make any payments of Rent, or defaults under any of its other obligations under this Lase, Landlord may use the Security Deposit in payment of such Rent or in payment of any sums Landlord may be forced to spend because of Tenant’s default. If Landlord does so use the Security Deposit, then he or she shall notify Tenant in writing of the amount so used and, if used before the end of the Term, Tenant shall, within 15 days, forward a like amount to the Landlord. Accordingly, through the Term, there shall always be deposited with the Landlord a sum not less than the amount originally deposited as the Security Deposit. Nothing in this Lease shall prevent Landlord from demanding or claiming an amount in excess of the Security Deposit if, at the end of the Term, Tenants failure to pay Rent or its default under any of the other obligations under this Lease causes damages to the Landlord in excess of the Security Deposit amount. If at the end of the Term of this Lease Tenant has made all Rent payments required and fully complied with all of its other obligations under this Lease, then Landlord shall return the Security Deposit to Tenant in the manner required by law, but not more than 30 days after the end of the Term or the date Tenant delivers possession of the Premises to Landlord, whichever is later.

  • MONTH'S RENT The Tenant is required to pay the first (1st) month's rent: (check one)

  • 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)

  • Monthly Rent a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.