Security Deposit Requirements Sample Clauses
Security Deposit Requirements. If we require you to pay a security deposit:
(a) the security deposit will not be greater than 37.5% of your estimated bills over a 12 month period based on your billing data or the average consumption of electricity by a comparable customer
(b) we will pay you interest on your security deposit at the bank bill swap rate, accrued daily and capitalised every 90 days;
(c) we will keep the security deposit in a separate trust account and identify it separately in our accounting records;
(d) we may apply the security deposit in full or partial satisfaction of amounts you owe to us if:
(i) we disconnect the premises because you do not pay a bill and you no longer have a right to reconnection; or
(ii) amounts you owe to us for a final bill issued to
(e) if we used your security deposit in accordance with clause 15.2(d) of this agreement, we will provide you with a written statement for how the security deposit was used and repay you any outstanding amount within 10 business days; and
(f) we will repay the security deposit within 10 business days after:
(i) you pay for electricity by the due dates listed on
(ii) you leave the premises;
Security Deposit Requirements. The City of Monroe will require a security deposit for all types of service connections. The amount of the required deposit will be determined by the currently in-force chart of “Service Deposit Requirements.” This chart documents the deposit requirements for residential customers based upon the services they desire and their credit standing. The credit standing is determined when the customer applies for new service or transfers service.
Security Deposit Requirements. Each Participant agrees that any funds deposited at NCPA to satisfy Participant’s Security Deposit requirements pursuant to this Agreement shall be irrevocably committed and held by NCPA in the General Operating Reserve, and that such funds may be used by NCPA in
Security Deposit Requirements. (a) To decrease the period of vacancy, and for other business and marketing considerations, Property Manager shall be entitled in its sole discretion to determine the Tenant’s obligations regarding a Security Deposit, including, without limitation: (i) the amount of the Security Deposit; (ii) the timing of the payment of a Security Deposit; (iii) whether to require a Tenant to pay increased rent in lieu of a Security Deposit; and/or (iv) to permit other options or terms regarding a Security Deposit that Property Manager may deem desirable from time to time.
(b) If Property Manager agrees in writing to alter or waive the Security Deposit obligation of Tenant, Property Manager shall be entitled to any resulting excess payment collected, which will usually be recognized via higher Rent. In cases where a Security Deposit is not required, Property Manager’s decision shall neither reduce nor waive the Tenant’s obligations to pay for any damages resulting from any breach of the Lease by the Tenant, nor shall it otherwise impair the Property Manager’s obligations under this Agreement or applicable laws. If Property Manager does not require Tenant to place a Security Deposit, and Tenant vacates the Property without paying for damages, Property Manager will reimburse Owner for any damages or unpaid Rent up to, but not exceeding one month’s Rent.
(c) For avoidance of doubt, if this Agreement is terminated for any reason, Property Manager’s obligation to reimburse the Security Deposit, if applicable, shall cease.
Security Deposit Requirements. Each Participant agrees that any funds deposited at NCPA to satisfy Participant’s Security Deposit requirements pursuant to this Agreement shall be irrevocably committed and held by NCPA in the General Operating Reserve, and that such funds may be used by NCPA in accordance with Section 5.1.3. Each Participant’s Security Deposit will be accounted separately from and in addition to any other security accounts or deposits maintained pursuant to any other agreement between NCPA and the Participant, or any other such security account or deposits required of Members. In connection with fulfilling the Security Deposit requirements of this Agreement, Participant may elect to use its uncommitted funds held in the General Operating Reserve to satisfy in whole or in part its Security Deposit required under Section 5. If Participant chooses to satisfy in whole or in part its security requirements using its uncommitted funds held in the General Operating Reserve, Participant is required to execute and deliver to NCPA an Irrevocable Letter of Direction, directing NCPA to utilize Participant’s uncommitted General Operating Reserve funds for such purposes, and the designated funds will thereafter be irrevocably committed and held by NCPA to satisfy the requirements of this Agreement.
Security Deposit Requirements. Upon the execution of this Lease, Tenant has deposited with Landlord a security deposit in the amount set forth on the Lease Data Exhibit. The deposit shall be held by Landlord as security for the faithful performance by Tenant of all of the provisions of this Lease to be performed or observed by Tenant. Upon the occurrence and during the continuance of an Event of Default by Tenant hereunder, Landlord may, but shall have no obligation to, use, apply or retain all or any portion of the deposit for the payment of any sum to which Landlord may become obligated by reason of Tenant's Event of Default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. If Landlord so uses or applies all or any portion of the deposit, Tenant shall, within ten (10) days after demand therefore, deposit cash with Landlord in an amount sufficient to restore the deposit to the full amount thereof. Landlord may commingle the deposit with its other funds, and shall not be required to account for any interest earned thereon. If an Event of Default by Tenant does not exist at the termination or expiration of the Term, the deposit or so much thereof as has not theretofore been applied by Landlord, shall be returned, with payment of interest for its use, to Tenant (or, if applicable, to the last assignee, if any, of Tenant's interest hereunder) at the expiration of the Term, and after Tenant has vacated the Demised Premises. No trust relationship is created herein between Landlord and Tenant with respect to the security deposit.
Security Deposit Requirements