Common use of Security Deposit Clause in Contracts

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.

Security Deposit. Licensee Tenant has deposited with Landlord the sum of Five Hundred Thousand and 00/100 Dollars ($500,000.00) as security for the full and faithful performance of all of the obligations of Tenant under this Lease (all or any part of such amount, the “Security Deposit”). If an Event of Default shall pay «Monthly_Fee» occur under this Lease, Landlord may use, apply or retain all or any part of the Security Deposit for the payment of any Fixed or Additional Rent or any other sum in default or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of such Event of Default, or to compensate Landlord for any other loss, cost or damage which Landlord may suffer by reason of such Event of Default. Tenant shall, within five (5) Business Days after notice from Landlord, deposit with Landlord cash or a letter of credit in an amount not sufficient to exceed one month's License Fee) on or before «Start_Date» restore the Security Deposit to be held by the University during the term hereof, or any extension or renewal, as a security deposit amount then required pursuant to the terms hereof; it being understood of this Article 30. Tenant’s obligation to make such payment shall be deemed a requirement that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEETenant pay an item of Additional Rent, nor and Tenant’s failure to do so shall any damages be limited a breach of this Lease. Landlord shall not, unless otherwise required under applicable Law, pay interest to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving Tenant on the Security Deposit, and if Landlord is required to maintain the Security Deposit in an interest bearing account, Landlord will retain the maximum amount permitted under applicable Laws as a bookkeeping and administrative charge. Tenant shall not assign or encumber any partial payment thereof. The University acknowledges thatpart of the Security Deposit, subject to damages prescribed and no assignment or encumbrance by lawTenant of all of any part of the Security Deposit shall be binding upon Landlord, it shallwhether made prior to, within thirty (30) days during, or after the termination Term. Landlord shall not be required to exhaust its remedies against Tenant or against the Security Deposit before having recourse to any other form of security held by Landlord, and recourse by Landlord to any portion of the License Security Deposit shall not affect any remedies of Landlord provided in this Lease or upon Licensee's vacating available to Landlord under applicable Laws. So long as no Event of Default shall then have occurred and be continuing, the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit Security Deposit or any balance thereof, and any interest thereon, if due, thereof shall be returned to Tenant reasonably promptly after deducting the expiration or sooner termination (1other than a termination pursuant to Article 16) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages Term and of the repairs necessary Tenant’s surrender to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition Landlord of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.

Security Deposit. Licensee Each Coop shall deposit with the University upon execution hereof, as security for the Coop's faithful performance of the Coop's obligations hereunder, the dollar amount as provided in Addenda ▇-▇, ▇-▇, ▇, C and D, respectively as to each Coop. If a Coop fails to pay «Monthly_Fee» rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Space Agreement, the University may use, apply or retain all or any portion of said deposit for the payment of any rent or other charge in default or for the payment of any other sum to which the University may become entitled by reason of that Coop's default, or to compensate the University for any loss or damage which the University may suffer thereby. If the University so uses or applies all or any portion of said deposit, that Coop shall within ten (10) days after written demand therefore, deposit cash with the University in an amount not sufficient to exceed one monthrestore said deposit to the full amount hereinabove stated, and that Coop's License Fee) on or before «Start_Date» failure to do so shall be a material breach of this Space Agreement as to that Coop. If the monthly rent increases during the Term of this Space Agreement, the Coops to whom such increase applies shall thereupon deposit with the University an additional security deposit so that the amount of security deposit held by the University during shall at all times bear the term hereof, or any extension or renewal, same proportion to current rent as a the original security deposit pursuant bears to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security depositoriginal monthly rent set. The University shall furnish Licensee with a not be required to keep said deposit separate receipt from its general accounts. If each Coop performs all of its respective obligations hereunder, said deposit, or so much thereof as has not theretofore been applied by the University, shall be returned, without payment of interest or other increment for its use, to that Coop (or, at the time University's option, to the last assignee, if any, of receiving the Security DepositCoop's interest hereunder) at the expiration of the Term hereof, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days and after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of Coop has vacated the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by trust relationship is created herein between the University or and the University's agent, unless the University subsequently repaired or caused Coops with respect to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySecurity Deposits.

Security Deposit. Licensee Tenant will pay Landlord on the date this Lease is executed by Tenant the Security Deposit set forth in Item 8 of the Basic Lease Provisions as security for the performance of the terms hereof by Tenant. Tenant shall pay «Monthly_Fee» (not be entitled to interest thereon and Landlord may commingle such Security Deposit with any other funds of Landlord. The Security Deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. If Tenant defaults with respect to any provision of this Lease, Landlord may, but shall not be required to, from time to time, without prejudice to any other remedy, use, apply or retain all or any part of this Security Deposit for the payment of any Rent or any other sum in default or for the payment of any other amount not which Landlord may spend or become obligated to exceed one monthspend by reason of Tenant's License Fee) on default or before «Start_Date» to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default, including, without limitation, costs and attorneys' fees incurred by Landlord to recover possession of the Premises. If Tenant shall fully and faithfully perform every material provision of this Lease to be held performed by the University during the term hereofit, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject Deposit shall be returned to damages prescribed by law, it shall, Tenant within thirty (30) days after the termination Expiration Date. Tenant agrees that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as the Security Deposit and that Landlord and its successors and assigns shall not be bound by any such actual or attempted assignment or encumbrance. Regardless of any assignment of this Lease by Tenant, Landlord may return the Security Deposit to the original Tenant, in the absence of evidence satisfactory to Landlord of an assignment of the License or upon Licensee's vacating right to receive the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit Security Deposit or any part of the balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case alternative to a cash Security Deposit, contemporaneously with the execution of such damagethis Lease, Tenant shall cause an American bank or financial institution located in Austin, Texas reasonably acceptable to Landlord to issue an irrevocable letter of credit in the University amount of the Security Deposit set forth in Item 8 of the Basic Lease Provisions (the "Letter of Credit"), naming Landlord as beneficiary to partially secure the performance of Tenant under the Lease. The Letter of Credit shall provide be for a term of not less than twelve (12) months. If all or any portion of the LicenseeLetter of Credit is drawn against by Landlord, Tenant shall within thirty (30) daysdays after demand by Landlord, with an itemized list of damages, sworn to by order the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature issuer of the damages and Letter of Credit to issue to Landlord at Tenant's expense replacement or supplementary Letters of Credit such that at all times during the term of this Lease (other than such thirty (30) day period), Landlord shall have the ability to draw on one or more Letters of Credit totaling the Security Deposit amount set forth in Item 8 of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereofBasic Lease Provisions. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee Landlord shall be entitled to interest draw on the Letter of Credit one or more times for the reasons and uses provided above applicable to the Security Deposit. Any amount drawn by Landlord shall not be deemed to fix or determine the amounts to which Landlord is entitled under this Lease or otherwise, and Landlord shall be entitled to pursue any remedies provided for in this Lease to the extent Landlord is unable or elects, in its sole and absolute discretion, not to obtain complete or partial satisfaction by drawing upon the Letter of Credit. Tenant shall cause the issuance of a replacement Letter of Credit at least thirty (30) days prior to the expiration date of the then issued Letter of Credit (such date, the "Reissuance Date"). If Tenant fails to cause the issuance of a replacement Letter of Credit prior to the Reissuance Date, then Landlord shall have the right to draw the full amount of the then issued and outstanding Letter of Credit; provided that such drawing shall not be an Event of Default hereunder and Landlord shall hold such funds as security deposit at for the rate performance of two percent Tenant's obligations under this Lease. Landlord shall refund such funds to Tenant upon the earlier to occur of (2%i) per yearTenant's delivery of a replacement Letter of Credit and (ii) sixty (60) days after the expiration of this Lease and satisfaction of Tenant's obligations hereunder. If the issuer of the Letter of Credit shall admit in writing its inability to pay its debts generally as they become due, payable at the end of each year of Licensee's occupancy.shall file a petition in bankruptcy

Security Deposit. Licensee (a) Upon the execution and delivery of this Lease, Tenant shall pay «Monthly_Fee» deliver to Landlord either cash or an unconditional irrevocable letter of credit, and Tenant shall maintain same effect at all times during the Term hereof, in either case as security for the full and faithful performance and observance by Tenant of Tenant’s covenants and obligations under this Lease, in the amount of $1,564,977.50 (the “Required Amount”), which letter of credit shall be substantially in the form annexed hereto as Exhibit G and otherwise reasonably satisfactory to Landlord and issued by a banking corporation reasonably satisfactory to Landlord and either having its principal place of business or a duly licensed branch or agency in the borough of Manhattan, City and County of New York. Such letter of credit shall have an amount not expiration date no earlier than the first anniversary of the date of issuance thereof and shall be automatically renewed from year to exceed one month's License Fee) on or before «Start_Date» to be held year unless terminated by the University during issuer thereof by notice to Landlord given not less than thirty (30) days prior to the term hereofexpiration thereof. (b) If Tenant delivers a letter of credit, Tenant shall, throughout the Term, deliver to Landlord, in the event of the termination of any such letter of credit, replacement letters of credit in lieu thereof complying with the terms of this Article 31 (each such letter of credit and such extensions or any extension or renewalreplacements thereof, as the case may be, is hereinafter referred to as a “Security Letter”) no later than thirty (30) days prior to the expiration date of the preceding Security Letter. The term of each such Security Letter shall be not less than one year and shall be automatically renewable from year to year as aforesaid. If Tenant shall fail to obtain any replacement of or amendment to a Security Letter within any of the applicable time limits set forth in this Article 31, Tenant shall be in default of its obligations under this Article 31 and Landlord shall have the right (but not the obligation), at its option, to draw down the full amount of the existing Security Letter and use, apply and retain the same as security deposit hereunder, and notwithstanding such draw by Landlord, Landlord shall have the right (but not the obligation), at its option, to give written notice to Tenant stating that such failure by Tenant to deliver such replacement of or amendment to the Security Letter constitutes a continuing default by Tenant of its obligations under this Article 31, and in the event that Tenant shall not have delivered such replacement or amendment to Landlord within fifteen (15) business days after Tenant’s receipt of such notice, Landlord may give to Tenant a notice of intention to end the Term at the expiration of five days from the date of the service of such notice of intention, and upon the expiration of said five days this Lease and the Term and estate hereby granted, whether or not the Term shall theretofore have commenced, shall terminate with the same effect as if that day was the day herein definitely fixed for the end and expiration of this Lease, but Tenant shall remain liable for damages as provided in Article 6 hereof. Upon delivery to Landlord of any such replacement of or amendment to the Security Letter within the fifteen (15) business day period described in the preceding sentence, such default shall be deemed cured and Landlord shall return to Tenant the proceeds of the Security Letter which had been drawn by Landlord pursuant to the preceding sentence (or any balance thereof to which Tenant is entitled). (a) If Tenant defaults in the full and prompt payment and performance of any of Tenant’s covenants and obligations under this Lease, including, but not limited to, the payment of Fixed Annual Rent and Additional Rent, beyond notice (the delivery of which shall not be required for purposes of this Section 31.02 if Landlord is prevented or prohibited from delivering the same under Applicable Law, including, but not limited to, all applicable bankruptcy and insolvency laws) and the expiration of any applicable cure periods (except that no notice and cure period shall be required for purposes of this Section 31.02 with respect to any default by Tenant hereunder if, at the time of such default, any of the events set forth in Section 5.01(c)-(d) hereof shall have occurred with or without the acquiescence of Tenant), Landlord may, at its option, (but shall not be obligated to) and without prejudice to any other remedy which Landlord may have on account thereof, use, apply or retain the whole or any part of the security so deposited and the interest accrued thereon, if any, (or draw down the entire Security Letter or any portion thereof and use, apply or retain the whole or any part of the security represented by the Security Letter) to the extent required for the payment of (i) any Fixed Annual Rent and Additional Rent or any other sums as to which Tenant is in default, (ii) any sum which Landlord may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms, covenants and conditions of this Lease, including, but not limited to, any reletting costs or expenses, (iii) any damages or deficiency in the reletting of the Premises, whether such damages or deficiency accrued before or after summary proceedings or other re-entry by Landlord or (iv) any damages awarded to Landlord in accordance with the terms hereof; and conditions of Article 6 hereof (it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEany use of the whole or any part of the security represented by the Security Letter shall not constitute a bar or defense to any of Landlord’s other remedies under this lease or any law, nor shall any damages be rule or regulation, including but not limited to Landlord’s right to assert a claim against Tenant under 11 U.S.C. §502(b)(6) or any other provision of Title 11 of the United States Code). If Landlord shall so use, apply or retain the whole or any part of the security or the interest accrued thereon, if any, or draw down the Security Letter, as the case may be, Tenant shall within ten (10) days of demand immediately deposit with Landlord a sum equal to the amount so used, applied or retained, as security as aforesaid (if Tenant shall have delivered a Security Letter, Tenant shall restore same, at Landlord’s option, either by the deposit with Landlord of cash or the provision of a replacement Security Letter), failing which Landlord shall have the same rights and remedies as for the non-payment of Fixed Annual Rent beyond the applicable grace period. To insure that Landlord may utilize the security represented by the Security Letter in the manner, for the purpose, and to the extent provided in this Article 31, each Security Letter shall provide that the full amount or any portion thereof may be drawn down by Landlord upon the presentation to the issuing bank of Landlord’s draft drawn on the issuing bank without accompanying memoranda or statement of beneficiary. In no event and under no circumstance shall the draw down on or use of any amounts under the Security Letter constitute a basis or defense to the exercise of any other of Landlord’s rights and remedies under this lease or under any law, rule or regulation, including, but not limited to, Landlord’s right to assert a claim against Tenant under 11 U.S.C. §502(b)(6) or any other provision of Title 11 of the United States Code. (b) In the event Landlord uses, applies or retains any portion or all of the security deposit or the security represented by the Security Letter (as the case may be), Tenant shall forthwith restore the amount so used, applied or retained (if Tenant shall have delivered a Security Letter, at Landlord’s option, either by the deposit with Landlord of cash (“Cash Security”) or the provision of a replacement Security Letter) so that at all times the amount of the security deposit. The University shall furnish Licensee with a separate receipt at deposited or the time amount of receiving the security represented by the Security DepositLetter and the Cash Security, if any (as the case may be) shall be not less than the security required by this Article 31, failing which Tenant shall be in default of its obligations under this Article 31 and Landlord shall have the same rights and remedies as for the non-payment of Fixed Annual Rent beyond the applicable grace period. 31.03 If Tenant shall fully and faithfully comply with all of Tenant’s covenants and obligations under this lease, the security, or any partial payment thereof. The University acknowledges thatbalance thereof to which Tenant is entitled, subject or the Security Letter and the Cash Security (if any), as the case may be, shall be returned or paid over to damages prescribed by law, it shall, Tenant within thirty twenty (3020) days after the termination date fixed as the end of this Lease and after delivery to Landlord of entire possession of the License or upon Licensee's vacating Premises in compliance with the premises completely together with provisions of this Lease; provided, however, in no event shall any such return be construed as an admission by Landlord that Tenant has performed all of Licensee's goods its obligations hereunder. 31.04 In the event of any sale, transfer or leasing of Landlord’s interest in the Building whether or not in connection with a sale, transfer or leasing of the land on which the Building is situated to a vendee, transferee or lessee, Landlord shall have the right to transfer the unapplied part of the security and possessionsthe interest thereon, whichever if any, to which Tenant is entitled (or the Security Letter and the Cash Security, if any, as the case may be) to the vendee, transferee or lessee and Landlord, following notice to Tenant of the amount transferred and of the name of the transferee, shall last occurthereupon be released by Tenant from all liability for the return or payment thereof, and Tenant shall look solely to the new landlord for the return or payment of the same to the extent assumed by such vendee, transferee or lessee. The provisions of the preceding sentence shall apply to every subsequent sale, transfer or leasing of Landlord’s interest in the Building, and any successor of Landlord may, upon a sale, transfer, leasing or other cessation of the interest of such successor in the Building, whether in whole or in part, pay over any unapplied part of said security (or transfer the Security Letter and the Cash Security, if any, as the case may be) to any vendee, transferee or lessee of Landlord’s interest in the Building and shall thereupon be relieved of all liability with respect thereto to the extent assumed by such vendee, transferee or lessee. In the event of any such sale, transfer or leasing, Landlord shall have the right to transfer the Security Letter to the new landlord as aforesaid or, in the alternative (provided Landlord and such new landlord reasonably cooperate with Tenant’s issuing bank in connection therewith), to require Tenant to deliver a replacement Security Letter naming the new landlord as beneficiary, and, upon such delivery by Tenant of such replacement Security Letter, Landlord shall return the existing Security Letter to Tenant. If Tenant shall fail to timely deliver such replacement Security Letter, Tenant shall be in default of its obligations under this Article 31 and Landlord shall have the right (but not the obligation), at its option, to draw down the existing Security Letter and retain the proceeds as security hereunder until a replacement Security Letter is delivered. Landlord and Tenant hereby agree that, in connection with the transfer by Landlord or its successors or assigns hereunder of Landlord’s interest in the Security Letter, Tenant shall be solely liable to pay any transfer commission and other costs charged by the issuing bank in connection with any such transfer of the Security Letter, as Additional Charges hereunder, upon Landlord’s demand therefor. 31.05 Except in connection with a permitted assignment of this Lease, Tenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as security or any interest thereon to which Tenant is entitled, or the security represented by the Security Letter, as the case may be, and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. In any event, in the absence of evidence satisfactory to Landlord of an assignment of the right to receive the security deposit, or the remaining balance thereof, or the security represented by the Security Letter, as the case may be, Landlord may return the security deposit or the Security Letter to the original Tenant regardless of one or more assignments of this Lease. 31.06 Neither the security deposit, the Security Letter, any balance thereof, and any interest thereonproceeds therefrom or the Cash Security, if dueany, after deductingshall be deemed an advance rent deposit or an advance payment of any other kind, or a measure or limitation of Landlord’s damages or constitute a bar or defense to any of the Landlord’s other remedies under this lease or at law or in equity upon Tenant’s default. (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused 31.07 Notwithstanding anything to the Premises by Licensee or any person under Licensee's control or contrary herein, provided and on the Premises with Licensee's consentcondition that, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature as of the damages and of the repairs necessary date Tenant elects to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on reduce the amount of security required hereunder, Tenant shall not be in default under this Lease after notice and the expiration of any applicable cure and grace periods, then in such case, (i) on the third (3rd) anniversary of the Rent Commencement Date, the security deposit required under this Article 31 shall be reduced to $1,402,954.40 by Tenant delivering to Landlord a replacement Security Letter in said amount or a modification to the existing Security Letter reducing the Required Amount to said amount in accordance with the terms of this Article 31, (ii) provided that the reduction in clause (i) above occurred, on the fourth (4th) anniversary of the Rent Commencement Date, the security required under this Article 31 shall be reduced to $1,238,135.90 by Tenant delivering to Landlord a replacement Security Letter in said amount or a modification to the existing Security Letter reducing the Required Amount to said amount in accordance with the terms of this Article 31, and (iii) provided that the reduction in clauses (i) and (ii) above each occurred, on the fifth (5th) anniversary of the Rent Commencement Date, the security required under this Article 31 shall be reduced to $1,054,780.95 by Tenant delivering to Landlord a replacement Security Letter in said amount or a modification to the existing Security Letter reducing the Required Amount to said amount in accordance with the terms of this Article 31. Landlord shall, at Tenant’s reasonable expense, cooperate with Tenant (including execution of any required documentation) to amend the rate of two percent existing Security Letter (2%or arrange for a replacement Security Letter) per year, payable at the end of each year of Licensee's occupancyas permitted hereunder.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» As security for the full and faithful performance of every covenant and condition of this Lease to be held performed by ▇▇▇▇▇▇, ▇▇▇▇▇▇ has paid a security deposit to Landlord in the University during amount of $650.00, and Landlord acknowledges receipt of the term hereofsecurity deposit. If Tenant shall default with respect to any covenant or condition of this Lease, including, but not limited to the payment of rent or any other amount or charge due hereunder, Landlord may apply all or any part of the security deposit to the payment of any sum in default, or any extension other sum which Landlord may be required to spend or renewalincur by reason of Tenant's default, as a security and any other sum which Landlord may in its reasonable discretion deem necessary to spend or incur on Tenant's behalf or by reason of Tenant's default. In any such event, Tenant shall within ten (10) days of demand, deposit pursuant with Landlord the amount so applied, expended, or incurred. Only if Tenant shall have fully complied with all covenants and conditions of this Lease and shall have delivered the Premises to Landlord in the condition required by the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEof this Lease, nor shall any damages be limited to but not otherwise, the amount of the security deposit. The University deposit then held by Landlord shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject be repaid to damages prescribed by law, it shall, Tenant within thirty (30) days after the expiration or sooner termination of this Lease. Should Tenant fail to comply with any of the License terms and conditions of this Lease or upon Licensee's vacating otherwise fail to deliver the premises completely together with Premises in the condition required under this lease, Landlord shall have the right to retain the security deposit, which right shall be deemed to be in addition to any and all of Licensee's goods other rights and possessions, whichever remedies at law or in equity available to Landlord. Tenant shall last occur, return not assign or encumber the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear neither Landlord nor its successors and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount assigns shall be deducted from bound by any such assignment or encumbrance. Landlord may commingle the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee with other funds and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyor other return thereon.

Security Deposit. Licensee (i) Subtenant, at its option, shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) deposit with Sublandlord on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a date on which this Sublease is fully executed either cash security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEor a “clean”, nor shall any damages be limited to unconditional, irrevocable and transferable letter of credit or cash in the amount of Seventy Eight Thousand One Hundred Thirty Eight and 00/100ths Dollars ($78,138.00) (such letter of credit, as it may be renewed or replaced as provided herein, the “Letter of Credit”), in form and substance satisfactory to Sublandlord, issued by and drawn on a bank reasonably satisfactory to Sublandlord, for the account of Sublandlord, for a term of not less than one (1) year, as security depositfor the faithful performance and observance by Subtenant of the terms, covenants, conditions and provisions of this Sublease, including, without limitation, the surrender of possession of the Sublease Premises to Sublandlord as herein provided. If Subtenant shall default beyond any applicable notice and/or grace period under any of the material terms, covenants or conditions of this Sublease, Sublandlord may present the Letter of Credit for payment in an amount equal to the reasonably estimated amount of the following items and apply the whole or any part of the proceeds thereof, as the case may be, (i) toward the payment of any Base Rent or Additional Rent or any other monetary obligation as to which Subtenant is in default, (ii) toward any sum which Sublandlord may expend or be required to expend by reason of Subtenant’s default in respect of any of the terms, covenants and conditions of this Sublease, including, without limitation, any damage, liability or expense (including, without limitation, reasonable attorneys’ fees and disbursements) incurred or suffered by Sublandlord, and (iii) toward any damage or deficiency incurred or suffered by Sublandlord in the reletting of the Sublease Premises, whether such damages or deficiency accrue or accrues before or after summary proceedings or other re-entry by Sublandlord. If Subtenant deposits cash with Landlord instead of the Letter of Credit, Sublandlord may access the cash in the same way it would have drawn on the Letter of Credit. If Sublandlord presents the Letter of Credit for payment, the proceeds thereof not applied as provided above shall be held as cash security. If Sublandlord applies or retains any part of the proceeds of the Letter of Credit or the cash security so deposited, as the case may be, Subtenant, within fifteen (15) days after demand, shall deposit with Sublandlord the amount so applied or retained so that Sublandlord shall have the full deposit on hand at all times during the Term. The University Letter of Credit or the cash security, as the case may be, shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject be returned to damages prescribed by law, it shall, Subtenant within thirty (30) days after the termination expiration date of the License Term and after delivery of possession of the Sublease Premises to Sublandlord in the condition required herein, provided that Subtenant does not then owe any monies or upon Licensee's vacating other obligations hereunder to Sublandlord in which latter event Sublandlord may retain sufficient funds to cover the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary reasonably estimated cost to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedcure uncured defaults. In the event of an assignment of the Master Lease and this Sublease by Sublandlord, (i) Sublandlord shall have the right to transfer the Letter of Credit or the cash security, as the case may be, to the assignee, and Subtenant shall cause, at no cost to Sublandlord, the bank which issued the Letter of Credit to issue an amendment to the Letter of Credit or issue a new Letter of Credit naming such assignee as the beneficiary thereunder and (ii) provided that the new sublandlord assumes in writing the obligations of Sublandlord with respect to the return of the security deposit, Sublandlord shall be released by Subtenant for all liability for the return of such damageLetter of Credit or cash security, as the University case may be, and Subtenant shall provide look solely to the Licenseenew sublandlord for the return of such Letter of Credit or cash security, within as the case may be. The provisions hereof shall apply to every transfer or assignment of the Letter of Credit or security made to a new Sublandlord. Subtenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as security and neither Sublandlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. Subtenant shall renew the Letter of Credit from time to time, at least thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement days prior to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance expiration thereof, and any accrued interest, deliver to Sublandlord a new Letter of Credit or an endorsement to the University's successor in interest Letter of Credit, and any other evidence required by Sublandlord that the Letter of Credit has been renewed for a period of at least one (1) year. The final expiration date of the benefit Letter of LicenseeCredit shall be no earlier than October 15, 2018. If Subtenant shall at any time fail to timely renew the Letter of Credit as aforesaid, Sublandlord may present the Letter of Credit for payment and retain the proceeds thereof as cash security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount in lieu of the security deposit at the rate Letter of two percent (2%) per year, payable at the end of each year of Licensee's occupancyCredit.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount Tenant agrees to deposit with Landlord, upon the execution of this Lease, the Security Deposit as security for the full and faithful performance by Tenant of each and every term, provision, covenant and condition of this Lease. If Tenant defaults in respect to any of the terms, provisions, covenants and conditions of this Lease including, but not to exceed one month's License Fee) on or before «Start_Date» limited to, payment of all rental and other sums required to be held paid by Tenant hereunder, Landlord may use, apply or retain the University during the term hereof, whole or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security so deposited for the payment of such rent in default, for any sum which Landlord may expend or be required to expend by reason of Tenant's default including, without limitation, any damages or deficiency in the reletting of the Premises, whether such damages or deficiency shall have accrued before or after re-entry by Landlord. If any of the security deposit shall be so used, applied or retained by Landlord at any time or from time to time, Tenant shall promptly, in each such instance, on written demand therefor by Landlord, pay to Landlord such additional sums as may be necessary to restore the security deposit to the original amount set forth in the first sentence of this section. If Tenant shall fully and faithfully comply with all the terms, provisions, covenants and conditions of this Lease, the security deposit. The University , or the balance thereof, shall furnish Licensee with a separate receipt at be returned to Tenant after the following: (a) the time fixed as the expiration of receiving the Security Deposit, or any partial Term of this Lease; (b) the removal of Tenant from the Premises; (c) the surrender of the Premises by Tenant to Landlord in accordance with this Lease; and (d) final determination of all amounts payable by Tenant hereunder and payment thereofof same. The University acknowledges that, subject to damages prescribed Except as otherwise required by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee Tenant shall be entitled to interest on the amount of the security deposit at the rate of two three percent (23%) per yearannum throughout the Term on the aforesaid security deposit only in the event there is no claim against the Security Deposit during the Term. In the absence of evidence satisfactory to Landlord of an assignment of the right to receive the security deposit or the remaining balance thereof, payable at Landlord may return the end security deposit to the original Tenant, regardless of each year one or more assignments of Licensee's occupancythis Lease.

Security Deposit. Licensee 24.1 Simultaneously with the execution of this Lease, Tenant shall pay «Monthly_Fee» deposit with Landlord the Security deposit (an amount as defined in Section 1.1 (g)). The Security Deposit shall be security for the performance by Tenant of all of Tenant's obligations, covenants, conditions and agreements under this Lease. Landlord shall not be required to exceed one month's License Fee) on maintain the Security Deposit in a separate account. Landlord shall have no fiduciary responsibilities or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a security deposit pursuant trust obligations whatsoever with regard to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEESecurity Deposit and shall not assume the duties of a trustee for the Security. Except as may be required by law, nor Tenant shall any damages not be limited entitled to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving interest on the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within Within approximately thirty (30) days after the termination later of the License expiration of the Lease Term or upon LicenseeTenant's vacating the premises completely together with all of Licensee's goods and possessionsPremises, whichever Landlord shall last occur, return the security deposit Security Deposit to Tenant, less such portion thereof as Landlord shall have appropriated to satisfy any default by Tenant hereunder. In the event of any default by Tenant hereunder, Landlord shall have the right, but shall not be obligated, to use, apply or retain all or any balance thereofportion of the Security Deposit for (a) the payment of any Annual Base Rent or additional rent or any other sum as to which Tenant is in default, and (b) the payment of any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary which Landlord may spend or become obligated to spend to repair any physical damage caused to the Premises or the Building pursuant to Article VIII hereof, or (c) the payment of any amount Landlord may spend or become obligated to spend, or for the compensation of Landlord for any losses incurred, by Licensee or any person under Licenseereason of Tenant's control or on the Premises with Licensee's consentdefault, reasonable wear and tear excludedincluding, but failure to clean included. In not limited to, any damage or deficiency arising in connection with the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition reletting of the Premises. The Security will not be a limitation on Landlord's damages or other rights and remedies available under the Lease, or at law or equity, nor shall the Security be a payment of liquidated damages. If any portion of the Licensee disagrees Security Deposit is so used or applied, within three (3) business days after written notice to Tenant of such use or application, Tenant shall deposit with Landlord cash in an amount sufficient to restore the UniversitySecurity Deposit to its original amount, and Tenant's statement failure to do so shall constitute a default under this Lease. 24.2 If Tenant is in default under this Lease more than two (2) times within any twelve-month period, irrespective of conditionwhether or not such default is cured, Licensee must attach a separate list then, without limiting Landlord's other rights and remedies provided for in this Lease or at law or equity, Tenant shall, upon demand, deposit with Landlord an additional security deposit equal to an amount equal to the greater of: a. two (2) times the original Security Deposit, or b. two (2) months' Minimum Rent, which shall be paid by Tenant to Landlord forthwith on demand. 24.3 If Landlord transfers the Security Deposit to any purchaser or transferee of any damage existing Landlord's interest in the Premises Building, Tenant shall look only to such purchaser or transferee for the return of the Security Deposit, and return the statement to the University. No amount Landlord shall be deducted released from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused all liability to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest Tenant for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount return of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySecurity Deposit.

Security Deposit. Licensee Upon Tena▇▇'▇ ▇xecution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not deliver to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewalLandlord, as a security deposit pursuant to Security Deposit for the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEperformance by Tenant of its obligations under this Lease, nor shall any damages be limited to the amount of the security depositdescribed on Page 1. The University shall furnish Licensee with a separate receipt at the time of receiving If Tenant is in default, Landlord may, but without obligation to do so, use the Security Deposit, or any partial payment portion thereof, to cure the default or to compensate Landlord for all damages sustained by Landlord resulting from Tena▇▇'▇ ▇efault, including, but not limited to the Enforcement Expenses. The University acknowledges that, subject to damages prescribed by law, it Tenant shall, within immediately on demand, pay to Landlord a sum equal to the portion of the Security Deposit so applied or used so as to replenish the amount of the Security Deposit held to increase such deposit to the amount initially deposited with Landlord. As soon as practicable but in no event more than thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessionsthis Lease, whichever Landlord shall last occur, return the security deposit Security Deposit to Tenant, less such amounts as are reasonably necessary, as determined solely by Land▇▇▇▇, ▇▇ remedy Tenant's default(s) hereunder or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to otherwise restore the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consentto a clean and safe condition, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premisesexcepted. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in cost to restore the Premises exceeds the amount of the Security Deposit, Tenant shall promptly deliver to Landlord any and return all of such excess sums as reasonably determined by Landlord. Landlord shall not be required to keep the statement to the University. No amount shall be deducted Security Deposit separate from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agentother funds, and, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused otherwise required by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premiseslaw, the University Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount Security Deposit. In no event or circumstance shall Tenant have the right to any use of the security deposit at Security Deposit and, specifically, Tenant may not use the rate of two percent (2%) per yearSecurity Deposit as a credit or to otherwise offset any payments required hereunder, payable at the end of each year of Licensee's occupancyincluding, but not limited to, Rent or any portion thereof.

Security Deposit. Licensee 5.01 Upon execution of this Lease, Lessee shall pay «Monthly_Fee» deposit with Lessor the additional sum of Sixty Five Thousand and No/100 Dollars (an amount $65,000.00) (the “security deposit”), receipt of which is hereby acknowledged by Lessor as security for the full and faithful performance by Lessee of the terms, conditions, and covenants of this Lease. The security deposit does not to exceed one month's License Fee) constitute advance payment of the final rental payment due herein. Any interest accruing on or before «Start_Date» the security deposit while held by Lessor shall be the property of Lessor. 5.02 Excluding the final rental payment to be held by made herein, if at any time during the University term hereof Lessee shall be in default in the payment of rent herein reserved or any portion thereof, or of any other sums payable to Lessor hereunder, other than advance rental payments, Lessor may appropriate and apply any portion of the security deposit as may be necessary to the payment of the overdue rent or other sums. 5.03 If at any time during the term hereof, or Lessee should fail to repair any extension or renewal, as a security deposit damage to the premises that it is required to repair pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with hereof for a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty period greater than ten (3010) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods written demand to make such repair is served on Lessee by Lessor, then Lessor may appropriate and possessions, whichever shall last occur, return the security deposit or apply any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount portion of the security deposit at as may be reasonably necessary to make such repairs. 5.04 If on termination of this tenancy for any reason, Lessee does not leave the rate leased premises in reasonably clean condition, excluding “normal wear and tear,” then Lessor may appropriate and apply any portion of two percent (2%) per yearthe security deposit as may be reasonably necessary to put the premises in such clean condition. As used herein, payable at the end term “normal wear and tear” means that deterioration which occurs, based upon the use for which the premises herein are intended, without negligence, carelessness, accident, or abuse of each year of Licensee's occupancythe premises or equipment or chattels by the Lessor, or its invitees or guests.

Security Deposit. Licensee Section 32.1 Tenant has deposited with Landlord the sum of Five Million and 00/100 Dollars ($5,000,000.00) as security for the full and faithful performance of every provision of this Lease to be performed by Tenant (all or any part of such amount, the "Security Deposit"). If an Event of Default shall pay «Monthly_Fee» have occurred with respect to any provision of this Lease, including but not limited to (i) the provisions relating to the payment of Fixed Rent and Additional Rent, or (ii) any default beyond applicable notice and grace periods under Tenant's Other Lease; then Landlord may use, apply or retain all or any part of the Security Deposit for the payment of any Fixed or Additional Rent or any other sum in default or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of such Event of Default, or to compensate Landlord for any other loss, cost or damage to which Landlord is entitled pursuant to this Lease by reason of such Event of Default. Landlord shall give Tenant notice contemporaneously with such use or application of any portion of the Security Deposit. Tenant shall, within five (5) days after the giving of such notice, deposit with Landlord cash in an amount not sufficient to exceed one month's License Fee) on or before «Start_Date» restore the Security Deposit to be held by the University during the term hereof, or any extension or renewal, as a security deposit amount then required pursuant to the terms hereof; it being understood of this Article 32 (Tenant's obligation to make such payment shall be deemed a requirement that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor Tenant pay an item of Additional Rent) and Tenant's failure to do so shall any damages be limited to the amount a breach of the security depositthis Lease. The University Landlord shall furnish Licensee with a separate receipt at the time of receiving deposit the Security Deposit, if in cash, in an interest-bearing account in a bank with a branch in New York State; however, Landlord shall not, unless otherwise required by Legal Requirements, pay interest to Tenant on the Security Deposit, and if Landlord is required to maintain the Security Deposit in an interest bearing account, Landlord will retain the maximum amount permitted under Legal Requirements as a bookkeeping and administrative charge. Tenant shall not assign or encumber any part of the Security Deposit, and no assignment or encumbrance by Tenant of all of any part of the Security Deposit shall be binding upon Landlord, whether made prior to, during, or after the Term. Landlord shall not be required to exhaust its remedies against Tenant or against the Security Deposit before having recourse to any other form of security held by Landlord and recourse by Landlord to any Security Deposit shall not affect any remedies of Landlord which are provided in this Lease or which are available to Landlord in law or in equity. If Tenant shall fully and faithfully perform every covenant and provision of this Lease to be performed and observed by Tenant, the Security Deposit or any partial payment thereof. The University acknowledges that, subject balance thereof shall be returned to damages prescribed by law, it shall, Tenant within thirty (30) days after the expiration or sooner termination (other than a termination pursuant to Article 16) of the License or upon LicenseeTerm and Tenant's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary surrender to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition Landlord of the Premises. If In the Licensee disagrees with event the University's statement of conditionBuilding is sold, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University Landlord shall transfer the Security Deposit to the new owner and Landlord shall thereupon be released by Tenant from all liability for the return of said Security Deposit; and Tenant agrees to look to the new owner solely for the return of the Security Deposit. A lease of the entire Building shall be deemed a transfer within the meaning of the foregoing sentence. Landlord shall use reasonable efforts to notify or cause Tenant to be notified in the event of any transfer of the Building. Section 32.2 In lieu of a cash deposit, Tenant may deliver to Landlord a clean, irrevocable, non-documentary and unconditional letter of credit (the "Letter of Credit") issued by and drawn upon any commercial bank, trust company, national banking association or savings and loan association having offices for banking purposes in the City of New York and which is a member of the New York Clearinghouse Association (the "Issuing Bank") and which (or the parent company of which) shall have outstanding unsecured, uninsured and unguaranteed indebtedness, or shall have issued a letter of credit or other credit facility that constitutes the primary security deposit for any outstanding indebtedness (which is otherwise uninsured and unguaranteed), that is then rated, without regard to qualification of such rating by symbols such as "+" or any balance thereof"-" or numerical notation, "Aa" or better by ▇▇▇▇▇'▇ Investors Service and "AA" or better by Standard & Poor's Corporation, and any accrued interesthas combined capital, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.surplus and undivided profits

Security Deposit. Licensee 40.1 On the respective dates specified in the Fundamental Lease Provisions, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to deposit with Landlord the two installments of the Security Deposit in the amounts specified in the Fundamental Lease Provisions which shall be held by Landlord as security for the University during faithful performance and observance by Tenant of the term hereofterms, or any extension or renewalconditions and provisions of this Lease, including without limitation, the surrender of possession of the Premises to Landlord as herein provided. Failure by Tenant to deposit the Security Deposits in two installments on the dates specified in the Fundamental Lease Provisions shall be deemed a security deposit material breach of this Lease. The Security Deposit shall be in the form of U.S. dollars or, at Tenant's election, a letter of credit issued on the account of Tenant by a New York Clearinghouse member bank. If the Security Deposit is in the form of U.S. dollars, the same shall be deposited by Landlord in an account designated by Landlord. The letter of credit and the issuer bank must be reasonably acceptable to Landlord in all material respects and the letter of credit must provide for partial draws and that the same may be drawn upon by Landlord pursuant to the terms hereof; it being understood provisions of this Section. It is agreed that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEin the event Tenant defaults in respect of any of the terms, nor shall provisions and conditions of this Lease, including, but not limited to, the payment of Base Rent or Additional Rent, then while there exists an Event of Default hereunder Landlord may apply or retain the whole or any damages be limited part of the Security Deposit so deposited to the amount extent required for the payment of any Base Rent and Additional Rent or any other sum as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant's default in respect of any of the security depositterms, covenants and conditions of this Lease. The University shall furnish Licensee with a separate receipt at the time If Landlord applies or retains any part of receiving the Security DepositDeposit so deposited, Tenant, upon demand, shall deposit with Landlord the amount so applied or any partial payment thereofretained so that Landlord shall have the full Security Deposit on hand at all times during the Term. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together If Tenant shall fully and faithfully comply with all of Licensee's goods the terms, provisions, covenants and possessionsconditions of this Lease, whichever the Security Deposit shall last occur, return be returned to Tenant promptly after the security deposit or any balance thereof, Expiration Date and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to delivery of the entire possession of the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case event of such damagea sale of the Land or the Building or leasing of the Building, Landlord shall have the right to transfer, at Tenant's expense, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement Security Deposit to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement vendee or lessee, whereupon and upon acknowledgement of condition receipt by such vendee or in any separate list submitted by Licensee and approved by the University lessee to or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancyTenant, Licensee Landlord shall be entitled to interest on released by Tenant from all liability for the amount return of the security deposit at Security Deposit; and Tenant shall look solely to the rate new landlord for the return of two percent (2%) per year, payable at the end Security Deposit; it being agreed that the provisions hereof shall apply to every transfer or assignment made of each year of Licensee's occupancythe Security Deposit to a new landlord. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the Security Deposit and that neither Landlord nor its successors or assigns shall be bound by any such assignment or encumbrance.

Security Deposit. Licensee Concurrently with Tenant's delivery of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» deposit with Landlord the sum, if any, stated in Item 9 of the Basic Lease Provisions, to be held by Landlord as security for the University during full and faithful performance of all of Tenant's obligations under this Lease (the term hereof"Security Deposit"). Landlord shall not be required to keep this Security Deposit separate from its general funds, or any extension or renewal, as a security deposit pursuant and Tenant shall not be entitled to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving interest on the Security Deposit. Subject to the last sentence of this Section, the Security Deposit shall be understood and agreed to be the property of Landlord upon Landlord's receipt thereof, and may be utilized by Landlord in its sole and absolute discretion towards the payment of all expenses by Landlord for which Tenant would be required to reimburse Landlord under this Lease, including without limitation inducement costs in accordance with Section 14.2(d). Upon any Event of Default by Tenant (as defined in Section 14.1), Landlord may, in its sole and absolute discretion, retain, use or apply the whole or any partial payment thereofpart of the Security Deposit to pay any sum which Tenant is obligated to pay under this Lease, sums that Landlord may expend or be required to expend by reason of the Event of Default by Tenant or any loss or damage that Landlord may suffer by reason of the Event of Default or costs incurred by Landlord in connection with the repair or restoration of the Premises pursuant to Section 15.3 of this Lease upon expiration or earlier termination of this Lease. The University acknowledges thatIn no event shall Landlord be obligated to apply the Security Deposit upon an Event of Default and Landlord's rights and remedies resulting from an Event of Default, subject including without limitation, Tenant's failure to damages prescribed pay Basic Rent, Tenant's Share of Operating Expenses or any other amount due to Landlord pursuant to this Lease, shall not be diminished or altered in any respect due to the fact that Landlord is holding the Security Deposit. If any portion of the Security Deposit is applied by lawLandlord as permitted by this Section, it shallTenant shall within ten (10) days after written demand by Landlord deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount. If Tenant is not in default in its obligations under this Lease, the Security Deposit shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest in this Lease) within thirty (30) days after the termination expiration of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods Term and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition Tenant of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.

Security Deposit. Licensee Concurrently with Tenant’s delivery of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» deposit with Landlord the sum, if any, stated in Item 9 of the Basic Lease Provisions, to be held by Landlord as security for the University during full and faithful performance of all of Tenant’s obligations under this Lease (the term hereof“Security Deposit”). Landlord shall not be required to keep this Security Deposit separate from its general funds, or any extension or renewal, as a security deposit pursuant and Tenant shall not be entitled to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving interest on the Security Deposit. Subject to the last sentence of this Section, the Security Deposit shall be understood and agreed to be the property of Landlord upon Landlord’s receipt thereof, and may be utilized by Landlord in its sole and absolute discretion towards the payment of all expenses by Landlord for which Tenant would be required to reimburse Landlord under this Lease, including without limitation brokerage commissions and Tenant Improvement costs. Upon any Event of Default by Tenant (as defined in Section 14.1), Landlord may, in its sole and absolute discretion and notwithstanding any contrary provision of Civil Code Section 1950.7, retain, use or apply the whole or any partial payment thereofpart of the Security Deposit to pay any sum which Tenant is obligated to pay under this Lease including, without limitation, amounts estimated by Landlord as the amounts due it for prospective rent and for damages pursuant to Section 14.2(a)(i) of this Lease and/or Civil Code Section 1951.2, sums that Landlord may expend or be required to expend by reason of the Event of Default by Tenant or any loss or damage that Landlord may suffer by reason of the Event of Default or costs incurred by Landlord in connection with the repair or restoration of the Premises pursuant to Section 15.3 of this Lease upon expiration or earlier termination of this Lease. The University acknowledges thatIn no event shall Landlord be obligated to apply the Security Deposit upon an Event of Default and Landlord’s rights and remedies resulting from an Event of Default, subject including without limitation, Tenant’s failure to damages prescribed pay Basic Rent, Tenant’s Share of Operating Expenses or any other amount due to Landlord pursuant to this Lease, shall not be diminished or altered in any respect due to the fact that Landlord is holding the Security Deposit. If any portion of the Security Deposit is applied by lawLandlord as permitted by this Section, it shallTenant shall within five (5) days after written demand by Landlord deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount. If Tenant fully performs its obligations under this Lease, the Security Deposit shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest in this Lease) within thirty (30) days after the termination expiration of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyTerm.

Security Deposit. Licensee The required Security Deposit shall pay «Monthly_Fee» be in the form of an Irrevocable Standby Letter of Credit (an the “letter of credit”) in the amount not set forth in the Reference Pages. Under any circumstance under which Landlord is entitled to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, use of all or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, then Landlord, in addition to all other rights and remedies provided under this Lease, shall have the right to draw down all or a portion of the full balance of the letter of credit and retain the proceeds as cash security but otherwise subject to the provisions of this Article 5. The following terms and conditions shall govern the letter of credit: 5.1. Upon expiration of the Term, the letter of credit shall be returned to Tenant when Tenant is entitled to a return of its Security Deposit. 5.2. The letter of credit shall be in favor of Landlord, shall be issued by a commercial bank reasonably acceptable to Landlord, shall comply with all of the terms and conditions of this Article 5 and shall otherwise be in form reasonably acceptable to Landlord. If, at any time while the letter of credit is outstanding, (a) the issuing bank is declared insolvent or taken into receivership by the Federal Deposit Insurance Corporation or any partial payment thereof. The University acknowledges thatother governmental agency, subject or is closed for any reason, or (b) Landlord reasonably believes that the issuing bank may be or become insolvent or otherwise unable to damages prescribed by lawmeet its obligations, it shallthen, within not later than thirty (30) days after written notice from Landlord, Tenant shall cause the termination existing letter of the License or upon Licensee's vacating the premises completely together credit to be replaced by a new letter of credit issued by another commercial bank reasonably acceptable to Landlord, with such new letter of credit to comply with all of Licensee's goods the terms and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary conditions of this Section 5.2. If Tenant fails to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case deliver an acceptable replacement letter of credit within such damage, the University shall provide the Licensee, within thirty (30) daysday period, with Landlord shall have the right to present the existing letter of credit to the issuing bank for payment, and the entire sum so obtained shall be paid to Landlord, to be held by Landlord as cash security but otherwise subject to the provisions of this Article 5 until Tenant would otherwise be entitled to the return of the letter of credit. 5.3. The initial letter of credit shall have an itemized list expiration date not earlier than fifteen (15) months after the Commencement Date. A draft of damages, sworn the form of letter of credit must be submitted to Landlord for its approval prior to issuance. 5.4. The letter of credit or any replacement letter of credit shall be irrevocable for the term thereof and shall automatically renew on a year to year basis until a period ending not earlier than three (3) months after the Termination Date (the “End Date”) without any action whatsoever on the part of Landlord; provided that the issuing bank shall have the right not to renew the letter of credit by giving written notice to Landlord not less than sixty (60) days prior to the expiration of the then current term of the letter of credit that it does not intend to renew the letter of credit. Tenant understands that the election by the University issuing bank not to renew the letter of credit shall not, in any event, diminish the obligation of Tenant to maintain such an irrevocable letter of credit in favor of Landlord through such date. 5.5. Landlord, or its agent under pains and penalties then managing agent, shall have the right from time to time to make one or more draws on the letter of perjury, itemizing in precise detail credit at any time that Landlord has the nature right to use all or a part of the damages Security Deposit pursuant to this Article 5, and the proceeds may be applied as permitted under this Article 5. The letter of credit must state that it can be presented for payment at the office of the repairs necessary issuer or an approved correspondent in the metropolitan area in which the Building is located. Funds may be drawn down on the letter of credit upon presentation to correct itthe issuing or corresponding bank of Landlord’s (or Landlord’s then managing agent’s) certificate stating as follows: “[Beneficiary] is entitled to the use of Applicant’s Security Deposit pursuant to that certain Lease dated August , 2009, between RAR2-▇▇▇▇▇▇ Corporate Center QRS, Inc., as Landlord, and written evidenceI-Therapeutix, Inc., as Tenant, as amended from time to time.” It is understood that if Landlord or its managing agent be a corporation, partnership or other entity, then such statement shall be signed by an officer (if a corporation), a general partner (if a partnership), or any authorized party (if another entity). 5.6. Tenant acknowledges and agrees (and the letter of credit shall so state) that the letter of credit shall be honored by the issuing bank without inquiry as estimates, bills, invoices or receipts, indicating to the actual estimated costs thereof. The University shall submit to Licensee a separate written statement truth of the present condition statements set forth in such draw request and regardless of whether the PremisesTenant disputes the content of such statement. 5.7. If In the Licensee disagrees with the University's statement event of condition, Licensee must attach a separate list transfer of any damage existing Landlord’s interest in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, Landlord shall have the University shall right to transfer the security deposit or letter of credit to the transferee and Tenant shall take whatever action necessary to effectuate such transfer and thereupon the Landlord shall, without any balance thereoffurther agreement between the parties, be released by Tenant from all liability therefor, and any accrued interestit is agreed that the provisions hereof shall apply to every transfer or assignment of said letter of credit to a new landlord; provided, however, that Landlord or the new landlord pays all fees to the issuer necessary to evidence such transfer. 5.8. Without limiting the generality of the foregoing, if the letter of credit expires earlier than the End Date, or the issuing bank notifies Landlord that it will not renew the letter of credit, Landlord shall accept a renewal thereof or substitute letter credit (such renewal or substitute letter of credit to be in effect not later than thirty (30) days prior to the expiration of the expiring letter of credit), irrevocable and automatically renewable as above provided to the End Date upon the same terms as the expiring letter of credit or upon such other terms as may be acceptable to Landlord. However, if (a) the letter of credit is not timely renewed, or (b) a substitute letter of credit, complying with all of the terms and conditions of this Section is not timely received, then Landlord may present the expiring letter of credit to the issuing bank, and the entire sum so obtained shall be paid to Landlord, to be held by Landlord in accordance with this Article 5. Notwithstanding the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancyforegoing, Licensee Landlord shall be entitled to interest on receive from Tenant a fee in an amount up to but not exceeding Five Hundred and No/100 Dollars ($500.00) for actual attorneys’ fees incurred in connection with the amount review of any proposed substitute letter of credit pursuant to this Section 5.8. 5.9. Notwithstanding the security deposit at the rate above, so long as (a) there is no uncured Event of two percent Default (2%as defined below) per year, payable at the end of each year the twelve (12) month period following the Phase II Premises Commencement Date (the “First Anniversary Date”), (b) I-Therapeutix, Inc. or a Permitted Transferee (as defined below) shall then still be in occupancy of Licensee's occupancyat least 70% of the entire Premises under this Lease, and (c) Tenant has provided Landlord with its financial statements certified by Tenant’s Chief Financial Officer (“Certified Financial Statements”) evidencing that Tenant has earned a net profit for the two (2) fiscal quarters immediately preceding the First Anniversary Date as determined in accordance with generally accepted accounted principles consistently applied (“GAAP”) and otherwise satisfactory to Landlord (acting reasonably), then Tenant shall have the right, by notice given to Landlord, to request that the Security Deposit be reduced to $189,615.

Security Deposit. Licensee (a) Subtenant shall pay «Monthly_Fee» to Sublandlord the sum of [REDACTED PORTION FILED SEPARATELY WITH SEC PURSUANT TO CONFIDENTIAL TREATMENT REQUEST] (an amount not to exceed one month's License Fee) “Security Deposit”), on or before «Start_Date» the date that Sublandlord delivers the Premises to be held by the University during the term hereof, or any extension or renewalSubtenant in accordance with Section 3(a), as security for Subtenant’s full and faithful performance of all covenants and conditions contained in the Sublease. Sublandlord shall deposit the Security Deposit into a security deposit pursuant to segregated account identified as the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount repository of the a security deposit. If a Default by Subtenant occurs under this Sublease, including, but not limited to, payment of the Base Rent, Sublandlord may use, apply or retain the whole or any part of the Security Deposit for the payment of any such Base Rent in default, or for any other sum which the Sublandlord may expend or be required to expend by reason of Subtenant’s Default, including, without limitation, any damages or deficiency which shall have occurred before or after re-entry by Sublandlord. The University shall furnish Licensee with Security Deposit may not be used or applied by Subtenant as a separate receipt substitute for any rent due, but may be so applied by Sublandlord at any time after the time occurrence of receiving a Default by Subtenant, at Sublandlord’s sole option. The use, application or retention of the Security Deposit, or any partial payment portion thereof, by Sublandlord shall not prevent Sublandlord from exercising any other right or remedy provided by this Sublease or by law (it being intended that the Sublandlord shall not first be required to proceed against the Security Deposit) and shall not operate as a limitation on any recovery to which Sublandlord may otherwise be entitled. The University acknowledges thatIf any of the Security Deposit shall be so used, subject applied or retained by Sublandlord at any time or from time to damages prescribed time, Subtenant shall promptly, in each such instance, on written demand therefor by lawSublandlord, it shallpay the Sublandlord such additional sum in cash as may be necessary to restore the Security Deposit to the original amount set forth in the first sentence of this section (or the reduced amount set forth in Section 4(b) below, as applicable). Provided that (i) Subtenant has delivered exclusive possession of the Premises to Sublandlord in the condition required by this Sublease, (ii) no Default exists under this Sublease, and (iii) no act, event or condition exists which, with notice or the passage of time, would constitute a Default under this Sublease, Sublandlord shall return the Security Deposit, or any balance thereof, to Subtenant within thirty (30) days after the later of: (a) the Expiration Date or earlier termination of the License or upon Licensee's vacating Term of this Sublease and (b) the premises completely together date by which Subtenant has vacated the Premises in accordance with all of Licensee's goods and possessionsthe terms hereof. Except as otherwise required by law, whichever Subtenant shall last occur, return the security deposit or any balance thereof, and not be entitled to any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedSecurity Deposit. In the case event of such damagea transfer of Sublandlord’s interest in the Prime Lease, Sublandlord shall have the University right to transfer the Security Deposit to the transferee, whereupon Sublandlord shall provide be released from all liability for the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature return of the damages Security Deposit. (b) As of April 1, 2012, provided that no Default then exists under the Sublease, Sublandlord agrees that the Security Deposit shall be reduced to [REDACTED PORTION FILED SEPARATELY WITH SEC PURSUANT TO CONFIDENTIAL TREATMENT REQUEST], and the difference between the unapplied portion of the repairs necessary to correct it, original Security Deposit and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount reduced Security Deposit shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused returned to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent Subtenant within five (2%5) per year, payable at the end of each year of Licensee's occupancybusiness days after such reduction takes effect.

Security Deposit. Licensee As security for its full and faithful performance of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as Landlord a security deposit pursuant of Nine Thousand Three Hundred Seventy One and 85/100 Dollars ($9,371.85) upon execution of this Lease. If Tenant defaults with respect to any covenant or condition of this Lease, including but not limited to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEpayment of Rent, nor Additional Rent or any other payment due under this Lease, Landlord may apply all or any part of the security deposit to the payment of any sum in default or any other sum which Landlord may be required or deem necessary to spend or incur by reason of Tenant's default. In such event, Tenant shall, upon demand, deposit with Landlord the amount so applied to replenish the security deposit within ten (10) days of Landlord's demand therefor. If Tenant shall any damages be limited have fully complied with all of the covenants and conditions of this Lease, (or if otherwise, promptly following determination of Tenant's liability for such failures to comply), the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, deposit or any partial payment remaining balance thereof. The University acknowledges that, subject then held by Landlord shall be repaid to damages prescribed by law, it shall, Tenant within thirty (30) days after the expiration or sooner termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessionsthis Lease. Landlord may, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If event the security deposit is held for one year depleted, at Landlord's election, apply any Rent or longer Additional Rent prepaid by Tenant to replenish the deposit. Landlord shall not be required to keep this security deposit separate from the commencement of Licensee's occupancyits other funds unless required by law, Licensee and Tenant shall not be entitled to interest on such deposit. As additional security for Tenant improvement dollars spent by Landlord, and as a precondition to this Lease becoming effective, Tenant shall provide to Landlord on the date of execution of this Lease, a clean, irrevocable letter of credit as security for the performance of the obligations of Tenant hereunder, subject to the terms and conditions set forth in this Section 5, in an amount equal to Twenty Six Thousand One Hundred Fifty Four and 00/100 Dollars ($26,154.00) ("Initial Amount"). Because the exact amount of the Tenant improvement dollars to be spent by Landlord has not been determined as of the execution of this Lease, upon such determination, Tenant may, at Tenant's sole cost, replace the existing Letter of Credit with a Letter of Credit otherwise meeting the requirements hereof in an amount based on the actual initial amount ($3.00 per square foot x 50%). Any letter of credit delivered hereunder shall be issued in favor of Landlord by a Massachusetts bank (and otherwise be in form and substance) acceptable to Landlord. For so long as no default beyond applicable notice and grace periods, if any, has occurred under the Lease (and no event has occurred or condition exists which with notice and/or the passage of time would give rise to such a default), on each anniversary of the delivery of the initial letter of credit Tenant may replace the then existing letter of credit with a new letter of credit in substantially the same form in accordance with the following schedule: Replacement Date Amount First Anniversary 60% x Initial Amount Second Anniversary 30% x Initial Amount Third Anniversary Zero It shall constitute an immediate event of default if (i) Landlord shall not have at all required times a valid letter of credit in the form and amounts set forth above or (ii) if less than five (5) Business Days remain before any letter of credit held by Landlord expires. If Tenant shall fail to perform any of its obligations under the Lease beyond applicable notice and grace periods, if any, Landlord may, but shall not be obliged to, draw the entire amount of the letter of credit and apply the amount necessary to cure the default. The balance shall be held by Landlord as a security deposit for the performance of Tenant's remaining obligations hereunder, and Tenant shall be obligated upon demand to restore the cash security deposit from time to time to the amount of the letter of credit required hereunder prior to the original default by Tenant. Any cash security deposit at hereunder may be mingled with other funds of Landlord and no fiduciary relationship shall be created with respect to such deposit, nor shall Landlord be liable to pay Tenant any interest thereon. Within thirty (30) days after the rate expiration of two percent (2%) per year, payable at the end of each third year of Licensee's occupancythe Term, the letter of credit, to the extent not drawn or applied, shall be returned to Tenant, without interest.

Security Deposit. Licensee On execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by Landlord the University during sum specified in the definition of the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, as security for the full and faithful payment of all sums due under this Lease and the full and faithful performance of every covenant and condition of this Lease to be performed by Tenant. If Tenant shall breach or default with respect to any payment obligation or other covenant or condition of this Lease, Landlord may apply all or any partial part of the Security Deposit to the payment thereofof any sum in default or any damage suffered by Landlord as a result of such breach or default, and in such event, Tenant shall, upon demand by Landlord, deposit with Landlord the amount so applied so that Landlord shall have the full Security Deposit on hand at all times during the Lease Term. The University acknowledges thatLandlord's use or application of all or any portion of the Security Deposit shall not impair any other rights or remedies provided under this Lease or under Applicable Law and shall not be construed as a payment of liquidated damages. If Tenant shall have fully complied with all of the covenants and conditions of this Lease, subject the Security Deposit shall be repaid to damages prescribed by lawTenant, it shallwithout interest, within thirty (30) days Days after the termination expiration of this Lease. Tenant may not mortgage, assign, transfer or encumber the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, Security Deposit and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or such act on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedpart of Tenant shall be without force or effect. In the case event any bankruptcy, insolvency, reorganization or other creditor-debtor proceedings shall be instituted by or against Tenant, the Security Deposit shall be deemed to be applied first to the payment of Base Rent, Additional Rent and all other sums payable under this Lease to Landlord for all periods prior to the institution of such damageproceedings and the balance, if any, may be retained by Landlord and applied against Landlord's damages. In the event of transfer of Landlord's interest, the University Letter of Credit shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn be assignable at no cost or expense to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the PremisesLandlord. If for any reason the Licensee disagrees Letter of Credit is void or dishonored, Tenant will obtain a replacement Letter of Credit consistent with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyterms hereof.

Security Deposit. Licensee Upon the execution of this Lease, Tenant shall pay «Monthly_Fee» deposit with Landlord the sum of $62,000.00 (an amount not hereinafter referred to exceed one month's License Fee) as "Deposit"), as security for the prompt, full and faithful performance by Tenant of each and every provision of this Lease and of all obligations of Tenant hereunder. No interest shall be paid to Tenant on the Collateral and Landlord may co-mingle the collateral with any other funds of Landlord. If Tenant fails to perform any of its obligations hereunder, Landlord may use, apply or before «Start_Date» to be held by retain the University during the term hereof, whole or any extension part of the Deposit for the payment of (a) any rent or renewalother sums of money which Tenant may not have paid when due, as a security deposit pursuant to (b) any sum expended by Landlord on Tenant's behalf in accordance with the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEprovisions of this Lease, nor shall and/or (c) any damages which Landlord may sustain or sums which Landlord may expend or be limited required to expend by reason of Tenant's default, including, without limitation, any damage or deficiency in or from the amount reletting of the security depositPremises as provided in Paragraph 21. The University shall furnish Licensee with a separate receipt at use, application or retention of the time of receiving the Security Deposit, or any partial payment portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law (it being intended that Landlord shall not first be required to proceed against the Deposit) and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. The University acknowledges thatIf any portion of the Deposit is used, subject to damages prescribed applied or retained by lawLandlord for the purposes set forth above, it shallTenant agrees, within thirty (30) ten days after the termination of written demand therefore is made by Landlord, to deposit cash with the License or upon Licensee's vacating Landlord in an amount sufficient to restore the premises completely together Deposit to its original amount. If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Lease, whichever shall last occurthe Deposit, return the security deposit or any balance thereof, and any shall be returned to Tenant without interest thereon, if due, within 30 days after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee expiration of the Term or any person under Licensee's control or on within 30 days after which Tenant has vacated the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedPremises. In the case absence of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list evidence satisfactory to Landlord of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature any permitted assignment of the damages and right to receive the Deposit, or of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any remaining balance thereof, and any accrued interest, Landlord may return the same to the Universityoriginal Tenant, regardless of one or more assignments of Tenant's successor interest in this Lease or the Deposit. In such event, upon the return of the Deposit, or the remaining balance thereof to the original Tenant, Landlord shall be completely relieved of liability under this Paragraph 24 or otherwise with respect to the Deposit. Tenant acknowledges that Landlord has the right to transfer or mortgage its interest in the Property and in this Lease and Tenant agrees that in the event of any such transfer or mortgage, Landlord shall have the right to transfer or assign the Deposit to the transferee or mortgagee. Upon written acknowledgment of transferee's or mortgagee's receipt of such Deposit, Landlord shall thereby be released by Tenant from all liability or obligation for the benefit return of Licensee. If such Deposit and Tenant shall look solely to such transferee or mortgagee for the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount return of the security deposit at the rate of two percent (2%) per yearDeposit. The Deposit shall not be mortgaged, payable at the end of each year of Licensee's occupancyassigned or encumbered in any manner whatsoever by Tenant.

Security Deposit. Licensee Upon execution of this Lease, Tenant shall pay «Monthly_Fee» deliver to Landlord (i) the sum of Four Hundred Fifty Thousand Dollars ($450,000) by wire transfer or cashier's check and (ii) commencing on May I, 2007 through and including February 1, 2010, in advance on a monthly basis, the sum of $3,000, until such time as the additional deposits shall reach a total of $100,000 (collectively, the "Security Deposit"), as security for Tenant's prompt payment and performance of all of Tenant's obligations hereunder (and not as prepaid rent). Landlord shall not be required to keep the Security Deposit separate from Landlord's other accounts and no trust relationship shall be created with respect to the Security Deposit. In no event shall the Security Deposit be in lieu of or excuse Tenant from paying any portion of the Monthly Rent or any other Payment due and payable by Tenant hereunder at any time during the Term of this Lease. The taking of the Security Deposit by Landlord shall in no way be a bar or defense to any action in unlawful detainer for the recovery of possession of the Premises or any other right or remedy that Landlord may at any time exercise upon Tenant's Default or breach of this Lease. No interest shall be payable by Landlord on the Security Deposit. Without waiving any of Landlord's rights or remedies hereunder, at law or in equity, Landlord may, at Landlord's option, apply all or any part of the Security Deposit to any unpaid Monthly Rent or other Payment due and payable by Tenant from time to time under this Lease (including but not limited to late charges), or to cure any other Default or breach of Tenant hereunder (including, but not limited to, the cost of maintenance and repair of the Premises). Upon the expiration of the Term of this Lease and Tenant's prompt surrender of possession of the Premises in accordance with the terms of this Lease, and provided that Tenant is not then in default hereunder (and/or no event has occurred which, with the giving of notice or the passage of time, could give rise to a default hereunder), Landlord shall return any portion of the Security Deposit to Tenant that has not been so applied by Landlord. Should all or any portion of the Security Deposit be so applied by Landlord at any time from time to time during the Term of this Lease, Tenant shall, upon the written request of Landlord promptly remit to Landlord an amount not sufficient to exceed one month's License Fee) on or before «Start_Date» to be held by restore the University during the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited Security Deposit to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security DepositDeposit immediately prior to such application, or any partial payment thereof. The University acknowledges that, subject and Tenant's failure to damages prescribed by law, it shall, do so within thirty five (305) days after the termination receipt of the License or upon LicenseeLandlord's vacating the premises completely together with all written request therefor shall constitute a material default of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person Tenant under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis Lease.

Security Deposit. Licensee Within seven (7) days of execution by Tenant of this Lease, Tenant shall pay «Monthly_Fee» deliver to Landlord an irrevocable and unconditional standby letter of credit (an the "Letter of Credit") naming Landlord as beneficiary thereof in the full amount not of the Security Deposit set forth in Article I hereof in a form reasonably acceptable to exceed one monthLandlord, which shall secure the performance by Tenant of all obligations on the part of Tenant hereunder. The issuer of the Letter of Credit shall be a banking institution with at least a rating of A and otherwise reasonably acceptable to Landlord. Although Landlord shall only have the right to draw under the Letter of Credit in the event of a default as set forth herein, under the terms of the Letter of Credit, the sole condition to Landlord's License Fee) draw upon the Letter of Credit shall be presentment to the issuer thereof, prior to or on or before «Start_Date» the expiration date of the Letter of Credit, of a demand for payment. The Letter of Credit shall be self-renewing from year to be held by the University year during the term hereofof this Lease so as to expire no earlier than thirty (30) days following the Lease expiration date and shall contain such other customary terms as Landlord requires in its reasonable discretion, or any extension or renewalincluding, as but not limited to, a security deposit pursuant provision that the Letter of Credit is transferable to Landlord's successors and assigns and a provision which allows the Landlord to make multiple draws on the Letter of Credit, up to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEstated amount thereof. If Landlord receives any draw on the Letter of Credit, nor Tenant, within fifteen (15) days after the date of such draw, shall any damages cause the issuer of the Letter of Credit to restore the amount which may be limited drawn on the Letter of Credit to the full amount of the security depositSecurity Deposit. The University For and during the Term, Landlord shall furnish Licensee with a separate receipt at have the irrevocable right, without further notice or approval of Tenant but not the obligation from time to time without prejudice to any other remedy Landlord may have on account thereof, to apply the Security Deposit or any portion thereof or interest thereon, to Landlord's damage resulting from any default after applicable grace and cure periods by Tenant. On termination of receiving the Term, the Security Deposit, or any partial payment thereof. The University acknowledges thatthe portion thereof then held by Landlord shall be returned to Tenant, subject to damages prescribed by law, it shall, within thirty (30) days after beyond the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair cure the breach of any damage caused provision of this Lease by Tenant. If all or any part of the Security Deposit is applied to an obligation of Tenant hereunder, Tenant shall immediately upon request by Landlord restore the Security Deposit to its original amount. Tenant shall not have the right to call upon Landlord to apply all or any part of the Security Deposit to cure any default or fulfill any obligation of Tenant, but such use shall be solely in the discretion of Landlord. Upon any conveyance by Landlord of its interest under this Lease, the Security Deposit shall be delivered by Landlord to Landlord's grantee or transferee. Upon any such delivery, Tenant hereby releases Landlord herein named of any and all liability with respect to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consentSecurity Deposit, reasonable wear its application and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct itreturn, and written evidence, Tenant agrees to look solely to such as estimates, bills, invoices grantee or receipts, indicating the actual estimated costs thereoftransferee. The University It is further understood that this provision shall submit also apply to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises subsequent grantees and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancytransferees.

Security Deposit. Licensee Prior to taking possession of the Premises, Tenant shall pay «Monthly_Fee» (an amount not to exceed deposit with Landlord the sum of one month's License Fee) on or before «Start_Date» ’s gross rent, which deposit is to be held by the University during the term hereofLandlord, or any extension or renewalwithout liability for interest, as a security and damage deposit pursuant for the faithful performance by T▇▇▇▇▇ during the Term hereof. In the event of a failure of Tenant to keep and perform any of the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEterms, nor covenants and conditions of this Lease to be kept and performed by Tenant, then Landlord, either with or without terminating this Lease, may (but shall any not be required to) apply such portion of said deposit as may be necessary to compensate or repay Landlord for all losses or damages sustained or to be sustained by Landlord due to such breach on the part of Tenant, including, but not limited to overdue and unpaid rent, any other sum payable by Tenant to Landlord, damages or deficiencies in the amount reletting of the security depositPremises, and reasonable attorneys’ fees incurred by Landlord. The University shall furnish Licensee Should any portion of the deposit be appropriated and applied by Landlord in accordance with a separate receipt at the time of receiving the Security Depositthis paragraph, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it Tenant shall, upon demand by Landlord, immediately replenish said deposit to its original amount, and Tenant’s failure to do so within thirty fifteen (3015) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever Landlord’s demand shall last occur, return the constitute a default under this Lease. The security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for returned to Tenant (less any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused depletion thereof pursuant to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%this paragraph) per year, payable at the end of each year the Term or upon earlier termination of Licensee's occupancythis Lease. Tenant shall have no right to anticipate return of the deposit by withholding any amount required to be paid pursuant to the provisions of this Lease or otherwise.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on On or before «Start_Date» to be held by December 20th, 1991, Tenant shall deposit with Landlord the University during the term hereof, or any extension or renewal, sum of Seventy Thousand and No/100 Dollars ($70,000.00) as a security deposit pursuant deposit. If Tenant defaults with respect to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEany provisions of this Lease, nor shall any damages be including but not limited to the amount provisions relating to payment of rent or other charges. Landlord may, to the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Depositextent reasonably necessary to remedy Tenant's default, use all or any partial part of said deposit for the payment thereofof rent or other charges in default or the payment of any other payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. The University acknowledges thatIf any portion of said deposit is so used or applied, subject to damages prescribed by law, it Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore said deposit to the full amount hereinabove stated and shall pay to Landlord such other sums as shall be necessary to reimburse Landlord for any sums paid by Landlord. Said deposit shall be returned to Tenant within thirty (30) days after the termination expiration of the License or upon Licensee's vacating the premises completely term hereof less any amount deducted in accordance with this paragraph, together with all of LicenseeLandlord's goods written notice itemizing the amounts and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedpurposes for such retention. In the case event of such damagetermination of Landlord's interest in this Lease, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University Landlord shall transfer the security said deposit or any balance thereof, and any accrued interest, to the UniversityLandlord's successor in interest for interest. Notwithstanding the benefit foregoing provisions of Licensee. If the this paragraph 5, Landlord agrees that in lieu of a cash security deposit is held for one year or longer from in the commencement amounts specified above, Tenant may deposit an irrevocable letter of Licensee's occupancycredit in favor of Landlord in the initial sum of Seventy Thousand and No/100 Dollars ($70,000.00), Licensee in a form reasonably acceptable to Landlord. Landlord shall be entitled to interest on draw against the letter of credit in accordance with the preceding paragraph, provided that Landlord certifies to the issuer of the letter of credit under penalty of perjury that Tenant is in default under the Lease (as defined in paragraph 22 hereof). Tenant shall keep the letter of credit in effect during the entire Lease Term, as the same may be extended, plus a period of eight (8) weeks thereafter. At least sixty (60) days prior to expiration of any letter of credit, the term thereof shall be renewed or extended. Tenant's failure to so renew or extend the letter of credit shall be a material default of this Lease by Tenant. If Landlord draws against the letter of credit, Tenant shall replenish the existing letter of credit or cause a new letter of credit to be issued such that the aggregate amount of letters of credit available to Landlord at all times during the Lease Term is the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.required herein

Security Deposit. Licensee Section 30.1 Tenant has deposited with Landlord the sum of One Hundred Thirteen Thousand Four Hundred Forty and 00/100 Dollars ($113,440.00) as security for the full and faithful performance of every provision of this Lease to be performed by Tenant (all or any part of such amount, the "Security Deposit"). If an Event of Default shall pay «Monthly_Fee» have occurred with respect to any provision of this Lease, including the provisions relating to the payment of Fixed Rent and Additional Rent, Landlord may use, apply or retain all or any part of this Security Deposit for the payment of any Fixed or Additional Rent or any other sum in default or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of such Event of Default, or to compensate Landlord for any other loss, cost or damage which Landlord may suffer by reason of such Event of Default. Landlord shall give Tenant notice contemporaneously with such use or application of any portion of the Security Deposit. Tenant shall, within five (5) days after the giving of such notice, deposit with Landlord cash in an amount not sufficient to exceed one month's License Fee) on or before «Start_Date» restore the Security Deposit to be held by the University during the term hereof, or any extension or renewal, as a security deposit amount then required pursuant to the terms of this Article 30 (Tenant's obligation to make such payment shall be deemed a requirement that Tenant pay an item of Additional Rent) and Tenant's failure to do so shall be a breach of this Lease. Landlord shall deposit the Security Deposit in a standard interest-bearing security deposit account in a bank located in New York State. The interest shall be paid to Tenant annually, within a reasonable time following the date upon which the depository bank customarily makes interest payments. 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. Tenant shall not assign or encumber any part of the Security Deposit, and no assignment or encumbrance by Tenant of all of any part of the Security Deposit shall be binding upon Landlord, whether made prior to, during, or after the Term. Landlord shall not be required to exhaust its remedies against Tenant or against the Security Deposit before having recourse to any other form of security held by Landlord and recourse by Landlord to any Security Deposit shall not affect any remedies of Landlord which are provided in this Lease or which are available to Landlord in law or in equity. So long as no Event of Default shall have occurred and be continuing, the Security Deposit or any balance thereof shall be returned to Tenant reasonably promptly after the expiration or sooner termination (other than a termination pursuant to Article 16 hereof) of the Term and Tenant's surrender to Landlord of the Premises. In the event the Building is sold, Landlord shall transfer the Security Deposit to the new owner and Landlord shall thereupon be released by Tenant from all liability for the return of said Security Deposit; it being understood and Tenant agrees to look to the new owner solely for the return of the Security Deposit. A lease of the entire Building shall be deemed a transfer within the meaning of the foregoing sentence. Landlord shall use reasonable efforts to notify or cause Tenant to be notified in the event of any transfer of the Building. Section 30.2 In lieu of a cash deposit, Tenant may deliver to Landlord a clean, irrevocable, non-documentary and unconditional Letter of Credit issued by and drawn upon any commercial bank, trust company, national banking association or savings and loan association having offices for banking purposes in the City of New York and which is a member of the New York Clearinghouse Association (the "Issuing Bank") and which (or the parent company of which) shall have outstanding unsecured, uninsured and unguaranteed indebtedness, or shall have issued a letter of credit or other credit facility that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEconstitutes the primary security for any outstanding indebtedness (which is otherwise uninsured and unguaranteed), nor that is then rated, without regard to qualification of such rating by symbols such as "+" or "-" or numerical notation, "Aa" or better by ▇▇▇▇▇'▇ Investors Service and "AA" or better by Standard & Poor's Corporation, and has combined capital, surplus and undivided profits of not less than $500,000,000.00, which Letter of Credit shall any damages have a term of not less than one year, be limited in form and content satisfactory to Landlord (and substantially as shown on Exhibit E annexed hereto and made a part hereof), be for the account of Landlord, be in the amount of the security depositSecurity Deposit then required to be deposited hereunder, and be fully transferable by Landlord to successor owners of the Building without the payment of any fees or charges, it being agreed that if any such fees or charges shall be so imposed, then such fees or charges, shall be paid by Tenant. The University Letter of Credit shall furnish Licensee with a separate provide that it shall be deemed automatically renewed, without amendment, for consecutive periods of one year each thereafter during the term of this Lease, unless the Issuing Bank sends notice (the "Non-Renewal Notice") to Landlord by certified mail, return receipt at the time of receiving the Security Depositrequested, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within not less than thirty (30) days after next preceding the termination then expiration date of the License Letter of Credit that it elects not to have such Letter of Credit renewed. Additionally, the Letter of Credit shall provide that Landlord shall have the right, exercisable within twenty (20) days of its receipt of the Non-Renewal Notice, by sight draft on the Issuing Bank, to receive the monies represented by the existing Letter of Credit and to hold such proceeds pursuant to the terms of this Section 30.2 as a cash security pending the replacement of such Letter of Credit. If an Event of Default shall have occurred and be continuing with respect to any provision of this Lease, including the provisions relating to the payment of Fixed Rent and Additional Rent, Landlord may apply or upon Licensee's vacating retain the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit whole or any balance thereof, part of the cash security so deposited or may notify the Issuing Bank and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to thereupon receive all the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to monies represented by the University or its agent under pains Letter of Credit and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.use,

Security Deposit. Licensee Upon execution of the Concession Agreement, Concessionaire shall pay «Monthly_Fee» deposit with the Trust the amount provided in Part I, Section 1.8 (an amount not “Security Deposit”) by certified check payable to exceed one month's License Fee) on “▇▇▇▇▇▇ River Park Trust” or before «Start_Date» to be held the order of such other entity as The Trust may designate in writing. The Trust may use, retain or apply all or any portion of the Security Deposit to satisfy any cost or expense arising from the occurrence of a default by the University during the term hereofConcessionaire hereunder, or any extension other cost or renewalexpense incurred by The Trust in connection with the failure of Concessionaire to pay Fees hereunder, as a security deposit pursuant when such Fees or other amount becomes due and payable, or the failure of Concessionaire to perform when due any other term, covenant or condition of the Concession Agreement, or to satisfy any liability incurred by Concessionaire to the terms hereof; it being understood Trust, provided that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall the application of any damages be limited portion of the Security Deposit to the cure of any such default shall not be deemed to have cured such default unless the entire outstanding amount due or damages suffered by the Trust shall have been paid in full. If the Trust uses or applies the Security Deposit or any part thereof for any of the security depositforegoing purposes, Concessionaire shall immediately deposit with The Trust an amount sufficient to restore the Security Deposit to its amount prior to such use or application. The University Security Deposit shall furnish Licensee with a separate receipt at be returned to the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, Concessionaire within thirty (30) days after the expiration or termination of the License Concession Agreement, without interest, subject to any outstanding substantiated claims, costs or upon Licensee's vacating liabilities that the premises completely together with all Trust, has or may reasonably expect to have, that are attributable to or arise out of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to use of the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyConcessionaire.

Security Deposit. Licensee Simultaneously with Tenant’s execution of this Lease, Tenant shall pay «Monthly_Fee» deposit with Landlord the Security Deposit Amount (an amount not to exceed one month's License Feeas defined in Section 1.2(l)) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a security deposit which shall be security for the performance by Tenant of all of Tenant’s obligations, covenants, conditions and agreements under this Lease. Landlord shall not be required to maintain such security deposit in a separate account. Except as may be required by law, Tenant shall not be entitled to interest on the security deposit. Subject to Section 15.2, below, within approximately forty-five (45) days after the later of the expiration or earlier termination of the Lease Term or Tenant’s vacating the Demised Premises (or within such shorter period, if any, as required by the jurisdiction in which the Building is located), Landlord shall return such security deposit to Tenant, less such portion thereof as Landlord shall be entitled pursuant to the terms hereof; it being understood hereof to have appropriated to satisfy any of Tenant’s obligations, or any default by Tenant, under this Lease. If there shall be any Event of Default under this Lease by Tenant, then Landlord shall have the right, but shall not be obligated, to use, apply or retain such portion of the security deposit as needed for the payment of any (a) Base Annual Rent, Additional Rent or any other sum as to which Tenant is in Event of Default, or (b) amount Landlord may spend or become obligated to spend, or for the compensation of Landlord for any losses incurred, by reason of Tenant’s Event of Default (including, but not limited to, any damage or deficiency arising in connection with the reletting of the Demised Premises). If the security deposit is in the form of cash and if any portion of the security deposit is so used or applied, then within three (3) business days after Landlord gives written notice to Tenant of such use or application, Tenant shall deposit with Landlord cash in an amount sufficient to restore the security deposit to the original Security Deposit Amount, and Tenant’s failure to do so shall constitute an Event of Default under this Lease. The Security Deposit Amount shall be deemed Additional Rent and all remedies, including but not limited to possession of the Demised Premises, available to Landlord with respect to Additional Rent shall be applicable to the security deposit amount. Notwithstanding anything to the contrary contained in this Lease, the full or partial return by Landlord to Tenant of the security deposit shall at no time be deemed to constitute a waiver by Landlord of any of Tenant’s obligations under this Lease, or an acknowledgment by Landlord that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be such obligations are limited to the amount amount, if any, of the security depositdeposit retained by Landlord. (a) Notwithstanding anything to the contrary in Section 15.1 of this Lease, the amount stipulated above as a security deposit shall be in the form of an irrevocable and unconditional letter of credit from a bank reasonably satisfactory to Landlord (Landlord hereby pre-approves Bank of America as the initial issuer) and in either the form attached hereto as Exhibit I, or, if the issuer of the letter of credit is not Bank of America, then in a form which does not materially differ from the form attached hereto as Exhibit I (as determined by Landlord). The University If the letter of credit would expire during the Lease Term, Tenant shall furnish Licensee replace the letter of credit at least thirty (30) days prior to its expiration. If Tenant has not, at least thirty (30) days prior to the expiration of the letter of credit, delivered a replacement letter of credit having an expiration date at least six months later, Landlord may convert any letter of credit then held by Landlord into a cash deposit in the full amount thereof. In the event that Tenant’s Security Deposit is reduced to cash as stated in the foregoing sentence, then Tenant shall have the right to deliver to Landlord a replacement letter of credit, and in such event Landlord agrees to return the cash Security Deposit to Tenant. If Tenant is in an Event of Default, then the letter of credit may at Landlord’s option be converted into a cash deposit and applied to sums due Landlord, provided, however, Landlord shall only be entitled to convert portions of the letter of credit necessary to reimburse Landlord for such sums as Landlord is entitled to be reimbursed for pursuant to Section 15.1. In the event the bank which has issued the letter of credit (A) long term unsecured debt drops below Aa3 under ▇▇▇▇▇’▇ rating system and AA- under Standard & Poors rating system (or the equivalent rating under such other rating system as is reasonably acceptable to Landlord), (B) becomes insolvent, and/or (C) fails to cash the letter of credit within three business days after presentation by Landlord in accordance with the terms of the letter of credit (including all supporting documents which Landlord is lawfully required to provide); then Landlord shall have the option to require Tenant to immediately supply a separate receipt new letter of credit from another bank reasonably satisfactory to Landlord (without waiving any other rights and remedies Landlord may have under the Lease, at the time of receiving the Security Depositlaw, or in equity upon an Event of Default by Tenant). Failure by Tenant to deliver a substitute letter of credit or provide another form of security deposit (e.g., cash) acceptable to Landlord within five (5) business days following written demand by Landlord shall be a non-curable default of this Lease. An issuing bank shall be deemed insolvent if it shall have been taken over (meaning under the control of) by any partial payment thereofgovernmental regulatory authority with jurisdiction to do so, if it shall file for bankruptcy protection (including appointment of a receiver), or if a majority of its branches fail to open for regular business upon any day it is required by law to be open for business. The University acknowledges thatIf Tenant is not in default and the pre-conditions set forth in Article 15.1 are met, subject to damages prescribed any letter of credit then held by law, it shall, Landlord shall be cancelled within thirty (30) days after the expiration or earlier termination of the License or upon Licensee's vacating the premises completely together with all this Lease. (b) Provided Tenant is not in an Event of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereofDefault, and has not been in an Event of Default at any interest thereontime within twenty-four (24) months prior thereto (this requirement is not subject to the provisions of Section 12.5), if due, after deductingthen: (1i) Any unpaid License fees; At the end of the Fifth (25th) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damageLease Year, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the required minimum amount of the security deposit at letter of credit shall be reduced to Six Hundred Sixty-Six Thousand, Six Hundred Sixty-Six and 67/100 Dollars ($666,666.67); and (ii) Tenant may replace the rate then-current letter of two percent credit with a new letter of credit (2%) per year, payable at or an amended letter of credit in the end of each year of Licensee's occupancyreduced required minimum amount).

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term Concurrently with execution hereof, or ▇▇▇▇▇▇ has paid to Landlord the Security Deposit set forth in the Basic Lease Information (the “Security Deposit”) as security for the full and faithful performance of Tenant’s obligations under this Lease and for the payment of any extension or renewal, damages incurred by Landlord as a security deposit result of an Event of Default or breach hereunder (including, without limitation, amounts which Landlord may be entitled to recover pursuant to the terms hereofprovisions of Sections 1951.2 or 1951.4 of the California Civil Code); provided, however, that the Security Deposit is not an advance rent deposit or an advance payment of any other kind, nor a measure of Landlord’s damages upon ▇▇▇▇▇▇’s default. Landlord shall have no obligation to segregate the Security Deposit from its general funds or to pay interest thereon. Landlord may in its sole discretion (but shall not be required to) use the Security Deposit or any portion thereof to cure any failure by Tenant to perform any of its covenants or obligations hereunder or to compensate Landlord for any damage Landlord incurs as a result of Tenant’s failure to perform any of its covenants or obligations hereunder, it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor any use of the Security Deposit shall not constitute a bar or defense to any damages be limited of Landlord’s remedies under this Lease or at law. In such event and with five (5) days of written notice from Landlord to Tenant specifying the amount of the security depositSecurity Deposit so utilized by Landlord and the particular purpose for which such amount was applied, Tenant shall immediately deposit with Landlord an amount sufficient to return the Security Deposit to the amount specified in the Basic Lease Information. The University Tenant’s failure to make such payment to Landlord within five (5) days of Landlord’s notice shall furnish Licensee constitute an Event of Default under this Lease without the necessity of further notice, and Tenant hereby acknowledges that attachment will be a proper remedy by which Landlord may seek to recover the amount which ▇▇▇▇▇▇ has then failed to pay. Following the expiration or termination of this Lease, Landlord shall return to Tenant the Security Deposit or the balance thereof then held by Landlord; provided, however, that: (i) Landlord shall not be obligated to return the Security Deposit or any part thereof until all breaches by Tenant of its obligations under this Lease have been cured and all damages which Landlord may suffer in connection with any such breach have been ascertained in amount and paid in full, including both future rents and damages under Section 1951.2 of the California Civil Code; (ii) in no event shall any such return be construed as an admission by Landlord that Tenant has performed all of its covenants and obligations hereunder; and (iii) Tenant hereby waives any rights which it may now or hereafter have under Section 1950.7 of the California Civil Code (excluding subsection (b), but it being understood that nothing herein will limit Landlord’s right to deduct prospective damages from the Security Deposit). If Landlord conveys or transfers its interest in the Premises, and as a separate receipt at the time part of receiving the such conveyance or transfer, assigns its interest in this Lease and Security Deposit, or any partial payment thereofportion thereof not previously applied, the Security Deposit shall be transferred to Landlord’s successor and Landlord shall be released and discharged from any further liability to Tenant with respect to such Security Deposit. The University acknowledges If Tenant has assigned its interest in this Lease, Landlord shall return that portion of the Security Deposit, if any, which would have been returned to Tenant to the assignee instead of to Tenant, and Landlord shall be released of all liability to Tenant in connection with the Security Deposit. In no event shall any mortgagee or beneficiary under a mortgage or deed of trust encumbering all or any portion of the Project, or any purchaser of all or any portion of the Project at a public or private foreclosure sale or exercise of a power of sale under such mortgage or deed of trust, have any liability or obligation whatsoever to Tenant or Tenant’s successors or assigns for the return of all or any part of the Security Deposit in the event any such mortgagee, beneficiary or purchaser becomes a mortgagee in possession or succeeds to the interest of Landlord under this Lease unless, and then only to the extent that, subject to damages prescribed by lawsuch mortgagee, it shall, within thirty (30) days after the termination beneficiary or purchaser has received all or any part of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySecurity Deposit.

Security Deposit. Licensee (a) The Dealer shall, whenever called upon by the Corporation to do so, lodge with the Corporation deposits of such sums of money as may be stipulated by the Corporation from time to time as Security for the due fulfillment of the obligations and undertakings hereunder and for securing payment of all sums due to the Corporation. Such deposits shall be in cash or securities approved in writing by the Corporation and endorsed in favour of the Corporation. The Corporation will not allow interest to the Dealer on cash deposits but in the case of securities yielding interest, the Corporation may without being bound to do so, collect the interest thereon, and pay «Monthly_Fee» (an the amount not thereof to exceed one month's License Fee) on the Dealer. The document of deposit or before «Start_Date» to security, etc. shall be held by the University during Corporation subject to such further terms and conditions as may be stipulated by the term hereofCorporation from time to time. The Dealer agrees that the Corporation shall be under no obligation to the Dealer with regard to nor shall the Dealer be entitled to any benefit arising out of and the manner of use or disposal of the funds received as deposits, etc. from the Dealer. (b) Any such deposit shall be regarded by the Dealer as Security Deposit only and the Dealer shall have no right to claim that the Security Deposit be utilised in payment of any of the due(s) to the Corporation. The Corporation may, however, at any time at its discretion sell the approved securities and apply the sale proceeds of the securities or any extension or renewalpart thereof in payment pro-tanto of any amount due to it by the Dealer and the Dealer hereby authorises the Corporation to do so. Should the Corporation at any time do so advise the Dealer of the same, the Dealer shall forthwith lodge with the Corporation such further sums in cash as a may be necessary to restore the Dealer’s security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEErequired extent. The Dealer shall not be entitled to raise any dispute with regard to time or the price at which or the manner in which the approved securities or any of them may be sold by the Corporation. The. amount representing the said deposit or the approved securities shall be returnable to the Dealer only on the termination of this Agreement and after receipt by the Corporation of its deposit receipt duly discharged and after all accounts whatsoever in connection with this Agreement and/or in connection with the Dealer’s dealings, nor shall if any, in any damages other products or goods of the Corporation, whether under a written agreement or otherwise, have been finally settled and the obligations hereunder and in particular under clause 36 have been fully discharged. (c) In the event of the death of the dealer, if the dealer be limited to an individual, the Corporation will return the amount of the security deposit. The University shall furnish Licensee , after making all necessary deductions, against presentation of the deposit receipt only to such person or persons who establish title to receive the same from the Corporation after complying with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages requirements that may be prescribed by law, it shall, within thirty the Corporation in that regard. (30d) days after In the termination event of the License or upon Licensee's vacating death of a partner in the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damageDealer’s firm, the University Corporation shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit, after making all necessary deductions, against presentation of the deposit at receipt duly signed by the rate surviving partners and such person or persons who establish title to the estate of two percent the deceased partner after complying with the requirements that may be prescribed by the Corporation in that regard. The receipt issued by the Corporation shall alone be proof of the deposit with the Corporation and of the value thereof. (2%e) per yearIn the event of any change in the constitution of the Dealership firm and in case, payable at the end Corporation exercises its option under Clause 29 hereof to continue the Dealership with the changed partnership, the continuing partner(s) shall forthwith lodge with Corporation as security deposit, such sum of each year of Licensee's occupancymoney as may be determined by the Corporation and called upon to deposit.

Security Deposit. Licensee (a) For the faithful performance of all terms, covenants and conditions of this Lease, Tenant shall pay «Monthly_Fee» to and deposit with Landlord, a security deposit in the amount of Five Hundred Thousand Dollars and 00/100 ($500,000.00) as follows (the "SECURITY DEPOSIT"): the sum of Two Hundred Thousand Dollars and 00/100 ($200,000.00) payable 3 <PAGE> upon the execution of this Lease; One Hundred Thousand Dollars and 00/100 ($100,000.00) payable on March 1, 2000 and, upon Landlord's completion of the Base Building Improvements, an unconditional, clean, letter of credit (the "L-C") in the initial amount of Two Hundred Thousand Dollars ($200,000.00), which L-C shall be issued by a money-center bank (a bank which accepts deposits, maintains accounts, has a local Fairfield County office which will negotiate a letter of credit, and whose deposits are insured by the FDIC) reasonably acceptable to Landlord, and which L-C shall be in a form and content reasonably acceptable to Landlord. Tenant shall pay all expenses, points and/or fees incurred by Tenant in obtaining the L-C. (b) The L-C shall not be mortgaged, assigned or encumbered in any manner whatsoever by Tenant without the prior written consent of Landlord. If Tenant defaults with respect to exceed one monthany provisions of this Lease, including, but not limited to, the provisions relating to the payment of Rent, or if Tenant fails to renew the L-C at least thirty (30) days before its expiration, Landlord may, but shall not be required to, draw upon all or any portion of the L-C for payment of any Rent or any other sum in default, or for the payment of any amount that Landlord may reasonably spend or may become obligated to spend by reason of Tenant's License Fee) default, or to compensate Landlord for any other loss or damage that Landlord may suffer by reason of Tenant's default. The use, application or retention of the L-C, or any portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law, it being intended that Landlord shall not first be required to proceed against the L-C and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. Any amount of the L-C which is drawn upon by Landlord, but is not used or before «Start_Date» to applied by Landlord, shall be held by the University during the term hereof, or any extension or renewal, as Landlord and deemed a security deposit pursuant (the "L-C Security Deposit"). If any portion of the L-C is drawn upon, Tenant shall, within five (5) days after written demand therefor, either (i) deposit cash with Landlord (which cash shall be applied by Landlord to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages L-C Security Deposit) in an amount sufficient to cause the sum of the L-C Security Deposit and the amount of the remaining L-C to be limited equivalent to the amount of the L-C then required under this Lease or (ii) reinstate the L-C to the amount then required under this Lease, and if any portion of the L-C Security Deposit is used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord (which cash shall be applied by Landlord to the L-C Security Deposit) in an amount sufficient to restore the L-C Security Deposit to the amount then required under this Lease, and Tenant's failure to do so shall be a default under this Lease. Tenant acknowledges that Landlord has the right to transfer or mortgage its interest in the Project and the Building and in this Lease and Tenant agrees that in the event of any such transfer or mortgage, Landlord shall have the right to transfer or assign the L-C Security Deposit and/or the L-C to the transferee or mortgagee, and in the event of such transfer and the assumption by the transferee of all of the Landlord's obligations under this Lease, Tenant shall look solely to such transferee or mortgagee for the return of the L-C Security Deposit and/or the L-C. (c) Provided Tenant is not in default of any of the terms, provisions and/or conditions of this Lease, Landlord shall return a portion of the Security Deposit to Tenant as follows: One Hundred Thousand Dollars ($100,000.00) within sixty (60) days following the end of the first Lease Year and, One Hundred Thousand Dollars ($100,000.00) within sixty (60) days following the end of the second Lease Year. (d) Tenant agrees that Landlord may, without waiving any of Landlord's other rights and remedies under this Lease upon the occurrence of any of the Events of Default described in Article 13 hereof, apply the Security Deposit (i) to remedy any failure by Tenant to repair or maintain the Premises or to perform any other terms, covenants or conditions contained herein, or (ii) to compensate Landlord for damages incurred, or to reimburse Landlord as provided herein, in connection with any such Event of Default. Should Landlord use any portion of the Security Deposit to cure any Event of Default by Tenant hereunder, Tenant shall forthwith replenish the Security Deposit to the original amount. Landlord shall not be required to keep the Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on any such deposit. (e) In the event of a sale or leasing of the Building, Landlord shall have the right to transfer the balance of the Security Deposit to the new owner or to tenant. Landlord shall thereupon be released by Tenant from all liability for the return of the Security Deposit; and Tenant agrees to look to the new landlord. If any mortgagee, including Landlord's Mortgagee (defined in Section 14.01(a) below) should succeed to Landlord's interests hereunder, such mortgagee should only be liable to Tenant for any security deposit. The University shall furnish Licensee with a separate receipt at deposited by Tenant hereunder to the time extent such security was actually transferred to such mortgagee. (f) If Tenant performs all of receiving Tenant's obligations hereunder, Landlord will, within 30 days after the expiration or earlier termination of the Lease, return the remainder of the Security Deposit, or any partial payment thereof. The University acknowledges thatso much as has not been applied by Landlord, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University Tenant or the Universitylast permitted assignee of Tenant's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consentinterest hereunder 4 <PAGE> ARTICLE 5. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.ADDITIONAL RENT FOR ESCALATIONS IN REAL ESTATE TAXES AND OPERATING EXPENSES 5.01

Security Deposit. Licensee The required Security Deposit shall pay «Monthly_Fee» be in the form of an Irrevocable Standby Letter of Credit (an the “letter of credit”) in the amount not set forth in the Reference Pages. Under any circumstance under which ▇▇▇▇▇▇▇▇ is entitled to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, use of all or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, then Landlord, in addition to all other rights and remedies provided under this Lease, shall have the right to draw down all or a portion of the full balance of the letter of credit and retain the proceeds as cash security but otherwise subject to the provisions of this Article 5. The following terms and conditions shall govern the letter of credit: 5.1. Upon expiration of the Term, the letter of credit shall be returned to Tenant when ▇▇▇▇▇▇ is entitled to a return of its Security Deposit. 5.2. The letter of credit shall be in favor of Landlord, shall be issued by a commercial bank reasonably acceptable to Landlord, shall comply with all of the terms and conditions of this Article 5 and shall otherwise be in form reasonably acceptable to Landlord. If, at any time while the letter of credit is outstanding, (a) the issuing bank is declared insolvent or taken into receivership by the Federal Deposit Insurance Corporation or any partial payment thereof. The University acknowledges thatother governmental agency, subject or is closed for any reason, or (b) Landlord reasonably believes that the issuing bank may be or become insolvent or otherwise unable to damages prescribed by lawmeet its obligations, it shallthen, within not later than thirty (30) days after written notice from Landlord, Tenant shall cause the termination existing letter of the License or upon Licensee's vacating the premises completely together credit to be replaced by a new letter of credit issued by another commercial bank reasonably acceptable to Landlord, with such new letter of credit to comply with all of Licensee's goods the terms and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary conditions of this Section 5.2. If ▇▇▇▇▇▇ fails to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case deliver an acceptable replacement letter of credit within such damage, the University shall provide the Licensee, within thirty (30) daysday period, with Landlord shall have the right to present the existing letter of credit to the issuing bank for payment, and the entire sum so obtained shall be paid to Landlord, to be held by Landlord as cash security but otherwise subject to the provisions of this Article 5 until ▇▇▇▇▇▇ would otherwise be entitled to the return of the letter of credit. 5.3. The initial letter of credit shall have an itemized list expiration date not earlier than fifteen (15) months after the Commencement Date. A draft of damages, sworn the form of letter of credit must be submitted to Landlord for its approval prior to issuance. 5.4. The letter of credit or any replacement letter of credit shall be irrevocable for the term thereof and shall automatically renew on a year to year basis until a period ending not earlier than three (3) months after the Termination Date (the “End Date”) without any action whatsoever on the part of Landlord; provided that the issuing bank shall have the right not to renew the letter of credit by giving written notice to Landlord not less than sixty (60) days prior to the expiration of the then current term of the letter of credit that it does not intend to renew the letter of credit. ▇▇▇▇▇▇ understands that the election by the University issuing bank not to renew the letter of credit shall not, in any event, diminish the obligation of Tenant to maintain such an irrevocable letter of credit in favor of Landlord through such date. 5.5. Landlord, or its agent under pains and penalties then managing agent, shall have the right from time to time to make one or more draws on the letter of perjury, itemizing in precise detail credit at any time that Landlord has the nature right to use all or a part of the damages Security Deposit pursuant to this Article 5, and the proceeds may be applied as permitted under this Article 5. The letter of credit must state that it can be presented for payment at the office of the repairs necessary issuer or an approved correspondent in the metropolitan area in which the Building is located. Funds may be drawn down on the letter of credit upon presentation to correct itthe issuing or corresponding bank of Landlord’s (or Landlord’s then managing agent’s) certificate stating as follows: “”[Beneficiary] is entitled to the use of Applicant’s Security Deposit pursuant to that certain Lease dated August , 2009, between RAR2-▇▇▇▇▇▇ Corporate Center QRS, Inc., as Landlord, and written evidenceI-Therapeutix, Inc., as Tenant, as amended from time to time.” It is understood that if Landlord or its managing agent be a corporation, partnership or other entity, then such statement shall be signed by an officer (if a corporation), a general partner (if a partnership), or any authorized party (if another entity). 5.6. Tenant acknowledges and agrees (and the letter of credit shall so state) that the letter of credit shall be honored by the issuing bank without inquiry as estimates, bills, invoices or receipts, indicating to the actual estimated costs thereof. The University shall submit to Licensee a separate written statement truth of the present condition statements set forth in such draw request and regardless of whether the PremisesTenant disputes the content of such statement. 5.7. If In the Licensee disagrees with the University's statement event of condition, Licensee must attach a separate list transfer of any damage existing ▇▇▇▇▇▇▇▇’s interest in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, Landlord shall have the University shall right to transfer the security deposit or letter of credit to the transferee and Tenant shall take whatever action necessary to effectuate such transfer and thereupon the Landlord shall, without any balance thereoffurther agreement between the parties, be released by Tenant from all liability therefor, and any accrued interestit is agreed that the provisions hereof shall apply to every transfer or assignment of said letter of credit to a new landlord; provided, however, that Landlord or the new landlord pays all fees to the issuer necessary to evidence such transfer. 5.8. Without limiting the generality of the foregoing, if the letter of credit expires earlier than the End Date, or the issuing bank notifies Landlord that it will not renew the letter of credit, Landlord shall accept a renewal thereof or substitute letter credit (such renewal or substitute letter of credit to be in effect not later than thirty (30) days prior to the expiration of the expiring letter of credit), irrevocable and automatically renewable as above provided to the End Date upon the same terms as the expiring letter of credit or upon such other terms as may be acceptable to Landlord. However, if (a) the letter of credit is not timely renewed, or (b) a substitute letter of credit, complying with all of the terms and conditions of this Section is not timely received, then Landlord may present the expiring letter of credit to the issuing bank, and the entire sum so obtained shall be paid to Landlord, to be held by Landlord in accordance with this Article 5. Notwithstanding the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancyforegoing, Licensee Landlord shall be entitled to interest on receive from Tenant a fee in an amount up to but not exceeding Five Hundred and No/100 Dollars ($500.00) for actual attorneys’ fees incurred in connection with the amount review of any proposed substitute letter of credit pursuant to this Section 5.8. 5.9. Notwithstanding the security deposit at the rate above, so long as (a) there is no uncured Event of two percent Default (2%as defined below) per year, payable at the end of each year the twelve (12) month period following the Phase II Premises Commencement Date (the “First Anniversary Date”), (b) I-Therapeutix, Inc. or a Permitted Transferee (as defined below) shall then still be in occupancy of Licensee's occupancyat least 70% of the entire Premises under this Lease, and (c) Tenant has provided Landlord with its financial statements certified by Tenant’s Chief Financial Officer (“Certified Financial Statements”) evidencing that ▇▇▇▇▇▇ has earned a net profit for the two (2) fiscal quarters immediately preceding the First Anniversary Date as determined in accordance with generally accepted accounted principles consistently applied (“GAAP”) and otherwise satisfactory to Landlord (acting reasonably), then Tenant shall have the right, by notice given to Landlord, to request that the Security Deposit be reduced to $189,615.

Security Deposit. Licensee shall pay «Monthly_Fee» (Tenant hereby deposits with Landlord the Security Deposit, as security for the prompt, full and faithful performance by Tenant of each and every provision of this Lease and of all obligations of Tenant hereunder. If an amount not to exceed one month's License Fee) on Event of Default occurs, Landlord may use, apply or before «Start_Date» to be held by retain the University during the term hereof, whole or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security depositSecurity Deposit for the payment of (i) any Basic Rent or Additional Charges which Tenant shall not have paid or which may become due after the occurrence of such Event of Default, (ii) any sum expended by Landlord on Tenant's behalf in accordance with the provisions of this Lease or (iii) any sum which Landlord may expend or be required to expend by reason of Tenant's default, including Tenant's default, including damages or deficiency in the reletting of the Leased Premises as provided in Section 18 hereof. The University shall furnish Licensee with a separate receipt at the time use, application or retention of receiving the Security Deposit, or any partial payment portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. The University acknowledges thatIf any portion of the Security Deposit is used, subject to damages prescribed applied or retained by lawLandlord for the purposes set forth above, it shallTenant agrees, within thirty ten (3010) days after a written demand therefor is made by Landlord, to deposit cash with Landlord in an amount sufficient to restore the termination of the License or upon Licensee's vacating the premises completely together Security Deposit to its original amount. If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Lease, whichever shall last occurthe Security Deposit, return the security deposit or any balance thereof, and any interest thereonshall be timely returned to Tenant after the expiration of the Term, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedwithout interest. In the case absence of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list evidence satisfactory to Landlord of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature any permitted assignment of the damages and of right to receive the repairs necessary to correct itSecurity Deposit, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any remaining balance thereof, and any accrued interestLandlord may return the same to Tenant, to regardless of one or more assignments of Tenant's interest in this Lease or the University's successor in interest for Security Deposit. In such event, upon the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount return of the security deposit at the rate of two percent Security Deposit (2%or balance thereof) per yearto Tenant, payable at the end of each year of Licensee's occupancy.Landlord shall be

Security Deposit. Licensee The Security Deposit shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by Landlord as security for the University during performance of Tenant’s obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s Default. Upon each occurrence of a Default, Landlord may use all or part of the term hereofSecurity Deposit to pay delinquent payments due under this Lease, and the cost of any damage, injury, expense or liability caused by such Default, without prejudice to any other remedy provided herein or provided by law. Upon any. such use of all or any extension portion of the Security Deposit, Tenant shall pay Landlord on demand the amount that will restore the Security Deposit to its original amount. Upon bankruptcy or renewalother debtor-creditor proceedings against Tenant, as the Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for periods prior to the filing of such proceedings. Landlord’s obligation respecting the Security Deposit is that of a debtor, not a trustee; no interest shall accrue thereon. The Security Deposit shall be the property of Landlord, but shall be paid to Tenant when Tenant’s obligations under this Lease have been completely fulfilled. Landlord shall be released from any obligation with respect to the Security Deposit upon transfer of this Lease and the Premises to a person or entity assuming Landlord’s obligations under this Section 6. Tenant hereby waives the provisions of any law, now or hereafter in force, which provide that Landlord may claim from a security deposit pursuant only those sums reasonably necessary to remedy defaults in the terms hereof; payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being understood agreed that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEELandlord may, nor in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. If Tenant shall any damages fully perform every provision of this Lease to be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving performed by Tenant, the Security Deposit, or any partial payment balance thereof. The University acknowledges that, subject shall be returned to damages prescribed by lawTenant (or, it shallat Landlord’s option, to the last assignee of Tenant’s interest hereunder) within thirty (30) 90 days after the expiration or earlier termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis Lease.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term Upon execution hereof, Tenant shall deposit with Landlord the sum of SEVENTEEN THOUSAND ONE HUNDRED AND 00/XX DOLLARS ($17,100.00), in cash, which sum is the approximate equilvalent of two months’ Base Rent together with the estimated monthly share of operating expenses, electricity charges and Additional Rent, plus applicable sales tax thereon. The said sum represents security for the faithful performance and observance by Tenant of the terms, provisions and conditions of this Lease. It is agreed that in the event Tenant defaults in respect of any of the terms, provisions and conditions of this Lease, including, but not limited to, the payment of Annual Rent and additional rent, Landlord may use, apply or retain the whole or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security depositso deposited to the extent required for the payment of any rent and additional rent or any other sum as to which Tenant is in default or for any sum which landlord may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms, covenants and conditions of this Lease, including, but not limited to, any damages or deficiency in the reletting of the Premises, whether such damage occurred before or after summary proceedings or other re-entry by Landlord. The University In the event that Tenant shall furnish Licensee fully and faithfully comply with a separate receipt at all of the time terms, provisions, covenants and conditions of receiving this Lease, Landlord shall apply so much of the Security DepositDeposit that shall remain with Landlord, or any partial payment thereoftowards the Base Rent, operating expenses, and Additional Rent, plus applicable sales tax thereon, due for the last month of this Lease. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after At the termination of the License or upon Licensee's vacating Lease (including any extensions thereof), the premises completely together with all remaining balance of Licensee's goods and possessionsthe Security Deposit (if any), whichever shall last occurbut not any prepaid rents, return the security deposit or as tendered by Tenant, pursuant to this Paragraph, excluding any balance rent portion thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from returned to Tenant after the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable date fixed at the end of each year the Lease and after delivery of Licensee's occupancyentire possession of the Premises to Landlord. In the event of a sale of the Land and Building, of which the Premises form a part, Landlord shall have the right to transfer the security to the vendee, and Landlord shall thereupon be released by Tenant from all liability for the return of such security and Tenant agrees to look solely to the new Landlord for the return of said security. Tenant shall receive notice of any such sale and transfer of the Security Deposit. It is agreed that the provisions hereof shall apply to every transfer or assignment made of the security to a new Landlord. Tenant further covenants that it will not assign or encumber the moneys deposited herein as security and that neither Landlord nor its assigns shall be bound by any such assignment or encumbrance. Landlord shall not be required to keep the security in a segregated account and the security may be commingled with other funds of Landlord, and in no event shall Tenant be entitled to any interest on the security. The mortgagee holding a mortgage encumbering the Building shall not be responsible to Tenant for the security deposit in the event such mortgagee becomes the owner of the Building through foreclosure or by reason of a deed in lieu thereof. Tenant agrees not to look to any mortgagee or Purchaser at any foreclosure sale or Guarantee in a Deed given in lieu of foreclosure for the return of any Security Deposit given to Landlord unless Landlord has given such Deposit to any such entity, however, in such event, any amount of such security shall be credited to Tenant, pursuant to the Lease.

Security Deposit. Licensee Upon Landlord providing Tenant with a copy of the 4500 Permit (as defined in Section 14.30 hereof) and upon expiration of the 20 day appeal period applicable to the issuance of the 4500 Permit, Tenant shall pay «Monthly_Fee» deposit with Landlord a Letter of Credit in the amount and form hereafter described (an amount not to exceed one month's License Feethe "Letter of Credit") on or before «Start_Date» to be held and, as applicable, presented, drawn upon and the proceeds thereof retained and applied by Landlord as security for the faithful payment, performance and observance by Tenant of the terms, covenants, provisions, conditions and agreement of Tenant under and pursuant to this Lease. It is agreed and understood that in the event of the occurrence of a Default of Tenant, Landlord may present for payment and draw upon the Letter of Credit and Landlord may use, apply or retain the whole or any part of the amounts available to be drawn under the Letter of Credit to the extent required for the payment of any Basic Rent, Escalation Charges, additional rent or any other sum which Landlord may expend or be entitled to the payment of by reason of any Default of Tenant or any failure of tenant to pay, perform or observe any term, covenant, condition or provision of this Lease, including without limitation, any late charges, interest payments or any damages or deficiency in the re-letting of the Premises whether said damages or deficiency occurred before or after summary proceedings or other re-entry by Landlord. If Landlord shall present, draw upon and apply or retain all or any portion of the amounts evidenced by the University Letter of Credit, Tenant shall immediately replenish and reinstate the amount available to be drawn under the Letter of Credit or cause a substitute Letter of Credit in the form and amount required by this Lease to be re-issued so that at all times during the term hereofTerm of this Lease, or any extension or renewal, as a security deposit pursuant Landlord shall be entitled to draw upon the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the entire dollar amount of the security depositLetter of Credit in the amounts required hereunder notwithstanding any prior presentation and draw thereon. The University Letter of Credit must at all times be an "irrevocable clean" commercial Letter of Credit in the amount required by this Lease and payable through a New York City, New York Bank, acceptable to Landlord in Landlord's sole discretion. In addition, the Letter of Credit shall furnish Licensee with a separate receipt at be payable solely to the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination benefit of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods Landlord from time to time under this Lease and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from automatically renewable and, upon the security deposit for any damage which was listed in the statement direction of condition or in any separate list submitted by Licensee Landlord, transferable to and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest payable for the benefit of Licenseeany successor Landlord under the Lease. If the security deposit is held for one year or longer from the commencement The Letter of Licensee's occupancy, Licensee Credit shall be entitled to interest and remain presentable and payable for the time period beginning on the amount date of this Lease through and including the date which is the last to occur of (i) the date which is 60 days after the last day of the security deposit Term of this Lease or (ii) the date which is 60 days after the date of delivery of the entire Premises to Landlord in accordance with the terms and provisions of this Lease or (iii) 60 days after the last of Tenant's monetary obligations to Landlord under this Lease have been satisfied in full. Tenant shall bear all costs and expenses in connection with procuring the Letter of Credit and maintaining it in full force and effect for the time periods required hereunder. In the event of a sale or other transfer of the Building, Tenant shall, at its sole cost and expense, cause the rate Letter of two percent Credit, in the form required hereunder, to be issued to and for the benefit of such transferee or purchaser, as designated by Landlord. indirect (2%) per yearincluding any loss of a tenant or rental income), payable at sustained by reason of any such holding over. Otherwise, such holding over shall be on the end of each year of Licensee's occupancyterms and conditions set forth in this Lease as far as applicable.

Security Deposit. Licensee shall pay «Monthly_Fee» ▇▇▇▇▇▇ has delivered to Landlord the sum of $ (an amount not to exceed one (1) month's License Fee’s rent) as security for the performance by Tenant of the terms of the Lease. Such security will be deposited by Landlord in an interest bearing account at located at . If the rent is increased by reason of an order of the Commissioner, tenant shall deliver to the Landlord, on or before «Start_Date» the effective date of such increase, as additional security, a sum equal to be held by the University during monthly increase. It is agreed that if ▇▇▇▇▇▇ fails to obey any part of the term hereofLease, Landlord may apply or keep all or any extension or renewal, as a part of said security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor which shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and also include any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or earned on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interestsum, to the University's successor in interest extent necessary for the benefit payment of Licensee. If the security deposit is held for one year any rent or longer damage of Landlord resulting from the commencement breach of Licensee's occupancy, Licensee shall be entitled to interest on the Lease by ▇▇▇▇▇▇. Landlord may not retain any amount of the security deposit at for costs relating to ordinary wear and tear of occupancy, or due to any condition, defect, or damage noted in apartment prior to the rate tenant taking possession. Where Landlord and Tenant conduct an inspection of two percent (2%) per yearthe premises prior to tenant’s taking possession thereof, payable at the parties shall execute a written agreement before the tenant begins occupancy of the unit attesting to the condition of the property and specifically noting any existing defects or damages. Upon the Tenant's vacating of the premises, the Landlord may not retain any amount of the deposit or advance due to any condition, defect, or damage noted in such agreement. Such security, in addition to any interest accumulated thereof, minus any part kept by Landlord based upon any breach of Tenant of the Lease, and minus 1% of the security deposit to be keptas administration expenses, shall be returned by Landlord to Tenant, along with an itemized statement indicating the basis for the amount of the deposit retained, if any, after the end of each year the Lease and within 14 days of Licensee's occupancy.Tenant vacating the Apartment..

Security Deposit. Licensee Tenant will pay Landlord on the date this Lease is executed by Tenant the Security Deposit set forth in Item 8 of Article 1 as security for the performance of the terms hereof by Tenant. Tenant shall pay «Monthly_Fee» (not be entitled to interest thereon and Landlord may commingle such Security Deposit with any other funds of Landlord. It is expressly understood and agreed that the Security Deposit is not an amount advance payment of Rent or a measure of Landlord's damages in case of default by Tenant. If Tenant defaults with respect to any provisions of this Lease, Landlord may, but shall not be required to, from time to exceed one month's License Fee) on time, without prejudice to any other remedy, use, apply or before «Start_Date» to be held by retain all or any part of the University during Security Deposit for the term hereofpayment of any Rent or any other sum in default, or for the payment of any extension other amount which Landlord may spend or renewal, as a security deposit pursuant become obligated to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount spend by reason of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security DepositTenant's default, or to compensate Landlord for any partial payment thereof. The University acknowledges thatother loss or damage which Landlord may suffer by reason of Tenant's default, subject including, without limitation, costs and attorneys' fees incurred by Landlord to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition recover possession of the Premises. If Upon the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list occurrence of any damage existing in the Premises and return the statement event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the University. No amount shall be deducted from the security deposit for extent necessary to make good any damage which was listed in the statement arrears of condition rentals and any other damage, injury, expense or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or liability caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused Landlord by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereofsuch event of default, and any accrued interest, Tenant shall pay to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest Landlord on demand the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.so applied in order -------------------------------------------------------------------------------- COMMERCIAL LEASE AGREEMENT

Security Deposit. Licensee Upon Tenant's execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not ---------------- deliver to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewalLandlord, as a security deposit pursuant to Security Deposit for the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEperformance by Tenant of its obligations under this Lease, nor shall any damages be limited to the amount of specified in the security depositBasic Lease Information. The University shall furnish Licensee with a separate receipt at the time of receiving If Tenant is in default beyond applicable cure periods, Landlord may, but without obligation to do so, use the Security Deposit, or any partial payment portion thereof, to cure the default or to compensate Landlord for all damages sustained by Landlord resulting from Tenant's default, including, but not limited to the Enforcement Expenses. The University acknowledges that, subject to damages prescribed by law, it Tenant shall, within thirty immediately on demand, pay to Landlord a sum equal to the portion of the Security Deposit so applied or used so as to replenish the amount of the Security Deposit held to increase such deposit to the amount initially deposited with Landlord. At any time after Tenant has defaulted hereunder, Landlord may require an increase in the amount of the Security Deposit required hereunder, not to exceed the sum equal to six (306) days month's Base rent payable during the last year of the Lease Term, and Tenant shall, immediately on demand, pay to Landlord additional sums in the amount of such increase As soon as practicable after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessionsthis Lease, whichever Landlord shall last occur, return the security deposit Security Deposit to Tenant, less such amounts as are reasonably necessary, as determined solely but reasonably by Landlord, to remedy Tenant's default(s) hereunder or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to otherwise restore the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consentto a clean and safe condition, reasonable wear and tear excludedexcepted, but failure to clean included. In except as otherwise provided in the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the PremisesLease. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in cost to restore the Premises exceeds the amount of the Security Deposit, Tenant shall promptly deliver to Landlord any and return all of such excess sums as reasonably determined by Landlord shall not be required to keep the statement to the University. No amount shall be deducted Security Deposit separate from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agentother funds, and, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused otherwise required by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premiseslaw, the University Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount Security Deposit. In no event or circumstance shall Tenant have the right to any use of the security deposit at Security Deposit and, specifically, Tenant may not use the rate of two percent (2%) per yearSecurity Deposit as a credit or to otherwise offset any payments required hereunder, payable at the end of each year of Licensee's occupancyincluding, but not limited to, Rent or any portion thereof.

Security Deposit. Licensee Tenant will pay Landlord on the date this Lease is executed by Tenant the Security Deposit set forth in Item 9 of the Basic Lease Provisions as security for the performance of the terms hereof by Tenant. Tenant shall pay «Monthly_Fee» (not be entitled to interest thereon and Landlord may commingle such Security Deposit with any other funds of Landlord. The Security Deposit shall not be considered an amount advance payment of rental or a measure of Landlord’s damages in case of default by Tenant. If Tenant defaults with respect to any provision of this Lease, Landlord may, but shall not be required to, from time to exceed one month's License Fee) on time, without prejudice to any other remedy, use, apply or before «Start_Date» to be held by the University during the term hereof, retain all or any extension or renewal, as a security deposit pursuant to part of this Security Deposit for the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall payment of any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, Rent or any partial other sum in default or for the payment thereof. The University acknowledges thatof any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default, subject including, without limitation, costs and attorneys’ fees incurred by Landlord to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition recover possession of the Premises. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Licensee disagrees with Security Deposit shall be returned to Tenant within sixty (60) days after the University's statement of condition, Licensee must attach a separate list Expiration Date. Tenant agrees that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as the Security Deposit and that Landlord and its successors and assigns shall not be bound by any such actual or attempted assignment or encumbrance. Regardless of any damage existing assignment of this Lease by Tenant, Landlord may return the Security Deposit to the original Tenant, in the Premises and return absence of evidence satisfactory to Landlord of an assignment of the statement right to receive the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit Security Deposit or any part of the balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.

Security Deposit. Licensee (a) Tenant shall pay «Monthly_Fee» post with Landlord prior to the Commencement Date of this Sublease, and maintain throughout the term hereof, a security deposit in the amount equal to Eighty-Two Thousand Two Hundred Dollars (an amount not $82,200.00) (the "Security Deposit") to exceed one monthinsure the full and faithful performance by Tenant of all the terms, covenants and conditions of this Sublease upon Tenant's License Fee) on or before «Start_Date» part to be performed. No interest shall be paid on the Security Deposit and Landlord may co-mingle the Security Deposit with other security deposits held by the University Landlord. If, at any time during the term hereof, or the term as it may be extended, Tenant shall fail to perform any extension of its obligations under this Sublease, Landlord may use, apply or renewal, as a security deposit pursuant to retain the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall whole or any damages be limited to the amount part of the security depositSecurity Deposit for the payment of (i) any rent or other sums of money which Tenant may not have paid when due, (ii) any sum expended by Landlord on Tenant's behalf in accordance with the provisions of the Sublease, and/or (iii) any sum which Landlord may expend or be required to expend by reason of Tenant's default, including, without limitation, any damage or deficiency in or from the reletting of the Premises. The University shall furnish Licensee with a separate receipt at the time use, application or retention of receiving the Security Deposit, or any partial payment portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Sublease or by law (it being intended that Landlord shall not first be required to proceed against the Security Deposit) and shall not operate as either liquidated damages or as a limitation on any recovery to which Landlord may otherwise be entitled. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination If any portion of the License Security Deposit is used, applied or retained by Landlord for the purposes set forth above, Tenant agrees, upon Licensee's vacating written demand therefor made by Landlord, to deposit cash with the premises completely together Landlord in an amount sufficient to restore the Security Deposit to its original amount. If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Sublease, whichever shall last occur, return the security deposit Security Deposit or any balance thereof, shall be returned to Tenant without interest after the expiration of the term or upon any later date after which Tenant has vacated the Premises. In the absence of evidence satisfactory to Landlord of any permitted assignment of the right to receive the Security Deposit, Landlord shall return same to the original Tenant, regardless of one or more assignments of Tenant's interest in this Sublease. Upon the return of the Security Deposit, or the remaining balance thereof, to the original Tenant or any successor to the original Tenant, Landlord shall be completely relieved of liability with respect to the Security Deposit. (b) In lieu of a cash security deposit, Tenant may deliver to Landlord a clean, irrevocable, unconditional, transferable, evergreen Letter of Credit issued by and drawn upon any interest thereoncommercial bank which is a member of the Federal Reserve and the Federal Deposit Insurance Corporation acceptable to Landlord (hereinafter referred to as the "Issuing Bank") with offices for banking purposes in the City of New York and State of New Jersey, if duewhich Letter of Credit shall have a term of not less than one year, after deductingbe in form and content satisfactory to Landlord, be for the account of Landlord and be in the amount of $86,200.00. The Letter of Credit shall provide that: (1) Any unpaid License feesThe Issuing Bank shall pay to Landlord or its duly authorized representative an amount up to the face amount of the Letter of Credit upon presentation of only the Letter of Credit and a sight draft in the amount to be drawn; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case The Letter of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount Credit shall be deducted from deemed to be automatically renewed, without amendment, for consecutive periods of one year each during the security deposit for any damage which was listed in the statement Term of condition or in any separate list submitted by Licensee and approved by the University or the University's agentthis Sublease, unless the University subsequently repaired Issuing Bank sends written notice (hereinafter called the "Non-Renewal Notice") to Landlord by certified or caused registered mail, return receipt requested, not less than sixty (60) days next preceding the then expiration date of the Letter of Credit, that it elects not to have such Letter of Credit renewed; (3) Landlord, after receipt of the Non-Renewal Notice, shall have the right, exercisable by a sight draft, only, to receive the moneys represented by the Letter of Credit unless Tenant delivers to Landlord a replacement Letter of Credit in the form and content set forth above, prior to Landlord receiving said moneys (which moneys shall be repaired held by Landlord as a cash deposit pursuant to the terms of this Section 17 pending the replacement of such Letter of Credit); and (4) Upon an assignment of Landlord's leasehold interest, the Letter of Credit shall be transferable by Landlord as provided below. (c) In the event of an assignment of Landlord's leasehold interest, Landlord shall have the right to transfer the cash security or Letter of Credit, as the case may be, deposited hereunder to the vendee or lessee, and Landlord shall thereupon be released by Tenant from all liability for the return of such cash security or Letter of Credit. In such event, Tenant agrees to look solely to the new Landlord for the return of said damage and can prove cash security or Letter of Credit. It is agreed that the renewed damage was unrelated provisions hereof shall apply to every transfer or assignment made of said cash security or Letter of Credit to a new Landlord. Tenant shall execute such documents as may be necessary to accomplish such transfer or assignment of the prior damage Letter of Credit. (d) Tenant covenants that it will not assign or encumber, or attempt to assign or encumber, the monies or Letter of Credit deposited hereunder as security, and was caused by the Licensee that neither Landlord not its successors or assigns shall be bound by any person under the Licensee's control such assignment, encumbrance, attempted assignment, or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyattempted encumbrance.

Security Deposit. Licensee Simultaneously with the execution and delivery of this Lease, Tenant shall pay «Monthly_Fee» (an amount not deliver to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as Landlord a security deposit pursuant (the “Security Deposit”), which Security Deposit shall be in the Security Deposit Amount (as defined in Section 1.2) and shall consist either of cash or of a clean, irrevocable letter of credit satisfactory in form and content to Landlord and issued by an FDIC insured bank located in Boston reasonably satisfactory to Landlord in favor of the terms Landlord. During the Term hereof, and any extensions thereof, and for ninety (90) days after the expiration of the Term, or for so long thereafter as Tenant is in possession of the Premises or has unsatisfied obligations hereunder to Landlord, the Security Deposit shall be security for the full and timely performance of Tenant’s obligations under this Lease; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEwhich cash may be used or letter of credit drawn upon by Landlord and applied from time to time against outstanding obligations of Tenant hereunder without notice or demand. Tenant shall have no right to require Landlord to so apply the Security Deposit, nor shall Tenant be entitled to credit the same against rents or other sums payable hereunder; no interest shall accrue thereon. If the Security Deposit is in the form of a letter of credit, during the entire Term hereof, including any damages extension thereof, Tenant shall cause said letter of credit to be limited renewed, in identical form to that delivered herewith, no later than thirty (30) days prior to the date of expiration of same. Without limiting any other remedies of Landlord, in the event that Tenant fails to renew any letter of credit given hereunder at least thirty (30) days prior to the date of expiration thereof, then Landlord shall have the right to draw down the entire amount of said letter of credit and hold such sums as a cash deposit If and to the security deposit. The University shall furnish Licensee with a separate receipt at the time extent that Landlord makes such use of receiving the Security Deposit, or any partial payment part thereof. The University acknowledges that, subject the sum so applied by Landlord (from cash or from a drawing on the letter of credit) shall be restored to damages prescribed the Security Deposit, in cash, by lawTenant upon notice from Landlord, it shall, and failure to pay Landlord the amount to be so restored (within thirty (30the grace period applicable to Fixed Rent hereunder) days after the termination of the License or upon Licensee's vacating the premises completely together with shall be a default hereunder giving rise to all of Licensee's goods Landlord’s rights and possessions, whichever shall last occur, return remedies applicable to a default in the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedpayment of rent. In the case event of such damagea change of circumstance relating to the bank issuing the letter of credit, or Landlord otherwise reasonably believes the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature financial conditions of the issuing bank has been degraded, Landlord reserves the right to require Tenant to replace the letter of credit from time to time with a substitute similar letter of credit issued by another bank satisfactory to Landlord. No trust relationship is created herein between Landlord and Tenant with respect to said Security Deposit. Tenant acknowledges that the Security Deposit is not an advance payment of any kind or a measure of Landlord's damages and in the event of Tenant's default; Landlord shall not be obliged to keep the repairs necessary to correct it, and written evidence, such Security Deposit as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of fund or pay interest thereon but may commingle the present condition of the Premises. If the Licensee disagrees Security Deposit with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount its own funds provided that Landlord shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused able to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.separately

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within Within thirty (30) days after the termination of the License or upon Licensee's vacating date hereof, Lessee shall deposit with Lessor in cash the premises completely together with all sum of Licensee's goods Nine Hundred Thirty-Four Thousand, Two Hundred and possessionsno/100th Dollars ($934,200.00), whichever the receipt of which is hereby acknowledged, as and for a security deposit for the full and faithful performance by Lessee of each and every terms, covenant and condition of this Lease. Upon determination of the total rentable square footage of the Premises, the amount of security deposit shall last occurthereupon be adjusted (and the parties shall immediately make adjusting payments, return as appropriate), so that the security deposit or shall equal the Base Rent for eighteen (18) months, without regard to any balance thereofrights of abatement. At Lessee's election, said security deposit may be provided in the form of an unconditional, irrevocable letter of credit, drawable by Lessor merely upon presentation, issued by a federally insured banking institution reasonably acceptable to Lessor and any interest thereon, if due, after deducting having an expiration date (1at all times during the Lease term) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within not less than thirty (30) daysdays (i.e. so that it is therefore required hereby, with to be replaced or renewed from time to time, during the Lease term). In the event that an itemized list Event of damagesDefault exists, sworn to by Lessor may use, apply or retain the University whole or its agent under pains and penalties of perjury, itemizing in precise detail the nature any part of the security so deposited for the payment of any such rentals in default or for any other sum which Lessor may expend or be required to expend by reason of Lessee's default, including, but not limited to, any damages and of or deficiency in the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition reletting of the Premises, whether such damages or deficiency may accrue before or after reentry by Lessor. If Lessee shall not be entitled to any interest on the Licensee disagrees with the Universitysecurity deposit. It is expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Lessor's statement damages in case of condition, Licensee must attach a separate list Lessee's default. Upon application of any damage existing part of the deposit by Lessor as provided herein, Lessee shall pay to Lessor on demand the amount so applied in the Premises and return the statement order to the University. No amount shall be deducted from restore the security deposit for any damage to its original amount. Any application of the deposit by Lessor shall not be deemed to have cured Lessee's default by reason of which was listed in the statement application is made. In the event of condition or in any separate list submitted by Licensee and approved by a bona fide sale of the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on Complex of which the Premises with Licensee's consent. If are a part, Lessor shall have the University transfers the Premises, the University shall right to transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest its vendee for the benefit of LicenseeLessee and thereafter Lessor shall be released of all liability for the return of such deposit and Lessee agrees to look to said vendee for the return of its security deposit. If It is agreed that this provision shall apply to every transfer or assignment made of the security deposit to any new landlord. This security deposit shall not be assigned or encumbered by Lessee. It is held expressly understood that the reentry of the Premises by Lessor for one year or longer from any default on the commencement part of Licensee's occupancyLessee prior to the expiration of the term of this Lease shall not be deemed a termination of this Lease so as to entitle Lessee to recover the security deposit, Licensee and the security deposit shall be entitled to interest on retained and remain in the possession of Lessor until the end of the term of this Lease. Actions by Lessor against Lessee for breach of this Lease shall in no way be limited or restricted by the amount of the security deposit at the rate and resort to such deposit shall not waive any other rights or constitute and election of two percent (2%) per year, payable at the end of each year of Licensee's occupancyremedies which Lessor may have.

Security Deposit. Licensee Tenant shall pay «Monthly_Fee» deposit with Landlord upon the execution of this Lease by Landlord and Tenant, an irrevocable standby letter of credit (an the “Letter of Credit”) in the amount set forth in the Basic Lease Information as the “Security Deposit” under this Lease. If Tenant has not defaulted beyond any applicable cure period during the one (1) year period preceding the first day of the fifteenth (15th) month following the Lease Commencement Date, then commencing on the first day of the fifteenth (15th) month following the Lease Commencement Date, the Security Deposit shall be reduced to exceed one month's License Fee) on or before «Start_Date» to Five Hundred Thousand Dollars ($500,000). The Security Deposit shall be held by Landlord as security for the University during the term hereofperformance by Tenant of all its obligations under this Lease. If Tenant fails to pay any Rent due hereunder, or otherwise commits a default with respect to any extension provision of this Lease, Landlord may use, apply or renewalretain all or any portion of the Security Deposit for the payment of any such Rent or for the payment of any other amounts expended or incurred by Landlord by reason of Tenant’s default, as or to compensate Landlord for any loss or damage which Landlord may incur thereby (and in this regard Tenant hereby waives the provisions of California Civil Code Section 1950.7 and any similar or successor statute providing that Landlord may claim from a security deposit pursuant only those sums reasonably necessary to remedy defaults in the terms hereof; payment of Rent, to repair damage caused by Tenant, or to clean the Premises, it being understood agreed that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEELandlord may, nor in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant). Exercise by Landlord of its rights hereunder shall not constitute a waiver of, or relieve Tenant from any damages be limited to liability for, any default. If any portion of the Letter of Credit posted as the Security Deposit is drawn upon by Landlord for such purposes, Tenant shall, within ten (10) days after written demand therefore, deposit a replacement Letter of Credit with Landlord in the amount of the security depositoriginal Letter of Credit and within ten (10) days after Landlord’s receipt of such replacement Letter of Credit, Landlord shall return the previous Letter of Credit to Tenant to the extent the same has not been drawn upon. The University If Tenant performs all of Tenant’s obligations hereunder, the Letter of Credit shall furnish Licensee with a separate receipt be returned to Tenant (or, at Landlord’s option, to the time last assignee, if any, of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, Tenant’s interest under this Lease) within thirty (30) days after the later of (i) the date of expiration or earlier termination of this Lease, or (ii) vacation of the Premises by Tenant if the Premises has been left in the condition specified by this Lease. Upon termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit original Landlord’s (or any balance thereofsuccessor owner’s) interest in the Premises, and any interest thereon, if due, after deducting the original Landlord (1or such successor) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused shall be released from further liability with respect to the Premises Security Deposit upon the original Landlord’s (or such successor’s) delivery of the Letter of Credit to the successor landlord and compliance with California Civil Code Section 1950.7(d), or successor statute. A. The Letter of Credit deposited as a Security Deposit shall be issued by Licensee or any person under Licensee's control or on a money-center bank (a bank which accepts deposits, which maintains accounts, which has a local Bay Area office that will negotiate a letter of credit and whose deposits are insured by the Premises FDIC) whose financial strength shall be sufficient to meet liquidity demands with Licensee's consent, reasonable wear respect to issued letters of credit and tear excluded, but failure which is otherwise reasonably acceptable to clean includedLandlord. In The Letter of Credit shall be issued for a term of at least twelve (12) months and shall be in a form and with such content reasonably acceptable to Landlord. The Letter of Credit shall specify that the case issuer thereof shall notify the beneficiary of the Letter of Credit in writing at least sixty (60) days in advance of the expiration date of such damageLetter of Credit if the Letter of Credit shall not be renewed as of such expiration date. Tenant shall either replace the expiring Letter of Credit with another Letter of Credit in an amount equal to the original Letter of Credit or renew the expiring Letter of Credit, the University shall provide the Licensee, within in any event no later than thirty (30) daysdays prior to the expiration of the term of the Letter of Credit then in effect. If Tenant fails to deposit a replacement Letter of Credit or renew the expiring Letter of Credit, Landlord shall have the right immediately to draw upon the expiring Letter of Credit for the full amount thereof and hold the funds drawn as the Security Deposit. Any Letter of Credit deposited with Landlord during the final lease year of the Term must have an itemized list expiry date no earlier than the date which is thirty (30) days after the Lease Expiration Date. If, at any time during the Lease Term, Landlord notifies Tenant in writing that the bank which issued the Letter of damagesCredit has become financially unacceptable (e.g., sworn the bank is under investigation by governmental authorities, the bank no longer has the financial strength equivalent to the current financial strength of Comerica or has filed bankruptcy or reorganization proceedings), then Tenant shall have thirty (30) days to provide Landlord with a substitute Letter of Credit complying with all of the requirements hereof. If Tenant does not so provide Landlord with a substitute Letter of Credit within such time period, then Landlord shall have the right to draw upon the current Letter of Credit and hold the funds drawn as the Security Deposit. The premium or purchase price of, or any other bank fees (including transfer or assignment fees) associated with, such Letter of Credit shall be paid by the University Tenant. The Letter of Credit shall be transferable (and must permit multiple transfers), irrevocable and unconditional, so that Landlord, or its agent successor(s) in interest, may at any time draw on the Letter of Credit against sight drafts presented by Landlord, accompanied by Landlord’s statement, made under pains and penalties penalty of perjury, itemizing that said drawing is in precise detail accordance with the nature terms and conditions of this Lease; no other document or certification from Landlord shall be required to negotiate the Letter of Credit and the Landlord may draw on any portion of the damages then uncalled upon amount thereof without regard to and without the issuing bank inquiring as to the right or lack of right of the repairs necessary holder of said Letter of Credit to correct iteffect such draws or the existence or lack of existence of any defenses by Tenant with respect thereto. The Letter of Credit shall not be mortgaged, assigned or encumbered in any manner whatsoever by Tenant without the prior written consent of Landlord. The use, application or retention of the Letter of Credit, or any portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law, it being intended that Landlord shall not first be required to proceed against the Letter of Credit, and written evidencesuch use, such application or retention shall not operate as estimates, bills, invoices or receipts, indicating a limitation on any recovery to which Landlord may otherwise be entitled. B. Tenant acknowledges and agrees that the actual estimated costs thereof. The University shall submit to Licensee Letter of Credit constitutes a separate written statement and independent contract between Landlord and the issuing bank, that Tenant is not a third party beneficiary of such contract, and that Landlord’s claim under the Letter of Credit for the full amount due and owing thereunder shall not be, in any way, restricted, limited, altered or impaired by virtue of any provision of the present condition Bankruptcy Code, including, but not limited to, Section 502(b)(6) of the PremisesBankruptcy Code. C. The Letter of Credit shall be transferable to any of the following parties: (i) any secured or unsecured lender of Landlord, (ii) any assignee, successor, transferee or other purchaser of all or any portion of the Building, or any interest in the Building, (iii) any partner, shareholder, member or other direct or indirect beneficial owner in Landlord (to the extent of their interest in the Lease). If Further, in the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list event of any damage existing sale, assignment or transfer by the Landlord of its interest in the Premises or the Lease, Landlord shall have the right to assign or transfer the Letter of Credit to its grantee, assignee or transferee; and in the event of any sale, assignment or transfer, the landlord so assigning or transferring the Letter of Credit shall have no liability to Tenant for the return of the statement Letter of Credit, and Tenant shall look solely to such grantee, assignee or transferee for such return, so long as such grantee, assignee or transferee assumes in writing all of Landlord’s obligations with respect to the UniversityLetter of Credit. No amount The terms of the Letter of Credit shall permit multiple transfers of the Letter of Credit. Tenant shall use its best efforts to cooperate with Landlord and the bank to effect the transfer(s) of the Letter of Credit and Tenant shall be deducted from the security deposit responsible for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount all costs of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancybank associated therewith.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held Tenant has deposited with Landlord the Security Deposit as security for the full, faithful and punctual performance by the University during the term hereof, or any extension or renewal, as a security deposit pursuant to Tenant of all of the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEof this Lease, nor shall any damages be limited whether in cash or by delivery to Landlord of a clean, irrevocable letter of credit in the amount of the security depositSecurity Deposit. The University shall furnish Licensee with a separate receipt at In the time event Tenant defaults in the performance of receiving any of the terms of this Lease, including the payment of Rent, Landlord may use, apply or retain the whole or any part of the Security Deposit, Deposit to the extent required for the payment of any Rent or for any partial payment thereof. The University acknowledges that, subject sum which Landlord may expend or may be required to damages prescribed expend by law, it shall, within thirty (30) days after the termination reason of Tenant's default in respect of any of the License terms of this Lease, including any damages or upon Licensee's vacating deficiency in the premises completely together with all re-letting of Licensee's goods and possessionsthe Premises, whichever shall last occur, return the security deposit whether accruing before or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises summary proceedings or other re-entry by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case of every such damageuse, application or retention, Tenant shall, on demand, pay to Landlord the University sum so used, applied or retained which shall provide be added to the Licensee, within thirty (30) days, with an itemized list Security Deposit so that the same shall be replenished to its former amount and Tenant's failure to do so shall be a material breach of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premisesthis Lease. If the Licensee disagrees monthly Rent shall, from time to time, increase during the Term, Tenant shall then deposit with Landlord an additional security deposit so that the University's statement amount of condition, Licensee must attach a separate list of any damage existing in such Security Deposit held by Landlord shall at all times bear the Premises and return same proportion to current Rent as the statement original security deposit bears to the Universityoriginal monthly Rent set forth in this Lease. No amount Landlord shall not be deducted required to keep such deposit separate from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee its general accounts and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount Security Deposit. The Security Deposit shall not be deemed a limitation on Landlord's damages or a payment of liquidated damages or a payment of the security deposit at monthly Rent due for the rate last month of two percent (2%) per yearthe Term of this Lease. If Tenant shall fully and punctually comply with all of the terms of this Lease, payable at the end Security Deposit, or so much of each year it as has not been applied by Landlord, shall be returned to Tenant, without interest or other increment for its use, after the termination of Licensee's occupancy.this Lease and after delivery of exclusive possession of the Premises to Landlord. In the event of a sale or lease of the Building, Landlord shall have the right to transfer the Security Deposit to the vendee or lessee and Landlord shall immediately be released by Tenant from all liability for the return of such Security Deposit; and Tenant agrees to look solely to the new owner or landlord for the return of said Security Deposit; and it is agreed that the provisions hereof shall

Security Deposit. Licensee Section 30.1 Tenant has deposited the Security Deposit with Landlord as security for the full and faithful performance of every provision of this Lease to be performed by Tenant. If an Event of Default shall pay «Monthly_Fee» have occurred with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of Fixed Rent and Additional Rent, Landlord may use, apply or retain all or any part of this Security Deposit for the payment of any Fixed or Additional Rent or any other sum in default or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of such Event of Default, or to compensate Landlord for any other loss, cost or damage which Landlord may suffer by reason of such Event of Default Landlord shall give Tenant notice contemporaneously with such use or application of any portion of the Security Deposit Tenant shall, within five (5) days after the giving of such notice, deposit with Landlord cash in an amount not sufficient to exceed one month's License Fee) on or before «Start_Date» restore the Security Deposit to be held by the University during the term hereof, or any extension or renewal, as a security deposit amount then required pursuant to the terms hereof; it being understood of this Article 30 (Tenant’s obligation to make such payment shall be deemed a requirement that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEETenant pay an item of Additional Rent) and Tenant’s failure to do so shall be a breach of this Lease. Landlord shall not, nor shall any damages be limited unless otherwise required by Legal Requirements, pay interest to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving Tenant on the Security Deposit, and if Landlord is required to maintain the Security Deposit in an interest bearing account, Landlord will retain the maximum amount permitted under Legal Requirements as a bookkeeping and administrative charge. Tenant shall not assign or encumber any partial payment thereof. The University acknowledges thatpart of the Security Deposit, subject to damages prescribed and no assignment or encumbrance by lawTenant of all of any part of the Security Deposit shall be binding upon Landlord, it shallwhether made prior to, within thirty (30) days during, or after the termination Term. Landlord shall not be required to exhaust its remedies against Tenant or against the Security Deposit before having recourse to any other form of security held by Landlord and recourse by Landlord to any Security Deposit shall not affect any remedies of Landlord which are provided in this Lease or which are available to Landlord In law or in equity. If Tenant shall fully and faithfully perform every covenant and provision of this Lease to be performed and observed by Tenant, the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit Security Deposit or any balance thereof, and any interest thereon, if due, thereof shall be returned to Tenant reasonably promptly after deducting the expiration or sooner termination (1other than a termination pursuant to Article 17) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages Term and of the repairs necessary Tenant’s surrender to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition Landlord of the Premises. If In the Licensee disagrees with event the University's statement Building is sold, Landlord shall transfer the Security Deposit to the new owner and Landlord shall thereupon be released by Tenant from all liability for the return of condition, Licensee must attach said Security Deposit; and Tenant agrees to look to the new owner solely for the return of the Security Deposit. A lease of the entire Building shall be deemed a separate list transfer within the meaning of the foregoing sentence. Landlord shall use reasonable efforts to notify or cause Tenant to be notified in the event of any damage existing transfer of the Building. Section 30.2 Landlord agrees to reduce the Security Deposit as set forth below. Landlord shall have no obligation to reduce and Tenant shall have no right to request a reduction in the Premises and return Security Deposit unless all of the statement following conditions have been satisfied on the date of the scheduled reduction to the University. Security Deposit: (a) No Event of Default shall have occurred and be continuing under this Lease; and (b) there shall not have occurred any material adverse change in the financial condition of Tenant from the condition described in the financial statements submitted by Tenant to Landlord in connection with this Lease. Section 30.3 Subject to the terms in Section 30.2, the Security Deposit shall be reduced from the original Two Hundred Thousand Dollars ($200,000.00), as follows: (a) On July 1, 2002, the Security Deposit shall be reduced by Twenty Five Thousand Dollars ($25,000.00) and such amount shall be deducted from applied to Fixed Rent; (b) On August 1, 2002, the security deposit for any damage which was listed in Security Deposit shall be reduced by Twelve Thousand Five Hundred Dollars ($12,500.00) and such amount shall be applied to Fixed Rent; (c) On September 1, 2002, the statement of condition or in any separate list submitted Security Deposit shall be reduced by Licensee Twelve Thousand Five Hundred Dollars ($12,500.00) and approved such amount shall be applied to Fixed Rent; (d) On October 1, 2002, the Security Deposit shall be reduced by Twelve Thousand Five Hundred Dollars ($12,500.00) and such amount shall be applied to Fixed Rent; (e) On November 1, 2002, the University or Security Deposit shall be reduced by Twelve Thousand Five Hundred Dollars ($12,500.00) and such amount shall be applied to Fixed Rent; (f) On December 1, 2002, the University's agentSecurity Deposit shall be reduced by Twelve Thousand Five Hundred Dollars ($12,500.00) and such amount shall be applied to Fixed Rent; (g) On January 1, unless 2003, the University subsequently repaired or caused Security Deposit shall be reduced by Twelve Thousand Five Hundred Dollars ($12,500.00) and such amount shall be applied to Fixed Rent; (h) On February 1, 2003, the Security Deposit shall be repaired said damage reduced by Twelve Thousand Five Hundred Dollars ($12,500.00) and can prove that such amount shall be applied to Fixed Rent; and (i) On March 1, 2003, the renewed damage was unrelated Security Deposit shall be reduced by Twelve Thousand Five Hundred Dollars ($12,500.00) and such amount shall be applied to Fixed Rent. Notwithstanding anything herein to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premisescontrary, the University Security Deposit shall transfer not be reduced below Seventy Five Thousand Dollars ($75,000.00) through the security deposit or any balance thereof, Term and any accrued interest, to the University's successor in interest for the benefit all renewals of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis Lease.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not Tenant herewith deposits with Landlord the Security Deposit as security for the prompt, full, and faithful performance by Tenant of every term, covenant and condition of this Lease. A. If Tenant fails to exceed one monthperform any of its obligations hereunder, Landlord may use, apply or retain the whole or any part of the Security Deposit as damages for Tenant's License Fee) on or before «Start_Date» to be held by the University during the term hereofdefault under Article 20, or for the payment of (i) any extension Rent or renewalother sums of money which Tenant may not have paid when due, as a security deposit pursuant (ii) any sum expended by Landlord on Tenant's behalf in accordance with the provisions of this Lease, or (iii) any sum which Landlord may expend or be required to expend by reason of Tenant's default, including, without limitation, any damage or deficiency in or from the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount reletting of the security depositPremises as provided in Article 20. The University shall furnish Licensee with a separate receipt at the time use, application or retention of receiving the Security Deposit, or any partial payment portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law (it being intended that Landlord shall not first be required to proceed against or use the Security Deposit) and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. The University acknowledges thatIf any portion of the Security Deposit is used, subject to damages prescribed applied or retained by lawLandlord for the purposes set forth herein, it shallTenant agrees, within thirty ten (3010) days after the termination of written demand therefor is made by Landlord, to deposit cash with Landlord in an amount sufficient to restore the License Security Deposit to its amount prior to such use or upon Licensee's vacating the premises completely together application. B. If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Lease, whichever shall last occurthe Security Deposit, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary shall be returned to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) daysTenant, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two four percent (24%) per yearannum, payable at after the end last to occur of each year the expiration of Licenseethe Term or upon any later date after which Tenant has properly vacated the Premises. In the absence of evidence satisfactory to Landlord of any permitted assignment of the right to receive the Security Deposit, or of the remaining balance thereof, Landlord may return the same to the original Tenant, regardless of one or more assignments of Tenant's occupancyinterest in the Lease or the Security Deposit. In such event, upon the return of the Security Deposit or the remaining balance thereof to the original Tenant, Landlord shall be completely relieved of liability under this Article 5 or otherwise with respect to the Security Deposit. C. Tenant acknowledges that Landlord has the right to transfer or mortgage its interest in the Building and in this Lease, and Tenant agrees that in the event of any such transfer or mortgage, Landlord shall have the right to transfer or assign the Security Deposit to the transferee or mortgagee. Upon written acknowledgement of transferee's or mortgagee's receipt of such Security Deposit, Landlord shall thereby be released by Tenant from all liability or obligation for the return of such Security Deposit and Tenant shall look solely to such transferee or mortgagee for the return of such Security Deposit. D. The Security Deposit shall not be mortgaged, assigned, or encumbered in any manner whatsoever by Tenant without the prior written consent of Landlord.

Security Deposit. Licensee Upon Tenant's execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not deliver to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewalLandlord, as a security deposit pursuant to Security Deposit for the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEperformance by Tenant of its obligations under this Lease, nor shall any damages be limited to the amount of specified in the security depositBasic Lease Information. The University shall furnish Licensee with a separate receipt at the time of receiving If Tenant is in default, Landlord may, but without obligation to do so, use the Security Deposit, or any partial payment portion thereof, to cure the default or to compensate Landlord for all damages sustained by Landlord resulting from Tenant's default, including, but not limited to the Enforcement Expenses. The University acknowledges that, subject to damages prescribed by law, it Tenant shall, within thirty immediately on demand, pay to Landlord a sum equal to the portion of the Security Deposit so applied or used so as to replenish the amount of the Security Deposit held to increase such deposit to the amount initially deposited with Landlord. At any time after Tenant has defaulted hereunder, Landlord may require an increase in the amount of the Security Deposit required hereunder (30in an amount not to exceed twelve (12) days months' Rent) for the then balance of the Lease Term and Tenant shall, immediately on demand, pay to Landlord additional sums in the amount of such increase. As soon as practicable after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessionsthis Lease, whichever Landlord shall last occur, return the security deposit Security Deposit to Tenant, less such amounts as are reasonably necessary, as determined solely by Landlord, to remedy Tenant's default(s) hereunder or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to otherwise restore the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consentto a clean and safe condition, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premisesexcepted. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in cost to restore the Premises exceeds the amount of the Security Deposit, Tenant shall promptly deliver to Landlord any and return all of such excess sums as reasonably determined by Landlord. Landlord shall not be required to keep the statement to the University. No amount shall be deducted Security Deposit separate from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agentother funds, and, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused otherwise required by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premiseslaw, the University Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount Security Deposit. In no event or circumstance shall Tenant have the right to any use of the security deposit at Security Deposit and, specifically, Tenant may not use the rate of two percent (2%) per yearSecurity Deposit as a credit or to otherwise offset any payments required hereunder, payable at the end of each year of Licensee's occupancyincluding, but not limited to, Rent or any portion thereof.

Security Deposit. Licensee Concurrent with Subtenant's execution of this Sublease, Subtenant shall pay «Monthly_Fee» deposit with Sublandlord a cash security deposit (an the "Security Deposit") in the amount not of Four Hundred Thirty Thousand Dollars ($430,000.00) ("Initial Security Deposit") as security for the faithful performance by Subtenant of all of its obligations under this Sublease. The parties acknowledge and agree that Three Hundred Thousand Dollars ($300,000.00) of the Initial Security Deposit is being held to exceed one monthsecure the Subtenant's License Fee) on restoration obligations under this Sublease and that certain Standard Industrial/Commercial Single-Tenant Lease - Net entered into by and between Landlord and Subtenant to commence concurrently with the Termination Date ("New Lease"). On or before «Start_Date» July 1, 2004, Subtenant shall deposit with Landlord an additional cash security deposit of Two Hundred Thousand Dollars ($200,000.00) ("Second Security Deposit") a security for Subtenant's obligations under the New Lease and Subtenant's failure to so timely deposit the Second Security Deposit amount with Landlord shall be deemed to be a material default under this Sublease. On or prior to the Termination Date, Sublandlord agrees to transfer, assign and convey all unapplied portions of the entire Security Deposit to Landlord to be held by the University during the term hereof, or any extension or renewal, as a security deposit pursuant under the New Lease and Subtenant hereby authorizes and approves of same. If Subtenant defaults with respect to any provisions of this Sublease, including, but not limited to, the provisions relating to the terms hereof; it being understood payment of any rent, Sublandlord may, but shall not be required to, apply all or any part of the Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEESublandlord may spend or become obligated to spend by reason of Subtenant's default, nor shall or to compensate Sublandlord for any damages be limited other loss or damage that Sublandlord may suffer by reason of Subtenant's default. If any portion of the Security Deposit is so used or applied, Subtenant shall, within ten (10) business days after written demand therefor, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the then current amount required under this Section 5, and Subtenant's failure to do so shall constitute a default under this Sublease. Any unapplied balance of the Security Deposit as of the expiration or earlier termination of this Sublease shall be held and/or applied by Landlord as a security depositdeposit under the New Lease. The University Subtenant understands and agrees that the Security Deposit may be commingled with other property of Landlord and/or Sublandlord, as applicable, and Subtenant shall furnish Licensee with a separate receipt at the time of receiving not be entitled to any interest on the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by Subtenant hereby waives the provisions of Section 1950.7 of the California Civil Code and all other provisions of law, it shallnow or hereafter in force, within thirty (30) days after which provide that Sublandlord may claim from the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount Security Deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair any damage caused to the Premises by Licensee Subtenant or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such Premises, it being agreed that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord from any other loss or damage, the University shall provide the Licenseeforeseeable or unforeseeable, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee act or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit omission of Subtenant or any balance thereofofficer, and any accrued interestdirector, to the University's successor in interest for the benefit employee, agent or invitee of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySubtenant.

Security Deposit. Licensee shall pay «Monthly_Fee» 27.1 Tenant has deposited with Landlord the sum of Forty-Nine Thousand Twenty-Five and No/100 Dollars (an amount not $49,025.00), which is estimated to exceed one be equal to the first month's License Fee) on or before «Start_Date» Base Rent, as security for the performance by Tenant of all of the terms, covenants, and conditions required to be held performed by it hereunder and which sum shall be adjusted accordingly upon final determination of the University rentable square feet of the Premises as set forth in Exhibit D hereof Such sum --------- shall be returned to Tenant after a reasonable period after the expiration of the Lease Term and delivery of possession of the Premises to Landlord if, at such time, Tenant has fully performed all such terms, covenants and conditions. Promptly upon receipt of the security deposit, Landlord shall deposit such security deposit into an interest bearing account and unless Tenant is in default under the Lease, following the expiration of any applicable notice and cure periods, Tenant shall have the right to withdraw any accrued interest thereon annually, upon thirty (30) days prior written notice to Landlord. Upon an uncured event of default as set forth in Article 24, Landlord may, in addition to any other right or remedy available to Landlord hereunder, use, apply, or retain all or any part of this security deposit for the payment of any unpaid rent or for any other amount which Landlord may be required to expend by reason of the default of Tenant, including any damages or deficiency in the reletting of the Premises or any attorney's fees associated therewith, regardless of the whether the accrual of such damages or deficiency occurs before or after an eviction. If a portion of the security deposit is used or applied by Landlord during the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it Tenant shall, within thirty upon five (305) business days after the termination of the License or upon Licensee's vacating the premises completely together written demand, deposit with all of Licensee's goods and possessions, whichever shall last occur, return Landlord an amount sufficient to restore the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyoriginal amount.

Security Deposit. Licensee shall pay «Monthly_Fee» (an Tenant has deposited with Landlord the amount not to exceed one month's License Fee) on or before «Start_Date» set forth in Article 1 as the "Security Deposit" as security for the performance by Tenant of the terms of this Lease to be held performed by Tenant, and not as prepayment of rent. On the University during date twenty four months after the term hereofLease Commencement Date, or any extension or renewalprovided no Event of Default shall have occurred, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor Landlord shall any damages be limited to reduce the amount of the security depositSecurity Deposit so that such amount equals one month of the Base Monthly Rent then payable. The University Landlord may apply such portion or portions of the Security Deposit as are reasonably necessary for the following purposes: (i) to remedy any default by Tenant in the payment of Base Monthly Rent or Additional Rent or a late charge or interest on defaulted rent, or any other monetary payment obligation of Tenant under this Lease; (ii) to repair damage to the Leased Premises, the Building or the Outside Areas caused or permitted to occur by Tenant; (iii) to clean and restore and repair the Leased Premises, the Building or the Outside Areas following their surrender to Landlord if not surrendered in the condition required pursuant to the provisions of Article 2, and (iv) to remedy any other default of Tenant to the extent permitted by Law including, without limitation, paying in full on Tenant's behalf any sums claims by materialmen or contractors of Tenant to be owing to them by Tenant for work done or improvements made at Tenant's request to the Leased Premises. In this regard, Tenant hereby waives any restriction on the uses to which the Security Deposit may be applied as contained in Section 1950.7(c) of the California Civil Code and/or any successor statute. In the event the Security Deposit or any portion thereof is so used, Tenant shall furnish Licensee with pay to Landlord, promptly upon demand, an amount in cash sufficient to restore the Security Deposit to the full original sum. If Tenant fails to promptly restore the Security Deposit and if Tenant shall have paid to Landlord any sums as "Last Month's Prepaid Rent," Landlord may, in addition to any other remedy Landlord may have under this Lease, reduce the amount of Tenant's Last Month's Prepaid Rent by transferring all or portions of such Last Month's Prepaid Rent to Tenant's Security Deposit until such Security Deposit is restored to the amount set forth in Article 1. Landlord shall not be deemed a separate receipt at the time trustee of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject Landlord may use the Security Deposit in Landlord's ordinary business and shall not be required to damages prescribed by law, segregate it shall, within thirty (30) days after the termination of the License or upon Licenseefrom Landlord's vacating the premises completely together with all of Licensee's goods and possessions, whichever general accounts. Tenant shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to any interest on the amount Security Deposit. If Landlord transfers the Building or the Property during the Lease Term, Landlord may pay the Security Deposit to any subsequent owner in conformity with the provisions of Section 1950.7 of the security deposit at California Civil Code and/or any successor statute, in which event the rate transferring landlord shall be released from all liability for the return of two percent the Security Deposit. Tenant specifically grants to Landlord (2%and Tenant hereby waives the provisions of California Civil Code 1950.7 to the contrary) per yeara period of ninety days following a surrender of the Leased Premises by Tenant to Landlord within which to inspect the Leased Premises, payable at make required restorations and repairs, receive and verify workmen's bill▇▇▇▇ ▇▇▇refor, and prepare a final accounting with respect to the end of each year of Licensee's occupancySecurity Deposit. In no event shall the Security Deposit or any portion thereof, be considered prepaid rent.

Security Deposit. Licensee (a) Upon execution of this Lease, Tenant shall pay «Monthly_Fee» Landlord a Security Deposit equal to five thousand dollars ($5,000.00) in cash. (b) As consideration for Landlord entering into this Lease Agreement the Tenant hereby expressly waives and relinquishes any and all right Tenant may have to earn interest on the cash Security Deposit delivered to Landlord. The Landlord shall be free from any restrictions of any kind whatsoever on the use of the cash Security Deposit and shall not be required to hold the cash Security Deposit in a special account (or in any account) and may utilize the cash Security Deposit as its own funds. (c) Tenant hereby deposits with Landlord the Security Deposit, as security for the prompt, full, and faithful performance by Tenant of each and every provision of this Lease and of all obligations of Tenant hereunder. If an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereofEvent of Default occurs, Landlord may use, apply, or retain the whole or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security depositSecurity Deposit for the payment of (i) any Basic Rent or Additional Charges which Tenant may not have paid or which may become due after the occurrence of such Event or Default, (ii) any sum expended by Landlord on Tenant's behalf in accordance with the provisions of this Lease (including the reimbursement of the Tenant Improvement Allowance provided by Landlord), or (iii) any sum which Landlord may expend or be required to expend by reason of Tenant's default, including damages or deficiency in the releasing of the Leased Premises as provided in Section 16. The University shall furnish Licensee with a separate receipt at the time use, application, or retention of receiving the Security Deposit, or any partial payment portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. The University acknowledges thatIf any portion of the Security Deposit is used, subject to damages prescribed applied or retained by lawLandlord for the purpose set forth above, it shallTenant agrees, within thirty ten (3010) days after a written demand therefore is made by Landlord, to deposit cash with the termination of Landlord in an amount sufficient to restore the License or upon Licensee's vacating the premises completely together Security Deposit to its original amount. (d) If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Lease, whichever shall last occurthe Security Deposit, return the security deposit or any balance thereof, and any interest thereonshall be returned to Tenant within thirty (30)days after the expiration of the Term, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedwithout interest. In the case absence of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list evidence satisfactory to Landlord of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature any permitted assignment of the damages and of right to receive the repairs necessary to correct itSecurity Deposit, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any remaining balance thereof, and any accrued interest, Landlord may return the same to the Universityoriginal Tenant, regardless of one or more assignments of Tenant's successor interest in this Lease or the Security Deposit. In such event, upon the return of the Security Deposit (or balance thereof) to the original Tenant, Landlord shall be completely relieved of liability under this Section. (e) In the event of a transfer of Landlord's interest in the Leased Premises, Landlord shall have the right to transfer the Security Deposit to the transferee thereof subject to sub-paragraph (d) above. In such event, upon the delivery by Landlord to Tenant of such transferee's written acknowledgement of its receipt of such Security Deposit, Landlord shall be deemed to have been released by Tenant from all liability or obligation for the benefit return of Licensee. If such Security Deposit, and Tenant agrees to look solely to such transferee for the security deposit is held for one year or longer from return of the commencement of Licensee's occupancy, Licensee Security Deposit and the transferee shall be entitled bound by all provisions of this Lease relating to interest on the amount return of the security deposit at Security Deposit. (f) The Security Deposit shall not be mortgaged, assigned, or encumbered in any manner whatsoever by Tenant without the rate prior written consent of two percent (2%) per yearLandlord, payable at the end of each year of Licensee's occupancywhich may be withheld by Landlord in its sole discretion.

Security Deposit. Licensee Landlord currently holds $107,000 as security deposit under the Prior Lease, which shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» continue to be held by the University during the term hereof, or any extension or renewal, as a security deposit Landlord pursuant to the terms hereof; it being understood of this Section 6. Tenant shall concurrently with the execution of this Lease deliver to Landlord the additional sum of $118,000 to be held as additional security deposit for a total deposit of $225,000 (the “Security Deposit) for Tenant’s prompt payment and performance of all of Tenant’s obligations hereunder (and not as prepaid rent). Landlord shall not be required to keep the Security Deposit separate from Landlord's other accounts and no trust relationship shall be created with respect to the Security Deposit. In no event shall the Security Deposit be in lieu of or excuse Tenant from paying any portion of the Monthly Rent or any other Payment due and payable by Tenant hereunder at any time during the Term of this Lease. The taking of the Security Deposit by Landlord shall in no way be a bar or defense to any action in unlawful detainer for the recovery of possession of the Premises or any other right or remedy that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEELandlord may at any time exercise upon Tenant's Default or breach of this Lease. No interest shall be payable by Landlord on the Security Deposit. Without waiving any of Landlord's rights or remedies hereunder, nor at law or in equity, Landlord may, at Landlord's option, apply all or any part of the Security Deposit to any unpaid Monthly Rent or other Payment due and payable by Tenant from time to time under this Lease (including but not limited to, late charges), or to cure any other Default or breach of Tenant hereunder (including, but not limited to, the cost of maintenance and repair of the Premises). Upon the expiration of the Term of this Lease and Tenant's prompt surrender of possession of the Premises in accordance with the terms of this Lease, and provided that Tenant is not then in default hereunder (and/or no event has occurred which, with the giving of notice or the passage of time, could give rise to a default hereunder), Landlord shall return any damages portion of the Security Deposit to Tenant that has not been so applied by Landlord. Should all or any portion of the Security Deposit be limited so applied by Landlord at any time from time to time during the Term of this Lease, Tenant shall, upon the written request of Landlord promptly remit to Landlord an amount sufficient to restore the Security Deposit to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security DepositDeposit immediately prior to such application, or any partial payment thereof. The University acknowledges that, subject and Tenant's failure to damages prescribed by law, it shall, do so within thirty five (305) days after the termination receipt of the License or upon LicenseeLandlord's vacating the premises completely together with all written request therefor shall constitute a material default of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person Tenant under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis Lease.

Security Deposit. Licensee shall pay «Monthly_Fee» Tenant hereby deposits with Landlord the sum of Fifteen Thousand six hundred Dollars (an amount $15,600.00) (hereinafter referred to as “Collateral”), as security for the prompt, full and faithful performance by Tenant of each and every provision of this Lease and of all obligations of Tenant hereunder. A. If Tenant fails to perform any of its obligations hereunder, Landlord may use, apply or retain the whole or any part of the Collateral for the payment of (i) any Rent or other sums of money which Tenant may not have paid when due, (ii) any sum expended by Landlord on Tenant’s behalf in accordance with the provisions of this Lease, and/or (iii) any sum which Landlord may expend or be required to exceed one month's License Fee) on expend by reason of Tenant’s default, including, without limitation, any damage or before «Start_Date» to be held by deficiency in or from the University during reletting of the term hereofPremises as provided in Section 21. The use, application or retention of the Collateral, or any extension portion thereof, by Landlord shall not prevent Landlord from exercising any other right or renewal, remedy provided by this Lease or by law (it being intended that Landlord shall not first be required to proceed against the Collateral) and shall not operate as a security deposit pursuant limitation on any recovery to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall which Landlord may otherwise be entitled. If any damages be limited to the amount portion of the security deposit. The University shall furnish Licensee with a separate receipt at Collateral is used, applied or retained by Landlord for the time of receiving the Security Depositpurposes set forth above, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shallTenant agrees, within thirty (30) days after the termination of written demand therefore is made by Landlord, to deposit cash with the License or upon Licensee's vacating Landlord in an amount sufficient to restore the premises completely together Collateral to its original amount. B. If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Lease, whichever shall last occurthe Collateral, return the security deposit or any balance thereof, and shall be returned to Tenant without interest within ten days after the expiration of the Term or upon any interest thereon, if due, later date after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to which Tenant has vacated the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedPremises. In the case absence of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list evidence satisfactory to Landlord of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature any permitted assignment of the damages and right to receive the Collateral, or of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any remaining balance thereof, and any accrued interest, Landlord may return the same to the University's successor original Tenant, regardless of one or more assignments of Tenant’s interest in this Lease or the Collateral. In such event, upon the return of the Collateral, or the remaining balance thereof to the original Tenant, Landlord shall be completely relieved of liability under this Section or otherwise with respect to the Collateral. C. Tenant acknowledges that Landlord has the right to transfer or mortgage its interest in the Land and the Building and in this Lease and Tenant agrees that in the event of any such transfer or mortgage, Landlord shall have the right to transfer or assign the Collateral to the transferee or mortgagee. Upon such transfer or assignment and the transferee’s assumption of Landlord’s obligations hereunder with respect to the Collateral, Landlord shall thereby be released by Tenant from all liability or obligation for the benefit return of Licensee. If such Collateral and Tenant shall look solely to such transferee or mortgagee for the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount return of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyCollateral.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held Tenant has deposited with Landlord the Security Deposit as security for the full, faithful and punctual performance by the University during the term hereof, or any extension or renewal, as a security deposit pursuant to Tenant of all of the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEof this Lease, nor shall any damages be limited whether in cash or by delivery to Landlord of a clean, irrevocable letter of credit in the amount of the security depositSecurity Deposit. The University shall furnish Licensee with a separate receipt at In the time event Tenant defaults in the performance of receiving any of the terms of this Lease, including the payment of Rent, Landlord may use, apply or retain the whole or any part of the Security Deposit, Deposit to the extent required for the payment of any Rent or for any partial payment thereof. The University acknowledges that, subject sum which Landlord may expend or may be required to damages prescribed expend by law, it shall, within thirty (30) days after the termination reason of Tenant's default in respect of any of the License terms of this Lease, including any damages or upon Licensee's vacating deficiency in the premises completely together with all re-letting of Licensee's goods and possessionsthe Premises, whichever shall last occur, return the security deposit whether accruing before or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises summary proceedings or other re-entry by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case of every such damageuse, application or retention, Tenant shall, on demand, pay to Landlord the University sum so used, applied or retained which shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement be added to the University. No amount Security Deposit so that the same shall be deducted replenished to its former amount and Tenant's failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep such deposit separate from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee its general accounts and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount Security Deposit. The Security Deposit shall not be deemed a limitation on Landlord's damages or a payment of liquidated damages or a payment of the security deposit at monthly Rent due for the rate last month of two percent (2%) per yearthe Term of this Lease. If Tenant shall fully and punctually comply with all of the terms of this Lease, payable at the end Security Deposit, or so much of each year it as has not been applied by Landlord, shall be returned to Tenant, without interest or other increment for its use, after the termination of Licenseethis Lease and after delivery of exclusive possession of the Premises to Landlord. In the event of a sale or lease of the Building, Landlord shall have the right to transfer the Security Deposit to the vendee or lessee and Landlord shall immediately be released by Tenant from all liability for the return of such Security Deposit; and Tenant agrees to look solely to the new owner or landlord for the return of said Security Deposit; and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the Security Deposit to a new owner or landlord. Tenant shall not assign or encumber or attempt to assign or encumber the monies deposited herein as the Security Deposit and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or encumbrance. This Lease does not create a trust relationship between Landlord and Tenant with respect to such Security Deposit, and Landlord shall be entitled to treat such Security Deposit as Landlord's occupancyown property, subject only to Tenant's right to receive repayment of it as and to the extent provided in this Section.

Security Deposit. Licensee 11.1 Simultaneously with Tenant’s execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by deposit with Landlord the University during Security Deposit Amount in the term hereof, or any extension or renewalform of a letter of credit as more fully provided in Section 11.3 below, as a security deposit for the performance by Tenant of all of Tenant’s obligations, covenants, conditions and agreements under this Lease. In the event Landlord draws on the letter of credit and holds cash pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEprovisions of this Article, nor Landlord shall any damages not be limited required to the amount of maintain such security deposit in a separate account. Except as may be required by law, Tenant shall not be entitled to interest on the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within Within approximately thirty (30) days after the later of the expiration or earlier termination of the License Lease Term or upon Licensee's Tenant’s vacating the premises completely together with all of Licensee's goods and possessionsPremises, whichever Landlord shall last occur, return the such security deposit to Tenant, less such portion thereof as Landlord shall have appropriated to satisfy any of Tenant’s obligations under this Lease or to satisfy an Event of Default (or such other event which, with the giving of notice or the passage of time or both, would constitute an Event of Default) under this Lease. If there shall be any Event of Default (or such other event) under this Lease, then Landlord shall have the right, but shall not be obligated, to use, apply or retain all or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case portion of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for the payment of any (a) Base Rent, additional rent or any other sum applicable to such event, or (b) amount Landlord may spend or become obligated to spend, or for the compensation of Landlord for any losses incurred, by reason of such event (including any damage which was listed or deficiency arising in connection with the reletting of the Premises). If any portion of the security deposit (in whatever form) is so used or applied, then within ten (10) days after Landlord gives written notice to Tenant of such use or application, Tenant shall deposit with Landlord cash in an amount sufficient to restore the security deposit to the original Security Deposit Amount, and Tenant’s failure to do so shall constitute an Event of Default under this Lease. 11.2 If and so long as Landlord transfers the security deposit to any purchaser or other transferee of Landlord’s interest in the statement Property, then Tenant shall look only to such purchaser or transferee for the return of condition the security deposit, and Landlord shall be released from all liability to Tenant for the return of such security deposit, provided, that such purchaser or transferee has assumed all obligations hereunder relating or pertaining to the security deposit as provided in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove this Article. Tenant acknowledges that the renewed damage was unrelated to holder of any Mortgage shall not be liable for the prior damage and was caused return of any security deposit made by the Licensee Tenant hereunder unless such holder actually receives such security deposit. Tenant shall not pledge, mortgage, assign or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance interest therein. 11.3 Tenant shall deliver to Landlord an unconditional, irrevocable letter of credit in lieu of the cash security deposit. Such letter of credit shall be: (a) in form and substance satisfactory to Landlord in its commercially reasonable discretion (with the following criteria at a minimum); (b) at all times in the stated face amount of not less than the Security Deposit Amount (as defined in Section 1.20), and shall on its face state that multiple and partial draws are permitted and either (i) that partial draws will not cause a corresponding reduction in the stated face amount of the letter of credit or (ii) that, within five (5) business days after any such partial draw, the issuer will notify Landlord in writing that the letter of credit will not be reinstated to its full amount in which event Landlord shall have the right to immediately draw on the remainder of the letter of credit (it being understood that the total security deposit on hand, whether in cash or letter of credit form, shall at all times be not less than the total Security Deposit Amount as so defined); (c) issued by a commercial bank acceptable to Landlord from time to time for the account of Tenant, and its permitted successors and assigns under this Lease; (d) made payable to, and expressly transferable and assignable one or more times at no charge by, the owner from time to time of the Building or its lender (which transfer/assignment shall be conditioned only upon the execution of a reasonable and customary written document in connection therewith), whether or not the original account party of the letter of credit continues to be the tenant under this Lease by virtue of a change in name or structure, merger, assignment, transfer or otherwise; (e) payable at sight upon presentment to a branch of the issuer of a simple sight draft stating only that Landlord is permitted to draw on the letter of credit under the terms of the Lease and setting forth the amount that Landlord is drawing; (f) of a term not less than one year, and shall on its face state that the same shall be renewed automatically, without the need for any further written notice or amendment, for successive minimum one-year periods, unless the issuer notifies Landlord in writing, at least sixty (60) days prior to the expiration date thereof, that such issuer has elected not to renew the Letter of Credit (which will thereafter entitle Landlord to draw on the letter of credit); and any accrued interest, (g) at least thirty (30) days prior to the University's successor then-current expiration date of such letter of credit, either (1) renewed (or automatically and unconditionally extended) from time to time through the ninetieth (90th) day after the expiration of the Lease Term, or (2) replaced by Tenant with cash, or another letter of credit meeting the requirements of this Section, in interest for the benefit full amount of Licenseethe Security Deposit. Tenant shall cooperate with Landlord to effect any modifications, transfers or replacements of the letter of credit requested by Landlord in order to assure that Landlord is at all times fully secured by a valid letter of credit that may be drawn upon by Landlord, its successors and assigns. Notwithstanding anything in this Lease to the contrary, any cure or grace period provided in connection with an Event of Default shall not apply to any of the foregoing requirements of the Letter of Credit, and, specifically, if any of the aforesaid requirements are not complied with timely, then an immediate Event of Default shall occur and Landlord shall have the right to immediately draw upon the letter of credit without notice to Tenant and apply the proceeds to the security deposit. Each Letter of Credit shall be issued by a commercial bank that has a credit rating with respect to certificates of deposit, short term deposits or commercial paper of at least A-2 (or equivalent) by ▇▇▇▇▇’▇ Investor Service, Inc., or at least P-2 (or equivalent) by Standard & Poor’s Corporation, and shall be otherwise acceptable to Landlord in its sole and absolute discretion. If the security deposit issuer’s credit rating is reduced below A-2 (or equivalent) by ▇▇▇▇▇’▇ Investors Service, Inc. or below P-2 (or equivalent) by Standard & Poor’s Corporation, or if the financial condition of such issuer changes in any other materially adverse way, then Landlord shall have the right to require that Tenant obtain from a different issuer a substitute letter of credit that complies in all respects with the requirements of this Section, and Tenant’s failure to obtain such substitute letter of credit within ten (10) days following Landlord’s written demand therefor (with no other notice or cure or grace period being applicable thereto, notwithstanding anything in this Lease to the contrary) shall entitle Landlord to immediately draw upon the then existing Letter of Credit in whole or in part, without notice to Tenant. In the event the issuer of any letter of credit held by Landlord is insolvent or is placed into receivership or conservatorship by the Federal Deposit Insurance Corporation, or any successor or similar entity, or if a trustee, receiver or liquidator is appointed for one year or longer from the commencement issuer, then, effective as of Licensee's occupancythe date of such occurrence, Licensee said Letter of Credit shall be entitled deemed to interest on not meet the requirements of this Section, and, within ten (10) days thereof, Tenant shall replace such Letter of Credit with other collateral acceptable to Landlord in its sole and absolute discretion (and Tenant’s failure to do so shall, notwithstanding anything in this Lease to the contrary, constitute an Event of Default for which there shall be no notice or grace or cure periods being applicable thereto other than the aforesaid ten (10) day period). Any failure or refusal of the issuer to honor the letter of credit shall be at Tenant’s sole risk and shall not relieve Tenant of its obligations hereunder with respect to the security deposit. Notwithstanding anything to the contrary contained in this Section, (A) Tenant may request Landlord to reduce the Security Deposit to $1,300,000, upon providing evidence to Landlord confirming that the European Medicines Agency has approved the Marketing Authorization Application for the drug KRYSTEXXA; and (B) provided Tenant or the bank issuing the letter of credit receives a certification from Landlord, which Landlord agrees to timely provide after request after the adjustment date, that (i) no Event of Default under this Lease has occurred, or (ii) no event has occurred under this Lease which with the passage of time will constitute an Event of Default prior to the last day of the fifth (5th) Lease year, the amount of the security deposit Letter of credit shall be reduced to $1,000,000.00 as follows: Tenant shall deliver to Landlord a consent to an amendment to the letter of credit (which amendment must be reasonably acceptable to Landlord in all respects), reducing the amount of the letter of credit by the amount of the permitted reduction, and Landlord shall execute such consent and such other documents as are reasonably necessary to reduce the amount of the letter of credit in accordance with the terms hereof. If Tenant delivers to Landlord a consent to an amendment to the letter of credit in accordance with the terms hereof, Landlord shall, within ten (10) business days after delivery of such consent, either (1) provide its reasonable objections to such amendment or (2) execute such consent in accordance with the terms hereof. In the event that anytime on or after the fifth (5th) Lease year, at the rate time of two percent notice Tenant is then reporting in its periodic filings with the U.S. Securities and Exchange Commission (2%y) “net product sales” equal or exceeding $125 million per yearannum, payable at and (z) net income equal to or exceeding $10 Million per annum, then Tenant may request the end amount of each year the Letter of Licensee's occupancyCredit be reduced to $750,000 in accordance with the procedure outlined above.

Security Deposit. Licensee The required Security Deposit shall pay «Monthly_Fee» be in the form of an Irrevocable Standby Letter of Credit (the “letter of credit”) in the amount set forth in the Reference Pages and substantially in the form attached hereto as Exhibit E. Under any circumstance under which Landlord is entitled to the use of all or any part of the Security Deposit, then Landlord, in addition to all other rights and remedies provided under this Lease, shall have the right to draw down all or a portion of the full balance of the letter of credit and retain the proceeds pursuant to and in accordance with this Article 5. The following terms and conditions shall govern the letter of credit: 5.1 Upon expiration of the Term, the letter of credit shall be returned to Tenant when Tenant is entitled to a return of its Security Deposit pursuant to Section 5.9 below. 5.2 The letter of credit shall be in favor of Landlord, shall be issued by a commercial bank reasonably acceptable to Landlord, shall comply with all of the terms and conditions of this Article 5, shall be substantially in the form attached hereto as Exhibit E and shall otherwise be reasonably acceptable to Landlord. If, at any time while the letter of credit is outstanding, the issuing bank is declared insolvent or taken into receivership by the Federal Deposit Insurance Corporation or any other governmental agency, or is closed for any reason, Tenant shall cause the existing letter of credit to be replaced by a new letter of credit issued by another commercial bank reasonably acceptable to Landlord, with such new letter of credit to comply with all of the terms and conditions of this Section 5.2. If Tenant fails to deliver an amount not acceptable replacement letter of credit within such thirty (30) day period, Landlord shall have the right to exceed one month's License Fee) on or before «Start_Date» present the existing letter of credit to the issuing bank for payment, and the entire sum so obtained shall be paid to Landlord, to be held by the University during the term hereof, Landlord until Tenant provides a replacement letter of credit or any extension or renewal, as a security deposit pursuant Tenant would otherwise be entitled to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount return of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, and shall be retained by Landlord if a default of Tenant should occur hereunder. 5.3 The initial letter of credit shall have an expiration date not earlier than twelve (12) months after the Commencement Date. A draft of the form of letter of credit must be submitted to Landlord for its approval prior to issuance. 5.4 The letter of credit or any partial payment thereofreplacement letter of credit shall be irrevocable for the term thereof and shall automatically renew on a year to year basis until a period ending not earlier than three (3) months after the Termination Date (“End Date”) without any action whatsoever on the part of Landlord; provided that the issuing bank shall have the right not to renew the letter of credit by giving written notice to Landlord not less than sixty (60) days prior to the expiration of the then current term of the letter of credit that it does not intend to renew the letter of credit. Tenant understands that the election by the issuing bank not to renew the letter of credit shall not, in any event, diminish the obligation of Tenant to maintain such an irrevocable letter of credit in favor of Landlord through such date. 5.5 Upon and during the continuance of any Event of Default, Landlord or its then managing agent, shall have the right from time to time to make one or more draws on the letter of credit at any time that Landlord has the right to use all or a part of the Security Deposit pursuant to this Article 5, and the proceeds may be applied as permitted under this Article 5. The University letter of credit must state that it can be presented for payment at the office of the issuer or an approved correspondent in the metropolitan area in which the Building is located. Funds may be drawn down on the letter of credit upon presentation to the issuing or corresponding bank of Landlord’s (or Landlord’s then managing agent’s) certificate stating as follows: “[Beneficiary] is entitled to the use of Applicant’s Security Deposit pursuant to that certain Lease dated January , 2014, between RAR2-▇▇▇▇▇▇ Corporate Center QRS, Inc., as Landlord, and Aspen Technology, Inc., as Tenant, as amended from time to time.” It is understood that if Landlord or its managing agent be a corporation, partnership or other entity, then such statement shall be signed by an officer (if a corporation), a general partner (if a partnership), or any authorized party (if another entity). 5.6 Tenant acknowledges thatand agrees (and the letter of credit shall so state) that the letter of credit shall be honored by the issuing bank without inquiry as to the truth of the statements set forth in such draw request and regardless of whether the Tenant disputes the content of such statement. 5.7 In the event of a transfer of Landlord’s interest in the Premises, subject Landlord shall have the right to damages prescribed transfer the letter of credit to the transferee and Tenant shall take whatever action reasonably necessary to effectuate such transfer and thereupon the Landlord shall, without any further agreement between the parties, be released by Tenant from all liability related to the letter of credit and it is agreed that the provisions hereof shall apply to every transfer or assignment of said letter of credit to a new landlord; provided, however, that Landlord or the new landlord pays all fees to the issuer necessary to evidence such transfer. 5.8 Without limiting the generality of the foregoing, if the letter of credit expires earlier than the End Date, or the issuing bank notifies Landlord that it will not renew the letter of credit, Landlord shall accept a renewal thereof or substitute letter of credit (such renewal or substitute letter of credit to be in effect not later than ten (10) days prior to the expiration of the expiring letter of credit), irrevocable and automatically renewable as above provided to the End Date upon the same terms as the expiring letter of credit or upon such other terms as may be acceptable to Landlord. However, if (a) the letter of credit is not timely renewed, or (b) a substitute letter of credit, complying with all of the terms and conditions of this Section is not timely received, then Landlord may present the expiring letter of credit to the issuing bank, and the entire sum so obtained shall be paid to Landlord, to be held by Landlord in accordance with this Article 5. Notwithstanding the foregoing, Landlord shall be entitled to receive from Tenant reimbursement for Landlord’s actual and reasonable attorneys’ fees incurred in connection with the review of any proposed substitute letter of credit pursuant to this Section 5.8, not to exceed One Thousand Five Hundred and No/100 Dollars ($1,500.00) in each instance. 5.9 The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants and conditions of this Lease to be kept and performed by Tenant and not as an advance rental deposit or as a measure of Landlord’s damage in case of Tenant’s default. If Tenant defaults beyond the expiration of applicable notice and cure periods with respect to any provision of this Lease, Landlord may use any part of the Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion is so used, Tenant shall within five (5) days after written demand therefor, deposit with Landlord 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. Except to such extent, if any, as shall be required by law, it shall, within thirty (30) days after Landlord shall not be required to keep the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereofSecurity Deposit separate from its general funds, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University Tenant shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the amount Security Deposit or any balance thereof shall be returned to Tenant at such time after termination of the security deposit at the rate this Lease when Landlord shall have reasonably determined that all of two percent (2%) per yearTenant’s obligations under this Lease have been fulfilled, payable at the end of each year of Licensee's occupancywhich determination shall be made promptly and shall not be unreasonably delayed.

Security Deposit. Licensee SECTION 29.1 Tenant has deposited with Landlord the sum of One Million and 00/100 Dollars ($1,000,000.00) as security for the full and faithful performance of every provision of this Lease to be performed by Tenant (all or any part of such amount, the "Security Deposit"). If an Event of Default shall pay «Monthly_Fee» have occurred with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of Fixed Rent and Additional Rent, Landlord may use, apply or retain all or any part of this Security Deposit for the payment of any Fixed or Additional Rent or any other sum in default or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of such Event of Default, or to compensate Landlord for any other loss, cost or damage which Landlord may suffer by reason of such Event of Default. Landlord shall give Tenant notice contemporaneously with such use or application of any portion of the Security Deposit. Tenant shall, within five (5) days after the giving of such notice, deposit with Landlord cash in an amount not sufficient to exceed one month's License Fee) on or before «Start_Date» restore the Security Deposit to be held by the University during the term hereof, or any extension or renewal, as a security deposit amount then required pursuant to the terms of this Article 29 (Tenant's obligation to make such payment shall be deemed a requirement that Tenant pay an item of Additional Rent) and Tenant's failure to do so shall be a breach of this Lease. Landlord shall not, unless otherwise required by Legal Requirements, pay interest to Tenant on the Security Deposit, and if Landlord is required to maintain the Security Deposit in an interest bearing account, Landlord will retain the maximum amount permitted under Legal Requirements as a bookkeeping and administrative charge. Tenant shall not assign or encumber any part of the Security Deposit, and no assignment or encumbrance by Tenant of all of any part of the Security Deposit shall be binding upon Landlord, whether made prior to, during, or after the Term. Landlord shall not be required to exhaust its remedies against Tenant or against the Security Deposit before having recourse to any other form of security held by Landlord and recourse by Landlord to any Security Deposit shall not affect any remedies of Landlord which are provided in this Lease or which are available to Landlord in law or in equity. If Tenant shall fully and faithfully perform every covenant and provision of this Lease to be performed and observed by Tenant, the Security Deposit or any balance thereof shall be returned to Tenant reasonably promptly after the expiration or sooner termination (other than a termination pursuant to Article 16) of the Term and Tenant's surrender to Landlord of the Premises. In the event the Building is sold, Landlord shall transfer the Security Deposit to the new owner and Landlord shall thereupon be released by Tenant from all liability for the return of said Security Deposit; and Tenant agrees to look to the new owner solely for the return of the Security Deposit. A lease of the entire Building shall be deemed a transfer within the meaning of the foregoing sentence. Landlord shall use reasonable efforts to notify or cause Tenant to be notified in the event of any transfer of the Building. SECTION 29.2 In lieu of a cash deposit, Tenant may deliver to Landlord a clean, irrevocable, non-documentary and unconditional Letter of Credit issued by and drawn upon any commercial bank, trust company, national banking association or savings and loan association having offices for banking purposes in the City of New York and which is a member of the New York Clearinghouse Association (the "Issuing Bank") and which (or the parent company of which) shall have outstanding unsecured, uninsured and unguaranteed indebtedness, or shall have issued a letter of credit or other credit facility that constitutes the primary security for any outstanding indebtedness (which is otherwise uninsured and unguaranteed), that is then rated, without regard to qualification of such rating by symbols such as "+" or "-" or numerical notation, "Aa" or better by Mood▇'▇ ▇▇▇estors Service and "AA" or better by Standard & Poor's Corporation, and has combined capital, surplus and undivided profits of not less than $500,000,000.00, which Letter of Credit shall have a term of not less than one year, be in form and content satisfactory to Landlord (and substantially as shown on Exhibit D attached hereto and made a part hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE), nor shall any damages be limited to for the account of Landlord, be in the amount of the security depositSecurity Deposit then required to be deposited hereunder, and be fully transferable by Landlord to successor owners of the Building without the payment of any fees or charges, it being agreed that if any such fees or charges shall be so imposed, then such fees or charges, shall be paid by Tenant. The University Letter of Credit shall furnish Licensee with a separate provide that it shall be deemed automatically renewed, without amendment, for consecutive periods of one year each thereafter during the term of this Lease, unless the Issuing Bank sends notice (the "Non-Renewal Notice") to Landlord by certified mail, return receipt at the time of receiving the Security Depositrequested, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within not less than thirty (30) days after next preceding the termination then expiration date of the License Letter of Credit that it elects not to have such Letter of Credit renewed. Additionally, the Letter of Credit shall provide that Landlord shall have the right, exercisable within twenty (20) days of its receipt of the Non-Renewal Notice, by sight draft on the Issuing Bank, to receive the monies represented by the existing Letter of Credit and to hold such proceeds pursuant to the terms of this Section 29.2 as a cash security pending the replacement of such Letter of Credit. If an Event of Default shall have occurred and be continuing with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of Fixed Rent and Additional Rent, Landlord may apply or upon Licensee's vacating retain the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit whole or any balance thereofpart of the cash security so deposited or may notify the Issuing Bank and thereupon receive all the monies represented by the Letter of Credit and use, and any interest thereonapply, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to or retain the Premises by Licensee whole or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case part of such damageproceeds, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing as provided in precise detail the nature this Section 29.2. Any portion of the damages and cash proceeds of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices Letter of Credit not so used or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement applied by Landlord in satisfaction of the present condition obligations of the Premises. If the Licensee disagrees with the University's statement Tenant as to which such Event of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount Default shall have occurred shall be deducted from the security deposit for any damage which was listed deposited by Landlord and retained in the statement of condition or an interest-bearing account as provided in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySection 29.

Security Deposit. Licensee shall Tenant has paid or agrees to pay «Monthly_Fee» (an amount not to exceed one month's License FeeLandlord such sum(s) on or before «Start_Date» to be held by as are set forth in Item 9 of the University during Basic Lease Provisions as security for the term hereof, or any extension or renewal, as a security deposit pursuant to performance of the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEhereof by Tenant. Unless required by law, nor Landlord shall not be required to keep said Security Deposit separate from its general funds and Tenant shall not be entitled to receive interest thereon. In no instance shall the amount of such Security Deposit be considered a measure of liquidated damages. If Tenant defaults with respect to any damages be provision of this Lease, including but not limited to the amount provisions relating to the payment of Rent or the surrender of the security depositPremises in accordance with the terms hereof upon the termination of the Lease, Landlord may, but shall not be required to use, apply or retain all or any part of this Security Deposit for the payment of any Rent or any other sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default including, without limitation, costs and attorneys' fees incurred by Landlord. The University If any portion of said deposit is so used or applied, Tenant shall, upon 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 furnish Licensee with constitute a separate receipt at the time default hereunder by Tenant. If Tenant shall fully and faithfully perform every provision of receiving this Lease to be performed by it, the Security Deposit, or any partial payment balance thereof. The University acknowledges that, subject shall be returned to damages prescribed by lawTenant (or, it shallat Landlord's option, to the permitted assignee of Tenant's interest hereunder) within thirty (30) days after following the termination expiration of the License or upon Licensee's vacating the premises completely together with all Lease term and after Tenant has vacated and delivered possession of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on to Landlord in accordance with the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedprovisions of this Lease. In the case event of bankruptcy or other debtor-creditor proceeding against Tenant, such Security Deposit shall be deemed to have been applied first to the payment of Rent and other charges due Landlord for all periods prior to filing of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyproceedings.

Security Deposit. Licensee (a) Concurrently with the execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not deliver to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as Landlord a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to in the amount of Six Hundred Thousand and No/100 ($600,000) (the security deposit"SECURITY DEPOSIT"). The University Security Deposit shall furnish Licensee with be in the form of (i) an irrevocable Letter of Credit (the "LETTER OF CREDIT") issued by a separate receipt at bank reasonably acceptable to Landlord and in form and substance reasonably acceptable to Landlord or (ii) a transferable certificate of deposit (the time "CERTIFICATE OF Deposit") from a bank reasonably acceptable to Landlord and in form and substance reasonably acceptable to Landlord. The Security Deposit shall remain in full force and effect as security for the payment by Tenant of receiving the Security Rent and all other charges or payments to be paid hereunder and the performance of the covenants and obligations contained herein. The Letter of Credit or Certificate of Deposit, or any partial payment thereof. The University acknowledges thatas the case may be, subject to damages prescribed by law, it shall, within either provide for automatic renewals or be renewed at least thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or prior to any balance expiration thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees Letter of Credit or Certificate of Deposit has not been renewed by such date, time being of the essence, Landlord shall have the right at any time after the thirtieth (30th) day before such expiration date to draw on the Letter of Credit or Certificate of Deposit, in which event the proceeds ("CASH SECURITY DEPOSIT") shall be deposited in an interest-bearing account and held in accordance with all applicable Legal Requirements and subject to the terms of this Lease. At any time and from time to time, Tenant shall have the right to provide a Letter of Credit or Certificate of Deposit to Landlord in substitution for a Cash Security Deposit, and upon the delivery of the Letter of Credit or Certificate of Deposit to Landlord in substitution for a Cash Security Deposit, the Cash Security Deposit and all interest that has accrued thereon and has not previously been paid to Tenant will be delivered to Tenant. (b) Notwithstanding anything to the contrary set forth herein, so long as no Event of Default has occurred and is then continuing the Security Deposit shall be released to Tenant if and when Tenant shall have achieved a credit rating on its senior unsecured debt of not less than BBB from Standard & Poor's Corporation (the "RELEASE RATING"), provided that if at any time after Tenant achieves a Release Rating, the Tenant's credit rating becomes less than the Release Rating, Tenant shall repost or redeposit with Landlord the Security Deposit in accordance with the University's statement provisions of conditionParagraph 37(a). (c) If at any time an Event of Default shall have occurred and be continuing beyond the applicable grace period, Licensee must attach if any, Landlord shall be entitled, at its sole discretion, to draw on the Letter of Credit or Certificate of Deposit or to withdraw the Cash Security Deposit or to foreclose on the Security Deposit Mortgage and to apply the proceeds in payment of (i) any Rent or other charges for the payment of which Tenant shall be in default, (ii) any expense incurred by Landlord in curing any default of Tenant, and/or (iii) any other sums due to Landlord in connection with any default or the curing thereof, including, without limitation, any damages incurred by Landlord by reason of such default. If any portion of the Security Deposit is used, retained or applied by Landlord for any purpose set forth above, Tenant shall, within ten (10) days after demand therefor is made by landlord, provide to Landlord cash or a separate list Letter of any damage existing Credit which complies with the requirements of this Paragraph 37 and is in the Premises original principal amount thereof. (d) If the Security Deposit is held by Landlord at the expiration of the Term and so long as no Event of Default exists, the Letter of Credit, Certificate of Deposit or the Cash Security Deposit, as the case may be, shall be returned to Tenant within fifteen (15) days following the expiration of the Term. (e) Landlord shall have the right to designate Lender or any other holder of a Mortgage as the beneficiary of the Letter of Credit Certificate of Deposit or Cash Security Deposit during the term of the applicable Loan and in such event Lender shall have all of the rights of Landlord under this Paragraph 37. Tenant covenants and agrees to execute such agreements, consents and acknowledgments as may be requested by Landlord from time to time to change the holder of the Security Deposit as hereinabove provided; provided, however, in no event shall such transfer relieve Landlord of its obligations to return the statement Security Deposit to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyTenant.

Security Deposit. Licensee On or prior to the Commencement Date, Tenant shall deposit with Landlord either a letter of credit or cash in the sum of Ninety Four Thousand and 00/00 Dollars ($94,000.00) representing a security deposit against the faithful performance of the terms and conditions contained in this Lease (the "Security Deposit"), which Security Deposit shall be transferable to the Facility Mortgagee or its successors and assigns in accordance with the provisions of any Facility Mortgage. As long as no Event of Default has occurred and is then continuing, and as long as no fact or circumstance currently exists which, with the giving of notice or the passage of time, would constitute an Event of Default, then interest on any cash Security Deposit shall be paid by Landlord to Tenant on a quarterly basis in arrears at a rate of interest per annum equal to the 90-day Treasury ▇▇▇▇ rate for segregated accounts, and the bank pay «Monthly_Fee» (rate for general accounts. If Tenant shall elect to provide the Security Deposit in the form of a letter of credit, such letter of credit shall be unconditional and irrevocable and shall be provided by a bank acceptable to Landlord. Said letter of credit shall contain terms whereby it may be drawn upon by Landlord at sight on any date during the Term or Extended Term on which issuer shall receive from Landlord a certification signed by Landlord that an amount not Event of Default has occurred with respect to exceed one month's License FeeTenant. Any balance left of the sum received from drawing on the letter of credit, after the correction of any such Event(s) on or before «Start_Date» to of Default, shall be held by the University during the term hereof, or any extension or renewal, Landlord as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the cash security deposit. The University In the event that Landlord shall furnish Licensee with a separate receipt at draw upon any letter of credit provided by Tenant hereunder, Tenant shall replace the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within same no later than thirty (30) days after the termination date of such drawing. Tenant acknowledges and agrees that it shall keep any letter of credit posted hereunder in full force and effect throughout the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, Term and any interest thereon, if due, after deducting Extended Term and for thirty (130) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to days following the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedend thereof. In the case event that the term of the letter of credit must be renewed annually, then not more than thirty (30) days prior to any expiration date of such damageletter of credit, Tenant shall provide Landlord with a replacement letter of credit. Should Tenant fail to provide Landlord with a replacement letter of credit, Landlord shall have the right to draw on the entire amount of the letter of credit and hold it as the Security Deposit until the letter of credit is replaced. Upon the expiration or earlier termination of this Lease, provided that Tenant shall have met all of its obligations under this Lease, the University Security Deposit shall provide the Licensee, be returned to Tenant within thirty (30) days, with an itemized list days of damages, sworn to by the University such expiration or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancytermination.

Security Deposit. Licensee shall pay «Monthly_Fee» A cash deposit (the “Cash Deposit”) and an irrevocable standby letter of credit (an amount not “L/C”, and collectively with the Cash Deposit, the “Security Deposit”) in the amounts set forth in Section G(1) and (2) of Summary shall be delivered by Tenant to exceed one month's License Fee) on or before «Start_Date» to Landlord upon execution of this Lease and shall be held by Landlord without liability for interest and as security for the University during due performance and observance by Tenant of Tenant’s agreements, covenants and obligations under this Lease, it being expressly understood that the term hereofSecurity Deposit shall not be considered an advance payment of rent or a measure of Landlord’s damages in case of default by Tenant. The L/C shall be issued by a reputable financial institution in the Hong Kong SAR acceptable to Landlord and shall be drawable by Landlord upon written demand on sight, delivered by Landlord to such financial institution, stating that a material default (as determined by Landlord in its reasonable opinion) has occurred hereunder as a result of which Tenant is indebted to Landlord for rent, or Management Charges or other charges, or any extension costs, loss, damage, injury, or renewalexpense caused by such material default, and specifying the amount thereof. Upon the occurrence of any breach or default under this Lease by Tenant, Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit or any reasonable portion thereof (against receipt) to the extent necessary to make good any arrears of rent, Management Charges and other charges payable hereunder or any costs, loss, damages, injury, or expense caused to Landlord by such breach or default. Landlord shall first use all of the Cash Deposit and thereafter may draw upon the L/C, in each case as may be permitted by the terms of the preceding sentence. At all times prior to the expiry of the term of this Lease, or any early determination of this Lease, and following any drawing under the L/C, Tenant shall promptly cause the replacement of the L/C with a security deposit fresh L/C in the full amount set forth in Section G (2) of Summary. Following any application of the Cash Deposit, Tenant shall pay to Landlord on demand an amount to restore the Cash Deposit to its original amount. In the event of bankruptcy or other debtor relief proceedings by or against Tenant (subject to applicable law in the Hong Kong SAR), the Security Deposit shall be deemed to be applied first, to the payment of rent and other charges due to Landlord, in the order that such rent or charges became due and owing, for all periods prior to filing of such proceedings. For the avoidance of doubt, if the Security Deposit is applied or deemed applied pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEforegoing sentence, nor the Cash Deposit shall any damages be limited to applied or deemed applied first, and then the amount L/C shall be drawn or deemed drawn. Landlord shall keep the Security Deposit in accordance with the laws of the security depositGovernment of the HKSAR. The University shall furnish Licensee with a separate receipt at the time Upon termination of receiving this Lease any remaining portion of the Security Deposit, or any partial being the balance of the Cash Deposit (if any), and the L/C shall be returned by Landlord to Tenant without payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, of interest on the Cash Deposit within (i) thirty (30) days after the termination expiration of or sooner determination of this Lease and delivery of vacant possession to the Landlord, subject to the provisions of Section 15 of this Lease, or (ii) settlement of the License last outstanding claim by the Landlord against Tenant for arrears of rent and other charges (against receipt) and for any breach, non-observance or upon Licensee's vacating non-performance of any of the premises completely together with all agreements, stipulations, terms and conditions herein contained and on the part of Licensee's goods and possessions, the Tenant to be observed or performed whichever shall last occurbe the later. Tenant shall, return not less than sixty (60) days before the security deposit expiration date of any L/C provided to Landlord by Tenant under this Lease, procure either a renewal of the L/C or any balance thereofa fresh L/C, and any interest thereonin either case, on the same terms and conditions as the existing L/C or with amendments reasonably acceptable to Landlord (a “Replacement L/C”). Notwithstanding anything contrary contained in this Lease, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises Replacement L/C shall not be received by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within Landlord thirty (30) days, with an itemized list of damages, sworn days prior to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature expiry of the damages and of the repairs necessary to correct itexisting L/C, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee Landlord shall be entitled to interest draw on the amount existing L/C and hold those funds as part of the security deposit at Cash Deposit. At any time thereafter Tenant may provide a Replacement L/C and Landlord will, in exchange, transfer to Tenant the rate of two percent proceeds from the original L/C (2%) per year, payable at the end of each year of Licensee's occupancywithout being liable for any interest thereon).

Security Deposit. Licensee On the execution of this Lease, Tenant shall deliver to Landlord as security for the performance of the obligations of Tenant hereunder, a letter of credit (as renewed, replaced, and/or increased pursuant to this Lease, and all proceeds thereof, the "Letter of Credit") in the initial amount specified therefor in Section 1.1, subject to adjustment as set forth below, in accordance with this Section (as renewed, replaced, and/or increased pursuant to this Lease, and all proceeds thereof, the "Security Deposit"). Tenant's failure to timely deliver the Security Deposit to Landlord shall constitute a default under this Lease, without any notice or cure period under Article VIII. The Letter of Credit (i) shall be irrevocable and shall be issued by a commercial bank reasonably acceptable to Landlord that has an office in Boston, Massachusetts, (ii) shall require only the presentation to the issuer of a certificate of the holder of the Letter of Credit stating that either a default has occurred under this Lease after the expiration of any applicable notice and cure period (or that Tenant has failed to timely pay «Monthly_Fee» rent or is otherwise in default under the Lease and transmittal of a default notice is barred by applicable law) or that Tenant has become the subject of a bankruptcy, insolvency or similar proceeding, (iii) shall be payable to Landlord or its successors in interest as the Landlord and shall be freely transferable without cost to any such successor or any lender holding a collateral assignment of Landlord's interest in the Lease, (iv) shall be for an amount initial term of not less than one year and contain a provision that such term shall be automatically renewed for successive one- year periods unless the issuer shall, at least 45 days prior to exceed one month's License Feethe scheduled expiration date, give Landlord written notice of such nonrenewal, and (v) on or before «Start_Date» shall otherwise be in form and substance reasonably acceptable to be held by Landlord. Notwithstanding the University during foregoing, the term hereofof the Letter of Credit for the final period shall be for a term ending not earlier than the date sixty (60) days after the last day of the Term or, if applicable, any Extension Term. Landlord shall be entitled to draw upon the Security Deposit for its full amount (a) if Tenant shall be in default under the Lease, after the expiration of any applicable notice or cure period (or if Tenant has failed to timely pay rent or is otherwise in default under the Lease and transmittal of a default notice is barred by applicable law), or any extension (b) in the case of the Letter of Credit if, not less than 30 days before the scheduled expiration of the Letter of Credit, Tenant has not delivered to Landlord a new Letter of Credit in accordance with this Section (which failure shall be deemed a default without notice or renewalcure period). All amounts so drawn shall be the exclusive property of Landlord and Landlord may, as a security deposit pursuant but shall not be obligated to, apply the amount so drawn to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEextent necessary to cure Tenant's default under the Lease. The Security Deposit may be commingled with other funds of Landlord and shall not constitute an asset of Tenant, and no fiduciary relationship shall be created with respect to such deposit, nor shall Landlord be liable to pay Tenant interest thereon. If Tenant shall fail to perform any damages of its obligations under this Lease, Landlord may, but shall not be limited obliged to, apply the Security Deposit to the amount extent necessary to cure the default. After any such application by Landlord of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereofTenant shall reinstate the Letter of Credit to the amount originally required to be maintained hereunder, upon demand. The University acknowledges thatIf Landlord has drawn on the Letter of Credit under Section 8.6(b), subject and to damages prescribed by lawthe extent Landlord has not applied amounts to cure Tenant defaults, it shallthen after acceptance of a replacement Letter of Credit, within thirty Landlord shall restore to Tenant the remaining amount of such funds. Within sixty (3060) days after the expiration or sooner termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereofTerm, and provided that no default exists under this Lease, the Letter of Credit, to the extent not applied, shall be returned to the Tenant, without interest. In the event of a sale of the Premises or lease, conveyance or transfer of the Premises, Landlord shall have the right to transfer the Security Deposit to the transferee and Landlord shall thereupon be released by Tenant from all liability for the return of such Security Deposit; and subject to Article IX, Tenant agrees to look to the transferee solely for the return of said Security Deposit. The provisions hereof shall apply to every transfer or assignment made of the Security Deposit to such a transferee. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the Letter of Credit or the monies deposited herein as security, and that neither Landlord nor its successors or assigns shall be bound by any interest thereonassignment, encumbrance, attempted assignment or attempted encumbrance. Tenant will enter into such agreements as Landlord's lender may request with respect to the assignment of the Security Deposit to such lender. In connection with any transfer of the Premises, Tenant shall cooperate with Landlord in the assignment of the Letter of Credit to the transferee and, if duerequested by the transferee, Tenant shall, within ten (10) business days from such request, cause a substitute Letter of Credit to be issued to the transferee that complies with the requirements of this Section. The amount of the Security Deposit required under Section 1.1 shall be increased as set forth in Section 5.16 hereof and may be reduced as hereinafter set forth. Such increase (or reduction) shall be effectuated by the delivery to Landlord of a substitute Letter of Credit in the increased amount that otherwise complies with the requirements of this Section. The amount of the Security Deposit may be reduced by Fifty Thousand Dollars ($50,000) as of the first day of each of the thirteenth (13th), twenty-fifth (25th), and thirty-seventh (37th) months after deductingthe Commencement Date if, and only if, Tenant is not in monetary or other material default and Parlex accomplishes the following milestones (as calculated in accordance with Generally Accepted Accounting Principles and certified by Parlex's outside auditors): (1a) Any unpaid License feesParlex shall have gross revenues for each fiscal year beginning in fiscal year 2003 on a consolidated basis of at least One Hundred Million Dollars ($100,000,000) and Parlex's earnings before taxes shall not be less than $1.00; (2b) A reasonable amount necessary The current ratio of Parlex's current assets to repair any damage caused to the Premises by Licensee or any person under Licensee's control or its current liabilities, determined on the Premises with Licensee's consenta consolidated basis, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from not less than 1.05 to 1; (c) Parlex's current debt to equity ratio shall not be greater than 0.5:1; (d) No monetary or other material defaults shall exist under any of Parlex's or Tenant's then current loan agreements with its lending institutions and Tenant and Parlex each shall certify the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused same to Landlord; and (e) Tenant continues to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit a wholly owned subsidiary of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyParlex.

Security Deposit. Licensee The Security Deposit shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by Landlord as security for the University during performance of Tenant's obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon each occurrence of a Default, Landlord may use all or part of the term hereofSecurity Deposit to pay delinquent payments due under this Lease, and the cost of any damage, injury, expense or liability caused by such Default, without prejudice to any other remedy provided herein or provided by law. Upon any such use of all or any extension portion of the Security Deposit, Tenant shall pay Landlord on demand the amount that will restore the Security Deposit to its original amount. Upon bankruptcy or renewalother debtor-creditor proceedings against Tenant, as the Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for periods prior to the filing of such proceedings. Landlord's obligation respecting the Security Deposit is that of a debtor, not a trustee; no interest shall accrue thereon. The Security Deposit shall be the property of Landlord, but shall be paid to Tenant when Tenant's obligations under this Lease have been completely fulfilled. Landlord shall be released from any obligation with respect to the Security Deposit upon transfer of this Lease and the Premises to a person or entity assuming Landlord's obligations under this Section 6. Tenant hereby waives the provisions of any law, now or hereafter in force, which provide that Landlord may claim from a security deposit pursuant only those sums reasonably necessary to remedy defaults in the terms hereof; payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being understood agreed that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEELandlord may, nor in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant, as provided herein. If Tenant shall any damages fully perform every provision of this Lease to be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving performed by Tenant, the Security Deposit, or any partial payment balance thereof. The University acknowledges that, subject shall be returned to damages prescribed by lawTenant (or, it shallat Landlord's option, to the last assignee of Tenant's interest hereunder) within thirty (30) 90 days after the expiration or earlier termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis Lease.

Security Deposit. Licensee (a) Subtenant shall pay «Monthly_Fee» to Sublandlord the sum of $290,209.69 (an amount not to exceed one month's License Fee) “Security Deposit”), on or before «Start_Date» the date that Sublandlord delivers the Premises to be held by the University during the term hereof, or any extension or renewalSubtenant in accordance with Section 3(a), as security for Subtenant’s full and faithful performance of all covenants and conditions contained in the Sublease. Sublandlord shall deposit the Security Deposit into a security deposit pursuant to segregated account identified as the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount repository of the a security deposit. If a Default by Subtenant occurs under this Sublease, including, but not limited to, payment of the Base Rent, Sublandlord may use, apply or retain the whole or any part of the Security Deposit for the payment of any such Base Rent in default, or for any other sum which the Sublandlord may expend or be required to expend by reason of Subtenant’s Default, including, without limitation, any damages or deficiency which shall have occurred before or after re-entry by Sublandlord. The University shall furnish Licensee with Security Deposit may not be used or applied by Subtenant as a separate receipt substitute for any rent due, but may be so applied by Sublandlord at any time after the time occurrence of receiving a Default by Subtenant, at Sublandlord’s sole option. The use, application or retention of the Security Deposit, or any partial payment portion thereof, by Sublandlord shall not prevent Sublandlord from exercising any other right or remedy provided by this Sublease or by law (it being intended that the Sublandlord shall not first be required to proceed against the Security Deposit) and shall not operate as a limitation on any recovery to which Sublandlord may otherwise be entitled. The University acknowledges thatIf any of the Security Deposit shall be so used, subject applied or retained by Sublandlord at any time or from time to damages prescribed time, Subtenant shall promptly, in each such instance, on written demand therefor by lawSublandlord, it shallpay the Sublandlord such additional sum in cash as may be necessary to restore the Security Deposit to the original amount set forth in the first sentence of this section (or the reduced amount set forth in Section 4(b) below, as applicable). Provided that (i) Subtenant has delivered exclusive possession of the Premises to Sublandlord in the condition required by this Sublease, (ii) no Default exists under this Sublease, and (iii) no act, event or condition exists which, with notice or the passage of time, would constitute a Default under this Sublease, Sublandlord shall return the Security Deposit, or any balance thereof, to Subtenant within thirty (30) days after the later of: (a) the Expiration Date or earlier termination of the License or upon Licensee's vacating Term of this Sublease and (b) the premises completely together date by which Subtenant has vacated the Premises in accordance with all of Licensee's goods and possessionsthe terms hereof. Except as otherwise required by law, whichever Subtenant shall last occur, return the security deposit or any balance thereof, and not be entitled to any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedSecurity Deposit. In the case event of such damagea transfer of Sublandlord’s interest in the Prime Lease, Sublandlord shall have the University right to transfer the Security Deposit to the transferee, whereupon Sublandlord shall provide be released from all liability for the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature return of the damages Security Deposit. (b) As of April 1, 2012, provided that no Default then exists under the Sublease, Sublandlord agrees that the Security Deposit shall be reduced to $96,736.56, and the difference between the unapplied portion of the repairs necessary to correct it, original Security Deposit and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount reduced Security Deposit shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused returned to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent Subtenant within five (2%5) per year, payable at the end of each year of Licensee's occupancybusiness days after such reduction takes effect.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on On or before «Start_Date» the thirtieth (30th) after the mutual execution of this Lease, Tenant will deliver a Security Deposit to Landlord in the form of an irrevocable letter of credit (the “Letter of Credit”), which Letter of Credit shall: (a) be held by in the University during initial amount of $2,000,000.00; (b) be issued on a commercially reasonable form of Letter of Credit that is reasonably acceptable to Landlord, Tenant and the issuer of the Letter of Credit; (c) name Landlord as its beneficiary; and (d) be drawn on an FDIC insured financial institution reasonably satisfactory to the Landlord. The Letter of Credit (and any renewals or replacements thereof) shall be for a term hereof, of not less than 1 year (or any extension such shorter period of time as may be required to accommodate the reductions provided below or renewalthe expiration of the Term). Tenant agrees that it shall from time to time, as necessary, whether as a security deposit result of a draw on the Letter of Credit by Landlord pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to a reduction of the amount of the security depositLetter of Credit as permitted hereunder, or as a result of the expiration of the Letter of Credit then in effect, renew or replace the original and any subsequent Letter of Credit so that a Letter of Credit, in the amount required hereunder, as reduced if applicable, is in effect until a date which is at least 60 days after the earlier of (i) the date the required amount of the Letter of Credit is reduced to zero in accordance with the last full paragraph of this Section VI; or (ii) the date this Lease expires or terminates. The University If Tenant fails to furnish such renewal or replacement at least 60 days prior to the stated expiration date of the Letter of Credit then held by Landlord, Landlord may draw upon such Letter of Credit and hold the proceeds thereof (and such proceeds need not be segregated) as a Security Deposit pursuant to the terms of this Article VI. Any renewal or replacement of the original or any subsequent Letter of Credit shall furnish Licensee with a separate receipt meet the requirements for the original Letter of Credit as set forth above, except that such replacement or renewal shall be issued by an FDIC insured financial institution reasonable satisfactory to the Landlord at the time of receiving the issuance thereof. If Landlord draws on the Letter of Credit as permitted in this Lease or the Letter of Credit, such draw may be a full or partial draw and all funds obtained by Landlord shall be applied first to any past due payments of Rent. If and to the extent that there are any drawn funds that remain after Landlord’s application to past due Rent payments (the “Excess Funds”), Landlord may elect to: (1) return the Excess Funds to Tenant, in which case Tenant shall promptly restore the Letter of Credit to the amount available immediately prior to the draw by Landlord; or (2) retain the Excess Funds as a cash security deposit, in which case, Tenant shall promptly restore the Security Deposit to the amount existing immediately prior to the draw by Landlord by providing Landlord with cash or an alternate Letter of Credit (in compliance with the requirements set forth in this Section VI) for the difference between the Excess Funds and the amount of the Security Deposit immediately prior to Landlord’s draw; provided, however, in no event will Landlord be entitled to a total security deposit in excess of $2,000,000 (as such amount may be reduced in accordance with the following paragraph). Any restored or alternate Letter of Credit provided by Tenant under this paragraph shall be in the proper amount provided for above in this paragraph and shall meet the other requirements for the original Letter of Credit pursuant to this Article VI. Subject to the remaining terms of this Article VI, and provided that there has been no Monetary Default during the ninety (90) days immediately preceding the effective date of any reduction of the Security Deposit, or any partial payment thereof. The University acknowledges that, subject Tenant shall have the right to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on reduce the amount of the security deposit at Security Deposit (i.e., the rate Letter of two percent Credit) so that the reduced Letter of Credit amounts will be as follows: (2%w) per year$1,500,000.00 effective as of June 1, payable at 2017; (x) $1,000,000.00 effective as of June 1, 2018; (y) $500,000.00 effective as of June 1, 2019; and (z) $0.00 effective as of June 1, 2020. If Tenant is not entitled to reduce the end Security Deposit (i.e., the Letter of Credit) as of a particular reduction effective date due to the occurrence of a Monetary Default during the ninety (90) days immediately preceding the effective date of any reduction of the Security Deposit, then Tenant’s right to reduce the Security Deposit will be delayed until ninety (90) consecutive days have passed without the occurrence of a Monetary Default, plus three (3) additional days for each year day of Licensee's occupancydelay resulting from the occurrence of a Monetary Default during the ninety (90) day period preceding the scheduled Security Deposit reduction date. Any reduction in the Letter of Credit shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount.

Security Deposit. Licensee Concurrent with Tenant’s execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as deposit with Landlord a security deposit pursuant (the “Security Deposit”) in the amount set forth in Section 8 of the Summary, as security for the faithful performance by Tenant of all of its obligations under this Lease. If Tenant defaults with respect to any provisions of this Lease, including, but not limited to, the provisions relating to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEpayment of Rent, nor the removal of property and the repair of resultant damage, Landlord, without notice to Tenant, may, but shall not be required to, use, apply or retain all or any damages be limited to the amount part of the security depositSecurity Deposit for the payment of any Rent or any other sum in default, or for the payment of any amount that Landlord may spend or become obligated to spend by reason of Tenant’s default, or to compensate Landlord for any other loss or damage that Landlord may suffer by reason of Tenant’s default. The University If any portion of the Security Deposit is so used, applied or retained, Tenant shall, within five (5) business days after written 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 furnish Licensee with be a separate receipt at the time default under this Lease. If Tenant shall fully and faithfully perform every provision of receiving this Lease to be performed by it, the Security Deposit, or any partial payment remaining balance thereof. The University acknowledges that, subject shall be returned to damages prescribed by lawTenant, it shallor, at Landlord’s option, to the last assignee of Tenant’s interest hereunder, within thirty (30) days after following the termination expiration of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever Lease Term. Tenant shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to any interest on the amount Security Deposit. Tenant acknowledges and agrees that (A) any statutory time frames for the return of the a security deposit at are superseded by the rate express period identified in this Article 21, above, and (B) rather than be so limited, Landlord may claim from the Security Deposit (i) any and all sums expressly identified in this Article 21, above, and (ii) any additional sums reasonably necessary to compensate Landlord for any and all losses or damages caused by Tenant’s default of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis Lease.

Security Deposit. Licensee A deposit in the amount of $432,000 (the "Security ---------------- Deposit") shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University Landlord during the term hereofTerm of this Lease as security for the full, or any extension or renewalfaithful and punctual performance of Tenant's covenants hereunder, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEthe Security Deposit is not to be considered prepaid rent, nor shall any damages be limited to the amount of the security depositSecurity Deposit, nor shall Landlord be required, because of the Security Deposit, to waive its right to terminate this Lease upon a default. The University Security Deposit (if held in cash) shall furnish Licensee with not earn interest and need not be kept in a separate receipt at the time of receiving the segregated account or otherwise escrowed. The Security Deposit, or any partial payment balance thereof. The University acknowledges that, shall be refunded to Tenant, subject to damages prescribed by law, it shallTenant's satisfactory compliance herewith, within thirty (30) days after following the termination end of the License or upon Licensee's vacating Term of this Lease. Tenant shall be entitled to pay the premises completely together with all Security Deposit in the form of Licensee's goods an irrevocable letter of credit subject to the following terms and possessions, whichever conditions. Said letter of credit shall last occur, return the security deposit be issued by Silicon Valley Bank or any balance thereof, other commercial bank reasonably acceptable to Landlord and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary shall be in a form reasonably satisfactory in all respects to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case event of any default by Tenant beyond the applicable grace period, Landlord shall be entitled to receive from the issuer of such damageletter of credit upon demand so much of the amount which may be drawn therefrom as shall be necessary to cure such default and compensate Landlord for all losses, the University liabilities, damages and other expenses, including without limitation reasonable attorneys' fees, which may be imposed upon, incurred by or asserted against Landlord by reason of such default, and Tenant shall provide the Licenseethereafter promptly restore such letter of credit to its original amount. If Tenant fails to restore such letter of credit to its original amount as hereinabove required, or if such letter of credit is about to expire and shall not have been renewed as herein required within thirty (30) daysdays preceding such expiration, with an itemized list then in any such event Landlord may upon demand withdraw all remaining available funds under such letter of damagescredit and hold the same as a cash security deposit pursuant to the preceding provisions of this Section. So long as Tenant is not then in default hereunder and has not prior thereto been given written notice of any such default on more than two (2) occasions during any twelve (12) month period, sworn the Security Deposit may be reduced to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature $216,000 effective as of the damages and first day of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing 31st full calendar month included in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement Term of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis Lease.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» As security for the full and faithful performance of every covenant and condition of this Lease to be held performed by Tenant, Tenant has paid the University during Security Deposit to Landlord, and Landlord acknowledges receipt of the term hereofSecurity Deposit. If Tenant shall default with respect to any covenant or condition of this Lease, including but not limited to the payment of Rent or any other amount or charge due hereunder, Landlord may apply all or any part of the Security Deposit to the payment of any sum in default, or any extension other sum, which Landlord may be required to spend or renewalincur by reason of Tenant's default, as a security and any other sum, which Landlord may in its reasonable discretion deem necessary to spend or incur on Tenant's behalf or by reason of Tenant's default. In any such event, Tenant shall within ten (10) days of demand, deposit pursuant with Landlord the amount so applied, expended or incurred. Only if Tenant shall have fully complied with all of the covenants and conditions of this Lease at the time of termination, and shall have delivered the Premises to Landlord in the condition required by the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEof this Lease, nor shall any damages be limited to but not otherwise, the amount of the security deposit. The University Security Deposit then held by Landlord shall furnish Licensee with a separate receipt be repaid to Tenant (or, at Landlord's option, to the time last assignee of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, Tenant's interest hereunder) within thirty (30) days after the expiration or sooner termination of this Lease. Tenant shall not assign or encumber the License Security Deposit and neither Landlord nor its successors or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount assigns shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or bound by any person under such assignment or encumbrance. Landlord may comingle the Licensee's control or on the Premises Security Deposit with Licensee's consent. If the University transfers the Premises, the University other funds and Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyor other return thereon.

Security Deposit. Licensee Concurrently with Tenant's delivery of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» deposit with Landlord the sum, if any, stated in Item 9 of the Basic Lease Provisions, to be held by Landlord as security for the University during full and faithful performance of all of Tenant's obligations under this Lease (the term hereof"Security Deposit"). Landlord shall not be required to keep this Security Deposit separate from its general funds, or any extension or renewal, as a security deposit pursuant and Tenant shall not be entitled to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving interest on the Security Deposit. Subject to the last sentence of this Section, the Security Deposit shall be understood and agreed to be the property of Landlord upon Landlord's receipt thereof, and may be utilized by Landlord in its sole and absolute discretion towards the payment of all expenses by Landlord for which Tenant would be required to reimburse Landlord under this Lease, including without limitation brokerage commissions and Tenant Improvement costs. Upon any Event of Default by Tenant (as defined in Section 14.1), Landlord may, in its sole and absolute discretion, retain, use or apply the whole or any partial payment thereofpart of the Security Deposit to pay any sum which Tenant is obligated to pay under this Lease, sums that Landlord may expend or be required to expend by reason of the Event of Default by Tenant or any loss or damage that Landlord may suffer by reason of the Event of Default or costs incurred by Landlord in connection with the repair or restoration of the Premises pursuant to Section 15.3 of this Lease upon expiration or earlier termination of this Lease. The University acknowledges thatIn no event shall Landlord be obligated to apply the Security Deposit upon an Event of Default and Landlord's rights and remedies resulting from an Event of Default, subject including without limitation, Tenant's failure to damages prescribed pay Basic Rent, Tenant's Share of Operating Expenses or any other amount due to Landlord pursuant to this Lease, shall not be diminished or altered in any respect due to the fact that Landlord is holding the Security Deposit. If any portion of the Security Deposit is applied by lawLandlord as permitted by this Section, it shallTenant shall within five (5) days after written demand by Landlord deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount. If Tenant fully performs its obligations under this Lease, the Security Deposit shall be returned to Tenant (or, at Landlord's option, to the last assignee of Tenant's interest in this Lease) within thirty (30) days after the termination expiration of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessionsTerm, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.provided that

Security Deposit. Licensee shall pay «Monthly_Fee» (an a) Tenant has heretofore deposited with Landlord a passbook in the amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, of $500,000 as a security deposit pursuant for the faithful performance of Tenant's obligations under this Lease. Landlord agrees that it will, upon Tenant's request, surrender the passbook and assign Landlord's rights therein to Tenant upon delivery by Tenant to Landlord of a Letter of Credit issued by a federally chartered United States Bank in the face amount of $500,000, the form of which shall be subject to Landlord's reasonable approval. Tenant agrees that Landlord shall have the right, but not the obligation, to draw upon such Letter of Credit (i) to cure or remedy any default by Tenant under this Lease, including default of the payment of rent, if any such default is not cured by Tenant within any applicable grace or cure period set forth in this Lease, or (ii) if, at any time prior to the terms hereof; termination or expiration of the Lease Term, the issuing bank notifies Landlord that it being understood will not renew the Letter of Credit and Tenant fails within ten days after Landlord's written notice, to deposit with Landlord a substitute Letter of Credit in the same form and in the same face amount as the Letter of Credit previously deposited by Tenant with Landlord or, in lieu thereof, a cash security deposit in an amount equal to the then full face amount of the Letter of Credit which will not be renewed. The Letter of Credit, or cash security deposit, if not sooner drawn upon, shall be returned to Tenant within ten (10) days after the vacating of the premises by Tenant and termination of this Lease, provided that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor Landlord shall nevertheless have the right to draw upon the Letter of Credit or cash security deposit in such amounts as reasonably required for any damages be limited sustained by Landlord if (i) Tenant is then in default under any of the provisions of this Lease, or (ii) there is damage to the amount premises beyond ordinary wear and tear and the premises have not been left in a clean condition and in good order with all debris, rubbish and trash placed in proper containers. If Landlord draws upon the Letter of Credit and uses all, or any portion, of the proceeds thereof to cure any default by Tenant under this Lease, Tenant agrees to deposit with Landlord, within fifteen days after Landlord's written request, a cash sum in sufficient amount, which when added to any remaining proceeds from the Letter of Credit, will equal the full principal sum of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from in the commencement form of Licensee's occupancycash, Licensee Landlord shall be entitled to commingle the security deposit with its own funds, and Landlord shall not be required to pay Tenant any interest thereon. (b) Notwithstanding any of the provisions of paragraph (a) of this Section 33, if at the end of the first five years of the Lease term, Tenant has maintained a net worth of $80,000,000 or more on a sustained basis for a period of not less than one year (as evidenced by a CPA certification to Landlord with such reasonable backup financial statements as Landlord may require), the face amount of the Letter of Credit may be reduced to $96,000, provided (i) Tenant is not then in default under this Lease beyond any applicable cure or grace period and, (ii) if, at such time Tenant is a subsidiary or a parent corporation or is controlled by another corporation or other entity, the parent or controlling entity shall execute a Guaranty, in form reasonably satisfactory to Landlord, pursuant to which such entities unconditionally agree to pay all rental arrearages of Tenant and perform all other obligations of Tenant under this Lease if Tenant defaults in the payment or performance thereof. In the event the amount of the security deposit at Letter of Credit is reduced pursuant to this paragraph, Landlord agrees to execute such documents as the rate issuing bank may require in order to effectuate such reduction. (c) As relates to the provisions herein, every use of two percent (2%) per yearthe term "default" shall be limited to that meaning of the term set forth in section 12 of the Lease. Except as set forth in this Addendum, payable at all of the end terms and provisions of each year of Licensee's occupancythe Lease shall remain unchanged and in full force and effect. 12. The following new Section 37 is hereby inserted in the Lease:

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term Upon execution hereof, Tenant shall deposit with Landlord the sum of TWENTY THOUSAND SEVEN HUNDRED AND 00/XX DOLLARS ($20,700.00), in cash, which sum is the approximate equilvalent of two months’ Base Rent together with the estimated monthly share of operating expenses, electricity charges and Additional Rent, plus applicable sales tax thereon. The said sum represents security for the faithful performance and observance by Tenant of the terms, provisions and conditions of this Lease. It is agreed that in the event Tenant defaults in respect of any of the terms, provisions and conditions of this Lease, including, but not limited to, the payment of Annual Rent and additional rent, Landlord may use, apply or retain the whole or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security depositso deposited to the extent required for the payment of any rent and additional rent or any other sum as to which Tenant is in default or for any sum which landlord may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms, covenants and conditions of this Lease, including, but not limited to, any damages or deficiency in the reletting of the Premises, whether such damage occurred before or after summary proceedings or other re-entry by Landlord. The University In the event that Tenant shall furnish Licensee fully and faithfully comply with a separate receipt at all of the time terms, provisions, covenants and conditions of receiving this Lease, Landlord shall apply so much of the Security DepositDeposit that shall remain with Landlord, or any partial payment thereoftowards the Base Rent, operating expenses, and Additional Rent, plus applicable sales tax thereon, due for the last month of this Lease. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after At the termination of the License or upon Licensee's vacating Lease (including any extensions thereof), the premises completely together with all remaining balance of Licensee's goods and possessionsthe Security Deposit (if any), whichever shall last occurbut not any prepaid rents, return the security deposit or as tendered by Tenant, pursuant to this Paragraph, excluding any balance rent portion thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from returned to Tenant after the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable date fixed at the end of each year the Lease and after delivery of Licensee's occupancyentire possession of the Premises to Landlord. In the event of a sale of the Land and Building, of which the Premises form a part, Landlord shall have the right to transfer the security to the vendee, and Landlord shall thereupon be released by Tenant from all liability for the return of such security and Tenant agrees to look solely to the new Landlord for the return of said security. Tenant shall receive notice of any such sale and transfer of the Security Deposit. It is agreed that the provisions hereof shall apply to every transfer or assignment made of the security to a new Landlord. Tenant further covenants that it will not assign or encumber the moneys deposited herein as security and that neither Landlord nor its assigns shall be bound by any such assignment or encumbrance. Landlord shall not be required to keep the security in a segregated account and the security may be commingled with other funds of Landlord, and in no event shall Tenant be entitled to any interest on the security. The mortgagee holding a mortgage encumbering the Building shall not be responsible to Tenant for the security deposit in the event such mortgagee becomes the owner of the Building through foreclosure or by reason of a deed in lieu thereof. Tenant agrees not to look to any mortgagee or Purchaser at any foreclosure sale or Guarantee in a Deed given in lieu of foreclosure for the return of any Security Deposit given to Landlord unless Landlord has given such Deposit to any such entity, however, in such event, any amount of such security shall be credited to Tenant, pursuant to the Lease.

Security Deposit. Licensee shall pay «Monthly_Fee» 38.1 Tenant has deposited with Landlord the sum of $1,125,000.00 by check, subject to collection (or pursuant to section 38.2 hereof, a letter of credit therefor in such amount) as security for the full and punctual performance by Tenant of all of the terms of this lease. Landlord will deposit said security check in an amount not to exceed one month's License Fee) on interest bearing account and unless paid or before «Start_Date» applied for the use or rental of the Demised Premises upon default of Tenant as hereinafter provided, Landlord will deliver or cause to be held delivered to Tenant such interest as is allowed on said account annually upon Tenant's written request. If Tenant defaults in the performance of any of the terms of this lease, including the payment of rent, Landlord may use, apply or retain the whole or any part of the security so deposited to the extent required for the payment of any rent or for any sum which Landlord may expend or may be required to expend by reason of Tenant's default in respect of any of the University terms of this lease, including any damages or deficiency in the reletting of the Demised Premises, whether accruing before or after summary proceedings or other re-entry by Landlord. In the case of every such use, application or retention, Tenant shall, on demand, pay to Landlord the sum so used, applied or retained which shall be added to the security deposit so that the same shall be replenished to its former amount, and any failure by Tenant to pay such sum on demand shall constitute a default under this lease. If any bankruptcy, insolvency, reorganization or other creditor-debtor proceedings shall be instituted by or against Tenant, or its successors or assigns, or the Guarantor of this lease, if any, any security deposited with Landlord pursuant to this Section shall be deemed to be applied first to the payment of any rents and/or other charges due Landlord for all periods prior to the institution of such proceedings and the balance, if any, of such security deposited with Landlord may be retained by Landlord in partial liquidation of Landlord's damages. If Tenant shall fully and punctually comply with all of the terms of this lease and all rent, additional rent and other charges payable hereunder have been paid in full, the security, without interest, shall be returned to Tenant after the termination of this lease and delivery of exclusive possession of the Demised Premises to Landlord. In the event of a sale or lease of the Building, Landlord shall have the right to transfer the security to the vendee or lessee and Landlord shall upon such transfer be released by Tenant from all liability for the return of such security; and Tenant agrees to look solely to the new landlord for the return of said security; and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the security to a new landlord. Tenant shall not assign or encumber or attempt to assign or encumber the money deposited herein as security and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance or attempted assignment or encumbrance. (a) In lieu of the cash security deposit provided for in Section 38.1 hereof, Tenant may at any time during the term hereof deliver to Landlord and, shall, except as otherwise provided herein, maintain in effect at all times during the term hereof, or any extension or renewalan irrevocable letter of credit, as a security deposit pursuant in form and substance satisfactory to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to Landlord in the amount of the security depositrequired pursuant to this lease issued by a banking corporation satisfactory to Landlord and having its principal place of business or its duly licensed branch or agency in the State of New York. Such letter of credit shall have an expiration date no earlier than the first anniversary of the date of issuance thereof and shall be automatically renewable from year to year unless terminated by the issuer thereof by notice to Landlord given not less than forty-five (45) days prior to the expiration thereof. Except as otherwise provided herein, Tenant shall, throughout the term of this lease deliver to Landlord, in the event of the termination of any such letter of credit, replacement letters of credit in lieu thereof (each such letter of credit and such extensions or replacements thereof, as the case may be, is hereinafter referred to as a "Security Letter") no later than 45 days prior to the expiration date of the preceding Security Letter. The University term of each such Security Letter shall furnish Licensee with be not less than one year and shall be automatically renewable from year to year as aforesaid. If Tenant shall fail to obtain any replacement of a separate receipt at Security Letter within the time limits set forth in this Section 38.2(a), Landlord may draw down the full amount of receiving the existing Security Letter and retain the same as security hereunder. (b) In the event Tenant defaults in respect to any of the terms, provisions, covenants and conditions of this lease, including, but not limited to, the payment of fixed rent and additional rent, Landlord may use, apply or retain the whole or any part of the security so deposited to the extent required for the payment of any fixed rent and additional rent or any other sum as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant's default in respect of any of the terms, provisions, covenants, and conditions of this lease, including but not limited to, any damages or deficiency accrued before or after summary proceedings or other re-entry by Landlord. To insure that Landlord may utilize the security represented by the Security DepositLetter in the manner, for the purpose, and to the extent provided in this Article 38, each Security Letter shall provide that the full amount thereof may be drawn down by Landlord upon the presentation to the issuing bank of Landlord's draft drawn on the issuing bank without accompanying memoranda or statement of beneficiary. (c) In the event that Tenant defaults in respect of any of the terms, provisions, covenants and conditions of the lease and Landlord utilizes all or any part of the security represented by the Security Letter but does not terminate this lease as provided in Article 24 hereof, Landlord may, in addition to exercising its rights as provided in Section 38.2(b) hereof, retain the unapplied and unused balance of the principal amount of the Security Letter as security for the faithful performance and observance by Tenant thereafter of the terms, provisions, and conditions of this lease, and may use, apply, or retain the whole or any part of said balance to the extent required for payment of fixed rent, additional rent, or any partial payment thereof. The University acknowledges that, subject other sum as to damages prescribed which Tenant is in default or for any sum which Landlord may expend or be required to expend by law, it shall, within thirty (30) days after the termination reason of Tenant's default in respect of any of the License terms, covenants, and conditions of this lease. In the event Landlord applies or upon Licensee's vacating retains any portion or all of the premises completely together security delivered hereunder, Tenant shall forthwith restore the amount so applied or retained so that at all times the amount deposited shall be not less than the security required by Section 38.1. (d) In the event that Tenant shall fully and faithfully comply with all of Licensee's goods the terms, provisions, covenants and possessionsconditions of this lease, whichever shall last occur, return the security deposit or any balance thereof, shall be returned to Tenant after the date fixed as the end of the lease and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary delivery of entire possession of the Demised Premises to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case event of a sale of the Building or leasing of the Building, Landlord shall have the right to transfer any interest it may have in the Security Letter to the vendee or lessee and Landlord shall thereupon be released by Tenant from all liability for the return of such damageSecurity Letter, provided such vendee or lessee assumes any responsibilities of Landlord with respect to such Security Letter, and Tenant agrees to look solely to the University new landlord for the return of said Security Letter; and it is agreed that the provisions hereof shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn apply to by the University every transfer or its agent under pains and penalties of perjury, itemizing in precise detail the nature assignment made of the damages Security Letter to a new landlord. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as security and that neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. In the event of a sale of the repairs necessary Building Landlord shall have the right to correct itrequire Tenant to deliver a replacement Security Letter naming the new landlord as beneficiary and, and written evidence, such as estimates, bills, invoices or receipts, indicating if Tenant shall fail to timely deliver the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interestsame, to draw down the University's successor in interest for existing Security Letter and retain the benefit of Licensee. If the proceeds as security deposit hereunder until a replacement Security Letter is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancydelivered.

Security Deposit. Licensee Section 21.1. Tenant shall pay «Monthly_Fee» (an amount not be required to exceed one month's License Fee) on or before «Start_Date» to be held maintain with Landlord security for the faithful performance and observance by Tenant of the University during terms, provisions, covenants and conditions of this Lease, in the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to in the amount of $1,000,000.00 (the security deposit“Security Deposit”). The University Security Deposit shall furnish Licensee with be maintained in the form of a separate receipt letter of credit as set forth in Section 21.2 below. It is agreed that upon the occurrence and during the continuance of an Event of Default under this Lease, Landlord may use, apply or retain the whole or any part of the Security Deposit to the extent required for the payment of any such sum as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant’s Event of Default in respect of any of the terms, provisions, covenants, and conditions of this Lease, including but not limited to, any damages or deficiency accrued before or after summary proceedings or other re-entry by Landlord. If no Event of Default shall have occurred and be continuing at the time expiration of receiving the Term, the Security Deposit (or such portion thereof as shall then be remaining) shall be returned to Tenant after the date fixed as the end of the term of this Lease and after delivery of entire possession of the Premises to Landlord in the condition required hereunder. In the event of a sale of the Building or leasing of the Building, Landlord shall have the right to transfer the Security Deposit to the vendee or lessee and Landlord shall thereupon be released by Tenant from all liability for the return of such Security Deposit; and Tenant agrees to look solely to the new landlord for the return of said Security Deposit; and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the Security Deposit to a new landlord. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the Security Deposit and that neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. In the event Landlord applies or retains any portion or all of the Security Deposit, Tenant shall forthwith restore the amount so applied or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty retained so that at all times the amount deposited shall be as set forth above (30) days after which restoration shall be in the termination form of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused an amendment to the Premises by Licensee letter of credit increasing the Security Deposit to the required amount, or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case provision of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list a substitute letter of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing credit in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyrequired amount).

Security Deposit. Licensee Section 30.1 Tenant has deposited with Landlord the sum of [*]and [*]/100 Dollars ($[*]) with respect to the New Premises, together with the sum of [*] and [*]/100 Dollars ($[*]) currently held by Landlord with respect to the Existing Premises, constitute security for the full and faithful performance of every provision of this Lease to be performed by Tenant (all or any part of such amount, the “Security Deposit”). If an Event of Default shall pay «Monthly_Fee» have occurred with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of Fixed Rent and Additional Rent, Landlord may use, apply or retain all or any part of this Security Deposit for the payment of any Fixed or Additional Rent or any other sum in default or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of such Event of Default, or to compensate Landlord for any other loss, cost or damage which Landlord may suffer by reason of such Event of Default. Landlord shall give Tenant notice contemporaneously with such use or application of any portion of the Security Deposit. Tenant shall, within five (5) days after the giving of such notice, deposit with Landlord cash in an amount not sufficient to exceed one month's License Fee) on or before «Start_Date» restore the Security Deposit to be held by the University during the term hereof, or any extension or renewal, as a security deposit amount then required pursuant to the terms of this Article 30 (Tenant’s obligation to make such payment shall be deemed a requirement that Tenant pay an item of Additional Rent) and Tenant’s failure to do so shall be a breach of this Lease. Landlord shall not, unless otherwise required by Legal Requirements, pay interest to Tenant on the Security Deposit, and if Landlord is required to maintain the Security Deposit in an interest bearing account, Landlord will retain the maximum amount permitted under Legal Requirements as a bookkeeping and administrative charge. Tenant shall not assign or encumber any part of the Security Deposit, and no assignment or encumbrance by Tenant of all of any part of the Security Deposit shall be binding upon Landlord, whether made prior to, during, or after the Term. Landlord shall not be required to exhaust its remedies against Tenant or against the Security Deposit before having recourse to any other form of security held by Landlord and recourse by Landlord to any Security Deposit shall not affect any remedies of Landlord which are provided in this Lease or which are available to Landlord in law or in equity. If Tenant shall fully and faithfully perform every covenant and provision of this Lease to be performed and observed by Tenant, the Security Deposit or any balance thereof shall be returned to Tenant reasonably promptly after the expiration or sooner termination (other than a termination pursuant to Article 16 hereof) of the Term and Tenant’s surrender to Landlord of the Premises. In the event the Building is sold, Landlord shall transfer the Security Deposit to the new owner and Landlord shall thereupon be released by Tenant from all liability for the return of said Security Deposit; it being understood and Tenant agrees to look to the new owner solely for the return of the Security Deposit, A lease of the entire Building shall be deemed a transfer within the meaning of the foregoing sentence. Landlord shall use reasonable efforts to notify or cause Tenant to be notified in the event of any transfer of the Building. * CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. Section 30.2 In lieu of a cash deposit, Tenant may deliver to Landlord a clean, irrevocable, non-documentary and unconditional Letter of Credit issued by and drawn upon any commercial bank, trust company, national banking association or savings and loan association having offices for banking purposes in the City of New York and which is a member of the New York Clearinghouse Association (the “Issuing Bank”) and which (or the parent company of which) shall have outstanding unsecured, uninsured and unguaranteed indebtedness, or shall have issued a letter of credit or other credit facility that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEconstitutes the primary security for any outstanding indebtedness (which is otherwise uninsured and unguaranteed), nor that is then rated, without regard to qualification of such rating by symbols such as “+” or “-” or numerical notation, “Aa” or better by ▇▇▇▇▇’▇ Investors Service and “AA” or better by Standard & Poor’s Corporation, and has combined capital, surplus and undivided profits of not less than $500,000,000.00, which Letter of Credit shall any damages have a term of not less than one year, be limited in form and content satisfactory to Landlord (and substantially as shown on Exhibit D annexed hereto and made a part hereof), be for the account of Landlord, be in the amount of the security depositSecurity Deposit then required to be deposited hereunder, and be fully transferable by Landlord to successor owners of the Building without the payment of any fees or charges, it being agreed that if any such fees or charges shall be so imposed, then such fees or charges, shall be paid by Tenant. The University Letter of Credit shall furnish Licensee provide that it shall be deemed automatically renewed, without amendment, for consecutive periods of one year each thereafter during the term of this Lease, unless the Issuing Bank sends notice (the “Non-Renewal Notice”) to Landlord by certified mail, return receipt requested, not less than thirty (30) days next preceding the then expiration date of the Letter of Credit that it elects not to have such Letter of Credit renewed. Additionally, the Letter of Credit shall provide that Landlord shall have the right, exercisable within twenty (20) days of its receipt of the Non-Renewal Notice, by sight draft on the Issuing Bank, to receive the monies represented by the existing Letter of Credit and to hold such proceeds pursuant to the terms of this Section 30.2 as a cash security pending the replacement of such Letter of Credit. If an Event of Default shall have occurred and be continuing with a separate receipt at respect to any provision of this Lease, including but not limited to the time provisions relating to the payment of receiving Fixed Rent and Additional Rent, Landlord may apply or retain the Security Depositwhole or any part of the cash security so deposited or may notify the Issuing Bank and thereupon receive all the monies represented by the Letter of Credit and use, apply, or retain the whole or any partial payment thereofpart of such proceeds, as provided in this Section 30.2. The University acknowledges thatAny portion of the cash proceeds of the Letter of Credit not so used or applied by Landlord in satisfaction of the obligations of Tenant as to which such Event of Default shall have occurred shall be deposited by Landlord and retained in an interest-bearing account as provided in Section 30. 1. If Landlord applies or retains any part of the cash security or proceeds of the Letter of Credit, subject as the case may be, Tenant shall, within five (5) days after written demand therefor, deposit with Landlord the amount so applied or retained so that Landlord shall have the full Security Deposit required pursuant to damages prescribed by lawSection 30.1 hereof on hand at all times during the Term. If Tenant shall fully and faithfully comply with all of the terms, it shallprovisions, covenants and conditions of this Lease, the Letter of Credit shall be returned to Tenant after the Expiration Date and after delivery of possession of the Premises to Landlord. In the event of a sale of Landlord’s interest in the Premises, within thirty (30) days after of notice of such sale or leasing, Tenant, at Tenant’s sole cost and expense, shall arrange for the termination transfer of the License Letter of Credit to the new landlord, as designated by Landlord, or upon Licensee's vacating have the premises completely together with Letter of Credit reissued in the name of the new landlord and Landlord shall thereupon be released by Tenant from all liability for the return of Licensee's goods and possessionsthe Letter of Credit; provided, whichever however, that if the Letter of Credit is reissued, Landlord shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary original Letter of Credit issued in Landlord’s name to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyTenant.

Security Deposit. Licensee Upon execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) deposit with Landlord the sum of $ as security for the payment of the Rent due hereunder and the full and faithful performance by Tenant of the covenants and conditions on or before «Start_Date» the part of Tenant to be held performed. Said sum shall be returned to Tenant, without interest, after the expiration of the Term, provided that Tenant has fully and faithfully performed all such covenants and conditions and is not in arrears in Rent. Landlord may, if it so elects, have recourse to such security to make good any default by Tenant, in which event Tenant shall, on demand, promptly restore said security to its original amount. Liability to repay said security to Tenant shall run with the University during the term hereof, or any extension or renewal, as a security deposit pursuant land and title to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Demised Premises, the University whether any change in ownership thereof be by voluntary or involuntary alienation. Landlord shall assign or transfer the said security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of LicenseeTenant, to any subsequent owner or holder of the reversion or title to the Demised Premises, in which case such assignee or transferee shall become liable for the repayment thereof as herein provided, and the assignor or transferor shall be deemed to be released by Tenant from all liability to return such security. If This provision shall be applicable to every alienation or change in title and shall in no way be deemed to permit Landlord to retain the security deposit after termination of Landlord’s ownership of the reversion or title. Tenant shall not mortgage, encumber or assign said security. Anything herein contained to the contrary notwithstanding, it is held for one year expressly understood and agreed that the Security Deposit shall not bear interest. Tenant covenants and agrees that it will not assign, pledge, hypothecate, mortgage or longer from otherwise encumber the commencement aforementioned Security Deposit during the Term of Licensee's occupancythis Lease, Licensee and any attempt to do so shall be entitled void as the Landlord. It is expressly understood and agreed that the Landlord shall have the right to interest on co-mingle the amount of Security Deposit with its general funds and the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySecurity Deposit shall not be required to be segregated.

Security Deposit. Licensee Tenant shall pay «Monthly_Fee» deliver to Landlord within fourteen (14) days after the Date of Lease Execution , an amount not to exceed one month's License Feeunconditional, clean, irrevocable, fully assignable standby letter of credit (the “L-C”) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to in the amount of the security depositSecurity Deposit Amount (the “Security Deposit”), which L-C shall be issued by a commercial bank which is reasonably acceptable to Landlord, and which L-C may be presented for payment in a location reasonably acceptable to Landlord. The University L-C shall furnish Licensee be in form and content reasonably acceptable to Landlord and for a term of not less than one (1) year. Tenant shall pay all expenses, points and/or fees associated with a separate receipt at obtaining the time L-C. The L-C shall be held by Landlord as security for the faithful performance by Tenant of receiving all the Security Depositterms, covenants, and conditions of this Lease to be kept and performed by Tenant during the Lease Term. If an Event of Default shall exist with respect to any provisions of this Lease, including, but not limited to, the provisions relating to the payment of rent, or any partial payment thereof. The University acknowledges that, subject if Tenant fails to damages prescribed by law, it shall, within renew the L-C at least thirty (30) days after the termination before its expiration, Landlord may, but shall not be required to, draw upon all or any portion of the License L-C for payment of any rent or any other sum in default, or for the payment of any amount that Landlord may spend or may become obligated to spend by reason of Tenant’s default; or to compensate Landlord for any other loss, cost or damage that Landlord may suffer by reason of Tenant’s default. The use, application or retention of the L-C, or any portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law. The parties agree that Landlord shall not first be required to proceed against the L-C and the L-C shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. Any amount of the L-C which is drawn upon Licensee's vacating the premises completely together with all of Licensee's goods by Landlord, but is not used or applied by Landlord, shall be held by Landlord (and possessions, whichever shall last occur, return the need not be segregated in a separate account) and deemed a security deposit (the “L-C Security Deposit”). If any portion of the L-C is drawn upon, Tenant shall, within five (5) business days after written demand therefor, reinstate the L-C to the amount then required under this Lease, and Tenant’s failure to do so shall be an Event of Default under this Lease. Upon ▇▇▇▇▇▇’s reinstatement of the L-C to the amount required under this Lease, Landlord shall promptly return to Tenant the amount of Landlord’s draw on the L-C, but only to the extent Landlord has not used or is not entitled to retain the amount drawn in accordance with this Section. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the L-C Security Deposit and/or the L-C, or any balance thereof, and any interest thereon, if due, after deducting shall be returned to Tenant within sixty (160) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to days following the later of the expiration of the Term or the vacating of the Premises by Licensee or ▇▇▇▇▇▇. Upon any person conveyance by Landlord of its interest under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damagethis Lease, the University L-C may be assigned by Landlord to Landlord’s grantee or transferee and the L-C Security Deposit may be delivered by Landlord’s grantee or transferee. Upon any such assignment or delivery, Tenant hereby releases Landlord herein named of and from any and all liability with respect to the L-C and L-C Security Deposit, its and their application and return, and ▇▇▇▇▇▇ agrees to look solely to such grantee or transferee. This provision shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn also apply to subsequent grantees and transferees. Tenant shall pay as additional rent any transfer fees charged by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature issuer of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.L-C.

Security Deposit. Licensee shall pay «Monthly_Fee» Notwithstanding any other provision of this Installment Purchase Contract, the District may secure the payment of (i) all or a portion of the Installment Payments by a deposit with the Bank or, at the Bank’s sole option, a bank or trust company acceptable to the Bank, as escrow holder under an escrow deposit and trust agreement, of either (i) cash in an amount not which is sufficient to exceed one month's License Fee) on or before «Start_Date» to be held by pay such unpaid Installment Payments, including the University during principal and interest components thereof, in accordance with the term hereofInstallment Payment schedule set forth in Exhibit B attached hereto, or any extension (ii) non-callable Federal Securities or renewalpre-refunded non-callable municipal obligations rated “AA” and “Aa” by S&P and Moody’s, respectively, together with cash if required, in such amount as a security deposit pursuant will, without re-investment, in the opinion of an independent certified public accountant (which opinion shall be addressed to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEBank), nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest to accrue thereon, if due, after deducting (1) Any be fully sufficient to pay such unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or Installment Payments on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedtheir payment dates so that such Installment Payments shall be defeased. In the case event of such damageany shortfall, the University District shall provide deposit from legally available funds such amounts as is necessary to make up such shortfall. In all cases, deposits of cash or Federal Securities made to secure the LicenseeInstallment Payments pursuant to this paragraph shall be kept in segregated escrow accounts or escrow subaccounts and such deposits shall not be commingled for any reason. In the event of deposits pursuant to this Section 6.03 sufficient to fully defease all of the Installment Payments, within thirty (30) days, with an itemized list of damages, sworn to and provided that all other amounts payable by the University or its agent under pains and penalties of perjuryDistrict hereunder have been paid in full, itemizing in precise detail the nature all obligations of the damages District under this Installment Purchase Contract shall cease and terminate, excepting only the obligation of the repairs necessary District to correct itmake, or cause to be made, all Installment Payments from the deposits made by District pursuant to this Section 6.03 and the obligation to pay amounts due the Bank, as assignee of the Corporation. Said deposits shall be deemed to be and each of the deposits shall constitute a separate special fund that may be used solely for the payment of the Installment Payments in accordance with the provisions of this Installment Purchase Contract, and written evidence, pending such as estimates, bills, invoices application shall be held in trust and pledged to and for the sole benefit of the Bank and any assignee or receipts, indicating transferee of the actual estimated costs thereofBank. The University shall submit District hereby grants to Licensee a separate written statement the Bank, as assignee of the present condition of the Premises. If the Licensee disagrees with the University's statement of conditionCorporation, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the first priority security deposit for any damage which was listed in the statement of condition or interest in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyamounts so deposited.

Security Deposit. Licensee 40.1 On the respective dates specified in the Fundamental Lease Provisions, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to deposit with Landlord the two installments of the Security Deposit in the amounts specified in the Fundamental Lease Provisions which shall be held by Landlord as security for the University during faithful performance and observance by Tenant of the term hereofterms, or any extension or renewalconditions and provisions of this Lease, including without limitation, the surrender of possession of the Premises to Landlord as herein provided. Failure by Tenant to deposit the Security Deposits in two installments on the dates specified in the Fundamental Lease Provisions shall be deemed a security deposit material breach of this Lease. The Security Deposit shall be in the form of U.S. dollars or, at Tenant’s election, a letter of credit issued on the account of Tenant by a New York Clearinghouse member bank. If the Security Deposit is in the form of U.S. dollars, the same shall be deposited by Landlord in an account designated by Landlord. The letter of credit and the issuer bank must be reasonably acceptable to Landlord in all material respects and the letter of credit must provide for partial draws and that the same may be drawn upon by Landlord pursuant to the terms hereof; it being understood provisions of this Section. It is agreed that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEin the event Tenant defaults in respect of any of the terms, nor shall provisions and conditions of this Lease, including, but not limited to, the payment of Base Rent or Additional Rent, then while there exists an Event of Default hereunder Landlord may apply or retain the whole or any damages be limited part of the Security Deposit so deposited to the amount extent required for the payment of any Base Rent and Additional Rent or any other sum as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant’s default in respect of any of the security depositterms, covenants and conditions of this Lease. The University shall furnish Licensee with a separate receipt at the time If Landlord applies or retains any part of receiving the Security DepositDeposit so deposited, Tenant, upon demand, shall deposit with Landlord the amount so applied or any partial payment thereofretained so that Landlord shall have the full Security Deposit on hand at all times during the Term. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together If Tenant shall fully and faithfully comply with all of Licensee's goods the terms, provisions, covenants and possessionsconditions of this Lease, whichever the Security Deposit shall last occur, return be returned to Tenant promptly after the security deposit or any balance thereof, Expiration Date and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to delivery of the entire possession of the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case event of such damagea sale of the Land or the Building or leasing of the Building, Landlord shall have the right to transfer, at Tenant’s expense, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement Security Deposit to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement vendee or lessee, whereupon and upon acknowledgement of condition receipt by such vendee or in any separate list submitted by Licensee and approved by the University lessee to or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancyTenant, Licensee Landlord shall be entitled to interest on released by Tenant from all liability for the amount return of the security deposit at Security Deposit; and Tenant shall look solely to the rate new landlord for the return of two percent (2%) per year, payable at the end Security Deposit; it being agreed that the provisions hereof shall apply to every transfer or assignment made of each year of Licensee's occupancythe Security Deposit to a new landlord. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the Security Deposit and that neither Landlord nor its successors or assigns shall be bound by any such assignment or encumbrance.

Security Deposit. Licensee shall pay «Monthly_Fee» NONE REQUIRED Tenant hereby deposits with Landlord the sum of the Security Deposit specified in Paragraph 1 hereof (an amount hereinafter referred to as "Collateral"), as security for the prompt, full and faithful performance by Tenant of each and every provision of this Lease and of all obligations of Tenant hereunder. A. If Tenant fails to perform any of its obligations hereunder, Landlord may use, apply or retain the whole or any part of the Collateral for the payment of (i) any Rent or other sums of money which Tenant may not have paid when due, (ii) any sum expended by Landlord on Tenant's behalf in accordance with the provisions of this Lease, and/or (iii) any sum which Landlord may expend or be required to exceed one monthexpend by reason of Tenant's License Fee) on default, including, without limitation, any damage or before «Start_Date» to be held by deficiency in or from the University during reletting of the term hereofPremises as provided in Paragraph 24. The use, application or retention of the Collateral, or any extension portion thereof, by Landlord shall not prevent Landlord from exercising any other right or renewal, remedy provided by this Lease or by law (it being intended that Landlord shall not first be required to proceed against the Collateral) and shall not operate as a security deposit pursuant limitation on any recovery to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall which Landlord may otherwise be entitled. If any damages be limited to the amount portion of the security deposit. The University shall furnish Licensee with a separate receipt at Collateral is used, applied or retained by Landlord for the time of receiving the Security Depositpurposes set forth above, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shallTenant agrees, within thirty ten (3010) days after written demand therefor is made by Landlord, to deposit cash with Landlord in an amount sufficient to restore the termination of the License or upon Licensee's vacating the premises completely together Collateral to its original amount. B. If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Lease, whichever shall last occurthe Collateral, return the security deposit or any balance thereof, and shall be returned to Tenant without interest after the expiration of the Term or upon any interest thereon, if due, later date after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to which Tenant has vacated the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedPremises. In the case absence of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list evidence satisfactory to Landlord of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature any permitted assignment of the damages and right to receive the Collateral, or of the repairs necessary remaining balance thereof, Landlord may return the same to correct itthe named Tenant herein regardless of one or more assignments of Tenant's interest in this Lease or the Collateral. In such event, and written evidence, such as estimates, bills, invoices or receipts, indicating upon the actual estimated costs thereof. The University shall submit to Licensee a separate written statement return of the present condition Collateral, or the remaining balance thereof to the named Tenant, Landlord shall be completely relieved of liability under this Paragraph 27 or otherwise with respect to the Premises. If Collateral. C. Tenant acknowledges that Landlord has the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing right to transfer or mortgage its interest in the Premises and return the statement Building and in this Lease and Tenant agrees that in the event of any such transfer or mortgage, Landlord shall have the right to transfer or assign the Collateral to the Universitytransferee or mortgagee. No amount Upon such transfer or assignment, Landlord shall thereby be deducted released by Tenant from the security deposit for any damage which was listed in the statement of condition all liability or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest obligation for the benefit return of Licensee. If such Collateral and Tenant shall look solely to such transferee or mortgagee for the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount return of the security deposit at Collateral, such transferee or mortgagee having no greater obligations in respect of the rate of two percent (2%) per year, payable at Collateral than the end of each year of Licensee's occupancyLandlord had.

Security Deposit. Licensee Concurrently with ▇▇▇▇▇▇’s execution and delivery of this Lease to Landlord, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving Landlord the Security Deposit, if any, designated in the Summary. The Security Deposit shall be held by Landlord as security for the full and faithful performance by Tenant of all of the terms, covenants and conditions of this Lease to be performed by Tenant during the Term. If Tenant defaults beyond the expiration of any applicable notice and cure periods with respect to any of its obligations under this Lease, Landlord may (but shall not be required to) use, apply or retain all or any partial part of the Security Deposit for the payment thereofof any Monthly Base Rent, Additional Rent or any other sum in default, or for the payment of any other amount, loss or damage which Landlord may spend, incur or suffer by reason of Tenant’s default. The University acknowledges thatIf any portion of the Security Deposit is so used or applied, subject to damages prescribed by law, it Tenant shall, within ten (10) days after demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount. Landlord shall not be required to keep the Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on the Security Deposit. If Tenant shall not be in default beyond applicable notice and cure periods, the Security Deposit or any balance thereof shall be returned to Tenant within thirty (30) days after following the termination expiration of the License Term, provided that Landlord may retain the Security Deposit until such time as any amount due from Tenant in accordance with this Lease has been determined and paid in full. If Landlord sells its interest in the Building during the Term and if Landlord deposits with or credits to the purchaser the Security Deposit (or balance thereof), then, upon Licensee's vacating such sale, Landlord shall be discharged from any further liability with respect to the premises completely together with all Security Deposit. Tenant hereby waives the provisions of Licensee's goods and possessions, whichever shall last occur, return Section 1950.7 of the California Civil Code to the extent such law (i) establishes the time frame by which a landlord must refund a security deposit under a lease, or any balance thereof, and any interest thereon, if due, after deducting (1ii) Any unpaid License fees; (2) A reasonable amount provides that a landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair any damage caused by a tenant, or to clean the subject premises. Notwithstanding the foregoing, provided Tenant is not then in default beyond any applicable notice and cure periods and has not previously been in default beyond any applicable notice and cure periods under this Lease at any prior to the Premises by Licensee or any person under Licensee's control or last day of the thirty-sixth (36th) full calendar month of the initial Term, on the Premises with Licensee's consentfirst (1st) day of the thirty- seventh (37th) full calendar month of the initial Term (the “First Adjustment Date”), reasonable wear Landlord shall apply $118,223.58 of the Security Deposit against the Monthly Base Rent (for both the Office and tear excludedWarehouse space) then payable by Tenant for the thirty-seventh (37th) full calendar month of the initial Term. Furthermore, but failure provided Tenant is not then in default beyond any applicable notice and cure periods and has not previously been in default beyond any applicable notice and cure periods under this Lease at any prior to clean includedthe last day of the forty-eighth (48th) full calendar month of the initial Term, on the first (1st) day of the forty-ninth (49th) full calendar month of the initial Term (the “Second Adjustment Date”), Landlord shall apply $118,223.58 of the Security Deposit against the Monthly Base Rent (for both the Office and Warehouse space) then payable by Tenant for the forty-ninth (49th) full calendar month of the initial Term. In There shall be no reduction in the Security Deposit if Tenant is in default beyond any applicable notice and cure periods as of the applicable adjustment date set forth herein, or if Tenant has been in default beyond any applicable notice and cure periods under this Lease at any time prior to the First Adjustment Date of the Second Adjustment Date, as the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancymay be.

Security Deposit. Licensee Tenant shall pay «Monthly_Fee» deposit with Landlord the U.S. cash sum of $25,000.00 (an amount the "Security Deposit") upon execution of this Lease, as security for the prompt, full and faithful performance by Tenant of each and every provision of this Lease and of all obligations of Tenant hereunder. (i) If Tenant fails to perform any of its obligations hereunder, Landlord may use, apply or retain the whole or any part of the Security Deposit for the payment of (1) any Rent, Additional Charges or other sums of money which Tenant may not to exceed one monthhave paid when due, (2) any sum expended by Landlord on Tenant's License Fee) on or before «Start_Date» to be held by behalf in accordance with the University during the term hereofprovisions of this Lease, or (3) any extension sum which Landlord may expend or renewalbe required to expend by reason of Tenant's default or any loss or damage which Landlord may suffer or incur, as a security deposit pursuant to including, without limitation, any damage or deficiency in or from the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount reletting of the security deposit. Premises as provided in Section 20.C. The University shall furnish Licensee with a separate receipt at the time use, application or retention of receiving the Security Deposit, or any partial payment portion thereof. The University acknowledges that, subject by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law (it being intended that Landlord shall not first be required to damages prescribed proceed against the Security Deposit) and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. (ii) If any portion of the Security Deposit is used, applied or retained by lawLandlord for the purposes as set forth above, it shallTenant agrees, within thirty ten (3010) days after the termination of written demand therefor is made by Landlord, to deposit cash with Landlord in an amount sufficient to restore the License or upon Licensee's vacating the premises completely together Security Deposit to its original amount. (i) If Tenant shall fully and faithfully comply with all of Licensee's goods and possessionsthe provisions of this Lease, whichever shall last occurthe Security Deposit, return the security deposit or any balance thereof, and shall be returned to Tenant without interest after the expiration of the Term or upon any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to later date on which Tenant has vacated the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedPremises. In the case absence of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list evidence satisfactory to Landlord of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature any permitted assignment of the damages and right to receive the Security Deposit, or of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any remaining balance thereof, and any accrued interest, Landlord may return the same to the Universityoriginal Tenant, regardless of one or more assignments of Tenant's successor interest in interest for this Lease or the benefit Security Deposit. In such event, upon the return of Licensee. If the security deposit is held for one year Security Deposit, or longer from the commencement of Licensee's occupancyremaining balance thereof to the original Tenant, Licensee Landlord shall be entitled completely relieved of liability under this Section 22 or otherwise with respect to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySecurity Deposit.

Security Deposit. (a) Licensee has deposited with City the sum of Twelve Thousand Five Hundred dollars ($12,500) as a security deposit ("Security Deposit"), for the full, faithful and prompt performance of and compliance with all the terms and conditions of this license. The Security Deposit shall pay «Monthly_Fee» consist of cash or a negotiable instrument payable to bearer or the City of New York which the Comptroller shall approve as being of equal market value with the sum so required. The Security Deposit shall remain with the City throughout the Term of this license. Until the Security Deposit is established, as described above, Parks shall retain Licensee's Bid Deposit. (an amount not to exceed one month's License Feeb) on or before «Start_Date» to The Security Deposit shall be held by the University during City without liability for interest thereon, as security for the full and faithful performance by the Licensee of each and every term hereofand condition of this license on the part of the Licensee to be observed and performed. The Licensee may collect or receive annually any interest or income earned on bonds less any part thereof or amount which the City is or may hereafter be entitled or authorized by law to retain or to charge in connection therewith, whether as or in lieu of administrative expense or custodial charge, or otherwise the City shall not be obligated by this provision to place or to keep cash deposited hereunder in interest-bearing bank accounts. (c) Use and Return of Deposit If any extension fees or renewal, as a security deposit pursuant other charges or sums payable by Licensee to the City shall be overdue and unpaid or should the City make payments on behalf of the Licensee, or should the Licensee fail to perform any of the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEof this License, nor then Parks may, at its option, and without prejudice to any other remedy which the City may have on account thereof, after five (5) days written notice, appropriate and apply the Security Deposit or as much thereof as may be necessary to compensate the City toward the payment of license fees, charges, liquidated damages or other sums due from the Licensee or towards any loss, damage or expense sustained by the City resulting from such default on the part of Licensee. In such event, the Licensee shall any damages be limited restore the Security Deposit to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, original sum deposited within thirty five (305) days after written demand therefor. In the termination of the License or upon Licensee's vacating the premises completely together event Licensee shall fully and faithfully comply with all of Licensee's goods the terms, covenants and possessions, whichever shall last occur, return the security deposit or any balance thereof, conditions of this license and any interest thereon, if due, after deducting (1) Any unpaid pay all License fees; (2) A reasonable amount necessary to repair any damage caused fees and other charges and sums payable by Licensee to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damageCity, the University Security Deposit shall provide be returned to Licensee following the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature date of the damages and surrender of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Licensed Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under in compliance with the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit provisions of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancythis license.

Security Deposit. Licensee shall pay «Monthly_Fee» Within seven (an amount not to exceed one month's License Fee7) on or before «Start_Date» to be held days after full execution and delivery of this Lease by the University during the term hereofparties hereto, or any extension or renewal, as a security Tenant shall deposit pursuant with Landlord an irrevocable standby letter of credit in form and substance satisfactory to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to Landlord in the amount of $650,000.00 (the "Security Deposit") as security depositfor the faithful performance and observance by Tenant of the terms, provisions and conditions of this Lease. The University It is agreed that in the event Tenant defaults in respect of any of the terms, provisions and conditions of this Lease, Landlord may use, apply or retain the whole or any part of the Security Deposit to the extent required for payment of any Rent or any other sum as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant's default in respect of any of the terms, covenants and conditions of this Lease, including but not limited to any damage or deficiency accrued before or after summary proceedings or other reentry by Landlord, including the costs of such proceeding or reentry and further including, without limitation, reasonable attorney's fees. It is agreed that Landlord shall furnish Licensee with a separate receipt at always have the time of receiving right to apply the Security Deposit, or any partial payment part thereof, as aforesaid, without notice and without prejudice to any other remedy or remedies which Landlord may have, or Landlord may pursue any other such remedy or remedies in lieu of applying the Security Deposit or any part thereof. The University acknowledges thatNo interest shall be payable on the Security Deposit. If Landlord shall use, subject apply or retain the Security Deposit in whole or in part and the Lease continues or Tenant's occupancy continues in the Premises, Tenant shall within ten (10) days after written notice form the Landlord make such further or other deposit of monies as may be necessary to damages prescribed by lawbring the balance of the deposit to a sum equal to the initial Security Deposit. In the event that Tenant shall fully and faithfully comply with all of the terms, it shallprovisions, covenants and conditions of this Lease, the Security Deposit shall be returned to Tenant within thirty ninety (3090) days after the termination date fixed as the end of the License or upon Licensee's vacating the premises completely together with all Lease and after delivery of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to entire possession of the Premises by Licensee or any person under Licensee's control or on to Landlord in accordance with the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedterms of this Lease. In the case event of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University a sale or its agent under pains and penalties of perjury, itemizing in precise detail the nature other transfer of the damages and Building, or leasing of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in entire Building including the Premises and return the statement subject to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the UniversityTenant's agenttenancy hereunder, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University Landlord shall transfer the security deposit or any balance thereof, and any accrued interest, Security Deposit then remaining to the University's successor in interest vendee or lessee and Landlord shall thereupon be released from all liability for the benefit return of Licenseesuch Security Deposit to Tenant; and Tenant agrees to look solely to the new Landlord for the return of said Security Deposit then remaining. If The holder of any mortgage upon the security deposit is held Building or Lot shall never be responsible to Tenant for one year the Security Deposit or longer from its application or return unless the commencement of Licensee's occupancy, Licensee Security Deposit shall actually have been received in hand by such holder. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the Security Deposit and that neither Landlord nor its successors or assigns shall be entitled to interest on bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. Notwithstanding the foregoing, in the event that Tenant, during the term of this Lease, raises in excess of $25,000,000.00 in equity capital, the amount of the security deposit at Security Deposit required hereunder shall be reduced to $325,000.00, and in the rate event that Tenant, during the term of two percent (2%) per yearthis Lease, payable at raises in excess of $50,000,000.00 in equity capital, then Landlord agrees to return the end unused portion of each year the Security Deposit to Tenant. Landlord agrees to notify Tenant in the event that Landlord intends to draw upon the Security Deposit, but the giving of Licenseesuch notice shall not be a precondition to the exercise of Landlord's occupancyrights to draw upon the Security Deposit.

Security Deposit. Licensee SECTION 23.1. Tenant hereby deposits with Landlord and shall maintain at all times on deposit with Landlord and keep whole and unencumbered the sum of Eight Hundred and eighty-five Dollars ($885.00), the receipt of which is hereby acknowledged, as security for the faithful performance by Tenant of every term and condition of this lease, it being expressly understood and agreed that Tenant may not direct Landlord to apply said security in payment of rent for any month during the lease term and Tenant shall pay «Monthly_Fee» (an amount not rent for the last month of the lease term. If there shall be a default by Tenant in respect of any term or condition of this lease, Landlord may use all or any part of the security to exceed one month's License Fee) on or before «Start_Date» to be held by perform same for the University during the term hereofaccount of Tenant, or for any extension damages or renewaldeficiency, as a whether such damages or default occur before or after summary proceedings or re-entry by Landlord. Landlord shall not be required so to use, apply or retain the whole or any part of said security deposit nor shall the provisions herein contained limit the rights of Landlord pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor of Article XVI of this lease. If Tenant shall any damages be limited to the amount fully and faithfully comply with all of the security deposit. The University shall furnish Licensee with a separate receipt provisions of this lease, including the provisions contained in Article XVII hereof at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessionsthis lease, whichever shall last occur, return the then said security deposit or any balance thereof, and any thereof remaining shall be repaid to Tenant within a reasonable time. It is understood that no interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary on said security will be paid by Landlord to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedTenant. In the event of any sale, transfer or assignment of the Landlord's interest under this lease, Landlord may transfer or assign said security to the vendee, transferee or assignee, as the case may be, and Landlord thereupon shall be released from all liability for the repayment of said security, and Tenant, in each instance, shall look solely to such transferee for repayment of said security. The provisions hereof shall apply to each such sale, transfer or assignment and each such transfer or assignment of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancysecurity.

Security Deposit. Licensee Lessee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University deposit with Lessor and maintain during the term hereof, or any extension or renewal, Term the cash sum of Thirty Thousand and 00/100 Dollars ($30,000.00) as a security deposit pursuant (the “Security Deposit”) which Lessor shall hold as security for the full and faithful performance by Lessee of every term, provision, obligation and covenant under this Lease and subject to the terms hereof; it being understood and conditions of this Lease. The Security Deposit shall be paid to Lessor on the Commencement Date. The Security Deposit may be deposited by Lessor into an interest-bearing account, which interest shall accrue for the sole benefit of Lessor and not Lessee. The Security Deposit shall not be considered an advance payment of Rent (or of any other sum payable by Lessee under this Lease) or a measure of Lessor’s damages in case of a default by Lessee. Lessor shall have no obligation to maintain the Security Deposit separate and apart from Lessor’s general and/or other funds. If Lessee defaults in respect of any of the terms, provisions, covenants and conditions of this Lease HNZW/493108_4.doc (Pavilion Care) (or if there is a default under any agreement or instrument with which this Lease is cross-defaulted), Lessor may, but shall not be required to, in addition to and not in lieu of any other rights and remedies available to Lessor, apply all or any part of the Security Deposit to the payment of any sum in default, or any other sum that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEELessor may expend or be required to expend by reason of Lessee’s default, nor shall including but not limited to, any damages be limited or deficiency in reletting the Premises. Whenever, and as often as, Lessor has applied any portion of the Security Deposit to cure Lessee’s default hereunder or under any agreement with which this Lease is cross-defaulted, Lessee shall, within ten (10) days after Notice from Lessor, deposit additional money with Lessor sufficient to restore the Security Deposit to the full amount then required to be deposited with Lessor, and Lessee’s failure to do so shall constitute an Event of Default without any further Notice. If Lessor transfers or assigns its interest under this Lease, Lessor shall assign the security deposit. The University Security Deposit to the new Lessor and thereafter Lessor shall furnish Licensee with a separate receipt at have no further liability for the time return of receiving the Security Deposit, and Lessee agrees to look solely to the new Lessor for the return of the Security Deposit. Lessee agrees that it will not assign or encumber or attempt to assign or encumber the Security Deposit and that Lessor, its successors and assigns may return the Security Deposit to the last Lessee in possession of the Premises at the last address for which Notice has given by such Lessee and that Lessor thereafter shall be relieved of any liability therefor, regardless of one or more assignments of this Lease or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination such actual or attempted assignment or encumbrances of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancySecurity Deposit.

Security Deposit. Licensee 11.1 Simultaneously with ▇▇▇▇▇▇’s execution of this Lease, Tenant shall pay «Monthly_Fee» deposit with Landlord the Security Deposit Amount (an amount not to exceed one month's License Feeas defined in Section 1.10) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as a security deposit pursuant which shall be security for the performance by Tenant of all of Tenant’s obligations, covenants, conditions and agreements under this Lease. Landlord shall not be required to maintain such security deposit in a separate account. Except as may be required by law, Tenant shall not be entitled to interest on the security deposit. Within approximately forty-five (45) days after the later of the expiration or earlier termination of the Lease Term or Tenant’s vacating the Premises, Landlord shall return such security deposit to Tenant, less such portion thereof as Landlord shall have appropriated to satisfy any of Tenant’s obligations, or any default by Tenant, under this Lease. If there shall be any Event of Default, then Landlord shall have the right, but shall not be obligated, to use, apply or retain all or any portion of the security deposit for the payment of any (a) Base Rent, additional rent or any other sum as to which an Event of Default exists, or (b) amount Landlord may spend or become obligated to spend, or for the compensation of Landlord for any losses incurred, by reason of an Event of Default (including, but not limited to, any damage or deficiency arising in connection with the reletting of the Premises). If any portion of the security deposit is so used or applied, then within three (3) business days after Landlord gives written notice to Tenant of such use or application, Tenant shall deposit with Landlord cash in an amount sufficient to restore the security deposit to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEoriginal Security Deposit Amount, nor and ▇▇▇▇▇▇’s failure to do so shall constitute an Event of Default under this Lease. 11.2 If Landlord transfers the security deposit to any damages be limited purchaser or other transferee of Landlord’s interest in the Building, then Tenant shall look only to such purchaser or transferee for the amount return of the security deposit, and Landlord shall be released from all liability to Tenant for the return of such security deposit. The University Tenant acknowledges that the holder of any Mortgage shall furnish Licensee with a separate receipt at not be liable for the time return of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit made by ▇▇▇▇▇▇ hereunder unless such holder actually receives such security deposit. Tenant shall not pledge, mortgage, assign or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancytherein.

Security Deposit. Licensee On the execution of this Lease, Tenant shall deliver to Landlord as security for the performance of the obligations of Tenant hereunder, a letter of credit (as renewed, replaced, and/or increased pursuant to this Lease, and all proceeds thereof, the "Letter of Credit") in the initial amount specified therefor in Section 1.1, subject to adjustment as set forth below, in accordance with this Section (as renewed, replaced, and/or increased pursuant to this Lease, and all proceeds thereof, the "Security Deposit"). Tenant's failure to timely deliver the Security Deposit to Landlord shall constitute a default under this Lease, without any notice or cure period under Article VIII. The Letter of Credit (i) shall be irrevocable and shall be issued by a commercial bank reasonably acceptable to Landlord that has an office in Boston, Massachusetts, (ii) shall require only the presentation to the issuer of a certificate of the holder of the Letter of Credit stating that either a default has occurred under this Lease after the expiration of any applicable notice and cure period (or that Tenant has failed to timely pay «Monthly_Fee» rent or is otherwise in default under the Lease and transmittal of a default notice is barred by applicable law) or that Tenant has become the subject of a bankruptcy, insolvency or similar proceeding, (iii) shall be payable to Landlord or its successors in interest as the Landlord and shall be freely transferable without cost to any such successor or any lender holding a collateral assignment of Landlord's interest in the Lease, (iv) shall be for an amount initial term of not less than one year and contain a provision that such term shall be automatically renewed for successive one- year periods unless the issuer shall, at least 45 days prior to exceed one month's License Feethe scheduled expiration date, give Landlord written notice of such nonrenewal, and (v) on or before «Start_Date» shall otherwise be in form and substance reasonably acceptable to be held by Landlord. Notwithstanding the University during foregoing, the term hereofof the Letter of Credit for the final period shall be for a term ending not earlier than the date sixty (60) days after the last day of the Term or, if applicable, any Extension Term. Landlord shall be entitled to draw upon the Security Deposit for its full amount (i) if Tenant shall be in default under the Lease, after the expiration of any applicable notice or cure period (or if Tenant has failed to timely pay rent or is otherwise in default under the Lease and transmittal of a default notice is barred by applicable law), or any extension (ii) in the case of the Letter of Credit if, not less than 30 days before the scheduled expiration of the Letter of Credit, Tenant has not delivered to Landlord a new Letter of Credit in accordance with this Section (which failure shall be deemed a default without notice or renewalcure period). All amounts so drawn shall be the exclusive property of Landlord and Landlord may, as a security deposit pursuant but shall not be obligated to, apply the amount so drawn to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEextent necessary to cure Tenant's default under the Lease. The Security Deposit may be commingled with other funds of Landlord and shall not constitute an asset of Tenant, and no fiduciary relationship shall be created with respect to such deposit, nor shall Landlord be liable to pay Tenant interest thereon. If Tenant shall fail to perform any damages of its obligations under this Lease, Landlord may, but shall not be limited obliged to, apply the Security Deposit to the amount extent necessary to cure the default. After any such application by Landlord of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereofTenant shall reinstate the Letter of Credit to the amount originally required to be maintained hereunder, upon demand. The University acknowledges thatIf Landlord has drawn on the Letter of Credit under Section 8.6(ii), subject and to damages prescribed by lawthe extent Landlord has not applied amounts to cure Tenant defaults, it shallthen after acceptance of a replacement Letter of Credit, within thirty Landlord shall restore to Tenant the remaining amount of such funds. Within sixty (3060) days after the expiration or sooner termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereofTerm, and any interest thereonprovided that no default exists under this Lease, if duethe Letter of Credit, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on extent not applied, shall be returned to the Premises with Licensee's consentTenant, reasonable wear and tear excluded, but failure to clean includedwithout interest. In the case event of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature a sale of the damages and of the repairs necessary to correct itPremises or lease, and written evidence, such as estimates, bills, invoices conveyance or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition transfer of the Premises. If , Landlord shall have the Licensee disagrees with right to transfer the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement Security Deposit to the Universitytransferee and Landlord shall thereupon be released by Tenant from all liability for the return of such Security Deposit; and subject to Article IX, Tenant agrees to look to the transferee solely for the return of said Security Deposit. No amount The provisions hereof shall apply to every transfer or assignment made of the Security Deposit to such a transferee. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the Letter of Credit or the monies deposited herein as security, and that neither Landlord nor its successors or assigns shall be deducted from the security deposit for bound by any damage which was listed in the statement of condition assignment, encumbrance, attempted assignment or in any separate list submitted by Licensee and approved by the University or the Universityattempted encumbrance. Tenant will enter into such agreements as Landlord's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated lender may request with respect to the prior damage and was caused by assignment of the Licensee or by Security Deposit to such lender. In connection with any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers transfer of the Premises, Tenant shall cooperate with Landlord in the University shall transfer assignment of the security deposit or any balance thereof, and any accrued interest, Letter of Credit to the Universitytransferee and, if requested by the transferee, Tenant shall, within ten (10) business days from such request, cause a substitute Letter of Credit to be issued to the transferee that complies with the requirements of this Section. If for any reason that certain lease dated on or about the date hereof from Taurus Cranston LLC to Poly-Flex Circuits, Inc. concerning certain property located at 28 Kenny Drive, Cranston, Rhode Island (the "Cranston Lease") termi▇▇▇▇▇, Tenant shall, simultaneously with such termination, increase the Security Deposit under this Lease by Two Hundred and Fifty Thousand Dollars ($250,000). Tenant represents and warrants to Landlord that: (i) as of the date of this Lease, Tenant has not less than $1,800,000 of immediate and unrestricted availability under a credit facility (the "Credit Facility") between Tenant and Silicon Valley Bank ("SVB"); and (ii) Tenant expects that, on or before July 31, 2003, the immediate and unrestricted availability under the Credit Facility will increase to at least $3,000,000. No later than August 8, 2003, Tenant shall provide Landlord with a written certification from SVB (the "SVB Certification") setting forth the immediate and unrestricted availability under the Credit Facility as of the date of such certification (such amount, the "Available Amount"). If Tenant fails to deliver the SVB Certification by August 8, 2003, the Available Amount shall be deemed to be zero. If, by August 8, 2003, Tenant has not provided Landlord with a SVB Certification demonstrating that the Available Amount is at least $3,000,000, Tenant shall, no later than August 15, 2003, increase the Security Deposit by the amount by which $3,000,000 exceeds the Available Amount. Notwithstanding anything to the contrary in this Lease, Tenant's successor in interest failure to increase the Security Deposit as and when required above shall constitute an immediate Event of Default by the Tenant under this Lease without any requirement for further notice from Landlord and without Tenant having the benefit of Licenseeany additional cure period. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the The amount of the security deposit at Security Deposit required under Section 1.1 shall be increased as set forth above. Such increase shall be effectuated by the rate delivery to Landlord of two percent (2%) per year, payable at a substitute Letter of Credit in the end increased amount that otherwise complies with the requirements of each year of Licensee's occupancythis Section.

Security Deposit. Licensee shall pay «Monthly_Fee» Tenant, within ten (an amount not to exceed one month's License Fee10) on or before «Start_Date» to be held by days of the University during the term date hereof, shall deposit with Landlord the Security Deposit in the form of a letter of credit ("Letter of Credit") which is attached hereto as Exhibit C, as security for the performance by Tenant of all of Tenant's obligations contained in this Lease. In the event of Default by Tenant, Landlord may apply all or any extension part of the Security Deposit to cure all or renewalany part of such Default; and Tenant agrees to promptly, upon demand, deposit such additional sum with Landlord as a security deposit pursuant may be required to maintain the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the full amount of the security depositSecurity Deposit. The University All sums held by Landlord pursuant to this section shall furnish Licensee with a separate receipt at be without interest accruing to either party. At the time end of receiving the Lease Term, provided that there is then no uncured Default, Landlord shall return the Security Deposit, or any partial payment thereof. The University acknowledges that, subject Deposit to damages prescribed by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, Tenant within thirty (30) days, with an itemized list . The Letter of damages, sworn to Credit shall be in the amount of Five Hundred Thousand Dollars ($500,000.00) and shall be held by Landlord as security for the University or its agent under pains full and penalties faithful performance by Tenant of perjury, itemizing in precise detail the nature all of the damages terms, conditions and covenants contained in the Lease on the part of Tenant to be performed, including but not limited to the payment of rent. In the event of a Default by Tenant in the payment of rent or performance or observance of any of the repairs necessary other terms, conditions or covenants of this Lease, Landlord may, at its option and without notice to correct itTenant (except as otherwise required under the Lease), draw upon the Letter of Credit and written evidenceapply all or any part thereof to payment of rent or to cure any such default; and if Landlord does so, such as estimatesTenant shall, billsupon request, invoices or receiptsdeposit with Landlord the amount so applied so that Landlord will have on hand at all times during the Lease Term the full amount of the Letter of Credit. The Letter of Credit shall be renewed on an annual basis. If Tenant has not renewed the Letter of Credit at least thirty (30) days prior to the expiration date thereof, indicating Landlord may immediately draw upon the actual estimated costs Letter of Credit and hold the cash proceeds in lieu thereof. The University All sums held by Landlord pursuant to this Article 4 shall submit to Licensee a separate written statement of the present condition of the Premisesbe without interest. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement Notwithstanding anything contained herein to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement contrary, absent two (2) events of condition or Default in any separate list submitted by Licensee and approved by the University or the University's agentcalendar year, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit Letter of Credit shall be decreased during the Lease Term per the following schedule: Months from Minimum Amount Available Percentage Decrease from Commencement Date under Letter of Credit Previous Year ---------------------- ------------------------ ------------------------ Months 1 - 12 $500,000.00 $ 0.00 Months 13 - 24 $450,000.00 $ 50,000.00 Months 25 - 36 $400,000.00 $ 50,000.00 Months 37 - 48 $350,000.00 $ 50,000.00 *Months 49 - 60 $250,000.00 $100,000.00 Months 61 -72 $150,000.00 $100,000.00 Months 73 - 120 $ 50,000.00 $100,000.00 * Provided Tenant satisfies the following financial condition: Tangible Net Worth: $50,000,000.00 Current Ratio: 2 Earnings before interest, taxes, depreciation and amortization for fiscal year is positive. Letter of Credit reductions shall be subject to the absence of any uncured events of Default. Specifically, failure to pay Base Rent and Additional Rent is an event of Default which shall void or modify the reduction in the Letter of Credit. Any monetary Default in a twelve (12) month period or three (3) events of non-monetary Default in a year will cause the Letter of Credit to remain at the rate of two percent (2%) per then current level but still maintain the ability to reduce in subsequent years starting in the immediately following year, payable at the end of each year of Licensee's occupancy.

Security Deposit. Licensee Tenant has deposited with Landlord the sum of $55,680.00 as security for the full and punctual performance by Tenant of all of the terms of this Lease. Landlord shall pay «Monthly_Fee» (hold such security deposit in an amount not to exceed one month's License Fee) on or before «Start_Date» interest-bearing account, to be held selected by Landlord, and the University during interest earned thereon (less an administrative fee of one (1%) percent per annum of the term hereofprincipal) shall be returned to Tenant upon Tenant's written request but not more frequently than annually. In the event Tenant defaults in the performance of any of the terms of this Lease, Landlord may apply the whole or any extension part of the security so deposited to the extent required for the payment of (i) any rent or renewal(ii) any sum which Landlord may expend or may be required to expend by reason of Tenant's default including, as a without limitation, any damages or deficiency in the re- letting of the demised premises, whether accruing before or after summary proceedings or other re-entry by Landlord. Upon each such application, Tenant shall, on demand, pay to Landlord the sum so applied which shall be added to the security deposit pursuant so that the same shall be restored to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount first set forth above. The amount of the security deposit. The University , with interest, shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject be returned to damages prescribed by law, it shall, within thirty (30) days Tenant after the termination of this Lease and delivery of exclusive possession of the License or upon Licensee's vacating the demised premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case event of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University a sale or its agent under pains and penalties of perjury, itemizing in precise detail the nature lease of the damages and of Building, Landlord shall have the repairs necessary right to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest vendee or lessee and Landlord shall ipso facto be released by Tenant from all liability for the benefit return of Licensee. If such security; and Tenant agrees to look solely to the new landlord for the return of said security deposit and it is held for one year agreed that the provisions hereof shall apply to every transfer or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount assignment made of the security deposit at to a new landlord. Tenant shall not assign or encumber or attempt to assign or encumber the rate of two percent (2%) per yearmonies deposited herein as security and neither Landlord nor its successors or assigns shall be bound by any such assignment, payable at the end of each year of Licensee's occupancyencumbrance, or attempted assignment or encumbrance.

Security Deposit. Licensee Upon Tenant's execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not deliver to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewalLandlord, as a security deposit pursuant to Security Deposit for the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEperformance by Tenant of its obligations under this Lease, nor shall any damages be limited to the amount of specified in the security depositBasic Lease Information. The University shall furnish Licensee with a separate receipt at the time of receiving If Tenant is in default, Landlord may, but without obligation to do so, use the Security Deposit, or any partial payment portion thereof, to cure the default or to compensate Landlord for all damages sustained by Landlord resulting from Tenant's default, including, but not limited to the Enforcement Expenses. The University acknowledges that, subject to damages prescribed by law, it Tenant shall, within thirty immediately on demand, pay to Landlord a sum equal to the portion of the Security Deposit so applied or used so as to replenish the amount of the Security Deposit held to increase such deposit to the amount initially deposited with Landlord. At any time after Tenant has defaulted hereunder, Landlord may require up to a one hundred percent (30100%) increase in the amount of the Security Deposit required hereunder for the then balance of the Lease Term and Tenant shall, immediately on demand, pay to Landlord additional sums in the amount of such increase. Within sixty days after following the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessionsthis Lease, whichever Landlord shall last occur, endeavor to return the security deposit Security Deposit to Tenant, less such amounts as are reasonably necessary, as determined solely by Landlord, to remedy Tenant's default(s) hereunder or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to otherwise restore the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consentto a clean and safe condition, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premisesexcepted. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in cost to restore the Premises exceeds the amount of the Security Deposit, Tenant shall promptly deliver to Landlord any and return all of such excess sums as reasonably determined by Landlord. Landlord shall not be required to keep the statement to the University. No amount shall be deducted Security Deposit separate from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agentother funds, and, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused otherwise required by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premiseslaw, the University Tenant shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall not be entitled to interest on the amount Security Deposit. In no event or circumstance shall Tenant have the right to any use of the security deposit at Security Deposit and, specifically, Tenant may not use the rate of two percent (2%) per yearSecurity Deposit as a credit or to otherwise offset any payments required hereunder, payable at the end of each year of Licensee's occupancyincluding, but not limited to, Rent or any portion thereof.

Security Deposit. Licensee (a) The sum which is set forth in Section 1.04 which Tenant has deposited with Landlord is security for the full and faithful performance by Tenant of all its obligations under this Lease or in connection with this Lease. If an Event of Default (as herein defined) has occurred, Landlord may use, apply or retain the whole or any part of the Security Deposit (following notice to Tenant except in the event of a monetary default in which event no notice shall pay «Monthly_Fee» be required) in such order and in such combination as Landlord elects, for the payment of (an amount i) Rent or any other sums of money which Tenant may not have paid or which may become due after the occurrence of the Event of Default; (ii) any sum expended by Landlord on Tenant's behalf in accordance with the provisions of this Lease; or (iii) any sum which the Landlord may expend or be required to exceed one month's License Fee) on expend by reason of such Event of Default, including any damages or before «Start_Date» to be held by deficiency in the University reletting of the Demised Premises in connection with Article XVI hereof. In the case of every such application or retention during the term hereofLease Term, Tenant shall, on demand, pay to Landlord a sum equal to that so applied or retained, which shall be added to the Security Deposit so that the same shall be restored to its original amount. Landlord may use, apply or retain the whole or any extension part of the Security Deposit for the repair of damage to the Demised Premises upon Tenant's surrender of the Demised Premises on the Expiration Date, provided Landlord has given prior notice and Tenant has failed to correct or renewalrepair said damage. The use, application or retention of the Security Deposit or portion thereof by Landlord shall not prevent Landlord from exercising any other right or remedy provided for hereunder or at law and shall not operate as a security deposit pursuant limitation on any recovery to which Landlord may otherwise be entitled. (b) The Security Deposit shall bear no interest; and if legally permissible, Landlord shall be entitled to commingle the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor Security Deposit with Landlord's other funds. (c) If Tenant shall any damages be limited to the amount fully and faithfully comply with all of the security deposit. The University shall furnish Licensee with a separate receipt at the time provisions of receiving this Lease, the Security Deposit, Deposit or any partial payment thereof. The University acknowledges that, subject balance thereof shall be returned to damages prescribed by law, it shall, Tenant within thirty (30) days after the termination Expiration Date or upon any later date after which Tenant has vacated the Demised Premises. In the absence of evidence satisfactory to Landlord of any assignment of the License right to receive the Security Deposit or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any remaining balance thereof, and any Landlord may return the Security Deposit to the original Tenant regardless of one or more assignments of Tenant's interest thereonin such Security Deposit. In such event, if dueupon the return of such Security Deposit or balance thereof to the original Tenant, after deductingLandlord shall be completely relieved of liability hereunder. (1d) Any unpaid License fees;Tenant covenants and agrees that it shall not assign, pledge, hypothecate, mortgage or otherwise encumber the Security Deposit during the term of the Lease. (2e) A reasonable amount necessary The Security Deposit may be transferred to repair any damage caused purchaser of Landlord's interest in the Building or the Real Estate, and upon such transfer and notice of same to Tenant, Landlord shall be relieved of any obligation with respect thereto. (f) Tenant shall have the Premises by Licensee right to substitute an irrevocable letter of credit ("Letter of Credit") for the cash security deposit, subject to Landlord's approval of (i) the institution or any person under Licensee's control or on bank issuing said Letter of Credit, and (ii) the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature form of the damages and Letter of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyCredit.

Security Deposit. Licensee Tenant shall pay «Monthly_Fee» (an amount provide Landlord a Security Deposit of $124,045.20, which Security Deposit Tenant shall deliver to Landlord at or prior to the time of Tenant’s execution of this Lease, by cashier’s check, wire transfer or other method of payment acceptable to Landlord; provided, however, that Tenant may, at its option, provide a clean, renewable, standby letter of credit to Landlord in lieu of a cash security deposit on a form reasonably acceptable to Landlord and issued by a financial institution reasonably acceptable to Landlord. If Tenant elects to post a letter of credit then such letter of credit shall be provided to Landlord within 5 business days following Prime Landlord’s consent to this Lease. In the event of any breach, default or other failure by Tenant with respect to any term or condition of this Lease, including but not limited to exceed one month's License Fee) on the payment of Rent, beyond any applicable notice and cure period, Landlord may apply all or before «Start_Date» any part of the Security Deposit to be held by the University during the term hereofpayment of any sum in default, or any extension other sum which Landlord may be required to spend or renewalincur by reason of Tenant’s failure, or any other sum which Landlord may in its reasonable discretion deem necessary to spend or incur on Tenant’s behalf or by reason of Tenant’s failure. (Nothing in this Lease shall be construed to create or imply an obligation on the part of Landlord to pay or incur any amount on Tenant’s behalf or by reason of Tenant’s failure.) In such event, Tenant shall within 5 days after demand deposit with Landlord such amount as a security deposit pursuant is required to replace all funds removed from the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEESecurity Deposit by Landlord in accordance with this paragraph. If Tenant is not then in default under this Lease, nor shall any damages be limited to the amount of the security deposit. The University Security Deposit then held by Landlord shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject be repaid to damages prescribed by law, it shall, Tenant within thirty (30) 30 days after the expiration or sooner termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedthis Lease. In the case event of such damageany breach, the University shall provide the Licensee, within thirty (30) days, default or other failure by Tenant with an itemized list of damages, sworn respect to by the University any term or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of this Lease, Landlord’s right to retain the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount Security shall be deducted from the security deposit for deemed to be in addition to any damage which was listed in the statement of condition and all other rights and remedies available to Landlord under this Lease, at law or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyequity.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» As security for the full and faithful performance of every covenant and condition of this Lease to be held performed by Tenant, Tenant has paid to Landlord the University during the term Security Deposit as specified in Section 1(g) hereof, receipt of which is hereby acknowledged. If Tenant shall default with respect to any material covenant or condition of this Lease, including but not limited to the payment of Rent, Additional Rent or any extension other payment due under this Lease, Landlord may apply all or renewal, as a security deposit pursuant any part of the Security Deposit to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEEpayment of any sum in default or any other sum which Landlord may be required or may in its reasonable discretion deem necessary to spend or incur by reason of Tenant's default. In such event, nor Tenant shall, within five (5) days of written demand therefor by Landlord, deposit with Landlord the amount so applied. If Tenant shall any damages be limited to have fully complied with all of the covenants and conditions of this Lease, but not otherwise, the amount of the security deposit. The University Security Deposit then held by Landlord shall furnish Licensee with a separate receipt be repaid to Tenant (or, at Landlord's option, to the time last assignee of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, Tenant's interest hereunder) within thirty (30) days after the expiration or sooner termination of this Lease. In the License event of Tenant's default under this Lease, Landlord's right to retain the Security Deposit shall be deemed to be in addition to any and all other rights and remedies at law or upon Licensee's vacating the premises completely together with all of Licensee's goods in equity available to Landlord. Landlord shall not be required to keep any Security Deposit separate from its general funds and possessions, whichever Tenant shall last occur, return the security deposit or any balance thereof, and not be entitled to any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.

Security Deposit. Licensee The Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) keep on or before «Start_Date» to be held by deposit with the University Landlord at all times during the term hereofof this Lease the Lease Deposit specified on the Lease Facing Page hereof as security for the payment -------- -------- initials initials by the Tenant of the Rent and any other sums due under this Lease and for the faithful performance of all the terms, conditions, and covenants of this Lease, it being expressly understood that the Lease Deposit shall not be considered advance payment of Rent or a measure of ▇▇▇▇▇▇▇▇'s damages in the case of default by ▇▇▇▇▇▇. If an event of a default set forth in Section 34.1 occurs, the Landlord may (but shall not be required to) use any such deposit, or so much thereof as necessary in payment of any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving the Security Deposit, Rent or any partial payment thereof. The University acknowledges thatother sums due under this Lease in default, subject to damages prescribed in reimbursement of any expense incurred by law, it shall, within thirty (30) days after the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereofLandlord, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused or to clean, paint, carpet and fumigate the Leased Premises after termination of possession by Tenant. In such event the Tenant shall on written demand of the Landlord forthwith remit to the Landlord a sufficient amount in cash to restore such deposit to its original amount. If such deposit has not been utilized as aforesaid, such deposit, or as much thereof as has not been utilized for such purposes, shall be refunded to the Tenant upon full performance of this Lease by the Tenant. Landlord shall have the right to commingle such deposit with other funds of the Landlord, and such deposit need not be kept in an escrow or other segregated account. Landlord shall deliver the funds deposited herein by the Tenant to any purchaser of the Landlord's interest in the Leased Premises by Licensee or any person under Licensee's control or on in the Premises with Licensee's consentevent such interest be sold, reasonable wear and tear excluded, but failure to clean included. In the case of such damagethereupon, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount Landlord shall be deducted discharged from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused further liability with respect to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancysuch deposit.

Security Deposit. Licensee shall pay «Monthly_Fee» (an amount not 36.01. Tenant has deposited with Landlord the sum of $24,000.00 by check, subject to exceed one month's License Fee) on or before «Start_Date» collection, as security for the full and punctual performance by Tenant of all of the terms of this lease. Said sum to be held deposited by Landlord in a noninterest bearing account. If Tenant defaults in the University during performance of any of the term hereofterms of this lease, including the payment of rent, Landlord may use, apply or retain the whole or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security deposit. The University shall furnish Licensee with a separate receipt at so deposited to the time extent required for the payment of receiving the Security Deposit, any rent or for any partial payment thereof. The University acknowledges that, subject sum which Landlord may expend or may be required to damages prescribed expend by law, it shall, within thirty (30) days after the termination reason of Tenant's default in respect of any of the License terms of this lease, including any damages or upon Licensee's vacating deficiency in the premises completely together with all reletting of Licensee's goods and possessionsthe Demised Premises, whichever shall last occur, return the security deposit whether accruing before or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises summary proceedings or other re-entry by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean includedLandlord. In the case of every such damageuse, application or retention, Tenant shall, on demand, pay to Landlord the University shall provide the Licenseesum so used, within thirty (30) days, with an itemized list of damages, sworn to by the University applied or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount retained which shall be deducted from added to the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove so that the renewed damage was unrelated same shall be replenished to its former amount, and any failure by Tenant to pay such sum on demand shall constitute a default under this lease. In the prior damage and was caused by event of a sale or lease of the Licensee or by any person under Building, Landlord shall have the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall right to transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest vendee or lessee and Landlord shall upon such transfer be released by Tenant from all liability for the benefit return of Licensee. If such security; and Tenant agrees to look solely to the new landlord for the return of said security; and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the security deposit is held for one year to a new landlord. Tenant shall not assign or longer from encumber or attempt to assign or encumber the commencement of Licensee's occupancy, Licensee money deposited herein as security and neither Landlord nor its successors or assigns shall be entitled bound by any such assignment, encumbrance or attempted assignment or encumbrance. Tenant shall from time to interest on time increase the amount of security so the Landlord hold security deposit at the rate of equal to two percent (2%) per year, payable at the end of each year of Licensee's occupancymonths’ rent.

Security Deposit. Licensee Lessor acknowledges receipt from or for the account of Lessee of a security deposit (the "Security Deposit") in the total amount of [ ]* Dollars (US$[ ]*) (the "Security Deposit Amount"). The Security Deposit shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University Lessor during the term hereofLease Term as security for the full and punctual performance by Lessee of all of its obligations hereunder. During the Lease Term, or any extension or renewalthe Security Deposit may be commingled by Lessor with other funds. Interest, as a security deposit pursuant to if any, earned on the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEESecurity Deposit shall be for Lessor's sole account. Lessor may, nor but shall any damages not be limited to the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving obligated to, apply the Security Deposit, in whole or in part for the payment of any Basic Rent owing hereunder or any partial payment thereofother amount owing from time to time by Lessee hereunder, or utilize the Security Deposit in whole or in part to perform any of Lessee's obligations hereunder or otherwise remedy any Event of Default, without prejudice to any other remedy of Lessor. The University acknowledges that, Lessee shall not attempt to subject the Security Deposit to damages prescribed by law, it shall, within thirty (30) days after the termination of the License any Lien or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and to assign any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary therein to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interestPerson and, to the Universityextent of its interest therein, Lessee hereby grants to Lessor a Lien on the Security Deposit and assigns and transfers to Lessor any and all of Lessee's successor in right, title and interest for the benefit of Licensee. If the therein, as security deposit is held for one year or longer from the commencement of Licensee's occupancyas provided above, Licensee and Lessor shall be entitled to interest on the remedy of offset against and application of the Security Deposit, without any prior notice to or demand against Lessee (except to the extent otherwise required by applicable law), all of which are hereby waived. If Lessor uses or applies all or a portion of the Security Deposit, such application shall not be deemed a cure of any Event of Default, until and unless Lessee shall have replenished the amount applied hereunder within the time period provided herein. Lessee shall replenish any portion or all of the security deposit at Security Deposit applied by Lessor to satisfy, in whole or in part, any Event of Default by depositing with Lessor in immediately available funds an amount sufficient to restore the rate Security Deposit to the Security Deposit Amount within three (3) Business Days after Lessor's demand therefor. Within fifteen (15) days after redelivery of two percent (2%) per yearthe Engine to Lessor by Lessee, payable at and provided the end Engine is delivered in full conformity with the return conditions set forth in Section 10 hereof, and that Lessee has paid, in full, all amounts owing by Lessee hereunder and performed all of each year of Licensee's occupancyits obligations hereunder, Lessor will return to Lessee the Security Deposit, without interest, less any amounts applied by Lessor and not replenished by Lessee.

Security Deposit. Licensee Upon execution of this Lease, Tenant shall pay «Monthly_Fee» (an deposit the Security Deposit Amount with the Landlord or a letter of credit in the same amount not in a form acceptable to exceed one monthLandlord in Landlord's License Fee) reasonable discretion. The issuer of the Letter of Credit shall be a banking institution with at least a rating of A and otherwise reasonably acceptable to Landlord. Although Landlord shall only have the right to draw under the Letter of Credit in the event of a default as set forth herein, under the terms of the Letter of Credit, the sole condition to Landlord's draw upon the Letter of Credit shall be presentment to the issuer thereof, prior to or on or before «Start_Date» the expiration date, of a demand for payment. The Letter of Credit shall be self-renewing from year to be held by the University year during the term hereofof this Lease so as to expire no earlier than thirty (30) days following the Lease expiration date and shall contain such other customary terms as Landlord requires in its reasonable discretion, including, but not limited to, a provision that the Letter of Credit is transferable to Landlord's successors and assigns. For and during the Term, Landlord shall have the irrevocable right, without further notice or approval of Tenant but not the obligation from time to time without prejudice to any other remedy Landlord may have on account thereof, to apply the Security Deposit or any extension portion thereof or renewalinterest thereon, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall Landlord's damage resulting from any damages be limited to the amount default after applicable grace and cure periods by Tenant. On termination of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving Term, the Security Deposit, or any partial payment thereof. The University acknowledges thatthe portion thereof then held by Landlord shall be returned to Tenant, subject to damages prescribed by law, it shall, within thirty (30) days after beyond the termination of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair cure the breach of an provision of this Lease by Tenant. If all or any damage caused part of the Security Deposit is applied to an obligation of Tenant hereunder, Tenant shall immediately upon request by Landlord restore the Security Deposit to its original amount. Tenant shall not have the right to call upon Landlord to apply all or any part of the Security Deposit to cure any default or fulfill any obligation of Tenant, but such use shall be solely in the discretion of Landlord. Upon any conveyance by Landlord of its interest under this Lease, the Security Deposit shall be delivered by Landlord to Landlord's grantee or transferee. Upon any such delivery, Tenant hereby releases Landlord herein named of any and all liability with respect to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consentSecurity Deposit, reasonable wear its application and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct itreturn, and written evidence, Tenant agrees to look solely to such as estimates, bills, invoices grantee or receipts, indicating the actual estimated costs thereoftransferee. The University It is further understood that this provision shall submit also apply to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises subsequent grantees and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancytransferees.

Security Deposit. Licensee Concurrently with ▇▇▇▇▇▇’s execution of this Lease, Tenant shall pay «Monthly_Fee» (an amount not to exceed one month's License Fee) on or before «Start_Date» to be held by the University during the term hereof, or any extension or renewal, as deposit with Landlord a security deposit pursuant (the “Security Deposit”) in the amount of $21,358.75. If Tenant fails to timely pay Rent or other charges due hereunder, or otherwise Defaults with respect to any provisions of this Lease (beyond applicable notice and cure periods hereunder, if any), Landlord may, without notice to Tenant, use, apply, or retain all or any portion of the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEESecurity Deposit for the payment of any Rent or other charge in default or for the payment of any other sum to which Landlord may become obligated by reason of Tenant’s Default, or to compensate Landlord for any loss or damage which Landlord may suffer thereby. Landlord shall have no obligation to apply the Security Deposit against any amount due or owing from Tenant under this Lease or against any advance made by Landlord, nor shall the rights and remedies of the Landlord under this Lease be affected in any damages manner by the fact that Landlord holds the Security Deposit or applies the Security Deposit in a manner set forth herein. Landlord shall not be limited required to keep the security deposit separate from its general accounts or to pay interest thereon unless otherwise required by applicable law. If Landlord uses, applies, or retains the whole or any part of the Security Deposit in accordance with this Lease, Tenant shall deliver to Landlord the amount of the security deposit. The University shall furnish Licensee with a separate receipt at the time of receiving necessary to replenish the Security Deposit, or any partial payment thereof. The University acknowledges that, subject Deposit to damages prescribed by law, it shall, its original sum within thirty five (305) days after the termination notice from Landlord of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if amount due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary . Failure to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on pay the amount due within the required time period shall constitute a Default under this Lease. ​ ​ ​ Page 20 of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancy.27 ​ ​ ​ LL Initials: ​ ​ T Initials: ​ ​ ​

Security Deposit. Licensee Section 6 of the Lease is hereby amended by adding the following at the end of Section 6: a. The Security Deposit shall pay «Monthly_Fee» be in the form of an irrevocable, unconditional letter of credit (an the "Security Deposit L/C") in the amount set forth in Section 1.10, as security for Tenant’s full and faithful performance of Tenant’s obligations hereunder. The Security Deposit L/C shall be delivered to Landlord at Tenant's sole cost and expense. The Security Deposit L/C shall be issued by and drawn on a bank reasonably acceptable to Landlord, and shall name Landlord as Beneficiary. The Security Deposit L/C shall be substantially in the form attached hereto as Exhibit D. If the maturity date of the Security Deposit L/C is prior to the end of the Term of the Lease, Tenant shall renew the Security Deposit L/C as often as is necessary with the same bank or financial institution (or a similar bank or financial institution reasonably acceptable to Landlord) and upon the same terms and conditions, not less than thirty (30) days prior to exceed one month's License Fee) the purported expiration date of the Security Deposit L/C. In the event that Tenant fails to timely renew the Security Deposit L/C as aforesaid, Landlord shall be entitled to draw against the entire amount of the Security Deposit L/C. The Security Deposit L/C shall be assignable by Landlord and upon such assignment to any party assuming in writing the lessor interest in this Lease, Landlord shall be relieved from all liability to Tenant therefor. b. Upon the occurrence of any default by Tenant in the payment of Base Rent or upon the occurrence of the events described in Section 13.1 of the Lease or in the event that Landlord terminates this Lease in accordance with the terms hereof following a default by Tenant, Landlord shall have the right to draw the entire amount of the Security Deposit L/C. Landlord agrees to copy Tenant on or before «Start_Date» any notice to the issuing bank requesting a draw against the Security Deposit L/C. In the event that Tenant defaults in making any money payment required to be held made by Tenant under the terms of this Lease other than the payment of Base Rent, then Landlord shall be entitled to draw upon so much of the Security Deposit L/C as equals the defaulted payment(s), plus any interest or other charges due thereon in accordance with this Lease, plus any additional sums to which Landlord is reasonably entitled under the terms and conditions of this Lease in connection with a default by Tenant pursuant to Section 13.1. If Landlord elects to make a partial draw upon the Security Deposit L/C, Tenant shall promptly restore the Security Deposit L/C to its original amount within ten (10) days after written demand therefor. Landlord's election to make a partial draw upon the Security Deposit L/C shall in no event prejudice or waive Landlord's right to terminate this Lease if permitted under applicable provisions of this Lease, nor shall such election prejudice or waive any other remedy of Landlord reserved under the terms of this Lease, including the right to draw the entire amount of the Security Deposit L/C, if applicable. The Security Deposit L/C shall be available for payment against the presentation of a sight draft by the University during Landlord together with a certificate from Landlord that Tenant is in default of its obligations hereunder beyond expiration of any applicable notice and cure periods and that Landlord is entitled, by the term hereofterms of this Lease, or any extension or renewalto draw upon the Security Deposit L/C. The proceeds of the Security Deposit L/C, as a security deposit if drawn by Landlord pursuant to the terms hereof; it being understood , shall be held by Landlord in accordance with the provisions of Section 6 of the Lease and applied to reduce any amount owed by Tenant to Landlord. No interest shall be payable for any Security Deposit L/C proceeds held on account. c. In the event that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE(1) Landlord draws the full amount of the Security Deposit L/C as a result of a default by Tenant, nor (2) this Lease is not terminated by Landlord as a result of such default, (3) such default is fully cured by Tenant, and (4) there is no outstanding uncured default by Tenant, then the balance of the sums drawn (after the payment of any sums related to the curing of any defaults) shall be applied first to obtain a replacement letter of credit as security for Tenant's performance hereunder, and the remaining balance, if any, will be refunded to Tenant. Upon the termination of this Lease and the payment in full to Landlord of all damages, costs and expenses to which Landlord is entitled, the balance of any damages funds drawn from the Security Deposit L/C after satisfying such obligations in full shall be limited refunded to Tenant. d. To the extent that the Security Deposit L/C is either lost or the issuing bank will not honor the Security Deposit L/C, Tenant guarantees the proceeds of the Security Deposit L/C and will immediately remit to Landlord the amount of the security deposit. The University shall furnish Licensee Security Deposit in cash to be held in accordance with a separate receipt at the time of receiving the Security Deposit, or any partial payment thereof. The University acknowledges that, subject to damages prescribed by law, it shall, within thirty (30) days after the termination this Section 6 of the License or upon Licensee's vacating the premises completely together with all of Licensee's goods and possessions, whichever shall last occur, return the security deposit or any balance thereof, and any interest thereon, if due, after deducting (1) Any unpaid License fees; (2) A reasonable amount necessary to repair any damage caused to the Premises by Licensee or any person under Licensee's control or on the Premises with Licensee's consent, reasonable wear and tear excluded, but failure to clean included. In the case of such damage, the University shall provide the Licensee, within thirty (30) days, with an itemized list of damages, sworn to by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature of the damages and of the repairs necessary to correct it, and written evidence, such as estimates, bills, invoices or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted from the security deposit for any damage which was listed in the statement of condition or in any separate list submitted by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interest, to the University's successor in interest for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount of the security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyLease.

Security Deposit. Licensee A. Upon the signing of the lease, Tenant shall pay «Monthly_Fee» deposit with Landlord the sum of One Hundred Eighteen Thousand Seven Hundred and Fifty (an amount not $118,750.00) Dollars, by good check payable to exceed one month's License Fee) Landlord, or by Letter of Credit, as provided below, as security for the full and faithful performance and observance by Tenant of the terms, provisions and conditions of this lease. If Tenant defaults in respect of any of the terms, provisions and conditions of this lease, on or before «Start_Date» its part to be held by performed or observed, including, but not limited to, the University during payment of Fixed Rent and Additional Rent, Landlord may use, apply or retain the term hereof, whole or any extension or renewal, as a security deposit pursuant to the terms hereof; it being understood that THIS DEPOSIT IS NOT TO BE CONSIDERED AS A PREPAID LICENSE FEE, nor shall any damages be limited to the amount part of the security deposit. The University shall furnish Licensee with a separate receipt at so deposited to the time extent required for the payment of receiving the Security Deposit, any Fixed Rent and Additional Rent or any partial payment thereofother sum as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant's default in respect of any of the terms, covenants and conditions of this lease. The University acknowledges thatIf Tenant shall have fully and faithfully complied with all of the terms, subject provisions and conditions of the lease as of the Expiration Date, the security shall be promptly returned to damages prescribed by law, it shall, Tenant within thirty (30) days after the termination Expiration Date and after delivery by Tenant of possession of the License Premises to Landlord. If Landlord applies or retains any part of the security so deposited, Tenant, upon Licenseedemand, shall deposit with Landlord the amount so applied or retained, so that Landlord shall have the full deposit on hand at all times during the term of this lease. Application of the security deposited by Tenant shall not be deemed to limit Landlord's vacating rights against Tenant in the premises completely together event of a default under the terms, provisions and conditions of this lease. Any cash deposit shall be placed in an interest bearing account with all interest earned thereon, less one (1%) percent per annum accruing to the benefit of Licensee's goods Tenant annually. B. In lieu of a cash security, Tenant shall have the right during the Term of this Lease to deliver to the Landlord a clean, irrevocable and possessions, whichever shall last occur, return the security deposit or any balance thereofunconditional letter of credit (such letter of credit, and any interest thereonreplacement thereof as provided herein, if dueis called a "Letter of Credit") issued and drawn upon any commercial bank reasonably approved by the Landlord with offices for banking purposes in the City of New York or Nassau County, after deducting New York ("Issuing Bank"), which Letter of Credit shall have a term of not less than one (1) Any unpaid License fees; (2) A reasonable year, to be renewed automatically from year to year, shall be in form and content reasonably satisfactory to Landlord and their counsel, for the account of the Landlord and be in the amount necessary to repair any damage caused specified above. The Letter of Credit shall provide that the Issuing Bank shall pay to the Premises by Licensee Landlord or any person its duly authorized representative an amount up to the face amount of the Letter of Credit upon presentation of an affidavit from an officer of the Landlord specifying that a default under Licensee's control or on this lease has occurred, that Landlord has given the Premises with Licensee's consent, reasonable wear required notice of the default to Tenant and tear excluded, but failure that Tenant has failed to clean includedcure the default and the Letter of Credit and a sight draft in the amount shall be drawn and delivered to Landlord. C. The Letter of Credit will automatically be renewed for successive periods of one (1) year. In the case event that the Letter of such damageCredit is cancelled by the Issuing Bank for any reason whatsoever, the University Landlord shall provide the Licensee, within receive at least thirty (30) days' notification of such cancellation from the Issuing Bank. In the event Tenant shall fail to deliver a replacement Letter of Credit or Cash in lieu of the cancelled Letter of Credit within fifteen (15) days of such notification, with an itemized list the Landlord shall have the right to draw the entire amount of damages, sworn the Letter of Credit and to hold the proceeds as a cash security deposit pursuant to the terms of this paragraph. D. In the event of a sale by the University or its agent under pains and penalties of perjury, itemizing in precise detail the nature Landlord of the damages and Building or leasing of the repairs necessary Building, Landlord shall have the right to correct it, and written evidence, such as estimates, bills, invoices transfer either the Letter of Credit or receipts, indicating the actual estimated costs thereof. The University shall submit to Licensee a separate written statement of the present condition of the Premises. If the Licensee disagrees with the University's statement of condition, Licensee must attach a separate list of any damage existing in the Premises and return the statement to the University. No amount shall be deducted sums collected thereunder by Landlord from the security deposit for Issuing Bank, together with any damage which was listed in the statement of condition or in any separate list submitted other sums then held by Licensee and approved by the University or the University's agent, unless the University subsequently repaired or caused to be repaired said damage and can prove that the renewed damage was unrelated to the prior damage and was caused by the Licensee or by any person under the Licensee's control or on the Premises with Licensee's consent. If the University transfers the Premises, the University shall transfer the security deposit or any balance thereof, and any accrued interestLandlord as such security, to the University's successor in interest vendee or lessee, and Landlord thereupon shall be released by Tenant from all liability under this Article. Tenant agrees to look solely to the new landlord for the benefit of Licensee. If the security deposit is held for one year or longer from the commencement of Licensee's occupancy, Licensee shall be entitled to interest on the amount return of the Letter of Credit or any sums collected thereunder and any other security, and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the Letter of Credit or any sums collected thereunder and any other security deposit at the rate of two percent (2%) per year, payable at the end of each year of Licensee's occupancyto a new landlord.