Common use of Security Deposit Clause in Contracts

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 4 contracts

Samples: Litronic Inc, Litronic Inc, Litronic Inc

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Security Deposit. Sublessee shall deposit with Sublessor upon execution on the Effective Date an amount equal to two (2) months Rent at the rate of this Sublease the sum of Twenty Ninety Four Thousand Two Nine Hundred Fifty Forty Six and 40/100ths 00/100 Dollars ($20,250.4094,946.00) per month, for a sum total of One Hundred Eighty Nine Eight Hundred Ninety Two and 00/100 Dollars ($189,892.00), as security for Sublessee's faithful performance of Sublessee's its obligations hereunder (the "Security Deposit"). If Sublessee fails to pay rent Rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Deposit, Sublessee shall, within ten (10) days after its receipt of Sublessor's written demand by Sublessordemand, deposit cash with Sublessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, and set forth above. Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts. If Sublessee performs all of its obligations hereunder, following the Termination Date and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever Sublessor shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, return the Security Deposit, Deposit (or so much the portion thereof as had which has not theretofore been applied by Sublessor, shall be returned ) to Sublessee (or at Sublessor's option, to the last assignee, if any, of Sublessee's interest hereunderin the Sublease). No trust relationship is created herein between Sublessor and Sublessee with respect to the Security Deposit. No payment of interest or other incremental charge shall be payable to Sublessee for Sublessor's use of the Security Deposit.

Appears in 3 contracts

Samples: Marimba Inc, Marimba Inc, Marimba Inc

Security Deposit. Sublessee Within two (2) days after Subtenant’s execution and delivery of this Sublease, Subtenant shall deliver to Sublandlord an initial security deposit in the amount of One Million Dollars ($1,000,000) (the “Initial Security Deposit”, and together with Sublessor any Extension Security Deposit held from time to time, the “Security Deposit”) in the form of an unconditional, irrevocable standby letter of credit without documents, i.e., no obligation on Sublandlord’s part to present anything but a sight draft, with Sublandlord as beneficiary, drawable in whole or in part, providing for payment in Boston, Massachusetts, on presentation of Sublandlord’s drafts on sight, providing for multiple draws and multiple successors and otherwise both from a bank and in a form reasonably acceptable to Sublandlord (an “LC”). Notwithstanding the foregoing, Subtenant may elect to initially deliver the Initial Security Deposit in cash form, provided that Subtenant delivers an LC to Sublandlord to replace the cash Initial Security Deposit within forty-five (45) days of the effective date of this Sublease, and upon execution Sublandlord’s receipt of such LC, Sublandlord shall promptly return the cash balance of the Initial Security Deposit to Subtenant. If any portion of the Security Deposit is used or applied pursuant to this Section 5, Sublandlord shall provide Subtenant with written notice setting forth the amounts so used or applied and the purpose therefor, and Subtenant shall, within ten (10) days after receipt of such notice, deposit cash or a replacement letter of credit (in form and substance subject to the same requirements as the original letter of credit) in an amount sufficient to restore the Security Deposit to the required balance hereunder at such time. Subtenant’s failure to do so shall be a material default and breach of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) by Subtenant. The Security Deposit shall be held by Sublandlord as security for Sublessee's the faithful performance by Subtenant of Sublessee's obligations hereunder ("Security Deposit")all the terms, covenants, and conditions of this Sublease applicable to Subtenant. If Sublessee fails Subtenant defaults with respect to pay rent any provision of this Sublease beyond all applicable periods of notice and cure, including but not limited to the provisions relating to the condition of the Subleased Premises upon the Expiration Date, Sublandlord may (but shall not be required to) use, apply or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion part of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor Sublandlord may become obligated spend by reason of Sublessee's default or breach, or for Subtenant’s default. The rights of Sublandlord pursuant to this Section are in addition to any loss or damage sustained by Sublessor as a result of Sublessee's default or breachrights which Sublandlord may have pursuant to Section 10 below. If Sublessor so uses any portion Upon the expiration of the initial term (without giving effect to any Extension Periods) hereof or earlier termination of this Sublease, and when all then-existing defaults hereunder have been cured, Sublandlord shall return the Initial Security Deposit, Sublessee shall, Deposit or any balance thereof (without interest) to Subtenant within ten three (103) months of such expiration or termination. Failure of Subtenant to deliver a replacement letter of credit to Sublandlord at least thirty (30) days after written demand by Sublessor, restore the Security Deposit prior to the full amount originally deposited, and Sublessee's failure to do so expiration date of any current letter of credit shall constitute a separate default under this Sublease. Sublessor shall not be required entitling Sublandlord, following written notice and an opportunity to keep the Security Deposit separate from its general accountscure by Subtenant, to draw down immediately and shall have no obligation or liability for payment of interest entirely on the current letter of credit and the proceeds shall constitute a cash Initial Security Deposit. In With respect to any Extension Period, Subtenant shall provide to Sublandlord the event Sublessor assigns its interest Extension Security Deposit applicable thereto. Upon expiration or earlier termination of any Extension Period and when all then-existing defaults hereunder have been cured, Sublandlord shall return the Extension Security Deposit or any balance thereof (without interest) to Subtenant within three (3) months of such expiration or earlier termination. Notwithstanding anything in this Section 5 to the contrary, if the expiration of the initial term or any Extension Period shall also represent the occurrence of the Expiration Date, then upon expiration or earlier termination of this Sublease, Sublessor Sublandlord shall deliver to its assignee so much of the return any Security Deposit as is then held by Sublessor. Within ten or any balance thereof (10without interest) days to Subtenant within three (3) months of such expiration or earlier termination, and after the Term has expired, or Sublessee Subtenant has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has Subleased Premises and all then-existing defaults hereunder have been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereundercured.

Appears in 3 contracts

Samples: Sublease (Civitas Therapeutics, Inc.), Sublease (Civitas Therapeutics, Inc.), Acorda Therapeutics Inc

Security Deposit. Sublessee shall deposit with Sublessor upon Sublessee's execution of this Sublease hereof the sum of Twenty Sixteen Thousand Two Four Hundred Fifty and 40/100ths Sixty-Four 99/100 Dollars ($20,250.4016,464.99) ("Security Deposit"), plus applicable sales tax as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent Base Rental or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the said Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the said Security Depositdeposit, Sublessee shall, within ten (10) days after written demand by Sublessortherefor, deposit cash with Sublessor in and amount sufficient to restore the said Security Deposit deposit to the full amount originally deposited, stated above and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the said Security Deposit deposit separate from its general accounts, and shall have no obligation or liability for payment account. If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the said Security Deposit, or so much thereof as had has not theretofore been applied by Sublessor, shall be returned returned, without payment of interest to sublessee at the expiration of the term hereof, and after Sublessee or has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to the last assignee, if any, of Sublessee's interest hereundersaid Security deposit.

Appears in 3 contracts

Samples: Goldenaccess Com Inc, Goldenaccess Com Inc, Goldenaccess Com Inc

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Fifteen Thousand Two Nine Ninety Eight Hundred Fifty and 40/100ths 12/100 Dollars ($20,250.4015,998.12) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee Sublessor fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten Sublessor within (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, Deposit or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or applied to the last assigneetwo months of the term, if any, of Sublessee's interest hereunder.

Appears in 3 contracts

Samples: Lease Agreement (Maxxis Group Inc), Lease Agreement (Maxxis Group Inc), Maxxis Group Inc

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) hereof $ as security for SublesseeXxxxxxxxx's faithful performance of SublesseeXxxxxxxxx's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, Sublessor, may use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and SublesseeXxxxxxxxx's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid deposit, or so much thereof as had has not theretofore been applied by Sublessor, shall be returned returned, without payment of interest or other increment for its use to Sublessee (or at Sublessor s option, to the last assignee, . if any, of SublesseeXxxxxxxxx's interest hereunder) at the expiration of the term hereof, and after Sublessee has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to said Security Deposit.

Appears in 3 contracts

Samples: Idaho Sublease Agreement, Standard Sublease Agreement, Idaho Sublease Agreement

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) hereof $ as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, Sublessor, may use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid deposit, or so much thereof as had has not theretofore been applied by Sublessor, shall be returned returned, without payment of interest or other increment for its use to Sublessee (or at Sublessor s option, to the last assignee, . if any, of Sublessee's interest hereunder) at the expiration of the term hereof, and after Sublessee has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to said Security Deposit.

Appears in 3 contracts

Samples: Standard Sublease Agreement, Idaho Sublease Agreement, Standard Sublease Agreement

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars (hereof $20,250.40) 3,968.00 as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid deposit, or so much thereof as had has not theretofore been applied by Sublessor, shall be returned returned, without payment of interest or other increment for its use to Sublessee (or at Sublessor's option, to the last assignee, if any, of Sublessee's interest hereunder) at the expiration of the term hereof, and after Sublessee has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to said Security Deposit.

Appears in 3 contracts

Samples: Cumetrix Data Systems Corp, Cumetrix Inc, Cumetrix Data Systems Corp

Security Deposit. Sublessee shall deposit with Sublessor upon execution Lessor acknowledges that Xxxxxx has established, or will prior to the Commencement Date establish, an unconditional, irrevocable letter of this Sublease credit (“Letter of Credit”) for the benefit of Lessor in the sum of Twenty Thousand Two Hundred Fifty ninety-three thousand one hundred and 40/100ths Dollars eighty three dollars and thirty cents ($20,250.4093,183.30) as security for Sublessee's faithful (hereinafter the “Security Deposit”) to secure performance of Sublessee's Xxxxxx’s obligations hereunder hereunder. As set forth herein, Lessor agrees ("a) to transfer said Security Deposit"). If Sublessee fails Deposit to any purchaser of the Building of which the Leased Premises are a part, notify Lessee of that pay over, and to provide Lessee with written acknowledgment by such purchaser subject to the terms of this Lease, provided (i) no Default of Lessee then exists and (ii) said Security Deposit has not been used to correct any default of Lessee, in which event only the balance remaining after Lessor has made itself whole shall be transferred to such purchaser; and (b) to pay rent to Lessee at the expiration or other charges when due under termination of this SubleaseLease said Security Deposit provided (i) no Default of Lessee then exists, or fails (ii) said Security Deposit has not been transferred to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion a purchaser of the Building of which the Leased Premises are a part, and (iii) said Security Deposit for has not been used to correct any Default of Lessee in which event only the payment balance remaining, if any, after Lessor has made itself whole shall be reimbursable to Xxxxxx. In the event that Lessor transfers its interest in the Leased Premises, Lessee shall upon notice from and at no cost to Lessor, deliver to Lessor an amendment to the Letter of Credit or a replacement Letter of Credit naming Xxxxxx’s successor as the beneficiary thereof. Lessee agrees (x) said Security Deposit may be used by Lessor, in addition to any rent other remedy available under the terms of this Lease or other amount then due hereunder by law available to Lessor, to remedy any Default of Lessee, provided, however, Lessor shall be under no obligation to correct any such Default, and unpaid, for the payment may at Lessor’s sole and exclusive election avail itself of any other sum for which Sublessor may become obligated by reason of Sublessee's default remedy available under this Lease or breachotherwise available at law or in equity, or for (y) in the event said Security Deposit is transferred to any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion purchaser of the Security DepositBuilding of which the Leased Premises are a part, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Lessor who has transferred said Security Deposit to the full amount originally depositedshall be released and discharged from all liability of said deposit, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep (z) in the event said Security Deposit separate or any part thereof is used by Lessor to remedy any Default of Lessee, Lessor shall be released and discharged from its general accounts, and all liability for said Security Deposit or such portion thereof as Lessor may have used to correct Lessee’s Default. Lessor shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in to place this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's an interest hereunderbearing account.

Appears in 2 contracts

Samples: Allurion Technologies Holdings, Inc., Allurion Technologies Holdings, Inc.

Security Deposit. Concurrently with Sublessee’s execution of this Sublease, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $424,644.28 as a security deposit ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("the “Security Deposit")”) for the performance by Sublessee of its obligations under this Sublease. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunderis in default, Sublessor may use the Security Deposit, or apply any portion of it, to cure the default or to compensate Sublessor for all damage sustained by Sublessor resulting from Sublessee’s default. Sublessee shall immediately on demand pay to Sublessor a sum equal to the portion of the Security Deposit expended or applied by Sublessor as provided in this Section so as to maintain the Security Deposit in the sum initially deposited with Sublessor. If Sublessee is not in default at the expiration or termination of this Sublease, Sublessor shall return the Security Deposit to Sublessee. Sublessor’s obligations with respect to the Security Deposit are those of a debtor and not a trustee. Sublessor may maintain the Security Deposit separate and apart from Sublessor’s general and other funds or may commingle the Security Deposit with Sublessor’s general and other funds. Sublessor shall not be required to pay Sublessee any interest on the Security Deposit. Sublessee hereby waives the provisions of Section 1950.7 of the California Civil Code and all other provisions of law, now or hereafter in force, which provide that Sublessor may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Sublessee or to clean the Premises. Notwithstanding the foregoing, at any time after the end of the third (3rd) year of the Term of this Sublease, Sublessee may elect to replace the cash Security Deposit with a letter of credit satisfying the terms of this Section, in which case Sublessor will return the cash Security Deposit to Sublessee within ten (10) business days after its receipt of a letter of credit meeting the terms of this Sublease. If Sublessee elects to pursue this option, Sublessee shall provide to Sublessor an unconditional, irrevocable and renewable letter of credit in favor of Sublessor meeting the requirements of this Section below, in the amount of $424,644.28 (“Letter of Credit”). The Letter of Credit will be in the form attached hereto as Exhibit ‘D’, issued by a financial institution satisfactory to Sublessor to be held by Sublessor in accordance with the terms, provisions and conditions of this Sublease. Sublessee shall pay all expenses, points and/or fees incurred by Sublessee in obtaining and maintaining the Letter of Credit. If the Letter of Credit delivered by Sublessee is inconsistent with the form attached hereto as Exhibit ‘D’ (including, without limitation, the wrong name or address for the Beneficiary), Sublessor may so notify Sublessee in writing, in which case Sublessee shall cause the Letter of Credit to be corrected within five (5) business days after such notice. If the issuer of the Letter of Credit is declared to be insolvent by the Federal Deposit Insurance Corporation (or any comparable institution) or becomes a debtor in any case or proceeding under the Bankruptcy Code or any similar law or statute, or ceases to conduct business for any reason, Sublessor may so notify Sublessee, in which case Sublessee shall, within five (5) business days after such notice from Sublessor, provide Sublessor with a new Letter of Credit which otherwise meets the requirements of this Section. The Letter of Credit shall state that an authorized officer or other representative of Sublessor may make demand on Sublessor’s behalf for the principal amount of the Letter of Credit, or any portion thereof, and that the issuing bank must immediately honor such demand, without qualification or satisfaction of any conditions, except the proper identification of the party making such demand. In addition, the Letter of Credit shall indicate that it is transferable in its entirety by Sublessor as beneficiary and that upon receiving written notice of transfer, and upon presentation to the issuing bank of the original Letter of Credit, the issuer or confirming bank will reissue the Letter of Credit naming such transferee as the beneficiary. Sublessee shall be responsible for the payment to the issuing bank of any transfer costs imposed by the issuing bank in connection with any such transfer. If (A) the term of the Letter of Credit held by Sublessor will expire prior to sixty (60) days following the last day of the Term and the Letter of Credit is not extended, or a new Letter of Credit for an extended period of time is not substituted, in either case at least sixty (60) days prior to the expiration of the Letter of Credit, or (B) Sublessee commits a default with respect to any provision of the Master Lease or this Sublease, including the filing of a voluntary petition under Title 11 of the United States Code (i.e., the Bankruptcy Code), or otherwise becomes a debtor in any case or proceeding under the Bankruptcy Code, as now existing or hereinafter amended, or any similar law or statute, Sublessor may (but shall not be required to) draw upon all or any portion of the Security Deposit Letter of Credit, and the proceeds received from such draw shall constitute Sublessor’s property (and not Sublessee’s property or the property of the bankruptcy estate of Sublessee) and Sublessor may then use, apply or retain all or any part of the proceeds (1) for the payment of any rent or other amount then due hereunder and unpaidsum which is in default, (2) to reimburse Sublessor for costs incurred by Sublessor in connection with this Sublease, (3) for the payment of any other sum for amount which Sublessor may spend or become obligated to spend by reason of Sublessee's default or breachsuch default, or (4) to compensate Sublessor for any loss or damage sustained which Sublessor may suffer by Sublessor as a result reason of Sublessee's such default or breach(5) as prepaid rent to be applied against the Base Rent and Additional Rent obligations for the last month of the Term and the immediately preceding month(s) of the Term until the remaining proceeds are exhausted. If Sublessor so uses any portion of the Security DepositLetter of Credit proceeds are so used or applied, Sublessee shall, within ten (10) days after written demand by Sublessortherefor, restore post an additional Letter of Credit in an amount to cause the Security Deposit aggregate amount of the unused proceeds and such new Letter of Credit to equal the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under Stated Amount required in this SubleaseSection above. Sublessor shall not be required to keep any proceeds from the Security Deposit Letter of Credit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Depositfunds. In the event Should Sublessor assigns assign its interest in this Subleasethe Master Lease during the Term and if Sublessor deposits with the assignee thereof the Letter of Credit or any proceeds of the Letter of Credit, thereupon Sublessor shall deliver be discharged from any further liability with respect to its assignee so much the Letter of Credit and said proceeds and Sublessee shall look solely to such transferee for the return of the Security Deposit as is then Letter of Credit or any proceeds therefrom. The Letter of Credit or any remaining proceeds of the Letter of Credit held by Sublessor. Within ten (10) days Sublessor after expiration of the Term has expiredTerm, or Sublessee has vacated the Premises, or after any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then deductions described in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessorthis Section above, shall be returned to Sublessee or or, at Sublessor’s option, to the last assignee, if any, assignee of Sublessee's ’s interest hereunder, within sixty (60) days following the expiration of the Term. The use, application or retention of the Letter of Credit, the proceeds or any portion thereof, shall not prevent Sublessor from exercising any other rights or remedies provided under this Sublease, it being intended that Sublessor shall not be required to proceed against the Letter of Credit, and such use, application or retention of the Letter of Credit shall not operate as a limitation on any recovery to which Sublessor may otherwise be entitled. No trust relationship is created herein between Sublessor and Sublessee with respect to the Letter of Credit. Sublessor and Sublessee acknowledge and agree that in no event or circumstance shall the Letter of Credit, any renewal thereof or substitute therefor or the proceeds thereof be (i) deemed to be or treated as a “security deposit” within the meaning of California Civil Code Section 1950.7, (ii) subject to the terms of such Section 1950.7, or (iii) intended to serve as a “security deposit” within the meaning of such Section 1950.7. The parties hereto (A) recite that the Letter of Credit is not intended to serve as a security deposit and such Section 1950.7 and any and all other laws, rules and regulations applicable to security deposits in the commercial context (“Security Deposit Laws”) shall have no applicability or relevancy thereto and (B) waive any and all rights, duties and obligations either party may now or, in the future, will have relating to or arising from the Security Deposit Laws. Notwithstanding the foregoing, to the extent California Civil Code Section 1950.7 in any way: (a) is applicable to this Lease or the Letter of Credit (or any proceeds thereof); or (b) controls Sublessor’s rights to draw on the Letter of Credit or apply the proceeds of the Letter of Credit to any amounts due under the Lease or any damages Sublessor may suffer following termination of this Lease, then Sublessee fully and irrevocably waives the benefits and protections of Section 1950.7 of the California Civil Code, it being agreed that Sublessor may recover from the Letter of Credit (or its proceeds) all of Sublessor’s damages under this Sublease and California law including, but not limited to, any damages accruing upon the termination of this Sublease in accordance with this Lease and Section 1951.2 of the California Civil Code.

Appears in 2 contracts

Samples: Lease Agreement (Gossamer Bio, Inc.), Lease Agreement (Gossamer Bio, Inc.)

Security Deposit. Upon execution hereof by Sublessee, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty Twenty-Two Thousand Seven Hundred Seven and 40/100ths 68/100 Dollars ($20,250.40222,707.68) (the “Security Deposit”), in cash, as security for Sublessee's faithful the performance by Sublessee of Sublessee's obligations hereunder ("Security Deposit")the terms and conditions of this Sublease. If Sublessee fails to pay rent Rent or other charges when due under hereunder or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, then Sublessor may use draw upon, use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaidcharge in default, for the payment of any other sum for which Sublessor may has become obligated to pay by reason of Sublessee's default or breach’s default, or to compensate Sublessor for any loss or damage sustained which Sublessor has suffered thereby, including future rent damages under California Civil Code Section 1951.2, without prejudice to any other remedy provided herein or by law. Sublessee hereby waives the provisions of any law, now or hereafter in force, including, without limitation, California Civil Code Section 1950.7, that provides that Sublessor as may claim from a result security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Sublessee, or to clean the Subleased Premises, it being agreed that Sublessor, in addition, may claim those sums reasonably necessary to compensate Sublessor for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Sublessee's default or breach, including future rent damages following the termination of this Sublease. If Sublessor so uses or applies all or any portion of the Security Deposit, Sublessee shallthen Sublessee, within ten (10) days after written demand by Sublessortherefor, shall deposit cash with Sublessor in the amount required to restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Subleasestated above. Sublessor shall not be required to keep Upon the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment expiration of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver return to its assignee Sublessee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by SublessorSublessor pursuant to this paragraph, shall be returned or which is not otherwise required to Sublessee or to the last assignee, if any, of cure Sublessee's interest hereunder’s defaults.

Appears in 2 contracts

Samples: Sublease (CARGO Therapeutics, Inc.), Sublease (CARGO Therapeutics, Inc.)

Security Deposit. Sublessee shall deposit Undertenant shall, concurrent with Sublessor upon execution of this Sublease Secondary Sublease, deliver to Underlandlord a security deposit ("Deposit") in the sum amount of Twenty Forty-Six Thousand Two Four Hundred Fifty Sixty-Three and 40/100ths No/00 Dollars ($20,250.4046,453.00) as security for Sublesseerepresenting one (1) month Base Rent. The Deposit shall be held by Underlandlord to insure Undertenant's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any all of its other obligations hereunder, Sublessor may use or apply all or any portion of under the Security Deposit for Secondary Sublease. Underlandlord shall have the payment of any rent or other amount then due hereunder and unpaid, for the payment of right from time to time without prejudice to any other sum for which Sublessor remedy Underlandlord may become obligated by reason of Sublessee's default or breachhave on account hereof, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of to apply the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant part thereof, to Subsection 6.2 hereof has been madeUnderlandlord's damages arising from any uncured default on the part of Undertenant. Provided Undertenant shall have fully and timely complied with all of the terms, whichever covenants and conditions of this sublease, Underlandlord shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, return the Security Deposit, or so much remainder thereof as had not theretofore been applied previously applied, to Undertenant on the expiration or earlier termination of the Term and surrender by Sublessor, shall be returned Undertenant of the Subleased Premises to Sublessee or Underlandlord. Underlandlord may hold the Deposit without any obligation to pay interest thereon and may commingle the last assignee, if any, of SublesseeDeposit with Underlandlord's other funds. If Underlandlord conveys Underlandlord's interest hereunderunder this Secondary Sublease, the Deposit, or any part thereof not previously applied, may be turned over by Underlandlord to Underlandlord's grantee, whereupon, Undertenant agrees to look solely to such grantee for application and return of the Deposit in accordance herewith.

Appears in 2 contracts

Samples: EPIX Pharmaceuticals, Inc., Predix Pharmaceuticals Holdings Inc

Security Deposit. Sublessee Upon execution hereof, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord, in cash, the sum of Twenty Thousand Two Hundred Fifty one hundred thirty-six thousand three hundred eighty-four dollars and 40/100ths Dollars no cents ($20,250.40136,384.00) as security and for Sublesseea Security Deposit to secure Subtenant's faithful full and timely performance of Sublessee's all of its obligations hereunder ("Security Deposit")hereunder. If Sublessee fails Subtenant defaults after notice and the expiration of any cure period, with respect to pay rent or other charges when due under any provision of this Sublease, Sublandlord may (but shall not be obligated to) use, apply, or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become Subtenant is obligated by reason of Sublessee's default or breach, or which will compensate Sublandlord for any loss or damage sustained which Sublandlord may suffer thereby. Any such use, application, or retention shall not constitute a waiver by Sublessor as a result Sublandlord of Sublessee's default its right to enforce its other remedies hereunder, at law, or breachin equity. If Sublessor so uses any portion of the Security Depositsaid deposit is so used, Sublessee applied, or retained, Subtenant shall, within ten (10) days after delivery of written demand by Sublessorfrom Sublandlord, restore the Security Deposit said deposit to the full amount originally deposited, and Sublesseeits original amount. Subtenant's failure to do so shall constitute a default under material breach of this Sublease, and in such event Sublandlord may elect, among or in addition to other remedies, to terminate this Sublease. Sublessor Sublandlord shall not be a trustee of such deposit, and shall not be required to keep the Security Deposit this deposit separate from its general accounts, . Sublandlord alone shall be entitled to any interest or earnings thereon and Sublandlord shall have no obligation or liability for payment the free use of interest on the Security Depositsame. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, If Subtenant fully and provided Sublessee is not then in default of any faithfully performs all of its obligations hereunder, the Security Deposit, or then so much thereof of the deposit as had not theretofore been applied by Sublessor, remains shall be returned to Sublessee Subtenant (without payment of interest or earnings thereon) within thirty (30) days after the later of (i) expiration or sooner termination of the tern of this Sublease; or (ii) Subtenant's surrender of possession of the Subleased Premises to the last assignee, if any, of Sublessee's interest hereunderSublandlord.

Appears in 2 contracts

Samples: Sublease Agreement (Advanced Semiconductor Engineering Inc), Sublease Agreement (Ase Test LTD)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Sixteen Thousand, Five Hundred Fifty Seventy-Four and 40/100ths 15/100 Dollars ($20,250.40) 16,574.15 as security for Sublessee's ’s faithful performance of Sublessee's ’s obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's ’s default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's ’s default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's ’s failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest Interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's ’s interest hereunder.

Appears in 2 contracts

Samples: GenuTec Business Solutions, Inc., GenuTec Business Solutions, Inc.

Security Deposit. Sublessee Subtenant, concurrently with signing this Sublease, shall deposit with Sublessor upon execution pay to Sublandlord a Security Deposit in the amount of this Sublease $28,882.00 to be held to guarantee the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance by Subtenant of Sublesseeall of Subtenant's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease. The Security Deposit may be commingled with Sublandlord's other funds and any interest or other income earned thereon shall be the property of Sublandlord. If Subtenant defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor Sublandlord may use or apply all expend the whole or any portion part of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor Sublandlord may become obligated expend by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachsuch default. If Sublessor so uses any portion or all of the Security DepositDeposit is so used, Sublessee Subtenant shall, within ten (10) days after written demand by Sublessortherefor, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the full its original amount originally deposited, and Sublessee's failure to do so shall constitute be a default under breach of this Sublease. Sublessor Provided no event of default has occurred and is continuing under this Sublease on the later of (a) the first anniversary of the Commencement Date, or (b) the expiration of all contingencies and termination rights under this Sublease (as set forth in Sections 36 and 37), Sublandlord shall not be required to keep return the Security Deposit separate to Subtenant within fifteen (15) days after Sublandlord's receipt of notice from its general accountsSubtenant that each of the foregoing conditions have been met, together with any evidence reasonably required by Sublandlord that all contingencies have been satisfied and all termination rights have expired. In the event of a transfer of Sublandlord's interest in the Building, Sublandlord may pay over the Security Deposit to Sublandlord's transferee to be held under the terms of this Sublease and Sublandlord shall have no obligation or be released from all liability for payment the return of interest on the Security Deposit. In Under no circumstances shall Subtenant have the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver right to its assignee so much of direct that the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been be applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, payment of Sublessee's interest hereunderRent.

Appears in 2 contracts

Samples: Sublease Agreement (Privatebancorp Inc), Sublease Agreement (Privatebancorp Inc)

Security Deposit. Sublessee Upon execution hereof, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord the sum of Twenty Ninety-Eight Thousand Two Four Hundred Fifty Thirty-Three Dollars and 40/100ths Dollars 19/100 ($20,250.4098,433.19) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"), in cash, as security for the performance by Subtenant of the terms and conditions of this Sublease. If Sublessee Subtenant fails to pay rent Rent or other charges when due under this Sublease or otherwise defaults with respect to any provision of this Sublease, then Sublandlord, without prejudice to any other remedy provided in this Sublease or fails to perform any of its other obligations hereunderby law, Sublessor may use draw upon, use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaidcharge in default, for the payment of any other sum for which Sublessor may Sublandlord has become obligated to pay by reason of SublesseeSubtenant's default or breachdefault, or to compensate Sublandlord for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachwhich Sublandlord has suffered thereby. If Sublessor Sublandlord so uses or applies all or any portion of the Security Deposit, Sublessee shallthen Subtenant, within ten (10) days after written demand by SublessorSublandlord therefor, shall deposit cash with Sublandlord in the amount required to restore the Security Deposit to the full amount originally deposited, stated above. Sublandlord may commingle the Security Deposit with its own funds and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor Subtenant shall not be required entitled to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In The Security Deposit is not an advance rental deposit or a measure of damages incurred by Sublandlord in case of Subtenant's default. Upon the event Sublessor assigns its interest expiration of this Sublease and Subtenant's vacation of the Premises, provided Subtenant is not in default under the terms of this Sublease, Sublessor Sublandlord shall deliver return to its assignee Subtenant so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by SublessorSublandlord pursuant to this Paragraph, shall be returned or which is not otherwise required to Sublessee or to the last assignee, if any, of Sublesseecure Subtenant's interest hereunderdefaults.

Appears in 2 contracts

Samples: Sublease (Adforce Inc), Sublease (Adforce Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars (hereof $20,250.40) 25,000.00 as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent Rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent Rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore forward to Sublessor an amount sufficient to restore the Security said Deposit to the full amount originally deposited, provided for herein and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security said Deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security said Deposit, or so much thereof as had has not theretofore therefore been applied by Sublessor, shall be returned returned, without payment of Interest to Sublessee (or at Sublessor's option, to the last assignee, if any, of Sublessee's interest hereunder) at the expiration of the term hereof, and after Sublessee has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to said Security Deposit.

Appears in 2 contracts

Samples: Vixel Corp, Emulex Corp /De/

Security Deposit. Sublessee Sub-Subtenant may, in its sole discretion, (i) provide a cash Security Deposit in lieu of the Letter of Credit prior to the issuance of a Letter of Credit, or (ii) at any time, substitute a cash Security Deposit for the Letter of Credit, and upon such substitution, Sub-Sublandlord shall return the Letter of Credit to Sub-Subtenant within (5) business days after Sub-Sublandlord’s receipt of the cash Security Deposit. In the event Sub-Sublandlord holds any cash security deposit with Sublessor upon execution of this (the “Security Deposit”) from time to time during the Sub-Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) Term, as security for Sublessee's the faithful performance by Sub-Subtenant of Sublessee's obligations hereunder ("Security Deposit")all the terms, covenants, and conditions of this Sub-Sublease to be kept and performed by Sub-Subtenant during the Sub-Sublease Term, this Section 4.6.5 shall apply. If Sublessee Sub-Subtenant fails to pay rent Rent or other charges when sums due under hereunder, or otherwise is in breach with respect to any provisions of this Sub-Sublease, Sub-Sublandlord may use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit for the payment of any rent past due sum or other amount then due hereunder and unpaid, for the payment of any other sum for to which Sublessor Sub-Sublandlord may become obligated by reason of Sublessee's default or Sub-Subtenant’s breach, or to compensate Sub-Sublandlord for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachwhich Sub-Sublandlord may suffer thereby. If Sublessor Sub-Sublandlord so uses or applies all or any portion of the Security Deposit, Sublessee shall, Sub-Subtenant shall within ten (10) days after written demand by Sublessor, therefor deposit cash with Sub-Sublandlord in an amount sufficient to restore the Security Deposit to the full amount originally deposited, thereof and Sublessee's Sub-Subtenant’s failure to do so shall constitute be a default under material breach of this Sub-Sublease. Sublessor If Sub-Subtenant performs all of Sub-Subtenant’s obligations hereunder, the Security Deposit, or so much thereof as has not theretofore been applied by Sub-Sublandlord, shall be returned, without interest, to Sub-Subtenant (or, at Sub-Sublandlord’s option, to the last assignee, if any, of Sub-Subtenant’s interest hereunder) within sixty (60) days following the later to occur of (a) the expiration of the Term, and (b) Sub-Subtenant’s vacation from the Sub-Sublease Premises and completion of all removal, repair and restoration obligations. No trust relationship is created herein between Sub-Sublandlord and Sub-Subtenant with respect to the Security Deposit. Sub-Sublandlord shall not be required to keep the Security Deposit separate from its general other accounts. Sub-Subtenant hereby waives any and all rights under and the benefits of Section 1950.7 of the California Civil Code, and shall have no obligation all other provisions of law now in force or liability for payment that become in force after the date of interest on the Security Deposit. In the event Sublessor assigns its interest in execution of this Sub-Sublease, Sublessor shall deliver that provide that Sub-Sublandlord may claim from a security deposit only those sums reasonably necessary to its assignee so much of the Security Deposit as is then held remedy any failure to timely pay Rent, to repair damage caused by Sublessor. Within ten (10) days after the Term has expiredSub-Subtenant, or Sublessee has vacated to clean the Sub-Sublease Premises. Sub-Sublandlord and Sub-Subtenant agree that Sub-Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sub-Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Sub-Subtenant or Sub-Subtenant’s officers, agents, employees, independent contractors, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderinvitees.

Appears in 2 contracts

Samples: Sub Sublease (Carmot Therapeutics Inc.), Sub Sublease (Carmot Therapeutics Inc.)

Security Deposit. Sublessee Concurrently with the execution of this Sublease, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord the sum of Twenty Two Thousand Two Hundred Fifty and 40/100ths Ninety-Four Dollars ($20,250.402,294) ("Deposit"), which shall be held by Sublandlord as security for Sublessee's the full and faithful performance by Subtenant of Sublessee's its covenants and obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease. Effective on the Area 2 Sublease Commencement Date, Subtenant shall deposit with Sublandlord an amount sufficient to increase the Deposit to the sum of Six Thousand Five Hundred Fifty-Seven and Eighty-Eight One Hundredths Dollars ($6,557.88). The Deposit is not an advance Rent deposit, an advance payment of any other kind, or fails a measure of Sublandlord's damage in case of Subtenant's default. If Subtenant defaults in the full and timely performance of any or all of Subtenant's covenants and obligations set forth in this Sublease, then Sublandlord may, from time to perform time, without waiving any of its other obligations hereunderremedy available to Sublandlord, Sublessor may use or apply all the Deposit, or any portion of it, to the Security Deposit for extent necessary to cure or remedy the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, to compensate Sublandlord for all or for any loss or damage a part of the damages sustained by Sublessor as a result of SublesseeSublandlord resulting from Subtenant's default or breachdefault. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, Subtenant shall immediately pay to Sublandlord within ten five (105) days after written demand by Sublessorfollowing demand, the amount so applied in order to restore the Security Deposit to the full amount originally depositedits original amount, and SublesseeSubtenant's failure to immediately do so shall constitute a default under this Sublease. Sublessor If Subtenant is not in default with respect to the covenants and obligations set forth in this Sublease at the expiration or earlier termination of the Sublease, Sublandlord shall return the Deposit to Subtenant after the expiration or earlier termination of this Sublease. Sublandlord's obligations with respect to the Deposit are those of a debtor and not a trustee. Sublandlord shall not be required to keep maintain the Security Deposit separate and apart from its Sublandlord's general accounts, or other funds and Sublandlord may commingle the Deposit with any of Sublandlord's general or other funds. Subtenant shall have no obligation or liability for payment of not at any time be entitled to interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 2 contracts

Samples: Sublease Agreement (Collateral Therapeutics Inc), Sublease Agreement and Furniture Rental Agreement (Collateral Therapeutics Inc)

Security Deposit. Sublessee shall deposit with pay to Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $38,185.00 ($20,250.40“Security Deposit”) as security for Sublessee's faithful the full and timely payment and performance of Sublessee's ’s obligations hereunder under this Sublease. Sublessee shall deliver the Security Deposit to Sublessor upon the execution hereof. Sublessor shall have no obligation to segregate the Security Deposit from Sublessor’s other funds. The Security Deposit shall be refunded to Sublessee, without interest, within thirty ("Security Deposit")30) days after the termination of this Sublease subject to Sublessee’s satisfactory compliance with the conditions of this Sublease and subject to deduction for payment of Sublessee’s obligations not then fulfilled by Sublessee. If Sublessee fails to pay rent or other charges when due perform in a full and timely manner any of its obligations under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of toward curing any rent or other amount then due hereunder such default under this Sublease (beyond any applicable notice and unpaid, for the payment of any other sum for which cure periods) and compensating Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss loss, damage or damage sustained by Sublessor as a result of Sublessee's default or breachexpenses arising from such default. If Sublessor so uses applies any portion of the Security Deposit, Sublessee shall, shall pay to Sublessor the amount necessary to restore the Security Deposit to its original amount within ten five (105) days after written demand by Sublessor, restore and failure to do so within five (5) days after written demand shall be deemed an automatic Event of Default hereunder. Sublessee may not use the Security Deposit to the full amount originally depositedpay any of Sublessee’s payment obligations, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor Sublessee shall not be required have the right to keep the Security Deposit separate from its general accountsmortgage, and shall have no obligation transfer, assign or liability for payment of interest on encumber the Security Deposit. In the event Sublessor assigns its Sublessee acknowledges that Sublessee has no interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then paid by Sublessor to Landlord under the Lease (“Original Security Deposit”), which Original Security Deposit shall continue to be held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or Landlord subject to the last assignee, if any, terms of Sublessee's interest hereunderthe Lease.

Appears in 2 contracts

Samples: Sublease (Chiasma, Inc), Sublease (Chiasma, Inc)

Security Deposit. Sublessee shall deposit with Sublessor the sum of One Hundred Ninety-One Thousand Seven Hundred Ninety-Three and 32/100ths Dollars ($191,793.32) (the “Security Deposit”) upon Sublessee’s execution of this Sublease as a security deposit for the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance by Sublessee of Sublessee's obligations hereunder ("Security Deposit")all of the terms, covenants and conditions of this Sublease to be kept and performed by Sublessee during the Term hereof. Sublessee expressly waives the provisions of Civil Code section 1950.7. If Sublessee fails defaults with respect to pay rent or other charges when due under any provision of this Sublease, including, but not limited to, the provisions relating to payment of Base Rent or fails to perform any of its other obligations monetary sums due hereunder, Sublessor may (but shall not be required to) use or apply all or any portion of the Security Deposit for the payment of any rent such unpaid Base Rent or other amount then due hereunder and unpaid, for the payment of or any other sum for which sums that Sublessor may become obligated spend by reason of Sublessee's ’s default or breach, or to compensate Sublessor for any other loss or damage sustained that Sublessor may suffer by Sublessor as a result reason of Sublessee's default or breach’s default. If Sublessor so uses any portion of the Security DepositDeposit is so used or applied, Sublessee shall, within ten (10) days after written demand by Sublessortherefore, deposit cash with Sublessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, and its original amount; Sublessee's ’s failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, funds and Sublessee shall have no obligation or liability for payment not be entitled to interest thereon. If Sublessee shall fully and faithfully perforin every provision of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver Sublease to its assignee so much of the Security Deposit as is then held be performed by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunderSublessee, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessorany balance thereof, shall be returned to Sublessee or to at the last assignee, if any, expiration of Sublessee's interest hereunderthe Term of this Sublease and after Sublessee has vacated the Subleased Premises. Under no circumstances shall the Security Deposit be interpreted as being part of Base Rent.

Appears in 2 contracts

Samples: Sublease (Invitae Corp), Sublease (Invitae Corp)

Security Deposit. Sublessee shall deposit has deposited with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $60.000.00 ($20,250.40the “Security Deposit”) as security for Sublessee's the faithful performance and observance by Sublessee of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under the terms, provisions and conditions of this Sublease, or fails to perform . The Security Deposit shall not bear interest. In the event Sublessee defaults in respect of any of its other obligations hereunderthe terms, provisions or conditions of this Sublease including, but not limited to, the payment of Base Rent or Additional Rent, Sublessor may use use, apply or apply all retain the whole or any portion part of the Security Deposit to the extent required for the payment of any rent Base Rent or other amount then due hereunder and unpaid, for the payment of Additional Rent or any other sum as to which Sublessee is in default or for any sum which Sublessor may become obligated expend or be required to expend by reason of Sublessee's ’s default including, but not limited to, any damage or deficiency in the re-letting of the Premises, whether such damage or deficiency accrued before or after summary proceedings or other re-entry by Sublessor. In the event that Sublessee shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of this Sublease, the Security Deposit (less any Base Rent, Additional Rent or any other sum as to which Sublessee is in default or breach, or for any loss or damage sustained sum which Sublessor shall have expended by reason of Sublessee’s default) shall be returned to Sublessee within thirty (30) days after the end of the Term and after Sublessee’s delivery of possession of the entire Premises to Sublessor. In the event of a transfer by Sublessor as a result of Sublessee's default or breach. If Sublessor’s rights under the Prime Lease, Sublessor so uses any portion shall have the right to transfer the Security Deposit to the transferee and, upon such transfer of the Security Deposit, Sublessor shall be released by Sublessee shall, within ten (10) days after written demand by Sublessor, restore from all liability for the return of the Security Deposit and Sublessee shall look solely to said transferee for the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment return of interest on the Security Deposit. In Sublessee shall not assign or encumber or attempt to assign or encumber the event monies deposited hereunder as security and neither Sublessor nor its successors or assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee bound by any such assignment, encumbrance, attempted assignment or to the last assignee, if any, of Sublessee's interest hereunderattempted encumbrance.

Appears in 2 contracts

Samples: Sublease (2U, Inc.), Sublease (2U, Inc.)

Security Deposit. On the Commencement Date, Sublessee shall pay to Sublessor a security deposit with Sublessor upon execution in the amount of this Sublease $ 15,833.33 (the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaidcharge in default, or for the payment of any other sum for which Sublessor may become obligated incurs by reason of Sublessee's default or breach’s default, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Deposit, Sublessee shall, must within ten (10) days after written demand by Sublessor, therefor deposit cash with Sublessor in an amount sufficient to restore the Security Deposit to the its full amount originally deposited, and Sublessee's ’s failure to do so shall constitute will be a default under material breach of this Sublease. Sublessor shall not not, unless otherwise required by law, be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of nor pay interest on the Security DepositDeposit to Sublessee. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much If Sublessee performs all of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee’s obligations hereunder, the Security Deposit, Deposit or so much thereof as had has not theretofore been used or applied by Sublessor, shall will be returned to Sublessee (or at Sublessor’s option, to the last assignee, if any, of Sublessee's ’s interest hereunder) at the expiration or other termination of the Sublease Term, and after Sublessee has vacated the Subleased Premises. The obligation to return the Security Deposit upon termination of the Sublease shall survive termination of this Sublease.

Appears in 2 contracts

Samples: Lease (Argos Therapeutics Inc), Lease (Argos Therapeutics Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon ---------------- execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars hereof TWENTY THOUSAND FOUR HUNDRED AND NO/100 DOLLARS ($20,250.4020,400.00) as ------------------------------------------------------------ security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")under this Sublease. If Sublessee fails to pay rent any Rental due hereunder, or other charges when due under otherwise defaults with respect to any provisions of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent Rental in default or other amount then due hereunder and unpaid, for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit sufficient cash with Sublessor in the amount needed to restore the Security Deposit said deposit to the full amount originally deposited, deposited prior to the application of said funds and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, accounts and no interest or earnings shall have be paid by Sublessor with respect to such security deposit. If no obligation default of Sublessee under this Sublease or liability for payment of interest the Prime Lease remains outstanding and uncured on the Security Deposit. In the event Sublessor assigns its interest in expiration date of this Sublease, Sublessor shall deliver to its assignee so much then any remaining balance of the Security Deposit as is then held security deposit shall be returned by Sublessor. Within ten Sublessor to Sublessee within thirty (1030) days after the Term has expired, later of the expiration date of this Sublease or the date Sublessee has vacated surrendered possession of the Premises, or any final adjustment pursuant entire Subleased Premises to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then Sublessor in default accordance with the terms of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderthis Sublease.

Appears in 2 contracts

Samples: Extension Agreement (Atroad Inc), Extension Agreement (Atroad Inc)

Security Deposit. Sublessee Subtenant shall deposit with Sublessor Sublandlord upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars twenty-five thousand twenty dollars ($20,250.4025,020.00) as security for SublesseeSubtenant's faithful performance of SublesseeSubtenant's obligations hereunder ("Security Deposit"). If Sublessee Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor Sublandlord may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor Sublandlord may become obligated by reason of SublesseeSubtenant's default or breach, or for any loss or damage sustained by Sublessor Sublandlord as a result of SublesseeSubtenant's default or breach. If Sublessor Sublandlord so uses any portion of the Security Deposit, Sublessee Subtenant shall, within ten (10) days after written demand by SublessorSublandlord, restore the Security Deposit to the full amount originally deposited, and SublesseeSubtenant's failure to do so shall constitute a default under this Sublease. Sublessor Sublandlord shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor Sublandlord assigns its interest in this Sublease, Sublessor Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by SublessorSublandlord. Within ten (10) days after the Term has expired, or Sublessee Subtenant has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 7.3 hereof has been made, whichever shall last occur, and provided Sublessee Subtenant is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by SublessorSublandlord, shall be returned to Sublessee Subtenant or to the last assignee, if any, of SublesseeSubtenant's interest hereunder.

Appears in 2 contracts

Samples: Covad Communications Group Inc, Covad Communications Group Inc

Security Deposit. Sublessee shall will deposit with Sublessor upon on execution of this Sublease sublease the sum of Twenty Thirteen Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.4013,000) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")under this Sublease. If Sublessee fails to pay rent or other charges when due under this Subleasedue, or fails to perform any of its other obligations hereunderunder this Sublease, Sublessor may use or apply all or any portion of the Security Deposit security deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason because of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Depositsecurity deposit, Sublessee shallwill, within ten (10) days after written demand by Sublessor, restore the Security Deposit security deposit to the full amount originally deposited, and . Sublessee's failure to do so shall will constitute a default under this Sublease. Sublessor shall will not be required to keep the Security Deposit separate from its general accounts, and shall will have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, expired or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occuroccurs last, and provided that Sublessee is not then in default of any of its obligations hereunderunder this Sublease, the Security Depositsecurity deposit, or so as much thereof as had remains that has not theretofore been applied by Sublessor, shall will be returned to Sublessee. Sublessee or shall have the right to apply any portion of the security deposit in payment of the last assignee, if any, of Sublesseemonth's interest hereunderrent.

Appears in 2 contracts

Samples: Sublease Agreement (Zapworld Com), Sublease Agreement (Zapworld Com)

Security Deposit. Sublessee Within ten (10) business days of a fully executed copy of the Consent being delivered to Subtenant, Subtenant shall deposit with Sublessor upon execution Sublandlord the sum of $214,123.75 (the “Security Deposit”). The Security Deposit shall be held by Sublandlord as security for the faithful performance by Subtenant of all the provisions of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")to be performed or observed by Subtenant. If Sublessee Subtenant fails to pay rent Rent, or other charges when due under otherwise is in breach with respect to any provisions of this Sublease. Sublandlord may use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit for the payment of any rent past due sum or other amount then due hereunder and unpaid, for the payment of any other sum for to which Sublessor Sublandlord may become obligated by reason of Sublessee's default or Subtenant’s breach, or to compensate Sublandlord for any loss or damage sustained by Sublessor as which Sublandlord actually and directly suffers thereby following written notice specifying the breach and allowing Subtenant 10 business days to cure such breach (unless the breach in question is one which, under applicable law, delivery of a result notice of Sublessee's breach or default is not permitted, for instance a bankruptcy filing or breachsimilar proceeding, in which event no such notice or cure period shall be necessary). If Sublessor Sublandlord so uses or applies all or any portion of the Security Deposit, Sublessee shall, Subtenant shall within ten (10) business days after written demand by Sublessor, therefor deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the full amount originally deposited, thereof and Sublessee's Subtenant’s failure to do so shall constitute be a default under material breach of this Sublease. Sublessor If Subtenant performs all of Subtenant’s obligations hereunder, the Security Deposit, or so much thereof as has not theretofore been applied by Sublandlord, shall be returned, without interest, to Subtenant (or, at Sublandlord’s option, to the last assignee, if any, of Subtenant’s interest hereunder) within forty five (45) days following the later to occur of (a) the expiration of the Term, and (b) Subtenant’s vacation from the Subleased Premises and completion of surrender of the Subleased Premises as described in Section 14(a) of this Sublease; provided, however, Subtenant acknowledges that in addition to any other deductions Sublandlord is entitled to make pursuant to the terms hereof. Sublandlord shall have the right to make a good faith estimate of any unreconciled Operating Costs as of the Expiration Date and to deduct any anticipated shortfall from the Security Deposit prior to returning the Security Deposit, if any, to Subtenant in accordance herewith. No trust relationship is created herein between Sublandlord and Subtenant with respect to the Security Deposit. Sublandlord shall not be required to keep the Security Deposit separate from its general other accounts. Subtenant hereby waives any and all rights under and the benefits of Section 1950.7 of the California Civil Code, and shall have no obligation all other provisions of law now in force or liability for payment that become in force after the date of interest on the Security Deposit. In the event Sublessor assigns its interest in execution of this Sublease, Sublessor shall deliver that provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to its assignee so much of the Security Deposit as is then held remedy any failure to timely pay Rent, to repair damage caused by Sublessor. Within ten (10) days after the Term has expiredSubtenant, or Sublessee has vacated to clean the Subleased Premises. Subject to the provisions of Section 12(a), Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other actual, direct, reasonable and foreseeable loss or damage to the extent caused by the act or omission of Subtenant or Subtenant’s officers, agents, employees, independent contractors, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderinvitees.

Appears in 2 contracts

Samples: Rubrik, Inc., Rubrik, Inc.

Security Deposit. Sublessee A. In addition, upon the execution hereof by Subtenant, Subtenant shall deposit with Sublessor upon execution Sublandlord a check in the amount of this Sublease the sum of Twenty Sixty Six Thousand Two One Hundred Fifty and 40/100ths No/100 Dollars ($20,250.4066,100.00) (“Security Deposit”) as security for Sublessee's the faithful performance and observance by Subtenant of Sublessee's obligations hereunder ("Security Deposit")the terms of this Sublease. If Sublessee fails to pay rent Subtenant defaults in the full and prompt payment or performance of any of Subtenant’s covenants and obligations under this Sublease (beyond any applicable notice and period of cure), including, but not limited to, the payment of Fixed Rent and Additional Rent, Sublandlord may, but shall not be required to, use, apply or retain the whole or any part of the security so deposited and the interest accrued thereon, if any, including for any sum which Sublandlord shall have expended by reason of Subtenant’s default in respect of any of the terms, covenants and conditions of this Sublease, whether accruing before or after summary proceedings or other charges when due re-entry by Sublandlord. If Sublandlord shall so use, apply or retain the whole or any part of the security or the interest accrued thereon, if any, Subtenant shall within ten days of written demand immediately deposit with Sublandlord a sum equal to the amount so used, applied or retained, as security as aforesaid failing which Sublandlord shall have the same rights and remedies as for the non-payment of Fixed Rent beyond the applicable notice and cure period. If Subtenant shall fully and faithfully comply with all of Subtenant’s covenants and obligations under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all the security or any portion of balance thereof, with the Security Deposit for the payment of any rent interest actually earned thereon, shall be returned or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, paid over to Subtenant within ten thirty (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (1030) days after the Term has expired, or Sublessee has vacated date fixed as the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default end of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderthis Sublease.

Appears in 2 contracts

Samples: Sublease (Groupon, Inc.), Sublease (Groupon, Inc.)

Security Deposit. Sublessee shall deposit with Sublessor upon Upon execution of this Sublease Sublease, Subtenant shall deliver to Sublandlord the sum of Twenty One Hundred Sixty-One Thousand Two Four Hundred Fifty and 40/100ths No/100 Dollars ($20,250.40161,400.00) as security for Sublessee's faithful the performance of SublesseeSubtenant's obligations hereunder under this Sublease ("Security Deposit"). If Sublessee Subtenant fails to pay rent Rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor Sublandlord may use or apply all or any the portion of the Security Deposit required for the payment of any rent Rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor Sublandlord may become obligated by reason of SublesseeSubtenant's default or breach, or for any loss or damage sustained by Sublessor Sublandlord as a result of SublesseeSubtenant's default or breach. If Sublessor Sublandlord so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, Subtenant shall restore the Security Deposit to the full amount originally deposited, and Sublesseedeposited within ten (10) days after receipt of Sublandlord's failure to do so shall constitute a default under this Subleasewritten demand therefor. Sublessor Sublandlord shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the The Security Deposit, or so much thereof as had not theretofore been applied by SublessorSublandlord, shall be returned to Sublessee Subtenant within thirty (30) days of the expiration or to earlier termination of this Sublease, provided Subtenant has vacated the last assignee, if any, Sublease Premises in accordance with the terms of Sublessee's interest hereunderthis Sublease.

Appears in 2 contracts

Samples: Diadexus Inc, Virologic Inc

Security Deposit. Sublessee Upon execution hereof, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord, in cash, the sum of Twenty Thousand Two Hundred Fifty seventy thousand three hundred thirty-four dollars and 40/100ths Dollars no cents ($20,250.4070,334.00) as security and for Sublesseea Security Deposit to secure Subtenant's faithful full and timely performance of Sublessee's all of its obligations hereunder ("Security Deposit")hereunder. If Sublessee fails Subtenant defaults after notice and the expiration of any cure period, with respect to pay rent or other charges when due under any provision of this Sublease, Sublandlord may (but shall not be obligated to) use, apply, or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become Subtenant is obligated by reason of Sublessee's default or breach, or which will compensate Sublandlord for any loss or damage sustained which Sublandlord may suffer thereby. Any such use, application, or retention shall not constitute a waiver by Sublessor as a result Sublandlord of Sublessee's default its right to enforce its other remedies hereunder, at law, or breachin equity. If Sublessor so uses any portion of the Security Depositsaid deposit is so used, Sublessee applied, or retained, Subtenant shall, within ten (10) days after delivery of written demand by Sublessorfrom Sublandlord, restore the Security Deposit said deposit to the full amount originally deposited, and Sublesseeits original amount. Subtenant's failure to do so shall constitute a default under material breach of this Sublease, and in such event Sublandlord may elect, among or in addition to other remedies, to terminate this Sublease. Sublessor Sublandlord shall not be a trustee of such deposit, and shall not be required to keep the Security Deposit this deposit separate from its general accounts, . Sublandlord alone shall be entitled to any interest or earnings thereon and Sublandlord shall have no obligation or liability for payment the free use of interest on the Security Depositsame. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, If Subtenant fully and provided Sublessee is not then in default of any faithfully performs all of its obligations hereunder, the Security Deposit, or then so much thereof of the deposit as had not theretofore been applied by Sublessor, remains shall be returned to Sublessee Subtenant (without payment of interest or earnings thereon) within thirty (30) days after the later of (i) expiration or sooner termination of the term of this Sublease; or (ii) Subtenant's surrender of possession of the Subleased Premises to the last assignee, if any, of Sublessee's interest hereunderSublandlord.

Appears in 2 contracts

Samples: Sublease Agreement (Advanced Semiconductor Engineering Inc), Sublease Agreement (Ase Test LTD)

Security Deposit. 4.1 Sublessee shall deposit with Sublessor upon the execution of this Sublease hereof the sum of Twenty One Hundred One Thousand Two Eight Hundred Fifty and 40/100ths Seventy-five Dollars ($20,250.40101,875) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten fifteen (1015) days after written demand by Sublessor, therefor deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, herein above stated and Sublessee's failure to do so shall constitute be a default under breach of this Sublease, and Sublessor may at his option terminate this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, Said deposit or so much thereof as had not theretofore been applied by Sublessor, Sublessor shall be returned without payment of interest for its use, to Sublessee within ten (10) days after the expiration of the term hereof (or earlier termination of the Sublease if Sublessee does not have any remaining contractual obligations to Sublessor), or after Sublessee has vacated the last assigneePremises, if any, of Sublessee's interest hereunderwhichever is later.

Appears in 2 contracts

Samples: Lease (Accelgraphics Inc), Sublease Agreement (C Cube Microsystems Inc)

Security Deposit. Sublessor shall surrender all rights to the deposit held by Hitachi Corporation as of July 1, 2005 to Sublessee, and Sublessee shall assume the right to recover said deposit at the end of the Sublease term. As a result of such surrender, Sublessee has established a deposit with Sublessor upon execution Hitachi, of this Sublease the sum of Twenty Thirty Two Thousand Two Three Hundred Fifty Seventy-Three and 40/100ths 33/100 Dollars ($20,250.4032,373.33) as security for Sublessee's faithful performance of Sublessee's obligations hereunder hereunder. Said Security Deposit (including interim returns of the deposit as cited in Item 2 of Exhibit "Security DepositA"). ) shall be returned to Sublessee according to the schedule in Exhibit "A." If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, Hitachi, may use, apply, or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor Hitachi may become obligated by reason of Sublessee's default or breachdefault, or to compensate Hitachi for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachwhich Hitachi may suffer thereby. If Sublessor Hitachi so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit cash with Hitachi in an amount sufficient to restore the Security Deposit said deposit to the full amount originally depositedhereinabove stated, and Sublessee's failure to do so shall constitute be a default under breach of this Sublease, and Sublessor may at its option terminate this Sublease. Sublessor Hitachi shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid deposit, or so much thereof as had not theretofore been applied by SublessorHitachi, shall be returned returned, without payment of interest for its use, to Sublessee within ten (10) days after the expiration of the Sublease term. Sublessor will receive THIRTY TWO THOUSAND THREE HUNDRED SEVENTY THREE AND 33/100 Dollars ($32,373.33) from Sublessee on July 1, 2005 provided that possession of the Premises shall have passed to Sublessee on or to before that date and be continuing. This will be the last assigneeequivalent of the security deposit being held by Hitachi as of July 1, if any, of Sublessee's interest hereunder2005.

Appears in 1 contract

Samples: Second Sublease Agreement (Internet Commerce Corp)

Security Deposit. On or prior to the Commencement Date, Sublessee shall deposit with Sublessor upon execution the sum of $230,033.33 as security for the full and faithful performance of every provision of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for to be performed by Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails defaults, with respect to pay rent or other charges when due under any provision of this Sublease, or fails including but not limited to perform any the provisions relating to the payment of its other obligations hereunderRent, Sublessor may use use, apply or apply retain all or any portion part of the Security Deposit said security deposit for the payment of any rent Rent and any other sum in default or other amount then due hereunder and unpaid, for the payment of any other sum for amount which Sublessor may spend or become obligated to spend by reason of Sublessee's default or breach, or to compensate Sublessor for any other loss or damage sustained which Sublessor may suffer by Sublessor as a result reason of Sublessee's default or breachdefault. Provided Sublessor does not deposit the security deposit in an interest bearing account, Sublessee shall not be entitled to interest on any security deposit. If Sublessor so uses any portion of elects to deposit the Security Depositsecurity deposit in an interest bearing account, Sublessee shallshall be entitled to the accrued interest. If Sublessee shall fully and faithfully perform every provision of this Sublease to be performed by it, within ten or shall timely cure any and all defaults, said security deposit or any balance thereof shall be returned to Sublessee upon the date which is thirty (1030) days after written demand by Sublessor, restore the Security Deposit to expiration of the full amount originally deposited, Sublease Term and Sublessee's failure to do so shall constitute a default under this Subleasevacation of the Premises. Notwithstanding the forgoing and provided that (i) Sublessor shall has not be required to keep the Security Deposit separate from its general accountsthen used, and shall have no obligation applied or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much retained any part of the Security Deposit as is then held by Sublessor. Within ten provided under the terms of this Sublease and (10ii) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default under this Sublease, Sublessee shall be entitled to receive partial refunds of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to Deposit in the last assignee, if any, amount of Sublessee's interest hereunder$57,508.33 on the first and third anniversaries of the Commencement Date.

Appears in 1 contract

Samples: Sublease Agreement (Web Street Inc //)

Security Deposit. Sublessee shall Tenant has paid a full deposit with Sublessor upon execution of this Sublease Blackstone Management in the sum of Twenty One Thousand Two Nine Hundred Fifty and 40/100ths Dollars Seventy-Five 00/100 ($20,250.401,975.00), which sum does not exceed two (2) month’s rent which is to be held as collateral security for Sublessee's faithful performance and applied on any charge that may remain due and owing at the expiration of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails this agreement, and extension or holding over period or applied on any damages to pay rent the premises caused by the Tenant, his family, invitees, employees, trades people or pets, or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of expenses suffered by the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor Landlord as a result of Sublessee's default a breach of any covenant of this lease. Tenant may not utilize the security deposit as rent nor shall he deduct the same from the last month’s rent not require a the Landlord to indemnify itself from said sum of money or breach. If Sublessor so uses any portion part of the Security Depositsaid security deposit shall have been utilized by Agent on behalf of the Landlord in accordance with the terms hereof or applicable law, Sublessee shallthe Tenant shall upon the delivery of notice of same immediately deposit with the Agent, the amount so applied by Agent so that Agent shall have the full deposit on have at all times during the term of this Lease and any renewal or holding over. The Agent acknowledges receipt of the aforesaid deposit which shall be deposited in an interest bearing escrow account and which deposit shall be made within ten thirty (1030) days after receipt of said funds in a bank or saving system with the State of Maryland and which account shall be devoted exclusively to security deposits. The Agent shall, upon written demand request, promptly provide the Tenant with a written list of all existing damages. Said request by Sublessorthe Tenant must be made within seven (7) days of the Tenants occupancy. Within forty-five (45) working days after the end of tenancy the Agent shall return the deposit, restore less any damages rightfully withheld. However, in the Security Deposit event the Tenant has been evicted or ejected for non- payment of rent or for breach of a condition or covenant of the Lease prior to the full amount originally depositedtermination of tenancy, or in the even the Tenant has abandoned the premises prior to the termination of the tenancy the Tenant must first demand return of the security deposit by giving to the Agent written notice by first class mail within forty-five (45) days of being evicted, or ejected, or of abandoning the premises. The notice shall specify the Tenant’s new address and Sublessee's failure not a P.O. Box address. Within thirty (30) days of receipt of the notice from the damages claimed by the Agent, the Agent shall send written notice to do so Tenant by first class mail which contains a written list of damages claimed by the Agent as allowed by law, together with a statement of the costs actually incurred. Within forty-five (45) working days of the receipt of the written notice from the Tenant to the Agent, Agent shall constitute a default under this Sublease. Sublessor shall not be required return the security deposit to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security DepositTenant less damage rightly withheld. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of a sale of the Security Deposit as property which this premises is then situated on the transfer or assignment by the Landlord/Agent of this lease, the Landlord/Agent shall have the right to transfer the security deposit and the Tenant shall look solely to the new Landlord/Agent for the return of his security deposit. It is agreed that the foregoing shall apply to every transfer or assignment made on the security to a new Landlord/Agent. In the event of any rightful or permitted assignment of the Lease by the Tenant to any assignee or sublease, the security deposit shall be deemed to be held by Sublessorthe Agent as a deposit made by the assignee and the Agent shall have no further liability with respect to return of such security deposit to the assignor. Within ten Security deposit or any portion thereof may be withheld for unpaid rent, damages due to breach of lease or damages to the premises. Xxxxxx has the right to be present at the time of inspection to determine if any damage were done to the premises if Tenant notifies landlord by certified mail or his intention to move, date of moving and new address. The notice shall be mailed at least fifteen (1015) days prior to the date of moving. Upon receipt of notice, landlord shall notify Tenant by certified mail of time and date when premise are to be inspected. The date shall occur with five (5) before or five (5) days after date of moving as designated in Tenant’s notice. Xxxxxx acknowledge that this paragraph constitutes written notice to him at time of payment of security deposit of his rights under subsection 8-203 of the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default Real Property articles of any of its obligations hereunder, the Security Deposit, or so much thereof Maryland (as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderamended 1979).

Appears in 1 contract

Samples: www.blackstoneam.com

Security Deposit. Sublessee Lessee shall transfer the security deposit being held by Lessor from the following properties: - 0000 Xxxx Xxxxxxxxx Blvd., Eagan, MN Security deposit - $9,600.00 38,400 s.f. Lease dated March 16, 1998 - 0000 Xxxxx Xxxxxxxxxx Blvd., Xxxxx, MN Security deposit - $7,200.00 28,800 s.f. Lease dated August 14, 1998 - 0000 Xxxxx Xxxx Xxxx, Xxxxxxx Xxxxxxx, XX Security deposit - $11,560.00 38,400 s.f. Lease dated October 28, 1998 Lessee shall deposit an additional $44,879.50 of which $22,439.75 shall be deposited with Sublessor Lessor upon execution hereof and the balance of this Sublease $22,439.75 deposited with Lessor upon taking occupancy of the sum space for a total of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 73,239.50 as security for SublesseeLessee's faithful performance of Sublessee's its obligations hereunder ("Security Deposit")hereunder. Provided however if Lessee has failed its obligations as outlined in article 5 of the above leases then Lessor may withhold the appropriate portion and lessee shall be obligated to increase the security deposit for this lease proportionally. If Sublessee Lessee fails to pay rent or other charges when due under this Subleasehereunder, or fails otherwise defaults with respect to perform any provision of its other obligations hereunderthis Lease, Sublessor Lessor may use use, apply, or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor Lessor may become obligated by reason of SublesseeLessee's default or breachdefault, or to compensate Lessor for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachthat Lessor may suffer thereby. If Sublessor Lessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, Lessee shall within ten (10) days after written demand by Sublessor, therefor deposit cash with Lessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally depositedthen required of lessee. If the monthly rent increases, and Sublessee's failure from time to do time, during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall constitute a default under at all times bear the same proportion to the then current Base Rent as the initial security deposit bears to the initial Base Rent set forth in paragraph 4 with the exception of the rental increases outlined in this SubleaseLease. Sublessor Lessor shall not be required to keep the Security Deposit said security deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any If Lessee performs all of its obligations hereunder, the Security Depositsaid deposit, or so much thereof as had has not theretofore been applied by SublessorLessor, shall be returned returned, without payment of interest or other increment for its use, to Sublessee or Lessee (or, at Lessor's option, to the last assignee, if any, of SublesseeLessee's interest hereunder) within 30 days the expiration of the term hereof, and after Lessee has vacated the Premises. No trust relationship is created herein between Lessor and Lessee with respect to said security deposit.

Appears in 1 contract

Samples: Lease Agreement (Sportsmans Guide Inc)

Security Deposit. Upon execution hereof, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Sixty-Six Thousand Two One Hundred Fifty and 40/100ths One Dollars ($20,250.4066,101.00) as security and for a Security Deposit to secure Sublessee's faithful full and timely performance of Sublessee's all of its obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent Rent or any other charges sums as and when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use (but shall not be obligated to) use, apply, or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessee is obligated or which will compensate Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained which Sublessor may suffer thereby. Any such use, application, or retention shall not constitute a waiver by Sublessor as a result of Sublessee's default its right to enforce its other remedies hereunder, at law, or breachin equity. If Sublessor so uses any portion of the Security Depositsaid deposit is so used, applied, or retained, Sublessee shall, within ten (10) 10 days after delivery of written demand by from Sublessor, restore the Security Deposit said deposit to the full amount originally deposited, and its original amount. Sublessee's failure to do so shall constitute a default under material breach of this Sublease, and in such event Sublessor may elect, among or in addition to other remedies, to terminate this Sublease. Sublessor shall not be a trustee of such deposit, and shall not be required to keep the Security Deposit this deposit separate from its general accounts, . Sublessor alone shall be entitled to any interest or earnings thereon and Sublessor shall have no obligation or liability for payment the free use of interest on the Security Depositsame. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or If Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, fully and provided Sublessee is not then in default of any faithfully performs all of its obligations hereunder, the Security Deposit, or then so much thereof of the deposit as had not theretofore been applied by Sublessor, remains shall be returned to Sublessee (without payment of interest or to earnings thereon) within 30 days after the last assigneelater of (i) expiration or sooner termination of the term hereof, if any, of or (ii) Sublessee's interest hereundersurrender of possession of the Premises to Sublessor.

Appears in 1 contract

Samples: Sublease Agreement (Digital Impact Inc /De/)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty hereof Seven Thousand Two Five Hundred Fifty and 40/100ths 00/100 Dollars ($20,250.407,500.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said security deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid security deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said security deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit said security deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid security deposit, or so much thereof as had has not theretofore been applied by Sublessor, shall be returned returned, without payment of interest or other increment for its use to Sublessee or at the expiration of the term hereof, and after Sublessee has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to the last assignee, if any, of Sublessee's interest hereundersaid Security Deposit.

Appears in 1 contract

Samples: Balanced Care Corp

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 0.00 as security for Sublessee's ’s faithful performance of Sublessee's ’s obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's ’s default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's ’s default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's ’s failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's ’s interest hereunder.

Appears in 1 contract

Samples: Lease Agreement (Fox Hollow Technologies Inc)

Security Deposit. Sublessee shall deposit Subtenant has deposited with Sublessor upon Sublandlord simultaneously with the execution of this Sublease Sublease, the sum of Twenty Thousand Two Hundred Fifty _____________________________ and 40/100ths ____/100 Dollars ($20,250.40_________) as security for Sublessee's faithful performance of Sublessee's obligations hereunder a deposit (the "Security Deposit"). If Sublessee fails ) to pay rent or other charges when due under this Sublease, or fails to perform any secure the prompt performance of its other Subtenant's obligations hereunder. The Security Deposit may be commingled with Sublandlord's general funds, Sublessor may use or if permitted by law. Sublandlord shall have the right, but shall not be obligated, to apply all or any portion of the Security Deposit for to cure any default, in which event Subtenant shall be obligated to deposit with Sublandlord the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, necessary to restore the Security Deposit to its original amount within five (5) days after written notice from Sublandlord. To the full amount originally depositedextent not forfeited or otherwise used as provided herein, and Sublessee's failure provided the Subleased Premises are vacated in good condition, ordinary wear and tear and damage by fire or other casualty excepted, as described in Section 26, the Security Deposit shall be returned, without interest, to do so shall constitute a default under Subtenant within thirty (30) days after the expiration or other termination of 135 this Sublease. Sublessor shall not be required to keep Sublandlord may deliver the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment to any assignee of interest on the Security Deposit. In the event Sublessor assigns its Sublandlord's interest in this Sublease, Sublessor whereupon Sublandlord shall deliver be discharged from any further liability with respect to its assignee so much the Security Deposit. This provision shall apply also to any and all subsequent transferrers of the Sublandlord's interest in this Sublease. If the Subtenant fails to take possession of the Subleased Premises as required by this Sublease, the Security Deposit shall not be deemed liquidated damages and Sublandlord's use of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever this paragraph shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied preclude Sublandlord from recovering from Subtenant all additional damages incurred by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderSublandlord.

Appears in 1 contract

Samples: Office Lease (Otg Software Inc)

Security Deposit. Concurrently with the execution of this Sublease, Sublessee shall deposit with Sublessor upon execution and thereafter, during the Term of this Sublease Sublease, shall maintain on deposit with Sublessor, the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars __________________________ ($20,250.40) _______), as security for Sublessee's the full, prompt and faithful performance by Sublessee of all of Sublessee's obligations hereunder (the "Security Deposit"). If Upon the occurrence of a Sublessee fails Default, including the failure of Sublessee to pay rent the Base Rent or any other charges when sums due under this Subleasehereunder, or fails the failure of Sublessee to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent Base Rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachthen due and unpaid. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default Sublessee Default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten thirty (1030) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occurSublease Expiration Date, and provided that Sublessee is not then in default of any of its obligations hereunderunder the Sublease, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 33,500 as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")) provide however, said Security Deposit shall be reduced by $16,750, and $16,750 shall be refunded by Sublessor to Sublessee, upon the three (3) year anniversary of the Commencement Date; provided that Sublessee (prior to the 3-year anniversary of the Commencement Date) has timely paid the Minimum Rent and OPEX and provided further Sublessee is not otherwise in default. If Sublessee fails to pay rent or other charges when due under this Sublease, Sublease or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any actual loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, accounts and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten thirty (1030) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Tivic Health Systems, Inc.

Security Deposit. Upon execution hereof, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Ninty-Eight Thousand Two Hundred Fifty Sixty-Six and 40/100ths 40/100 Dollars ($20,250.4098,066.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"), in cash, as security for the performance by Sublessee of the terms and conditions of this Sublease. Sublessor agrees to deposit the Security Deposit in a savings account in a bank or savings and loan institution, and Sublessee will be entitled to interest thereon at the rate paid by the savings and loan institution, payable to Sublessee at the termination of the Sublease. Sublessor has the option to deposit the Security Deposit into an existing account and pay Sublessee five percent (5%) per year interest, payable at the end of the Sublease Term. If Sublessee fails to pay rent Rent or other charges when due under hereunder or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, then Sublessor may use draw upon, use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaidcharge in default, for the payment of any other sum for which Sublessor may has become obligated to pay by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachhas suffered thereby. If Sublessor so uses or applies all or any portion of the Security Deposit, Sublessee shallthen Sublessee, within ten (10) days after written demand by Sublessortherefor, shall deposit cash with Sublessor in the amount required to restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Subleasestated above. Sublessor shall not be required to keep Upon the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment expiration of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, if Sublessee is not in default, Sublessor shall deliver return to its assignee Sublessee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by SublessorSublessor pursuant to this paragraph, shall be returned or which is not otherwise required to Sublessee or to the last assignee, if any, of cure Sublessee's interest hereunderdefaults.

Appears in 1 contract

Samples: Sublease Agreement (Artisoft Inc)

Security Deposit. Sublessor acknowledges receipt from Sublessee shall deposit of $60,900.00 (together with Sublessor upon execution of this Sublease interest earned thereon, the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit") to be held in a segregated account by Sublessor as security (with any interest thereon being payable to Sublessor), for and during the Sublease Term, to be returned to Sublessee within thirty (30) days after the expiration of the Term or the termination of this Sublease provided there exists no breach of any undertaking of Sublessee. Upon the occurrence of any default by Sublessee hereunder, Sublessee agrees that Sublessor may apply all or any part of the Security Deposit to any obligation of Sublessee hereunder. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment is applied to any obligation of any rent or other amount then due hereunder and unpaidSublessee hereunder, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained Sublessee shall immediately upon request by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Subleaseits original amount. Sublessor Sublessee shall not be required have the right to keep the Security Deposit separate from its general accounts, and shall have no obligation call upon Sublessor to apply all or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much any part of the Security Deposit as is then held by to cure any default or fulfill any obligation of Sublessee, but such use shall be solely in the discretion of Sublessor. Within ten (10) days after Upon any conveyance of the Term has expiredPremises by Sublessor to Sublessor's grantee or transferee, the Security Deposit shall be delivered by Sublessor to Sublessor's grantee or transferee. Upon any such delivery, Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default hereby releases Sublessor herein named of any of its obligations hereunder, and all liability with respect to the Security Deposit, its application and return, and Sublessee agrees to look solely to such grantee or so much thereof as had not theretofore been applied by Sublessor, transferee. It is further understood that this provision shall be returned also apply to Sublessee or to the last assignee, if any, of Sublessee's interest hereundersubsequent grantees and transferees.

Appears in 1 contract

Samples: Sublease (Momenta Pharmaceuticals Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon the execution of this Sublease hereof the sum of Twenty Sixty-one Thousand Two Hundred Fifty and 40/100ths No/100ths Dollars ($20,250.4061,250.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder hereunder. If Sublessee completes a public offering of the stock of Sublessee within the first twelve ("Security Deposit")12) months of the term, then within thirty (30) days after Sublessee provides Sublessor with reasonable evidence that such public offering has been completed, Sublessor shall refund Thirty Thousand Six Hundred Twenty-five and No/100ths Dollars ($30,625.00) of the security deposit to Sublessee. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, Sublessor may, after the expiration of any applicable cure period provided to Sublessee pursuant to Paragraph 42 of the Master Lease, use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit said deposit for the payment Payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten fifteen (1015) days after written demand by Sublessor, therefor deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, herein above stated and Sublessee's failure to do so shall constitute be a default under breach of this Sublease, and Sublessor may at his option terminate this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, Said deposit or so much thereof as had not theretofore been applied by Sublessor, Sublessor shall be returned without payment of interest for its use, to Sublessee within ten (10) days after the expiration of the term hereof (or earlier termination of the Sublease if Sublessee does not have any remaining contractual obligations to Sublessor), or after Sublessee has vacated the last assigneePremises, if any, of Sublessee's interest hereunderwhichever is later.

Appears in 1 contract

Samples: Lease (Accelgraphics Inc)

Security Deposit. Sublessee shall deposit Subtenant has deposited with Sublessor upon execution of this Sublease Sublandlord the sum of Twenty Four Thousand Two Seven Hundred Fifty Three and 40/100ths 10/l00ths Dollars ($20,250.404,703.10) as security for SublesseeSubtenant's faithful performance of SublesseeSubtenant's obligations hereunder under this Sublease (the "Security Deposit"). If Sublessee Subtenant fails to pay rent Rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunderunder this Sublease, Sublessor Sublandlord may use or apply all or any portion of the Security Deposit for the payment of any rent such Rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor Sublandlord may become obligated by reason because of SublesseeSubtenant's default or breach, or for any loss or damage sustained by Sublessor Sublandlord as a result of SublesseeSubtenant's default or breach. If Sublessor so Sublandlord uses any portion of the Security Deposit, Sublessee shallSubtenant will, within ten (10) days after written demand by SublessorSublandlord, restore the Security Deposit to the full amount originally deposited, and Sublessee. Subtenant's failure to do so shall constitute a default under this Sublease. Sublessor Sublandlord shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor If Sublandlord assigns its interest in this Sublease, Sublessor Sublandlord shall deliver to its assignee so as much of the Security Deposit as is Sublandlord then held by Sublessorholds. Within ten thirty (1030) days after the Sublease Term has expired, expired or Sublessee Subtenant has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occuroccurs last, and provided Sublessee that Subtenant is not then in default of any of its obligations hereunderunder this Sublease, the Security Deposit, or so as much thereof as had remains that has not theretofore been applied by SublessorSublandlord, shall be returned to Sublessee Subtenant or to the last assignee, if any, of SublesseeSubtenant's interest hereunderunder this Sublease.

Appears in 1 contract

Samples: Lease (Cheap Tickets Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty hereof Forty-Five Thousand Two Eight Hundred Fifty and 40/100ths No/100ths Dollars ($20,250.4045,850.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid deposit, or so much thereof as had has not theretofore therefore been applied by Sublessor, shall be returned returned, without payment of interest or other increment for its use to Sublessee (or at Sublessor's option to the last assignee, if any, of Sublessee's interest hereunder) at the expiration of the term hereof, and after Sublessee has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to said Security Deposit.

Appears in 1 contract

Samples: Hall Kinion & Associates Inc

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars eighty-nine thousand two hundred seventy-five dollars twenty cents ($20,250.4089,275.20) as security for Sublessee's ’s faithful performance of Sublessee's ’s obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's ’s default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's ’s default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's ’s failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten thirty (1030) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof this Sublease has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore therefore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's ’s interest hereunder.

Appears in 1 contract

Samples: Omniture, Inc.

Security Deposit. Sublessee (a) Simultaneously with the execution of this Sublease, Subtenant shall deposit with Sublessor upon Sublandlord an unconditional and irrevocable letter of credit (“Letter of Credit”) in the amount of $2,451,600.00 in the form attached hereto as Schedule 7(a). The Letter of Credit shall be issued by a bank satisfactory to Sublandlord and having an office in the Cities of Boston or Cambridge, Massachusetts. Subtenant shall ensure that at all times after the execution and delivery of this Sublease until forty-five (45) days after the sum expiration of Twenty Thousand Two Hundred Fifty the term of the Sublease an unexpired Letter of Credit in the amount of $2,451,600.00 shall be in the possession of Sublandlord. The Letter of Credit shall have a term ending no earlier than forty-five (45) days after the expiration of the Term and 40/100ths Dollars shall not be canceled unless the issuing bank delivers forty-five ($20,250.4045) days’ prior written notice to Sublandlord. Subtenant shall deliver to Sublandlord, no later than thirty (30) days prior to the expiry date of the then outstanding and expiring Letter of Credit, if any, a replacement Letter of Credit. Sublandlord shall be entitled to draw on the Letter of Credit (i) if Subtenant fails to deliver any replacement Letter of Credit as security required, in which event Sublandlord shall be permitted to retain the entire proceeds of such Letter of Credit for Sublessee's faithful performance of Sublessee's obligations application as a cash Security Deposit hereunder ("Security Deposit"on the terms set forth below), (ii) to cure or attempt to cure, in whole or in part, any default by Subtenant under this Sublease following any and all applicable notice and cure periods, in which event Subtenant shall replenish the amount so drawn upon demand by Sublandlord, and (iii) if the credit rating of the long-term debt of the issuer of the Letter of Credit (according to Xxxxx’x or similar national rating agency) is downgraded to a grade below investment rate, or if the issuer of the Letter of Credit shall enter into any supervisory agreement with any governmental authority, or if the issuer of the Letter of Credit shall fail to meet any capital requirements imposed by applicable law, unless Subtenant delivers to Sublandlord a replacement Letter of Credit complying with the terms of this Sublease within thirty (30) days after demand therefor from Sublandlord. If Sublessee fails Failure by the issuer to honor a draw request on the Letter of Credit shall be a default under the terms of this Sublease entitling Sublandlord to exercise its remedies hereunder. Each Letter of Credit shall be for the benefit of Sublandlord and its successors and assigns and shall entitle Sublandlord or its successors or assigns to draw from time to time under the Letter of Credit in portions or in whole upon presentation of a sight draft and statement by Sublandlord that Sublandlord is entitled to draw thereunder pursuant to the terms and provisions of this Sublease. Sublandlord shall have an unrestricted right to transfer the Letter of Credit at any time and to any successor or lender selected by Sublandlord. Subtenant shall pay any transfer commission (fee) and all other costs (hereinafter collectively referred to as the “Transfer Fee”) which may be imposed by the bank issuing the Letter of Credit for the transfer of the Letter of Credit by Sublandlord. Subtenant’s failure to pay rent or other charges when due the Transfer Fee shall constitute an Event of Default, and Sublandlord shall have the right to pursue any and all remedies provided Sublandlord under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder in equity and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderat law.

Appears in 1 contract

Samples: Sublease Agreement (CRISPR Therapeutics AG)

Security Deposit. Sublessee Contemporaneously with the execution of this Sublease, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord the sum of Twenty One Hundred Eleven Thousand Two One Hundred Fifty Ninety-two and 40/100ths no/100 Dollars ($20,250.40111,192.00) as security for Sublessee's Subtenant’s faithful performance of Sublessee's Subtenant’s obligations hereunder under this Sublease ("Security Deposit"). Sublandlord shall not be required to keep the Security Deposit separate from its general funds. If Sublessee Subtenant fails to pay rent Base Rent, Additional Rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunderunder this Sublease, Sublessor Sublandlord may use or apply all or any portion of the Security Deposit for the payment of the Base Rent, Additional Rent or any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so Sublandlord uses any portion of the Security Deposit, Sublessee Subtenant shall, within ten (10) days after written demand by SublessorSublandlord, restore the Security Deposit to the full amount originally deposited, and Sublessee's . Subtenant’s failure to do so shall will constitute a material default under this Sublease. Sublessor shall Provided that Subtenant is not be required to keep then in default under any material provision of this Sublease and that no event has occurred which with notice and/or the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment passage of interest on the Security Deposit. In the event Sublessor assigns its interest in time would become a default under any material provision of this Sublease, Sublessor shall deliver to its assignee so much on the commencement of the forty-ninth (49th) month of the Sublease Term the sum of Fifty-five Thousand Five Hundred Ninety-six and no/100 Dollars ($55,596.00) of the Security Deposit as is then held shall be applied by SublessorSublandlord to Subtenant’s Base Rent obligation for the forty-ninth (49th) month of the Term and the Security Deposit shall thereafter be in the amount of Fifty-five Thousand Five Hundred Ninety-six and no/100 Dollars ($55,596.00). Within ten (10) days after the Term has expired, or Sublessee expired and Subtenant has vacated the Subleased Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee that Subtenant is not then in monetary default or otherwise in default under any material provision of any of its obligations hereunderthis Sublease, the Security Deposit, or so as much thereof as had remains that has not theretofore been applied or deducted by SublessorSublandlord to make good any Event of Default by Subtenant, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderSubtenant.

Appears in 1 contract

Samples: Sub Sublease Agreement (Data Domain, Inc.)

Security Deposit. Upon execution hereof, Sublessee shall deposit with ---------------- Sublessor upon execution of this Sublease the sum of Twenty Seven Thousand Two Five Hundred Fifty and 40/100ths Dollars ($20,250.407,500.00) as security and for a Security Deposit to secure Sublessee's faithful full and timely performance of Sublessee's all of its obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent Rent or any other charges sums as and when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use (but shall not be obligated to) use, apply, or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessee is obligated or which will compensate Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained which Sublessor may suffer thereby. Any such use, application,,or retention shall not constitute a waiver by Sublessor as a result of Sublessee's default its right to enforce its other remedies hereunder, at law, or breachin equity. If Sublessor so uses any portion of the Security Depositsaid deposit is so used, applied, or retained, Sublessee shall, within ten (10) 10 business days after delivery of written demand by from Sublessor, restore the Security Deposit said deposit to the full amount originally deposited, and its original amount. Sublessee's failure to do so shall constitute a default under material breach of this Sublease, and in such event Sublessor may elect, among or in addition to other remedies, to terminate this Sublease. Sublessor shall not be a trustee of such deposit, and shall not be required to keep the Security Deposit this deposit separate from its general accounts, . Sublessor alone shall be entitled to any interest or earnings thereon and Sublessor shall have no obligation or liability for payment the free use of interest on the Security Depositsame. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or If Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, fully and provided Sublessee is not then in default of any faithfully performs all of its obligations hereunder, the Security Deposit, or then so much thereof of the deposit as had not theretofore been applied by Sublessor, remains shall be returned to Sublessee (without payment of interest or to earnings thereon) within 30 days after the last assigneelater of (i) expiration or sooner termination of the term hereof, if any, of or (ii) Sublessee's interest hereundersurrender of possession of the Subleased Premises to Sublessor.

Appears in 1 contract

Samples: Sublease Agreement (Sciquest Com Inc)

Security Deposit. Sublessee Concurrently with the execution of this Sublease, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord the sum of Twenty Ninety-Nine Thousand Two Eight Hundred Fifty Thirty-Six and 40/100ths 31/100 Dollars ($20,250.4099,836.31) ("Deposit"), which shall be held by Sublandlord as security for Sublessee's the full and faithful performance by Subtenant of Sublessee's its covenants and obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease. The Deposit is not an advance Rent deposit, an advance payment of any other kind, or fails a measure of Sublandlord's damage in case of Subtenant's default. If Subtenant defaults in the full and timely performance of any or all of Subtenant's covenants and obligations set forth in this Sublease, then Sublandlord may, from time to perform time, without waiving any of its other obligations hereunderremedy available to Sublandlord, Sublessor may use or apply all the Deposit, or any portion of it, to the Security Deposit for extent necessary to cure or remedy the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, to compensate Sublandlord for all or for any loss or damage a part of the damages sustained by Sublessor as a result of SublesseeSublandlord resulting from Subtenant's default or breachdefault. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, Subtenant shall immediately pay to Sublandlord within ten five (105) days after written demand by Sublessorfollowing receipt of demand, the amount so applied in order to restore the Security Deposit to the full amount originally depositedits original amount, and SublesseeSubtenant's failure to immediately do so shall constitute a default under this Sublease. Sublessor If Subtenant is not in default with respect to the covenants and obligations set forth in this Sublease at the expiration or earlier termination of the Sublease, Sublandlord shall return the Deposit to Subtenant promptly after the expiration or earlier termination of this Sublease. Sublandlord's obligations with respect to the Deposit are those of a debtor and not a trustee. Sublandlord shall not be required to keep maintain the Security Deposit separate and apart from its Sublandlord's general accounts, or other funds and Sublandlord may commingle the Deposit with any of Sublandlord's general or other funds. Subtenant shall have no obligation or liability for payment of not at any time be entitled to interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Trega Biosciences Inc)

Security Deposit. Upon execution of this Sublease, Sublessee shall ---------------- deposit with Sublessor upon execution of this Sublease the sum of Twenty Sixteen Thousand Two Eight Hundred Fifty Sixteen and 40/100ths 7l/100 Dollars ($20,250.4016,816.71) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefor deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under breach of this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, Said deposit or so much thereof as had not theretofore been applied by Sublessor, Sublessor shall be returned without payment of interest for its use, to Sublessee within ten (10) days after the expiration or to the last assigneeterm hereof or ten (10) days after the date Sublessee has vacated the Premises, if any, of Sublessee's interest hereunderwhichever is later.

Appears in 1 contract

Samples: Office Lease (Agile Software Corp)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease and maintain during the Term the sum of Twenty One Hundred Nine Thousand Two Hundred Fifty and 40/100ths 00/100 Dollars ($20,250.40109,000.00) as a security deposit (the “Security Deposit”) which Sublessor shall hold as security for Sublessee's the full and faithful performance by Sublessee of Sublessee's obligations hereunder every term, provision, obligation and covenant under this Sublease. The Security Deposit shall be included in the principal amount due under that certain Replacement Promissory Note of even date herewith given by Sublessee and New Beginnings Care, LLC in favor of AdCare Health Systems, Inc. ("the “Replacement Note”). The Security Deposit")Deposit shall not be considered an advance payment of Rent (or of any other sum payable by Sublessee under this Sublease) or a measure of Sublessor’s damages in case of a default by Sublessee under this Sublease. Sublessor shall have no obligation to maintain the Security Deposit separate and apart from Sublessor’s general and/or other funds. If Sublessee fails to pay rent or other charges when due under defaults beyond the applicable notice and/or cure period in respect of any of the terms, provisions, covenants and conditions of this Sublease. Sublessor may, or fails but shall not be required to, in addition to perform and not in lieu of any of its other obligations hereunderrights and remedies available to Sublessor, Sublessor may use or apply all or any part of the Security Deposit to the payment of any sum in default, or any other sum that Sublessor may expend or be required to expend by reason of such default, including but not limited to, any damages or deficiency in reletting the Premises. Whenever, and as often as, Sublessor has applied any portion of the Security Deposit for to cure any such default beyond the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Depositapplicable notice and/or cure period hereunder, Sublessee shall, within ten (10) days after written demand by Notice from Sublessor, deposit additional money with Sublessor sufficient to restore the Security Deposit to the full amount originally depositedthen required to be deposited with Sublessor, and Sublessee's ’s failure to do so shall constitute a default under this Subleasean Event of Default without any further Notice. If Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation transfers or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in under this Sublease, Sublessor shall deliver to its assignee so much of assign the Security Deposit as is then held by Sublessor. Within ten (10) days after to the Term has expired, or Sublessee has vacated new Sublessor and thereafter Sublessor shall have no further liability for the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default return of any of its obligations hereunder, the Security Deposit, and Sublessee agrees to look solely to the new Sublessor for the return of the Security Deposit. Sublessee agrees that it will not assign or so much thereof as had not theretofore been applied by encumber or attempt to assign or encumber the Security Deposit and that Sublessor, shall be returned to Sublessee or its successors and assigns may return the Security Deposit to the last assigneeSublessee in possession of the Premises at the last address for which Notice has given by such Sublessee and that Sublessor thereafter shall be relieved of any liability therefor, if any, regardless of Sublessee's interest hereunderone or more assignments of this Sublease or any such actual or attempted assignment or encumbrances of the Security Deposit.

Appears in 1 contract

Samples: Master Sublease Agreement (Adcare Health Systems, Inc)

Security Deposit. Sublessor and Sublessee acknowledge that Sublessee ---------------- has paid to Sublessor a deposit in the amount of Eighty-Three Thousand Seven Hundred Ninety-Four and 90/100 Dollars ($83,794.90) (the "Lock-Up Deposit") which would have been non-refundable to Sublessor if Sublessor and Sublessee had failed to execute this Sublease. Upon execution hereof, Sublessee shall deposit with Sublessor upon execution an additional amount of this Sublease the sum of Twenty One Hundred Seven Thousand Two Seven Hundred Fifty Thirty-Six and 40/100ths 30/100 Dollars ($20,250.40107,736.30), in cash, so that Sublessor shall hold a total amount of One Hundred Ninety-One Thousand Five Hundred Thirty-One Dollars and 20/100 ($191,531.20) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"), in cash, as security for the performance by Sublessee of the terms and conditions of this Sublease. If Sublessee fails to pay rent Rent or other charges when due under hereunder or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, then Sublessor may use draw upon, use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaidcharge in default, for the payment of any other sum for which Sublessor may has become obligated to pay by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachhas suffered thereby. If Sublessor so uses or applies all or any portion of the Security Deposit, Sublessee shallthen Sublessee, within ten three (103) days after written delivery of demand by Sublessortherefor, shall deposit cash with Sublessor in the amount required to restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Subleasestated above. Sublessor shall not be required to keep Upon the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment expiration of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, if Sublessee is not in default beyond applicable cure periods, Sublessor shall deliver return to its assignee Sublessee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by SublessorSublessor pursuant to this paragraph, shall be returned or which is not otherwise required to Sublessee or to the last assignee, if any, of cure Sublessee's interest hereunderdefaults.

Appears in 1 contract

Samples: Sublease (Synplicity Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon On the date of execution of this Sublease Sub-sublease by Subtenant #2, Subtenant #2 will pay to Subtenant #1 a security deposit in the sum amount of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security 5,332.71 for SublesseeSubtenant #2's faithful performance of SublesseeSubtenant #2's obligations obligation hereunder (hereinafter "Security Deposit"). If Sublessee Subtenant #2 fails to pay rent or other charges when due under this SubleaseSub-sublease, or fails to perform any of its other obligations hereunder, Sublessor Subtenant #1 may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount amounts then due hereunder and unpaid, for the payment of any other sum for which Sublessor Subtenant #1 may become obligated by reason of SublesseeSubtenant #2's default or breach, or for any loss or damage sustained by Sublessor Subtenant #1 as a result of SublesseeSubtenant #2's default or breach. If Sublessor Subtenant #1 so uses any portion of the Security Deposit, Sublessee Subtenant #2 shall, within ten (10) days after written demand by SublessorSubtenant #1, restore the Security Deposit to the full amount originally deposited, and SublesseeSubtenant #2's failure to do so shall constitute a default under this SubleaseSub-sublease. Sublessor Subtenant #1 shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor Subtenant #1 assigns its interest in this SubleaseSub-sublease, Sublessor Subtenant #1 shall deliver to its assignee so much of the Security Deposit as is then held by SublessorSubtenant #1. Within ten (10) days after the Term has expired, or Sublessee Subtenant #2 has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 Paragraph 5(b) hereof has been made, whichever shall last occur, and provided Sublessee Subtenant #2 is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by SublessorSubtenant #1, shall be returned to Sublessee Subtenant #2 or to the last assignee, if any, of SublesseeSubtenant #2's interest hereunder.. 3

Appears in 1 contract

Samples: Maxxis Group Inc

Security Deposit. Sublessee Upon execution of this Sublease, Subtenant shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as Sublandlord a cash security for Sublessee's faithful performance of Sublessee's obligations hereunder deposit ("Security Deposit") in the amount of $40,896.23 (the "Deposit Amount"). If Sublessee fails additional Rentable Area is added to pay rent the Subleased Premises, the Deposit Amount shall be adjusted so that it is equal to the Basic Rent plus estimated Tenant's Share of Operating Expenses for the last month of the Sublease Tenn. The Security Deposit shall be held by Sublandlord as security for Subtenant's performance of its obligations under this Sublease and may be applied, at Sublandlord's sole discretion, against any obligation incurred by Subtenant in connection with this Sublease that is not timely paid or performed (as the case may be), including the payment of Basic Rent and Additional Rent, the repair of any damage that is Subtenant's responsibility, and all other charges when due obligations of Subtenant under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of Sublandlord debits the Security Deposit, Sublessee shallSublandlord shall notify Subtenant of the occurrence and amount of the debit, within ten (10) days after written demand by Sublessor, and Subtenant shall promptly pay to Sublandlord the amount necessary to restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this SubleaseDeposit Amount. Sublessor shall Sublandlord is not be required to keep the Security Deposit separate from its general accounts, funds and shall have no obligation or liability for payment of Subtenant is not entitled to interest on the Security Deposit. In the event Sublessor assigns If Subtenant performs each of its interest in obligations under this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessorany then-remaining balance thereof, shall be returned to Sublessee Subtenant within 30 days after the later of (i) the expiration of the Sublease Term or to the last assigneetermination of this Sublease, if any, of Sublessee's interest hereunder.and

Appears in 1 contract

Samples: Office Lease Agreement (Blue Nile Inc)

Security Deposit. Sublessee Upon execution of this Lease, Lessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Lessor in cash Five Hundred Thirty-Four Thousand Two Six Hundred Fifty and 40/100ths Seventy-Nine Dollars ($20,250.40534,679) as security for Sublessee's faithful the performance by Lessee of Sublessee's its obligations hereunder under this Lease, and not as a prepayment of rent (the "Security Deposit"). Notwithstanding the foregoing, so long as no Event of Default has occurred and no default then exists and is continuing, the Security Deposit shall be reduced at the end of the Cohabitation Period to Four Hundred Seven Thousand Nineteen Dollars ($407,019). If Sublessee fails to pay rent or other charges when due under this Subleasean Event of Default occurs, or fails to perform any of its other obligations hereunder, Sublessor Lessor may use or apply all or any portion part of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaidsum in default, for the repair of any damage to the Premises caused by Lessee or the payment of any other sum for amount which Sublessor Lessor may spend or become obligated to spend by reason of SublesseeLessee's default or breach, or to compensate Lessor for any other loss or damage sustained which Lessor may suffer by Sublessor as a result reason of SublesseeLessee's default or breachto the full extent permitted by law. If Sublessor so uses To the extent any portion of the Security DepositDeposit is used, Sublessee Lessee shall, within ten five (105) days after written demand by Sublessorfrom Lessor, restore the Security Deposit to its full amount. Lessor may keep the full amount originally deposited, Security Deposit in its general funds and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep pay interest to Lessee on the deposit amount. Lessor shall return all of the remaining Security Deposit to Lessee within thirty (30) days after the later of the end of the Term and the date that Lessee surrenders possession of the Premises to Lessor. The Security Deposit shall not serve as an advance payment of rent or a measure of Lessor's damages for any default under this Lease. If Lessor transfers its interest in the Project or this Lease, Lessor may transfer the Security Deposit separate from to its general accountstransferee. Upon such transfer, and Lessor shall have no further obligation or liability for payment of interest on to return the Security Deposit. In Lessee shall look solely to the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much new landlord for the return of the Security Deposit as is then held by SublessorDeposit. Within ten (10) days after the Term has expired, Lessee covenants and agrees that it shall not assign or Sublessee has vacated the Premises, encumber or any final adjustment pursuant attempt to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, assign or encumber the Security Deposit, Deposit and neither Lessor or so much thereof as had not theretofore been applied by Sublessor, its successors or assigns shall be returned to Sublessee bound by any such agreement, encumbrance, attempted assignment or to the last assignee, if any, of Sublessee's interest hereunderattempted encumbrance.

Appears in 1 contract

Samples: Manufacturers Services LTD

Security Deposit. Sublessee shall deposit has concurrently with Sublessor upon the execution of this Sublease deposited with Sublessor the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $300,000.00 ($20,250.40hereinafter sometimes referred to as the “Security Deposit”) as security for Sublessee's faithful the full performance of every provision of this Sublease by Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under shall fully perform each provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any that portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained has not been used by Sublessor as a result of Sublessee's default to apply to any costs, charges or breach. If payments owing by Sublessee to Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, hereunder shall be returned to Sublessee without interest within thirty (30) days after the expiration or earlier termination (except where such termination is pursuant to Section 12) of the Sublease. Sublessor may deliver the funds deposited hereunder by Sublessee to the last assigneepurchaser or transferee of Sublessor’s interest in the Premises in the event that such interest be sold or transferred, if anyand, in the event the purchaser or transferee agrees in writing to assume all of the obligations of Sublessor under this Sublease, thereupon Sublessor shall be discharged from any further liability with respect to such Security Deposit. Notwithstanding the foregoing, Sublessor agrees that, so long as Sublessee is not in default under the Sublease that continues beyond the applicable notice and cure period and so long as immediately prior to months 13, 16, 19 and 24 of the Sublease Term Sublessee provides, upon receipt of Sublessor’s written request, reasonable evidence to Sublessor (or Sublessor is otherwise reasonably able to determine to its satisfaction) that Sublessee has no less than one (1) year’s operating cash (consisting of cash, cash equivalents and investment securities on Sublessee’s balance sheet) available to it, which evidence shall be satisfied by a copy of Sublessee's interest ’s most recent annual or quarterly report on Form 10-K or 10-Q, respectively, Sublessor will deduct from the Security Deposit and apply to Sublessee’s Base Rent obligation hereunder the amount necessary to pay such Base Rent obligation for such months, respectively. Sublessor will continue to hold the balance of the Security Deposit until the expiration or earlier termination of the Sublease. If an event of default under the Sublease shall occur and continue beyond the applicable notice and cure period, Sublessee shall, upon receipt of written notice from Sublessor, promptly pay and restore any amounts of the Security Deposit that have been credited against Base Rent hereunder, and, following expiration of the applicable notice and cure period for such event of default, Sublessor will make no further deductions from the Security Deposit. If Master Lessor terminates or revokes its consent to this Sublease for any reason other than the default by Sublessee, and this Sublease terminates as a result, Sublessor shall return the Security Deposit to Sublessee within fifteen (15) days following such termination or revocation.

Appears in 1 contract

Samples: Sublease Agreement (Mast Therapeutics, Inc.)

Security Deposit. Sublessee shall deposit with Sublessor upon Upon the execution and delivery of this Sublease Sub-sublease, ------------------ Sub-subtenant shall pay to Sub-sublandlord a Security Deposit in the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 3,900-00 as security for Sublessee's the full and faithful performance of Sublesseethe terms, covenants and conditions of this Sub-sublease on Sub-subtenant's obligations hereunder ("Security Deposit"). If Sublessee fails part to pay rent be performed or other charges when due under this Subleaseobserved including, or fails to perform any of its other obligations hereunderbut not limited to, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent as may be in default or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor Sub-sublandlord may become obligated expend or be required to expend by reason of SublesseeSub-subtenant's default including any damages or breachdeficiency in re-letting XXX-XXXXXXXX/0000-0 Xxxx Xxxxxx Xxxx, Xxxxxxxxx XX 00000 the Demised Premises, in whole or for any loss in part, whether such damages shall accrue before or damage sustained after summary proceedings or other re-entry by Sublessor as Sub-sublandlord. The Security Deposit shall be held by Sub-sublandlord in trust and shall be deposited in a result of Sublessee's default or breachseparate interest-bearing account in a banking institution. If Sublessor so uses any portion Sub-subtenant FULLY and faithfully complies with all the terms, covenants and conditions of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit this Sub-sublease on Sub-subtenant's part to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation performed or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunderobserved, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessorany unapplied balance thereof, plus interest, shall be returned to Sublessee or Sub-subtenant after the time fixed as the expiration of the term of this Sub-sublease and after the removal of Sub-subtenant and surrender of possession of the Demised Premises to the last assignee, if any, of Sublessee's interest hereunderSub-sublandlord.

Appears in 1 contract

Samples: Photoelectron Corp

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thirty-three Thousand Two Eight Hundred Fifty forty-four and 40/100ths No/100ths Dollars ($20,250.40$ 33,844.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 8.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest Interest hereunder.

Appears in 1 contract

Samples: Lease (Universal Electronics Inc)

Security Deposit. Sublessee shall deposit To secure the faithful performance by Subtenant of all the covenants, conditions and agreements in this Sublease set forth and contained on the part of Subtenant to be fulfilled, kept, observed and performed, simultaneously with Sublessor upon Subtenant’s execution of this Sublease Sublease, Subtenant shall deliver to Sublandlord a security deposit in the sum amount of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $11,164.50 ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("the “Security Deposit"). If Sublessee fails Subtenant defaults with respect to pay rent or other charges when due under any provision of this Sublease, including without limitation the payment of any Rent, then Sublandlord may use, apply, draw upon or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any part of the Security Deposit to the extent necessary for the payment of any rent, or to compensate Sublandlord for any other loss, cost or damage that Sublandlord may suffer by reason of Subtenant’s default. If any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaidis so used, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breachapplied, or for any loss or damage sustained by Sublessor drawn upon as a result of Sublessee's default or breach. If Sublessor so uses any portion of permitted in accordance with the Security Depositterms hereof, Sublessee then Subtenant shall, within ten (10) 10 days after written demand by Sublessornotice thereof, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the full amount originally deposited, and Sublessee's its original amount. Subtenant’s failure to do so shall constitute a default be an automatic Event of Default under this SubleaseSublease without any additional notice. Sublessor Sublandlord shall not not, unless otherwise required by law, be required to keep the Security Deposit separate from its general accountsfunds, nor pay interest to Subtenant. If Subtenant shall fully and shall have no obligation or liability for payment faithfully perform every provision of interest on the Security Deposit. In the event Sublessor assigns its interest in this SubleaseSublease to be performed by it, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much balance thereof as had not theretofore been applied by Sublessor, (if any) shall be returned to Sublessee Subtenant (or to the last assignee, if any, transferee of Sublessee's Subtenant’s interest hereunder) after the Expiration Date (or sooner termination of this Sublease), provided that Subtenant vacates the Sublease Space in accordance with this Sublease and Subtenant surrenders possession thereof to Sublandlord in the condition required under this Sublease.

Appears in 1 contract

Samples: Lease Agreement (Verrica Pharmaceuticals Inc.)

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Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease hereof the sum of Twenty Forty-Three Thousand Two One Hundred Fifty Sixty-Three and 40/100ths Dollars 33/100 ($20,250.4043,163.33) Dollars as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply, or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally depositedhereinabove stated, and Sublessee's failure to do so shall constitute be a default under breach of this Sublease, and Sublessor may at his option terminate this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned returned, without payment of interest for its use, to Sublessee or to within ten (10) days after the last assignee, if any, expiration of Sublessee's interest hereunderthe Sublease term.

Appears in 1 contract

Samples: Second Sublease Agreement (Internet Commerce Corp)

Security Deposit. Sublessee shall deposit with Sublessor Sublessor's parent corporation upon execution of this Sublease the sum of Twenty Nineteen Thousand Two Seven Hundred Fifty Four and 40/100ths 66/100 Dollars ($20,250.4019,704.66.) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunderhereunder after and required notification to Sublessee and the expiration of all notice and grace periods, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by from Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability . If Sublessee faithfully performs all of Sublessee's obligations hereunder for payment a period of interest on the Security Deposit. In the event Sublessor assigns its interest in this Subleaseeighteen (18) months, Sublessor shall deliver to its assignee so much return one half of the Security Deposit as is then held by Sublessorto Sublessee. Within ten (10) days after the Term has expired, or Sublessee has vacated the Sublease Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, Sublessor shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Inventa Technologies Inc)

Security Deposit. Sublessee shall deposit provide Sublessor with an irrevocable standby Letter of Credit payable to Sublessor upon execution (in substantially the same form and substance as Exhibit C hereto) in the amount of this Sublease the sum of Twenty Thousand One Million Two Hundred Fifty Forty Four Thousand Seven Hundred Forty and 40/100ths Dollars No/100 ($20,250.40) 1,244,740.00), as a security deposit for Sublessee's faithful performance of Sublessee's obligations hereunder under this Sublease ("Security Deposit"). Sublessee shall deliver the Security Deposit to the Sublessor on the earlier of the Commencement Date or the date on which Sublessee exercises its right under Section 2.3 to occupy space prior to the Commencement Date. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefore deposit lawful money of the United States with Sublessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.has not

Appears in 1 contract

Samples: Sublease Agreement (Anda Networks Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon Upon the execution of this Sublease Lease, Lessee shall pay to the sum Lessor the amount of Twenty Fifty Thousand Two Hundred Fifty and 40/100ths 00/100 Dollars ($20,250.4050,000.00) which shall be added to the Five Thousand and 00/100 Dollars ($5,000.00) already being held by Lessor so as to total Fifty-Five Thousand and 00/100 Dollars ($55,000.00). This amount, together with interest thereon at the rate of two percent (2%) per annum which shall be credited by Lessor to Lessee, shall be held as a security deposit hereunder. In lieu of said cash security deposit, Lessee, at Lessee's option, may deliver to Lessor at the time this Lease is executed an unconditional, irrevocable Letter of Credit in the amount of Seventy-Five Thousand and 00/100 Dollars (U.S. $75,000.00) naming Lessor as beneficiary, which Letter of Credit shall be issued by a United States bank approved by Lessor and shall otherwise be in form acceptable to Lessor. Said Letter of Credit shall have a term at least equal in length to the Lease Term or if for a term shorter than the Lease Term, shall provide that if the Letter of Credit is not extended or renewed at least forty-five (45) days prior to its then expiration date, Lessor shall have the unconditional right to draw upon it in full. Said Letter of Credit shall constitute the security deposit and may be drawn upon either by Lessor's certification that Lessor is entitled to the security deposit under the terms of this Section 7 or in the event of a failure to extend or renew it as specified in the immediately preceding sentence. The security deposit shall be held as a security for Sublessee's faithful the due performance of Sublessee's obligations hereunder ("Security Deposit")each and every obligation of Lessee as in this Lease provided. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor Lessor may use or apply all or any portion of commingle the Security Deposit for in one or more bank accounts with other funds of Lessor. Lessor may use the Security Deposit to cure any default by Lessee under the terms of this Lease, and Lessee shall immediately pay to Lessor on demand, as Additional Rent, the amount so expended and any additional amount as is required to cause the security deposit at all times to equal the amount set forth above. Lessor shall assign the security deposit to any successor owner of the Building, and thereafter Lessor shall have no further responsibility therefor or liability on account thereof. Upon the expiration (or any earlier termination) of the Lease Term, Lessor shall inspect the Premises, make such deductions from the security deposit as Lessor reasonably estimates may be required to cure any default by Lessee under the terms of this Lease, and pay the balance of the security deposit, if any, to Lessee within thirty (30) days of such expiration or termination. The security deposit may not be used by Lessee in lieu of rent payment(s) including, but not limited to, the last months' Base Rent payments or the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderAdditional Rent.

Appears in 1 contract

Samples: Lease Agreement (Idenix Pharmaceuticals Inc)

Security Deposit. Within three (3) days of Walnut Creek Design Review Commission's approval of Sublessee's planned improvements of the Premises, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Sixteen Thousand Two Hundred Fifty and 40/100ths 00/100 Dollars ($20,250.4016,000.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term Sublease term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has adjustments have been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore heretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Pyramid Breweries Inc

Security Deposit. Sublessee The Lessee shall deposit with Sublessor upon execution the Lessor the sum specified in item 8 of the Basic Lease Provisions as security for the faithful performance by the Lessee of all covenants and conditions of this Sublease Lease concurrently with the close of escrow for the purchase by the Lessor of the land on which the Building is situated. On the commencement of the fifth (5th) lease year, provided that (i) Lessee is not at that time in default under the Lease or cures within any applicable cure period any default then existing, (ii) that Lessor has not delivered more than two (2) default notices to Lessee under this Lease and (iii) further that the balance of the security deposit remains One Hundred Fifty Thousand Dollars ($150,000), Lessor shall refund the sum of Twenty Twenty-five Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.4025,000) to Lessee. Additional Twenty-five Thousand Dollar ($25,000) reductions shall be made at the commencement of each lease year thereafter providing that conditions (i) and (ii) are satisfied and that the balance of the security deposit then equals the sum of One Hundred Fifty Thousand Dollars ($150,000) less only the sums previously released to Lessee, until such time as the balance of the security for Sublessee's faithful deposit is Fifty Thousand Dollars ($50,000) which sum Lessor shall continue to hold as the security deposit hereunder. If the Lessee shall breach or default in the performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent any covenants or other charges when due under conditions of this SubleaseLease, including the payment of rent, the Lessor may use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply all retain the whole or any portion part of the Security Deposit such security deposit for the payment of any rent in default or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor the Lessor may become obligated spend or be required to spend by reason of Sublesseethe Lessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachdefault. If Sublessor the Lessor so uses or applies all or any portion of said deposit, the Security Deposit, Sublessee Lessee shall, within ten (10) days after written demand by Sublessortherefor, deposit cash with the Lessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and Sublesseethe Lessee's failure to do so shall constitute be a default under material breach of this SubleaseLease. Sublessor Should the Lessee comply with all covenants and conditions of this Lease, the security deposit or any balance thereof shall be returned to the Lessee (or, if applicable, to the last assignee of the Lessee's interest in this Lease) at the expiration of the term. Prior to obtaining building permits for the New Building Lessor shall not be required to keep maintain the Security Deposit security deposit in a separate from its general accountsaccount. However, and interest shall have no obligation or liability for payment of interest accrue on the Security Depositsecurity deposit at the rate payable on a standard interest-bearing account and be paid semi-annually to Lessee. In Following the event Sublessor assigns issuance of building permits the security deposit shall be maintained by Lessor in a separate interest-bearing account with all interest paid to Lessee semi-annually. Should the Lessor sell its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, the Lessor may transfer to the purchaser thereof the then unexpended or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, unappropriated deposit and provided Sublessee is not then in default of any of its obligations hereunder, thereupon the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, Lessor shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderdischarged from any liability for such funds.

Appears in 1 contract

Samples: GRC International Inc

Security Deposit. Upon execution hereof by Sublessee, Sublessee shall deposit with pay to Sublessor upon execution of this Sublease as the "Security Deposit," the sum of Twenty One Hundred Four Thousand Two Hundred Sixty-Two Dollars and Fifty and 40/100ths Dollars Cents ($20,250.40104,262.50). Sublessor shall deposit this amount in a separate interest bearing account with the Prepaid Rent as set forth in paragraph 4(c), and Sublessor shall pay to Sublessee any accrued interest or earnings on the Security Deposit on an annual basis within thirty (30) as security for days after each anniversary of the Commencement Date of this Sublease. The Security Deposit shall secure Sublessee's faithful full and timely performance of Sublessee's all of its obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent Rent or any other charges sums as and when due under hereunder or otherwise fails to perform with respect to any provision of this Sublease, or fails to perform and such failure continues beyond any of its other obligations hereundernotice and applicable cure period, then, Sublessor may use (but shall not be obligated to) use, apply, or apply retain all or any portion of the Security Deposit for the payment of which will be reasonably necessary to pay any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessee is obligated or to compensate Sublessor for any foreseeable or unforeseeable loss or damage which Sublessor may become obligated by reason suffer thereby including, without limitation, any damage that will result in the future through the term of Sublessee's default or breachthe Sublease, to repair damage to the Subleased Premises, to clean the Subleased Premises at the end of the term or for any loss or damage sustained caused by the act or omission of Sublessee or Sublessee's officers, agents, employees, contractors or invitees. Sublessee waives the provisions of California Civil Code Section 1950.7 and all other provisions of law now in force or that become in force after the date of execution of this Sublease that provide that Sublessee may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Tenant or to clean the Subleased Premises. Any such use, application, or retention shall not constitute a waiver by Sublessor as a result of Sublessee's default its right to enforce its other remedies hereunder, at law, or breachin equity. If Sublessor so uses any portion of the Security DepositDeposit is so used, applied, or retained, Sublessee shall, within ten fifteen (1015) days after delivery of written demand by from Sublessor, restore the Security Deposit said deposit to the full amount originally deposited, and its original amount. Sublessee's failure to do so shall constitute a default under material breach of this Sublease, and in such event Sublessor may elect, among or in addition to other remedies, to terminate this Sublease. Sublessor shall not be a trustee of the Security Deposit, but shall be required to keep this deposit (along with the Security Deposit Prepaid Rent) separate from its general other accounts. If Sublessee fully and faithfully performs all of its obligations hereunder, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee then so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, remains shall be returned to Sublessee (with payment of interest or to earnings thereon) within 30 days after the last assigneelater of (i) expiration or sooner termination of the term hereof, if any, of or (ii) Sublessee's interest hereundersurrender of possession of the Subleased Premises to Sublessor.

Appears in 1 contract

Samples: Agreement of Sublease (Digitalthink Inc)

Security Deposit. Sublessee shall deposit with Sublessor Subtenant shall, upon mutual execution of this Sublease Sublease, deposit with Sublandlord the sum of Twenty Seventy-Six Thousand Two One Hundred Fifty and 40/100ths Twenty-Five Dollars ($20,250.4076,125.00) as security for Sublessee's faithful the full performance of Sublessee's obligations hereunder ("Security Deposit")every provision of this Sublease to be performed by Subtenant. If Sublessee fails Subtenant defaults with respect to pay rent or other charges when due under any provision of this Sublease, Sublandlord may use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion part of the Security Deposit this security deposit (or any additional security as hereinafter required) for the payment of any base rent, additional rent or any other amount then due hereunder and unpaidsum in default, or for the payment of any other sum for amount which Sublessor Sublandlord may spend or become obligated to spend by reason of SublesseeSubtenant's default or breachdefault, or to compensate Sublandlord for any loss other loss, cost or damage sustained which Sublandlord may suffer by Sublessor as a result reason of SublesseeSubtenant's default or breachdefault. If Sublessor so uses any portion of the Security Depositsaid deposit or additional security is so used or applied, Sublessee Subtenant shall, within ten (10) days after written demand by Sublessortherefor, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit security deposit to the full its original amount originally deposited, and SublesseeSubtenant's failure to do so shall constitute be a default under breach of this Sublease. Sublessor Sublandlord shall not not, unless otherwise required by law, be required to keep the Security Deposit this security deposit (or any additional security as hereinafter required) separate from its general accounts, and shall have no obligation or liability for payment of funds nor pay interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much Subtenant. If Subtenant defaults with respect to any provision of the Security Deposit this Sublease more than twice in any calendar year, Subtenant shall, as is then held by Sublessor. Within additional security for Subtenant's performance of this Sublease and within ten (10) days after written demand therefor, deposit cash with Sublandlord equal to twice the Term has expired, or Sublessee has vacated monthly Base Rent in effect for the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then month in which Subtenant's third default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderoccurred.

Appears in 1 contract

Samples: Sublease Agreement (Mp3 Com Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon Within ten (10) business days after the execution of this Sublease Sublease, Sublessee shall pay to Sublessor the first month's rent due and provide Sublessor the additional sum of Twenty Eight Thousand Two Nine Hundred Fifty One and 40/100ths 00/100 Dollars ($20,250.408,901.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which the Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally depositeddeposited less any amounts applied to the first months' rent, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten thirty (1030) days after the Term has expiredtermination of this Sublease, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore therefore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderinterest.

Appears in 1 contract

Samples: Sublease Agreement (Avenue a Inc)

Security Deposit. Sublessee Upon execution hereof, Subtenant shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Sublandlord Twenty-Eight Thousand Two Three Hundred Fifty Forty-One and 40/100ths 32/100 Dollars ($20,250.4028,341.32) in cash, as security for Sublessee's faithful the performance by Subtenant of Sublessee's obligations hereunder ("Security Deposit")the terms and conditions of this Sublease. If Sublessee Subtenant fails to pay rent Rent or other charges when due under otherwise defaults with respect to any provision of this Sublease, Sublandlord may draw upon, use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit security deposit for the payment of any rent or Rent, other amount then due hereunder and unpaidexpenses arising out of any such default, for the payment of any other sum for which Sublessor may Sublandlord has become obligated to pay by reason of SublesseeSubtenant's default or breachdefault, or to compensate Sublandlord for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachout-of-pocket expenses which Sublandlord has suffered thereby. If Sublessor Sublandlord so uses or applies all or any portion of the Security Depositsecurity deposit, Sublessee then Subtenant shall, within ten (10) days after written demand by Sublessortherefor, deposit cash with Sublandlord in the amount required to restore the Security Deposit to security deposit. At the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much end of the Security Deposit as is then held by Sublessor. Within ten (10) days after Sublease Term, Sublandlord shall return to Subtenant that portion of the Term security deposit which has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by SublessorSublandlord pursuant to this Paragraph 10, shall be returned or which is not otherwise required to Sublessee or to the last assigneecure Subtenant's defaults, if any, of Sublesseewithout interest. Sublandlord may hold such security deposit together with Sublandlord's interest hereunderother funds.

Appears in 1 contract

Samples: Lease Agreement (Cygnus Inc /De/)

Security Deposit. Immediately upon satisfaction of the Sub-Sublease Consent Contingency (or earlier, if required by Sybase or Owner), Sublessee shall deposit with pay to Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $ 100,237.50 ($20,250.40the "Security Deposit") as security for Sublessee's faithful the full and timely payment and performance of Sublessee's obligations hereunder ("Security Deposit")under this Sub-Sublease. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform in a full and timely manner any of its other obligations hereunderunder this Sub-Sublease, and such failure continues after the giving of any required notice and the expiration of any applicable grace period, Sublessor may use or apply all or any portion of the Security Deposit for the payment of toward curing any rent or other amount then due hereunder such failure and unpaid, for the payment of any other sum for which compensating Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss loss, damage or damage sustained by Sublessor as a result of Sublessee's default or breachexpenses arising from such failure. If Sublessor so uses applies any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, shall immediately pay to Sublessor the amount necessary to restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Subleaseits original amount. Sublessor shall not be required to keep deposit the Security Deposit separate from in a segregated account, with interest to Sublessee. If Sublessor assigns its general accountsinterest in this Sublease and transfers the Security Deposit (or any balance thereof) to its assignee, Sublessee shall look only to such assignee for the application and shall have no obligation or liability for payment return of interest on the Security Deposit. In the event that Sublessee receives cash net proceeds from equity financings in the aggregate amount of $3.0 million or more during the Lease Term, then Sublessor assigns its interest in shall reimburse Sublessee $33,412.50 of the Security Deposit previously paid by Sublessee hereunder within seven (7) days after receipt of written confirmation from Sublessee that such equity financings have closed. Within thirty (30) days after the expiration of the Lease Term heretofore earlier termination of this Sub-Sublease, Sublessor shall deliver to its assignee so much of refund the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had remains after Sublessor's use or application thereof). In lieu of a cash Security Deposit, Sublessee may deliver to Sublessor a clean, irrevocable letter of credit ("Letter of Credit") in the amount of the Security Deposit naming Sublessor as the beneficiary thereunder and having an expiration date not theretofore been applied by Sublessorless than twenty-four (24) months from the date of issuance and, shall be returned to Sublessee or to the last assigneein such event, if any, of Sublessee's interest hereunder.(a) all

Appears in 1 contract

Samples: Silverstream Software Inc

Security Deposit. Sublessee shall deposit with Sublessor upon execution and maintain during the Term the cash sum of Sixty Thousand and 00/100 Dollars ($60,000.00) as a security deposit (the “Security Deposit”) which Sublessor shall hold as security for the full and faithful performance by Sublessee of every term, provision, obligation and covenant under this Sublease and subject to the terms and conditions of this Sublease. The Security Deposit shall be paid to Sublessor on the Commencement Date. The Security Deposit may be deposited by Sublessor into an interest-bearing account, which interest shall accrue for the sole benefit of Sublessor and not Sublessee. The Security Deposit shall not be considered an advance payment of Rent (or of any other sum payable by Sublessee under this Sublease) or a measure of Sublessor’s damages in case of a default by Sublessee. Sublessor shall have no obligation to maintain the Security Deposit separate and apart from Sublessor’s general and/or other funds. If Sublessee defaults in respect of any of the terms, HNZW/478508_3.docx/3583-1 provisions, covenants and conditions of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"or if there is a default under any agreement or instrument with which this Sublease is cross-defaulted). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or may, but shall not be required to, in addition to and not in lieu of any other rights and remedies available to Sublessor, apply all or any part of the Security Deposit to the payment of any sum in default, or any other sum that Sublessor may expend or be required to expend by reason of Sublessee’s default, including but not limited to, any damages or deficiency in reletting the Premises. Whenever, and as often as, Sublessor has applied any portion of the Security Deposit for the payment of to cure Sublessee’s default hereunder or under any rent or other amount then due hereunder and unpaid, for the payment of any other sum for agreement with which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Depositthis Sublease is cross-defaulted, Sublessee shall, within ten (10) days after written demand by Notice from Sublessor, deposit additional money with Sublessor sufficient to restore the Security Deposit to the full amount originally depositedthen required to be deposited with Sublessor, and Sublessee's ’s failure to do so shall constitute a default under this Subleasean Event of Default without any further Notice. If Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation transfers or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in under this Sublease, Sublessor shall deliver to its assignee so much of assign the Security Deposit as is then held by Sublessor. Within ten (10) days after to the Term has expired, or Sublessee has vacated new Sublessor and thereafter Sublessor shall have no further liability for the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default return of any of its obligations hereunder, the Security Deposit, and Sublessee agrees to look solely to the new Sublessor for the return of the Security Deposit. Sublessee agrees that it will not assign or so much thereof as had not theretofore been applied by encumber or attempt to assign or encumber the Security Deposit and that Sublessor, shall be returned to Sublessee or its successors and assigns may return the Security Deposit to the last assigneeSublessee in possession of the Premises at the last address for which Notice has given by such Sublessee and that Sublessor thereafter shall be relieved of any liability therefor, if any, regardless of Sublessee's interest hereunder.one or more assignments of this Sublease or any such actual or attempted assignment or encumbrances of the Security Deposit

Appears in 1 contract

Samples: Sublease Agreement (Adcare Health Systems, Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty One Thousand Two Five Hundred Fifty and 40/100ths Sixty-Four & No/100 Dollars ($20,250.401564.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder. THE ABOVE SECURITY DEPOSIT SHALL BE APPLIED AS RENT FOR THE MONTH OF DECEMBER 1999.

Appears in 1 contract

Samples: Anchor Pacific Underwriters Inc

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease Sublessor, at lease execution, the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 38,620 as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sublessor may become obligated by any reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all of any portion of the Security Depositsaid deposit, Sublessee shall, within ten (10) days after written demand by Sublessortherefor, deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under breach of this Sublease, and Sublessor may at it's option, terminate this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much If Sublessee performs all of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Deposit, said deposit or so much thereof as had not theretofore been applied by Sublessor, Sublessor shall be returned returned, without payment of interest for it's use, to Sublessee or (or, at Sublessee's option, to the last assignee, if any, of Sublessee's interest hereunder) within ten (10) days after the expiration of the term hereof, or after Sublessee has vacated the Premises, whichever is later.

Appears in 1 contract

Samples: Concur Technologies Inc

Security Deposit. Sublessee Subtenant shall deposit with Sublessor Sublandlord, upon the ---------------- completion, execution and delivery of this Sublease Sublease, the sum of Twenty Forty Five Thousand Two Five Hundred Fifty Seventy Five Dollars and 40/100ths Dollars seventy cents ($20,250.4045,575.70) to be held by Sublandlord, without obligation to pay interest thereon, as security for SublesseeSubtenant's faithful covenants to pay the rental herein reserved and for the keeping and performance of Sublessee's all other covenants and obligations hereunder ("Security Deposit")required to be kept or performed by Subtenant under the terms and provisions of the Sublease. If Sublessee fails to pay rent or other charges when due under this SubleaseIn the event of any default on the part of Subtenant in the payment of said rental, or fails to perform in the keeping of performance of any of its the other obligations hereundercovenants required to be kept or performed by Subtenant, Sublessor may use or Sublandlord shall have the right, but not the obligation, to apply all said security deposit, or any portion of thereof, to cure such default. In the Security Deposit for event the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated security is reduced by reason of Sublessee's default or breachsuch application, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, then within ten five (105) days after written demand by Sublessornotice thereof from Sublandlord, Subtenant shall deposit with Sublandlord such sum as may be necessary to restore the Security Deposit security deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Depositoriginal amount. In the event Sublessor assigns its interest in absence of any default on the part of the Subtenant, Sublandlord shall repay the said security deposit without deduction, to Subtenant promptly upon the termination of this SubleaseLease, Sublessor shall deliver but if the security deposit has been reduced to cure any default on the part of Subtenant, and has not been restored to its assignee so much original amount, the remainder of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessorsecurity deposit if any, shall be returned promptly paid to Sublessee or to the last assignee, if any, Subtenant upon termination of Sublessee's interest hereunderthis Lease.

Appears in 1 contract

Samples: Work Letter Agreement (Netiq Corp)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease hereof the sum of Twenty Fifteen Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.4015,000.00) as security a Security Deposit for Sublessee's Sublessees faithful performance of Sublessee's Sublessees obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent or other charges when due under hereunder or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, charge in default for the payment of any other sum for to which Sublessor may become obligated by reason of Sublessee's default or breachSublessees default, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, therefor deposit cash with Sublessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, and Sublessee's failure said deposit. Failure to do so shall constitute a default under be breach of this Sublease, and Sublessor may, at its option, terminate this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expiredexpiration of the term hereof, or on condition that Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occurpremises, and provided Sublessee is not then in default has fully and faithfully performed every provision of any of its obligations hereunderthis Sublease to be performed by it, the Security Deposit, Deposit or so much any balance thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or (or, at Sublessors option, to the last assignee, if any, of Sublessee's or Sublessees interest hereunder).

Appears in 1 contract

Samples: Lease (Steri Oss Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution and maintain during the Term the cash sum of One Hundred Thousand and 00/100 Dollars ($100,000.00) as a security deposit (the “Security Deposit”) which Sublessor shall hold as security for the full and faithful performance by Sublessee of every term, provision, obligation and covenant under this Sublease and subject to the terms and conditions of this Sublease. The Security Deposit shall be paid to Sublessor as follows: (i) $33,000.00 on the Commencement Date, (ii) $33,000.00 on the 30th day after the Commencement Date and (iii) $34,000.00 on the 60th day after the Commencement Date. The Security Deposit may be deposited by Sublessor into an interest-bearing account, which interest shall accrue for the sole benefit of Sublessor and not Sublessee. The Security Deposit shall not be considered an advance payment of Rent (or of any other sum payable by Sublessee under this Sublease) or a measure of Sublessor’s damages in case of a default by Sublessee. Sublessor shall have no obligation to maintain the Security Deposit separate and apart from Sublessor’s general and/or other funds. If Sublessee defaults in respect of any of the terms, provisions, covenants and conditions of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"or if there is a default under any agreement or instrument with which this Sublease is cross-defaulted). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or may, but shall not be required to, in addition to and not in lieu of any other rights and remedies available to Sublessor, apply all or any part of the Security Deposit to the payment of any sum in default, or any other sum that Sublessor may expend or be required to expend by reason of Sublessee’s default, including but not limited to, any damages or deficiency in reletting the Premises. Whenever, and as often as, Sublessor has applied any portion of the Security Deposit for the payment of to cure Sublessee’s default hereunder or under any rent or other amount then due hereunder and unpaid, for the payment of any other sum for agreement with which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Depositthis Sublease is cross-defaulted, Sublessee shall, within ten (10) days after written demand by Notice from Sublessor, deposit additional money with Sublessor sufficient to restore the Security Deposit to the full amount originally depositedthen required to be deposited with Sublessor, and Sublessee's ’s failure to do so shall constitute a default under this Subleasean Event of Default without any further Notice. If Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation transfers or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in under this Sublease, Sublessor shall deliver to its assignee so much of assign the Security Deposit as is then held by Sublessor. Within ten (10) days after to the Term has expired, or Sublessee has vacated new Sublessor and thereafter Sublessor shall have no further liability for the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default return of any of its obligations hereunder, the Security Deposit, and Sublessee agrees to look solely to the new Sublessor for the return of the Security Deposit. Sublessee agrees that it will not assign or so much thereof as had not theretofore been applied by encumber or attempt to assign or encumber the Security Deposit and that Sublessor, shall be returned to Sublessee or its successors and assigns may return the Security Deposit to the last assigneeSublessee in possession of the Premises at the last address for which Notice has given by such Sublessee and that Sublessor thereafter shall be relieved of any liability therefor, if any, regardless of Sublessee's interest hereunder.one or more assignments of this Sublease or any such actual or attempted assignment or encumbrances of the Security Deposit

Appears in 1 contract

Samples: Sublease Agreement (Adcare Health Systems, Inc)

Security Deposit. Sublessee shall deposit Concurrently with Sublessor upon the execution of this Sublease by ---------------- Subtenant, Subtenant has deposited with Sublandlord the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance 34,125.00, the receipt of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated is hereby acknowledged by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by SublessorSublandlord. Within ten (10) business days of the commencement of the seventh month of the Term, Subtenant shall deposit with Sublandlord an additional $8,925.00, thereby providing a total security deposit of $43,050.00. Failure of Subtenant to timely deliver such additional sum of $8,925.00 shall, without notice or grace, be an immediate default hereunder. Such initial sum of $34,125.00 and the additional sum of $8,925.00 are collectively referred to as the "Security Deposit." This sum shall ---------------- be retained by Sublandlord as security for the payment by Subtenant of the Rents and all other payments agreed in this Sublease to be paid by Subtenant and for the faithful performance by Subtenant of the terms, provisions, covenants and conditions of this Sublease. Sublandlord at Sublandlord's option may at the time of any default by Subtenant apply said sum or any part of it towards the payment of the Rent and towards the performance of each and every one of Subtenant's covenants under this Sublease, and for any sum which Sublandlord may spend or be required to spend because of Subtenant's default, including any damages or deficiency in reletting, but such covenant and Subtenant's liability under this Sublease shall thereby be discharged only pro tanto; Subtenant shall remain liable for any amounts that such sum shall be insufficient to pay. Sublandlord may exhaust any or all rights and remedies against Subtenant before resorting to said sum, but nothing in this Sublease shall require or be deemed to require Sublandlord to do so. If Sublandlord applies all or part of the Security Deposit as provided in this paragraph, Subtenant shall, promptly upon demand of Sublandlord, deposit with Sublandlord the amount so applied so that Sublandlord shall have the full Security Deposit on hand at all times during the term. In the event this Security Deposit shall not be utilized for any such purpose, then, provided Subtenant has fully performed under this Sublease and has vacated the Sublease Premises and surrendered all keys to the Sublease Premises, but not if Sublandlord has terminated this Sublease due to Subtenant's default under any provision of this Sublease, it shall be returned by Sublandlord to Subtenant within thirty (30) days after the Term has expired, expiration of the term or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, determination and provided Sublessee is not then in default payment of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assigneeall amounts due under this Sublease, if any, of Sublessee's whichever occurs later. Sublandlord will not be required to pay Subtenant any interest hereunderon the Security Deposit and Sublandlord may commingle the Security Deposit with its own funds.

Appears in 1 contract

Samples: Sublease Agreement (Davox Corp)

Security Deposit. Sublessee Subtenant shall deposit with Sublessor Sublandlord upon Subtenant's execution of this Sublease hereof, in cash, the sum of Twenty Forty-Nine Thousand Four Hundred Eighty-Two Hundred Fifty and 40/100ths 54/100 Dollars ($20,250.4049,482.54) (the "Security Deposit") as security for SublesseeSubtenant's faithful performance of SublesseeSubtenant's obligations hereunder ("Security Deposit")hereunder. If Sublessee Subtenant fails to pay rent any Rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, Sublandlord may use, apply or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaidcharge in default, or for the payment of any other sum for which Sublessor may become obligated Sublandlord incurs by reason of SublesseeSubtenant's default or breachdefault, or to compensate Sublandlord for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachwhich Sublandlord may suffer thereby. If Sublessor so Sublandlord uses or applies all or any portion of the Security Deposit, Sublessee shall, Subtenant must within ten (10) days after written demand by Sublessor, therefor deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the its full amount originally deposited, and SublesseeSubtenant's failure to do so shall constitute will be a default under material breach of this Sublease. Sublessor Sublandlord shall not not, unless otherwise required by law, be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of nor pay interest on the Security DepositDeposit to Subtenant. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much If Subtenant performs all of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Subtenant's obligations hereunder, the Security Deposit, or so much thereof as had has not theretofore been used or applied by SublessorSublandlord, shall will be returned to Sublessee Subtenant (or at Sublandlord's option, to the last assignee, if any, of SublesseeSubtenant's interest hereunder) at the expiration or earlier termination of the Sublease Term, and within thirty (30) days after Subtenant has vacated the Subleased Premises. Subtenant hereby waives (i) California Civil Code Section 1950.7 (or any successor law) and any and all other laws, rules and regulations applicable to security deposits in the commercial context ("Security Deposit Laws"), and (ii) any and all rights, duties and obligations either party may now or, in the future, will have relating to or arising from the Security Deposit Laws. Notwithstanding anything to the contrary contained herein, the Security Deposit may be retained and applied by Sublandlord (a) to offset Rent which is owed and unpaid by Subtenant either before or after termination of this Sublease, and (b) against other damages suffered by Sublandlord due to the acts or omissions of Subtenant or Subtenant's agents, employees, contractors, invitees or licensees before or after termination of this Sublease. No trust relationship is created herein between Sublandlord and Subtenant with respect to the Security Deposit. Sublessor has a security interest in the Security Deposit pursuant to the Uniform Commercial Code of the state in which the Subleased Premises is located. Any deposit paid by Sublandlord under the Lease which may be returned by the Landlord will be the property of Sublandlord.

Appears in 1 contract

Samples: Finjan Holdings, Inc.

Security Deposit. Sublessee shall deposit with Sublessor Sublessor, upon execution of this Sublease hereof, the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Zero Dollars ($20,250.400) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay when due rent or additional rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may, in addition to all of its rights and remedies under this Sublease and at law, require Sublessee to immediately deposit with Sublessor a Security Deposit equal to (1) month's fixed rent and Sublessee's Proportionate Share of Ownership taxes and Operating Expenses. Thereafter, Sublessor may use use, apply or apply retain all of or any portion of the Security Deposit said deposit for the payment of any rent rent, additional rent, or other amount then due hereunder and unpaid, for the payment of any other sum charges for which Sublessor Sublessee may become obligated by reason of Sublessee's default or breach, or and to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses uses, retains, or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, within ten (10) days after written demand by Sublessortherefor, deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, hereinabove stated and Sublessee's failure to do so shall constitute be a default under breach of this Sublease, and Sublessor may, at his option, terminate this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much If Sublessee performs all of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Deposit, said deposit or so much thereof as had not theretofore been used, retained or applied by Sublessor, Sublessor shall be returned to Sublessee or (or, at Sublessor's option, to the last assignee, if any, of Sublessee's interest hereunder) and without interest for the use thereof within ten (10) days after the expiration of the term hereof, or after Sublessee has vacated the Subleased Premises, whichever is later.

Appears in 1 contract

Samples: Sublease Agreement (Mobius Management Systems Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Eighty-Seven Thousand Two Seven Hundred Fifty Fifty-Eight and 40/100ths No/100 Dollars ($20,250.4087,758.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's for Sublessee default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and SublesseeSublease's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: 800 Com Inc

Security Deposit. Upon execution of this Sublease, Sub-Sublessee shall deposit with Sub-Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $46,533.62 ($20,250.40hereinafter referred to as the “Security Deposit”) as security for Sublessee's faithful the full performance of every provision of this Sublease by Sub-Sublessee's obligations hereunder ("Security Deposit"). If Sub-Sublessee fails to pay rent or other charges when due under shall fully perform each provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any that portion of the Security Deposit for which has not been used by Sub-Sublessor to apply to any costs, charges or payments owing by Sub-Sublessee to Sub-Sublessor hereunder shall be returned to Sub-Sublessee without interest within thirty (30) days after the payment expiration or earlier termination (except where such termination is pursuant to Section 11) of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublease. Sub-Sublessor may become obligated deliver the funds deposited hereunder by reason Sub-Sublessee to the purchaser or transferee of Sublessee's default Sub-Sublessor’s interest in the Premises in the event that such interest be sold or breachtransferred, and, in the event the purchaser or for transferee agrees in writing to assume all of the obligations of Sub-Sublessor under this Sublease, thereupon Sub-Sublessor shall be discharged from any loss or damage sustained by Sublessor as a result of Sublessee's default or breachfurther liability with respect to such Security Deposit. If Sublessor so uses an event of default under the Sublease shall occur and continue beyond the applicable notice and cure period, Sub-Sublessee shall, upon receipt of written notice from Sub-Sublessor, promptly pay and restore any portion amounts of the Security DepositDeposit that have been credited against Base Rent or Additional Rent hereunder. If Master Lessor or Sublessor terminates or revokes its consent to this Sublease for any reason other than the default by Sub-Sublessee, and this Sublease terminates as a result, so long as Sub-Sublessee shallis not in default hereunder beyond any applicable notice and cure period and Sub-Sublessee timely vacates the Subleased Premises without any damage thereto, within ten (10) days after written demand by Sublessor, restore Sub-Sublessor shall return the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten Sub-Sublessee within fifteen (1015) days after the Term has expired, following such termination or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderrevocation.

Appears in 1 contract

Samples: Sub Sublease Agreement (Mast Therapeutics, Inc.)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Eight Thousand Two Seven Hundred Fifty Fifty-Three and 40/100ths 55/100 Dollars ($20,250.408,753.55) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder [ILLEGIBLE] hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Lease and Parking License Agreement (Imageware Systems Inc)

Security Deposit. Sublessee On or before the Commencement Date, Sublessee, at its sole cost and expense, shall deposit with Sublessor upon execution a clean, irrevocable and unconditional standby letter of this Sublease credit in a form acceptable to Sublessor in its reasonable discretion (“Letter of Credit”) issued by a bank approved by Sublessor in its reasonable judgment (hereinafter referred to as the sum “Bank”) in favor of Sublessor, in the amount of One Hundred Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40120,000) (“Security Deposit”) as security for Sublessee's the faithful performance and observance by Sublessee of the terms, conditions and provisions of this Sublease, including without limitation the surrender of possession of the Premises to Sublessor as herein provided. The Letter of Credit shall have a term which expires no sooner than the Expiration Date, or Sublessee may deliver a Letter of Credit with a one (1) year term which by its terms automatically, for the remainder of the Sublease Term, renews for successive one (1) year periods unless the Bank provides no less than thirty (30) days written notice to Sublessor that such Letter of Credit shall not be renewed, in which event Sublessor shall have the right to draw down the entire amount of the Letter of Credit unless Sublessee substitutes, not less than ten days prior to the expiration of such Letter of Credit, a new Letter of Credit which meets the requirements of this Paragraph 5. On the first day of the twenty-fourth (24th) month of the Sublease Term, provided Sublessee is not then in default under the terms of this Lease, such Letter of Credit shall be reduced in half (1/2) to Sixty Thousand Dollars ($60,000) (Sublessee shall provide Sublessor with a new Letter of Credit in such amount, and upon receipt, Sublessor shall return the $120,000 Letter of Credit to Sublessee or Bank, as directed by Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent Rent or other charges when due otherwise defaults under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply draw upon all or any portion of the Security Deposit Letter of Credit for the payment of any rent or other amount then due hereunder and unpaidSublessor or to reimburse or compensate Sublessor for any liability, for the payment of any other sum for cost, expense, loss or damage (including attorney’s fees) which Sublessor may become obligated suffer or incur by reason thereof (including without limitation any requirement that Sublessor repay any amounts previously paid by Sublessee to Sublessor because such amounts are determined to be preferential transfers under applicable bankruptcy law). The use or application of Sublessee's default the Letter of Credit or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of thereof shall not prevent Sublessor from exercising any other right or remedy provided under this Sublease and shall not be construed as liquidated damages. Sublessee shall on demand pay Sublessor the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, amount so used or applied or restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under required by this SubleaseParagraph 5. Sublessor shall not be required to keep all or any part of the Security Deposit separate from its general accounts. Sublessor shall, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten within fifteen (1015) days after the Term has expired, expiration or earlier termination of this Sublease and after Sublessee has vacated the Premises, return to Sublessee that portion of the Security Deposit not used or applied by Sublessor. No part of the Security Deposit shall be considered to be held in trust, to bear interest, or to be prepayment for any final adjustment pursuant monies to Subsection 6.2 hereof has been madebe paid by Sublessee under this Sublease, whichever shall last occurexcept as provided herein. Notwithstanding anything to the contrary contained in this Sublease, and provided Sublessee is not then in default the event Sublessor files for bankruptcy (voluntarily or involuntarily) or makes a general assignment for the benefit of any of its obligations hereundercreditors, the Security Deposit, or so much thereof as had Deposit shall not theretofore been applied by Sublessor, be considered part of the assets of Sublessor and shall be immediately returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease (Digirad Corp)

Security Deposit. The Sublessee shall has delivered to Sublessor a ---------------- security deposit with Sublessor upon execution in the amount of $150,528.00 as a security deposit for the full and faithful performance of each and every provision of this Sublease to be performed by Sublessee, on the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars understanding that: ($20,250.40a) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("the Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all Deposit or any portion of thereof not previously applied, or from time to time, such one or more portions thereof, may be applied to cure any default that may then exist, without prejudice to any other remedy or remedies which Sublessor may have on account thereof, and upon such application Sublessee shall pay Sublessor on demand the amount so applied which shall be added to the Security Deposit for so the payment of any rent or other amount then due hereunder and unpaid, for same may be restored to its original amount; (b) should the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand Prime Lease be assigned by Sublessor, restore the Security Deposit or any portion thereof not previously applied may be paid to the full amount originally depositedSublessor's assignee and if the same is paid as aforesaid, Sublessee hereby releases Sublessor from any and Sublessee's failure all liability with respect to do so shall constitute a default under this Sublease. the Security Deposit and/or its application or return; (c) if permitted by law, Sublessor or its successor shall not be required obligated to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of hold the Security Deposit as is then held by Sublessor. Within ten a separate fund, but on the contrary may commingle the same with its other funds; (10d) days after if Sublessee shall faithfully perform and observe all of the Term has expiredterms, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occurcovenants, and provided conditions in this Sublease and in the Prime Lease set forth and contained on the part of Sublessee is not then in default of any of its obligations hereunderto be fulfilled, kept, performed and observed, the Security Deposit, sum deposited or so much the portion thereof as had not theretofore been applied by Sublessorpreviously applied, shall be returned to Sublessee without interest no later than thirty (30) days after the expiration of the Term of this Sublease or any renewal or extension thereof, provided Sublessee has vacated the Premises and surrendered possession thereof to Sublessor at the expiration of the Term or any extension or renewal thereof as provided herein; (e) in the event that Sublessor terminates this Sublease or Sublessee's right to possession by reason of a Default by Sublessee, Sublessor may apply the Security Deposit against damages suffered to the last assigneedate of such termination and/or may retain the Security Deposit to apply against such damages as may be suffered or shall accrue thereafter by reason of Sublessee's default; (f) in the event any bankruptcy, insolvency, reorganization or other creditor-debtor proceedings shall be instituted by or against Sublessee, or its successors or assigns, the Security Deposit shall be deemed to be applied first to the payment of any Rent due Sublessor for all periods prior to the institution of such proceedings, and the balance, if any, of Sublesseethe Security Deposit may be retained or paid to Sublessor in partial liquidation of Sublessor's interest hereunder.damages. Sublessor's parent corporation, Globelle Corporation, an Ontario corporation, ("Guarantor") has executed the Sublease solely for the purpose of agreeing to guaranty the performance of the Sublessor with respect to the Security Deposit. The Guarantor hereby submits to personal jurisdiction in the State of Minnesota for the enforcement of this Guaranty and waives any and all personal rights to object to such jurisdiction for the purposes of litigation to enforce this Guaranty. In the event such litigation is commenced at any time when Guarantor is not permanently domiciled in the State of Minnesota, Guarantor agrees that service of process may be made and personal jurisdiction over Guarantor obtained, by service of a copy of the summons, complaint and other pleadings required to commence such litigation upon appointed Agent for Service of Process in the State of Minnesota, which Agent Guarantor hereby designates to be:

Appears in 1 contract

Samples: Wam Net Inc

Security Deposit. Sub-Sublessee shall deposit with Sub-Sublessor upon execution of this Sublease on the effective Date the sum of Twenty Thirty Five Thousand Two One Hundred Fifty and 40/100ths Seventy Eight Dollars ($20,250.40) 35,178.00), as security for Sub-Sublessee's faithful performance of Sublessee's its obligations hereunder (the "Security Deposit"). If Sub-Sublessee fails to pay rent Rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sub-Sublease, or fails to perform any of its other obligations hereunder, Sub-Sublessor may use use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for to which Sub-Sublessor may become obligated by reason of Sub-Sublessee's default or breachdefault, or to compensate Sub-Sublessor for any loss or damage sustained by which Sub-Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sub-Sublessor so uses or applies all or any portion of the Security Deposit, Sub-Sublessee shall, within ten (10) days after its receipt of Sub-Sublessor's written demand by Sublessordemand, deposit cash with Sub-Sublessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, and set forth above. Sub-Sublessee's failure to do so shall constitute be a default under material breach of this Sub-Sublease. Sub-Sublessor shall not be required to keep the Security Deposit separate from its general accounts. If Sub-Sublessee performs all of its obligations hereunder, following the Termination Date and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sub-Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever Sub-Sublessor shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, return the Security Deposit, Deposit (or so much the portion thereof as had which has not theretofore been applied by Sub-Sublessor) to Sub-Sublessee (or at Sub-Sublessor's option, shall be returned to Sublessee or to the last assignee, if any, of Sub-Sublessee's interest hereunderin the Sub-Sublease). No trust relationship is created herein between Sub-Sublessor and Sub-Sublessee with respect to the Security Deposit. No payment of interest or other incremental charge shall be payable to Sub-Sublessee for Sub-Sublessor's use of the Security Deposit.

Appears in 1 contract

Samples: Microcide Pharmaceuticals Inc

Security Deposit. Upon execution hereof, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty Eighty Thousand Four Hundred Ten and 40/100ths 34/100 Dollars ($20,250.40280,410.34) as security and for a Security Deposit to secure Sublessee's faithful full and timely performance of Sublessee's all of its obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent Rent or any other charges sums as and when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use (but shall not be obligated to) use, apply, or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessee is obligated or which will compensate Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained which Sublessor may suffer thereby. Any such use, application, or retention shall not constitute a waiver by Sublessor as a result of Sublessee's default its right to enforce its other remedies hereunder, at law, or breachin equity. If Sublessor so uses any portion of the Security Depositsaid deposit is so used, applied, or retained, Sublessee shall, within ten 10 (10ten) days after delivery of written demand by from Sublessor, restore the Security Deposit said deposit to the full amount originally deposited, and its original amount. Sublessee's failure to do so shall constitute a default under material breach of this Sublease, and in such event Sublessor may elect, among or in addition to other remedies, to terminate this Sublease. Sublessor shall not be a trustee of such deposit, and shall not be required to keep the Security Deposit this deposit separate from its general accounts, . Sublessor alone shall be entitled to any interest or earnings thereon and Sublessor shall have no obligation or liability for payment the free use of interest on the Security Depositsame. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or If Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, fully and provided Sublessee is not then in default of any faithfully performs all of its obligations hereunder, the Security Deposit, or then so much thereof of the deposit as had not theretofore been applied by Sublessor, remains shall be returned to Sublessee (without payment of interest or earnings thereon) within 30 days after the later of (i) expiration or sooner termination of the term hereof, (ii) Sublessee's surrender of possession of the Subleased Premises to the last assigneeSublessor, or (iii) completion of restoration obligations, if any, of by Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Neoforma Com Inc)

Security Deposit. Sublessee shall deposit has deposited with Sublessor upon the execution of this Agreement of Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths $13,782.43 Dollars ($20,250.40) as security for Sublessee's the faithful performance and observance of Sublessee's obligations hereunder ("Security Deposit")this Agreement of Sublease including, but not limited to, the payment of Base Rent and additional rent. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use use, apply or apply all retain the whole or any portion part of the Security Deposit security so deposited to the extent required for the payment of any Base Rent and additional rent or other amount then due hereunder and unpaid, for the payment of any other sum as to which Sublessee is in default or for any sum which Sublessor may become obligated reasonably expend or may be required to expend by reason of Sublessee's default in respect of any of the terms, covenants and conditions of this Agreement of Sublease, including, but not limited to, any damages or breach, deficiency shall have accrued before or for any loss after summary proceedings or damage sustained other re-entry by Sublessor as a result of Sublessee's default or breachLessor. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten agrees (10a) days after written demand by Sublessor, to restore the Security Deposit to the its initial full amount originally deposited, upon any application of any part or the whole thereof by Sublessor and Sublessee(b) Sublessor's failure to do so shall constitute a default rights hereunder are non-exclusive and cumulative with all rights and remedies of Sublessor under this Subleaseapplicable law and the Lease. Sublessor shall not be required to keep segregate such Security Deposit nor pay interest thereon, unless required by applicable law. If Sublessee shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of the Agreement, the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned (within fifteen (15) days) to Sublessee after the date fixed at the end of this Agreement of Sublease and after delivery of the entire possession of the Subleased Premises to Sublessor. Sublessee further covenants that it will not assign or encumber or attempt to assign or encumber the last assigneemonies deposited herein as security and that neither Sublessor nor Sublessor's legal representatives, if anysuccessors or assigns shall be bound by any such assignment, of Sublessee's interest hereunderencumbrance, attempted assignment or attempted encumbrance.

Appears in 1 contract

Samples: Agreement of Sublease (Optium Corp)

Security Deposit. Sublessee shall As security for Subtenant's performance of Subtenant's obligations under this Sublease, Subtenant shall, on the Execution Date, deposit with Sublessor upon execution of this Sublease the sum of Twenty Sublandlord a cash deposit in an amount equal to Five Hundred Twenty-Five Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40525,000.00) (such amount being sometimes hereinafter referred to as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Collateral Amount" and such deposit being the "Security Deposit"). If Sublessee fails to pay rent or other charges when due under this SubleaseDuring the Sublease Term, or fails to perform any Sublandlord shall retain the Security Deposit as security for Subtenant's performance of its other Subtenant's obligations hereunder, Sublessor may use or apply all or any portion . Interest shall accrue on the then current amount of the Security Deposit for from the payment fifth (5th) business day after the date on which Sublandlord actually receives the Security Deposit through the fifth (5th) business day before the date on which the Security Deposit is actually returned to Subtenant (and/or applied by Sublandlord in accordance herewith) at the same rate Sublandlord is paying to Sublandlord's customers holding "passbook" savings accounts with Sublandlord (such interest on the Security Deposit being the "Interest"). The Security Deposit shall be returned to Subtenant, together with the Interest, within forty-five (45) days after the expiration of any rent or other amount then due hereunder the Sublease Term, if and unpaid, for to the payment of any other sum for which Sublessor may become obligated extent Sublandlord has not applied the Security Deposit (and/or the Interest) by reason of Sublesseea breach by Subtenant of Subtenant's default or breachobligations hereunder as set forth in the following sentence. Sublandlord may, or for any loss or damage sustained by Sublessor as a result of Sublesseefrom time to time, in Sublandlord's default or breach. If Sublessor so uses any portion of the Security Depositsole discretion, Sublessee shall, within ten (10) days after written demand by Sublessor, restore apply the Security Deposit to cure and/or compensate for any breach of any provisions of this Sublease by Subtenant. Notwithstanding the full amount originally depositedforegoing, and Sublessee's failure to do so shall constitute a but only provided that Subtenant is not in default under this Sublease. Sublessor Sublease (beyond any applicable notice and cure periods), the Collateral Amount shall not be required reduced to keep the Security Deposit separate from its general accounts, Two Hundred Fifty Thousand Dollars ($250,000.00) (and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much any excess of the Security Deposit as is over the then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, current Collateral Amount shall be promptly returned to Sublessee or to Subtenant, together with any unapplied portion of the last assignee, if any, of Sublessee's interest hereunderInterest previously accruing on such excess amount) on the date upon which Subtenant has occupied for six (6) consecutive months (and has paid all Rent for six (6) consecutive months payable for) both the First Space and the Second Space.

Appears in 1 contract

Samples: Sublease Agreement (Iconixx Corp)

Security Deposit. Sublessee shall Tenant will deposit with Sublessor upon execution of Landlord or Agent, simultaneously with this Sublease Lease, the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) Security Deposit indicated in Section 1, as security for Sublessee's faithful the full performance by Tenant of Sublessee's all of its obligations hereunder ("under this Lease. The Security Deposit")Deposit shall be held by Landlord or Agent in escrow. Any interest accruing to the Security Deposit shall accrue to Tenant. If Sublessee Tenant fails to pay any items of rent or other charges sum when due under this Subleasedue, or fails if Landlord elects to perform any obligation of Tenant, or if Tenant otherwise defaults, Landlord shall have the right, at its sole option and without prejudice to any other obligations hereunderremedy of Landlord, Sublessor may use or to apply all or any portion such part of the Security Deposit as may be necessary to either pay such amount due, compensate Landlord for the payment its performance of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of SublesseeTenant's default or breachobligation, or reimburse Landlord for any loss loss, damage, or damage expense Landlord may have sustained by Sublessor as a result of SublesseeTenant's default or breachdefault. If Sublessor Landlord so uses any portion applies all or part of the Security Deposit, Sublessee shall, within ten (10) days after written Tenant shall immediately upon demand by Sublessor, restore the Security Deposit to its original amount. The Security Deposit and accrued interest thereon shall be returned to Tenant in accordance with the following schedule: Twenty percent (20%) after twenty-four months, provided that Tenant maintains an uninterrupted record of full amount originally deposited, and Sublessee's failure to do so shall constitute a timely Minimum Rent payments and has not been in default under this Sublease. Sublessor Lease or delinquent in any payment of Rents, Additional Rents or other sum of money due; an additional twenty percent (20%) after 36 months, provided that Tenant is not then, and has not previously been, delinquent in any payment of Rents Additional Rents or other sum of money due; an additional twenty percent (20%) after 48 months, provided that Tenant is not then, and has not previously been, delinquent in any payment of Rents Additional Rents or other sum of money due; an additional twenty percent (20%) after 60 months, provided that Tenant is not then, and has not previously been, delinquent in any payment of Rents Additional Rents or other sum of money due, and within sixty (60) days after the expiration or termination of the Term, including any extensions and or renewals, and upon the surrender of the Leased Premises in good and clean condition and accordance with the provisions of this Lease, Landlord shall not be required to keep return the balance of the Security Deposit separate to Tenant or to the then holder of Tenant's interest under this Lease, less an amount, if any, estimated by Landlord as necessary to satisfy any unpaid or unperformed obligations of Tenant. Delivery of such balance shall discharge Landlord and Agent from its general accounts, and shall have no obligation or any liability for payment of interest on with respect to the Security Deposit. In Landlord or Agent shall further have the event Sublessor assigns its right to deliver the Security Deposit to any transferee of Landlord's interest in this SubleaseLease, Sublessor at which time Landlord and Agent shall be discharged from any further liability with respect to the Security Deposit. Landlord or Agent shall further have the right to deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expiredto any transferee of Landlord's interest in this Lease, or Sublessee has vacated the Premises, or at which time Landlord and Agent shall be discharged from any final adjustment pursuant further liability with respect to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit. As required under Landlord's mortgage documents, Tenant hereby agrees not to look to Landlord's lender, as lender, lender in possession, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or successor in title to the last assigneeproperty, if anyfor accountability, for any security deposit required by the Landlord hereunder, unless said sums have actually been received by said lender as security for the Tenants performance of Sublessee's interest hereunderthis Lease.

Appears in 1 contract

Samples: Netcenter Full Service Office Lease (Portfolio Recovery Associates Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease hereof the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 6,873.55 as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee fails to pay rent Rent or other charges when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or and fails to perform any commence a cure of its other obligations hereundersuch default within the time provided therefor in this Sublease, Sublessor may use use, apply or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent Rent or other amount then due hereunder and unpaid, charge in default or for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breachdefault, or to compensate Sublessor for any loss or damage sustained by which Sublessor as a result of Sublessee's default or breachmay suffer thereby. If Sublessor so uses or applies all or any portion of the Security Depositsaid deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessortherefore, deposit cash with Sublessor in an amount sufficient to restore the Security Deposit said deposit to the full amount originally depositedherein above stated, and Sublessee's failure to do so shall constitute be a default under this Sublease, and Sublessor may at its option terminate this Sublease. Sublessor shall not be required to keep the Security Deposit said deposit separate from its general accounts, and shall have no obligation or liability for payment . If Sublessee performs all of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its Sublessee's obligations hereunder, the Security Depositsaid deposit, or so much thereof as had has not theretofore been applied by Sublessor, shall be returned without payment of interest for its use to Sublessee within ten (10) days after the expiration of the Term hereof, or to after Sublessee has vacated the last assigneeSubleased Premises, if any, of whichever is later. Sublessee's interest hereunderSecurity deposit shall not bear interest.

Appears in 1 contract

Samples: Sublease Agreement (Ramp Networks Inc)

Security Deposit. Sublessee Upon execution hereof, Sub-sublessee shall deposit ---------------- with Sublessor upon execution of this Sublease Sub-sublessor the sum of Twenty Thousand Two Hundred Fifty one hundred eighty-eight thousand four hundred forty-eight dollars and 40/100ths Dollars 00/100 ($20,250.40188,448.00) as security and for Sublesseea Security Deposit to secure Sub-sublessee's faithful full and timely performance of Sublessee's all of its obligations hereunder ("Security Deposit")hereunder. If Sublessee Sub-sublessee fails to pay rent Rent or any other charges sums as and when due under this Subleasehereunder, or fails otherwise defaults with respect to perform any provision of its other obligations hereunderthis Sub- sublease, Sublessor Sub-sublessor may use (but shall not be obligated to) use, apply, or apply retain all or any portion of the Security Deposit said deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become Sub- sublessee is obligated by reason of Sublessee's default or breach, or which will compensate Sub-sublessor for any loss or damage sustained which Sub-sublessor may suffer thereby. Any such use, application, or retention shall not constitute a waiver by Sublessor as a result Sub-sublessor of Sublessee's default its right to enforce its other remedies hereunder, at law, or breachin equity. If Sublessor so uses any portion of the Security Depositsaid deposit is so used, Sublessee applied, or retained, Sub-sublessee shall, within ten (10) 10 days after delivery of written demand by Sublessorfrom Sub-sublessor, restore the Security Deposit said deposit to the full amount originally deposited, and Sublesseeits original amount. Sub-sublessee's failure to do so shall constitute a default under material breach of this SubleaseSub-sublease, and in such event Sub-sublessor may elect, among or in addition to other remedies, to terminate this Sub-sublease. Sublessor Sub-sublessor shall not be a trustee of such deposit, and shall not be required to keep the Security Deposit this deposit separate from its general accounts, . Sub-sublessor alone shall be entitled to any interest or earnings thereon and Sub-sublessor shall have no obligation or liability for payment the free use of interest on the Security Depositsame. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, If Sub-sublessee fully and provided Sublessee is not then in default of any faithfully performs all of its obligations hereunder, the Security Deposit, or then so much thereof of the deposit as had not theretofore been applied by Sublessor, remains shall be returned to Sublessee Sub-sublessee (without payment of interest or earnings thereon) within 30 days after the later of (i) expiration or sooner termination of the term hereof, or (ii) Sub-sublessee's surrender of possession of the Sub-subleased Premises to the last assignee, if any, of Sublessee's interest hereunderSub-sublessor.

Appears in 1 contract

Samples: Sub Sublease Agreement (Align Technology Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 56,250.00 as security Security for Sublessee's the faithful performance and observance by Sublessee of the terms, provisions and conditions of this Sublease. It is agreed that in the event Sublessee defaults in respect of any of the terms, provisions and conditions of this Sublease, including, but not limited to, the payment of rent and additional rent, Sublessor 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 and additional rent or any other sum as to which Sublessee is in default or for any sum which Sublessor may expend or may be required to expend by reason of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under default in respect of any of the terms, covenants and conditions of this Sublease, including, but not limited to, any damages or fails deficiency in the re-letting of the Subleased Premises, whether such damages or deficiency accrued before or after legal proceedings or other re-entry by Sublessor. In the event that Sublessee shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of this Sublease, the Security shall be returned to perform Sublessee after the date fixed as the end of the Sublease and after delivery of entire possession of the Subleased Premises to Sublessor. Sublessee further covenants that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as Security and that neither Sublessor nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. In lieu of a cash security deposit as contemplated by this Article, Sublessee may deposit with Sublessor a transferable, irrevocable standby letter of credit (said letter of credit and any replacement thereof, the "Letter of Credit") in the amount of FIFTY-SIX THOUSAND TWO HUNDRED FIFTY and NO/100 DOLLARS ($56,250.00). The Letter of Credit and each replacement Letter of Credit (a "Replacement Letter of Credit") shall (a) be a transferable, irrevocable standby letter of credit, issued by a bank acceptable to Sublessor, (b) be transferable any number of times without charge to transferor or transferee, (c) expire not sooner than the expiration date of the Sublease, or one year after its other obligations issuance if for a shorter period, (d) provide that if the expiry date is sooner than the Sublease expiration date, its expiry date shall automatically be extended for an additional year after its expiry date and each extended expiry date unless, at least sixty (60) days prior to any expiry date, the issuer notifies Sublessor and others entitled to notice hereunder by certified mail at their current addresses for notices hereunder, that the expiry date shall not be extended, and (e) provide that drawings may be made by presentation of a sight draft without any additional documents or requirements. Sublessor may use or apply shall have the right, without notice, to, draw all or any portion of the Security Deposit for Letter of Credit if (i) in the payment event that the expiry date is anytime prior to the Sublease expiration date, a notice is received that the expiry date of the Letter of Credit will not be extended and a Replacement Letter of Credit is not received by Sublessor at least thirty (30) days before the expiry date of the Letter of Credit, (ii) Sublessor reasonably believes that the Letter of Credit may not be honored upon a drawing and a Replacement Letter of Credit is not received by Sublessor within fifteen (15) days of notice thereof, (iii) Sublessor would be permitted pursuant to this Article to apply or retain any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breachsecurity if same had been a cash security deposit thereunder, or (iv) for any loss or damage sustained reason the Letter of Credit is to expire within thirty (30) days and a Replacement Letter of Credit has not been received by Sublessor. Any funds received by Sublessor upon any drawing upon a Letter of Credit shall be "security" and shall be held, applied and retained, as a result of Sublessee's provided in this Article. Provided Sublessee is not in default or breach. If hereunder, if Sublessor so uses shall hold any portion of the Security Depositcash security deposit pursuant to this Article, Sublessee shallmay deliver to Sublessor a Replacement Letter of Credit in the amount required hereby and Sublessor, promptly after receipt thereof, shall remit to Sublessee said cash security deposit then held by Sublessor. In addition, Sublessee may replace the Letter of Credit or a Replacement Letter of Credit with a cash security deposit at any time. Sublessee agrees not to seek to enjoin any drawing upon the Letter of Credit and agrees, within ten (10) days after written demand of demand, to deposit with Sublessor as security as provided in this Article any sums applied or retained by SublessorSublessor pursuant to this Article, restore the Security Deposit but any such additional deposit shall not be deemed to the full amount originally deposited, and Sublessee's failure to do so shall constitute be a cure or waiver or any default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease (First Marblehead Corp)

Security Deposit. Sublessee shall deposit with Sublessor upon Within ten (10) business days after the execution of this Sublease Sublease, Sublessee shall pay to Sublessor the first month's rent due and provide Sublessor with security in the sum of Twenty Nine Thousand Two Four Hundred Fifty Seven and 40/100ths 14/100 Dollars ($20,250.409,407.14) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). The Security Deposit may, at Sublessee's option, either be in the form of a Letter of Credit or cash held in an escrow account. The Letter of Credit shall be issued by a financial institution selected by Sublessee doing business in the state of Washington, and shall allow Sublessor to draw up to the amount of the Security Deposit upon submitting to the financial institution a written notice copied to Sublessee stating that Sublessee is in default and stating the amount to be disbursed to cure the default. Sublessee may likewise select the escrow agent, and the terms of the escrow shall allow Sublessor to receive a disbursement from the escrow agent up to the amount of the Security Deposit upon submitting to the escrow agent a written notice copied to Sublessee stating that Sublessee is in default and stating the amount necessary to cure the default. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which the Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally depositeddeposited less any amounts applied to the first months' rent, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event If Sublessor assigns its interest in this Sublease, Sublessor shall deliver assign to its assignee so much Sublessor's interest in the Letter of Credit or escrow account, as the Security Deposit as is then held by Sublessorcase may be. Within ten thirty (1030) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore therefore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderinterest.

Appears in 1 contract

Samples: Document Sublease Agreement (Sunhawk Com Corp)

Security Deposit. Sublessee shall deposit with Sublessor upon execution a letter of this Sublease credit issued by a banking institution of sufficient financial standing (as Sublessor shall reasonably determine) having an office in Newton or Boston, Massachusetts, xx Xxnsas City, Missouri, against which such letter of credit may be drawn in the sum amount of Twenty Thousand Two Hundred Fifty and 40/100ths Forty Thousand Dollars ($20,250.40240,000.00) (such amount, as the same may be reduced in accordance with the provisions hereof, the "SECURITY DEPOSIT"). The letter of credit shall be unconditional, irrevocable and in favor of Sublessor, its successors or assigns, and shall provide that it may be drawn upon "at sight" upon presentation by Sublessor to the issuer of only a statement certified by Sublessor to the effect that a default by Sublessee has occurred under its Sublease with Sublessor and that Sublessee has failed to cure such default within the applicable period, if any, of notice and grace, or that Sublessor is otherwise entitled to draw thereunder pursuant to the terms and conditions of this Sublease. The letter of credit shall provide that it shall remain in force for a period beginning on the Commencement Date and ending January 31, 2011, or for a lesser period provided any letter of credit expiring prior to January 31, 2011 shall be replaced not later than sixty (60) days prior to its expiration by a letter of credit on all of the terms otherwise required hereunder and the failure to timely replace such letter of credit shall be a default with respect to which Sublessor shall have the right to draw the full amount of the letter of credit and retain the same as a cash security deposit. Provided that Sublessee is not in default hereunder beyond applicable notice and cure periods, and provided that Sublessee has provided Sublessor with audited financial statements prepared in accordance with accounting principals generally accepted in the United States of America which provide evidence that the Sublessee has positive net income for the most recent fiscal year, then during each 12 month period in the Term and within thirty (30) days of providing such audited financial statements, the amount of the letter of credit shall reduce by twenty percent (20%) from the preceding year. The Security Deposit shall serve as security for Sublessee's the prompt, full and faithful performance by Sublessee of Sublessee's obligations the terms and provisions of this Sublease. In the event that Sublessee is in default hereunder ("Security Deposit"). If Sublessee and fails to pay rent or other charges when due cure within any applicable time period under this Sublease, or fails in the event that Sublessee owes any amounts to perform any Sublessor upon the expiration of its other obligations hereunderthis Sublease, Sublessor may use or apply all the whole or any portion part of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default obligations hereunder. The use or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion application of the Security DepositDeposit or any portion thereof shall not prevent Sublessor from exercising any other right or remedy provided hereunder or under any law and shall not be construed as liquidated damages. In the event the Security Deposit is reduced by such use or application, Sublessee shall, shall deposit with Sublessor within ten (10) days after written demand by Sublessor, restore notice a new letter of credit (supplementing the Security Deposit to existing partially drawn letter of credit which Sublessor shall retain if Sublessor drew less than the full amount originally deposited, drawable thereunder) in the amount drawn by Sublessor under the existing letter of credit and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, otherwise complying with all terms and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much conditions of the Security Deposit letter of credit hereunder. Any remaining portion of the letter of credit (as is then held reduced by Sublessor. Within ten (10any amount drawn thereon pursuant hereto) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to within thirty (30) days after Sublessee has vacated the last assignee, if any, Premises and complied with all the terms of Sublessee's interest hereunderthis Sublease.

Appears in 1 contract

Samples: Management Network Group Inc

Security Deposit. Concurrent with Sublessee's execution of this Sublease, Sublessee shall deposit with Sublessor upon execution of this Sublease a security deposit (the sum "Security Deposit") in the amount of Twenty One Thousand Two Three Hundred Fifty and 40/100ths Eighty-One Dollars ($20,250.4021,381.00) as security for Sublessee's the faithful performance by Sublessee of Sublessee's all of its obligations hereunder ("Security Deposit")under this Sublease. If Sublessee fails to pay rent or other charges when due under hereunder, or otherwise defaults with respect to any provisions of this Sublease, or fails to perform any of its other obligations hereunderSublessor may, Sublessor may use or but shall not be required to, apply all or any portion part of the Security Deposit for the payment of any rent or any other amount then due hereunder and unpaidsum in default, or for the payment of any other sum for which amount that Sublessor may spend or become obligated to spend by reason of Sublessee's default or breach(including without limitation any amounts payable to Master Lessor under the Master Lease), or to compensate Sublessor for any other loss or damage sustained that Sublessor may suffer by Sublessor as a result reason of Sublessee's default or breachdefault. If Sublessor so uses any portion of the Security DepositDeposit is so used or applied, Sublessee shall, within ten five (105) days after written demand by Sublessor, therefor restore the Security Deposit to its original amount. If Sublessee is not in default upon termination of this Sublease, said deposit, or so much thereof as has not theretofore been applied by Sublessor, shall be returned, without payment of interest or other increment for its use, to Sublessee at the full amount originally depositedexpiration of the Term, and Sublessee's failure after Sublessee has vacated the Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to do so shall constitute a default under this Subleasethe Security Deposit. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and . Sublessee shall have no obligation or liability for payment of not be entitled to any interest on the Security Deposit. In Sublessee hereby waives the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much provisions of Section 1950.7 of the California Civil Code, and all other provisions of law, now or hereafter enforced, which provide that Sublessor may claim from a Security Deposit as is then held only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Sublessor. Within ten (10) days after the Term has expired, Sublessee or Sublessee has vacated to clean the Premises, it being agreed that Sublessor may, in addition, claim those sums reasonably necessary to compensate Sublessor from any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Sublessee or any final adjustment pursuant to Subsection 6.2 hereof has been madeofficer, whichever shall last occuremployee, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, agent or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, invitee of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Industrial Lease (Burke Industries Inc /Ca/)

Security Deposit. Upon execution of this Sublease, Sublessee shall deposit with Sublessor a security deposit in the amount of Two Million Dollars ($2,000,000.00). Sublessor shall hold such sum in federally insured interest bearing account(s) with interest accruing thereon being paid by Sublessor to Sublessee annually. In no event shall Sublessor be responsible for the amount of interest earned upon the security deposit. In addition, Sublessee shall provide to Sublessor a clean, irrevocable and unconditional letter of credit in the amount of One Million Dollars ($1,000,000.00) issued for the benefit of Sublessor by a federally insured banking institution on a date no later than thirty (30) days subsequent to the execution of this Sublease Sublease. Such letter of credit shall be maintained by Sublessee, and renewed no later than thirty (30) days prior to any applicable date of expiration, through and until December 31, 2001. On December 31, 2001, Sublessee shall deposit with Sublessor the sum of Twenty Five Hundred Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40500,000.00) as an additional security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit")deposit. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or In the event that any portion of the Security Deposit for the payment of any rent security deposit is used, applied or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor retained as a result of an uncured default by Sublessee's , Sublessee shall replenish any and all amounts used or applied. On December 31, 2003, and on each successive December 31st thereafter, Sublessor shall, provided Sublessee is not at any applicable time in default or breach. If Sublessor so uses under any portion obligation under this Sublease beyond any applicable cure period, pay to Sublessee twenty-five percent (25%) of the Security Depositbalance existing as a security deposit under this Sublease as of December 31, 2003. In no event however, shall the total security deposit decline to an amount less than Five Hundred Thousand Dollars ($500,000.00). Provided Sublessee shallis not in default under this Sublease beyond the expiration of the applicable notice and cure period, within ten thirty (1030) days after written demand by Sublessor, restore the Security Deposit to expiration or earlier termination of the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment Term of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the return such Security Deposit to Sublessee, less such portion thereof as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the PremisesSublessor shall have appropriated to satisfy any of Tenant's obligations, or any final adjustment pursuant to Subsection 6.2 hereof has been madeuncured default by Sublessee, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, under the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderSublease.

Appears in 1 contract

Samples: Sublease (Rhythms Net Connections Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Seven Thousand Five Hundred Fifty-Two Hundred Fifty and 40/100ths 50/100 Dollars ($20,250.407,552.50) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). The amount of the Security Deposit shall be increased to Nine Thousand Two Hundred Eighty and 50/100 Dollars ($9,280.50) on or before March 1, 1997 and shall be further increased to Thirteen Thousand Nine Hundred Eighty Six and 00/100 Dollars ($13,986.00) on or before July 1, 1997. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within with ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 3(b) hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Neomedia Technologies Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon On the date of execution of this Sublease by Sublessee, Sublessee will pay to Sublessor a security deposit in the sum amount of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security N/A for Sublessee's faithful performance of Sublessee's obligations hereunder (hereinafter "Security Deposit"). If Sublessee fails to pay rent or other charges charges. when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount amounts then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any ATLANTA COMMERCIAL BOARD OF REALTORS(R), INC. STANDARD SUBLEASE AGREEMENT COPYRIGHT(C) NOVEMBER 1999 XXXX XXXM #006 3 final adjustment pursuant to Subsection 6.2 Paragraph 5(b) hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, Deposit or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Manhattan Associates Inc)

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