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 Lessee has deposited with Sublessor upon execution of this Sublease the sum of Lessor, and Lessor hereby acknowledges receipt of, Twenty One Thousand Two Hundred Fifty Seventv-Two and 40/100ths 76/100 Dollars ($20,250.4021,272.76) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit")) which shall be held by Lessor, without accrual of interest, as security for the faithful performance by Lxxxxx of all of the terms of this Lease and not as an advance rent deposit or a measure of Lessor’s damages in the case of Lxxxxx’s default. Such Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Lxxxxx without the express prior written consent of Lessor. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails Lessee shall fail to perform any of the terms of this Lease, then Lessor, at its option and without prejudice to any other obligations hereunderremedy which Lessor may have on account thereof, Sublessor may use or appropriate and apply all or any portion part of the Security Deposit for toward the payment of any rent Rent or other amount then additional sum 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 to any loss or damage sustained by Sublessor as a result Lessor due to such breach on the part of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written Lessee; and Lessee shall forthwith upon demand by Sublessor, restore the Security Deposit to the full amount originally original sum deposited, and Sublessee's failure . Any funds paid by Lessee to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep Lessor as part of the Security Deposit separate from its general accountsor as a deposit or advance pursuant to the terms of this Lease, or any exhibit, addendum or modification hereto, may be commingled with other funds of Lessor and shall have no obligation need not be placed in trust, deposited in escrow or liability for payment otherwise held in a segregated account. Should Lessee comply with all of interest on the terms hereof and promptly pay all of the rentals and all other sums payable by Lessee to Lessor as they become due, the Security DepositDeposit shall be returned in full to Lessee within 30 days after the end of the Term. In the event Sublessor assigns its interest in this Subleaseof a bankruptcy or other creditor/debtor proceeding against Lxxxxx, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held shall be deemed to be first applied to the payment of Rent and other charges due Lessor for all periods prior to the filing of such proceedings. Lessor may deliver the Security Deposit and any other deposit made hereunder by Sublessor. Within ten (10) days after Lxxxxx to the Term has expired, or Sublessee has vacated the Premises, purchaser of Lessor’s interest in all or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, part of the Project 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, thereupon Lessor shall be returned discharged from any further liability with respect to Sublessee or such deposit; provided that such successor has assumed all of Lessor’s responsibilities and duties hereunder in writing; and this provision shall also apply to the last assignee, if any, any subsequent transferee of Sublessee's interest hereunder.Lessor

Appears in 3 contracts

Samples: Commercial Lease (Vocodia Holdings Corp), Commercial Lease (Vocodia Holdings Corp), Commercial Lease (Vocodia Holdings Corp)

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 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 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 LESSEE shall pay to LESSOR a security deposit with Sublessor in the amount of $92,539.50 upon the execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) Lease, which amount shall be held as security by XXXXXX (and may be commingled with other fund of LESSOR) for SublesseeXXXXXX's faithful performance as herein provided and refunded to LESSEE with interest at the prevailing money market rate at the end of Sublesseethis Lease subject to LESSEE'S satisfactory compliance with the conditions hereof. The security deposit shall not be mortgaged, assigned, transferred or encumbered by XXXXXX without the written consent of LESSOR. In the event of any default or breach of this Lease by XXXXXX, LESSOR shall immediately apply the security deposit first to any unamortized improvements completed for LESSEE's obligations hereunder ("Security Deposit"). If Sublessee fails occupancy, then to pay rent offset any outstanding invoice or other charges when payment due under this Subleaseto LESSOR, or fails with the balance applied to perform any of its other obligations hereunderoutstanding rent, 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 LESSEE shall forthwith upon demand by Sublessor, restore the Security Deposit said security to the full amount originally original sum deposited, and Sublessee. XXXXXX's failure to do so remit the full security deposit when due shall constitute a default under of this SubleaseLease. Sublessor Notwithstanding the foregoing, XXXXXX may request that LESSOR reimburse to LESSEE $46,269.75 of the security deposit if and when XXXXXX's net worth, calculated in accordance with generally accepted accounting principles, equals or exceeds $5,500,000. Any such request shall not be required accompanied by appropriate financial statements and a certificate of XXXXXX's chief financial officer to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Depositeffect that XXXXXX's net worth has increased as aforesaid. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much at the time 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 such request LESSEE is not then in default under this Lease, LESSOR shall release to LESSEE $46,269.75. Following any release of monies as aforesaid, LESSEE shall submit to LESSOR quarterly financial statements on a continuing basis certified by XXXXXX's chief financial officer showing XXXXXX's net worth. In the event LESSEE'S net worth at any of its obligations hereundertime falls below $5,500,000, LESSEE shall thereupon become obligated, without notice from LESSOR, to forthwith increase the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned security deposit to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder$92,539.50.

Appears in 2 contracts

Samples: Maker Communications Inc, Maker Communications 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 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 Upon execution of this Sublease, Subtenant shall deposit with Sublessor upon execution Sublandlord $[…***…] in cash and a letter of this Sublease credit from Silicon Valley Bank in the sum amount of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $[…***…] ($20,250.40the “Letter of Credit”) as security for Sublessee's the full and faithful performance of Sublessee's obligations hereunder ("Security Deposit")every provision of this Sublease to be performed by Subtenant. The Letter of Credit shall be reduced annually throughout the Term according to the following schedule: * Confidential Treatment Requested 12 Date Reduction Remaining Amount Following Reduction […***…] July 31, 2009 $39,681.50 $158,726.00 July 31, 2010 $39,681.50 $119,044.50 July 31, 2011 $39,681.50 $79,363.00 July 31, 2012 $39,681.50 $39,681.50 July 31, 2013 $39,681.50 -0- If Sublessee fails Subtenant defaults with respect to pay rent any provision of this Sublease and such default continues beyond any applicable grace or other charges when due under this Subleasecure period, including but not limited to the provisions relating to the payment of rent, 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 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 out-of-pocket sum for which Sublessor Subland lord may spend or become obligated to spend by reason of Sublessee's Subtenant’s default or breach, or to compensate Sublandlord for any other actual loss or direct damage sustained which Sublandlord may suffer by Sublessor as a result reason of Sublessee's default or breachSubtenant’s default. If Sublessor so uses any portion of said security deposit is so used or applied during the Security DepositTerm, Sublessee Subtenant shall, within ten (10) 5 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 Prime amount originally deposited, and Sublessee's Subtenant’s failure to do so shall constitute be a default under material breach of this Sublease. Sublessor Except to the extent required by law, Sublandlord shall not be required to keep the Security Deposit said security deposit separate from its general accounts, funds and Subtenant shall have no obligation or liability for payment of not be entitled to interest on the Security Depositany security deposit. In the event Sublessor assigns its interest in If Subtenant shall fully and faithfully perform every provision of 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, said security deposit 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, shall be returned to Sublessee Subtenant within 30 days after the expiration of the Term and Subtenant’s vacation of the Premises. Nothing herein shall be construed to limit the amount of damages recoverable by Sublandlord or any other remedy to the last assignee, if any, of Sublessee's interest hereundersecurity deposit.

Appears in 2 contracts

Samples: Lease Agreement (Gevo, Inc.), Lease Agreement (Gevo, 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. 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 2 contracts

Samples: Lease Agreement, Lease Agreement (Verrica Pharmaceuticals 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 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. Upon execution hereof, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Three Thousand Two Eight Hundred Fifty Twenty Seven and 40/100ths 96/100 Dollars ($20,250.4023,827.96) as security and for a Security Deposit to secure Sublessee's faithful ’s 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 and/or fails to perform 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 for any loss or damage which Sublessor may become obligated suffer thereby and to which Sublessor may be entitled by reason law, 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, independent 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 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 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 Depositsaid deposit is so used, applied, or retained, Sublessee shall, within ten (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 ’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, then the Security Depositdeposit, or so much thereof less any amounts used by Sublessor as had permitted by this section and not theretofore been applied reimbursed by SublessorSublessee, 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, or (ii) Sublessee’s surrender of possession of the Subleased Premises to the last assignee, if any, of Sublessee's interest hereunderSublessor.

Appears in 2 contracts

Samples: Sublease Agreement, Sublease Agreement (Blue Coat Systems 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 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. 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. 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 Upon execution of this Sublease, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord the sum of Twenty Eighteen Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.4018,000) as a security for Sublessee's faithful performance of Sublessee's obligations hereunder deposit ("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 portion of the Security Deposit 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 days after Sublandlord's failure to do so shall constitute a default under this Subleasewritten demand. 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 ten days of the expiration or to earlier termination of this Sublease, provided Subtenant has surrendered possession of the last assignee, if any, Subleased Premises in accordance with the terms of Sublessee's interest hereunderthis Sublease.

Appears in 2 contracts

Samples: Change of Control Agreement, Vivus 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 with Sublessor upon execution and delivery of this Sublease by Sublessor the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 61,820.39 as security for Sublessee's ’s full and faithful performance and observance of the terms, covenants and conditions of this Sublease as herein provided, including without limitation Sublessee's obligations hereunder ("Security Deposit")’s obligation to restore the Sublet Premises to its condition prior to any alteration by Sublessee. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform defaults in the full and faithful performance and observance of any of its other obligations hereunderthe terms covenants and conditions of this Sublease beyond any applicable notice and cure period, Sublessor may 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 rent or other amount then due hereunder additional rent to which Sublessee is in default beyond any applicable notice and unpaid, cure period or for the payment of any other sum for which Sublessor may become obligated expend by reason of Sublessee's ’s default or breach, or for beyond any loss or damage sustained by Sublessor as a result of Sublessee's default or breachapplicable notice and cure period. If Sublessor so uses applies the whole or any portion part of the Security Depositsecurity as aforesaid, Sublessee shall, shall within ten (10) days after written demand by Sublessor, notice from Sublessor deposit with Sublessor an amount sufficient to restore the Security Deposit said deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Subleaseset forth herein. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation to hold the security deposit in an interest-bearing account, provided that if Sublessor is required by law to do so or liability for payment of if Sublessor elects to hold such security deposit in an interest-bearing account, Sublessee shall be entitled to interest earned on the Security Depositsecurity deposit in proportion to the amount of the security deposit not applied or retained by Sublessor pursuant to the terms hereof. In Within thirty (30) days after the event Sublessor assigns its interest in later of (i) Sublessee’s surrendering the Sublet Premises or (ii) the expiration or sooner termination of this Sublease, Sublessor shall deliver return to its assignee so much Sublessee the whole or part of the Security Deposit as is then held security deposit (and interest, if applicable) not applied or retained by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment Sublessor 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 hereunderterms hereof.

Appears in 2 contracts

Samples: Sublease Agreement, Sublease (Iomega Corp)

Security Deposit. Sublessee The parties herein acknowledge that Lessee was the tenant of the Premises pursuant to a Standard Industrial Lease-Net dated January 6, 1995 (the "Former Lease") between Lessee and the Xxx X. Xxxxxx] 1989 Trust (the "Prior Landlord") dated February 8, 1989 which has been terminated and superseded by this Lease. Pursuant to the terms of the Former Lease, Lessee deposited with the Prior Landlord a security deposit, for which Lessee has received a cash payment in full satisfaction of the Prior Landlord's obligation with respect thereto. Prior Landlord has delivered to Lessor funds in the amount of $45,234 (the "Security Deposit") for the account and benefit of Lessee, which Lessor shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) hold as security for SublesseeLessee's faithful performance of SublesseeLessee's obligations hereunder ("Security Deposit")hereunder. 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 after the expiration of the applicable cure period provided in this Lease, Sublessor Lessor 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 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 breachwhich Lessor may suffer thereby. If Sublessor Lessor so uses or applies all or any portion of the Security Deposit, Sublessee shall, Lessee shall within ten (10) days after written demand by Sublessor, therefore and deposit cash with Lessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, hereinabove stated and SublesseeLessee's failure to do so shall constitute a default under be material breach of this SubleaseLease. Sublessor Lessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment . If Lessee 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 Lessee's obligations hereunder, the Security 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) at 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 the Security Deposit.

Appears in 2 contracts

Samples: Graphic Controls Corp, Graphic Controls Corp

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. 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 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 (Ase Test LTD), Sublease Agreement (Advanced Semiconductor Engineering 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 with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security Security Deposit set forth in Section 1.1 for Sublessee's the faithful performance and observance by Sublessee of Sublessee's obligations hereunder ("Security Deposit")the terms and provisions of this Sublease. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform defaults on any of its other obligations hereunderunder this Sublease beyond any applicable notice and cure periods, Sublessor may use or apply all or any portion of draw down on the Security Deposit to the extent required for the payment of any rent Rent, Additional Rent or other amount then due hereunder and unpaid, for the payment of any other sum for as to which Sublessee is in default, or any sum which Sublessor may become obligated expend or may be required to expend by reason of Sublessee's default or breach, or for any loss or damage sustained by ’s default. In the event that Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of does draw down on the Security Deposit, Sublessee shall, shall within ten (10) days after written demand by receiving notice from Sublessor, restore replenish the Security Deposit to by the full amount originally deposited, Sublessor withdrew therefrom and Sublessee's failure to do so within such ten (10) day period 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 return any unapplied portion of the Security Deposit as to Sublessee within thirty (30) days after the termination or earlier expiration of this Sublease. The Security Deposit shall be in the form of a clean, irrevocable, non-documentary and unconditional letter of credit in the amount of the Security Deposit (the “Letter of Credit”) issued by and drawable upon any commercial bank, trust company, national banking association or savings and loan association with offices for banking and drawing purposes in Boston, Massachusetts or other location provided such bank allows drawing by facsimile (the “Issuing Bank”), which has outstanding unsecured, uninsured and unguaranteed indebtedness, that is then held rated, without regard to qualification of such rating by symbols such as "+" or "-" or numerical notation, "Aa" or better by Xxxxx'x Investors Service and "AA" or better by Standard & Poor's Ratings Service (and is not on credit-watch with negative implications), and has combined capital, surplus and undivided profits of not less than $1,000,000,000. The Letter of Credit shall (i) name Sublessor as beneficiary, (ii) be in the amount of the Security Deposit, (iii) have a term of not less than one year, (iv) permit multiple drawings, (v) be fully transferable by Sublessor multiple times without the consent of Sublessee and without the payment of any fees or charges, (vi) be payable to Sublessor or an authorized representative of Sublessor upon presentation of only the Letter of Credit and a sight draft and a certification of Sublessor (acceptable to Sublessor in its sole discretion) as to the existence of an event of default of Sublessee, and (vii) otherwise be in form and content reasonably satisfactory to Sublessor. If upon any transfer of the Letter of Credit, any fees or charges shall be so imposed, then such fees or charges shall be payable solely by Sublessee and the Letter of Credit shall so specify. The Letter of Credit shall provide that it shall be deemed automatically renewed, without amendment, for consecutive periods of one year each thereafter during the Term through the date that is at least ninety (90) days after the last day of the Term of this Sublease, unless the Issuing Bank sends a notice (the “Non-Renewal Notice”) to Sublessor by certified mail, return receipt requested, not less than thirty (30) days prior to the then-current expiration date of the Letter of Credit, stating that the Issuing Bank has elected not to renew the Letter of Credit. Sublessor shall have the right, upon receipt of a Non-Renewal Notice, to draw the full amount of the Letter of Credit, by sight draft on the Issuing Bank, and shall thereafter hold or apply the cash proceeds of the Letter of Credit pursuant to the terms of this Section 12.11. The Letter of Credit shall state that drafts drawn under and in compliance with the terms of the Letter of Credit will be duly honored upon presentation to the Issuing Bank at an office location in Boston, Massachusetts or other location by facsimile. The Letter of Credit shall be subject in all respects to the International Standby Practices current as of the date of this Sublease, International Chamber of Commerce Publication No. 590. Provided that no default by Sublessee under this Sublease beyond any applicable notice or cure period occurs at any time prior to the second (2nd) anniversary of the Rent Commencement Date (the “SD Reduction Obligation”), then Sublessee, no later than forty-five (45) days after the second (2nd) anniversary of the Rent Commencement Date, may notify Sublessor in writing that it wishes to decrease the Security Deposit to $440,583.39 (the “Reduced Security Deposit”). Within ten (10) business days following Sublessor’s receipt of such notice, Sublessor shall (y) confirm in writing that the SD Reduction Obligation has been satisfied and that the Security Deposit shall be deemed to equal the Reduced Security Deposit or (z) notify Sublessee that the SD Reduction Obligation has not been satisfied. Upon Sublessor’s confirmation that the SD Reduction Obligation has been satisfied, Sublessee may provide to Sublessor, and Sublessor shall accept, a replacement letter of credit in the amount of the Reduced Security Deposit in the form required herein. Notwithstanding the foregoing, from the date of execution of this Sublease until the date that is sixty (60) 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 hereundersuch execution date, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, Deposit shall be returned to Sublessee or in the form of cash. Prior to the last assigneeexpiration of such sixty (60) day period, if anySublessee shall provide to Sublessor the Security Deposit in the form of the Letter of Credit described above. Promptly upon Sublessor’s receipt of the Letter of Credit, it will return any applied balance of the cash Security Deposit to Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease (Akebia Therapeutics, Inc.)

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 (a) Simultaneously with Sublessor upon the execution of this Sublease Sublease, Subtenant shall provide Sublandlord with a Security Deposit (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") in the amount of Six Thousand Five Hundred Eighty Three and 33/100 Dollars ($6,583.33). If Sublessee fails Said Security Deposit may be mingled with other funds of Sublandlord and no fiduciary relationship shall be created with respect to such deposit, nor shall Sublandlord be liable to pay rent or other charges when due Subtenant interest thereon. In the event that Subtenant is in default, beyond the expiration of any applicable grace periods, of its obligations under this Sublease, or fails then the Sublandlord shall have the right, but not the obligation, at any time after such event to perform any of its other obligations hereunder, Sublessor may use or (1) apply all or any portion of the from said Security Deposit for the payment amount necessary to cure such default and/or (2) to exercise all rights and remedies Sublandlord may have on account of any rent or other such default and to apply from said Security Deposit the amount then due hereunder and unpaidwhich, for in Sublandlord's reasonable opinion, is necessary to satisfy Subtenant's liability on account thereof. In the payment of any other sum for which Sublessor may become obligated event that Sublandlord elects to cure a default 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 applying any portion of the Security Deposit, Sublessee Subtenant shall, within ten (10) business days after of written demand by Sublessortherefor, restore replenish the Security Deposit to the full amount originally deposited, original amount. To the extent that Subtenant has faithfully performed all of its covenants and Sublessee's failure to do so shall constitute a obligations hereunder and is not otherwise in default of its obligations under this Sublease as of the expiration or earlier termination of this Sublease. Sublessor , Sublandlord shall not be required to keep return 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 Subtenant within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or Prime Landlord notified Sublandlord as to whether 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 damage exists with respect to the last assignee, if any, of Sublessee's interest hereunderDemised Premises.

Appears in 1 contract

Samples: Agreement of Sublease (Rsa Security Inc/De/)

Security Deposit. Upon the execution of this Sublease by Sublessee, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Seventy Eight Thousand Two Eight Hundred Fifty and 40/100ths Dollars Forty dollars ($20,250.4078,840.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"). The Security Deposit shall be held by Sublessor as security for the faithful performance by Sublessor of all of the terms, covenants and conditions of this Sublease to be performed by Sublessee during the Term. If Sublessee fails defaults with respect to pay rent or other charges when due under any provision of this Sublease, including the provisions relating to the payment of any Base Rent or fails to perform any of its other obligations hereunderOperating Costs, Sublessor may use (but shall not be required to) use, apply or apply retain all or any part of the Security Deposit to cure such default or to compensate Sublessor for any other loss or damage which Sublessor may suffer by reason of Sublessee's default. If any portion of the Security Deposit for the payment of any rent is so used 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 Depositapplied, Sublessee shall, within ten (10) days after written demand by for Sublessor, deposit with Sublessor an amount sufficient 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 Sublessee 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 Depositsuch 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 If Sublessee is in not then in default of any of its obligations hereunderthe provisions of this Sublease, Sublessor agrees to apply the sum of Twenty Six Thousand Two Hundred Eighty dollars ($26,280.00) against the Base Rent due for the month of January 2000 when it becomes due. If Sublessee shall fully and faithfully perform every position of this Sublease as required to be performed by it under the terms of this Sublease and the Master Lease, the Security Deposit, Deposit or so much any balance thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to no later than thirty (30) days after the last assignee, if any, expiration of the Term and Sublessee's interest hereundervacation of the premises.

Appears in 1 contract

Samples: Sublease Agreement (Ondisplay Inc)

Security Deposit. Sublessee Simultaneously with the execution of this Sub-Sublease, Sub-Subtenant shall deposit with the Sub-Sublessor upon execution a security deposit in the amount of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as 1,000.00. Such security deposit shall be security for Sublesseethe performance by Sub-Subtenant of all of Sub-Subtenant's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due obligations, covenants, conditions and agreements under this Sublease. Provided that Sub-Subtenant has not at any time been in default of any monetary obligations under this Sub-Sublease, within approximately thirty (30) days after the later of (a) the expiration or earlier termination of the Term of this Sub-Sublease, or fails (b) Sub-Subtenant's vacating the Sub-Subleased Premises, Sub-Sublessor shall return the security deposit to perform Sub-Subtenant, less such portion thereof as Sub-Sublessor shall have appropriated to satisfy any of its other obligations hereunderdefault under this Sub-Sublease by Sub-Subtenant. If there shall be any default under this Sub-Sublease by Sub-Subtenant, then Sub-Sublessor may use shall have the right, but shall not be obligated, to use, apply or apply retain all or any portion of the Security Deposit security deposit for the payment of any (a) Rent, additional rent or other amount then due hereunder and unpaid, for the payment of any other sum for as to which Sub-Subtenant is in default, or (b) amount Sub-Sublessor may spend or become obligated to spend, or for the compensation of Sub-Sublessor for any losses incurred, by reason of SublesseeSub-Subtenant's default default, including, but not limited to, any damage or breach, or for any loss or damage sustained by Sublessor as a result deficiency arising in connection with the reletting of Sublessee's default or breachthe Sub-Subleased Premises. If Sublessor so uses any portion of the Security Depositsecurity deposit is so used or applied, Sublessee shall, then within ten three (103) business days after receipt of written demand by Sublessornotice to Sub-Subtenant of such use or application, Sub-Subtenant shall deposit with Sub-Sublessor cash in an amount sufficient to restore the Security Deposit security deposit to the full amount originally depositedits original amount, and SublesseeSub-Subtenant's failure to do so shall constitute a default under this Sub-Sublease. Sub-Sublessor shall not be required to keep pay or forward to Sub-Subtenant any interest accrued with respect to the Security Deposit separate from its general accounts, security deposit and shall have no obligation or liability for payment of any 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, earned thereon shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderretained by Sub-Sublessor.

Appears in 1 contract

Samples: Sub Sublease (Ashton Technology Group Inc)

Security Deposit. Sublessee a) On or prior to the date that Sub-Subtenant is no longer controlled by or under common control with Sub-Sublandlord, Sub-Subtenant shall deposit with Sublessor upon execution of this Sublease Sub Sublandlord the sum of Twenty Thousand Two Hundred Fifty SIX HUNDRED SEVENTEEN THOUSAND NINE HUNDRED TWENTY-FIVE and 40/100ths Dollars 00/100 ($20,250.40617,925.00) Dollars as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("the “Security Deposit")”) for the performance and observance by Sub-Subtenant of the terms, covenants and conditions of this Sub-Sublease. Sub-Subtenant’s failure to timely deliver the Security Deposit shall be a material default under this Sub-Sublease. If Sublessee fails to pay rent Sub-Subtenant defaults in respect of any of the terms, covenants or other charges when due under conditions of this Sub-Sublease, including, but not limited to, the payment of Fixed Rent and Additional Rent, Sub-Sublandlord 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 so deposited to the extent required for the payment of any rent Fixed Rent and Additional Rent or other amount then due hereunder and unpaid, for the payment of any other sum as to which Sub-Subtenant is in default, or for which Sublessor reimbursement of any sum that Sub-Sublandlord may become obligated expend or may be required to expend by reason of Sublessee's Sub Subtenant’s default in respect of any of the terms, covenants and conditions of this Sub-Sublease, including, but not limited to, any damages or breachdeficiency in resubletting of the Sub-Subleased Premises, whether such damages or for any loss deficiency accrued before or damage sustained after summary proceedings or other re-entry by Sublessor as a result of Sublessee's default or breachSub-Sublandlord. If Sublessor so uses any portion Sub-Subtenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Sub-Sublease, the Security Deposit (without interest) shall be returned to Sub-Subtenant after both the date fixed as the end of this Sub-Sublease and delivery of possession of the entire Sub-Subleased Premises to Sub-Sublandlord in the condition required hereunder. Sub-Subtenant further covenants that it will not assign or encumber or attempt to assign or encumber the Security Deposit, Sublessee shalland that neither Sub-Sublandlord nor its successors or assigns shall be bound by any such assignment, within ten (10) days after written demand by Sublessorencumbrance, 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 attempted assignment or liability for payment of interest on the Security Depositattempted encumbrance. In the event Sublessor assigns its interest in this Subleaseof any use, Sublessor shall deliver to its assignee so much application or retention of the Security Deposit as is then held by Sublessor. Within ten Sub-Sublandlord, Sub-Subtenant shall, within five (105) days after of demand, pay to Sub-Sublandlord the Term has expiredsum so used, applied 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 hereunderretained.

Appears in 1 contract

Samples: Sub Sublease (Sema4 Holdings Corp.)

Security Deposit. Sublessee Lessee will deposit or cause to be deposited with Lessor or Lessor’s Mortgagee, as Lessor shall deposit with Sublessor upon execution of this Sublease designate, (a) on or before the sum of Twenty date hereof, Four Hundred Thirty Five Thousand Two Hundred Fifty Ninety and 40/100ths No/100 Dollars ($20,250.40435,290.00), and (b) on the first day of each month thereafter for twelve consecutive months, Eighteen Thousand One Hundred Thirty Seven and No/100 Dollars ($18,137.00), for a total of Six Hundred Fifty Two Thousand Nine Hundred Thirty Five and No/100 Dollars ($652,935.00) as security a “Security Deposit” for Sublessee's its full and faithful performance of Sublessee's obligations hereunder ("the terms of this Lease, it being expressly understood that such Security Deposit"). If Sublessee fails to pay Deposit shall not be considered an advance payment of any Basic Rent, additional rent or other charges when due sums payable under this SubleaseLease or a measure of Lessor’s damages in case of an Event of Default. Payment of said Security Deposit shall be satisfied by Lessee’s deposit of cash or a Letter of Credit in said amounts. Lessee shall have the right to freely substitute cash for a Letter of Credit or vice versa. If Lessor transfers its interest in the Premises during the Lease Term to a transferee who assumes Lessor’s obligations hereunder and to whom the Security Deposit is transferred, Lessor may assign the Security Deposit to the transferee and, thereafter, Lessor shall have no further liability for the return of such Security Deposit to Lessee. Upon expiration or earlier termination of this Lease (absent an Event of Default), Lessor shall return the Security Deposit (or any unused portion thereof) to Lessee within sixty (60) days along with an accounting for same. If any cash Security Deposit is kept in escrow with Lessor’s Mortgagee, Lessor will make a good faith effort with Lessor’s Mortgagee to have that escrow account be an interest-bearing account, which interest shall be part of the Security Deposit and payable to Lessee at termination, if not used by Lessor according to Lease. For the purposes herein, “Letter of Credit” shall mean an irrevocable standby letter of credit issued to Lessor by a financially sound national banking association or state chartered bank having assets in excess of $10,000,000,000 and otherwise reasonably acceptable to Lessor, the proceeds of which shall be available to Lessor without the need for Lessor to satisfy any requirements or conditions whatsoever other than delivery of (a) the original Letter of Credit along with Lessor’s sight draft to the issuing institution with reference to the appropriate letter of credit number for the Letter of Credit, as set forth therein and (b) (i) a certificate signed by Lessor certifying that an Event of Default has occurred and is continuing under the Lease, or fails (ii) a certificate signed by Lessor certifying that Lessee has failed to perform any renew the Letter of Credit at least thirty (30) days prior to its stated expiration date. The Letter of Credit shall be valid for an initial period of one (1) year from and after the date of its other obligations hereunderissuance and, Sublessor by its express terms, shall provide (i) that its term shall automatically be extended for successive one (1) year periods unless at least thirty (30) days prior to the expiration of the initial one year term or any one year extension (as applicable) the issuer provides Lessor with written notification that it will not be extended, and (ii) that Lessor may use assign (whether by way of outright or apply collateral assignment) all or any portion of its interest in the Security Deposit for the payment Letter of any rent Credit to Lessor’s Mortgagee 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 breachperson (including, or for without limitation, any loss or damage sustained by Sublessor as a result of Sublessee's default or breachthird party purchaser). If Sublessor so uses any portion of At Lessee’s request, if Lessor’s Mortgagee does not elect to hold the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Lessor will agree to hold any cash Security Deposit in a segregated account subject 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 hereunderreasonable escrow agreement.

Appears in 1 contract

Samples: Lease Agreement (Truck Hero, 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 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 As security for Sublessee's the faithful performance by ---------------- Sub-Subtenant of Sublessee's all of its 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 Sub-Sublease and for the payment of any rent damages to which Sub-Sublandlord may be entitled in the event of a default by Sub-Subtenant hereunder, Sub-Subtenant will deposit with Sub-Sublandlord the Security Deposit. The Security Deposit shall be returned to Sub-Subtenant by Sub-Sublandlord without interest, 30 days after the expiration of the Sub-Sublease Term, or renewal thereof, if applicable, provided that Sub-Subtenant has fully and faithfully carried out all of the terms, covenants and conditions under this Sub-Sublease, the Master Lease and the Sublease. If Sub-Subtenant defaults with respect to any provision of this Sub-Sublease, including, but not limited to, the provisions relating to the payment of the Rent, Sub-Sublandlord shall have the right, but shall not be required to, at any time during the Sub-Sublease Term to use, apply or retain all or any part of the Security Deposit: a) for the payment of any of the Rent or any other amount then due hereunder and unpaid, sum in default; and/or b) for the payment of any other sum for amount which Sublessor Sub-Sublandlord may spend or become obligated to spend by reason of SublesseeSub-Subtenant's default, and/or c) to cure any default or breachof Sub-Subtenant, 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 Depositand if Sub-Sublandlord does so, Sublessee Sub-Subtenant shall, within ten (10) days after written demand by Sublessorupon demand, restore immediately deposit with Sub-Sublandlord an additional sum to make the sum equal to the original Security Deposit to amount, so that Sub-Sublandlord shall have 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 available throughout 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 hereunderSub-Sublease Term.

Appears in 1 contract

Samples: Sub Sublease Agreement (Unigraphics Solutions Inc)

Security Deposit. Sublessee Lessee shall deposit with Sublessor Lessor, upon execution of this Sublease Lease, the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) Security Deposit set forth in the Basic Lease Provisions as security for SublesseeLessee's faithful performance of SublesseeLessee's obligations hereunder ("Security Deposit")hereunder. If Sublessee Lessee fails to timely pay rent or other charges when amounts due hereunder, or otherwise fails to timely observe or perform any provision of this Lease on Lessee's part to be observed or performed after any applicable cure period set forth in Section 14, below (or immediately if Lessor is legally prevented from giving a default notice by court order, including, without limitation, the automatic stay in a bankruptcy proceeding, without regard to any such notice or cure period), Lessor may, without waiving or releasing Lessee from any obligation under this SubleaseLease, and without waiving Lessor's right to treat such failure as a default hereof or any other right or remedy with respect thereto, use, apply, or fails to perform any of its other obligations hereunder, Sublessor may use or apply retain all or any portion of the said Security Deposit for the payment of any such rent or other amount then due hereunder and unpaid, or for the payment of any other sum for to which Sublessor Lessor may become obligated by reason of SublesseeLessee's default failure to timely observe or breachperform any such provision of this Lease, or to so compensate Lessor for any loss or damage sustained by Sublessor as a result which Lessor may suffer thereby, including, without limitation, damages described in California Civil Code Section 1951.2 and including any attorneys' fees Lessor incurs in connection with drawing on the letter of Sublessee's default or breachcredit. If Sublessor Lessor so uses or applies all or any portion of the said Security Deposit, Sublessee shall, Lessee shall within ten five (105) business days after written demand by Sublessor, therefor deposit cash with Lessor in an amount sufficient to restore the said Security Deposit to the full amount originally deposited, hereinabove stated and SublesseeLessee's failure to do so shall constitute be a default under material breach of this SubleaseLease. Sublessor shall not be required to keep the 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 Lessee (or, at Lessee's option, to the last assignee, if any, of SublesseeLessee's interest hereunder) at the expiration of the Lease Term, less any amount Lessor is allowed to retain pursuant to this Section 5.01.

Appears in 1 contract

Samples: And Attornment Agreement (General Magic Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Twelve Thousand Two Hundred Fifty Seventeen and 40/100ths 20/100 Dollars ($20,250.4012,217.20) 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 1 contract

Samples: NTN Communications 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 (see payment schedule in Item #6 above) the sum of Twenty Eight Thousand Two Eight Hundred Fifty and 40/100ths Forty Dollars ($20,250.4028,840.*) * (The initial security deposit of $20,000. was paid by American Appliance, Inc. to Xxxx X. and Xxxxxx X. Xxxx and has been credited to Turbodyne Technologies, Inc. by Xx Xxxxxx of American Appliance, Inc.) 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 thereunder 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 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 fourteen (1014) 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: Turbodyne Technologies Inc

Security Deposit. Sublessee Subtenant shall deposit with Sublessor Sublandlord upon execution of this Sublease the sum of Twenty Twenty-One Thousand Two Five Hundred Fifty Twenty-Eight and 40/100ths No/100 Dollars ($20,250.4021,528.00) (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 or other charges Rent 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 performance of all of Subtenant's obligations under this Sublease, including the payment of any rent or other amount then due hereunder unpaid Rent, and unpaid, for the payment of any other sum amount for which Sublessor Sublandlord may become obligated by reason of SublesseeSubtenant's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachbreach hereunder. 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, 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 the Sublease, Sublessor Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by SublessorSublandlord. Within ten thirty (1030) days after the Sublease Term has expired, or Sublessee Subtenant has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 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, or is to be applied to repair any damage to the Premises, shall be returned to Sublessee Subtenant or to the last assignee, if any, of SublesseeSubtenant's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Nexstar Pharmaceuticals Inc)

Security Deposit. Sublessee shall deposit Subtenant covenants to deliver to Sublandlord, within five (5) days of the filing of such reports with Sublessor upon execution any agency, full and complete copies of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Subtenant's quarterly financial statements (including, without limitation, any 10K and/or 10Q reports). If such reports are no longer filed for any reason, or if any such report does not clearly disclose that Subtenant's cash balance is equal to or greater than Ten Million Dollars ($20,250.4010,000,000), then Subtenant shall, concurrently with the delivery to Sublandlord of the applicable report (or within five (5) as days after the date such report would have otherwise been required to be filed if such report was still required to be filed), deposit with Sublandlord, by wire transfer of immediately available funds, a security for Sublessee's faithful performance deposit in the amount of Sublessee's obligations hereunder Five Hundred Thousand Dollars ($500,000) (the "Security Deposit"). The Security Deposit shall be held by Sublandlord as security for the faithful performance by Subtenant of all of the terms, covenants, and conditions of this Sublease to be kept and performed by Subtenant during the Sublease Term. If Sublessee fails Subtenant defaults with respect to pay rent or other charges when due under any provision of this SubleaseSublease including, or fails but not limited to, any provision relating to perform any the payment of its other obligations hereundermoney, Sublessor Sublandlord may use or (but shall not be required to) use, retain and 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 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 other loss or damage sustained by Sublessor which Sublandlord may suffer as a result of SublesseeSubtenant's default or breachdefault. If Sublessor so uses any portion of the Security DepositDeposit is so used or applied, Sublessee Subtenant shall, within ten five (105) days after written demand thereof, deposit with Sublandlord by Sublessor, wire transfer of immediately available funds an amount sufficient to restore the Security Deposit to the full amount originally depositedits original amount, and SublesseeSubtenant's failure to do so shall constitute a material default under this SubleaseSublease without any notice or cure period. Sublessor Sublandlord shall not be required to keep the Security Deposit separate from its general accountsfunds, and Subtenant shall have no obligation or liability for payment of not 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 Any unused portion 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 Subtenant within thirty (30) days following the expiration of the Sublease Term or vacation of the Premises by Subtenant, whichever event occurs last. Subtenant acknowledges and agrees that in the event Subtenant shall file a voluntary petition pursuant to the last assigneeBankruptcy Code or any successor thereto, or if anyan involuntary petition is filed against Subtenant pursuant to the Bankruptcy Code or any successor thereto, then Sublandlord may apply the Security Deposit towards those obligations of Sublessee's interest hereunderSubtenant to Sublandlord which accrued prior to the filing of such petition.

Appears in 1 contract

Samples: Sublease Agreement (SeaSpine Holdings Corp)

Security Deposit. Sublessee (a) Sub-Subtenant shall deposit with Sublessor Sub-Sublandlord upon its execution of this Sublease hereof the sum of Twenty One Hundred Seventy Four Thousand Two Eight Hundred Fifty Seventy and 40/100ths Dollars 00/100 ($20,250.40174,870.00) Dollars as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit")) for the performance by Sub-Subtenant of all of the terms, covenants and conditions of this Sub-Sublease on Sub-Subtenant's part to be performed. Sub-Sublandlord shall have the right following Sub-Subtenant's default beyond applicable notice and grace periods, without additional notice to Sub-Subtenant, and regardless of the exercise of any other remedy Sub-Sublandlord may have by reason of a default beyond applicable notice and grace periods, to apply that part of said Security Deposit to cure any default beyond applicable notice and grace periods of Sub-Subtenant, and, if Sub-Sublandlord does so, Sub-Subtenant shall, within five (5) days of demand therefor, deposit with Sub-Sublandlord the amount so applied so that Sub-Sublandlord shall have the full amount of the security at all times during the term of this Sub-Sublease. If Sublessee fails Sub-Subtenant shall fail to pay rent or other charges when due under this Subleasemake such deposit, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of Sub-Sublandlord shall have the Security Deposit same remedies for such failure as Sub-Sublandlord has for a default in the payment of any rent Base Rent. In the event of an assignment 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 transfer of the Security Depositleasehold estate and this Sub-Sublease, Sublessee shall, within ten (10) days after written demand by Sublessor, restore Sub-Sublandlord shall transfer the Security Deposit to the full amount originally depositedassignee, and Sublessee's failure to do so in such event, (a) Sub-Sublandlord shall constitute a default under this Sublease. Sublessor shall not thereupon be required to keep automatically released by Sub-Subtenant from all liability for the return of such Security Deposit separate from its general accountsDeposit, and (b) Sub-Subtenant shall have no obligation or liability look solely to the assignee for payment the return of interest on the said Security Deposit. In , and the event Sublessor assigns its interest in foregoing provisions of this Sublease, Sublessor sentence shall deliver apply to its assignee so much every transfer made of the Security Deposit as is then held by Sublessorto a new assignee of Sub-Sublandlord's interest in the Original Sublease. Within ten If Sub-Subtenant shall not be in material or monetary default of the terms, covenants and/or conditions of this Sub-Sublease beyond applicable notice and grace periods, the Security Deposit shall be returned to Sub-Subtenant with interest accrued thereon within thirty (1030) days after the Term has expired, or Sublessee has vacated date fixed as the Premises, or any final adjustment pursuant end of this Sub-Sublease and after delivery of the Subleased Premises to Subsection 6.2 hereof has been made, whichever shall last occur, Sub-Sublandlord in the manner and provided Sublessee is not then in default of any of its obligations hereunder, condition required by this Sub-Sublease and 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 hereunderLease.

Appears in 1 contract

Samples: Sub Sublease (Cytrx Corp)

Security Deposit. Upon execution of this Sublease, Sublessee shall deposit with Sublessor upon execution the sum of Fifty Thousand Six Hundred Eighty-Five and 00/100 Dollars ($50,685.00), which shall be held by Sublessor as a security deposit for Sublessee’s performance of all the terms, 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"). If Sublessee fails to pay rent or other charges when due defaults under any provision of this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use (but shall not be required to) use, apply or apply retain all or any portion part of the this 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 spend by reason of Sublessee's ’s default or breach, or to compensate Sublessor for any loss or damage sustained by Sublessor as a result may suffer because 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 immediately after written demand by Sublessordemand, deposit cash with Sublessor in an amount sufficient 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 is not be required to keep the Security Deposit separate from its general accountsfunds, and shall have no obligation or liability for payment of all interest earned on the Security Deposit. In security deposit shall accrue to the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much benefit 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, and provided Sublessee is not then in default of any performs each of its obligations hereunderunder this Sublease, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessorany balance thereof, shall be returned to Sublessee within thirty (30) days after the later of (i) the expiration of the Term or sooner termination of the Sublease; (ii) the date Sublessee vacates the Subleased Premises; or (iii) the date Sublessee will have no further unperformed obligations herein. Sublessee hereby waives the provisions of Section 1950.7 of the California Civil Code (providing that a landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by a tenant, or to clean the last assigneepremises); provided, if anyin so waiving the provisions of Section 1950.7, Sublessee shall not be deemed to have agreed to permit Sublessor to retain any portion of Sublessee's interest hereunderthe Security Deposit in excess of that which would be required to make Sublessor whole (whether prior to or following termination of the Sublease).

Appears in 1 contract

Samples: Sublease (Cadence Pharmaceuticals Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease in addition to Minimum Rents as Specified under Section 6.1, the sum of Twenty Thousand Two Hundred Fifty Fifty-one thousand sixty-two and 40/100ths no/100's (Dollars ($20,250.4051,062.00) 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 is granted approval for assignment and thereafter 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: Renewal Agreement (Extreme Networks 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 execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty hereof One hundred thousand dollars and 40/100ths Dollars no/cents ($20,250.40100,000.00) 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 this Subleasehereunder, or fails otherwise defaults with respect to perform any provision of its other obligations hereunderthis Lease, 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, for charge in default of 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, and Sublessee's failure to do so shall constitute a default under this Subleaseamount. 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 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 DepositSaid deposit, or so much thereof as had has not theretofore been applied by Sublessor, shall 3 be returned returned, without payment of interest, to Sublessee or (or, at Sublessor's option, to the last assignee, if any, of Sublessee's interest hereunder) at the expiration or early termination 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: Sublease Agreement (Molecular Devices Corp)

Security Deposit. A. Upon execution hereof by Sublessee, Sublessee shall provide a cash security deposit with Sublessor upon execution of this Sublease the sum of Twenty equal to Four Hundred Thirty-Two Thousand Two Nine Hundred Fifty and 40/100ths Sixty Dollars ($20,250.40432,960) (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 SubleaseSublease beyond any applicable notice and cure period, 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 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, Sublessor shall deliver return to its assignee Sublessee so much of the Security Deposit as has not been applied by Sublessor pursuant to this paragraph, or which is then held by Sublessornot otherwise required to cure Sublessee’s defaults. Within Notwithstanding anything to the contrary contained herein, the amount of the Security Deposit required hereunder will be reduced to Two Hundred Sixteen Thousand Four Hundred Eighty Dollars ($216,480), for the first sixty (60) days following the Commencement Date provided that Sublessee shall provide the Letter of Credit or a cash Security Deposit equal to the full amount prior to the expiration of such sixty (60) day period. If Sublessee elects to provide a Letter of Credit, Sublessor shall return the Security Deposit to Sublessee within ten (10) days after of delivery 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 Letter 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 hereunderCredit.

Appears in 1 contract

Samples: Sublease (CytomX Therapeutics, Inc.)

Security Deposit. Within five (5) days following Landlord's approval ---------------- of this Sublease, but in any event prior to the date Sublessee takes possession of the Subleased Premises, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $198,017.64 in cash ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"), as security for the performance by Sublessee of its obligations under this Sublease. If Such Security Deposit as held by Sublessor shall be deemed to constitute "cash collateral" within the meaning of applicable Federal and State bankruptcy and insolvency laws and regulations. In the event Sublessee fails to pay rent or other charges when due defaults under this Sublease, or fails and such default continues beyond the notice and cure period available therefor, if any, Sublessor, in addition to perform any its right to recoup possession and control of its other obligations hereunderthe Subleased Premises, shall have the right to take and collect the Security Deposit as liquidated damages for Sublessee's breach in accordance with Article 12. Provided that Landlord determines on advice of counsel that the enforceability of the liquidated damages provisions of this Sublease will not be adversely impacted thereby, Sublessor may use or agrees to apply all or any a portion of the Security Deposit for from time to time to cure Sublessee's defaults hereunder which are curable by the payment of any rent or other an amount then due hereunder less than $5,000 for an individual default and unpaid$50,000 for all defaults in the aggregate; provided however, for the payment of any other sum for which that Sublessor may become obligated shall have no obligation to apply such funds if Sublessee fails to approve in writing such application upon written request therefor by reason Sublessor (but Sublessor shall have no obligation to request such approval) and provided further that within five (5) business days of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as learning of Sublessor's application of a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security DepositDeposit to cure a default by Sublessee, Sublessee shall, within ten (10) days after written demand by Sublessor, shall forward to Sublessor such amounts as are necessary to restore the Security Deposit to the its full amount originally deposited, of $198,017.64 and Sublessee's failure to do so shall will constitute a an event of default under this SubleaseSublease without any further notice, demand or opportunity to cure. The Security Deposit need not be segregated by Sublessor from other funds of Sublessor and Sublessee shall not be required entitled to keep any interest thereon. In no event shall the Security Deposit separate from its general accountsconstitute or be deemed to constitute rent payment or rent prepayment, and shall have no obligation and, if applied by Sublessor as contemplated hereunder, will not constitute or liability for payment be deemed to constitute a cure of interest on Sublessee's default. Notwithstanding the Security Deposit. In the event Sublessor assigns its interest in this Subleaseforegoing, Sublessor shall deliver agrees to its assignee so much of apply 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.follows:

Appears in 1 contract

Samples: Sublease Agreement (Multilink Technology Corp)

Security Deposit. Upon execution hereof, Sublessee shall deposit the Security Deposit with Sublessor. The Security Deposit shall secure Sublessee's obligations under this Sublease to pay Base Rent and other monetary amounts, to maintain the Premises and repair damages thereto, to surrender the Premises to Sublessor in clean condition and repair upon execution termination of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for to discharge Sublessee's faithful performance other obligations hereunder. Sublessor may use and commingle the Security Deposit with other funds of Sublessee's obligations hereunder ("Security Deposit")Sublessor. If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other Sublessee's obligations hereunder, Sublessor may use or may, but without any obligation to do so, 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 towards fulfillment of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breachunperformed obligations. If Sublessor does so uses apply any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, Xxxxxxxxx's failure to remit to Sublessor a sufficient amount in cash to restore the Security Deposit to the full original amount originally deposited, and Sublesseewithin five (5) days after receipt of Xxxxxxxxx's failure written demand to do so shall constitute (together with a default under this Sublease. Sublessor shall not be required to keep written statement in reasonable detail of the Security Deposit separate from its general accounts, and shall have no obligation reason for the application of all or liability for payment a portion of interest on the Security Deposit) shall constitute an event of default. In the event Sublessor assigns its interest in Upon termination of 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, and provided Sublessee is not then in default performed all of any of its Sublessee's obligations hereunder, Sublessor shall return the Security Deposit, or so much thereof as had not theretofore been whatever amount remains of the Security Deposit after Sublessor applied by Sublessorall or a portion of the Security Deposit to perform Sublessee's obligations hereunder, shall be returned to Sublessee without payment of interest within thirty (30) days after the expiration or to the last assignee, if any, earlier termination of Sublessee's interest hereunderthis Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Actionpoint Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Zero (0) Dollars ($20,250.40) 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 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 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: Sublease (Omeros Corp)

Security Deposit. Sublessee Upon Subtenant's execution hereof, Subtenant shall deposit with Sublessor upon execution Sublandlord a security deposit in the amount of this Sublease the sum of Twenty Ninety One Thousand Two Hundred Fifty Sixty Three and 40/100ths 00/100 Dollars ($20,250.4091,263.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"), as security for Subtenant's faithful performance of Subtenant's obligations hereunder. If Sublessee Subtenant fails to pay 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 unpaid, charge 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 shall within ten (10) days after written demand by Sublessor, therefore 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 be a default under material breach of 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 . If Subtenant 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 Subtenant's obligations hereunder, the Security Deposit, or so much thereof as had has not theretofore been used or applied by SublessorSublandlord, shall be returned returned, to Sublessee Subtenant (or at Subtenant's option, to the last assignee, if any, of SublesseeSubtenant's interest hereunder) at the expiration of the term hereof, and after Subtenant has vacated the Subleased Premises. No trust relationship is created herein between Sublandlord and Subtenant with respect to the Security Deposit. Any deposit under the Master Lease which may be returned by the Master Landlord shall be the property of Sublandlord.

Appears in 1 contract

Samples: Sublease (Optio Software Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease hereof the sum of Twenty Ten Thousand Two Five Hundred Fifty Forty Nine and 40/100ths 38/100 Dollars ($20,250.4010,549.38) 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 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 Deposit, said 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 (or, at Sublessor's option, to the last assignee, if any, of or Sublessee's interest hereunder) within fifteen (15) days after the expiration of the term hereof, or after Sublessee has vacated the Premises, whichever is later.

Appears in 1 contract

Samples: Sublease Agreement (Interactive Objects Inc)

Security Deposit. Sublessee Simultaneously with Subtenant's execution hereof, Subtenant shall place with Sublandlord a security deposit with Sublessor upon execution in the amount of this Sublease $131,404. Such security deposit shall bear simple interest at the sum rate of Twenty Thousand Two Hundred Fifty five percent (5%) per annum and 40/100ths Dollars ($20,250.40) shall be considered as security for Sublesseethe payment and performance by Subtenant of all of Subtenant's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due obligations, covenants, conditions and agreements under this Sublease. Upon condition that W Subtenant has not previously defaulted any payment obligation under this Sublease (even though such default may have been cured within the applicable grace period) , and (ii) Subtenant is not then in default under the provisions hereof, Sublandlord shall return such security deposit, together with interest thereon, to Subtenant on June 1, 1999. If such security deposit is not returned to Subtenant on June 1, 1999 because of a failure of a condition set forth in either clause W or fails (ii) of the previous sentence, upon the expiration of the term of this Sublease, Sublandlord shall (provided that Subtenant is not then in default under the provisions hereof), return such security deposit (plus interest thereon) to perform Subtenant, less such portion thereof as Sublandlord shall have retained to make good any default by Subtenant with respect to any of its other obligations Subtenant's aforesaid obligations, covenants, conditions or agreements. In the event of any default by Subtenant hereunder, Sublessor may use or Sublandlord shall have the right, but shall not be obligated, to apply all or any portion of the Security Deposit security deposit to compensate Sublandlord (whether in whole or in part) for such default, in which event, within fifteen (15) days thereafter, Subtenant shall be obligated to deposit with Sublandlord the amount necessary to restore the security deposit to its original amount; provided, however, neither the application of the security deposit as set forth above nor 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 Subtenant to restore such security deposit shall operate to cure such default or breach, or for to estop Sublandlord from pursuing 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 remedy to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not which Sublandlord would otherwise 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 hereunderentitled.

Appears in 1 contract

Samples: Sublease (Hagler Bailly 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 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 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. Sublessee 4.1 Concurrently with Subtenant's execution of this Sublease, Subtenant shall deposit with Sublessor upon execution of this Sublease Sublandlord the sum of Twenty Two Hundred Twenty-One Thousand Two One Hundred Fifty and 40/100ths 00/100 Dollars ($20,250.40221,150) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"). The Deposit shall be held by Sublandlord as security for the faithful performance by Subtenant of all the provisions of this Sublease to be performed or observed by Subtenant. If Sublessee Subtenant fails to pay rent or other charges when sums due under hereunder, or otherwise defaults 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 or other amount then due hereunder and unpaid, sum in default or for the payment of any other sum for to which Sublessor Sublandlord may become obligated 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 Sublandlord so uses or applies all or any portion of the Security Deposit, Sublessee shall, Subtenant shall 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 full amount originally deposited, thereof and SublesseeSubtenant's failure to do so shall constitute be a default under material breach of 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 . If Subtenant 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 Subtenant's obligations hereunder, the Security Deposit, or so much thereof as had has not theretofore been applied by SublessorSublandlord, shall be returned returned, without interest, to Sublessee or Subtenant (or, at Sublandlord's option, to the last assignee, if any, of SublesseeSubtenant's interest hereunder) promptly following the expiration of the Term, and after Subtenant has vacated the Subleased Premises. No trust relationship is created herein between Sublandlord and Subtenant with respect to the Deposit.

Appears in 1 contract

Samples: Cutter & Buck Inc

Security Deposit. Sublessee shall deposit with Sublessor upon Upon execution of this Sublease Sublease, Sublessee shall pay to Sublessor the sum of Twenty Sixteen Thousand Two Five Hundred Fifty and 40/100ths Thirty-two Dollars ($20,250.4016,532.00), and within three days of the date Landlord consents to this Sublease, Sublessee shall pay to Sublessor an additional sum of Sixteen Thousand Five Hundred and Thirty-two Dollars ($16,532.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"). If ) for the faithful performance by Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder. The Security Deposit shall be paid to Sublessor in cash. In the event of an Event of Default (as defined in Section 19 hereof), Sublessee hereby authorizes Sublessor, at Sublessor's election (with notice to Sublessee) and with or without terminating this Sublease and without prejudice to any other right or remedy Sublessor may use or have, to 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 breachnecessary to remedy such default. If said Security Deposit or portion thereof is so applied, Sublessee, upon demand by Sublessor, shall within seven (7) days after written notice therefor from Sublessor, deposit with Sublessor an amount equal to the amount of the Security Deposit so uses any applied. Any unapplied cash portion of the Security DepositDeposit shall be held by Sublessor in a separate escrow account and interest earned thereon shall be paid to Sublessee on an annual basis. On November 1, Sublessee shall1998, within ten a payment in an amount equal to one (101) days after written demand by Sublessor, restore month's rent (including any Additional Rent) shall be deducted from the Security Deposit to the full amount originally deposited, and applied towards 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 obligations hereunder without any objection on the Security Deposit. In the event part of Sublessor assigns its interest in this Sublease, Sublessor shall deliver or demand to its assignee so much reinstate such portion of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expiredso applied, or provided that Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has never been made, whichever shall last occur, and provided Sublessee is not then currently in default under this Agreement. Any portion of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, Deposit remaining at the end of the term of this Sublease shall be returned refunded to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Eprise Corp)

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)

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Security Deposit. Upon the oral acceptance of this Sublease by Master Lessor, Sublessee shall deposit with Sublessor upon execution Sublessor, in immediately available funds, a security deposit in the amount of this Sublease the sum of Twenty Seventeen Thousand Two Hundred Fifty Fifty-Six dollars and 40/100ths Dollars 00/100 ($20,250.4017,056.00) as security for Sublessee's faithful performance of Sublessee's obligations hereunder (the "Security Deposit"), which Security Deposit shall be held by Sublessor as security for the faithful performance by Sublessee of each of every term, covenant and condition of this Sublease applicable to Sublessee, and not as prepayment of Rent, provided, however, that should Sublessee be in material compliance with the terms of this Sublease on November 1, 2006, the rent due November 1, 2006 shall be deducted from the Security Deposit held by Sublessor. Sublessee shall not be entitled to receive any interest on the Security Deposit. The Security Deposit shall be deposited in the Sublessor's attorney's trust account. If Sublessee fails shall at any time fail to pay rent keep or perform any term, covenant or payment of Rent or any other charges when amounts due under this Sublease, hereunder or fails otherwise fail to perform any of its other obligations hereunder, Sublessor may use may, but shall not be obligated to and without waiving or releasing Sublessee from any obligation under this Sublease, use, apply all or retain the whole or any portion part of the Security Deposit necessary 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 incur by reason of Sublessee's default or breach, or as necessary to compensate Sublessor for any loss or damage sustained which Sublessor may suffer by Sublessor as a result reason of Sublessee's default default. In the event Sublessor uses or breach. If Sublessor so uses applies any portion of the Security Deposit, Sublessee shall, within ten five (105) days after written demand by Sublessor, remit to Sublessor sufficient funds to restore the Security Deposit to the full amount originally deposited, and its original sum. Sublessee's failure to do so remit funds to Sublessor shall constitute a default by Sublessee under this Sublease. Sublessor shall not be required In the event Sublessee complies with all of the terms, covenants and conditions of the Sublease applicable to keep Sublessee, 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 within thirty (30) days from the last assignee, if any, date Sublessor receives possession of the Sublease Premises from Sublessee's interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Amazing Technologies Corp.)

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. Tenant 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. Tenant 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 shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Twenty-Five Thousand Two Hundred Fifty and 40/100ths No/1 00 Dollars ($20,250.4025,000) 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 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.as

Appears in 1 contract

Samples: Agreement (Corillian 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 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. Sublessee Lessee shall deposit with Sublessor upon execution of this Sublease Lessor the sum of Twenty One Hundred Forty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40140,000) upon Lessee's occupancy of all or any portion of the Premises for other than construction purposes (including installation of fixtures, equipment and furnishings), as security for SublesseeLessee's faithful performance of SublesseeLessee's obligations hereunder (the "Security Deposit"). 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 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 breachwhich Lessor may suffer thereby. If Sublessor Lessor so uses or applies all or any portion of the Security 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 to the full amount originally deposited, and Sublessee's failure to do so then required of Lessee. Lessor shall constitute a default under this Sublease. Sublessor shall not be required to keep deposit the Security Deposit separate from its general accountsin an interest bearing account in the name of Lessor and with the tax identification number of Lessee, and, so long as no Event of Default then exists hereunder, shall pay on maturity of the investment or, if such investment has no maturity, semi-annually to Lessee any interest earned on such account. The Security Deposit shall be deposited with any "A" rated bank chosen by Lessor and shall have be invested initially in one (1) year certificates of deposit, or such other investments as may be mutually agreed to by the parties. In no obligation or event shall Lessor incur any liability for the failure of the lending institution to make any payment of interest, Lessor's only obligation being to pay to Lessee any interest on the Security Depositpaid to Lessor. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much If Lessee 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 Lessee's obligations hereunder, the Security Deposit, or so much thereof as had has not theretofore been applied by SublessorLessor, shall be returned returned, to Sublessee or Lessee (or, at Lessor's option, to the last assignee, if any, of SublesseeLessee's interest hereunder) after 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 the Security Deposit.

Appears in 1 contract

Samples: Industrial Lease Agreement (Western Digital Corp)

Security Deposit. Upon its execution of this Sublease, Sublessee shall deposit with Sublessor upon execution of this Sublease Sublessor, a cash security deposit (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") in the amount of One Thousand Five Hundred Seventy Six and 67/100 Dollars ($1,576.67), which Sublessor may draw upon to cure any default under this Sublease continuing beyond any applicable notice and cure periods or to compensate Sublessor for any damage Sublessor incurs as a result of Sublessee's failure to perform any of its obligations hereunder. If Sublessee 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 Sublease beyond any applicable notice and cure periods, 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 ox 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 any portion of draws on the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessorof such draw, restore Sublessee shall replenish the Security Deposit so that the amount available to Sublessor from the full Security Deposit provided hereunder is the amount originally deposited, and specified above. Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep replenish the Security Deposit separate from its general accounts, as required hereunder within the tune specified herein shall constitute an Event of Default under this Sublease and shall have no obligation or liability for payment of interest on entitle Sublessor to draw the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much full amount of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expiredin effect, in addition to any other rights at law, in equity or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been madethe Master Lease. Provided there is no uncured default on the Expiration Date, whichever shall last occur, and provided Sublessee is not then in default any balance of any of its obligations hereunder, the Security DepositDeposit not used, applied or so much thereof retained by Sublessor as had not theretofore been applied by Sublessorabove provided, shall be returned to Sublessee within fifteen days after the Sublease Expiration Date and after delivery of possession of the entire Demised Premises to Sublessor in accordance with the terms of this Sublease. Any interest that accrues on the Security Deposit shall belong to Sublessor. Sublessee covenants that it will not assign or encumber, or attempt to assign or encumber, the Security Deposit and that neither Sublessor nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment, or attempted encumbrance. In the event that any bankruptcy, insolvency, reorganization or other debtor-creditor proceedings shall be instituted by or against the Sublessee, its successors or assigns, the Security Deposit shall be deemed to be applied to the last assigneepayment of the Sublease Rent and additional rent due Sublessor for periods prior to the institution of such proceedings and the balance, if any, may be retained by Sublessor in partial satisfaction of SublesseeSublessor's interest hereunderdamages.

Appears in 1 contract

Samples: Sublease Agreement (Valesc Inc)

Security Deposit. Concurrently herewith, Sublessee shall deposit One Hundred Four Thousand One Hundred Eighty-eight Dollars and Fifty Cents ($104,188.50) 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 its obligations hereunder ("under the terms of this Sublease. Sublessor shall not be required to keep any cash portion of the Security Deposit")Deposit separate from its general funds, or to pay any interest thereon. The Security Deposit shall be held by Sublessor and may be applied by Sublessor in accordance with the provisions of Article 18 of the Master Lease. If Sublessee fails defaults with respect to pay rent or other charges when due under any provision of this Sublease, or fails including, without limitation, the provisions relating to perform any the payment of its rental and other obligations sums due hereunder, Sublessor may use shall have the right, but shall not be required, to use, apply or apply retain all or any portion part of the Security Deposit for the payment of rental or any rent or other amount then due hereunder and unpaid, for the payment of any other sum for 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. 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 Sublessortherefor, deposit cash with Sublessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, required hereunder and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not If Sublessee fully and faithfully performs every provision of this Sublease to be required to keep the Security Deposit separate from its general accountsperformed by it, and shall have no obligation or liability for payment of interest on the Security Deposit, or any balance thereof, shall be returned to Sublessee or, at Sublessor's option, to the last assignee of Sublessee's interest hereunder, at the expiration of the term of this Sublease and after Sublessee has vacated the Premises. In the event Sublessor assigns its of termination of Sublessor's interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is transfer all deposits then held by Sublessor under this Section to Sublessor. Within ten (10) days after 's successor in interest, whereupon Sublessee agrees to release Sublessor from all liability for the Term has expired, return of such deposit 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 hereunderaccounting thereof.

Appears in 1 contract

Samples: Sublease Agreement (Cytokinetics Inc)

Security Deposit. Sublessee shall deposit Concurrent with Sublessor upon the execution of this Sublease, Sublessee shall pay a security deposit equal to the amount of the rent payment for the last month of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.404,000.00) and the amount of the first rent payment due hereunder ($4,000.00). The security deposit shall be held by Sublessor without liability for interest and as security for Sublessee's faithful the performance by Sublessee of Sublessee's covenants and obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, it being expressly understood that the security deposit shall not be considered an advance payment of rental or fails to perform any a measure of its other obligations hereunder, Sublessor's damages in case of a default by Sublessee. Sublessor may commingle the security deposit with Sublessor's other funds and may hold same in an interest bearing account, with such interest to accrue to Sublessor's benefit. Sublessor may, from time to time, without prejudice to any other remedy, use the security deposit to the extent necessary to make good any arrearages of rent or apply all to satisfy any other covenant or obligation of Sublessee hereunder. following any portion such application of the Security Deposit for security deposit, sublessee shall pay to sublessor on demand the payment amount so applied in order to restore the security deposit to its original amount. If Sublessee is not in default at the termination of this Sublease, the balance of the security deposit remaining after 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 such application shall be returned by Sublessor as a result of to 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 transfers its interest in the Premises during the term of this Sublease, Sublessor shall deliver to its assignee so much of may assign 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 security deposit to the last assignee, if any, transferee and thereafter Sublessor shall have no further liability for the return of Sublessee's interest hereundersuch security deposit.

Appears in 1 contract

Samples: Sublease Agreement (First Virtual Holding Inc)

Security Deposit. Upon execution hereof, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Two Hundred Six Thousand Two Hundred Fifty and 40/100ths no/100 Dollars ($20,250.40206,250.00) as security and for a Security Deposit to secure Sublessee's faithful ’s 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 including, without limitation, any damage that will result in the future through the term of the Sublease, to repair damage to the Subleased Premises or to clean the Subleased Premises at the end of the term. 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) 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 ’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, or (ii) Sublessee’s surrender of possession of the Subleased Premises to the last assignee, if any, of Sublessee's interest hereunderSublessor.

Appears in 1 contract

Samples: Sublease Agreement (Roxio Inc)

Security Deposit. Sublessee shall deposit Sublessee, concurrently with Sublessor upon the execution of this Sublease Sublease, has deposited with Sublessor a deposit (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 ) in the amount of Five Hundred Twenty Four Thousand Four Hundred Forty 00/100 Dollars ($524,440.00) to be held by Sublessor without interest as security for the faithful performance and observance by Sublessee fails to pay rent or other charges when due under of the terms, conditions and provisions of this Sublease, or fails including without limitation the surrender of possession of the Sublease Premises to perform Sublessor as herein provided. Sublessor shall not be required to maintain the Security Deposit in a separate account. It is agreed that in the event Sublessee defaults in respect of any of its other obligations hereunderthe terms, provisions and conditions of this Sublease, including, but not limited to, the payment of rent, Sublessor may 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 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 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 Sublease, including but not limited to, any damages or breachdeficiency in the reletting of the Subleased Premises, whether such damages or deficiency accrue or accrues before or after summary proceedings or other reentry by Sublessor. The Security Deposit is not to be used or applied by Sublessee as a substitute for rent due any loss or damage sustained month, but may be so applied by Sublessor as at any time at Sublessor's option in the event of a result default beyond the expiration of Sublessee's default any applicable cure period. The use, application or breach. If Sublessor so uses any portion retention of the Security Deposit, Sublessee shallor any portion thereof, 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 prevent Sublessor from its general accounts, exercising any other right or remedy provided by this Sublease or by law and shall have no obligation not operate as a limitation on any recovery to which Sublessor may otherwise be entitled. If Sublessor applies or liability for payment retains any part 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 Sublessee, upon written demand therefor by Sublessor, shall deposit cash with Sublessor in such amount so that Sublessor shall have the full deposit on hand at all times during the term of this Sublease. If Sublessee shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of this Sublease, the balance of the Security Deposit, if any, shall be returned to Sublessee or to within sixty (60) days after the last assignee, if any, Termination Date and after the delivery of Sublessee's interest hereunderthe entire possession of the Sublease Premises.

Appears in 1 contract

Samples: Agreement (Combinatorx, Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Eight Thousand Two Seven Hundred Fifty Seventy-One and 40/100ths 83/100 Dollars ($20,250.408,771.83) as security for Sublessee's faithful performance of Sublessee's obligations obligation 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 SublesseeSublessor's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor Subleasor so uses any portion of the Security Deposit, Sublessee shall, shall within ten (10) days after written demand by Sublessor, restore the Security Deposit 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 deposited 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 the 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 obligation hereunder, the Security Deposit, Deposit or so much thereof hereof as had not theretofore therefore been applied by SublessorSublesssor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.

Appears in 1 contract

Samples: Firepond Inc

Security Deposit. Sublessee shall deposit with Sublessor upon contemporaneously with the execution of this Sublease an amount equal to the sum of Twenty One Hundred Twenty-one Thousand Two Seven Hundred Fifty Seventy-three and 40/100ths No/100 Dollars ($20,250.40US$121,773.00) (the "Security Deposit") as security for Sublessee's faithful the full performance of Sublessee's obligations hereunder ("Security Deposit")this Sublease. If Sublessee fails to pay rent or other charges when due defaults under any provision of this Sublease, Sublessor shall be entitled, at Sublessor's option and in addition to all other rights and remedies available to Sublessor, to 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 for the payment of any rent or any other amount then charge due hereunder and unpaid, for the payment of Sublessor or any other sum for which that Sublessor may spend or become obligated to spend 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 breachdefault. 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 Sublessordemand, deposit cash with Sublessor in an amount sufficient 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 the Security Deposit separate from its general accounts, funds and Sublessee shall have no obligation or liability for payment of not 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 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, shall be returned to Sublessee or after Sublessor is able to determine the last assignee, if any, final amounts of Sublessee's obligations upon the expiration or termination of this Sublease. If Sublessor transfers Sublessor's interest hereunderin the Premises during the term of this Sublease, Sublessor may transfer the Security Deposit to any subsequent owner and Sublessee hereby releases Sublessor from all liability for the return of the Security Deposit, provided the transferee assumes Sublessor's obligations hereunder with respect -------- to the Security Deposit. Sublessee shall not assign, pledge, mortgage, or otherwise hypothecate its interest in the Security Deposit.

Appears in 1 contract

Samples: Lease Agreement (Cost U Less 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 Four thousand six hundred six dollars ($20,250.404,606) as security for ------------------------------------- Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). Security shall be placed in an interest bearing account with proceeds enuring to the Sublessee. 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 1 contract

Samples: Network Access Solutions Corp

Security Deposit. Within twenty-one (21) days after the execution of this Sublease, Sublessee shall deposit with Sublessor upon the sum of Six Hundred Thousand Five Hundred One and 32/100 ($600,501.32) Dollars (the “Security Deposit”), as security for the performance by Sublessee of the terms and conditions of this Sublease by delivery of a standby letter of credit issued by a bank and in a form reasonably acceptable to Sublessor. If said letter of credit is not received by Sublessor within twenty-one (21) days after execution of this Sublease Sublease, Sublessee will promptly deposit with Sublessor the sum Security Deposit in cash. At Sublessee’s earliest availability, Sublessee shall replace the cash Security Deposit with the letter of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as credit and, upon receiving the letter of credit, Sublessor shall promptly return the cash security for deposit to Sublessee's faithful performance of Sublessee's obligations hereunder ("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 and such failure or default continues beyond applicable notice and cure periods set forth in 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, without prejudice to any other remedy provided herein or by Sublessor as a result of Sublessee's default or breachlaw. If Sublessor so uses or applies all or any portion of the Security Deposit, Sublessee shallthen Sublessee, within ten (10) business days after written demand by Sublessortherefor, shall deposit cash a replacement letter of credit 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 stated above. Provided Sublessee is not then in default under this Sublease. Sublessor shall not be required to keep , the Security Deposit separate from its general accounts, shall be reduced to Four Hundred Fifty Thousand Three Hundred Seventy-Five and shall have no obligation or liability for payment of interest 99/100 Dollars ($450,375.99) on the Security Depositsecond annual anniversary of the Sublease Commencement Date. In such event, upon written notice to Sublessor, Sublessee may reduce the event Sublessor assigns its interest in Security Deposit amount by either replacing or amending the letter of credit then held by Sublessor. Within thirty (30) days immediately following the expiration of 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 Sublessor, shall be returned Sublessor pursuant to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderthis Section 5.

Appears in 1 contract

Samples: Sublease (Lyra Therapeutics, Inc.)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of One Hundred Twenty Five Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40125,000.00) as security for Sublessee's ’s faithful performance of Sublessee's ’s obligations hereunder ("Security Deposit"). If Sublessee fails falls 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 ’s interest hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Hana Biosciences Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Nine Thousand Two Four Hundred Fifty Nine and 40/100ths No/100 Dollars ($20,250.409,459.00) 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.

Appears in 1 contract

Samples: Lease Agreement (Catapult Communications Corp)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Ten Thousand Two Hundred Fifty Dollars and 40/100ths no cents. Dollars ($20,250.4010,000.00) 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 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: Bernstein Leibstone Associates Inc /Ny/

Security Deposit. Sublessee shall deposit with Sublessor upon In addition to the Advance Rent and within seven (7) days after the execution of this Sublease Sublease, Sublessee shall deliver to Sublessor an unconditional and irrevocable letter of credit in favor of Sublessor, drawn upon Silicon Valley Bank in a form reasonably acceptable to Sublessor, for the principal sum of Twenty One Hundred Sixty Thousand Seven Hundred Eighty-Two Hundred Fifty and 40/100ths Dollars ($20,250.40160,782) ("Deposit") as security for Sublessee's faithful performance of Sublessee's obligations hereunder hereunder. If Sublessee faithfully performs all of Sublessee's obligations under this Sublease, then on or after April 1, 2000, Sublessee may elect to reduce the principal amount of the letter of credit to Eighty Thousand Three Hundred Ninety-One Dollars ("Security Deposit"$80,391). Upon Sublessee exercising such right, the term "Deposit" shall mean such reduced principal amount. If any letter of credit held by Sublessor will expire prior to the Expiration Date, and it is not extended or a new letter of credit is not substituted within thirty (30) days prior to the expiration date of the letter of credit then held by Sublessor, then Sublessor shall be entitled to draw the entire amount of the letter of credit then held by Sublessor and hold such funds in accordance with this Section 5 until the Expiration Date. At any time that Sublessee fails to pay rent Rent or any other charges when amounts due under this Subleasehereunder, or fails otherwise defaults with respect to perform any provision of its other obligations hereunderthis Sublease or the Master Lease, Sublessor may use shall be entitled to draw the entire amount of any letter of credit then held by Sublessor and use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent such amounts or other amount then due hereunder and unpaid, for the payment of any other sum for amount 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, therefor deposit cash 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. If Sublessee faithfully performs all of Sublessee's obligations hereunder, and shall have no obligation or liability for payment any letter 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 credit then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment Sublessor pursuant to Subsection 6.2 hereof this Section 5 or if Sublessor has been made, whichever shall last occur, and provided Sublessee is not then in default drawn upon such letter of any of its obligations hereundercredit pursuant to this Section 5, the Security Deposit, or so much thereof as had has not theretofore been previously applied by Sublessor, shall be returned returned, without payment of interest or other increment for its use, to Sublessee at the expiration of the term hereof and after Sublessee has vacated the Sublease Premises. No trust relationship is created herein between Sublessor and Sublessee with respect to said letter of credit or to the last assignee, if any, of Sublessee's interest hereunderDeposit.

Appears in 1 contract

Samples: Sublease Agreement (Keynote Systems Inc)

Security Deposit. (Please See Addendum) Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty Fourteen thousand four hundred sixty-five Dollars and 40/100ths eighty-five cents Dollars ($20,250.40$ 14,465.85 ) 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 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 If any, of Sublessee's ’s interest hereunder.

Appears in 1 contract

Samples: Tenant Improvement Agreement (Zogenix Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Two Thousand Two Four Hundred Fifty Ninety Seven and 40/100ths 69/100 Dollars ($20,250.40$ 2,497.69) as security for SublesseeXxxxxxxx's faithful performance of SublesseeXxxxxxxxx'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 SublesseeSublease's interest hereunder.

Appears in 1 contract

Samples: Hiway Technologies Inc

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease hereof the sum of Twenty One Hundred Ten Thousand Two Nine Hundred Fifty and 40/100ths Dollars Sixty Three ($20,250.40110,963.00) Dollars as security First Month’s Rent and Security Deposit equal to the last month’s rent for Sublessee's ’s faithful performance of Sublessee's ’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 rent, or other amount then due hereunder and unpaidcharge in default, or for the payment of any other sum for to which Sublessor may become obligated 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 Depositsaid deposit, Sublessee 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 depositedhereinabove stated, and Sublessee's ’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 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 without payment of interest for its use to Sublessee (or at Sublessor’s option to the last assignee, if any, of Sublessee's ’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: Sublease Agreement (AeroVironment Inc)

Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease on the Effective Date the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) 63,819.00 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 hereunder.in the Sublease). No trust relationship is created herein between Sublessor and Sublessee with respect to the Security Deposit. No payment of interest or other

Appears in 1 contract

Samples: Microcide Pharmaceuticals Inc

Security Deposit. (a) Upon execution of this Sublease, Sublessee shall provide Sublessor a security deposit in the sum of One Hundred Thousand Dollars ($100,000.00) in cash or by letter of credit drawn on a bank as well as in form approved by Sublessor (the “Letter of Credit”) or other form acceptable to Sublessor as security for the prompt, full and faithful performance by Sublessee of each and every provision of this Sublease and of all obligations of Sublessee hereunder (the “Security Deposit”). Said Security Deposit may not be commingled with other funds of Sublessor and all interest or income from said Security Deposit shall be due Sublessee. At any time during the Term, Sublessee shall have the right to deliver to Sublessor the Letter of Credit in the amount of, and as replacement for, the original Security Deposit given 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 and upon such replacement, the original Security Deposit shall be promptly returned to perform Sublessee. In the event of a default which continues beyond any of its other obligations hereunderapplicable notice and cure period, Sublessor may use use, apply, or apply retain all or any part of the Security Deposit for payment of any: (i) Base Rent or other Rental; (ii) any sum expended by Sublessor on Sublessee’s behalf in accordance with the provisions of this Sublease; and/or (iii) any sum which Sublessor may expend or be required to expend by reason of Sublessee’s default, including damages or deficiency in the reletting of the Subleased Premises. The use, application, or retention of the Security Deposit, or any portion thereof, by Sublessor shall not prevent Sub lessor from exercising any other right or remedy provided by this Agreement of Sublease or by law; and, shall not operate as a limitation on any recovery to which Sublessor may otherwise be entitled. If any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaidis 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 retained by Sublessor as for a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Depositpurpose set forth above, Sublessee shall, agrees that within ten five (105) business days after a written demand therefor is made by Sublessor, Sublessee will deposit with the Sublessor an amount sufficient to 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 hereunderoriginal amount.

Appears in 1 contract

Samples: Agreement of Sublease (ICF International, Inc.)

Security Deposit. Upon the execution of this Sublease, Sublessee ---------------- shall deposit with Sublessor upon execution of this Sublease $14,912.50 (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"), as security ---------------- for the faithful performance and observance by Sublessee of the terms, provisions, agreements, covenants and conditions of this Sublease. If Sublessee fails to pay rent The Security Deposit shall not be considered an advance payment of Basic Rent or other charges when due Additional Charges, and the Security Deposit shall not be considered a measure of Sublessor's damages in case of the occurrence of any default under this Sublease, or fails . Sublessee shall not be entitled to perform receive any interest on the Security Deposit and Sublessor may commingle the same with other monies of Sublessor. In the event Sublessee defaults in respect to any of its other obligations hereunderthe terms, provisions, agreements, covenants and conditions of this Sublease including, but not limited to, the payment of Basic Rent or Additional Charges, Sublessor may use may, at Sublessor's option, from time to time, without prejudice to any other remedy, use, apply or apply all retain the whole or any portion part of the Security Deposit for not theretofore applied to Basic Rent or Additional Charges to the payment extent necessary to make good any arrears of Basic Rent or Additional Charges or any rent damage, injury, expense or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated liability caused 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 of shall ever use the Security DepositDeposit not theretofore applied to Basic Rent to pay the sums described above, and if this Sublease has not terminated, Sublessee shall, shall immediately deposit with Sublessor additional monies equal to the amount so used within ten (10) days after written demand by Sublessorrequest therefor. If Sublessee shall fully and faithfully comply with all of the terms, restore provisions, agreements, covenants and conditions of this Sublease, then 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 within thirty (30) days after the termination or to the last assignee, if any, expiration of this Sublease (provided such termination is not a result of a default by Sublessee's interest hereunder).

Appears in 1 contract

Samples: Sublease Agreement (Imall 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. Concurrently herewith, Sublessee shall deposit One Hundred Four Thousand One Hundred Eighty-eight Dollars and Fifty Cents ($104,188.50) 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 its obligations hereunder ("under the terms of this Sublease. Sublessor shall not be required to keep any cash portion of the Security Deposit")Deposit separate from its general funds, or to pay any interest thereon. The Security Deposit shall be held by Sublessor and may be applied by Sublessor in accordance with the provisions of Article 18 of the Master Lease. If Sublessee fails defaults with respect to pay rent or other charges when due under any provision of this Sublease, or fails including, without limitation, the provisions relating to perform any the payment of its rental and other obligations sums due hereunder, Sublessor may use shall have the right, but shall not be required, to use, apply or apply retain all or any portion part of the Security Deposit for the payment of rental or any rent or other amount then due hereunder and unpaid, for the payment of any other sum for 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. 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 Sublessortherefor, deposit cash with Sublessor in an amount sufficient to restore the Security Deposit to the full amount originally deposited, required hereunder and Sublessee's failure to do so shall constitute be a default under material breach of this Sublease. Sublessor shall not If Sublessee fully and faithfully performs every provision of this Sublease to 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 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 hereunderit, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessorany balance thereof, shall be returned to Sublessee or or, at Sublessor's option, to the last assignee, if any, assignee of Sublessee's interest hereunder, at the expiration of the term of this Sublease and after Sublessee has vacated the Premises. In the event of termination of Sublessor's interest in this Sublease, Sublessor's shall transfer all deposits then held by Sublessor under this Section to Sublessor's successor in interest, whereupon Sublessee agrees to release Sublessor from all liability for the return of such deposit or the accounting thereof.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Cytokinetics Inc)

Security Deposit. Sublessee Together with its execution and delivery of this Sublease, Subtenant shall deposit with Sublessor upon execution of Sublandlord, as the security deposit under 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")) cash in the amount of $47,402.22. If Sublessee fails to pay rent or other charges when due The Security Deposit will be held in a segregated, interest-bearing account as security for Subtenant's performance of its obligations under this Sublease, or fails for and during the Term. The Security Deposit with all interest earned thereon shall be returned to perform any Subtenant within thirty (30) days after the termination of its other obligations hereunder, Sublessor may use or apply all or any this Sublease except that portion of the Security Deposit for required to restore 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 breachSublet Premises in accordance with Section 11(b) below ("Restoration Security"). If Sublessor so uses any Any remaining portion of the Restoration Security Deposit, Sublessee shall, within ten together with all interest earned thereon shall be returned to Subtenant upon the earlier of (10i) one-hundred eighty (180) days after the termination of this Sublease or the date that the Sublet Premises are restored to in accordance with Section 11(b) below, provided there exists no breach of any undertaking of Subtenant and provided that all Surrender costs as described in Paragraph 11(b) have been paid in full. If all or any part of the Security Deposit is applied to an obligation of Subtenant hereunder during the Term, Subtenant shall within five (5) business days, upon written demand request by SublessorSublandlord, 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 Subtenant shall not be required have the right to keep the Security Deposit separate from its general accounts, and shall have no obligation call upon Sublandlord 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 Sublessor. Within ten (10) days after the Term has expiredto cure any default, fulfill any obligation, or Sublessee has vacated the Premisesmake any Base Rent or operating cost payment of Subtenant, 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, but such use shall be returned to Sublessee or to solely in the last assignee, if any, discretion of Sublessee's interest hereunderSublandlord.

Appears in 1 contract

Samples: Sublease (Viacell 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. Upon execution hereof, Sublessee shall deposit with ---------------- Sublessor upon execution a certificate of this Sublease deposit ("CD") issued by a by a money-center bank (a bank which accepts deposits, maintains accounts, has a local Silicon Valley office, and whose deposits are insured by the sum of Twenty FDIC) in an amount equal to three (3) months' Base Rent, or One Hundred Fourteen Thousand Two Eight Hundred Fifty Twenty- Nine and 40/100ths 80/Dollars ($20,250.40) 114,829.80), as security for Sublesseethe performance by Sublessee of the terms and conditions of this Sublease. The CD shall be for a period not less than one hundred eighty (180) days, issued in Sublessor's faithful performance of Sublessee's obligations hereunder name and renewable by Sublessor ("Security Deposit")but not beyond the Term hereof) on the applicable renewal date. 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 CD 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 DepositCD, then Sublessee shall, within ten (10) days after written demand by therefor, deposit cash with Sublessor in the amount required to restore Sublessor, restore the Security Deposit 's security 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 the Security Deposit separate from its general accounts, and shall have no obligation or liability liable for payment of any penalties or lost interest on due to Sublessor's draw upon the Security DepositCD pursuant to the provisions hereof; provided, however, that all interest thereon shall accrue to the benefit of Sublessee if Sublessor does not draw upon the CD pursuant to the provisions hereof. In Within five (5) days after demand by Sublessor, Sublessee shall increase the event Sublessor assigns its interest in amount of the CD to an amount not less than three (3) months' Rent then payable under the terms of the Sublease. Upon the expiration of this Sublease, Sublessor shall deliver return the CD to its assignee Sublessee, or so much of the Security Deposit CD 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 cure Sublessee's defaults. Notwithstanding anything to the last assigneecontrary contained in this Lease, if anyat any time during the Term that Sublessee completes a financing raising not less than Ten Million Dollars ($ 10,000,000.00), provided that Sublessee has not been in default prior to such date, beyond applicable cure periods, of any obligation to pay money hereunder, Sublessee shall so notify Sublessor in writing of the completion of such financing and provide such reasonable verification as Sublessor shall require. Upon the next CD renewal date, Sublessor shall draw down the sum of Thirty-Eight Thousand Two Hundred Seventy-Six and 60/100 Dollars ($38,276.60) and promptly return such sum to Sublessee. Sublessor shall "roll over" the remaining CD sum (and all interest thereon) for the remainder of the Term as Sublessor's interest hereundersecurity pursuant to the provisions of this Paragraph.

Appears in 1 contract

Samples: Lease Agreement (Clarent Corp/Ca)

Security Deposit. Sublessee shall deposit with Sublessor upon On the date of execution of this Sublease by Sublessee, Sublessee at its sole cost and expense shall deliver to Sublessor, in a form and from a financial institution acceptable to Sublessor, an irrevocable, unconditional standby letter of credit in the sum amount of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars $36,667.00 ($20,250.40) the "Letter of Credit"), as security for Sublessee's the full and faithful performance and observance by Sublessee of Sublessee's covenants and obligations hereunder under this Sublease (the "Security Deposit"). If Sublessee fails shall be solely responsible for all costs and expenses of obtaining, amending, renewing, replacing and/or transferring such Letter of Credit. The Letter of Credit shall have an expiration date not earlier than thirty (30) days following the expiration of the Term of this Sublease. Upon the occurrence of an Event of Default, including, but not limited to, the non-payment of Rent specified in Paragraph 4 hereof, Sublessor may, without giving notice to pay rent Sublessee, draw upon the Letter of Credit to the extent required for the payment of any Rent or any other charges when due under sums 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 default in respect of any of the terms, covenants and conditions of this Sublease, including, but not limited to, any damages or fails to perform any deficiency in the reletting of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent Premises, whether such damages or deficiency accrue before or after summary proceedings or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated re-entry 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 breachSublessor. If Sublessor so uses draws upon the Letter of Credit to cure any portion of the Security Depositdefault, Sublessee shall, shall cause the Letter of Credit to be restored to its original amount and failure to do so within ten (10) days after receiving written demand notice from Sublessor shall be deemed an Event of Default hereunder. Sublessee understands that its potential liability under this Sublease is not limited to the amount of the Security Deposit. Use of said Security Deposit by Sublessor shall not constitute a waiver, but is in addition to other remedies to Sublessor under this Sublease and under law. In the event of any transfer of Sublessor's interest in the Premises, restore Sublessor shall either return the Security Deposit to Sublessee or assign its interest in the Security Deposit to the full amount originally deposited, transferee or assignee and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall thereupon be released by Sublessee from all liability for the return or payment thereof; and Sublessee shall look solely to the new sublessor for the return or payment of the same; and the provisions hereof shall apply to every transfer or assignment made of the same to a new sublessor. Sublessee shall not be required assign or encumber or attempt to keep assign or encumber the Security Deposit separate from and neither Sublessor nor its general accounts, and shall have no obligation successors 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 bound by any such assignment, encumbrance, attempted assignment or to the last assignee, if any, of Sublessee's interest hereunderattempted encumbrance.

Appears in 1 contract

Samples: BG Medicine, Inc.

Security Deposit. Upon execution of this Sublease, Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty One Hundred Ten Thousand Two Three Hundred Fifty Seventy and 40/100ths 75/100 Dollars ($20,250.40110,370.75) 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 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 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 thirty (30) days after the expiration of the term hereof or to thirty (30) days after the last assigneedate Sublessee has vacated the Premises, if any, of Sublessee's interest hereunderwhichever is later.

Appears in 1 contract

Samples: Sublease Agreement (Trident Microsystems Inc)

Security Deposit. On or before the Commencement Date of this Lease, Sublessee shall deposit with Sublessor upon execution the Security Deposit or, at Tenant's option, Tenant may secure a Certificate of Deposit made payable to Sublessor in the amount of such Security Deposit. Said sum shall be held by Sublessor or shall remain in such Certificate of Deposit, as security for the faithful performance by Sublessee of all the terms, covenants, and conditions of this Sublease to be kept and performed by Sublessee during 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")term hereof. If Sublessee fails defaults with respect to pay rent or other charges when due under any provisions 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 (but shall not be required to) use, apply, retain (or apply in the case of a Certificate of Deposit, redeem) 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 amount which Sublessor may spend, become obligated to spend by reason of Sublessee's default or breachdefault, 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 breachSublessee default. If Sublessor so uses any portion of the Security Depositsaid deposit is so used or applied, Sublessee shall, shall within ten five (105) days after written demand by Sublessortherefore, deposit cash with Sublessor (or replenish the Certificate of Deposit) 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 material breach of this SubleaseLease. If the Security Deposit shall be cash, Sublessor shall not be required to keep the this Security Deposit separate from its general accountsfunds, and Sublessee shall have no obligation or liability for payment of not be entitled to interest on such deposit. Subject to the foregoing, if Sublessee shall fully and faithfully perform every provision of this Sublease to be performed by it, the Security DepositDeposit or any balance thereof shall be returned to Sublessee (or, at Sublessor's option, to the last assignee of Sublessor's interest hereunder) at the expiration of the Lease term. In the event Sublessor assigns its of termination of Sublessor's interest in this Sublease, Sublessor shall deliver transfer said deposit 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 's successor 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 hereunderinterest.

Appears in 1 contract

Samples: Jb Oxford Holdings Inc

Security Deposit. Sublessee On the date of execution hereof, LESSEE shall deposit with Sublessor upon execution LESSOR, the amount equivalent to one month of this Sublease rent (the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40“Security Deposit”) as security for Sublessee's LESSEE’s faithful performance of Sublessee's its obligations hereunder hereunder. Furthermore, on October 1, 2009, LESSEE shall deposit with LESSOR the additional amount of US$303.58 ("three hundred three dollars 58/100) lawful currency of the United States of America, to be an integral part of the Security Deposit"). LESSOR may retain any amount with no obligation to return the same in case LESSOR applies said sum to comply with LESSEE’s failure to comply with its obligations under this Lease Agreement. 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 Agreement, Sublessor LESSOR 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 unpaidcharges in default, or for the payment of any other sum for to which Sublessor LESSOR may become obligated to pay by reason of Sublessee's default or breachLESSEE’s default, or to compensate LESSOR for any loss or damage sustained by Sublessor as a result which LESSOR may suffer in accordance to what is stipulated in Clause Fourth of Sublessee's default or breachthis agreement. If Sublessor so LESSOR uses all or any portion of the Security DepositDeposit to comply with the abovementioned failure, Sublessee LESSEE shall, within ten five (105) days after receipt of written demand by Sublessordemand, deposit cash with LESSOR in an amount sufficient to restore the Security Deposit to the full amount originally depositedstated above. At the expiration of the lease term, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep after LESSEE has vacated the Security Deposit separate from its general accountsLeased Property and LESSOR has received the Leased Property agreement, 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 LESSEE shall deliver to its assignee so much of LESSOR a non debt certificate issued by the Security Deposit as is then held by Sublessor. Within ten (10) days after public utility companies for each utility in 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, Leased Property and provided Sublessee is not then in default of any of complied with all its obligations hereunder, LESSOR shall return the Security DepositDeposit to LESSEE, or so much thereof as had has not theretofore been applied by SublessorLESSOR, shall be returned without payment of interest to Sublessee or to the last assignee, if any, of Sublessee's interest hereunderLESSEE.

Appears in 1 contract

Samples: Viasystems Group Inc

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)

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