{"component": "clause", "props": {"groups": [{"size": 665, "samples": [{"hash": "7FMsXr5Opn3", "uri": "/contracts/7FMsXr5Opn3#security-deposit", "label": "Sublease Agreement (Prometheus Biosciences, Inc.)", "score": 32.1348381042, "published": true}, {"hash": "6mMFCJ1oy52", "uri": "/contracts/6mMFCJ1oy52#security-deposit", "label": "Sublease Agreement (Prometheus Biosciences, Inc.)", "score": 32.0390129089, "published": true}, {"hash": "3MLTiYctq1J", "uri": "/contracts/3MLTiYctq1J#security-deposit", "label": "Lease (Prometheus Biosciences, Inc.)", "score": 31.6557159424, "published": true}], "snippet": "Concurrently with Tenant\u2019s delivery of this Lease, Tenant shall deposit with Landlord the sum, if any, stated in Item 9 of the Basic Lease Provisions, to be held by Landlord as security for the full and faithful performance of all of Tenant\u2019s obligations under this Lease (the \u201cSecurity Deposit\u201d). Landlord shall not be required to keep this Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on the Security Deposit. Subject to the last sentence of this Section, the Security Deposit shall be understood and agreed to be the property of Landlord upon Landlord\u2019s receipt thereof, and may be utilized by Landlord in its sole and absolute discretion towards the payment of all expenses by Landlord for which Tenant would be required to reimburse Landlord under this Lease. Upon any Event of Default by Tenant (as defined in Section 14.1), Landlord may, in its sole and absolute discretion, use or apply the whole or any part of the Security Deposit to pay any sum which Tenant is obligated to pay under this Lease including, but not limited to, sums that Landlord may reasonably expend or be required to expend by reason of the Event of Default by Tenant or any loss or damage that Landlord may suffer by reason of the Event of Default or costs incurred by Landlord in connection with the repair or restoration of the Premises pursuant to Section 15.3 of this Lease upon expiration or earlier termination of this Lease. In no event shall Landlord be obligated to apply the Security Deposit upon an Event of Default and Landlord\u2019s rights and remedies resulting from an Event of Default, including without limitation, Tenant\u2019s failure to pay Basic Rent, Tenant\u2019s Share of Operating Expenses or any other amount due to Landlord pursuant to this Lease, shall not be diminished or altered in any respect due to the fact that Landlord is holding the Security Deposit. If any portion of the Security Deposit is applied by Landlord as permitted by this Section, Tenant shall within five (5) business days after written demand by Landlord deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount. If Tenant fully performs its obligations under this Lease, the Security Deposit shall be returned to Tenant within thirty (30) days after the expiration of the Term, provided that Tenant agrees that Landlord may retain the Security Deposit to the extent and until such time as all amounts due from Tenant in accordance with this Lease have been determined (which determination shall not be unreasonably withheld, conditioned or delayed) and paid in full and Tenant agrees that Tenant shall have no claim against Landlord for Landlord\u2019s retaining such Security Deposit to the extent provided in this Section. Provided that no Event of Default has theretofore occurred under any provision of this Lease, Tenant shall have the right to have the Security Deposit reduced to the amount of One Hundred Twenty-Three Thousand One Hundred Eight Dollars ($123,108.00) by sending written request thereof to Landlord, which request shall be accompanied by Tenant\u2019s audited Statements demonstrating two (2) immediately prior consecutive years of positive net income for Tenant. Following such written request to Landlord, Tenant shall be credited in the amount of the difference between the amount of the Security Deposit stated in Item 9 of the Basic Lease Provisions and the reduced amount of Security Deposit set forth above, against Basic Rent and Operating Expenses next coming due under this Lease.", "snippet_links": [{"key": "delivery-of", "type": "clause", "offset": [27, 38]}, {"key": "tenant-shall", "type": "clause", "offset": [51, 63]}, {"key": "item-9", "type": "clause", "offset": [113, 119]}, {"key": "basic-lease-provisions", "type": "definition", "offset": [127, 149]}, {"key": "faithful-performance", "type": "clause", "offset": [203, 223]}, {"key": "all-of-tenant", "type": "definition", "offset": [227, 240]}, {"key": "under-this-lease", "type": "clause", "offset": [255, 271]}, {"key": "landlord-shall", "type": "clause", "offset": [298, 312]}, {"key": "general-funds", "type": "clause", "offset": [377, 390]}, {"key": "the-security-deposit", "type": "definition", "offset": [440, 460]}, {"key": "the-last-sentence", "type": "clause", "offset": [473, 490]}, {"key": "understood-and-agreed-to", "type": "clause", "offset": [538, 562]}, {"key": "property-of-landlord", "type": "clause", "offset": [570, 590]}, {"key": "upon-landlord", "type": "definition", "offset": [591, 604]}, {"key": "sole-and-absolute-discretion", "type": "definition", "offset": [663, 691]}, {"key": "payment-of", "type": "definition", "offset": [704, 714]}, {"key": "to-reimburse", "type": "definition", "offset": [775, 787]}, {"key": "event-of-default-by-tenant", "type": "clause", "offset": [824, 850]}, {"key": "section-141", "type": "clause", "offset": [866, 878]}, {"key": "not-limited", "type": "clause", "offset": [1071, 1082]}, {"key": "the-event", "type": "definition", "offset": [1166, 1175]}, {"key": "loss-or-damage", "type": "definition", "offset": [1204, 1218]}, {"key": "costs-incurred-by-landlord", "type": "clause", "offset": [1281, 1307]}, {"key": "in-connection-with", "type": "clause", "offset": [1308, 1326]}, {"key": "restoration-of-the-premises", "type": "clause", "offset": [1341, 1368]}, {"key": "section-153", "type": "clause", "offset": [1381, 1393]}, {"key": "termination-of-this-lease", "type": "definition", "offset": [1435, 1460]}, {"key": "in-no-event-shall", "type": "clause", "offset": [1462, 1479]}, {"key": "to-apply", "type": "clause", "offset": [1502, 1510]}, {"key": "upon-an-event-of-default", "type": "clause", "offset": [1532, 1556]}, {"key": "rights-and-remedies", "type": "clause", "offset": [1572, 1591]}, {"key": "resulting-from", "type": "definition", "offset": [1592, 1606]}, {"key": "including-without-limitation", "type": "clause", "offset": [1628, 1656]}, {"key": "failure-to-pay", "type": "definition", "offset": [1667, 1681]}, {"key": "basic-rent", "type": "clause", "offset": [1682, 1692]}, {"key": "share-of-operating-expenses", "type": "definition", "offset": [1703, 1730]}, {"key": "to-landlord", "type": "definition", "offset": [1755, 1766]}, {"key": "the-fact", "type": "clause", "offset": [1848, 1856]}, {"key": "days-after", "type": "definition", "offset": [2034, 2044]}, {"key": "written-demand", "type": "definition", "offset": [2045, 2059]}, {"key": "deposit-cash", "type": "clause", "offset": [2072, 2084]}, {"key": "original-amount", "type": "definition", "offset": [2162, 2177]}, {"key": "if-tenant", "type": "clause", "offset": [2179, 2188]}, {"key": "to-tenant", "type": "definition", "offset": [2277, 2286]}, {"key": "within-thirty", "type": "clause", "offset": [2287, 2300]}, {"key": "expiration-of-the-term", "type": "definition", "offset": [2321, 2343]}, {"key": "provided-that", "type": "definition", "offset": [2345, 2358]}, {"key": "tenant-agrees", "type": "clause", "offset": [2359, 2372]}, {"key": "to-the-extent", "type": "clause", "offset": [2419, 2432]}, {"key": "all-amounts-due", "type": "clause", "offset": [2456, 2471]}, {"key": "from-tenant", "type": "clause", "offset": [2472, 2483]}, {"key": "in-accordance-with", "type": "definition", "offset": [2484, 2502]}, {"key": "paid-in-full", "type": "definition", "offset": [2620, 2632]}, {"key": "no-claim", "type": "clause", "offset": [2674, 2682]}, {"key": "for-landlord", "type": "definition", "offset": [2700, 2712]}, {"key": "such-security", "type": "definition", "offset": [2725, 2738]}, {"key": "no-event-of-default", "type": "clause", "offset": [2801, 2820]}, {"key": "provision-of", "type": "clause", "offset": [2856, 2868]}, {"key": "right-to-have", "type": "clause", "offset": [2903, 2916]}, {"key": "written-request", "type": "definition", "offset": [3048, 3063]}, {"key": "audited-statements", "type": "clause", "offset": [3132, 3150]}, {"key": "positive-net-income", "type": "clause", "offset": [3212, 3231]}, {"key": "amount-of-security-deposit", "type": "clause", "offset": [3451, 3477]}, {"key": "rent-and-operating-expenses", "type": "clause", "offset": [3509, 3536]}], "hash": "80444a0abbad3a7ac72fa6778f653dac", "id": 1}, {"size": 490, "samples": [{"hash": "laghryVLA3f", "uri": "/contracts/laghryVLA3f#security-deposit", "label": "Lease to Own Agreement", "score": 22.0828208923, "published": true}, {"hash": "3G9X1WuUFvw", "uri": "/contracts/3G9X1WuUFvw#security-deposit", "label": "Lease to Own Agreement", "score": 22.0787124634, "published": true}], "snippet": "Upon execution of this Agreement, Tenant shall deposit with Landlord the sum of $ , which shall be held by Landlord as a security deposit for the faithful performance by Tenant of his obligations hereunder. This security deposit shall be returned to Tenant upon termination of this Lease and surrender by Tenant of the Leased Premises, subject, but not limited, to the following conditions:\n(a) There shall be no damage to the Leased Premises beyond ordinary wear and tear;\n(b) The Leased Premises, including all appurtenances, shall be clean, and the refrigerator shall be defrosted;\n(c) All rent due and payable under the terms of this Lease shall be paid to Landlord;\n(d) All keys shall have been returned to the Landlord;\n(e) All debris and rubbish and discards shall have been placed in proper rubbish containers;\n(f) All late charges and service charges for bad checks, if any, shall have been paid; and\n(g) Tenant shall have left a forwarding address with the Landlord. The security deposit, less any deduction, with an itemized list of damages, shall be returned to Tenant within 30 days of any termination of this Lease. IT IS SPECIFICALLY UNDERSTOOD THAT THE AFORESAID SECURITY DEPOSIT SHALL NOT BE CONSIDERED PREPAID RENT AND SHALL NOT BE APPLIED BY THE TENANT ON THE LAST MONTH\u2019S RENT.", "snippet_links": [{"key": "execution-of-this-agreement", "type": "clause", "offset": [5, 32]}, {"key": "tenant-shall", "type": "clause", "offset": [34, 46]}, {"key": "sum-of", "type": "clause", "offset": [73, 79]}, {"key": "by-landlord", "type": "clause", "offset": [104, 115]}, {"key": "a-security-deposit", "type": "clause", "offset": [119, 137]}, {"key": "performance-by-tenant", "type": "clause", "offset": [155, 176]}, {"key": "his-obligations", "type": "clause", "offset": [180, 195]}, {"key": "to-tenant", "type": "definition", "offset": [247, 256]}, {"key": "termination-of-this-lease", "type": "definition", "offset": [262, 287]}, {"key": "surrender-by-tenant", "type": "clause", "offset": [292, 311]}, {"key": "not-limited", "type": "clause", "offset": [349, 360]}, {"key": "damage-to-the-leased-premises", "type": "clause", "offset": [413, 442]}, {"key": "ordinary-wear-and-tear", "type": "definition", "offset": [450, 472]}, {"key": "due-and-payable", "type": "clause", "offset": [598, 613]}, {"key": "terms-of", "type": "definition", "offset": [624, 632]}, {"key": "to-landlord", "type": "definition", "offset": [658, 669]}, {"key": "the-landlord", "type": "clause", "offset": [712, 724]}, {"key": "late-charges", "type": "definition", "offset": [827, 839]}, {"key": "charges-for", "type": "clause", "offset": [852, 863]}, {"key": "bad-checks", "type": "clause", "offset": [864, 874]}, {"key": "forwarding-address", "type": "definition", "offset": [939, 957]}, {"key": "the-security-deposit", "type": "definition", "offset": [977, 997]}, {"key": "any-termination", "type": "clause", "offset": [1099, 1114]}, {"key": "prepaid-rent", "type": "clause", "offset": [1220, 1232]}, {"key": "by-the-tenant", "type": "clause", "offset": [1258, 1271]}, {"key": "last-month", "type": "definition", "offset": [1279, 1289]}], "hash": "b64e534b48f0fe2b31822c1d6e3558fc", "id": 2}, {"size": 487, "samples": [{"hash": "aRwoWmNat4l", "uri": "/contracts/aRwoWmNat4l#security-deposit", "label": "Commercial Lease Addendum (Integral Systems Inc /Md/)", "score": 21.0, "published": true}, {"hash": "aHKNXXKrmyv", "uri": "/contracts/aHKNXXKrmyv#security-deposit", "label": "Lease Agreement (Integral Systems Inc /Md/)", "score": 21.0, "published": true}, {"hash": "4v1gEa5c6r7", "uri": "/contracts/4v1gEa5c6r7#security-deposit", "label": "Lease Agreement (Integral Systems Inc /Md/)", "score": 21.0, "published": true}], "snippet": "The Tenant shall keep on deposit with the Landlord at all times during the term of this Lease the Security Deposit specified on the Lease Lease Agreement Facing Page hereof as security for the payment by the Tenant of the Rent and any other sums due under this Lease and for the faithful performance of all the terms, conditions, and covenants of this Lease, it being expressly understood that the Security Deposit shall not be considered advance payment of Rent or a measure of Landlord\u2019s damages in the case of default by Tenant. Security Deposit is due in full prior to Tenant\u2019s possession of the Premises. Any interest earned on the Security Deposit shall be retained by Landlord. If an event of a default set forth in Section 35.1 occurs, the Landlord may (but shall not be required to) use any such deposit, or so much thereof as necessary in payment of any Rent or any other sums due under this Lease in default, in reimbursement of any expense incurred by the Landlord, and to repair any damage or to clean, paint, carpet and fumigate the Leased Premises after termination of possession by Tenant. In such event the Tenant shall on written demand of the Landlord forthwith remit to the Landlord a sufficient amount in cash to restore such deposit to its original amount. If such deposit has not been utilized as aforesaid, such deposit, or as much thereof as has not been utilized for such purposes, shall be refunded to the Tenant upon full performance of this Lease by the Tenant. Landlord shall have the right to commingle such deposit with other funds of the Landlord, and such deposit need not be kept in an escrow or other segregated account. Landlord shall deliver the funds deposited herein by the Tenant to any purchaser of the Landlord\u2019s interest in the Leased Premises in the event such interest be sold, and thereupon, the Landlord shall be discharged from further liability with respect to such deposit.", "snippet_links": [{"key": "the-tenant-shall", "type": "clause", "offset": [0, 16]}, {"key": "on-deposit", "type": "definition", "offset": [22, 32]}, {"key": "at-all-times", "type": "definition", "offset": [51, 63]}, {"key": "during-the-term-of-this-lease", "type": "clause", "offset": [64, 93]}, {"key": "the-security-deposit", "type": "definition", "offset": [94, 114]}, {"key": "lease-agreement", "type": "definition", "offset": [138, 153]}, {"key": "payment-by-the-tenant", "type": "clause", "offset": [193, 214]}, {"key": "the-rent", "type": "clause", "offset": [218, 226]}, {"key": "sums-due", "type": "definition", "offset": [241, 249]}, {"key": "under-this-lease", "type": "clause", "offset": [250, 266]}, {"key": "faithful-performance", "type": "clause", "offset": [279, 299]}, {"key": "the-terms", "type": "definition", "offset": [307, 316]}, {"key": "covenants-of", "type": "clause", "offset": [334, 346]}, {"key": "payment-of-rent", "type": "definition", "offset": [447, 462]}, {"key": "of-landlord", "type": "clause", "offset": [476, 487]}, {"key": "in-the-case", "type": "clause", "offset": [498, 509]}, {"key": "default-by-tenant", "type": "definition", "offset": [513, 530]}, {"key": "to-tenant", "type": "definition", "offset": [570, 579]}, {"key": "possession-of-the-premises", "type": "clause", "offset": [582, 608]}, {"key": "interest-earned", "type": "clause", "offset": [614, 629]}, {"key": "by-landlord", "type": "clause", "offset": [672, 683]}, {"key": "event-of", "type": "definition", "offset": [691, 699]}, {"key": "a-default", "type": "definition", "offset": [700, 709]}, {"key": "the-landlord-may", "type": "clause", "offset": [744, 760]}, {"key": "in-payment", "type": "clause", "offset": [846, 856]}, {"key": "in-default", "type": "clause", "offset": [908, 918]}, {"key": "expense-incurred", "type": "definition", "offset": [944, 960]}, {"key": "to-repair", "type": "clause", "offset": [982, 991]}, {"key": "the-leased-premises", "type": "clause", "offset": [1043, 1062]}, {"key": "possession-by-tenant", "type": "clause", "offset": [1084, 1104]}, {"key": "written-demand", "type": "definition", "offset": [1140, 1154]}, {"key": "remit-to", "type": "definition", "offset": [1181, 1189]}, {"key": "original-amount", "type": "definition", "offset": [1262, 1277]}, {"key": "full-performance", "type": "clause", "offset": [1445, 1461]}, {"key": "right-to-commingle", "type": "clause", "offset": [1515, 1533]}, {"key": "other-funds", "type": "clause", "offset": [1552, 1563]}, {"key": "segregated-account", "type": "clause", "offset": [1637, 1655]}, {"key": "funds-deposited", "type": "clause", "offset": [1684, 1699]}, {"key": "in-the-event", "type": "clause", "offset": [1788, 1800]}, {"key": "the-landlord-shall", "type": "clause", "offset": [1839, 1857]}, {"key": "further-liability", "type": "clause", "offset": [1877, 1894]}, {"key": "with-respect-to", "type": "clause", "offset": [1895, 1910]}], "hash": "0161ea7add4c8a2039fc022b64cc6f8b", "id": 3}, {"size": 477, "samples": [{"hash": "8rjbSjSclnd", "uri": "/contracts/8rjbSjSclnd#security-deposit", "label": "Annual Report", "score": 23.635181427, "published": true}, {"hash": "1bHbcUFr1fL", "uri": "/contracts/1bHbcUFr1fL#security-deposit", "label": "Form 10 K/A", "score": 23.635181427, "published": true}, {"hash": "8eUlPUMhQhs", "uri": "/contracts/8eUlPUMhQhs#security-deposit", "label": "Lease Agreement (Staar Surgical Company)", "score": 19.0, "published": true}], "snippet": "Lessee shall deposit with Lessor upon Lessee's execution hereof the Security Deposit set forth in Paragraph 1.7 as security for Lessee's faithful performance of Lessee's obligations under this Lease. If Lessee fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under this Lease (as defined in Paragraph 13.1), Lessor may use, apply or retain all or any portion of said Security Deposit for the payment of any amount due Lessor or to reimburse or compensate Lessor for any liability, cost, expense, loss or damage (including attorneys' fees) which Lessor may suffer or incur by reason thereof. If Lessor uses or applies all or any portion of said Security Deposit, Lessee shall within ten (10) days after written request therefore deposit monies with Lessor sufficient to restore said Security Deposit to the full amount required by this Lease. Any time the Base Rent increases during the term of this Lease, Lessee shall, upon written request from Lessor, deposit additional monies with Lessor as an addition to the Security Deposit so that the total amount of the Security Deposit shall 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 1.5. Lessor shall not be required to keep all or any part of the Security Deposit separate from its general accounts. Lessor shall, at the expiration or earlier termination of the term hereof and after Lessee has vacated the Premises, return to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest herein), that portion of the Security Deposit not used or applied by Lessor. Unless otherwise expressly agreed in writing by Lessor, no part of the Security Deposit shall be considered to be held in trust, to bear interest or other increment for its use, or to be prepayment for any monies to be paid by Lessee under this Lease.", "snippet_links": [{"key": "lessee-shall", "type": "clause", "offset": [0, 12]}, {"key": "the-security-deposit", "type": "definition", "offset": [64, 84]}, {"key": "faithful-performance", "type": "clause", "offset": [137, 157]}, {"key": "of-lessee", "type": "clause", "offset": [158, 167]}, {"key": "fails-to-pay", "type": "clause", "offset": [210, 222]}, {"key": "other-rent", "type": "definition", "offset": [236, 246]}, {"key": "defaults-under-this-lease", "type": "clause", "offset": [286, 311]}, {"key": "payment-of-any-amount-due", "type": "clause", "offset": [428, 453]}, {"key": "to-reimburse", "type": "definition", "offset": [464, 476]}, {"key": "loss-or-damage", "type": "definition", "offset": [532, 546]}, {"key": "days-after", "type": "definition", "offset": [727, 737]}, {"key": "written-request", "type": "definition", "offset": [738, 753]}, {"key": "deposit-monies", "type": "clause", "offset": [764, 778]}, {"key": "required-by", "type": "definition", "offset": [854, 865]}, {"key": "any-time", "type": "definition", "offset": [878, 886]}, {"key": "base-rent-increases", "type": "clause", "offset": [891, 910]}, {"key": "during-the-term-of-this-lease", "type": "clause", "offset": [911, 940]}, {"key": "total-amount", "type": "definition", "offset": [1079, 1091]}, {"key": "at-all-times", "type": "definition", "offset": [1122, 1134]}, {"key": "initial-security-deposit", "type": "clause", "offset": [1197, 1221]}, {"key": "initial-base-rent", "type": "clause", "offset": [1235, 1252]}, {"key": "general-accounts", "type": "definition", "offset": [1376, 1392]}, {"key": "termination-of-the-term", "type": "clause", "offset": [1437, 1460]}, {"key": "the-premises", "type": "clause", "offset": [1497, 1509]}, {"key": "to-lessee", "type": "definition", "offset": [1518, 1527]}, {"key": "by-lessor", "type": "clause", "offset": [1670, 1679]}, {"key": "in-writing", "type": "definition", "offset": [1715, 1725]}, {"key": "held-in-trust", "type": "clause", "offset": [1795, 1808]}, {"key": "by-lessee", "type": "clause", "offset": [1905, 1914]}], "hash": "b41b72d29134a1f31c841e4b9fd6835e", "id": 4}, {"size": 470, "samples": [{"hash": "l6AvWSoU5e", "uri": "/contracts/l6AvWSoU5e#security-deposit", "label": "Standard Lease Agreement", "score": 35.5968704224, "published": true}, {"hash": "6Vrw5YGhioU", "uri": "/contracts/6Vrw5YGhioU#security-deposit", "label": "Standard Lease Agreement", "score": 35.57289505, "published": true}, {"hash": "ite7d3DQHHy", "uri": "/contracts/ite7d3DQHHy#security-deposit", "label": "Standard Lease Agreement", "score": 35.568901062, "published": true}], "snippet": "As part of this Agreement: (check one)", "snippet_links": [{"key": "this-agreement", "type": "clause", "offset": [11, 25]}, {"key": "check-one", "type": "clause", "offset": [28, 37]}], "hash": "388b5ed341c986bedc6226323b13a2cc", "id": 5}, {"size": 438, "samples": [{"hash": "bBfiKmpwFKG", "uri": "/contracts/bBfiKmpwFKG#security-deposit", "label": "Lease Agreement (Immudyne, Inc.)", "score": 21.9267616272, "published": true}, {"hash": "fUm8pSkjQwn", "uri": "/contracts/fUm8pSkjQwn#security-deposit", "label": "Lease Agreement (Accufacts Pre Employment Screening Inc)", "score": 18.0, "published": true}, {"hash": "ddbh0rEHD00", "uri": "/contracts/ddbh0rEHD00#security-deposit", "label": "Lease (Scolr Inc)", "score": 18.0, "published": true}], "snippet": "Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease. Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants and conditions of this Lease to be kept and performed by Tenant and not as an advance rental deposit or as a measure of Landlord's damage in case of Tenant's default. If Tenant defaults with respect to any provision of this Lease, Landlord may use any part of the Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion is so used, Tenant shall within five (5) days after written demand therefor, deposit with Landlord an amount sufficient to restore the Security Deposit to its original amount and Tenant's failure to do so shall be a material breach of this Lease. Except to such extent, if any, as shall be required by law, Landlord shall not be required to keep the Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant at such time after termination of this Lease when Landlord shall have determined that all of Tenant's obligations under this Lease have been fulfilled.", "snippet_links": [{"key": "tenant-shall", "type": "clause", "offset": [0, 12]}, {"key": "the-security-deposit", "type": "definition", "offset": [21, 41]}, {"key": "the-execution", "type": "clause", "offset": [61, 74]}, {"key": "by-landlord", "type": "clause", "offset": [113, 124]}, {"key": "performance-by-tenant", "type": "clause", "offset": [154, 175]}, {"key": "the-terms", "type": "definition", "offset": [183, 192]}, {"key": "conditions-of-this", "type": "clause", "offset": [208, 226]}, {"key": "performed-by-tenant", "type": "clause", "offset": [248, 267]}, {"key": "rental-deposit", "type": "clause", "offset": [290, 304]}, {"key": "of-landlord", "type": "clause", "offset": [321, 332]}, {"key": "in-case-of", "type": "clause", "offset": [342, 352]}, {"key": "tenant-defaults", "type": "clause", "offset": [374, 389]}, {"key": "with-respect-to", "type": "clause", "offset": [390, 405]}, {"key": "provision-of", "type": "clause", "offset": [410, 422]}, {"key": "payment-of", "type": "definition", "offset": [493, 503]}, {"key": "in-default", "type": "clause", "offset": [530, 540]}, {"key": "to-compensate", "type": "clause", "offset": [663, 676]}, {"key": "other-loss-or-damage", "type": "clause", "offset": [694, 714]}, {"key": "days-after", "type": "definition", "offset": [828, 838]}, {"key": "written-demand", "type": "definition", "offset": [839, 853]}, {"key": "original-amount", "type": "definition", "offset": [946, 961]}, {"key": "failure-to", "type": "clause", "offset": [975, 985]}, {"key": "breach-of-this", "type": "clause", "offset": [1012, 1026]}, {"key": "required-by-law", "type": "clause", "offset": [1077, 1092]}, {"key": "landlord-shall", "type": "clause", "offset": [1094, 1108]}, {"key": "general-funds", "type": "clause", "offset": [1172, 1185]}, {"key": "interest-on", "type": "definition", "offset": [1223, 1234]}, {"key": "to-tenant", "type": "definition", "offset": [1409, 1418]}, {"key": "termination-of-this-lease", "type": "definition", "offset": [1438, 1463]}, {"key": "all-of-tenant", "type": "definition", "offset": [1505, 1518]}, {"key": "under-this-lease", "type": "clause", "offset": [1533, 1549]}], "hash": "6b0cb4fab35dc8b64201983d2e819477", "id": 6}, {"size": 323, "samples": [{"hash": "cv2CzcpX8q3", "uri": "/contracts/cv2CzcpX8q3#security-deposit", "label": "Warehouse/Industrial Lease Agreement", "score": 29.3408622742, "published": true}, {"hash": "hQjiHt3WENE", "uri": "/contracts/hQjiHt3WENE#security-deposit", "label": "Warehouse/Industrial Lease Agreement (Corsair Components, Inc.)", "score": 23.0889797211, "published": true}], "snippet": "Concurrently with Tenant\u2019s execution of this Lease, Tenant shall deposit with Landlord the Security Deposit specified in the Basic Lease Information as security for the full and faithful performance of each and every term, covenant and condition of this Lease. Landlord may use, apply or retain the whole or any part of the Security Deposit as may be reasonably necessary (a) to remedy any Default by Tenant under this Lease, (b) to repair damage to the Premises caused by Tenant, (c) to clean the Premises upon termination of this Lease, (d) to reimburse Landlord for the payment of any amount which Landlord may reasonably spend or be required to spend by reason of Tenant\u2019s Default, and (e) to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant\u2019s Default. Should Tenant faithfully and fully comply with all of the terms, covenants and conditions of this Lease, within thirty (30) days following the expiration of the Term, the Security Deposit or any balance thereof shall be returned to Tenant or, at the option of Landlord, to the last assignee of Tenant\u2019s interest in this Lease. Landlord shall not be required to keep the Security Deposit separate from its general funds and Tenant shall not be entitled to any interest on such deposit. If Landlord so uses or applies all or any portion of said deposit, within five (5) business days after written demand therefor Tenant shall deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the full extent of the above amount, and Tenant\u2019s failure to do so shall be a default under this Lease. In the event Landlord transfers its interest in this Lease, Landlord shall transfer the then remaining amount of the Security Deposit to Landlord\u2019s successor in interest, and thereafter Landlord shall have no further liability to Tenant with respect to such Security Deposit.", "snippet_links": [{"key": "tenant-shall", "type": "clause", "offset": [52, 64]}, {"key": "the-security-deposit", "type": "definition", "offset": [87, 107]}, {"key": "basic-lease-information", "type": "definition", "offset": [125, 148]}, {"key": "faithful-performance", "type": "clause", "offset": [178, 198]}, {"key": "condition-of", "type": "clause", "offset": [236, 248]}, {"key": "reasonably-necessary", "type": "clause", "offset": [351, 371]}, {"key": "default-by-tenant", "type": "definition", "offset": [390, 407]}, {"key": "under-this-lease", "type": "clause", "offset": [408, 424]}, {"key": "damage-to-the-premises", "type": "clause", "offset": [440, 462]}, {"key": "caused-by", "type": "clause", "offset": [463, 472]}, {"key": "termination-of-this-lease", "type": "definition", "offset": [512, 537]}, {"key": "to-reimburse", "type": "definition", "offset": [543, 555]}, {"key": "payment-of", "type": "definition", "offset": [573, 583]}, {"key": "of-tenant", "type": "clause", "offset": [665, 674]}, {"key": "to-compensate", "type": "clause", "offset": [694, 707]}, {"key": "other-loss-or-damage", "type": "clause", "offset": [725, 745]}, {"key": "should-tenant", "type": "definition", "offset": [803, 816]}, {"key": "comply-with", "type": "definition", "offset": [838, 849]}, {"key": "the-terms", "type": "definition", "offset": [857, 866]}, {"key": "conditions-of-this", "type": "clause", "offset": [882, 900]}, {"key": "within-thirty", "type": "clause", "offset": [908, 921]}, {"key": "following-the", "type": "definition", "offset": [932, 945]}, {"key": "expiration-of-the-term", "type": "definition", "offset": [946, 968]}, {"key": "to-tenant", "type": "definition", "offset": [1032, 1041]}, {"key": "the-option", "type": "clause", "offset": [1049, 1059]}, {"key": "of-landlord", "type": "clause", "offset": [1060, 1071]}, {"key": "in-this-lease", "type": "clause", "offset": [1115, 1128]}, {"key": "landlord-shall", "type": "clause", "offset": [1130, 1144]}, {"key": "general-funds", "type": "clause", "offset": [1208, 1221]}, {"key": "interest-on", "type": "definition", "offset": [1262, 1273]}, {"key": "days-after", "type": "definition", "offset": [1380, 1390]}, {"key": "written-demand", "type": "definition", "offset": [1391, 1405]}, {"key": "deposit-cash", "type": "clause", "offset": [1428, 1440]}, {"key": "failure-to", "type": "clause", "offset": [1564, 1574]}, {"key": "default-under", "type": "clause", "offset": [1592, 1605]}, {"key": "in-the-event", "type": "clause", "offset": [1618, 1630]}, {"key": "landlord-transfers", "type": "clause", "offset": [1631, 1649]}, {"key": "remaining-amount", "type": "definition", "offset": [1711, 1727]}, {"key": "to-landlord", "type": "definition", "offset": [1752, 1763]}, {"key": "successor-in-interest", "type": "clause", "offset": [1766, 1787]}, {"key": "no-further-liability", "type": "clause", "offset": [1824, 1844]}, {"key": "with-respect-to", "type": "clause", "offset": [1855, 1870]}, {"key": "such-security", "type": "definition", "offset": [1871, 1884]}], "hash": "9d7334a044ada1dc2cbd0d64d9353a76", "id": 7}, {"size": 281, "samples": [{"hash": "gcuWmxx5tp5", "uri": "/contracts/gcuWmxx5tp5#security-deposit", "label": "Lease Agreement (Plantronics Inc /Ca/)", "score": 21.0, "published": true}, {"hash": "5dWG1PYgszi", "uri": "/contracts/5dWG1PYgszi#security-deposit", "label": "Lease Agreement (Plantronics Inc /Ca/)", "score": 21.0, "published": true}, {"hash": "5M778toyDUF", "uri": "/contracts/5M778toyDUF#security-deposit", "label": "Lease Agreement (Plantronics Inc /Ca/)", "score": 21.0, "published": true}], "snippet": "The Lessee states that its Guarantor has executed the Guaranty with the Lessor, which guarantees all of the obligations the Lessee has assumed in the terms of this Lease and, upon signing this Agreement, Lessee shall deliver such Guaranty to the Lessor. Furthermore, Lessee shall deposit the Security Deposit with Lessor upon signing this Agreement. If Lessee does not fulfill any of its obligations under the Lease, Lessor may apply the Security Deposit on account of such obligation or to reimburse Lessor for any sum that Lessor may expend due to Lessee's default. If Lessor applies any part of the Security Deposit, Lessee, immediately after notice from Lessor, shall deposit with Lessor the amount so applied so that Lessor shall have the full Security Deposit available at all times during the Term of this Lease. Likewise, in case of Rent increases in terms of this Agreement, the Lessee shall immediately deposit to Lessor the amount that may be necessary in order for the Security Deposit to be equal to 2 (two) months of current Rent at all times during the Term of this Lease, provided that if Lessee complies with all the terms, covenants and conditions of this Lease, the Security Deposit (or any balance thereof) shall be returned to Lessee not later than forty-five (45) calendar days after the delivery of possession of the entire Leased Property to Lessor in accordance with the terms of this Agreement. Additionally, during each year of the Term of this Agreement or at Lessor\u2019s reasonable request in writing, the Lessee shall deliver to Lessor copy of the audited financial statements of Lessee and/or the Guarantor corresponding to the preceding year. Provided that if Lessor, based on such financial statements, reasonably and justifiably determines that due to the economic solvency of Lessee and/or the Guarantor its necessary to improve and/or substitute the Guaranty and/or the Security Deposit to fully guarantee Lessee\u2019s obligations derived from this Agreement, the Lessee shall improve and/or substitute, as the case may be, the Guaranty and/or the Security Deposit in accordance with the foregoing and within the 30 (thirty) days following to the notification in writing delivered by Lessor for said purpose.", "snippet_links": [{"key": "the-lessee", "type": "clause", "offset": [0, 10]}, {"key": "the-guaranty", "type": "clause", "offset": [50, 62]}, {"key": "the-obligations", "type": "clause", "offset": [104, 119]}, {"key": "the-terms", "type": "definition", "offset": [146, 155]}, {"key": "upon-signing", "type": "clause", "offset": [175, 187]}, {"key": "lessee-shall", "type": "clause", "offset": [204, 216]}, {"key": "to-the-lessor", "type": "clause", "offset": [239, 252]}, {"key": "the-security-deposit", "type": "definition", "offset": [288, 308]}, {"key": "obligations-under-the-lease", "type": "clause", "offset": [388, 415]}, {"key": "to-reimburse", "type": "definition", "offset": [488, 500]}, {"key": "to-lessee", "type": "definition", "offset": [547, 556]}, {"key": "after-notice", "type": "definition", "offset": [640, 652]}, {"key": "at-all-times", "type": "definition", "offset": [776, 788]}, {"key": "during-the-term-of-this-lease", "type": "clause", "offset": [789, 818]}, {"key": "in-case-of", "type": "clause", "offset": [830, 840]}, {"key": "rent-increases", "type": "definition", "offset": [841, 855]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [859, 882]}, {"key": "to-lessor", "type": "definition", "offset": [921, 930]}, {"key": "equal-to", "type": "definition", "offset": [1004, 1012]}, {"key": "current-rent", "type": "definition", "offset": [1031, 1043]}, {"key": "provided-that", "type": "definition", "offset": [1088, 1101]}, {"key": "conditions-of-this", "type": "clause", "offset": [1155, 1173]}, {"key": "days-after", "type": "definition", "offset": [1295, 1305]}, {"key": "possession-of-the", "type": "clause", "offset": [1322, 1339]}, {"key": "leased-property", "type": "clause", "offset": [1347, 1362]}, {"key": "in-accordance-with", "type": "definition", "offset": [1373, 1391]}, {"key": "agreement-or", "type": "definition", "offset": [1472, 1484]}, {"key": "request-in-writing", "type": "clause", "offset": [1508, 1526]}, {"key": "deliver-to", "type": "definition", "offset": [1545, 1555]}, {"key": "the-audited-financial-statements", "type": "definition", "offset": [1571, 1603]}, {"key": "of-lessee", "type": "clause", "offset": [1604, 1613]}, {"key": "the-guarantor", "type": "clause", "offset": [1621, 1634]}, {"key": "preceding-year", "type": "definition", "offset": [1656, 1670]}, {"key": "based-on", "type": "definition", "offset": [1697, 1705]}, {"key": "the-case", "type": "definition", "offset": [2036, 2044]}, {"key": "the-foregoing", "type": "clause", "offset": [2113, 2126]}, {"key": "notification-in-writing", "type": "clause", "offset": [2176, 2199]}, {"key": "by-lessor", "type": "clause", "offset": [2210, 2219]}], "hash": "4c440960a34a60e8502c48ad318fd426", "id": 10}, {"size": 291, "samples": [{"hash": "izxscIoDIFm", "uri": "/contracts/izxscIoDIFm#security-deposit", "label": "Sublease (Litronic Inc)", "score": 18.0, "published": true}, {"hash": "61zBqZuCIy8", "uri": "/contracts/61zBqZuCIy8#security-deposit", "label": "Sublease (Litronic Inc)", "score": 18.0, "published": true}, {"hash": "5CsmQG00QkG", "uri": "/contracts/5CsmQG00QkG#security-deposit", "label": "Sublease (Litronic Inc)", "score": 18.0, "published": true}], "snippet": "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.", "snippet_links": [{"key": "upon-execution", "type": "clause", "offset": [39, 53]}, {"key": "sum-of", "type": "clause", "offset": [75, 81]}, {"key": "faithful-performance", "type": "clause", "offset": [179, 199]}, {"key": "to-pay-rent", "type": "clause", "offset": [278, 289]}, {"key": "other-charges", "type": "definition", "offset": [293, 306]}, {"key": "under-this-sublease", "type": "clause", "offset": [316, 335]}, {"key": "other-obligations", "type": "definition", "offset": [368, 385]}, {"key": "the-security-deposit", "type": "definition", "offset": [446, 466]}, {"key": "the-payment", "type": "clause", "offset": [471, 482]}, {"key": "default-or-breach", "type": "clause", "offset": [641, 658]}, {"key": "loss-or-damage", "type": "definition", "offset": [671, 685]}, {"key": "by-sublessor", "type": "clause", "offset": [696, 708]}, {"key": "days-after", "type": "definition", "offset": [846, 856]}, {"key": "written-demand", "type": "definition", "offset": [857, 871]}, {"key": "failure-to", "type": "clause", "offset": [972, 982]}, {"key": "default-under", "type": "clause", "offset": [1008, 1021]}, {"key": "general-accounts", "type": "definition", "offset": [1116, 1132]}, {"key": "no-obligation", "type": "definition", "offset": [1149, 1162]}, {"key": "interest-on-the-security", "type": "clause", "offset": [1191, 1215]}, {"key": "in-the-event", "type": "clause", "offset": [1225, 1237]}, {"key": "deliver-to", "type": "definition", "offset": [1303, 1313]}, {"key": "after-the-term", "type": "clause", "offset": [1410, 1424]}, {"key": "the-premises", "type": "clause", "offset": [1463, 1475]}, {"key": "final-adjustment", "type": "clause", "offset": [1484, 1500]}, {"key": "pursuant-to-subsection", "type": "clause", "offset": [1501, 1523]}, {"key": "in-default", "type": "clause", "offset": [1613, 1623]}], "hash": "1008822d017e8ee56be0c1ef449255aa", "id": 8}, {"size": 288, "samples": [{"hash": "bI1ksOfxgd3", "uri": "/contracts/bI1ksOfxgd3#security-deposit", "label": "Lease Agreement (Dermira, Inc.)", "score": 25.6954135895, "published": true}, {"hash": "cLC7jImfdxa", "uri": "/contracts/cLC7jImfdxa#security-deposit", "label": "Lease Agreement (Dermira, Inc.)", "score": 25.6516094208, "published": true}, {"hash": "5212dUrhx0Q", "uri": "/contracts/5212dUrhx0Q#security-deposit", "label": "Lease Agreement (Dermira, Inc.)", "score": 25.5804252625, "published": true}], "snippet": "Upon execution of this Lease, Tenant shall deposit with Landlord the sum of Five Hundred Thousand Dollars ($500,000.00) or a Letter of Credit pursuant to the terms of Paragraph 4 (F)(1) below. Said sum shall be held by Landlord as a Security Deposit for the faithful performance by Tenant of all of the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, but not limited to, the provisions relating to the payment of rent and any of the monetary sums due herewith, Landlord may (but shall not be required to) use, apply or retain all or any part of this Security Deposit for the payment of any other amount which Landlord may spend by reason of Tenant\u2019s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant\u2019s default. If any portion of said Deposit is so used or applied, Tenant shall, within ten (10) days after written demand therefor accompanied by a reasonably detailed written explanation of the basis for Landlord\u2019s use of such funds, deposit cash with Landlord in the amount sufficient to restore the Security Deposit to its original amount. Tenant\u2019s failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep this Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on such Deposit. If the Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant (or at Landlord\u2019s option, to the last assignee of Tenant\u2019s interest hereunder) at the expiration of the Lease term and after Tenant has vacated the Premises less amounts retained to cover uncured defaults. In the event of termination of Landlord\u2019s interest in this lease, Landlord shall transfer said Deposit to Landlord\u2019s successor in interest whereupon Tenant agrees to release Landlord from liability for the return of such Deposit or the accounting therefor.\n(1) Tenant shall have the right to provide within 10 days upon the execution of this Lease Agreement, a Letter of Credit in lieu of a Security Deposit, provided the Letter of Credit is to be issued by a financial institution with a Standard & Poors rating of \u201cA\u201d or better with offices in either San Francisco, San Mateo or Santa \u2587\u2587\u2587\u2587\u2587 County, and in the Stated Amount, to be held by Landlord in accordance with the terms, provisions and conditions of this Lease. Tenant shall pay all expenses, points and/or fees incurred by Tenant in obtaining the Letter of Credit. In the event the issuer of the Letter of Credit no longer maintains a Standard & Poors rating of \u201cA\u201d or better, Landlord shall notify Tenant and Tenant shall within fifteen (15) business days thereafter issue a new Letter of Credit with a financial institution with a Standard & Poors rating of \u201cA\u201d or better. If Tenant fails to issue a replacement Letter of Credit with such 15-business day period, Landlord shall be entitled to draw upon the Letter of Credit if the credit rating or financial condition of the issuer of the Letter of Credit is no longer compliant with the requirements of this Paragraph 4(F). Following any such draw by Landlord on the Letter of Credit solely because of the deterioration of the creditworthiness of the issuer of the Letter of Credit, Landlord will disburse such Letter of Credit proceeds to Tenant provided (i) Tenant delivers to Landlord a replacement Letter of Credit from a financial institution with a Standard & Poors rating of \u201cA\u201d or better with offices in either San Francisco, San Mateo or Santa \u2587\u2587\u2587\u2587\u2587 County, and in favor of Landlord in a form, containing terms, issued by a lending institution, and drawable in a location all reasonably preapproved by Landlord within sixty (60) days after Landlord\u2019s draw thereon, (ii) at the time of Tenant\u2019s delivery of the replacement Letter of Credit, there exists no default with respect to any provisions of this Lease, and (iii) Tenant pays all of the fees and expenses charged by the issuer of the Letter of Credit in connection with such disbursement; provided, further, that if any of the three (3) foregoing conditions are not satisfied within such sixty (60) day period, the proceeds received from such draw shall constitute Landlord\u2019s property (and not Tenant\u2019s property or the property of the bankruptcy estate of Tenant) and Landlord shall then use, apply or retain all or any part of the proceeds for the purposes set forth in clauses (1) through (4) of the next paragraph. Tenant shall have the right to replace the Letter of Credit at any time provided it is with a financial institution that meets the qualifications set forth above. The Stated Amount shall be Five Hundred Thousand Dollars ($500,000.00). The Letter of Credit shall state that an authorized officer or other representative of Landlord may make demand on Landlord\u2019s behalf for the Stated 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 Landlord 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. Tenant 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 Landlord will expire prior to the date which is sixty (60) days after the last day of the Lease 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 (30) days prior to the expiration of the Letter of Credit, or (B) a default beyond applicable notice and cure periods occurs, or, without regard to notice and cure periods, there occurs a filing of a voluntary petition under Title 11 of the United States Code (i.e., the Bankruptcy Code), or Tenant otherwise becomes a debtor in any case or proceeding under the Bankruptcy Code, as now existing or hereinafter amended, Landlord may (but shall not be required to) draw upon all or any portion of the Stated Amount of the Letter of Credit to the extent reasonably required to cure such default (provided, however that the entire amount of the Letter of Credit may be drawn upon following any occurrence described in item (B) above), and the proceeds received from such draw shall constitute Landlord\u2019s property (and not Tenant\u2019s property or the property of the bankruptcy estate of Tenant) and Landlord shall, at its election, then use, apply or retain all or any part of the proceeds (1) for the payment of any sum which is in default, (2) for the payment of any other amount which Landlord may spend or become obligated to spend by reason of the default, (3) to compensate Landlord for any loss or damage which Landlord may suffer by reason of Tenant\u2019s default or (4) as prepaid rent to be applied against Tenant\u2019s next Rent obligations as they become due until the remaining proceeds are exhausted. If any portion of the Letter of Credit proceeds is so used or applied, Tenant shall, within ten (10) days after demand therefor, post an additional Letter of Credit in an amount to cause the aggregate amount of the unused proceeds and such new Letter of Credit to equal the then-applicable Stated Amount required in this Paragraph 4(F). Landlord shall not be required to keep any proceeds from the Letter of Credit separate from its general funds. Should Landlord sell its interest in the Premises during the Lease Term and if Landlord deposits with the purchaser thereof the Letter of Credit or any proceeds of the Letter of Credit, thereupon Landlord shall be discharged from any further liability with respect to the Letter of Credit and said proceeds and Tenant shall look solely to such transferee for the return of the Letter of Credit or any proceeds therefrom. The Letter of Credit or any remaining proceeds of the Letter of Credit held by Landlord after expiration of the Lease Term, after any deductions described in this Paragraph 4(F), shall be returned to Tenant or, at Landlord\u2019s option, to the last assignee of Tenant\u2019s interest hereunder, within sixty (60) days following the expiration of the Lease Term. The use, application or retention of the Letter of Credit, the proceeds or any portion thereof, shall not prevent Landlord from exercising any other rights or remedies provided under this Lease, it being intended that Landlord 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 Landlord may otherwise be entitled. No trust relationship is created herein between Landlord and Tenant with respect to the Letter of Credit. Landlord and Tenant 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 \u201csecurity deposit\u201d 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 \u201csecurity deposit\u201d 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 (\u201cSecurity Deposit Laws\u201d) 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 the Letter of Credit (or any proceeds thereof); or (b) controls Landlord\u2019s rights to draw on the Letter of Credit or apply the proceeds of the Letter of Credit to any amounts due under this Lease or any damages Landlord may suffer following termination of this Lease, then Tenant fully and irrevocably waives the benefits and protections of Section 1950.7 of the California Civil Code (except for subsection (b) of Section 1950.7 of the California Civil Code) as it relates to the Letter of Credit, it being agreed that Landlord may recover from the Letter of Credit (or its proceeds) all of Landlord\u2019s damages under this Lease and California law including, but not limited to, any damages accruing upon the termination of this Lease in accordance with this Lease and Section 1951.2 of the California Civil Code. Provided that no monetary Event of Default (as defined in Paragraph 22 below) has occurred during the Term and then exists and no other Event of Default then exists, Landlord agrees that Tenant may reduce the Security Deposit or the Letter of Credit to the sum of $250,000 after the 30th month of the Lease Term,", "snippet_links": [{"key": "upon-execution", "type": "clause", "offset": [0, 14]}, {"key": "tenant-shall", "type": "clause", "offset": [30, 42]}, {"key": "sum-of", "type": "clause", "offset": [69, 75]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [123, 141]}, {"key": "terms-of", "type": "definition", "offset": [158, 166]}, {"key": "paragraph-4", "type": "clause", "offset": [167, 178]}, {"key": "by-landlord", "type": "clause", "offset": [216, 227]}, {"key": "a-security-deposit", "type": "clause", "offset": [231, 249]}, {"key": "performance-by-tenant", "type": "clause", "offset": [267, 288]}, {"key": "conditions-of-this", "type": "clause", "offset": [325, 343]}, 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