Common use of Security Deposits; Prepaid Rents Clause in Contracts

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a form other than cash (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a form other than cash (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, Closing cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Depositssecurity deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing DateClosing, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a form other than cash (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, Closing cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Depositssecurity deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing Close of Escrow until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle the Buyer, as landlord, to draw on the Non-Cash Security Deposit.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, Prepaid rentals and other tenant Tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) required under Leasesthe Leases (the “Security Deposits”), if and to the extent that such deposits the Security Deposits are in either Seller’s actual the possession or control of Seller or its affiliates (or their respective agents, representatives and/or employees) and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which or otherwise returned to the Tenants, subject to confirmation by law or the terms of the Leases could be required to be paid or refunded to Residents or TenantsTenant Estoppel Certificates (defined below), shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing DateClosing, Buyer shall assume full responsibility for all security deposits Security Deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicableLeases). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits Security Deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, cause Buyer to be named as beneficiary under the deliver said Non-Cash Security Deposits. Deposits to Buyer, and Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In order to facilitate the event that naming of Buyer cannot be named the as beneficiary under the any and all such Non-Cash Security Deposits as after Closing (the necessity of which the Closing Dateparties hereto acknowledge), a cash escrow equal to the amount Seller will, upon Buyer’s request, execute any documentation that Buyer, any issuer of the any such Non-Cash Security Deposit will be established at the Closing until the and/or any applicable Tenant consider necessary to transfer and/or reissue said Non-Cash Security Deposits are reissued in Deposit to Buyer’s name. Prior to After Closing and until Buyer is so named as beneficiary under any such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit, Seller will draw upon such Non-Cash Security Deposit at the direction of and for the benefit of Buyer.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such deposits are in either Developed Land Seller’s actual possession or control and have not been otherwise applied by such Developed Land Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such AbatementsAbatements based on actual rents as set forth in the Rent Roll. In the event that any security deposits are in a form other than cash (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Developed Land Seller will, at Closing, cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, Buyer shall receive a credit at Closing for all prepaid rentals, damage, community fees and reimbursements, rents and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, . Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Tenant Leases (but only to the extent the same were credited to Buyer at Closing and are required to be refunded by the terms of such Leases or applicableTenant Leases). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at ClosingSeller’s sole cost and expense, at Closing cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In Deposits and, in the event that the Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing DateClose of Escrow, a cash escrow equal Seller shall deliver to the amount Buyer at Close of the Escrow all of such Non-Cash Security Deposit will be established at Deposits, together with the Closing until appropriate transfer forms duly executed as required to transfer the Non-Cash Security Deposits are reissued in Buyer’s namesame to Buyer along with any fees required to effectuate the transfer. Prior to such time of reissue, Buyer Seller shall be entitled required to draw from such cash escrow notify Buyer in the event the terms writing prior to expiration of the relevant lease entitle Buyer, as landlord, Inspection Period if any security deposits have been applied by Seller and Seller shall have no right to draw on apply any security deposits following the Non-Cash Security Depositexpiration of the Inspection Period.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leasestenant leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenantstenant leases, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing DateClosing, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants tenants under the Leases tenant leases (to the extent the same are required to be refunded by the terms of such Leases tenant leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, Closing use its reasonable efforts to cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In the event that the Buyer cannot be named the beneficiary under the Non-Cash Security Deposits or is otherwise unable to transfer any Non-Cash Security Deposits to Buyer one (1) day prior to Closing, then Seller shall deposit the original of any such Non-Cash Security Deposits into escrow one(1) day prior to Closing to be held pursuant to mutually satisfactory instructions providing for the release thereof to Seller in order to effectuate such transfer to Buyer or, as of requested by Buyer, to draw thereon if and when permitted by the Closing Date, a cash escrow equal lease pursuant to the amount of the which same was posted (“Non-Cash Security Deposit will be established at Obligations”). Notwithstanding anything to the Closing until the contrary, Seller hereby acknowledges and agrees that (a) Seller’s Non-Cash Security Deposit Obligations are a condition to closing, and (b) if Seller is unable to transfer any Non-Cash Security Deposits are reissued in Buyer’s name. Prior to Buyer one (1) day prior to Closing, Seller shall continue to use good faith reasonable efforts to transfer any such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security DepositDeposits to Buyer after Closing.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or TenantsTenant Leases, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing DateClosing, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Tenant Leases (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, cause will cooperate with Buyer to be have Buyer named as beneficiary under the Non-Cash Security Deposits; provided that such cooperation shall be at no cost or expense to Seller. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Depositssecurity deposits. In the event Seller will cause each original letter of credit and all necessary original transfer documentation to be placed into Escrow so that Buyer cannot be is named the beneficiary under the Non-Cash Security Deposits as Beneficiary thereunder effective as of Closing, and the Closing Date, a cash escrow equal to the amount original letter of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued credit in Buyer’s name. Prior name is delivered to Buyer immediately following Closing, or if for any reason such time timing is not possible, Seller will [FINAL EXECUTION COPY] cooperate with Buyer and place into Escrow such documentation as may be necessary to cause any such letter of reissue, Buyer shall credit to be entitled to draw from such cash escrow issued in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit’s name immediately following Closing.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or TenantsTenant Leases, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing DateClosing, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Tenant Leases (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, cause will cooperate with Buyer to be have Buyer named as beneficiary under the Non-Cash Security Deposits; and Buyer shall receive a credit at Closing in the amount of any letter of credit transfer fees which are not required to be paid by tenants under the terms of their Leases. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Depositssecurity deposits. In the event Seller will cause each original letter of credit and all necessary original transfer documentation to be placed into Escrow so that Buyer cannot be is named the beneficiary under the Non-Cash Security Deposits as Beneficiary thereunder effective as of Closing, and the Closing Date, a cash escrow equal to the amount original letter of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued credit in Buyer’s name. Prior name is delivered to Buyer immediately following Closing, or if for any reason such time timing is not possible, Seller will cooperate with Buyer and place into Escrow such documentation as may be necessary to cause any such letter of reissue, Buyer shall credit to be entitled to draw from such cash escrow issued in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit’s name immediately following Closing.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a form other than cash (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, Prepaid rentals and other tenant Tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) required under Leasesthe Leases (the "SECURITY DEPOSITS"), if and to the extent that such deposits the Security Deposits are in either Seller’s actual the possession or control of Seller or its affiliates (or their respective agents, representatives and/or employees) and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which or otherwise returned to the Tenants, subject to confirmation by law or the terms of the Leases could be required to be paid or refunded to Residents or TenantsTenant Estoppel Certificates (defined below), shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing DateClosing, Buyer shall assume full responsibility for all security deposits Security Deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicableLeases). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits Security Deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non"NON-Cash Security Deposits”CASH SECURITY DEPOSITS"), the applicable Seller will, at Closing, cause Buyer to be named as beneficiary under the deliver said Non-Cash Security Deposits. Deposits to Buyer, and Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In order to facilitate the event that naming of Buyer cannot be named the as beneficiary under the any and all such Non-Cash Security Deposits as after Closing (the necessity of which the Closing Dateparties hereto acknowledge), a cash escrow equal to the amount Seller will, upon Buyer's request, execute any documentation that Buyer, any issuer of the any such Non-Cash Security Deposit will be established at the Closing until the and/or any applicable Tenant consider necessary to transfer and/or reissue said Non-Cash Security Deposits are reissued in Deposit to Buyer’s name. Prior to After Closing and until Buyer is so named as beneficiary under any such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit, Seller will draw upon such Non-Cash Security Deposit at the direction of and for the benefit of Buyer.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, Closing Date cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Depositsecurity deposits.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, Prepaid rentals and other tenant charges and cash security deposits listed on Exhibit C (the “Cash Security Deposits”) (including any portion thereof which may be designated as prepaid rent) under Tenant Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or TenantsTenant Leases, shall be assigned to Buyer retained by Seller and either delivered to Buyer or, at Buyer’s option, shall be credited to Buyer against the Purchase Price, and upon Price at Closing. Upon the Closing DateClosing, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Tenant Leases (to the extent the same are required to be refunded by the terms of such Tenant Leases or applicable). To the extent that any Tenants, including, without limitation, Xxxxx X. Xxxxxx P.C. and The Sleep Specialty Center, LLC, are entitled, as of the Close of Escrow, to a rental concession, including, without limitation, a rent abatement or free rent, abatements or other unexpired concessions under any Leases rent period (collectively, the “AbatementsFree Rent Credit”) apply to from and/or any period time after the Closing DateClose of Escrow, Buyer the Free Rent Credit shall be entitled to a credit credited against the Purchase Price for the amount of any such AbatementsPrice. In the event that any security deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, Closing cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. , if any, and Buyer will not receive a credit against the Purchase Price for any such Non-Cash Security Deposits. In the event that the Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing DateClose of Escrow, a cash an escrow equal to the amount of the Non-Cash Security Deposit will shall be established at the Closing until the in an amount equal to all Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, under which Buyer shall be entitled to draw from such cash escrow in is not the event the terms beneficiary as of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security DepositClose of Escrow.

Security Deposits; Prepaid Rents. All depositsExcept as set forth in Exhibit K, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, Prepaid rentals and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such prepaid rentals, tenant charges and deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or TenantsLeases, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing DateClose of Escrow, Buyer shall assume full responsibility for all prepaid rentals, tenant charges, and security deposits to be credited or refunded to the Residents and Tenants under the Leases (to the extent the same are required to be credited or refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing DateClosing, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. , except as provided in Exhibit K. In the event that any security deposits are in a the form of letters of credit or other than cash financial instruments (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, Close of Escrow cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Depositssecurity deposits. In the event that the Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing DateClose of Escrow, a cash an escrow equal to the amount of the Non-Cash Security Deposit will shall be established at the Closing until the Close of Escrow in an amount equal to all Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, under which Buyer shall be entitled to draw from such cash escrow in is not the event the terms beneficiary as of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security DepositClose of Escrow.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under the Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases Leases, and any interest earned thereon which by law or the terms of the Leases Leases, could be required to be paid or refunded to Residents or Tenants, as applicable, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “"Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a form other than cash (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, Closing cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Depositssecurity deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit.

Security Deposits; Prepaid Rents. All deposits, including, without limitation, all prepaid rentals, damage, community fees and reimbursements, and other tenant charges and security deposits (including any portion thereof which may be designated as prepaid rent) under Leases, if and to the extent that such deposits are in either Seller’s actual possession or control and have not been otherwise applied by such Seller to any obligations of any Residents or Tenants under the Leases and any interest earned thereon which by law or the terms of the Leases could be required to be paid or refunded to Residents or Tenants, shall be assigned to Buyer and either delivered to Buyer or, at Buyer’s option, credited to Buyer against the Purchase Price, and upon the Closing Date, Buyer shall assume full responsibility for all security deposits to be refunded to the Residents and Tenants under the Leases (to the extent the same are required to be refunded by the terms of such Leases or applicable). To the extent that any free rent, abatements or other unexpired concessions under any Leases (collectively, “Abatements”) apply to any period after the Closing Date, Buyer shall be entitled to a credit against the Purchase Price for the amount of any such Abatements. In the event that any security deposits are in a form other than cash (the instrument constituting such security deposits shall be known as, the “Non-Cash Security Deposits”), the applicable Seller will, at Closing, cause Buyer to be named as beneficiary under the Non-Cash Security Deposits. Buyer will not receive a credit against the Purchase Price for such Non-Cash Security Deposits. In the event that Buyer cannot be named the beneficiary under the Non-Cash Security Deposits as of the Closing Date, a cash escrow equal to the amount of the Non-Cash Security Deposit will be established at the Closing until the Non-Cash Security Deposits are reissued in Buyer’s name. Prior to such time of reissue, Buyer shall be entitled to draw from such cash escrow in the event the terms of the relevant lease entitle Buyer, as landlord, to draw on the Non-Cash Security Deposit.Cash