Common use of Security Deposits Required Clause in Contracts

Security Deposits Required. The total Security Deposit required to be held by Landlord at any given time is the sum of Security Deposits for each portion of the Premises for which the Lease is then in effect, subject to the reduction provision in (P) 36.b below and the general provisions of (P) 6. 1) Temporary Premises Security Deposit equals $90,000.00. 2) Original Premises Security Deposit equals $67,710.00 (said amount is held by Landlord per (P) 2.13 of the Old Lease). 3) Expansion Premises Security Deposit equals $86,940.00.