Common use of Security Payment Clause in Contracts

Security Payment. The Lessee may pay the Security Payment at its own discretion instead of providing the Lessor with the Bank Guarantee, within the time limit fixed for providing the Bank Guarantee (Clause 4.17 of the Lease Agreement). The Security Payment shall be provided equal to the Total Security Amount, considering the fact that only the Leased Area of the Premises with respect to which the Lease Agreement has been signed is taken into account when determining the Total Security Amount for the Security Payment as of the Lease Agreement date. Further, when each Supplementary Agreement to the Lease Agreement is signed by the Parties, the Security Payment shall be increased up to the Total Security Amount, which value is determined with account for the Leased Area of the Premises leased out under the Supplementary Agreement to the Lease Agreement. The Security Payment equal to the full Total Security Amount should be provided by the Lessee to the Lessor by the date of signing the last Supplementary Agreement to the Lease Agreement. All conditions and requirements of Appendix 8 to the Lease Agreement relevant for the Security Payment shall apply to the Security Payment. When the Lease Agreement is entered into, the Security Payment provided by the Lessee to the Lessor under the Preliminary Agreement shall be credited towards the Security Payment under the Lease Agreement. In so doing, that part of the Security Payment provided under the Preliminary Agreement is subject to offset, which is calculated on the basis of the Leased Area of the Premises leased out under the Lease Agreement. The remaining part of the Security Payment submitted to the Lessor under the Preliminary Agreement remains at the Lessor’s disposal under the Preliminary Agreement. After each Supplementary Agreement to the Lease Agreement is signed by the Parties, a part of the Security Payment available to the Lessor under the Preliminary Agreement shall be credited, in its respective part, towards the Security Payment under the Supplementary Agreement to the Lease Agreement to be calculated on the basis of the Leased Area of the Premises leased out under such Supplementary Agreement to the Lease Agreement. If the Bank Guarantee under the Lease Agreement is not provided to the Lessor in due time according to Clause 4.17 of the Lease Agreement and the amount of the Security Payment under the Preliminary Agreement available to the Lessor is insufficient for credit towards the full amount of the Security Payment to be paid under the Lease Agreement [/Supplementary Agreement to the Lease Agreement—to be included if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable], the Lessee shall, within seven (7) Business Days from the date of signing the Lease Agreement [/Supplementary Agreement to the Lease Agreement—to be included if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable], pay the deficient amount of the Security Payment required to be provided under the Lease Agreement [/Supplementary Agreement to the Lease Agreement - to be included if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable]. If the amount of the Security Payment under the Preliminary Agreement exceeds the amount of the Security Payment required to be made under the Lease Agreement as of the date of signing the last Supplementary Agreement to the Lease Agreement, the Parties agree that the difference shall be refunded in the following procedure: (a) the amount equal to 80% of the of the Security Payment amount, including VAT, is to be refunded within ten (10) Business Days from the date of signing by the Parties of the [Lease Agreement—to be changed to “Supplementary Agreement to the Lease Agreement” if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable]; (b) the amount equal to 20% of the of the Security Payment amount, including VAT, is to be refunded within four (4) months from the end of the quarter in which the Parties signed the [Lease Agreement—to be changed to “Supplementary Agreement to the Lease Agreement” if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable].

Security Payment. The Lessee may pay the Security Payment at its own discretion instead of providing the Lessor with the Bank Guarantee, within the time limit fixed for providing the Bank Guarantee (Clause 4.17 4.12 of the Lease Agreement). The Security Payment shall be provided equal to the Total Security Amount, considering the fact that only the Leased Area of the Premises with respect to which the Lease Agreement has been signed is taken into account when determining the Total Security Amount for the Security Payment as of the Lease Agreement date. Further, when each Supplementary Agreement to the Lease Agreement is signed by the Parties, the Security Payment shall be increased up to the Total Security Amount, which value is determined with account for the Leased Area of the Premises leased out under the Supplementary Agreement to the Lease Agreement. The Security Payment equal to the full Total Security Amount should be provided by the Lessee to the Lessor by the date of signing the last Supplementary Agreement to the Lease Agreement. All conditions and requirements of Appendix 8 to the Lease Agreement relevant for the Security Payment shall apply to the Security Payment. When the Lease Agreement is entered into, the Security Payment provided by the Lessee to the Lessor under the Preliminary Agreement shall be credited towards the Security Payment under the Lease Agreement. In so doing, that part of the Security Payment provided under the Preliminary Agreement is subject to offset, which is calculated on the basis of the Leased Area of the Premises leased out under the Lease Agreement. The remaining part of the Security Payment submitted to the Lessor under the Preliminary Agreement remains at the Lessor’s disposal under the Preliminary Agreement. After each Supplementary Agreement to the Lease Agreement is signed by the Parties, a part of the Security Payment available to the Lessor under the Preliminary Agreement shall be credited, in its respective part, towards the Security Payment under the Supplementary Agreement to the Lease Agreement to be calculated on the basis of the Leased Area of the Premises leased out under such Supplementary Agreement to the Lease Agreement. If the Bank Guarantee under the Lease Agreement is not provided to the Lessor in due time according to Clause 4.17 4.12 of the Lease Agreement and the amount of the Security Payment under the Preliminary Agreement available to the Lessor is insufficient for credit towards the full amount of the Security Payment to be paid under the Lease Agreement [/Supplementary Agreement/Supplementary Agreement to the Lease Agreement—to be included if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable], the Lessee shall, within seven (7) Business Days from the date of signing the Lease Agreement [/Supplementary Agreement/relevant Supplementary Agreement to the Lease Agreement—to be included if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable], pay the deficient amount of the Security Payment required to be provided under the Lease Agreement [/Supplementary Agreement/Supplementary Agreement to the Lease Agreement - to be included if as of the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable]Agreement. If the amount of the Security Payment under the Preliminary Agreement exceeds the amount of the Security Payment required to be made under the Lease Agreement as of the date of signing the last Supplementary Agreement to the Lease Agreement, the Parties agree that the difference shall be refunded in the following procedure: (a) the amount equal to 80% of the of the Security Payment amount, including VAT, is to be refunded within ten (10) Business Days from the date of signing by the Parties of the [Lease Agreement—to be changed to “last Supplementary Agreement to the Lease Agreement” if as of Agreement by the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable]Parties; (b) the amount equal to 20% of the of the refundable Security Payment amount, including VAT, is to be refunded within four (4) months from the end date of the quarter quarter, in which the Parties signed the [Lease Agreement—to be changed to “last Supplementary Agreement to the Lease Agreement” if as of Agreement has been signed by the date of the Lease Agreement provisions of Clause 2.5 of the Preliminary Agreement are applicable]Parties.