Tenant Security Deposit. On the Commencement Date Tenant shall deposit with Landlord in cash the sum of Seven Hundred Thirty-Eight Thousand Seven Hundred Seventy-One and No/100 Dollars ($738,771.00), as a security deposit (the "Security Deposit"), for Tenant's faithful performance of all of Tenant's obligations under this Agreement. If Tenant fails to pay Rent or Additional Charges due hereunder, fails to fund Reserve Expenditures which exceed available funds in the Reserve, or otherwise defaults with respect to any provision of this Agreement, then in addition to and not exclusive of any other remedies available under this Agreement, Landlord may use, apply or retain all or any portion of the Security Deposit for the payment of any Rent, the funding of Additional Charges or Reserve Expenditures or other charges in default, or for the payment of any sum to which Landlord may become obligated by reason of Tenant's default. If Landlord so uses or applies all or any portion of the Security Deposit, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the full amount of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its general accounts. If Tenant performs all of Tenant's obligations hereunder, at the expiration of the Term, and after Tenant has vacated the Leased Property, the Security Deposit, or so much thereof as has not been applied or used by Landlord as provided in this Agreement, shall be returned to Tenant, without payment of interest or other increment for its use. No trust relationship is created herein between Landlord and Tenant with respect to the Security Deposit. The Security Deposit shall be paid by Tenant to Landlord upon the Commencement Date.
Tenant Security Deposit. The Security Deposit shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent's discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant's address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant's collection for a six-month period beginning upon the termination of the tenancy and delivery of possession by the Tenant. If the Tenant fails to make demand for the balance of the Tenant Security Deposit within the six-month period, the Landlord shall not thereafter be liable to the Tenant for a refund of the Tenant Security Deposit or any part thereof. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord's designee and thereafter notify the Tenant by mail of such transfer and of the transferee's name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx's interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 4 2-54.
Tenant Security Deposit. 19 3.11 Security for all ARC-Related Leases.................................................20 3.12
Tenant Security Deposit. All Tenants shall deposit with Landlord the sum of $200 as a security deposit (“Tenant Security Deposit”). See section 3-7 for cancellation and refund policy information. The Tenant Security Deposit shall be held until the completion of the damage billing process to ensure that all charges for facility concerns are appropriately applied in the manner and the purposes set forth in this agreement. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts sufficient to pay: (1) any damages sustained by the Landlord as a result of the Tenant’s nonpayment of rent on non-fulfillment of the Initial Term or any renewal periods, including the Tenant’s failure to enter into possession; (2) any damages to the Premises for which the Tenant is responsible; (3) any unpaid bills which become a lien against the Premises due to the Tenant’s occupancy; (4) any outstanding obligation to the university; (5) any court costs incurred by the Landlord in connection with terminating the tenancy; and any other damages of the Landlord. After having deducted the above amounts, the Landlord shall, credit the tenants account for the remaining difference if they are an enrolled student. If they are no longer an enrolled student a refund will be issued.
Tenant Security Deposit. Tenant shall not be required to furnish a tenant security deposit (“Security Deposit”) under this Lease.
Tenant Security Deposit. If applicable, the Security Deposit shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. Section 42- 50 et seq.) IT MAY, IN THE DISCRETION OF EITHER THE OWNER/AGENT, BE DEPOSITED IN ANY INTEREST BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE OWNER/AGENT, OR AS THE OWNER/AGENT DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY OWNER/AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY
Tenant Security Deposit. On the Effective Date, Tenant shall deliver to Landlord a security deposit in an amount equal to ONE MILLION SEVENTEEN THOUSAND and NO/100 DOLLARS ($1,017,000.00), to be comprised in the form of cash (the “Security Deposit”). The Security Deposit may be increased, from time to time, pursuant to Section 20.5, Section 20.6 and Section 20.7 hereof. The Security Deposit, as so increased from time to time, shall be referred to as the “Security Deposit”. The Security Deposit shall be retained by Landlord for the duration of the Term of this Lease, including any Extended Term hereunder. If Tenant performs all of Tenant’s obligations hereunder, and each of the tenants under each of the Affiliated Leases perform all of such tenant’s obligations under the applicable Affiliated Lease, then at the expiration of the Term, and after Tenant has vacated the Leased Property, the Security Deposit, or so much thereof as has not been applied or used by Landlord as provided in this Lease, shall be returned to Tenant, without payment of interest or other increment for its use. No trust relationship is created herein between Landlord and Tenant with respect to the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its general accounts and may commingle the same with other funds of Landlord.
Tenant Security Deposit. If the units constructed at the Project are for tenant occupancy, the Borrower covenants and agrees to deposit all moneys paid to the Borrower by any residential tenant as a security deposit in a separate interest bearing bank account held and maintained in accordance with applicable law and instructions of the Lender its successors and/or assigns as to its custody and control.
Tenant Security Deposit. The Security Deposit shall be administered in accordance with North Carolina tenant Security Deposit Act (N.C.G.S 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT
Tenant Security Deposit
