Common use of Tenant Security Deposit Clause in Contracts

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.

Appears in 2 contracts

Samples: Lease Agreement (American Retirement Corp), Lease Agreement (CNL Retirement Properties Inc)

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Tenant Security Deposit. On the Commencement Date Tenant shall deposit with Landlord in cash the sum of Seven Hundred Thirty-Eight Fourteen Thousand Seven Six Hundred Seventy-One Fifteen and No/100 Dollars ($738,771.00714,615.00), 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.

Appears in 2 contracts

Samples: Lease Agreement (CNL Retirement Properties Inc), Lease Agreement (American Retirement Corp)

Tenant Security Deposit. On the Commencement Date Tenant shall deposit with Landlord in cash the sum of Seven Three Hundred Thirty-Fifty Eight Thousand Seven Three Hundred Seventy-One Fourteen and No/100 Dollars ($738,771.00358,314.00), 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.

Appears in 1 contract

Samples: Lease Agreement (CNL Retirement Properties Inc)

Tenant Security Deposit. On the Commencement Date Effective Date, Tenant shall deliver to Landlord a cash security deposit in the total amount of FIFTY THOUSAND FOUR HUNDRED TWENTY ONE and No/100 Dollars ($50,421.00) (the “Initial Security Deposit Payment”). On June 1, 2013 and on the first (1st) day of each month thereafter through and including May, 1, 2014, Tenant shall deposit with Landlord in cash the sum of Seven Hundred Thirty-Eight Thousand Seven Hundred Seventy-One an amount equal to EIGHT THOUSAND FOUR HUNDRED FOUR and No/100 Dollars ($738,771.00)8,404.00) (each, as a security deposit (an “Additional Deposit”; each Additional Deposit together with the "Initial Security Deposit Payment is collectively referred to herein as, 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 The Security Deposit for shall increase on a pro-rata basis from time to time as and when any Landlord’s Additional Investment is funded during the payment Term by an amount equal to ten percent (10%) of any Rent, the funding such Landlord’s Additional Investment. Tenant shall deliver such additional amounts to Landlord within ten (10) calendar days 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 Landlord’s written demand therefortherefor which, deposit cash with Landlord in an amount sufficient when received by Landlord, shall immediately be deemed to restore the Security Deposit to the full amount be part of the Security Deposit. Landlord shall not be required to keep the The Security Deposit separate from its general accountsshall be retained by Landlord for the duration of the Term of this Lease, subject to the terms of Section 16.4. If Tenant performs all of Tenant's ’s obligations hereunder, 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 AgreementLease, shall be returned to Tenant, without payment of interest or other increment for its use. No trust or escrow relationship is created herein between Landlord and Tenant with respect to the Security Deposit. The Landlord shall not be required to keep the Security Deposit shall be paid by Tenant to Landlord upon separate from its general accounts and may commingle the Commencement Date.same with other funds of Landlord. Batesville Healthcare Center Batesville, Arkansas

Appears in 1 contract

Samples: Lease Agreement (CNL Healthcare Properties, Inc.)

Tenant Security Deposit. On the Commencement Date Tenant shall deposit with Landlord in cash the sum of Seven Four Hundred ThirtyTwenty-Eight Three Thousand Seven One Hundred Seventy-One Fifty and No/100 Dollars ($738,771.00423,150.00), 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.

Appears in 1 contract

Samples: Lease Agreement (CNL Retirement Properties Inc)

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Tenant Security Deposit. On the Commencement Date Tenant shall deposit with Landlord in cash the sum of Seven Three Hundred Thirty-Eighty Six Thousand Eight Thousand Seven Hundred Seventy-One Eighty and No/100 Dollars ($738,771.00386,880.00), 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.

Appears in 1 contract

Samples: Lease Agreement (CNL Retirement Properties Inc)

Tenant Security Deposit. On the Commencement Date Tenant shall deposit with Landlord in cash the sum of Three Hundred Eighty-Seven Thousand Five Hundred Thirty-Eight Thousand Seven Hundred Seventy-One Two and No/100 50/100 Dollars ($738,771.00387,502.50), 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.

Appears in 1 contract

Samples: Lease Agreement (CNL Retirement Properties Inc)

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