Tenant Security Deposits. All unapplied tenant security deposits (and interest thereon if required by law or contract to be earned thereon) under the Leases, shall be credited to Buyer at Closing.
Tenant Security Deposits. All security deposits of Tenants, whether held in cash or any other form, shall not be commingled with any other funds of Borrower and, if cash, shall be deposited by Borrower at such commercial or savings bank or banks as may be reasonably satisfactory to Lender. Any bond or other instrument which Borrower is permitted to hold in lieu of cash security deposits under any applicable Legal Requirements (a) shall be maintained in full force and effect in the full amount of such deposits unless replaced by cash deposits as herein above described, (b) shall be issued by an institution reasonably satisfactory to Lender, (c) shall, if permitted pursuant to any Legal Requirements, name Lender as beneficiary, payee or mortgagee thereunder (or at Lender’s option, be fully assignable to Lender at no cost to Lender) and, at Lender’s request, be turned over to Lender to be held by Lender subject to the terms of the Leases, and (d) shall in all respects comply with any applicable Legal Requirements and otherwise be reasonably satisfactory to Lender. Borrower shall, upon request, provide Lender with evidence reasonably satisfactory to Lender of Borrower’s compliance with the foregoing. Upon Lender’s demand, Borrower shall turn over to Lender the security deposits (and any interest theretofore earned thereon) with respect to all or any portion of the Property, to be held by Lender subject to the terms of the Leases. If Borrower is entitled to retain a security deposit in excess of the amounts then due (excluding future Rents in excess of one (1) month’s Rent) under the terms of the Lease, then such amount shall be transferred by Borrower into the TI/LC Reserve Account.
Tenant Security Deposits. Agent may, in Agent's discretion, require tenants to make security deposits in an amount permitted by law to secure tenants’ lease obligations (such security deposits shall hereinafter be referred to as "Tenant Security Deposits"). If the Agent requires Tenant Security Deposits, they shall be placed in a trust account in Agent’s name in a North Carolina bank or savings and loan association. Upon the commencement of this Agreement, Owner shall deliver to Agent a list of any current tenants who previously made Tenant Security Deposits under existing leases and the amounts thereof. Simultaneously therewith, any such Tenant Security Deposits shall be placed in a trust account in Agent's name in a North Carolina bank or savings and loan association, and shall thereafter be administered in accordance with this Agreement.
Tenant Security Deposits. At the Closing, Seller shall retain the amount of any Tenant Security Deposits then held by or on behalf of Seller and Buyer shall receive a credit toward the Purchase Price for all such Tenant Security Deposits then held on behalf of Seller.
Tenant Security Deposits. At Closing, Sellers shall give Buyer a credit for all Security Deposits then held by Sellers, Acquired Companies or Fee Owners as of the Closing Date by or for tenants under the Leases, to the extent not previously applied in accordance with the Leases, including any accrued interest. Buyer will cause all Security Deposits to be maintained after Closing in accordance with the requirements of applicable law and shall indemnify and defend Sellers and the other Indemnified Parties from and against all Claims of Tenants with respect to the Security Deposits for which Buyer received a credit at Closing, which indemnity shall survive Closing indefinitely.
Tenant Security Deposits. At Closing, Purchaser shall receive a credit against the Purchase Price for the Property in question in an amount equal to all cash security deposits, if any, then held by or for Seller and not applied under any Contracts. Purchaser will cause such amount to be maintained after closing as a security deposit in accordance with the requirements of applicable law and the leases and shall indemnify and hold harmless Seller and the other Released Parties from and against all losses, damages, costs (including reasonable attorney’s fees and costs), and liabilities arising out of claims of tenants with respect thereto.
Tenant Security Deposits. At the Closing, Sellers shall transfer or cause to be transferred to Buyer the Security Deposits then held by Sellers.
Tenant Security Deposits. An assignment to Purchaser of all accounts representing tenant security deposits, including all accrued interest thereon required by law or other agreement to be paid thereon.
Tenant Security Deposits. On the Closing Date, (i) the aggregate amount of all cash security deposits held by Seller under the Leases shall be credited against the Purchase Price therefor, and Purchaser shall assume the obligation for such security deposits pursuant to the Assignment and Assumption, and (ii) any non‑cash security deposits and letters of credit held by Seller under any Leases shall be transferred, set over and delivered to Purchaser. Seller agrees to reasonably cooperate with Purchaser after Closing in the transfer and assignment of any letters of credit to the extent any such transfer and assignment is not completed at Closing.
Tenant Security Deposits. The Seller Parties shall grant to Purchaser a credit in an amount equal to the aggregate of the unapplied Tenant security and other deposits under the Leases that are held by a Seller Party or any Purchased Entity, as the case may be, in cash at the time of the Applicable Adjustment Time and are retained by a Seller Party after the Respective Closing, including all accrued interest thereon to the extent any Tenant may be entitled to receive such amounts in connection with the refund of any such deposit.
