Use of Deposit. We may use any deposit made by you for the payment of any amounts owing pursuant to this Contract.
Use of Deposit. If Tenant fails to pay Rent or otherwise defaults with respect to any provision of this Lease, City may use, apply or retain all or any portion of the Deposit for the payment of Rent or other charge in default or for the payment of any other sum to which City may become obligated by reason of Tenant’s default or to compensate City for any loss or damage which City may suffer thereby. If City so uses or applies all or any portion of the Deposit, Tenant, within ten (10) days after request therefore, shall deposit other security acceptable to Director with City in an amount sufficient to restore the Deposit to the full amount thereof, and Tenant’s failure to do so shall be a breach of this Lease. City shall not be required to keep the Deposit or any proceeds thereof, as applicable, separate from its general accounts. Any proceeds of the Deposit is and will remain the sole and separate property of City until actually repaid to Tenant, said sum not being earned by Tenant until all provisions precedent for its payment to Tenant have been fulfilled. If Tenant performs all of Tenant’s obligations hereunder, the Deposit, or the proceeds thereof, or so much thereof as has not theretofore been applied by City, shall be returned, without payment of interest or other increment for its use, to Tenant (or, at City’s option, to the last assignee, if any, of Tenant’s interest hereunder) within sixty (60) days after the expiration of the Term, and after Tenant has vacated the Premises. No trust relationship is created herein between City and Tenant with respect to the Deposit or any proceeds thereof.
Use of Deposit. Upon a default by the Renter, Mountain View Trailer Rentals Inc. may apply so much of the Security Deposit as is necessary to cure the default or pay any expenses incurred as a result of default.
Use of Deposit. The Seller shall use, and Banro shall cause to be used, the Deposit only to pay accrued and unpaid dividends as of the last payment date on or prior to the date of receipt by the Seller of the Deposit on preferred shares in the capital of Banro Group (Barbados) Limited and the Series A preferred shares in the capital of Banro, to repay the notes issued pursuant to the backstop facility dated August 18, 2014, bank indebtedness and accounts payable and thereafter, general corporate purposes.
Use of Deposit. Tenant, contemporaneously with the execution of this Lease, has deposited with Landlord the sum set forth in Subparagraph 1.16 above, receipt of which is hereby acknowledged by Landlord, said deposit being given to secure the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease by Tenant to be kept and performed during the term hereof. Tenant agrees that if Tenant shall fail to pay the rent or any other sum herein required promptly when due, said deposit may, at the option of Landlord (but Landlord shall not be required to), be applied to any rent or other sum due and unpaid, and if Tenant violates any of the other terms, covenants and conditions of this Lease, said deposit shall be applied to any damages suffered by Landlord as a result of Tenant's default to the extent of the amount of the damages suffered.
Use of Deposit. In order to facilitate the development of the Community, the Depositor agrees that SSL may use the Deposit for initial expenses related to the design, development, marketing and financing of the Community and related Spaces, attached to the Appendix 1 Escrow Agreement as Exhibit A. SSL agrees to use best efforts to:
Use of Deposit. This Deposit may be used to cover any unpaid rent owed to the Landlord at the time of Lease termination, or to reimburse the Landlord for the cost of repairing any damages to the Premises caused by the willful conduct or negligence of the Tenant, the Tenant’s family or guests or that is otherwise attributable to the Tenant. The Deposit may not be used to cover unpaid Rent or other charges while the Tenant continues to occupy the Premises.
Use of Deposit. The Seller PSA Entities shall ensure that the Deposit is used only for the acquisition of the Project Owner.
Use of Deposit. The Supplier shall be entitled to use the Deposit for general corporate purposes (including the development, construction and acquisition of the Project Assets), in its sole discretion.
Use of Deposit. If Tenant defaults under any provision of this Lease, including but not limited to the provisions relating to the payment of Rent, Landlord may use, apply or retain all or any part of the Security Deposit (or draw on the Letter of Credit as applicable) to be applied to the unpaid Rent, for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied or Landlord draws on the Letter of Credit, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount or shall provide a new letter of credit for the required amount and Tenant’s failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep Tenant’s Security Deposit or any Letter of Credit proceeds separate from its general funds, and Tenant shall not be entitled to interest on the Security Deposit or Letter of Credit proceeds. If Tenant fully and faithfully performs its obligations under this Lease, the Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within a reasonable period of time after the expiration of the Term and final determination of any sums due hereunder.
