Renovation Deposit definition

Renovation Deposit means the sum stipulated in Part 8 of the First Schedule hereto payable by the Tenant to the Landlord as security for the Tenant’s due performance and observance of the terms herein contained during the Renovation Period;
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Renovation Deposit means the renovation deposit (if any) referred to in the Offer Letter or the Side Letter(s), if any.
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Examples of Renovation Deposit in a sentence

  • If the Renovation Deposit shall be insufficient, the Tenant shall pay to the Landlord on demand the balance of the costs and expenses incurred with Interest from the date of expenditure until the date they are paid by the Tenant to the Landlord, such costs, expenses and Interest to be recoverable as if they were rent in arrears.

  • The Renovation Deposit will be released from escrow by the Escrow Agent on a schedule and under terms to be agreed upon by the Purchaser, PG Company and the Renovation Contractor.

  • If the Renovation Deposit is insufficient to meet the costs and expenses incurred by the Landlord, the Tenant shall pay to the Landlord within seven (7) days of demand all costs and expenses so incurred with Interest from the date of expenditure until the date they are paid by the Tenant to the Landlord (such expenses and Interest will be recoverable as if it is rent in arrears).

  • With regard to the Renovation Deposit, the same less such sum(s) as may then be found due to the Landlord and/or the Mall Manager shall be refunded to the Tenant without interest after satisfactory completion of the Fit Out/Renovation Works and upon inspection by the Landlord to ensure compliance with all the conditions of approval in respect of the Fit Out/Renovation Works.

  • The Renovation Deposit, subject to any deductions to be made by the Landlord pursuant to the provisions of this Clause 3.10, shall be repaid to the Tenant, without interest, within one month after the proper completion of the Tenant’s Works in compliance with the provisions of this Clause 3.10.

  • The Renovation Deposit shall be deposited into an escrow trust with a mutually appointed Escrow Agent.

  • Renovation Deposit Based on the rate of $15.00 per square metre of the Floor Area of the Premises and subject to a minimum of $2,000.00, the Renovation Deposit of $32,160.00 for the proposed Fitting Out Works must be placed with the Landlord on acceptance of this offer.

  • Renovation Deposit : Based on the rate of $10.00 per square metre of the Floor Area of the Premises and subject to a minimum of $2,000.00, the Renovation Deposit of $9,480.00 for the proposed Fitting Out Works must be placed with the Landlord on acceptance of this offer.