Security Deposit Payments definition
Security Deposit Payments has the meaning set forth in Section 5.13(b).
Security Deposit Payments means any amounts (howsoever described) paid, or to be paid, as the context may require, under any Lease Document to any Obligor to secure the obligations of such Portfolio Lessee to the relevant Obligor under the relevant Lease Documents, whether such amounts are paid by the Portfolio Lessee, any Credit Support Provider or any Letter of Credit Provider;
Examples of Security Deposit Payments in a sentence
Lessee shall pay Lessor prior to the commencement date stated in paragraph 2 above the sum of One Hundred and Six Thousand One Hundred and Ten U.S. Dollars ($106,110.00) that shall represent the first month's payment plus a Seventy Eight Thousand One Hundred and Ten Dollar ($78,110.00) security deposit (the "Security Deposit") Payments for subsequent months shall be made on or before the first day of the month.
For both Long Term and Casual Hire Security Deposit Payments will be held by the Hiree and refunded at the end of the hire term.