Definition of Tenant Deposit


Tenant Deposit means all refundable deposits (whether cash or non-cash and whether designated as security or otherwise) paid or deposited by a Tenant to Seller, as landlord, or any other person on Sellers behalf pursuant to a Lease (together with any interest which has accrued thereon as required by the terms of such Lease, but only to the extent such interest has accrued for the account of the respective Tenant or as required by law).

Examples of Tenant Deposit in a sentence

Tenant shall deposit the Tenant Deposit with Landlord in cash prior to the commencement of construction.
Landlord shall also withhold the last ten percent (10%) of the Tenant Improvement Allowance and the Tenant Deposit until the lien-free expiration of the time for the filing of any mechanics' liens claimed or which might be filed on account of any work ordered by Tenant as relates to the completion of the Tenant Improvements.
The Tenant Deposit shall not earn interest during the time it is on deposit with Landlord.
On the applicable Rent Payment Date, funds in the amount of the applicable Hotel Lease Rent (less any amounts previously paid by the Manager that are credited against Hotel Lease Rent) shall be transferred from the Tenant Deposit Accounts established pursuant to the Deposit Account Agreements to the Cash Management Account established pursuant to the Cash Management Agreement.
Landlord shall disburse the Tenant Improvement Allowance and the Tenant Deposit in proportion to the respective amounts thereof then remaining to be disbursed.