Security Deposit. As part of this Agreement: (check one) ☐ - The Landlord requires a payment in the amount of $ (“Security Deposit”) for the faithful performance of the Tenant under the terms and conditions of this Agreement. Payment of the Security Deposit is required by the Tenant upon the execution of this Agreement. The Security Deposit shall be returned to the Tenant within days after the end of the Lease Term less any itemized deductions. This Security Deposit shall not be credited towards any Rent unless the Landlord gives their written consent. ☐ - The Landlord does not require a Security Deposit as part of this Agreement.
Security Deposit. Tenant shall deposit with Landlord upon Tenant’s execution hereof the Security Deposit set forth in Paragraph 1.7 as security for Tenant’s faithful performance of Tenant’s obligations under this Lease. If Tenant fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under this Lease (as defined in Paragraph 13.1), Landlord may use, apply or retain all or any portion of said Security Deposit, Tenant shall within ten (10) days after written request therefore deposit monies with Landlord sufficient to restore said Security Deposit to the full amount required by this Lease. Landlord shall not be required to keep all or any part of the Security Deposit separate from its general accounts. Landlord shall, at the expiration or earlier termination of the term hereof and after Tenant has vacated the Premises, return to Tenant (or, at Landlord’s option, to the last assignee, if any, of Tenant’s interest herein), that portion of the Security Deposit not used or applied by Landlord. Unless otherwise expressly agreed in writing by Landlord, no part of the Security Deposit shall be considered to be held in trust, to bear interest or other increment for its use, or to be prepayment for any monies to be paid by Tenant under this Lease.
Security Deposit. Lessee shall deposit with Lessor upon Lessee's execution hereof the Security Deposit set forth in Paragraph 1.7 as security for Lessee's faithful performance of Lessee's obligations under this Lease. If Lessee fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under this Lease (as defined in Paragraph 13.1), Lessor may use, apply or retain all or any portion of said Security Deposit for the payment of any amount due Lessor or to reimburse or compensate Lessor for any liability, cost, expense, loss or damage (including attorneys' fees) which Lessor may suffer or incur by reason thereof. If Lessor uses or applies all or any portion of said Security Deposit, Lessee shall within ten (10) days after written request therefore deposit monies with Lessor sufficient to restore said Security Deposit to the full amount required by this Lease. Any time the Base Rent increases during the term of this Lease, Lessee shall, upon written request from Lessor, deposit additional monies with Lessor as an addition to the Security Deposit so that the total amount of the Security Deposit shall at all times bear the same proportion to the then current Base Rent as the initial Security Deposit bears to the initial Base Rent set forth in Paragraph 1.5. Lessor shall not be required to keep all or any part of the Security Deposit separate from its general accounts. Lessor shall, at the expiration or earlier termination of the term hereof and after Lessee has vacated the Premises, return to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest herein), that portion of the Security Deposit not used or applied by Lessor. Unless otherwise expressly agreed in writing by Lessor, no part of the Security Deposit shall be considered to be held in trust, to bear interest or other increment for its use, or to be prepayment for any monies to be paid by Lessee under this Lease.
Security Deposit. Prior to March 1, 2005, Tenant shall deposit with Landlord the sum of Seven Hundred Fifty One Thousand Eight Hundred Ninety Four and No/100 Dollars ($751,894.00) ("Security "Deposit"). Landlord shall not be deemed a trustee of the Security Deposit, may use the Security Deposit in business, and shall not be required to segregate it from its general accounts. Tenant shall not be entitled to interest on the Security Deposit. If Tenant defaults with respect to any provisions of the Lease, including but not limited to the provisions relating to payment of Base Monthly Rent or other charges, Landlord may, after the expiration of all applicable notice and cure periods, to the extent reasonably necessary to remedy Tenant's default, use any or all of the Security Deposit towards payment of the following: (i) Base Monthly Rent or other charges in default; (ii) any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default including, but not limited to Tenant's failure to restore or clean the Premises following vacation thereof. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) business days after written demand from Landlord, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its full original amount, and shall pay to Landlord such other sums as necessary to reimburse Landlord for any sums paid by Landlord. If Tenant shall default more than three (3) times in any twelve (12) month period, irrespective of whether or not such default is cured, then the Security Deposit shall, within ten (10) days after demand by Landlord, be increased by Tenant to an amount equal to three (3) times the Base Monthly Rent. Tenant may not assign or encumber the Security Deposit without the consent of Landlord. Any attempt to do so shall be void and shall not be binding on Landlord. The Security Deposit shall be returned to Tenant within thirty (30) days after the Expiration Date and surrender of the Premises to Landlord, less any amount deducted in accordance with this Section, together with Landlord's written notice itemizing the amounts and purposes for such deduction. In the event of termination of Landlord's interest in this Lease, Landlord may deliver or credit the Security Deposit to Landlord's successor in interest in the Premises and thereupon be relieved of further responsibility with respect to the Security Deposit provided such successor assumes, in writing, Landl...
Security Deposit. Sublessee has deposited with Sublessor the sum of $60.000.00 (the “Security Deposit”) as security for the faithful performance and observance by Sublessee of the terms, provisions and conditions of this Sublease. The Security Deposit shall not bear interest. In the event Sublessee defaults in respect of any of the terms, provisions or conditions of this Sublease including, but not limited to, the payment of Base Rent or Additional Rent, Sublessor may use, apply or retain the whole or any part of the Security Deposit to the extent required for the payment of any Base Rent or Additional Rent or any other sum as to which Sublessee is in default or for any sum which Sublessor may expend or be required to expend by reason of Sublessee’s default including, but not limited to, any damage or deficiency in the re-letting of the Premises, whether such damage or deficiency accrued before or after summary proceedings or other re-entry by Sublessor. In the event that Sublessee shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of this Sublease, the Security Deposit (less any Base Rent, Additional Rent or any other sum as to which Sublessee is in default or any sum which Sublessor shall have expended by reason of Sublessee’s default) shall be returned to Sublessee within thirty (30) days after the end of the Term and after Sublessee’s delivery of possession of the entire Premises to Sublessor. In the event of a transfer by Sublessor of Sublessor’s rights under the Prime Lease, Sublessor shall have the right to transfer the Security Deposit to the transferee and, upon such transfer of the Security Deposit, Sublessor shall be released by Sublessee from all liability for the return of the Security Deposit and Sublessee shall look solely to said transferee for the return of the Security Deposit. Sublessee shall not assign or encumber or attempt to assign or encumber the monies deposited hereunder as security and neither Sublessor nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.
Security Deposit. Sublessee shall deposit with Sublessor upon execution of this Sublease the sum of Twenty Thousand Two Hundred Fifty and 40/100ths Dollars ($20,250.40) as security for Sublessee's faithful performance of Sublessee's obligations hereunder ("Security Deposit"). If Sublessee fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, Sublessor may use or apply all or any portion of the Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by reason of Sublessee's default or breach, or for any loss or damage sustained by Sublessor as a result of Sublessee's default or breach. If Sublessor so uses any portion of the Security Deposit, Sublessee shall, within ten (10) days after written demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee's failure to do so shall constitute a default under this Sublease. Sublessor shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of interest on the Security Deposit. In the event Sublessor assigns its interest in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then held by Sublessor. Within ten (10) days after the Term has expired, or Sublessee has vacated the Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been made, whichever shall last occur, and provided Sublessee is not then in default of any of its obligations hereunder, the Security Deposit, or so much thereof as had not theretofore been applied by Sublessor, shall be returned to Sublessee or to the last assignee, if any, of Sublessee's interest hereunder.
Security Deposit. Upon execution of this Lease, Tenant shall provide the following amount to Landlord, to be held as a security deposit for the reasonable cleaning or repair of damages to the Property upon the expiration or termination of this lease or in case of default by Tenant: $ ( dollars). The security deposit shall not exceed one month's rent for tenancies lasting a year or more and for unfurnished apartments. For month-to-month tenancies or rentals of furnished units, there shall be no limit on the security deposit Landlord may collect. The security deposit will be held at the following financial institution: Tenant hereby agrees to be liable to Landlord at the expiration or termination of this Lease for all damages to the Property, except ordinary wear and tear. Landlord may hold the security deposit in a non-interest-bearing account. In such case, no interest is due to Tenant and Tenant may not use the security deposit to cover Rent. Landlord may otherwise elect to hold security deposit in an interest-bearing account and allow Tenant to receive certain interest funds, if applicable. Tenant shall still not be permitted to use the security deposit to cover any Rent. In case of sale or assignation of the Lease by Landlord, Tenant's security deposit shall be transferred to the new owner or assignee and Landlord shall be released from liability to Tenant for return of the security deposit. Deductions from the security deposit may be made for the following reasons (this list constitutes examples only and is not intended to be exhaustive): unpaid rent or utilities, late fees, cleaning, key replacement, removing abandoned property, and/or attorneys' fees for proceedings against Tenant. Landlord shall return Tenant's security deposit or provide an itemized list of deductions along with the remainder of the security deposit, if applicable, within 20 (twenty) days after Tenant has surrendered the Property. If Landlord requires deductions which exceed the security deposit, Tenant agrees to pay Landlord any overage amount within ten days after receiving a written demand from Landlord. Landlord will first apply the security deposit to any non-rent obligations, such as damages, utilities, or late fees, and will then apply the security deposit to any unpaid rent.
Security Deposit. Lessee will deposit with Lessor the sum of Eleven Thousand Dollars ($11,000.00) at the time of signing of this Lease Agreement as security for the faithful performance and observance by Lessee of the terms, provisions, and conditions of this Lease. It is agreed that in the event Lessee defaults in respect to any of the terms, provisions, and conditions of this Lease, including but not limited to, the payment of rent and additional rent, Lessor may use, apply, or retain the whole or any part of the security so deposited to the extent required for the payment of any rent and additional rent or any other sum as to which Lessee may expend or may be required to expend by reason of Lessee's default in respect of any of the terms, covenants, and conditions of this Lease, including but not limited to, any damages or deficiency in the reletting of the Demised Premises after an event of default, whether such damages or deficiency accrued before or after summary proceedings or other re-entry by Lessor. Upon notice from Lessor that sums have been so applied, Lessee shall within ten (10) days replenish the security deposit to its original amount. In the event that Lessee shall fully and faithfully comply with all of the terms provisions, covenants, and conditions of this Lease, the security shall be returned to Lessee within thirty (30) days after the date fixed as the end of this Lease and after delivery of entire possession of the Demised Premises to Lessor, without interest. In the event of a sale of the land and building, Lessor shall have the right to transfer the security to the buyer thereof and Lessor shall thereupon be released by Lessee from all liability for the return of such security; and Lessee agrees to look to the new Lessor solely for the return of said security. It is agreed that the provisions hereof shall apply to every transfer of assignment made of the security to a new Lessor. Lessee further covenants that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as security and that neither Lessor nor their successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment, or attempted encumbrance. It is understood by Lessee that no part of the security is to be considered as any rental due under the terms of the Lease.
Security Deposit. On or before the Execution Date of this Lease, Tenant shall deposit with Landlord the initial installment of the Security Deposit as set forth in Section 2.2, which sum shall be held by Landlord as security for the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the Term. Interest shall accrue on the Security Deposit for the benefit of Tenant and shall be paid to Tenant to the extent that Tenant is entitled to the return of the Security Deposit as provided in this Lease. Landlord shall not be required to maintain a separate account for the Security Deposit, but may intermingle it with other funds of Landlord; provided however, Landlord shall keep the Security Deposit in a federally insured, interest-bearing account for the benefit of Tenant. If Tenant Defaults with respect to any provision of this Lease, then without notice to Tenant, Landlord may (but shall not be required to), apply all or any part of the Security Deposit for the payment of any Rent or any other sum in Default. If any portion of the Security Deposit is so used or applied, then Tenant shall, upon demand therefor, restore the Security Deposit to its original amount. So long as no default has occurred and is continuing, the unapplied portion of the Security Deposit shall be returned to Tenant, or, at Landlord's option, to the last assignee of Tenant's interest hereunder, within sixty (60) days following the expiration of the Term. Tenant hereby irrevocably waives and relinquishes any and all rights, benefits, or protections, if any, Tenant now has, or in the future may have under any provision of law which (a) establishes the time frame by which a landlord must refund a security deposit under a lease, or (b) provides that a landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by a tenant, or to clean the subject premises. Tenant acknowledges and agrees that (x) any statutory time frames for the return of a security deposit are superseded by the express period identified in this Section 5.4, and (y) rather than be so limited, Landlord may claim from the Security Deposit (i) any and all sums expressly identified in this Section 5.4, and (ii) any additional sums reasonably necessary to compensate Landlord for any and all losses or damages caused by Tenant's default of this Lease, including, but not limited to, all dam...
Security Deposit. Upon the later of execution of this Amendment and Landlord's receipt of Tenant's deposit in the amount of $150,000.00 (the "Security Deposit"), Landlord agrees to waive the requirement of a letter of credit as security for Tenant's obligations under the Lease. Landlord may apply all or part of the Security Deposit to any unpaid Rent or to cure any other defaults of Tenant. If Landlord uses any part of the Security Deposit, Tenant shall restore the Security Deposit to its original amount within 1O business days after Landlord's written request. Tenant's failure to do so shall be a default under the Lease and the overdue amount shall accrue interest as any delinquent payment. If twice within any 12 month period, late charges are assessed against Tenant by Landlord, Landlord may, by written notice to Tenant, require Tenant to pay Landlord an amount equal to two months Base Rent as an increase in the Security Deposit, due within 5 business days after Tenant's receipt of the notice. If Landlord transfers its interest in the Premises, Landlord shall transfer the Security Deposit to its successor in interest, and notify Tenant in writing of such transfer, including the date of the transfer, the amount transferred, and the name and address of the transferee, whereupon Landlord shall be automatically released from any liability for the return of the Security Deposit. If, at the end of the Term, Tenant has fully complied with all obligations under the Lease, then the remaining Security Deposit shall be returned to Tenant after Landlord has verified that Tenant has fully vacated the Premises, removed all of its property and surrendered the Premises in the condition required; provided that Landlord may hold back a reasonable portion of the Security Deposit until final determination of Tenant's Share of Common Expenses due hereunder, which shall be made no later than 6 months following the expiration of the Term or earlier termination of the Lease, whereupon any final adjustment shall be made and any remaining Security Deposit shall be returned to Tenant. Landlord's obligations with respect to the Security Deposit are those of a debtor and not of a trustee, and Landlord can commingle the Security Deposit with Landlord's general funds and no interest shall be paid to Tenant on the Security Deposit. If the Premises is further increased in size due to any option Tenant exercises or otherwise, the Security Deposit shall be increased to an amount to be determined by Landlor...
