Security Deposit Reduction Sample Clauses

Security Deposit Reduction. 1) Subject to the general provisions of P. 6. and provided that Tenant has not been in default under this Lease beyond any applicable cure period, the Security Deposit on the Temporary Premises shall be returned within five (5) business days of the Temporary Premises Expiration Date.
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Security Deposit Reduction. If on February 2, 1999 and/or on February 2, 2000, Lessee (1) shall have paid its Base Rent and all other charges due under this Lease on a timely basis for all of the twelve (12) preceding months (March 1998 through February 1999 and March 1999 through February 2000) and (2) shall have otherwise never been in default of this Lease, then on February 2, 1999 and/or on February 2, 2000 the amount of the Security Deposit shall be reduced by $17,001.70, and such amount shall be credited to Lessee's account. LESSOR: HALE XXXPERTY, LTD., L.P., A CALIFORNIA LIMITED PARTNERSHIP By: SKY VISTA, INC., a California corporation, General Partner By: /s/ Alfrxx Xxxxxxx -------------------------------------------- Name Alfrxx X. Xxxxxxx -------------------------------------------- Its: President -------------------------------------------- LESSEE: PARCPLACE DIGITALK, INC., A CALIFORNIA CORPORATION By: /s/ Ronaxx X. Xxxar -------------------------------------------- Name: Ronaxx X. Xxxar --------------------------------------------
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Security Deposit Reduction. Landlord hereby affirms that Tenant has requested the reduction of Tenant’s cash Security Deposit subject to the satisfaction of the Conditions specified in Article 4 (as amended). Upon the confirmation by Landlord that the Conditions in Article 4 (as amended) have been satisfied as required therein, Landlord agrees to reduce Tenant’s One Hundred Thousand and No/100 Dollars ($100,000.00) cash Security Deposit by Fifty Thousand and No/100 Dollars ($50,000.00) and deliver to Tenant Fifty Thousand and No/100 ($50,000.00) of Tenant’s cash Security Deposit within thirty (30) days of the satisfaction of such Conditions. The parties agree that upon such reduction of the cash Security Deposit, Landlord shall be holding a total remaining cash Security Deposit of Fifty Thousand and No/100 Dollars ($50,000.00). All other provisions of Article 4 remain in full force and effect.
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Security Deposit Reduction. Provided Tenant has not been in default beyond any applicable notice and cure period under the Lease during the previous 12-month period, then at the commencement of the 25th month of the Lease Term and every 12 months thereafter, the amount of the Security Deposit shall be reduced by $290,000.00 until five (5) such reductions have occurred and the remaining Security Deposit is $150,000.00.
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Security Deposit Reduction. So long as Tenant is not then in default under the Lease, after all Clause (b) Rent has been paid in full for the entire 48-month period contemplated under Section 6 above, Tenant may reduce the amount of the Security Deposit required under the first sentence of Section 4.7 of the Lease to an amount equal to nine times the then applicable Monthly Rental under the Lease. This paragraph is not intended to have any effect on Tenant’s obligations under Section 4.7(b) of the Lease, including Tenant’s obligation to provide the Additional Security or the amount of the Additional Security.
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Security Deposit Reduction. Notwithstanding any other provision of the Lease to the contrary, the following provisions shall apply to the Security Deposit under the lease:
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Security Deposit Reduction. (a) Subject to the provisions of Section 34.5(b) hereof, the Security Deposit shall be reduced on each of the following reduction dates (the “Reduction Dates”) as follows:
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Security Deposit Reduction. Tenant has previously deposited with Landlord $132,443.70 as a Security Deposit under the Lease. Notwithstanding anything to the contrary contained in the Lease, in the event that Tenant, as of the Reduction Effective Date, is not in default of any of its obligations under the Lease, Landlord shall reduce the amount of the Security Deposit to $88,737.28, and Landlord shall apply the remaining $43,706.42 as a credit against Xxxxxx's monthly Base Rent obligations next coming due until such credit is exhausted.
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Security Deposit Reduction. If, on each of the anniversaries of the Post Rent Credit Date listed below (each, a “Anniversary Date”), Tenant meets or exceeds the requirements that (i) the Market Capitalization of Tenant (as defined below) shall be at least Five Billion Dollars ($5,000,000,000) and Tenant's stock shall be listed on either the New York Stock Exchange or the NASDAQ stock market, and (ii) no Default by Tenant under this Lease shall have occurred or be continuing (collectively, the "Reduction Requirements" and each a "Reduction Requirement"), then as provided below in this Section the Security Deposit shall be reduced by the amounts set forth in the table below. “Market Capitalization” shall mean the product of the number of issued and outstanding shares of Tenant as of the most recent of the last December 31 or quarter-end date (the most recent of which shall be the “Market Cap Measurement Date”) as set forth in the Annual Report or Quarterly Report on Form 10-Q filed with the SEC by Tenant for the most recent of either the last year or quarter ending prior to the Anniversary Date, multiplied by the closing price of such shares on such Market Cap Measurement Date.
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Related to Security Deposit Reduction

  • Security Deposit Not later than December 31, 2007, Tenant agrees to deposit with Landlord, the sum of $95,000.00 to be held by Landlord as security for the faithful performance of all the terms and conditions of this Lease (“Security Deposit”). Should the Tenant breach any of the terms and conditions of this Lease which continues beyond any applicable cure period and required notice, Landlord shall have the right, at any time, to apply the Security Deposit or any part thereof, for the purpose of curing any such default or for the purpose of reimbursing Landlord for any damage or costs occasioned by such default, but the right of Landlord to apply the Security Deposit shall not affect any other remedies available to Landlord under this Lease or under applicable law. If the Security Deposit, or any part thereof, is so applied by Landlord, Tenant shall, within ten (10) days after demand, deposit additional funds with Landlord to restore the Security Deposit, and failure to do so shall constitute an event of default under this Lease. If the Tenant shall have complied with all material terms and conditions of this Lease at the expiration of this Lease, the Security Deposit (without interest and amounts properly withdrawn by Landlord and not refunded by Tenant) shall be refunded to Tenant within thirty (30) days after the expiration or sooner termination of this Lease (including without limitation permitted terminations hereunder and terminations due to Landlord’s default which continues beyond applicable grace and cure periods following notice where applicable); provided, however, that Tenant first shall have vacated the Leased Space and surrendered possession thereof to the Landlord by delivery of keys, in accordance with the Lease provisions and shall have returned the Leased Space to Landlord in the condition required hereunder. Nothing herein contained shall require Landlord to hold the sums so deposited as a trust fund, nor establish any relationship other than that of debtor and creditor with respect to said funds so deposited. If Landlord shall assign or otherwise transfer its interest in this Lease, Landlord shall transfer the Security Deposit to the assignee or other transferee of such interest (with like obligation to transfer to any subsequent assignee or other transferee), and upon such transfer, Landlord shall be released and relieved from all liability and/or responsibility with respect to this Security Deposit and/or the return or application thereof.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • Additional Security Deposit No additional security deposit shall be required in connection with this Amendment.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Rent and Security Deposit (if applicable). Renter will pay the Town a rental fee of $ at the signing of this Rental Agreement. Renter will also pay the Town a security deposit of $ at the signing of this Rental Agreement.

  • Debt Service Reserve Account Borrower shall fund and maintain a debt service reserve in the Debt Service Reserve Account, in an amount equal to twelve (12) monthly payments of principal and interest on the Term Loan as determined from time to time by the Lender (the “Debt Service Reserve Amount”). Beginning with the first fiscal year end after the Effective Date, and at each fiscal year end thereafter, until such time as the balance in the Debt Service Reserve Account is equal to or greater than the Debt Service Reserve Amount, one hundred percent (100%) of Excess Cash Flow shall be deposited in the Debt Service Reserve Account by Borrower within 120 days of each fiscal year end. The balance held in the Debt Service Reserve Account shall earn interest at the rate determined by the Lender from time to time. If at any time after the Debt Service Reserve Amount has been fully funded by the Borrower the balance in the Debt Service Reserve Account is less than sixty-seven percent (67.0%) of the applicable Debt Service Reserve Amount, the Borrower shall, within sixty (60) days after receipt of notice from the Lender as provided herein, deposit in the Debt Service Reserve Account an amount sufficient to restore the balance in the Debt Service Reserve Account to an amount not less than the Debt Service Reserve Amount; provided, however, Borrower shall not be required to make a deposit in the Debt Service Reserve Account to the extent that such a deposit would exceed one hundred percent (100%) of Excess Cash Flow, calculated based upon unaudited monthly financial statements required by Section 5.01(c)(ii) of this Agreement for the month ending immediately prior to receipt of notice from the Lender. In the event that Borrower is not required to fully restore the balance in the Debt Service Reserve Account pursuant to the foregoing sentence, Borrower shall at the earliest possible date thereafter, to the extent of Excess Cash Flow determined on unaudited monthly financial statements required by Section 5.01(c)(ii) of this Agreement or audited financial statements required by Section 5.01(c)(i) of this Agreement, as applicable, deposit in the Debt Service Reserve Account such additional amounts as will restore the balance in the Debt Service Reserve Account to an amount not less than the Debt Service Reserve Amount. As and when any of the Loan Obligations are past due, after any applicable grace periods have expired, under any Loan Document, Lender, in its sole discretion, may withdraw from the Debt Service Reserve Account the amount of the then past due Loan Obligations and apply such amounts to the payment of the past due Loan Obligations. Notwithstanding the foregoing sentence, if an Event of Default has occurred and is continuing under the Loan Documents, the Lender may, after any applicable grace periods have expired, withdraw amounts in the Debt Service Reserve Account, in its sole discretion, and apply such amounts to the payment of the Loan Obligations in such order and manner as Lender shall determine in its sole discretion. Withdrawals by the Lender of any amounts from the Debt Service Reserve Account to pay any Loan Obligations as provided in this Section 2.14 may be made without the requirement of any consent by or notice to the Borrower, provided that Lender shall provide to Borrower notice that such withdrawal was made within a reasonable time thereafter. Borrower recognizes and acknowledges that its obligation to pay the Loan Obligations are absolute and unconditional and it is not dependent upon sufficient deposits in the Debt Service Reserve Account being available to make payment on any Loan Obligations, and nothing herein shall be construed to negate or modify the Borrower’s absolute and unconditional obligation to pay the Loan Obligations in accordance with the terms and conditions of this Agreement and the Loan Documents. Borrower shall execute and deliver to the Lender any and all deposit account control agreements the Lender may reasonably request in accordance with the terms and conditions of the Loan Documents, and take all actions and deliver all documents the Lender may reasonably request or require to perfect the Lender’s security interest in the Debt Service Reserve Account, in accordance with the terms and conditions of the Loan Documents.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

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