Appropriation of Security Deposit Sample Clauses

Appropriation of Security Deposit. Upon occurrence of a Licensee’s Default, Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Security Deposit, and in case of appropriation of the entire Security Deposit provide a fresh Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Security Deposit as aforesaid failing which Maha-Metro shall be entitled to terminate this Agreement. Upon replenishment or furnishing of a fresh Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, Maha-Metro shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 15.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security and/or the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Performance Security and/or the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security and/or the Security Deposit, and in case of appropriation of the entire Performance Security and/or the Security Deposit provide a fresh Performance Security and/or the Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Performance Security and/or the Security Deposit as aforesaid failing which the Maha-Metro shall be entitled to terminate this Agreement. Upon replenishment or furnishing of a fresh Performance Security and/or the Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, the Maha-Metro shall be entitled to encash and appropriate such Security Deposit as Damages, and to terminate this Agreement in accordance with “ARTICLE 17
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Appropriation of Security Deposit. 3.2.1 If the Tenant fails to punctually observe and/or perform its obligations under this Agreement and/or the Tenant is in breach and/or default of any provisions of this Agreement the Landlord may in its absolute discretion apply/appropriate so much of the Security Deposit as it thinks fit to make good and/or to compensate it for loss or damage sustained or suffered by the Landlord due to or arising from such breach. Any appropriation by the Landlord shall not be deemed to be a waiver of the Landlord’s claim for any outstanding monies owing by the Tenant to the Landlord and/or other remedies or rights conferred upon the Landlord in law or in equity or under this Agreement in respect of the Tenant’s breach and/or default and shall not in any way prejudice any other remedies and/or rights of the Landlord arising from such breach and/or default by the Tenant.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial
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Appropriation of Security Deposit. Upon the CMRL/LICENSOR being of the view that the Licensee has committed any breach or default of this Agreement, CMRL/LICENSOR shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as loss/damages for such breach or default. Upon such encashment and appropriation from the Performance Security, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Security Deposit, and in case of appropriation of the entire Security Deposit provide a new Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Security Deposit as aforesaid failing which CMRL/LICENSOR shall be entitled to terminate this Agreement and forfeit the remaining amounts of the Security Deposit, if any.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its
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Appropriation of Security Deposit. Upon occurrence of a O&M Operator Event of Default, Kannur Airport shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to appropriate the relevant amounts from the Performance Security as damages for such O&M Operator Event of Default. Upon such appropriation from the Performance Security, the O&M Operator shall, within 15 (fifteen) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide afresh Performance Security, and the O&M Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which Kannur Airport shall be entitled to terminate this Contract in accordance with Article 18. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the O&M Operator shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the O&M Operator Event of Default, and in the event of the O&M Operator not curing its default within such Cure Period, Kannur Airport shall be entitled to appropriate such Performance Security as damages, and to terminate this Contract in accordance with Article 18. Further, Kannur Airport shall be at liberty to invite for bids at the risks and costs of the O&M Operator. 14 CHARGE S FOR CARGO HANDLING SE RVICE S
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Appropriation of Security Deposit. 6.1.1 The Lessee has, simultaneous with the execution of this Seabed lease deed agreement, furnished to the Lessor a refundable security deposit of 1 Million USD.
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Appropriation of Security Deposit. 13.2.1. Upon occurrence of a Licensee’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Security Deposit, the Licensee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Security Deposit, and in case of appropriation of the entire Security Deposit provide a fresh Security Deposit, as the case may be, and the Licensee shall, within the time so granted, replenish or furnish fresh Security Deposit as aforesaid failing which the Authority shall be entitled to terminate this Agreement. Upon replenishment or furnishing of a fresh Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Security Deposit as Damages, and to terminate this Agreement in accordance with “ARTICLE 17: BREACHES, EVENTS OF DEFAULT, SURRENDER AND TERMINATION OF LICENSE AGREEMENT”.
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Related to Appropriation of Security Deposit

  • Return of Security Deposit (a) We must return your security deposit and any accrued interest in the following circumstances:

  • Security Deposit Tenant hereby deposits with Landlord the sum of $9,955.00 (hereinafter referred to as “Collateral”), as security for the prompt, full and faithful performance by Tenant of each and every provision of this Lease and of all obligations of Tenant hereunder. No interest shall be paid to Tenant on the Collateral, and Landlord shall have the right to commingle the Collateral with Landlord’s other funds. If Tenant fails to perform any of its obligations hereunder, Landlord may use, apply or retain the whole or any part of the Collateral for the payment of (a) any rent or other sums of money which Tenant may not have paid when due, (b) any sum expended by Landlord on Tenant’s behalf in accordance with the provisions of this Lease, and/or (c) any sum which Landlord may expend or be required to expend by reason of Tenant’s default, including, without limitation, any damage or deficiency in or from the reletting of the Premises as provided in Paragraph 21. The use, application or retention of the Collateral, or any portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law (it being intended that Landlord shall not first be required to proceed against the Collateral) and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. If any portion of the Collateral is used, applied or retained by Landlord for the purposes set forth above, Txxxxx agrees, within ten days after the written demand therefor is made by Landlord, to deposit cash with the Landlord in an amount sufficient to restore the Collateral to its original amount. If Tenant shall fully and faithfully comply with all of the provisions of this Lease, the Collateral, or any balance thereof, shall be returned to Tenant without interest after the expiration of the Term or upon any later date after which Txxxxx has vacated the Premises. In the absence of evidence satisfactory to Landlord of any permitted assignment of the right to receive the Collateral, or of the remaining balance thereof, Landlord may return the same to the original Tenant, regardless of one or more assignments of Tenant’s interest in this Lease or the Collateral. In such event, upon the return of the Collateral, or the remaining balance thereof to the original Tenant, Landlord shall be completely relieved of liability under this Paragraph 24 or otherwise with respect to the Collateral. Tenant acknowledges that Lxxxxxxx has the right to transfer or mortgage its interest in the Land and the Building and in this Lease and Txxxxx agrees that in the event of any such transfer or mortgage, Landlord shall have the right to transfer or assign the Collateral to the transferee or mortgagee. Upon written acknowledgement of transferee’s or mortgagee’s receipt of such Collateral, Landlord shall thereby be released by Tenant from all liability or obligation for the return of such Collateral and Tenant shall look solely to such transferee or mortgagee for the return of the Collateral. The Collateral shall not be mortgaged, assigned or encumbered in any manner whatsoever by Tenant without the prior written consent of Landlord.

  • Protection of Security Each Grantor shall, at its own cost and expense, take any and all actions necessary to defend title to the Collateral against all persons and to defend the Security Interest of the Collateral Agent in the Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the Credit Agreement.

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