Security Deposit Clause Example with 40 Variations from Business Contracts
This page contains Security Deposit clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Security Deposit. Upon execution of this Sublease, Subtenant shall deposit with Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash as security for Subtenant's full, timely and faithful performance of all of Subtenant's obligations under this Sublease (the "Security Deposit"). If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, and does not cure such failure withi...n the applicable notice and cure periods for a default by Subtenant under this Sublease, Sublandlord 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 Sublandlord may become obligated by reason of Subtenant's default or breach, or for loss or damage sustained by Sublandlord as a result of Subtenant's default or breach. If Sublandlord so uses any portion of the Security Deposit, Subtenant shall, within five (5) business days after written demand by Sublandlord, restore the Security Deposit to the full amount originally deposited, and Subtenant's failure to do so shall constitute a default under this Sublease. Sublandlord 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 Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, shall be returned to Subtenant or to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations shall survive the expiration or earlier termination of this Sublease. Subtenant waives the provisions of California Civil Code section 1950.7, and all other provisions of law now in force or that become in force after the date of execution of this Sublease to the extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Subtenant, or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees.View More
Variations of a "Security Deposit" Clause from Business Contracts
Security Deposit. Upon execution Subtenant covenants to deliver to Sublandlord, within five (5) days of this Sublease, the filing of such reports with any agency, full and complete copies of Subtenant's quarterly financial statements (including, without limitation, any 10K and/or 10Q reports). If such reports are no longer filed for any reason, or if any such report does not clearly disclose that Subtenant's cash balance is equal to or greater than Ten Million Dollars ($10,000,000), then Subtenant shall shall, co...ncurrently with the delivery to Sublandlord of the applicable report (or within five (5) days after the date such report would have otherwise been required to be filed if such report was still required to be filed), deposit with Sublandlord, by wire transfer of immediately available funds, a security deposit in the amount of Five Hundred Thousand Dollars ($500,000) (the "Security Deposit"). The Security Deposit shall be held by Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash as security for Subtenant's full, timely and the faithful performance by Subtenant of all of Subtenant's obligations under the terms, covenants, and conditions of this Sublease (the "Security Deposit"). to be kept and performed by Subtenant during the Sublease Term. If Subtenant fails defaults with respect to pay rent or other charges when due under any provision of this Sublease, or fails Sublease including, but not limited to, any provision relating to perform any the payment of its other obligations hereunder, and does not cure such failure within the applicable notice and cure periods for a default by Subtenant under this Sublease, money, Sublandlord may use or (but shall not be required to) use, retain and apply all or any portion part of the Security Deposit for the payment of any rent or any other amount then due hereunder and unpaid, sum in default, or for the payment of any other sum for amount which Sublandlord may spend or become obligated to spend by reason of Subtenant's default default, or breach, or to compensate Sublandlord for any other loss or damage sustained by which Sublandlord may suffer as a result of Subtenant's default or breach. default. If Sublandlord so uses any portion of the Security Deposit, Deposit is so used or applied, Subtenant shall, within five (5) business days after written demand thereof, deposit with Sublandlord by Sublandlord, wire transfer of immediately available funds an amount sufficient to restore the Security Deposit to the full amount originally deposited, its original amount, and Subtenant's failure to do so shall constitute a material default under this Sublease. Sublease without any notice or cure period. Sublandlord shall not be required to keep the Security Deposit separate from its general accounts, funds, and Subtenant shall have no obligation or liability for payment of not be entitled to interest on the Security Deposit. In the event Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much Any unused portion of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, shall be returned to Subtenant within thirty (30) days following the expiration of the Sublease Term or vacation of the Premises by Subtenant, whichever event occurs last. Subtenant acknowledges and agrees that in the event Subtenant shall file a voluntary petition pursuant to the last assignee, Bankruptcy Code or any successor thereto, or if any, of Subtenant's interest hereunder; provided, however, that an involuntary petition is filed against Subtenant pursuant to the Bankruptcy Code or any successor thereto, then Sublandlord may withhold from such amount a sum equal apply the Security Deposit towards those obligations of Subtenant to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund Sublandlord which accrued prior to Subtenant any excess withheld promptly following Master Landlord's reconciliation the filing of such Additional Rent under the Master Lease, which obligations shall survive the expiration or earlier termination of this Sublease. Subtenant waives the provisions of California Civil Code section 1950.7, and all other provisions of law now in force or that become in force after the date of execution of this Sublease to the extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Subtenant, or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. petition. View More
Security Deposit. Upon execution of this Sublease, (a) The Subtenant shall deposit, and shall maintain on deposit with the Sublandlord at all times during the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) Term, cash in cash an amount equal to $134,043.00 (such deposit is referred to as the "Security Deposit"), as security for Subtenant's full, timely the full and faithful prompt payment, performance and observance by the Subtenant of all of Subtenant's the covenants... and obligations under this Sublease (the "Security Deposit"). If to be paid, performed or observed on the part of the Subtenant fails to pay rent or other charges when due under this Sublease, and for the payment (or partial payment, to the extent the Security Deposit shall be insufficient for full payment) of any and all damages for which the Subtenant shall be liable by reason of any act or fails omission contrary to perform any of its the provisions of this Sublease. Except as otherwise required by applicable law, the Sublandlord may commingle amounts deposited with the Sublandlord under this Section 22 with other obligations hereunder, funds of the Sublandlord and does shall not cure such failure within be obligated to pay any interest thereon. If the Subtenant defaults beyond any applicable notice and cure periods for a default by in the full and prompt payment, performance and observance of any of the covenants and obligations to be paid, performed or observed on the part of the Subtenant under this Sublease, including the payment of Additional Sublease Rent, or any other sums or damages payable under this Sublease, the Sublandlord, at the Sublandlord's election, may use, apply or retain the whole or any part of the Security Deposit, to the extent required for the payment of any such Additional Sublease Rent, or any other sums or damages in respect of which the Subtenant is in default, or for any sum which the Sublandlord may use expend or may be required to expend by reason of the Subtenant's default, including any damages or deficiency in the reletting of the Subleased Premises, whether such damages or deficiency accrue before or after summary proceedings or other re-entry by the Sublandlord. If the Sublandlord shall so use, apply or retain the whole or any part of the Security Deposit, the Subtenant shall, upon demand, immediately deposit with the Sublandlord a sum equal to the amount so used, applied or retained. If, at any time after the payment by the Subtenant to the Sublandlord of any amounts required to be paid by the Subtenant under this Sublease, the Sublandlord is required to return or repay to the Subtenant, for any reason in connection with the bankruptcy or insolvency of the Subtenant, any Additional Sublease Rent, or any other sums paid by the Subtenant to the Sublandlord under this Sublease, then, at the Sublandlord's election, the Security Deposit may be applied by the Sublandlord to offset all or any portion of the amounts so returned or repaid. The Security Deposit for the payment of (or any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublandlord may become obligated by reason of Subtenant's default or breach, or for loss or damage sustained by Sublandlord as a result of Subtenant's default or breach. If Sublandlord so uses any portion of the Security Deposit, Subtenant shall, within five (5) business days after written demand by Sublandlord, restore the Security Deposit to the full amount originally deposited, and Subtenant's failure to do so shall constitute a default under this Sublease. Sublandlord 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 Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much remaining balance of the Security Deposit as is then held by Sublandlord. Within sixty (60) not applied in accordance with this Section 22) shall be returned to the Subtenant within 30 days after the Expiration Date, Date. 11 (b) The Subtenant further covenants that it will not assign or encumber, or attempt to assign or encumber, its interest in the Security Deposit, less any amount and that has been neither the Sublandlord nor its successors or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, assigns shall be returned to Subtenant bound by any such assignment or to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations shall survive the expiration encumbrance, or earlier termination of this Sublease. Subtenant waives the provisions of California Civil Code section 1950.7, and all other provisions of law now in force attempted assignment or that become in force after the date of execution of this Sublease to the extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Subtenant, or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. attempted encumbrance. View More
Security Deposit. Upon execution of this Sublease, Subtenant shall deposit a security deposit in the amount of $21,717.00 with Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash as security for Subtenant's full, timely and faithful performance of all of Subtenant's obligations under this Sublease (the "Security Deposit"). Sublandlord. If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other... obligations hereunder, and does not cure such failure within is in default, Sublandlord can use the applicable notice and cure periods for a default by Subtenant under this Sublease, Sublandlord may use or apply all security deposit or any portion of it to cure 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 Sublandlord may become obligated by reason of Subtenant's default or breach, or to compensate Sublandlord for loss or damage any damages sustained by Sublandlord as resulting from Subtenant's default. Upon demand, Subtenant shall immediately pay to Sublandlord a result of Subtenant's default or breach. If Sublandlord so uses any sum equal to the portion of the Security Deposit, security deposit expended or applied by Sublandlord to restore the security deposit to its full amount. In no event will Subtenant shall, have the right to apply any part of the security deposit to any Rent or other sums due under this Sublease or the Master Lease. If Subtenant is not in default at the expiration or termination of this Sublease, Sublandlord shall return the security deposit to Subtenant within five (5) business forty-five (45) days after written demand by Sublandlord, restore the Security Deposit expiration of the Sublease. Sublandlord's obligations with respect to the full amount originally deposited, deposit are those of a debtor and Subtenant's failure to do so shall constitute not of a default under this Sublease. trustee, and Sublandlord can commingle the security deposit with Sublandlord's general funds. Sublandlord shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of pay Subtenant interest on the Security Deposit. deposit. Sublandlord shall be entitled to immediately endorse and cash Subtenant's prepaid deposit; however, such endorsement and cashing shall not constitute Sublandlord's acceptance of this Sublease. In the event Master Landlord or Sublandlord assigns its interest in does not accept this Sublease, Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by return said prepaid deposit. 2 5. Parking. Subtenant under this Sublease, shall be returned entitled, subject to Subtenant or to the last assignee, if any, all provisions contained in Section 14.18 of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations shall survive the expiration or earlier termination to 74 unassigned parking spaces (based upon 6.0 unassigned parking spaces per 1,000 square feet of this Sublease. Subtenant waives the provisions of California Civil Code section 1950.7, and all other provisions of law now in force or that become in force after the date of execution of this Sublease to the extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Subtenant, or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. Floor Area). View More
Security Deposit. Upon To secure the faithful performance by Subtenant of all the covenants, conditions and agreements in this Sublease set forth and contained on the part of Subtenant to be fulfilled, kept, observed and performed, simultaneously with Subtenant's execution of this Sublease, Subtenant shall deliver to Sublandlord a security deposit with Sublandlord in the sum amount of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash as security for Subtenant's full, t...imely and faithful performance of all of Subtenant's obligations under this Sublease $11,164.50 (the "Security Deposit"). If Subtenant fails defaults with respect to pay rent or other charges when due under any provision of this Sublease, or fails to perform including without limitation the payment of any of its other obligations hereunder, and does not cure such failure within the applicable notice and cure periods for a default by Subtenant under this Sublease, Rent, then Sublandlord may use use, apply, draw upon or apply retain all or any part of the Security Deposit to the extent necessary for the payment of any rent, or to compensate Sublandlord for any other loss, cost or damage that Sublandlord may suffer by reason of Subtenant's default. If any portion of the Security Deposit for is so used, applied, or drawn upon as permitted in accordance with the payment of any rent or other amount terms hereof, then due hereunder and unpaid, for the payment of any other sum for which Sublandlord may become obligated by reason of Subtenant's default or breach, or for loss or damage sustained by Sublandlord as a result of Subtenant's default or breach. If Sublandlord so uses any portion of the Security Deposit, Subtenant shall, within five (5) business 10 days after written demand by Sublandlord, notice thereof, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the full amount originally deposited, and its original amount. Subtenant's failure to do so shall constitute a default be an automatic Event of Default under this Sublease. Sublease without any additional notice. Sublandlord shall not not, unless otherwise required by law, be required to keep the Security Deposit separate from its general accounts, funds, nor pay interest to Subtenant. If Subtenant shall fully and shall have no obligation or liability for payment faithfully perform every provision of interest on the Security Deposit. In the event Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver Sublease to its assignee so much of be performed by it, the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less or any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, balance thereof (if any) shall be returned to Subtenant or (or to the last assignee, if any, transferee of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under hereunder) after the Master Lease, which obligations shall survive the expiration or earlier Expiration Date (or sooner termination of this Sublease. Sublease), provided that Subtenant waives vacates the provisions of California Civil Code section 1950.7, and all other provisions of law now Sublease Space in force or that become in force after the date of execution of accordance with this Sublease and Subtenant surrenders possession thereof to Sublandlord in the condition required under this Sublease. 5 6. Condition of Sublease Space. Subtenant agrees that, except as otherwise expressly set forth in Section 15, the Sublease Space shall be taken "AS IS", with "ALL FAULTS" and "WITHOUT ANY REPRESENTATION OR WARRANTIES". Sublandlord shall not be required to perform any demolition work, improvement work or tenant-finish work in the Sublease Space or to provide any allowances therefor. Subtenant hereby acknowledges and agrees that it has investigated and inspected the condition of the Sublease Space and the suitability of same for Subtenant's purposes. Subtenant hereby waives and disclaims any objection or cause of action based upon, or claim that its obligations hereunder should be reduced or limited because of, the physical condition of the Sublease Space or the suitability of same for Subtenant's purposes. Subtenant acknowledges that neither Sublandlord nor any agents or employees of Sublandlord has made any representations or warranties with respect to the physical condition of the Sublease Space or with respect to the suitability of the same for Subtenant's purposes. Subtenant expressly represents and warrants that Subtenant has relied solely on its own investigation and inspection of the Sublease Space in its decision to enter into the Sublease and let the Sublease Space in its "AS IS" condition. Any approved alterations or work performed in the Sublease Space shall be done at Subtenant's sole cost and expense and shall be performed in a good and workmanlike manner and in compliance with all applicable law, building codes, and regulations. Throughout the Sublease Term, Subtenant shall, at its sole cost and expense, maintain the Sublease Space in good condition and repair, and shall promptly perform all necessary repairs and replacements to the extent they provide that required of Sublandlord may claim from a security deposit only those sums reasonably necessary with respect to remedy defaults in the payment of rent, to repair damage caused by Subtenant, or to clean the Sublease Premises. Space under the Prime Lease. If Subtenant fails to make any such repairs or replacements promptly, then Sublandlord has the right to make such repairs or replacements following ten business days' notice to Subtenant and such expense shall be collectible as Additional Rent and be paid by Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission within thirty days of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. a bill therefor. View More
Security Deposit. Upon execution Subtenant shall deliver to Sublandlord a security deposit for two (2) months' Base Rent and related Direct Expenses in the total amount of $286,413.84(the "Security Deposit") to secure the faithful observance and performance by Subtenant of the terms and conditions of this Sublease, Sublease. If there is an Event of Default (as defined in Article 19 of the Master Lease) by Subtenant shall deposit with Sublandlord in the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve ...and 75/100 Dollars ($123,912.75) in cash as security for Subtenant's full, timely and faithful observance or performance of all of Subtenant's obligations under this Sublease (the "Security Deposit"). If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, such terms and does not cure such failure within conditions beyond the applicable date of any notice and cure periods period for a default by Subtenant under this Sublease, such Event of Default, Sublandlord may use or apply all or any portion part of the Security Deposit for the payment of any rent Sublease Rent not paid when due or other amount then due hereunder and unpaid, for the payment of any other sum for which amounts due Sublandlord may become obligated by reason of such Event of Default, including any costs of Sublandlord's observing or performing such terms or conditions on Subtenant's default behalf and any deficiencies in reletting or breach, or for loss or damage sustained damages incurred by Sublandlord as a result of Subtenant's default or breach. Sublandlord. If Sublandlord so uses shall use or apply all or any portion part of the Security Deposit, Subtenant shall, within five (5) business days after written demand by following notice from Sublandlord, deliver to Sublandlord additional funds so as to restore the Security Deposit to the full to the amount originally deposited, and Subtenant's failure to do before such application of funds by Sublandlord. The Security Deposit, or so shall constitute a default under this Sublease. Sublandlord much thereof as shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation been used or liability for payment of interest on the Security Deposit. In the event Sublandlord assigns its interest applied in accordance with this Sublease, Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, Section 6, shall be returned to Subtenant no later than thirty (30) days following the later of: (i) the expiration or sooner termination of this Sublease, and (ii) the surrender of the Sublease Premises to Sublandlord vacant and in accordance with this Sublease. Subtenant hereby waives the last assignee, if any, provisions of Subtenant's Section 1950.7 of the California Civil Code. If Sublandlord shall transfer the Security Deposit to an assignee of Sublandlord's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations the Sublandlord making such transfer and assignment shall survive be deemed released from all liability to Subtenant with respect to the expiration Security Deposit or earlier termination the return thereof, and Subtenant agrees to look solely to the transferee and assignee with respect thereto. Subtenant shall not assign (other than to an assignee of this Sublease. Subtenant waives the provisions of California Civil Code section 1950.7, and all other provisions of law now in force Sublease) or that become in force after the date of execution of this Sublease to the extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults encumber its interest in the payment of rent, to repair damage caused by Subtenant, Security Deposit and no such assignment or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable encumbrance shall be valid or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. binding upon Sublandlord. View More
Security Deposit. Upon Simultaneously with the execution of this Sublease, Subtenant shall pay to and deposit with Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash $25,000 (the "Security Deposit"). Sublandlord shall hold the Security Deposit throughout the term of this Sublease as security for Subtenant's full, timely and faithful the performance by Subtenant of all obligations on the part of Subtenant's obligations under this Sublease (the "Sec...urity Deposit"). If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, and does not cure such failure within the applicable notice and cure periods for a default by Subtenant under this Sublease, Sublandlord may use or apply all or any portion of the hereunder. The Security Deposit for the payment of any shall not be deemed an advance rent deposit or other amount then due hereunder and unpaid, for the an advance payment of any other sum for which kind, or a measure or limitation of Sublandlord's damages or constitute a bar or defense to any of Sublandlord's other remedies under this Sublease or at law or in equity upon Subtenant's default. Sublandlord shall have the right from time to time, without prejudice to any other remedy Sublandlord may become obligated by reason have on account thereof, to apply such deposit, or any part thereof, to Sublandlord's damages arising from, or to cure, any default of Subtenant's default or breach, or for loss or damage sustained by Sublandlord as a result of Subtenant's default or breach. Subtenant. If Sublandlord shall so uses apply any portion or all of the Security Deposit, Subtenant shall, shall within five (5) business ten (10) days after written demand by Sublandlord, restore from Sublandlord deposit with Sublandlord the Security Deposit amount so applied to the full amount originally deposited, and Subtenant's failure to do so shall constitute a default under this Sublease. Sublandlord 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 replenish the Security Deposit. In the event Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, return the Security Deposit, less any amount that has or so much thereof as shall not have theretofore been or can be applied by Sublandlord as a result in accordance with the terms of any uncured default by Subtenant under this Sublease, shall be returned Section 7, to Subtenant or to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations shall survive on the expiration or earlier termination of this Sublease. Subtenant waives the provisions of California Civil Code section 1950.7, and all other provisions of law now in force or that become in force after the date of execution Term of this Sublease and surrender of possession of the Sublet Premises by Subtenant to Sublandlord at such time, provided that if there is then existing a default (or any circumstance which, with the extent they provide that passage of time or the giving of notice, or both, would constitute a default), Sublandlord may claim from shall retain a security deposit only those sums reasonably necessary portion of the Security Deposit sufficient to remedy defaults cure such default and shall return the remainder of the Security Deposit to Subtenant within thirty (30) days after the Termination Date. While Sublandlord holds the Security Deposit, Sublandlord shall have no obligation to pay interest on the same and shall have the right to commingle the same with Sublandlord's other funds. If Sublandlord conveys Sublandlord's interest under this Sublease, the Security Deposit, or any part thereof not previously applied, shall be turned over by Sublandlord to Sublandlord's grantee, and, if so turned over, Subtenant agrees to look solely to such grantee for proper application of the Security Deposit in accordance with the payment terms of rent, to repair damage caused by Subtenant, or to clean this Section 7, and the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, return thereof in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. accordance herewith. View More
Security Deposit. 4.1 Upon the execution of this Sublease, Subtenant shall pay to Sublandlord a security deposit with Sublandlord in the sum amount of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash as security for Subtenant's full, timely and faithful performance of all of Subtenant's obligations under this Sublease $73,180.00 (the "Security Deposit"). If Subtenant fails to pay rent or other charges when due has not been in default under this Sublease, or fails Subl...ease as of the end of the first year of the Term, Landlord agrees to perform reduce the Security Deposit, effective as of the first day of the second year of the Term, to $54,885, and shall return to Subtenant $18,295.00 of the Security Deposit then held by Sublandlord; provided, however, if Subtenant has been in default under this Sublease during the first year of the Term, the Security Deposit will not be so reduced. Upon expiration of the Term, as long as Subtenant is not in default under this Sublease Sublandlord shall return the Security Deposit to Subtenant not later than 30 days thereafter, after deducting in good faith the reasonable amounts needed to make good any of its other obligations hereunder, and does not cure such failure within the applicable notice and cure periods for a default by Subtenant under this Sublease, Subtenant. Sublandlord may use or shall have the right, but not the obligation, after five days prior notice to Subtenant, to apply all or any portion of the Security Deposit for the payment of to cure any rent or other amount then due hereunder and unpaid, for the payment of Subtenant default at any other sum for time, in which Sublandlord may become case Subtenant shall be obligated by reason of Subtenant's default or breach, or for loss or damage sustained by Sublandlord as a result of Subtenant's default or breach. If Sublandlord so uses any portion of the Security Deposit, Subtenant shall, within five (5) business days after written demand by Sublandlord, to restore the Security Deposit to the full its original amount originally deposited, and Subtenant's failure to do so shall constitute a default under this Sublease. Sublandlord 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 Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, shall be returned to Subtenant or to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations shall survive the expiration or earlier termination of this Sublease. within ten (10) business days. Subtenant waives the provisions of Section 1950.7 of the California Civil Code section 1950.7, Code, and all other provisions of law law, now or hereafter in force or that become in force after the date of execution of this Sublease to the extent they force, which provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Subtenant, Subtenant or to clean the Sublease Premises. Sublandlord and Subtenant agree Premises, it being agreed that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission defaults of Subtenant under this Sublease. 4.2 Sublandlord agrees that Subtenant shall deliver $18,295.00 of the Security Deposit in the form of a cash deposit concurrently with the execution of this Sublease, and within five (5) business days following execution of this Sublease, Subtenant shall deliver $54,885.00 of the Security Deposit in the form of an unconditional and irrevocable letter of credit (the "Letter of Credit"). The Letter of Credit shall (a) be in the amount of $54,885.00, (b) be in form and substance reasonably satisfactory to Sublandlord, (c) name Sublandlord as its beneficiary, (d) expressly allow Sublandlord to draw upon it at any time or Subtenant's officers, agents, employees, independent contractors, from time to time following an event of default in the amount of the applicable default by delivering to the issuer written notice, (e) be drawn on an FDIC-insured financial institution reasonably satisfactory to Sublandlord with a branch office in San Francisco, CA, (f) be freely transferable by Sublandlord, and (g) have an expiration date of not earlier than the expiration date of this Sublease, or invitees. provides for automatic renewals through the expiration date of this Sublease. If Sublandlord is not provided with a substitute Letter of Credit complying with all of the requirements hereof at least ten (10) days before the applicable expiration date of the existing Letter of Credit, then Sublandlord shall have the right to draw under such Letter of Credit then held by Sublandlord and hold such funds as a cash security deposit in accordance with the terms of this Article 4. 4.3 Sublandlord shall keep the $18,295 of the Security Deposit that will be delivered in the form of a cash deposit in a separate account from its general accounts. Unless otherwise expressly agreed in writing by Sublandlord, no part of the Security Deposit shall be considered to be held in trust, to bear interest, or to be prepayment for any monies to be paid by Subtenant under this Sublease. If Sublandlord keeps the Security Deposit in an interest bearing account, all interest shall accrue for the benefit of Sublandlord. View More
Security Deposit. Upon execution Subtenant shall deliver to Sublandlord a security deposit in the amount of $5,250.00 (the "Security Deposit") to secure the faithful observance and performance by Subtenant of the terms and conditions of this Sublease, Sublease. If there is an Event of Default (as defined in Article 19 of the Master Lease) by Subtenant shall deposit with Sublandlord in the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash as security for Subtenan...t's full, timely and faithful observance or performance of all of Subtenant's obligations under this Sublease (the "Security Deposit"). If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, such terms and does not cure such failure within conditions beyond the applicable date of any notice and cure periods period for a default by Subtenant under this Sublease, such Event of Default, Sublandlord may use or apply all or any portion part of the Security Deposit for the payment of any rent Sublease Rent not paid when due or other amount then due hereunder and unpaid, for the payment of any other sum for which amounts due Sublandlord may become obligated by reason of such Event of Default, including any costs of Sublandlord's observing or performing such terms or conditions on Subtenant's default behalf and any deficiencies in reletting or breach, or for loss or damage sustained damages incurred by Sublandlord as a result of Subtenant's default or breach. Sublandlord. If Sublandlord so uses shall use or apply all or any portion part of the Security Deposit, Subtenant shall, within five (5) three (3) business days after written demand by following notice from Sublandlord, deliver to Sublandlord additional funds so as to restore the Security Deposit to the full to the amount originally deposited, and Subtenant's failure to do before such application of funds by Sublandlord. The Security Deposit, or so shall constitute a default under this Sublease. Sublandlord much 4 thereof as shall not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation been used or liability for payment of interest on the Security Deposit. In the event Sublandlord assigns its interest applied in accordance with this Sublease, Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, Section 6, shall be returned to Subtenant no later than thirty (30) days following the later of: (i) the expiration or sooner termination of this Sublease, and (ii) the surrender of the Sublease Premises to Sublandlord vacant and in accordance with this Sublease. Subtenant hereby waives the last assignee, if any, provisions of Subtenant's Section 1950.7 of the California Civil Code. If Sublandlord shall transfer the Security Deposit to an assignee of Sublandlord's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations the Sublandlord making such transfer and assignment shall survive be deemed released from all liability to Subtenant with respect to the expiration Security Deposit or earlier termination the return thereof, and Subtenant agrees to look solely to the transferee and assignee with respect thereto. Subtenant shall not assign (other than to an assignee of this Sublease. Subtenant waives the provisions of California Civil Code section 1950.7, and all other provisions of law now in force Sublease) or that become in force after the date of execution of this Sublease to the extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults encumber its interest in the payment of rent, to repair damage caused by Subtenant, Security Deposit and no such assignment or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable encumbrance shall be valid or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. binding upon Sublandlord. View More
Security Deposit. Upon Concurrently with the execution of this Sublease, Subtenant shall deposit with Sublandlord the sum of One Million Four Hundred Twenty-Three Seventy-Five Thousand Nine Four Hundred Twelve Thirty-Six and 75/100 00/100 Dollars ($123,912.75) in cash ($1,475,436.00) ("Deposit"). which shall be held by Sublandlord as security for Subtenant's full, timely the full and faithful performance by Subtenant of its covenants and obligations under this Sublease, provided that Sublandlord agrees to return ...the Deposit to Subtenant in exchange for a letter of credit in favor of Sublandlord in form approved by Sublandlord if Subtenant elects to provide such a letter of credit. The Deposit is not an advance Rent deposit, an advance payment of any other kind, or a measure of Sublandlord's damage in case of Subtenant's Default. If Subtenant Defaults in the full and timely performance of any or all of Subtenant's covenants and obligations under this Sublease (the "Security Deposit"). If Subtenant fails to pay rent or other charges when due under set forth in this Sublease, or fails then Sublandlord may, from time to perform time, without waiving any of its other obligations hereunder, and does not cure such failure within remedy available to Sublandlord, use the applicable notice and cure periods for a default by Subtenant under this Sublease, Sublandlord may use or apply all Deposit, or any portion of it, to the Security Deposit extent necessary to cure or remedy the Default or to compensate Sublandlord for all or a part of the payment of any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublandlord may become obligated by reason of Subtenant's default or breach, or for loss or damage damages sustained by Sublandlord as a result of resulting from Subtenant's default or breach. If Default. Subtenant shall immediately pay to Sublandlord so uses any portion of the Security Deposit, Subtenant shall, within five (5) business days after written demand by Sublandlord, following demand, the amount so applied in order to restore the Security Deposit to the full amount originally deposited, its original amount, and Subtenant's failure to immediately do so shall constitute a default Default under this Sublease. If Subtenant is not in Default with respect to the covenants and obligations set forth in this Sublease at the expiration or earlier termination of the Sublease. Sublandlord shall not be required to keep return 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 Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, shall be returned to Subtenant or to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations shall survive after the expiration or earlier termination of this Sublease. Sublandlord's obligations with respect to the Deposit are those of a debtor and not a trustee. Sublandlord shall not be required to maintain the Deposit separate and apart from Sublandlord's general or other funds and Sublandlord may commingle the Deposit with any of Sublandlord's general or other funds. Subtenant waives shall not at any time be entitled to interest on the provisions Deposit. 4 10. Signage. Subtenant is granted the right to install any signage permitted pursuant to Article 23 of California Civil Code section 1950.7, the Master Lease, including "Building Top Signage" as defined therein, an appropriate sign identifying Subtenant in the ground floor lobby and on the third (3rd) and fourth (4th) floors as well as the second (2nd) floor following the Second Floor Commencement Date, and on the Building monument signage and the Building directory if such directory exists, subject to Landlord's and Sublandlord's prior written approval, which approval shall not be unreasonably withheld, delayed or conditioned. Except for the foregoing. Subtenant shall have no right to maintain Subtenant identification signs in any other location in, on, or about the Premises. The size, design, color and other physical aspects of all such permitted signs shall also be subject to Landlord's and Sublandlord's prior written approval, which approval shall not be unreasonably withheld, delayed or conditioned and shall also be subject to any covenants, conditions or restrictions encumbering the Sublease Premises and any applicable municipal or other provisions governmental permits and approvals. The cost of law now in force all such signs, including the installation, maintenance and removal thereof, shall be at Subtenant's sole cost and expense. If Subtenant fails to maintain its signs, or that become in force after if Subtenant fails to remove same upon the date of execution expiration or earlier termination of this Sublease to the extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to and repair any damage caused by Subtenant, or to clean the Sublease Premises. such removal. Sublandlord may do so at Subtenant's expense and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate shall reimburse Sublandlord for any other foreseeable or unforeseeable loss or damage caused all actual costs incurred by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. Sublandlord to effect such removal. View More
Security Deposit. Upon execution of this Sublease, Subtenant Sublease by Subtenant, it shall deposit with pay to Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash $10,205.00 (such amount, together with any interest theretofore earned thereon, if any, being herein called the "Security Deposit") as security for Subtenant's full, the full and timely payment and faithful performance of all of Subtenant's obligations under this Sublease (the "Security... Deposit"). Sublease. If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform in a full and timely manner any of its other obligations hereunder, and does not cure such failure within the under this Sublease beyond all applicable notice and cure periods for a default by Subtenant under this Sublease, periods, Sublandlord may use or apply all or any portion of the Security Deposit toward curing any such failure and, to the extent such amounts are due and owing to Sublandlord pursuant to the terms of this Sublease, compensating Sublandlord for the payment of any rent loss, damage or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublandlord may become obligated by reason of Subtenant's default or breach, or for loss or damage sustained by Sublandlord as a result of Subtenant's default or breach. expenses arising from such failure. If Sublandlord so uses applies any portion of the Security Deposit, Subtenant shall, within five (5) business days after written demand by Sublandlord, shall immediately pay to Sublandlord the amount necessary to restore the Security Deposit to the full amount originally deposited, its original amount, and Subtenant's failure to do so shall constitute a default under this Sublease. automatically be deemed an Event of Default, without the need for additional notice and/or cure periods. Sublandlord may commingle the Security Deposit with Sublandlord's funds and shall not be required obligated to keep the Security Deposit separate from its general accounts, and shall have no obligation or liability for payment of pay interest on the Security Deposit. In the event Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver Deposit to its assignee so much of the Security Deposit as is then held by Sublandlord. Subtenant. Within sixty (60) thirty (30) days after the Expiration Date, the Security Deposit, less any amount that has been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, shall be returned to Subtenant or to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of any unbilled amount of Additional Rent, and shall refund to Subtenant any excess withheld promptly following Master Landlord's reconciliation of such Additional Rent under the Master Lease, which obligations shall survive the expiration or earlier termination of this Sublease. Sublease and the vacating of the Subleased Premises by Subtenant waives in accordance with Section 19 below, Sublandlord shall return any remaining balance of the provisions of California Civil Code section 1950.7, and all other provisions of law now Security Deposit to Subtenant. If Sublandlord assigns its interest in force or that become in force after the date of execution of this Sublease to an assignee that assumes the extent they provide that obligation of Sublandlord may claim from a security deposit in writing and transfers the Security Deposit (or any balance thereof) to its assignee, Subtenant shall look only those sums reasonably necessary to remedy defaults in such assignee for the payment application and return of rent, to repair damage caused by Subtenant, or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Sublandlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. Security Deposit. View More
