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 of this Sublease, the Commencement Date, Subtenant shall deposit with Sublandlord the sum amount of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash $100,000.00 as security for Subtenant's full, timely and faithful performance of all of Subtenant's obligations under this Sublease ("Security Deposit"). Provided no default by Subtenant has occurred under the Sublease as of August 1, 2013, the Security Deposit shall be reduced to the amou...nt of $60,000.00, by a credit provided to Subtenant against the payment of Rent next due under this Sublease (the "Security Deposit"). "First Deposit Credit"). Thereafter, provided no default by Subtenant has occurred under the Sublease as of August 1, 2014, the Security Deposit shall be reduced to the amount of $20,000.00, by a credit provided to Subtenant against the payment of Rent next due under this Sublease (the "Second Deposit Credit"). At the same time and on the same conditions that the First Deposit Credit is provided to Subtenant, Sublandlord shall also provide a credit to Subtenant for an amount equal to interest on $80,000.00 of the Security Deposit, calculated at the rate of 2.75% per annum, and at the same time and on the same conditions that the Second Deposit Credit is provided to Subtenant, Sublandlord shall also provide a credit to Subtenant for an amount equal to interest on $40,000.00 of the Security Deposit, calculated at the rate of 2.75% per annum. Sublandlord shall not in any event be obligated to pay or credit any interest to Subtenant on the first $20,000.00 of the Security Deposit. If any default by Subtenant under this Sublease has occurred prior to the applicable dates set forth above, Subtenant shall not be entitled to reduce its Security Deposit at any time during the Term of this Sublease, nor shall Subtenant be entitled in that event to any credit for interest on any portion of the Security Deposit. If Subtenant fails to pay rent Base Rent or any other charges when due under this Sublease, Sublease or fails to perform any of its other obligations hereunder, under this Sublease and does not cure such failure within the continues beyond 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 for the payment of any rent Rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Sublandlord may become obligated by reason because of Subtenant's default or breach, or for any 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, Deposit as set forth above, Subtenant shall, within five (5) business ten (10) days after written demand by Sublandlord, restore the Security Deposit to the full amount originally deposited, and deposited. Subtenant's failure to do so shall will constitute a default under this Sublease. Sublandlord shall will not be required to keep the Security Deposit separate from its general accounts, accounts and shall will have no obligation or liability for payment of interest on the Security Deposit. In the event If Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so as much of the Security Deposit as is Sublandlord then held by Sublandlord. holds. Within sixty (60) thirty (30) days after the Expiration Date, expiration or termination of this Sublease, provided that Subtenant is not then in default under this Sublease, the Security Deposit, less any amount or as much as remains that has not been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, shall Sublandlord, will 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
Security Deposit. Upon execution of (a) On the date Subtenant executes 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 ONE HUNDRED SIXTY THOUSAND NINE HUNDRED FORTY AND 42/100 DOLLARS ($160,940.42) (the "Security Deposit") as security for Subtenant's full, timely the performance and faithful performance observance by Subtenant of all the terms, covenants and conditions of Subtenant's obligations under... this Sublease. The Security Deposit need not be deposited in a separate account, but instead may be commingled with Sublandlord's own funds. Sublandlord shall deposit the Security Deposit in an interest-bearing account and interest accrued on the Security Deposit shall be annually paid to Subtenant at the end of the Sublease (the "Security Deposit"). term if the Security Deposit is returned pursuant to this Sublease. Sublandlord shall have no liability for loss of the Security Deposit or any interest as a result of any failure by the depositary. (b) If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform defaults in the performance and observance of any of its other obligations hereunder, the terms, covenants and does not cure such failure within the applicable notice and cure periods for a default by Subtenant under conditions of this Sublease, Sublandlord may use use, apply or apply all retain the whole or any portion part of the Security Deposit to the extent required for the payment of any rent installment of Rent or other amount then due hereunder and unpaid, Additional Rent as to which Subtenant is in default or for the payment of any other sum for which Sublandlord may become obligated expend or may be required to expend by reason of Subtenant's default in respect of any of the terms, covenants and conditions of this Sublease, including, without limitation, any damages or breach, deficiency in the reletting of the Sublease Premises, whether such damages or for loss deficiency accrued before or damage sustained after summary proceedings or other reentry by Sublandlord. In the case of every such use, application or retention of any such sum, Subtenant on demand, shall pay to Sublandlord as a result Additional Rent the sum so used, applied or retained which shall be added to the Security Deposit so that the same shall be restored to its original amount. (c) If Subtenant shall fully and faithfully comply with all the terms, covenants and conditions of Subtenant's default or breach. If Sublandlord so uses any portion this Sublease, the Security Deposit shall be returned to Subtenant after the expiration date and delivery of exclusive possession of the Security Deposit, Subtenant shall, within five (5) business days after written demand by Sublandlord, restore Sublease Premises to Sublandlord. In the event of an assignment of Sublandiord's rights under the Overlease, or any part thereof which includes the Sublease Premises, Sublandlord shall transfer the Security Deposit to the full amount originally deposited, assignee and Subtenant's failure to do so shall constitute a default under this Sublease. Sublandlord shall not be required to keep released by Subtenant from all liability for the return of such Security Deposit separate from its general accounts, and shall have no obligation or liability Subtenant agrees to look solely to the assignee 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 return 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. Deposit.] View More
Security Deposit. Upon Within three (3) business days after mutual execution of this Sublease, Subtenant shall deposit with Sublandlord an amount equal to $785,433.06 (the "Security Deposit") which may be in the sum form of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash which shall be held by Sublandlord as security for Subtenant's full, timely and the faithful performance by Subtenant of all the terms, covenants and conditions of Subtenant's obligations under this ...Sublease (the "Security Deposit"). to be kept and performed by Subtenant. If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform defaults beyond any of its other obligations hereunder, and does not cure such failure within the 4 applicable notice and grace and/or cure periods for a default by Subtenant under period with respect to any provision of this Sublease, Sublandlord may use or apply all or any portion part of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaid, for the payment of any other sum in default, or to compensate Sublandlord for any other loss or damage which Sublandlord may incur, 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 which Sublandlord may suffer by Sublandlord as a result reason of Subtenant's default or breach. default. If Sublandlord so uses any portion of the Security Deposit, is so used, Subtenant shall, shall within five (5) three (3) business days after written demand by Sublandlord, therefor, deposit with Sublandlord 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 be a default under material breach of this Sublease. Sublandlord Subtenant shall not be required entitled to keep the interest on such deposit. The Security Deposit separate from its general accounts, shall not be deemed to be trust funds and shall have no obligation or liability for payment may be commingled with other funds 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 Sublandlord. 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, remaining balance thereof 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 within thirty (30) days after termination of this Sublease, after deducting for damages (if any) permitted under 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
Security Deposit. Upon execution of this Sublease, Subtenant shall deposit has previously deposited with Sublandlord (and Sublandlord hereby acknowledges receipt of) a cash deposit equal to $[***] for the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve Original Subleased Premises (the "Deposit") and 75/100 Dollars ($123,912.75) in shall not be required to deposit any additional cash as deposit. Such Deposit shall be security for Subtenant's full, timely and faithful performance of all of Subtenant's ...obligations under this Sublease (the "Security Deposit"). hereunder. If Subtenant fails to pay rent or other charges when due under this Sublease, hereunder, or fails otherwise defaults with respect to perform any provision 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 may, upon notice to Subtenant and the expiration of five (5) days, 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, charge in default, or for the payment of any other sum for losses or damages which Sublandlord may become obligated reasonably incurs 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. default. If Sublandlord so uses or applies all or any portion of the Security Deposit, Deposit for the purposes set forth herein, Subtenant shall, shall within five (5) ten (10) business days after written demand by Sublandlord, therefor deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the its full amount originally deposited, and Subtenant's failure to do so shall constitute will be a default under material breach of this Sublease. Sublandlord shall will not be required to keep the Security Deposit separate from its general accounts, and shall have no obligation accounts. If Subtenant performs all of Subtenant's obligations hereunder, the Deposit, 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 thereof as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less any amount that has not been used or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, shall Sublandlord, will 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 at 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 Term, within ten (10) business days after Subtenant has vacated the Subleased Premises. No trust relationship is created herein between Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary with respect 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. Deposit. View More
Security Deposit. 7.1 Amount. Upon execution of this Sublease, Sublease by Subtenant, Subtenant shall deposit with deliver to Sublandlord readily available funds 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 $394,174.87 (the "Security Deposit"). Deposit") which shall be maintained by Sublandlord in a separate account identifie...d as Subtenant's security deposit held in accordance with this Sublease. Subtenant shall be entitled to replace the cash Security Deposit held hereunder with a Letter of Credit which meets the requirements for a Letter of Credit as set forth in Article 7 of the Master Lease (except that the amount of the Letter of Credit shall be $394,174.87 as set forth in this Sublease). In the event Subtenant submits a conforming Letter of Credit to Sublandlord, Sublandlord shall thereafter return any cash Security Deposit held hereunder within fifteen (15) days of receipt of such confirming Letter of Credit. 7.2 Use. If Subtenant fails to pay rent Rent or any other charges sums as and when due under this Sublease, or otherwise defaults and/or fails to perform with respect to any provision of its other obligations hereunder, and does not cure such failure within the this Sublease in either case in excess of applicable notice and cure periods for a default by Subtenant under this Sublease, periods, Sublandlord may use (but shall not be obligated to) use, apply, or apply retain all or any portion of the Security Deposit for the payment of to: (a) pay any rent or other amount then due hereunder and unpaid, for the payment of any other sum for which Subtenant is obligated; (b) compensate Sublandlord may become obligated by reason of Subtenant's default or breach, or for any 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 which Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate of Subtenant's share of suffer thereby including, without limitation, 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, future cost to repair damage caused by Subtenant, to the Subleased Space or to clean the Sublease Premises. Sublandlord and Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary to compensate Subleased Space at the end of the Term; or (c) pay or reimburse 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, contractors or invitees. Any use, application, or retention of the Security Deposit shall not constitute a waiver by Sublandlord of its rights to enforce its other remedies under this Sublease, at law, or in equity. 7.3 Restoration. If any portion of the Security Deposit is so used or applied, Subtenant shall, within ten (10) days after delivery of written demand from Sublandlord, restore the Security Deposit to its original amount. Subtenant's failure to do so shall constitute a material breach of this Sublease, and in such event Sublandlord may elect, in addition to other remedies, to terminate this Sublease. 7.4 No Interest; Return. Sublandlord shall not be a trustee of the Security Deposit, and shall not be required to keep the Security Deposit separate from its other accounts. Sublandlord alone shall be entitled to any interest or earnings thereon and Sublandlord shall have the free use of same. If Subtenant fully and faithfully performs all of its obligations under this Sublease, then so much of the Security Deposit as remains shall be returned to Subtenant (without payment of interest or earnings thereon) within 45 days after expiration of the Term or sooner termination of this Sublease. View More
Security Deposit. Upon Concurrently with Subtenant's execution of this Sublease, Subtenant shall deposit with provide to Sublandlord a cash Security Deposit ("Security Deposit") in the sum amount of One Fifty Two Thousand Five Hundred Twenty-Three Thousand Nine Hundred Twelve Forty and 75/100 4/100 U.S. Dollars ($123,912.75) ($52,540.04), but in cash as security for Subtenant's full, timely and faithful performance of all of Subtenant's obligations under this Sublease (the "Security Deposit"). no event shall Subt...enant enter the Subleased Premises until the Security Deposit has been delivered. If Subtenant fails to pay rent Rent or any other charges sums as and when due under hereunder, or otherwise defaults with respect to any provision of this Sublease, or fails to perform any of its other obligations hereunder, and does not cure such failure within in each case beyond the applicable notice and cure periods for a default by Subtenant under this Sublease, period, Sublandlord may use (but shall not be obligated to) use, apply or apply retain 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 Subtenant is obligated or which will compensate Sublandlord may become obligated by reason of Subtenant's default or breach, or for any costs, loss or damage sustained which Sublandlord may suffer thereby. Any draw or partial draw of the Security Deposit shall not constitute a waiver by Sublandlord as a result of Subtenant's default its right to enforce its other remedies hereunder, at law or breach. in equity. 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 by Sublandlord, therefor, 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 be a default under of this Sublease. 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 of the thereon. 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, remaining balance thereof shall be returned to Subtenant or to the Subtenant, or, at Sublandlord's discretion, Subtenant's 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 applicable, within forty-five (45) days after the expiration or earlier termination of the Sublease Term and Subtenant's vacation and surrender of the Subleased Premises in the condition required by the terms of this Sublease. Subtenant hereby waives the provisions of California Civil Code section Section 1950.7, other than Paragraph 1950.7(b), and all other 1951.7 and agrees that the Security Deposit shall be governed by the 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. Sublease. View More
Security Deposit. Upon execution of this Sublease, Subtenant shall deposit has deposited with Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve Security Deposit set forth in Section 1 above, to be held by Sublandlord during the Term as set forth below. The Security Deposit shall be held by Sublandlord without liability for interest and 75/100 Dollars ($123,912.75) in cash as security for Subtenant's full, timely and faithful the performance of all by Subtenant of Subtenant's covenants a...nd obligations hereunder, it being expressly understood that the Security Deposit shall not be considered as a measure of Subtenant's damages in case of default by Subtenant. Sublandlord may, in its sole discretion, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any default under this Sublease (the "Security Deposit"). If Subtenant fails or 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 Security Deposit for the payment of any rent or other amount then due hereunder and unpaid, for the payment of satisfy any other sum for which Sublandlord may become obligated by reason covenant or obligation 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 Subtenant hereunder. Following any portion such application of the Security Deposit, Subtenant shall, within five (5) business days after shall pay to Sublandlord on written demand by Sublandlord, the amount so applied in order to restore the Security Deposit to its original amount. If Subtenant is not in default at 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 termination of interest on the Security Deposit. In the event Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much the balance of the Security Deposit as is then held by Sublandlord. Within sixty (60) days remaining 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, such application shall be returned to Subtenant or within thirty (30) days after such termination, after deducting therefrom any unpaid obligation of Subtenant to Sublandlord as may arise under this Sublease, including, without limitation, the last assignee, if any, obligation of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal Subtenant 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 restore the Master Lease, which obligations shall survive the expiration or earlier Subleased Premises upon termination of this Sublease. Subtenant waives If Sublandlord transfers its interest in the provisions Subleased Premises during the term of California Civil Code section 1950.7, and all other provisions of law now this Sublease, Sublandlord may assign the Security Deposit to the transferee provided that such transferee accepts, in force or that become in force after writing, to be bound by the date of execution terms of this Sublease to as 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. landlord hereunder. View More
Security Deposit. Upon execution of this Sublease, Subtenant shall deposit with Sublandlord upon the sum execution of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) this Sublease a cash security deposit (the "Security Deposit") in cash the amount set forth in Section I of the Preamble above as security for Subtenant's full, timely and the faithful performance and observance by Subtenant of all the terms, conditions, covenants and provisions of Subtenant's obligations under...this Sublease, including without limitation the surrender of possession of the Subleased Premises to Sublandlord as herein provided. The Security Deposit is not required to be held by Sublandlord in a segregated account and any interest earned on the Security Deposit shall be the exclusive property of Sublandlord. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Subtenant without the prior written consent of Sublandlord, which consent may be withheld or conditioned in Sublandlord's sole discretion, and any such act on the part of Subtenant without Sublandlord's prior written consent shall be without force and effect and shall not be binding upon Sublandlord. If any item of Base Rent or Additional Rent herein reserved or any other sum payable by Subtenant to Sublandlord shall be overdue and unpaid, after notice and the expiration of any applicable cure period, or if Sublandlord shall make payments on behalf of Subtenant in accordance with the provisions of this Sublease (the "Security Deposit"). If or if Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations hereunder, the terms and does not cure such failure within the applicable conditions of this Sublease, after notice and the expiration of any applicable cure periods for a default by Subtenant under this Sublease, period, then Sublandlord may, at its sole option and without prejudice to any other remedy which Sublandlord may use or have on account thereof, appropriate and apply all or any portion of the Security Deposit for (or so much thereof as may be necessary) to compensate Sublandlord toward the payment of any rent Base Rent, Additional Rent or other amount then due hereunder and unpaid, for the payment of any other sum for which payable by Subtenant to Sublandlord may become obligated by reason of Subtenant's default or breach, or for loss or damage sustained by Sublandlord due to such breach on the part of Subtenant, as a result of Subtenant's default or breach. If Sublandlord so uses any portion of the Security Deposit, case may be, and Subtenant shall, within five (5) business calendar days after written demand by Sublandlord, therefor, restore the Security Deposit to the original sum deposited. The Security Deposit, or such amount that is remaining, shall be returned in full amount originally deposited, to Subtenant at the end of the term of this Sublease when Subtenant has surrendered possession of the Subleased Premises to Sublandlord in accordance with the terms and Subtenant's failure to do so shall constitute a default under this Sublease. Sublandlord shall not be required to keep conditions contained herein. In the event of bankruptcy or other creditor-debtor proceedings against Subtenant, the Security Deposit separate from its general accounts, and shall have no obligation or liability for be deemed to be applied first to the payment of Base Rent, Additional Rent and other charges due Sublandlord for all periods prior to the filing of such proceedings. The Security Deposit shall not constitute liquidated damages. Sublandlord, and its successors and assigns, may deliver the Security Deposit to any purchaser of Sublandlord's interest on in the Subleased Premises in the event that Sublandlord's interest is sold, and thereupon Sublandlord shall be discharged from any further liability with respect to the Security Deposit, and Subtenant shall look solely to such purchaser for the return of 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
Security Deposit. Upon Simultaneously with Subtenant's 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 Security Deposit Amount as a security deposit for Subtenant's full, timely and faithful the performance by Subtenant of all of Subtenant's obligations, covenants, conditions and agreements under this Sublease. Sublandlord shall not be required to maintain such security deposit in a separ...ate account. Except as may be required by law, Subtenant shall not be entitled to interest on the security deposit. Within thirty (30) days after the later of the expiration or earlier termination of the Sublease Term or Subtenant's vacating the Subleased Premises, Sublandlord shall return such security deposit to Subtenant, less such portion thereof as Sublandlord shall have appropriated to satisfy any of Subtenant's obligations under this Sublease (the "Security Deposit"). or to satisfy a Default under this Sublease. If Subtenant fails to pay rent or other charges when due there shall be any Default under this Sublease, then Sublandlord shall have the right, but shall not be obligated, to use, apply 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 retain all or any portion of the Security Deposit security deposit for the payment of any rent (a) Sublease Base Rent, Additional Rent, or other amount then due hereunder and unpaid, for the payment of any other sum for which applicable to such event, or (b) amount Sublandlord may spend or become obligated to spend, or for the compensation of Sublandlord for any losses incurred, by reason of Subtenant's default such event (including any damage or breach, or for loss or damage sustained by Sublandlord as a result deficiency arising in connection with the reletting of Subtenant's default or breach. the Subleased Premises). If Sublandlord so uses any portion of the Security Deposit, Subtenant shall, security deposit (in whatever form) is so used or applied, then within five (5) seven (7) business days after Sublandlord gives written demand by Sublandlord, notice to Subtenant of such use or application, Subtenant shall deposit with Sublandlord cash in an amount sufficient to restore the security deposit to the original Security Deposit to the full amount originally deposited, Amount, and Subtenant's failure to do so shall constitute a default 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
Security Deposit. Upon execution of this Sublease, Subtenant shall deposit with Sublandlord on or before the Effective Date the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash $374,025.60 (the "Security Deposit"), which is the equivalent of four months' Rent, which Sublandlord will hold as security for Subtenant's full, timely and faithful performance of all of the terms, covenants and conditions of this Sublease to be kept and performed by Subtenant during th...e period commencing on the Effective Date and ending upon the expiration or earlier termination of Subtenant's obligations under this Sublease Sublease. Sublandlord shall return to Subtenant one fourth of the Security Deposit (the "Security Deposit"). equivalent of one month's Rent) in cash every 12 months of the Sub Lease Term, provided that Subtenant is not then in default of any provision of this Sublease. Such repayment shall be completed within 10 days following the completion of each such 12 month period. If Subtenant fails a default occurs with respect to pay rent or other charges when due under any provision of this Sublease, including any provision relating to the payment of Rent, then Sublandlord may, but is not required to, use, apply 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 retain all or any portion part of the Security Deposit for the payment of any rent Rent or other amount then due hereunder and unpaid, for the payment of any other sum 3. in default, or to compensate Sublandlord for which any other loss or damage that Sublandlord may become obligated suffer 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. default. If Sublandlord so uses or applies any portion of the Security Deposit, then Subtenant shall, within five (5) business ten (10) days after written following demand by Sublandlord, therefor, deposit cash with Sublandlord in 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 default be an Event of Default under this Sublease. If Subtenant pays all of the Rent due under this Sublease and fully performs all of the other covenants and obligations on its part to be performed under this Sublease, then Sublandlord shall not be required return 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, Subtenant 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 portion thereof which Sublandlord may withhold from such amount a sum equal to Sublandlord's reasonable estimate have as permitted by this Section 7, within thirty (30) days after the expiration of Subtenant's share the Sublease Term by lapse of any unbilled amount time or termination 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 Lease through no fault of Subtenant Subtenant shall not be entitled to any interest on the Security Deposit, and Sublandlord shall have the right to commingle the Security Deposit with Sublandlord's other funds. The provisions of this Section 7 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. SUBTENANT HEREBY WAIVES THE REQUIREMENTS OF SECTION 1950.7 OF THE CALIFORNIA CIVIL CODE, AS THE SAME MAY BE AMENDED FROM TIME TO TIME. View More
