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 Concurrently with Subtenant's execution of this Sublease, Subtenant shall deposit with Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve $79,385.00 (the "Security Deposit"); however, if the Term is extended pursuant to the provisions of clause (y) of Section 2(a) above, the Security Deposit will be increased to the sum of $209,047.00, and 75/100 Dollars ($123,912.75) in cash Subtenant will deliver to Sublandlord the sum of $129,662.17 within ten (10) calendar days... following Sublandlord's request. The Security Deposit shall be held by Sublandlord as security for Subtenant's full, timely and the faithful performance by Subtenant of all the provisions of Subtenant's obligations under this Sublease (the "Security Deposit"). to be performed or observed by Subtenant. If Subtenant fails to pay rent or other charges when due under this Sublease, or fails to perform any of its other obligations a Default exists 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 use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent past-due sum or other amount then due hereunder and unpaid, for the payment of any other sum for to which Sublandlord may become obligated by reason of Subtenant's default Default, or breach, or to compensate Sublandlord for any loss or damage sustained by which Sublandlord as a result of Subtenant's default or breach. may suffer thereby. If Sublandlord so uses or applies all or any portion of the Security Deposit, Subtenant shall, shall within five (5) business ten (10) 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, thereof and Subtenant's failure to do so shall constitute be a default under this Sublease. Sublandlord shall not be required to keep Default without the necessity of the passage of any additional cure period. The Security Deposit separate from its general accounts, and shall have no obligation 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 theretofore been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, Sublandlord, shall be returned returned, without interest, to Subtenant or (or, at Sublandlord's option, to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal hereunder) within thirty (30) days following the later to Sublandlord's reasonable estimate occur 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 (a) the expiration or earlier termination of the Term, and (b) Subtenant's vacation from the Subleased Premises and completion of all removal,repair and restoration obligations that may be required by 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. 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. Security Deposit. View More
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) amount specified in cash Section 1.2 (the "Security Deposit"), to be held by Sublandlord, without liability for interest, as security for Subtenant's full, timely and faithful performance of all of Subtenant's its 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 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 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 other accounts, and shall have no obligation Sublandlord may apply all 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 a part of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less to any amount that has been unpaid Subtenant Rent or can be applied by other monetary payments due from Subtenant or to cure any other default of Subtenant hereunder and to compensate Sublandlord for all damage and expense sustained as a result of such default. If all or any uncured default by portion of the Security Deposit is so applied, Subtenant shall deposit cash sufficient to restore the Security Deposit to its original amount within fifteen (15) days after receipt of Sublandlord's written demand. If Subtenant fully and faithfully performs each of its obligations under this Sublease, the Security Deposit or any balance thereof shall be returned to Subtenant or to within thirty (30) days of the last assignee, if any, later 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 Sublease or the provisions vacation 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 Premises 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. View More
Security Deposit. Upon Concurrent with Subtenant's execution of this Sublease, Subtenant shall will deposit with Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash $19,656 (5,400 sf x $3.64) (the "Security Deposit"). The Security Deposit will be held by Sublandlord as security for Subtenant's full, timely and the faithful performance by Subtenant of all the terms and conditions of Subtenant's obligations under this Sublease (the "Security Deposit"...). the Sublease. If Subtenant fails defaults with respect to pay rent or other charges when due under any provision of this Sublease, or fails to perform and after 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, period, Sublandlord may use (but shall not be required to) use, apply or apply retain 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 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, said deposit is so used or applied, Subtenant shall, shall within five (5) business thirty (30) days after written demand by Sublandlord, therefore, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the full its original amount originally deposited, and Subtenant's failure to do so shall constitute be a default under material breach of this Sublease. Sublandlord 4 shall not be required to keep the Security Deposit separate from its general accounts, funds, and Subtenant shall not be entitled to interest on such deposit. Provided Subtenant shall have no obligation or liability for payment fully and faithfully performed 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 shall be returned to Subtenant or within thirty (30) days after the expiration of the Sublease Term. No trust relationship is created herein between Sublandlord and Subtenant with respect 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 Security Deposit. 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 hereby waives the provisions of Section 1950.7 of the 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 law, to the same extent they provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in as Tenant under 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 Master Lease has waived 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. such rights. View More
Security Deposit. Upon On the date of execution of this Sublease, hereof, 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 the performance by Subtenant of the terms of this Sublease cash in the amount of $45,279.50 to be held by Sublandlord as security for the faithful performance of every provision of this Sublease, including but not limited to the provisions relating to ...the payment of Basic Rent, Additional Rent and all of Subtenant's obligations under this Sublease other amounts for which Subtenant is obligated hereunder (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 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 Deposit"), it being expressly understood that the Security Deposit for the is not an advance payment of any rent or any other amount then due hereunder and unpaid, for the payment is not a measure of any other sum for which Sublandlord may become obligated Sublandlord's damages in case of default 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. Subtenant. Sublandlord shall not be required to keep the Security Deposit separate from its general accounts, funds, and shall have no obligation Subtenant has no, and expressly waives any, right or interest in the Security Deposit other than as set forth in the immediately following paragraph. Sublandlord may use, apply on Subtenant's behalf, or retain (without liability for payment interest) during the term of interest on this Sublease (and during any period following the Security Deposit. In term of this Sublease when any obligation of Subtenant hereunder is continuing) the event Sublandlord assigns its interest in this Sublease, Sublandlord shall deliver to its assignee so much whole or any part of the Security Deposit as for the payment of Basic Rent, Additional Rent or any other amount in default or that, at the time of any default, is then held owing by Sublandlord. Within Subtenant or is an accrued obligation of Subtenant, or for the payment of any amount which Sublandlord may spend or become obligated to spend hereunder by reason of Subtenant's default, or to compensate Sublandlord for other loss or damage authorized hereunder which Sublandlord may suffer hereunder by reason of Subtenant's default or for which Subtenant has provided an indemnity hereunder, including but not limited to any deficiency or damage incurred in reletting the Subleased Premises. If any portion of the Security Deposit is to be so used or applied, Subtenant shall, upon written demand therefor, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to the amount set forth in this Section 10, and Subtenant's failure to do so shall be deemed a default by Subtenant under this Sublease. Provided Subtenant shall comply and be in compliance with all of the terms of this Sublease, any remaining portion of the Security Deposit after any application or use in accordance with the immediately preceding paragraph shall be paid to Subtenant within sixty (60) days after the Expiration Date, later of (a) the expiration of the term of this Sublease and surrender of possession of the Subleased Premises to Sublandlord, or (b) such time as any amount due or accrued or that may become due or may accrue from Subtenant in accordance with this Sublease has been determined and paid in full. Subtenant shall not assign or encumber any interest in the Security Deposit, less any amount that has been or can be applied by and neither Sublandlord as a result of any uncured default by Subtenant under this Sublease, nor its successors and assigns shall be returned to Subtenant bound by any attempted 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 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. encumbrance. View More
Security Deposit. Upon Subtenant shall deposit the Security Deposit with Sublandlord upon execution of this Sublease, Subtenant Sublease. The Security Deposit shall deposit with be held by Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve 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 and obligations under this Sublease (the "Security Deposit"). If ...Subtenant fails to pay rent Sublease. The Security Deposit shall not be considered an advance payment of rental or other charges when due under this Sublease, or fails to perform any a measure of its other obligations hereunder, and does not cure such failure within the applicable notice and cure periods for a Sublandlord's damages in case of default by Subtenant under this Sublease, Subtenant. Sublandlord may use or apply all or any portion of commingle the Security Deposit for with Sublandlord's other funds. Sublandlord may, from time to time, without prejudice to any other remedy, use the payment Security Deposit to the extent necessary to make good any arrearages of any rent or other amount then due hereunder and unpaid, for the payment of to satisfy any other sum covenant or obligation of Subtenant hereunder, or to compensate Sublandlord for any other loss or damage which Sublandlord may become obligated suffer by reason of Subtenant's any 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. Following any portion such application of the Security Deposit, Subtenant shall, within five (5) business days after written shall pay to Sublandlord on demand by Sublandlord, the amount so applied in order to restore the Security Deposit to its original amount. If Subtenant is not in default beyond any applicable cure period at the full amount originally deposited, termination of the Sublease, and Subtenant's failure has complied with all of the provisions of this Sublease to do so shall constitute a default under this Sublease. Sublandlord shall not be required to keep performed by Subtenant, including surrender of the Subleased Premises in accordance with the provisions hereof, the balance of the Security SUBLEASE AGREEMENT - Page 3 Deposit separate remaining after such termination shall be returned by Sublandlord to Subtenant within thirty (30) days from its general accounts, the Lease Expiration date on August 31, 2015. Subtenant will not assign or encumber Subtenant's interest in the Security Deposit, and shall have no obligation neither Sublandlord nor Sublandlord's successors or liability for payment assigns will be bound by any such attempted assignment or encumbrance of interest on the Security Deposit. In the event of a sale of the Subleased Premises, or a leasing of the Building of which the Subleased Premises form a part, or a transfer by Sublandlord assigns of its interest in interests under this Sublease, Sublandlord shall deliver have the right to its assignee so much transfer the Security Deposit to the purchaser or owner of this Sublease, in which event, Sublandlord shall thereupon be released from all liability for the return of the Security Deposit as is then held by Sublandlord. Within sixty (60) days after to Subtenant and Subtenant agrees to look solely to the Expiration Date, new purchaser or owner for the return of the Security Deposit, less any amount that has been Deposit so long as the aforementioned purchaser or can be applied by Sublandlord as a result owner accepts this obligation in writing. As security for the performance of any uncured default by Subtenant its obligations under this Sublease, shall be returned Subtenant hereby grants a security interest to Subtenant or to Sublandlord in 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 Security Deposit in accordance with the provisions of California Civil the Uniform Commercial Code section 1950.7, as in effect in the State of Texas, and agrees that Sublandlord shall be entitled to exercise all other provisions of law now in force or that become in force after the date of execution of this Sublease remedies available to a secured party thereunder with respect 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. Security Deposit. View More
Security Deposit. Upon Prior to Early Access Date but no later than thirty (30) business days after mutual execution of this Sublease, Subtenant 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 $568,656.00 (the "Security Deposit") as security for Subtenant's full, timely and faithful performance of all of Subtenant's covenants and obligations under this Sublease (the "Security Deposit"). If Subtenant fails to pay rent o...r 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 Sublease; provided, however, that the Security Deposit for the payment of any is not an advance rent deposit or other amount then due hereunder and unpaid, for the an advance payment of any other sum for which Sublandlord may become obligated by reason kind, nor a measure of Sublandlord's damages upon 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. default. Sublandlord shall not be required to keep segregate the Security Deposit separate from its general accounts, other funds and no interest shall have no obligation accrue or liability for payment of interest on the Security Deposit. In the event be payable to Subtenant with respect thereto. Sublandlord assigns its interest in this Sublease, Sublandlord may (but shall deliver to its assignee so much of not be required to) use the Security Deposit as is then held by Sublandlord. Within sixty (60) days after the Expiration Date, the Security Deposit, less or any amount portion thereof to cure any default that has been continues past any applicable notice and/or cure period 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 actual damage Sublandlord incurs as a result of Subtenant's failure to perform any of its covenants or unforeseeable loss obligations hereunder, it being understood that any use of the Security Deposit shall not constitute a bar or damage caused defense to any of Sublandlord's remedies under this Sublease or at law. In such event and upon written notice from Sublandlord to Subtenant specifying the amount of the Security Deposit so utilized by Sublandlord and the act particular purpose for which such amount was applied, Subtenant shall immediately deposit with Sublandlord an amount sufficient to return the Security Deposit to an amount equal to one hundred percent (100%) of the amount specified in the first sentence of this Section. Subtenant's failure to make such payment to Sublandlord within ten (10) business days of Sublandlord's notice shall constitute a default. If Subtenant is not in default at the expiration or omission termination of this Sublease, Sublandlord shall return to Subtenant the Security Deposit or Subtenant's officers, agents, employees, independent contractors, the balance thereof then held by Sublandlord within thirty (30) days; provided, however, that in no event shall any such return be construed as an admission by Sublandlord that Subtenant has performed all of its covenants and obligations hereunder. Subtenant hereby unconditionally and irrevocably waives the benefits and protections of California Civil Code Section 1950.7, and, without limitation of the scope of such waiver, acknowledges that Sublandlord may use all or invitees. any part of the Security Deposit to compensate Sublandlord for damages resulting from termination of this Sublease and the tenancy created hereunder (including, without limitation, damages recoverable under California Civil Code Section 1951.2). Subtenant may at its election provide to Sublandlord a letter of credit reasonably acceptable to Sublandlord from a commercial bank (that has offices in the Bay Area at which the letter of credit may be drawn) reasonably acceptable to Sublandlord, as replacement for the Security Deposit, in which event Sublandlord shall refund to Subtenant the then-current amount of the Security Deposit. View More
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 As security for Subtenant's full, timely and the faithful performance by Subtenant of all of Subtenant's its obligations under this Sublease (the "Security Deposit"). If Subtenant fails and for the payment of any damages to pay rent or other charges when due under this Sublease, or fails to perform any which Subland...lord may be entitled in the event 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 will deposit with Sublandlord the Security Deposit stated in Section 1J. The Security Deposit shall not be deemed to be held in trust by Sublandlord and Sublandlord may use commingle the Security Deposit with other funds of Sublandlord and shall hold the Security Deposit without liability for interest and as security for the performance by Subtenant of Subtenant's covenants and obligations under the Sublease, it being expressly understood that, except as provided above in Section 1, such deposit shall not be considered an advance payment of Rent or a measure of Sublandlord's damages in case of an event of default by Subtenant The Security Deposit shall be returned to Subtenant by Sublandlord without interest, within thirty (30) days after the expiration of the Sublease Term, or renewal thereof, if applicable, provided that Subtenant has fully and faithfully carried out all of the terms, covenants and conditions under this Sublease. If Subtenant defaults with respect to any provision of this Sublease, including, but not limited to, the provisions relating to the payment of the Rent, Sublandlord shall have the right, but shall not be required to, at any time during the Sublease Term to use, apply or retain all or any portion part of the Security Deposit Deposit: (i) for the payment of any rent of the Rent or any other amount then due hereunder and unpaid, sum in default; and/or (ii) for the payment of any other sum for amount which Sublandlord may spend or become obligated to spend by reason of Subtenant's default, and/or (iii) to cure any default or breach, or for loss or damage sustained by of Subtenant, and if Sublandlord as a result of Subtenant's default or breach. If Sublandlord so uses any portion of the Security Deposit, does so, Subtenant shall, within five (5) business thirty (30) days after of written demand by Sublandlord, restore demand, deposit with Sublandlord an additional sum to make 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 original Security Deposit amount, so that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in shall have the payment of rent, to repair damage caused by Subtenant, or to clean full Security Deposit available throughout 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. Term. View More
Security Deposit. Upon execution of this Sublease, Subtenant shall deposit with the Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 four thousand six hundred eighty Dollars ($123,912.75) in cash ($4,680.00) as a security for Subtenant's full, timely and faithful performance of all of Subtenant's obligations under this Sublease (the "Security deposit ("Security Deposit"). If Subtenant fails to pay rent Rent or other charges when due under this Sublease, or fails to perform a...ny of its other obligations hereunder, and does not cure such failure is not cured within the applicable notice and cure periods for a default by Subtenant period under this Sublease, 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 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, shall restore the Security Deposit to the full amount originally deposited, and Subtenant's failure to do so shall constitute a default under this Sublease. deposited within ten (10) days after Sublandlord's written demand. 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 The Security Deposit, or 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 had not theretofore been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, Sublandlord, shall be returned to Subtenant or to the last assignee, if any, within thirty (30) days 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, provided Subtenant waives has vacated 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 Subleased 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, hereof, Subtenant shall deposit with Sublandlord the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve $129,860.36 ("Security Deposit") as and 75/100 Dollars ($123,912.75) in cash as for a security for deposit to secure Subtenant's full, full and timely and faithful performance of all of Subtenant's its obligations under this Sublease (the "Security Deposit"). hereunder. If Subtenant fails to pay rent Rent or any other charges sums as and when due unde...r this Sublease, hereunder, or otherwise defaults and/or fails to perform with respect to any provision of its other obligations hereunder, this Sublease, and does not cure such failure is not cured within 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 for any foreseeable or breach, or for unforeseeable loss or damage sustained by which Sublandlord as a may suffer thereby including, without limitation, any damage that will result of Subtenant's default or breach. If Sublandlord so uses any portion in the future through the Term, to repair damage to the Premises, to clean the Premises at the end of the Security Deposit, Subtenant shall, within five (5) business days after written demand Term or for any loss or damage caused 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 act or liability for payment omission 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 officers, agents, employees, independent contractors or earlier termination of this Sublease. invitees. Subtenant waives the provisions of California Civil Code section 1950.7, 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 that provide that Sublandlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, Rent, to repair damage caused by Subtenant, Subtenant or to clean the Sublease Premises. Any such use, application, or retention shall not constitute a waiver by Sublandlord of its right to enforce its other remedies hereunder, at law, or in equity. If any portion of the Security Deposit is so used, applied, or retained, 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, among or in addition to other remedies, to terminate this Sublease. Sublandlord shall not be a trustee of such Security Deposit, and shall not be required to keep this Security Deposit separate from its accounts. Sublandlord alone shall be entitled to any interest or earnings thereon and Sublandlord shall have the free use of same. If Subtenant agree that Sublandlord may, in addition, claim those sums reasonably necessary fully and faithfully performs all of its obligations hereunder, then so much of the Security Deposit as it remains shall be returned to compensate Sublandlord for any other foreseeable Subtenant (without payment of interest or unforeseeable loss earnings thereon) within 30 days after the later of (i) expiration or damage caused by sooner termination of the act Term, or omission (ii) Subtenant's surrender of Subtenant or Subtenant's officers, agents, employees, independent contractors, or invitees. possession of the Premises to Sublandlord. View More
Security Deposit. Upon execution of this Sublease, Subtenant shall In the event Sublandlord holds any cash security deposit with Sublandlord (the "Security Deposit") from time to time during the sum of One Hundred Twenty-Three Thousand Nine Hundred Twelve and 75/100 Dollars ($123,912.75) in cash Sublease Term, 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"). If to ...be kept and performed by Subtenant during the Sublease Term and if Subtenant fails to pay rent sums due hereunder, or other charges when due under this Sublease, or fails otherwise is in breach with respect to perform any provisions 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 use, apply or apply retain all or any portion of the Security Deposit for the payment of any rent past due sum or other amount then due hereunder and unpaid, for the payment of any other sum for to which Sublandlord may become obligated by reason of Subtenant's default or breach, or to compensate Sublandlord for any loss or damage sustained by which Sublandlord as a result of Subtenant's default or breach. may suffer thereby. If Sublandlord so uses or applies all or any portion of the Security Deposit, Subtenant shall, shall within five (5) business ten (10) 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, thereof and Subtenant's failure to do so shall constitute be a default under material breach of 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 If Subtenant performs all 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's obligations hereunder, the Security Deposit, less any amount that or so much thereof as has not theretofore been or can be applied by Sublandlord as a result of any uncured default by Subtenant under this Sublease, Sublandlord, shall be returned returned, without interest, to Subtenant or (or, at Sublandlord's option, to the last assignee, if any, of Subtenant's interest hereunder; provided, however, that Sublandlord may withhold from such amount a sum equal hereunder) within thirty (30) days following the later to Sublandlord's reasonable estimate occur 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 (a) the expiration or earlier termination of this Sublease. the Term, and (b) Subtenant's vacation from the Sublease Premises and completion of all removal, repair and restoration obligations. No trust relationship is created herein between Sublandlord and 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 with respect 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. Security Deposit. 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
