Security Deposit Clause Example with 9 Variations from Business Contracts

Security Deposit. The Security Deposit, if any, Deposit shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) Laws) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent ne...cessary to satisfy past due Rent Rent, to cure any Default (defined in Section 18) by Tenant, or to satisfy compensate Landlord for any other loss or damage resulting from Landlord may suffer by reason of Tenant's breach under this Lease. Default. If Landlord uses any portion of the Security Deposit, Tenant, within 5 days after demand, Tenant shall on demand restore the Security Deposit to its original amount. amount, and Tenant's failure to do so shall be a Default under this Lease. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 calendar days after the later latest to occur of: (a) determination payment of the final Rent due from Tenant; or (b) the later to occur of the Termination Date Expiration Date; or (c) the date Tenant surrenders the Premises to Landlord in compliance with Section 25. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall have no further liability for the return of the Security Deposit. 27. Landlord shall not be required to keep the Security Deposit separate from its other accounts. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code, or any successor Laws now or hereafter in effect. View More

Security Deposit. The An initial Security Deposit, if any, Deposit of One Hundred Fifty Thousand Dollars and No Cents ($150,000.00) shall be delivered by Tenant or its agent or representative to Landlord upon the execution of this Lease by Tenant Tenant. Such initial Security Deposit shall be in the form of an irrevocable letter of credit made for the benefit of the Landlord, its successors and assigns, and held by Landlord without liability for interest (unless required by Law) as security for the performance of... Tenant's obligations. obligations herein and hereunder. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent necessary to satisfy past due past-due Rent or to satisfy cure any other loss or damage resulting from Tenant's breach under this Lease. Default (defined herein) by Tenant. If Landlord uses any portion of the Security Deposit, Tenant, Tenant shall, within 5 five (5) days after demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 sixty (60) days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. Furthermore, the Landlord covenants and agrees that the letter of credit required of Tenant need only be in the amount of Fifty Thousand Dollars and No Cents ($50,000.00) at any time after the last day of the twenty-fourth (24th) month of the Term of this Lease, so long as there is no event of Default and Tenant's creditworthiness is as good or better than it was on the date of execution of this Lease. View More

Security Deposit. The Security Deposit, if any, Deposit in the amount of $123,196.50 shall be delivered to Landlord upon the execution of this Lease by Tenant and shall be held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the S...ecurity Deposit to the extent necessary to satisfy past due Rent or to satisfy any other loss or damage resulting from Tenant's breach under this Lease. If Landlord uses any portion of the Security Deposit, Tenant, within 5 days after demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall have no further liability for the return of the Security Deposit. damages. Landlord shall not be required to keep the Security Deposit separate from its other accounts. Landlord may, from time to time, after any applicable notice and grace periods have expired, and without prejudice to any other remedy, use all or a portion of the Security Deposit to satisfy past due Rent or to cure any uncured 14 Event of Default (as defined in Article 19) by Tenant. Following any such application to the Security Deposit, Tenant shall pay to Landlord within fifteen (15) days after demand the amount so applied in order to restore the Security Deposit to its original amount. Landlord shall return the Security Deposit within 45 days after the later to occur of: (1) the date Tenant surrenders possession of the Premises to Landlord in accordance with this Lease; or (2) the expiration or earlier termination of this Lease. If Landlord transfers its interest in the Premises, Landlord shall assign the Security Deposit to the transferee and, following such assignment and assumption thereof by the transferee, Landlord shall have no further liability for the return of the Security Deposit. View More

Security Deposit. The Security Deposit, if any, shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent necessary to sat...isfy past due Rent or to satisfy cure any other loss or damage resulting from Tenant's breach under this Lease. Default (defined in Section 18) by Tenant. If Landlord uses any portion of the Security Deposit, Tenant, Tenant shall, within 5 days Business Days after demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. If Tenant is not in default at the termination of this Lease, Landlord shall return any unapplied balance of the Security Deposit to Tenant within 45 days after Tenant surrenders the Premises to Landlord in accordance with this Lease. In addition to any other deductions Landlord is entitled to make pursuant to the terms hereof, Landlord shall have the right to make a good faith estimate of any unreconciled Expenses and/or Taxes as of the Termination Date and to deduct any anticipated shortfall from the Security Deposit. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code, or any similar or successor Laws now or hereinafter in effect. View More

Security Deposit. The Security Deposit, if any, Deposit shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent necessar...y to satisfy past due Rent or to satisfy cure any other loss or damage resulting from Tenant's breach under this Lease. Default (defined in Section 18) by Tenant. If Landlord uses any portion of the Security Deposit, Tenant, Tenant shall, within 5 days after demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. In no event shall Tenant be entitled to apply the Security Deposit to any Rent due hereunder. In the event of an act of bankruptcy by or insolvency of Tenant, or the appointment of a receiver for Tenant or a general assignment for the benefit of Tenant's creditors, then the Security Deposit shall be deemed immediately assigned to Landlord. The right to retain the Security Deposit shall be in addition and not alternative to Landlord's other remedies under this Lease or as may be provided by law and shall not be affected by summary proceedings or other proceedings to recover possession of the Premises. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. View More

Security Deposit. The Security Deposit, if any, Deposit shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent necessar...y to satisfy past due Rent or to cure any Default (defined in Section 18) by Tenant, or to satisfy any other loss or damage resulting from Tenant's breach under this Lease. Default as provided in Section 19. If Landlord uses any portion of the Security Deposit, Tenant, Tenant shall, within 5 days after demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; Tenant: or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall have no further liability for the return of the Security Deposit. Landlord shall not be required to keep 3 the Security Deposit separate from its other accounts. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code, or any similar or successor Laws now or hereinafter in effect. View More

Security Deposit. The Security Deposit, if any, Deposit shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. The Security Deposit need not be held in any separate account and may be commingled with Landlord's other funds. Landlord may from time to time and without prejudice to any o...ther remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent necessary to satisfy past due Rent Rent, or to satisfy cure any other loss or damage resulting from Tenant's breach under this Lease. Default (defined in Section 18) by Tenant. If Landlord uses any portion of the Security Deposit, Tenant, Tenant shall, within 5 days after demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. Landlord may assign the Security Deposit to a successor or transferee of Landlord who has agreed to assume all of the obligations of Landlord under this Lease as though such successor or transferee were the Landlord; and, following the assignment, assignment and assumption, Landlord shall have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. View More

Security Deposit. The Security Deposit, if any, shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent necessary to sat...isfy past due Rent or to satisfy any other loss or damage resulting from Tenant's breach under this Lease. If Landlord uses any portion of the Security Deposit, Tenant, within 5 days Business Days after receipt or deemed receipt of written demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. -8- Within 45 days after the date of this Lease, Tenant shall provide Landlord with an irrevocable letter of credit (the "Letter of Credit") in the amount of the Security Deposit which shall conform with and be subject to the terms of Section 3 of Exhibit F to this Lease. Notwithstanding anything to the contrary contained herein, promptly upon Landlord's receipt of the Letter of Credit (within 10 Business Days), Landlord shall return the full amount of the unapplied cash Security Deposit to Tenant. View More

Security Deposit. The Security Deposit, if any, shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by Law, use all or a portion of the Security Deposit to the extent necessary to sat...isfy past due Rent or to satisfy any other loss or damage resulting from Tenant's breach under this Lease. Lease, provided that Landlord provides written notice to Tenant prior to applying any portion of the Security Deposit. If Landlord uses any portion of the Security Deposit, Tenant, within 5 days 10 Business Days after demand, shall restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant 7 within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. If Landlord may should transfer the Lease to a successor or transferee, Landlord shall transfer and assign the Security Deposit to a the successor or transferee and, following the assignment, assignment of the Security Deposit and receipt thereof by the successor or transferee, Landlord shall have no be released from any further liability obligations hereunder for the return of the Security Deposit. Deposit and Tenant agrees to look solely to the successor in interest of Landlord for the performance of such obligations. Landlord shall not be required to keep the Security Deposit separate from its other accounts. View More