Security Deposit Contract Clauses (918)

Security Deposit. Landlord currently holds the Security Deposit. The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants and conditions of this Lease to be kept and performed by Tenant and not as an advance rental deposit or as a measure of Landlord's damage in case of Tenant's default. If an Event of Default by Tenant occurs with respect to any provision of this Lease, Landlord may utilize the Security Deposit for the payment of any Annual Ren...t or any other sum in default, or for the payment of any reasonable amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other reasonable loss or damage which Landlord may suffer by reason of Tenant's default, except to such extent, if any, as shall be required by law. Landlord shall not be required to keep the Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on the Security Deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant at such time after termination of this Lease when Landlord shall have determined that all of Tenant's obligations under this Lease have been fulfilled but no later than ninety (90) days after the Termination Date. WITNESS the execution hereof under seal effective as of the 20th day of December, 2013.LANDLORD: TENANT:130 ROYALL, LLC DUNKIN' BRANDS, INC. /s/ Rosalind E. Gorin____________ /s/ Jason Maceda_________________________By: Rosalind Gorin, President, H.N Gorin, Inc. Name: Jason MacedaIts duly authorized: Managing Member Title: Vice President EXHIBIT "A"attached to and made a part of Lease bearing theLease Reference Date of December __, 2013 between130 ROYALL, LLC, as Landlord andDUNKIN' BRANDS, INC., as TenantPREMISES Plan entitled "Plan of Land, Royall Street, Canton, Massachusetts" dated August 25, 1999, by R.E. Cameron & Associates, Inc., Land Surveyors, Civil Engineers.EXHIBIT "A-1"attached to and made a part of Lease bearing theLease Reference Date of December __, 2013 between130 ROYALL, LLC, as Landlord andDUNKIN' BRANDS, INC., as Tenant LANDThat certain land in Canton, Norfolk County, Massachusetts shown as "Parcel B Area = 486,576 S.F. + 11.2 Acres" on a plan entitled "Plan of Land Royall Street Canton, Massachusetts" dated August 25, 1999, drawn by R.E. Cameron & Associates, Inc. and recorded with the Norfolk County Registry of Deeds on March 31, 2000, as Plan 150 of 2000 in Plan Book 473. EXHIBIT "B" [INTENTIONALLY DELETED] EXHIBIT "C" [INTENTIONALLY DELETED] EXHIBIT "D"attached to and made a part of Lease bearing theLease Reference Date of December __, 2013 between130 ROYALL, LLC, as Landlord andDUNKIN' BRANDS, INC., as TenantFORM OF NONDISTURBANCE AGREEMENT – MORTGAGE SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT THIS SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT ("Agreement") is made as of this ____ day ________________ 20__, by and between _______________________________________________, having an address of ___________________________________ ("Lender"), ________________________________, having an address of ______________________________________________ ("Landlord"), and _________________________________________ having an address of __________________________________ ("Tenant"). RECITALS A. Tenant is the holder of a leasehold estate in that premises located at _______________________________________ as is more particularly described on Schedule A, attached hereto and incorporated herein for all purposes (the "Premises") under and pursuant to the provisions of a certain lease dated ____________, between Landlord and Tenant (as the same may have been amended, collectively the "Lease"); and B. The Premises is or is to be encumbered by one or more mortgages, deeds of trust, deeds to secure debt or similar security agreements (collectively, the "Security Instrument") from Landlord, or its successor in interest, in favor of Lender; and C. Tenant has agreed to subordinate the Lease to the Security Instrument and to the lien thereof and Lender has agreed to grant non‐disturbance to Tenant under the Lease on the terms and conditions hereinafter set forth. AGREEMENT NOW, THEREFORE, the parties hereto mutually agree as follows: 1. Subordination. The Lease shall be subject and subordinate in all respects to the lien and terms of the Security Instrument, to any and all advances to be made thereunder and to all renewals, modifications, consolidations, replacements and extensions thereof. View More

Security Deposit. 10.1 Landlord acknowledges that it is currently holding a Letter of Credit in the amount of $1,265,965.40 (the "Existing LC"). Simultaneously herewith, Tenant shall deliver an amendment to the Existing LC effectively increasing the Security Deposit to $1,338,625.40 (the "Amended LC") to Landlord. 10.2 Effective as of the date of this Amendment, Section 23.1.3 of the Lease shall be amended and restated in its entirety as follows: On June 1, 2021, and upon the condition that (i) an Event of Defaul...t shall not then exist and be continuing, (ii) no Event of Default shall have occurred during the Term, (iii) Tenant shall never have been late in the payment of any Base Rent or Additional Rent beyond the applicable notice and grace period provided herein, if any, and (iv) Tenant shall then have a 6 market capitalization, as reported by NASDAQ and as certified by Tenant's chief financial officer, equal to or in excess of $250,000,000.00, then the Security Deposit shall be reduced to $1,121,422.32. In such event, Tenant shall provide a replacement Letter of Credit complying with this Section in the amount of $1,121,422.32 to Landlord (in which case Landlord shall, simultaneously with Tenant's delivery of such replacement Letter of Credit, return the original Letter of Credit to Tenant) or deliver an amendment to the Letter of Credit, pursuant to which the amount of the Letter of Credit shall be reduced to $1,121,422.32 and Landlord agrees that Landlord shall execute any such amendment and any other documentation reasonably required in connection therewith by the Issuing Bank, all at no cost, expense or additional liability to Landlord. In the instance of such reduction, Landlord agrees to reasonably comply with requests from Tenant or the Issuing Bank in obtaining a replacement Letter of Credit, at no cost or expense to Landlord, which replacement Letter of credit shall comply with this Article 23. If, at any time after the Security Deposit shall be reduced as provided above, (x) an Event of Default shall occur or (y) Tenant's market capitalization, determined as provided above, shall fall below $250,000,000, then, subject to the following cure right in the case of clause (y) only, Landlord shall have the right to demand that the Security Deposit be immediately restored to its original full amount subsequent as of the First Amendment to Lease (i.e., $1,338,625.40) for the balance of the Term as if such reduction shall have never occurred, and Tenant shall so comply; provided, however, that, in the event Landlord shall have demanded that the Security Deposit be restored to its original full amount as a result of Tenant's non-compliance with clause (y) only (and not as a result of Tenant's non-compliance with clause (x)), then Tenant shall have the right to again seek a reduction of the Letter of Credit (as so restored) to $1,121,422.32 on the condition that Tenant's market capitalization, determined as provided above, shall equal or exceed $250,000,000 and remain at or above such level for at least ninety (90) consecutive days, subject, nevertheless, to Landlord's continuing right to demand restoration of the Security Deposit to its original full amount in accordance with the immediately preceding sentence. View More

Security Deposit. Tenant hereby agrees to pay to Landlord a security deposit equal in amount to one month's Base Rental on the day this Lease is executed by Tenant (the "Security Deposit"). Upon the occurrence of any Event of Default by Tenant, Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrears of Base Rental or Additional Rental or any other payment obligation hereunder, including, but not limited to, the cost of any d...amage, injury, expense, or liability caused by any Event of Default by Tenant hereunder. Any remaining balance of the Security Deposit shall be returned by Landlord to Tenant within a reasonable period of time after the termination or expiration of this Lease and the satisfaction of Tenant's obligations hereunder. The Security Deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. Tenant shall not be entitled to receive and shall not receive any interest on the Security Deposit, and Landlord may commingle the same with other monies of Landlord. In the event Landlord applies the Security Deposit or any portion thereof to the payment of any sum described above and this Lease is not terminated, Tenant shall immediately deposit with Landlord an amount of money equal to the amount so applied, and such amount shall be deemed to be part of the Security Deposit. In the event of a sale or transfer of Landlord's interest in the Premises, Landlord shall have the right to transfer the Security Deposit to the purchaser or lessor, as the case may be, and upon any such transfer and acknowledgement of receipt of Security Deposit by such transferee, Landlord shall be relieved of all liability to Tenant for the return of the Security Deposit, and Tenant shall look solely to the new owner or lessor for the return of the Security Deposit. View More

Security Deposit. Concurrently with its execution and delivery hereof, Tenant shall deposit with Landlord the Security Deposit, if any, as security for Tenant's performance of its obligations hereunder. If Tenant breaches any provision hereof, Landlord may, at its option, without notice to Tenant, apply all or part of the Security Deposit to pay any past-due Rent, cure any breach by Tenant, or compensate Landlord for any other loss or damage caused by such breach. If Landlord so applies any portion of the Securit...y Deposit, Tenant, within three (3) days after demand therefor, shall restore the Security Deposit to its original amount. The Security Deposit is not an advance payment of Rent or measure of damages. Any unapplied portion of the Security Deposit shall be returned to Tenant within 45 days after the latest to occur of (a) the expiration of the Term, (b) Tenant's surrender of the Premises as required hereunder, or (c) Landlord's cure of any existing breach by Tenant of any provision hereof; provided, however, that if Landlord estimates in good faith that Tenant may be required to make a payment to Landlord under Section 4.4.1, Landlord may retain such unapplied portion of the Security Deposit, to the extent of the estimated amount of such payment, until the date occurring 45 days after determination of the final Rent due from Tenant. Landlord shall not be required to keep the Security Deposit separate from its other accounts. View More

Security Deposit. No Security Deposit shall be required in connection with this Amendment.

Security Deposit. As additional security for the full and prompt performance by Tenant of the terms and covenants of the Lease, as amended by this Amendment, in addition to the Security Deposit provided under Section 3.7 of the Lease (as amended in Section 6 of the First Amendment to Lease), Tenant has deposited with Landlord the sum of Twelve Thousand Seven Hundred Twenty-Six and 00/100 Dollars ($12,726.00). Provided that no Event of Default has occurred or exists and that no event which, with the passage of tim...e, the giving of notice or both would constitute an Event of Default then exists, at the end of the thirty-sixth (36th) calendar month of the term of the Lease, Landlord shall return to Tenant Six Thousand Three Hundred Sixty-Three 00/100 Dollars ($6,363.00) in addition to the Twenty-Four Thousand Two Hundred Thirty-Six and 27/100 Dollars ($24,236.27) which shall be returned to Tenant pursuant to Section 3.7 of the Lease (as amended in Section 6 of the First Amendment to Lease). Additional security as set forth herein shall be held by Landlord as part of the Security Deposit pursuant to Section 3.7 of the Lease. View More

Security Deposit. To secure the faithful performance by Tenant of all of the covenants and conditions in this Lease set forth and contained on the part of Tenant to be fulfilled, kept, observed and performed including, but without limiting the generality of the foregoing, such covenants and conditions in this Lease which become applicable upon the termination of the same by re-entry or otherwise, Tenant shall deposit simultaneous with the execution of this Lease the sum of not less than Sixty-Two Thousand One Hun...dred Ninety-Seven and 13/100 Dollars ($62,197.13) and which such sum shall be finally determined after review of Tenant's financial statements by Landlord as Security Deposit upon the following terms and conditions: A. Such deposit or any part thereof not previously applied, or from time to time, such one or more parts or portions thereof, may be applied to the curing of any default that may then exist, without prejudice to any other remedy or remedies which the Landlord may have on account thereof, and upon such application Tenant shall pay 23 Landlord on demand the amount so applied which shall be added to the Security Deposit so the same may be restored to its original amount; B. Should the Building be conveyed by Landlord the deposit or any portion thereof not previously applied may be turned over to Landlord's grantee or a new agent, as the case may be and, if the same be turned over as aforesaid, Tenant hereby releases Landlord from any and all liability with respect to the deposit and/or its application or return and Tenant agrees to look to such grantee or agent, as the case may be, for such applications or returns; C. Landlord or its agent or its successors and assigns shall not be obligated to hold said deposit as a separate fund, but on the contrary may commingle the same with its other funds; D. If Tenant shall faithfully fulfill, keep, perform and observe all of the covenants and conditions in this Lease set forth and contained on the part of Tenant to be fulfilled, kept, performed and observed, such deposit shall be returned to Tenant without interest no later than thirty (30) days after the expiration of the Term of this Lease or any renewal or extension thereof, provided Tenant has vacated the Premises and surrendered possession thereof to the Landlord at the expiration of the Term or any extension or renewal thereof as provided herein; and E. Landlord or its agent on behalf of itself and its successors, reserves the right, at its sole option, to return to Tenant said deposit, or what may then remain thereof, at any time prior to the date when Landlord or its agent or its successors and assigns are obligated hereunder to return the same, but said return shall not in any manner be deemed to be a waiver of any default of Tenant hereunder then existing not to limit or extinguish any liability of Tenant hereunder. View More

Security Deposit. Tenant agrees to deposit with Landlord the Security Deposit set forth at Section 1.8 upon execution of this Lease, as security for Tenant's faithful performance of its obligations under this Lease. Landlord and Tenant agree that the Security Deposit may be commingled with funds of Landlord and Landlord shall have no obligation or liability for payment of interest on such deposit. Tenant shall not mortgage, assign, transfer or encumber the Security Deposit without the prior written consent of Lan...dlord and any attempt by Tenant to do so shall be void, without force or effect and shall not be binding upon Landlord. If Tenant fails to pay any Rent or other amount when due and payable under this Lease, or fails to perform any of the terms hereof, Landlord may appropriate and apply or use all or any portion of the Security Deposit for Rent payments or any other amount then due and unpaid, for payment of any amount for which Landlord has become obligated as a result of Tenant's default or breach, and for any loss or damage sustained by Landlord as a result of Tenant's default or breach, and Landlord may so apply or use this deposit without prejudice to any other remedy Landlord may have by reason of Tenant's default or breach. If Landlord so uses any of the Security Deposit, Tenant shall within ten (10) days after written demand therefore, restore the Security Deposit to the full amount originally deposited; Tenant's failure to do so shall constitute an act of default hereunder and Landlord shall have the right to exercise any remedy provided for in Section 21 hereof. Within fifteen (15) days after the Term (or any extension thereof) has expired or Tenant has vacated the Premises, whichever shall last occur, and provided Tenant is not then in default on any of its obligations hereunder, Landlord shall return the Security Deposit to Tenant, or, if Tenant has assigned its interest under this Lease, to the last assignee of Tenant. If Landlord sells its interest in the Premises, Landlord may deliver this deposit to the purchaser of Landlord's interest and thereupon be relieved of any further liability or obligation with respect to the Security Deposit. View More

Security Deposit. "Security Deposits" means those certain refundable security deposits held by or for Assignor on account of tenants under the Leases as such deposits and with respect to which Assignee received a credit at the closing of the transaction with respect to which this Assignment has been executed and delivered.

Security Deposit. Subtenant hereby deposits with Sublandlord the sum of $13,839.75 as security for the full and faithful performance by Subtenant of all the terms, conditions and covenants contained in this Sublease on the part of Subtenant to be performed, including, but not limited to, the payment of Rent. In the event of a default by Subtenant of any term, condition or covenant herein contained, Sublandlord may apply all or any part of such security deposit to curing all or any part of such default; and Subten...ant agrees to promptly, upon demand, deposit such additional sum with Sublandlord as may be required to maintain the full amount of the security deposit. All sums held by Sublandlord pursuant to this Section shall be held without interest. View More