Security Deposit Contract Clauses (918)

Security Deposit. As security for the payment and performance of its obligations under this Lease, Tenant has deposited with Landlord the sum of $19,770.00 (the "Deposit"). The Deposit shall be held by Landlord, and, at Landlord's discretion, applied to the payment of any amount due Landlord from Tenant which comes due under the terms of this Lease. Any such use of the Deposit by Landlord shall not serve to cure or waive Tenant's default, and such default shall not be deemed cured until the full amount of the Dep...osit has been restored to Landlord by Tenant. Any unexpended portion of the Deposit shall be paid over to Tenant within thirty (30) days after the expiration or termination of this Lease and the performance by Tenant of all of its obligations under this Lease. View More

Security Deposit. The Security Deposit shall be held by Landlord as security for Tenant's full and faithful performance of this Lease including the payment of Rent. Tenant grants Landlord a security interest in the Security Deposit. The Security Deposit may be commingled with other funds of Landlord and Landlord shall have no liability for payment of any interest on the Security Deposit. Landlord may apply the Security Deposit to the extent required to cure any default by Tenant. If Landlord so applies the Securi...ty Deposit, Tenant shall deliver to Landlord the amount necessary to replenish the Security Deposit to its original sum within five days after notice from Landlord. The Security Deposit shall not be deemed an advance payment of Rent or a measure of damages for any default by Tenant, nor shall it be a defense to any action that Landlord may bring against Tenant. View More

Security Deposit. Lessee shall deposit with Lessor on the signing of this lease the sum of Twenty Thousand Nine Hundred Fifty-Four Dollars and 37 Cents ( $20,954.37 ) which is transferred from existing lease agreement as security for the performance of Lessee's obligations under this lease, including without limitation the surrender of possession of the premises to Lessor as herein provided. If Lessor applies any part of the deposit to cure any default of Lessee, Lessee shall on demand deposit with Lessor the amo...unt so applied so that Lessor shall have the full deposit on hand at all times during the term of this lease. View More

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

Security Deposit. a. Amount of Deposit. Tenant shall deposit with Landlord a Security Deposit within ten (10) days following the date of this Lease in the amount set forth in Section 1g, which sum Landlord shall retain as security for the performance by Tenant of each of its obligations hereunder. The Security Deposit shall not bear interest. -5- b. Application of Deposit. If Tenant at any time fails to perform any of its obligations under this Lease, including its Rent or other payment obligations, its restorati...on obligations, or its insurance and indemnity obligations, then Landlord may, at its option, apply the Security Deposit (or any portion) to cure Tenant's default or to pay for damages caused by Tenant's default. If the Lease has been terminated, then Landlord may apply the Security Deposit (or any portion) against the damages incurred as a consequence of Tenant's breach. The application of the Security Deposit shall not limit Landlord's remedies for default under the terms of this Lease. If Landlord depletes the Security Deposit, in whole or in part, prior to the Expiration Date or any termination of this Lease, then Tenant shall restore immediately the amount so used by Landlord. c. Refund of Deposit. Unless Landlord uses the Security Deposit to cure a default of Tenant, to pay damages for Tenant's breach of the Lease, or to restore the Premises to the condition to which Tenant is required to leave the Premises upon the expiration or any termination of the Lease, then Landlord shall, within thirty (30) days after the Expiration Date or any termination of this Lease, refund to Tenant any funds remaining in the Security Deposit. Tenant may not credit the Security Deposit against any month's Rent. View More

Security Deposit. Tenant has previously deposited with Landlord Three Thousand Two Hundred Fifty and 65/100 Dollars ($3,250.65) as a Security Deposit under the Lease. Landlord shall continue to hold such Security Deposit during the Sixth Amendment Extended Term in accordance with the terms and conditions of Article 5 of the Original Lease.

Security Deposit. Concurrent with Subtenant's execution of this Sublease, Subtenant shall deliver to Sublandlord the sum of $40,302.80 (the "Deposit") as security for the performance by Subtenant of its obligations under this Sublease . If Subtenant is not then in default beyond any applicable cure period, the Deposit shall be applied to the last month of Basic Annual Rent and Applicable Additional Rent and any remaining amount shall be returned to Subtenant upon the expiration or termination of this Sublease. If... Subtenant defaults in respect of any of the terms, provisions, covenants or conditions of this Sublease beyond any applicable notice and cure period, including, but not limited to, payment of Rent, Sublandlord may, but shall not be required to, use, apply or retain the whole or any appropriate part of the Deposit for the payment of any Rent in default or for reimbursement of any reasonable expense that Sublandlord incurs because of Subtenant's default. If the Deposit is so applied then Subtenant shall, within ten (10) days after Sublandlord's written request, deposit additional money with Sublandlord sufficient to restore the Deposit to its original amount. Sublandlord shall be required to segregate the Deposit and keep it separate from Sublandlord's general funds during the entirety of the Sublease Term. View More

Security Deposit. (a) Payment of Security Deposit. Tenant will pay one-half of the Security Deposit to Landlord within thirty (30) days following execution of this Lease and Tenant will pay the other one-half of the Security Deposit to Landlord within sixty (60) days following the execution of this Lease, all as security for the performance by Tenant of the terms, covenants and conditions of this Lease. The failure of Tenant to pay either or both of the installments on or before the applicable dates due will be a...n Event of Default which entitles Landlord to pursue any and all remedies set forth in Section 20(b) below. -4- (b) Commingled Funds. Any Security Deposit may be commingled with Landlord's other funds and will not bear interest. (c) Event of Default. If an Event of Default occurs, Landlord may apply the Security Deposit to any sum due Landlord or which Landlord may expend by reason of the Event of Default (d) Replenishment of Security Deposit. If all or any portion of the Security Deposit is so applied by Landlord, Tenant will, within 5 days after written demand from Landlord, replenish the Security Deposit in full. (e) Return of Security Deposit. If Tenant complies with all of the terms of this Lease, the Security Deposit will be returned to Tenant no more than 30 days after the later of: (i) the Expiration Date; and (ii) the date that Tenant delivers possession of the Premises to Landlord. (f) Transfer and Assignment of Security Deposit. Upon a sale of the Premises, Landlord will transfer (or credit) the Security Deposit to the purchaser and, upon any such transfer or credit, Landlord will be released from all liability for the return of the Security Deposit. Tenant will not assign or encumber the Security Deposit. (g) Letter of Credit. If the Security Deposit is in the form of a letter of credit (the "Letter of Credit"): (i) it will be an irrevocable letter of credit and in a form and from a financial institution acceptable to Landlord; and (ii) Tenant will, upon demand, pay directly or reimburse Landlord for all reasonable expenses incurred by Landlord in connection with the Letter of Credit, including, but not limited to, any transfer fee due upon the transfer of the Letter of Credit upon a sale of the Building by Landlord. View More

Security Deposit. Tenant has deposited with Landlord a Security Deposit as set forth in Item 22 of the Basic Lease Provisions, as security for the full and faithful performance of Tenant's obligations under this Lease. The parties agree that, unless otherwise required by law, Landlord shall not be required to keep said Security Deposit separate from its general funds, nor pay any interest thereon to Tenant. Such Security Deposit shall not be construed as an advance Rent payment, or as a measure of Landlord's dama...ges in the event of a Default by Tenant. If Tenant should be placed in Default with respect to any provision of this Lease, Landlord may apply all or a portion of said Security Deposit for the payment of any sum in Default or for the payment of any amount which Landlord expends by reason of such Default. If any portion of said Security Deposit is so applied, Tenant shall deposit with Landlord, within five (5) days after receipt of Landlord's written demand, an amount sufficient to restore said Security Deposit to its original amount. Upon the expiration of this Lease, Landlord shall return said Security Deposit to Tenant, provided Tenant has paid to Landlord all sums owing to Landlord under this Lease, and Tenant has returned the Premises to Landlord in as good order and satisfactory condition. View More

Security Deposit. On or before January 4, 2021, Tenant shall deposit the amount of the Security Deposit indicated in Section 1 with Landlord to secure Tenant's performance under this Lease. Tenant hereby grants to Landlord a security interest in the Security Deposit as collateral for all Rent and other sums of money becoming due from Tenant to Landlord under this Lease, and San Felipe Plaza/Summer Energy Holdings, Inc. -4- DocuSign Envelope ID: A1357CC3-ED4D-47DF-A5FB-22FC3BC9DEAD for the performance of Tenant's ...obligations under this Lease, which security interest shall remain in effect until all such Rent and other sums of money have been paid in full and all such obligations have been fulfilled; the parties hereby acknowledge and agree that this Lease constitutes a security agreement under which such security interest is granted from Tenant to Landlord. In the event of an uncured Default, defined below, then Landlord may, without prejudice to Landlord's other remedies, apply part or all of the Security Deposit to cure such Default. If Landlord so uses part or all of the Security Deposit, then Tenant shall within ten (10) days after written demand, provide Landlord with a replacement Security Deposit in an amount sufficient to restore the Security Deposit to its original amount. Any part of the Security Deposit not used by the Landlord as permitted by this Lease shall be returned to Tenant after the Expiration Date. Tenant does hereby authorize Landlord to withhold from the Security Deposit all amounts allowed by Law and the amount reasonably anticipated by Landlord to be owed by Tenant as a result of an underpayment of Tenant's Pro- Rata Share of Operating Expenses and Taxes for the final year of the Term. To the fullest extent permitted by applicable Law, Tenant agrees that the provisions of this Article 8 shall supersede and replace all statutory rights of Tenant under applicable Law regarding the retention, application or return of security deposits. If Landlord sells the Building then the Landlord shall transfer the Security Deposit to the new owner and upon such new owner's assumption of Landlord's obligations, Landlord shall be relieved of any liability for the Security Deposit. Tenant shall not be entitled to any interest on the Security Deposit, and Landlord may commingle the Security Deposit with other monies of Landlord. View More