Common use of Advance Deposit Clause in Contracts

Advance Deposit. Simultaneously with the execution of this Lease by Tenant, Tenant shall deposit with Landlord the sum of Four Thousand Three Hundred Seventy-Eight and 50/100 Dollars ($4,378.50), as a deposit of the first month’s Rent (the “Advance Deposit”), which shall be applied by Landlord on behalf of Tenant to the payment of the first month’s Rent when due and payable. The Advance Deposit, prior to its being applied to the payment of Monthly Base Rent, shall constitute security for the payment and performance by Tenant of all of Tenant’s obligations, covenants, conditions and agreements under this Lease, but shall not be deemed liquidated damages, but shall be applied in reduction of Tenant’s total obligation(s) to Landlord.

Advance Deposit. Simultaneously In addition, simultaneously with the execution of this Lease by Tenant, Tenant shall deposit with Landlord the sum of Four Thousand Three Hundred SeventyTwenty thousand three hundred sixty-Eight one and 50/100 83/100 Dollars ($4,378.50)20,361.83) as, as a deposit of the first month’s Base Rent (the “Advance Deposit”), which Which shall be applied by Landlord on behalf of the Tenant to the payment of the first month’s Base Rent when due and payable. The Advance Deposit, prior to its being applied to the payment of Monthly monthly Base Rent, shall Shall constitute security for the payment and performance by Tenant of all of Tenant’s obligations, :covenants, conditions and agreements under this Lease, but shall not be deemed liquidated damages, but shall be applied in reduction of Tenant’s total obligation(s) to Landlord.

Advance Deposit. Simultaneously In addition, simultaneously with the execution of this Lease by Tenant, Tenant shall deposit with Landlord the sum of Four Thousand Three Hundred SeventyTwenty thousand three hundred sixty-Eight one and 50/100 83/100 Dollars ($4,378.50), 20,361.83) as a deposit of the first month’s Base Rent (the “Advance Deposit”), which Which shall be applied by Landlord on behalf of the Tenant to the payment of the first month’s Base Rent when due and payable. The Advance Deposit, prior to its being applied to the payment of Monthly monthly Base Rent, shall Shall constitute security for the payment and performance by Tenant of all of Tenant’s obligations, :covenants, conditions and agreements under this Lease, but shall not be deemed liquidated damages, but shall be applied in reduction of Tenant’s total _obligation(s) to Landlord.