Common use of Deposit Required Clause in Contracts

Deposit Required. Tenant shall deposit with Landlord upon the execution of this Lease by Landlord and Tenant, the sum of Four Hundred Ninety-Seven Thousand Five Hundred Thirty-Eight and 00/100 Dollars ($497,538.00) (i.e., an amount equal to four (4) installments of Monthly Rent) as the "SECURITY DEPOSIT" for the full and faithful performance of every provision of this Lease to be performed by Tenant. At Tenant's option, the Security Deposit may be in the form of an irrevocable standby letter of credit ("L-C"). Landlord shall not be required to segregate the Security Deposit from Landlord's general funds; Landlord's obligations with respect to the Security Deposit shall be those of a debtor and not a trustee, and Tenant shall not be entitled to any interest on the Security Deposit. Invocation by Landlord of its rights hereunder shall not constitute a waiver of nor relieve Tenant from any liability or obligation for any default by Tenant under this Lease.

Deposit Required. Tenant shall deposit with Landlord upon the execution of this Lease by Landlord and Tenant, the sum of Four Hundred Ninety-Seven Thousand Five Hundred Thirty-Eight and 00/100 Dollars ($497,538.00) (i.e., an amount equal to four (4) installments of Monthly Rent) as the "SECURITY DEPOSIT" for the full and faithful performance of every provision of this Lease to be performed by Tenant. At Tenant's option, the Security Deposit may be in the form of an irrevocable standby letter of credit ("L-C"). ) Landlord shall not be required to segregate the Security Deposit from Landlord's general funds; Landlord's obligations with respect to the Security Deposit shall be those of a debtor and not a trustee, and Tenant shall not be entitled to any interest on the Security Deposit. Invocation by Landlord of its rights hereunder shall not constitute a waiver of nor relieve Tenant from any liability or obligation for any default by Tenant under this Lease.

Deposit Required. Tenant shall deposit with Landlord upon the execution of this Lease by Landlord and Tenant, the sum of Four Seven Hundred Ninety-Seven Three Thousand Five Eight Hundred Thirty-Eight and 00/100 Dollars ($497,538.00793,800.00) (i.e., an amount equal to four nine (49) installments of Monthly Rent) as the "“SECURITY DEPOSIT" ” for the full and faithful performance of every provision of this Lease to be performed by Tenant. At Tenant's ’s option, the Security Deposit may be in the form of an irrevocable standby letter of credit ("“L-C"”). Landlord shall not be required to segregate the Security Deposit from Landlord's ’s general funds; Landlord's ’s obligations with respect to the Security Deposit shall be those of a debtor and not a trustee, and Tenant shall not be entitled to any interest on the Security Deposit. Invocation by Landlord of its rights hereunder shall not constitute a waiver of nor relieve Tenant from any liability or obligation for any default by Tenant under this Lease.