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, an amount equal to three (3) payments of the Estimated Monthly Rent under this Lease, as the "Security Deposit" for the full and faithful performance of every provision of this Lease to be performed by Tenant. Effective as of the Rent Establishment Date, the Security Deposit shall be adjusted (if necessary) to equal three (3) payments of the initial Monthly Rent under this Lease. If as of the Rent Establishment Date the Estimated