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 Monthly Rent exceeds the initial Monthly Rent as determined under Paragraph 5.A above, then Landlord shall refund to Tenant, within thirty (30) ------------- days after the Rent Establishment Date, any overpayment of the Security Deposit. If as of the Rent Establishment Date the Estimated Monthly Rent is less than the initial Monthly Rent as determined under Paragraph 5.A above, then Tenant shall ------------- increase the Security Deposit by paying the deficiency in the Security Deposit to Landlord within thirty (30) days after the Rent Establishment Date. For the purposes of this Lease, the term "Security Deposit" shall include the initial sum deposited by Tenant as the Security Deposit and any other sum deposited by Tenant as the Security Deposit and any other sum deposited by Tenant towards the Security Deposit pursuant to this Paragraph 7.