Common use of Deposits and Advances Clause in Contracts

Deposits and Advances. Any funds transferred by Tenant to Landlord as a deposit or advance pursuant to the terms of this Lease, or any exhibit, addendum or modification hereto, may be commingled with other funds of Landlord and need not be placed in trust, deposited in escrow or otherwise held in a segregated account. In addition, if any sum or sums of money shall become payable by Tenant to Landlord pursuant to the terms of this Lease, or any exhibit, addendum or modification hereto, or by any law, ordinance or regulation affecting this Lease, Landlord shall have the right to apply any deposits or advances theretofore made by Tenant against such sums due by Tenant to Landlord.

Appears in 2 contracts

Sources: Lease Agreement (Dnaprint Genomics Inc), Lease Agreement (MST Enterprises Inc)

Deposits and Advances. Any funds transferred paid by Tenant to Landlord as a deposit or advance pursuant to the terms of this Leaselease, or any exhibit, addendum or modification hereto, may be commingled with other funds of Landlord and need not be placed in trust, deposited in escrow or otherwise held in a segregated account. In addition, addition if any sum or sums of money shall become payable by Tenant to Landlord pursuant to the terms of this Leaseagreement, or any exhibit, addendum or modification hereto, or by any a law, ordinance or regulation affecting this Leaseagreement, Landlord shall have the right to apply any deposits or advances theretofore made by Tenant against such sums due by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Admiralty Bancorp Inc)