Interest on Security Deposit Clause Samples

Interest on Security Deposit. The Tenant acknowledges and agrees that if the Managing Agent holds the Security Deposit or any additional deposit(s), that Managing Agent may from time to time receive income generated from placement of Tenant’s Security Deposit and /Additional Deposit(s) in an interest bearing escrow account and such interest shall accrue to the benefit of Managing Agent, and neither Landlord nor Tenant shall make any claims thereto.

Interest on Security Deposit. In accordance with all applicable statutes, Landlord will pay Tenant interest on Tenant's security deposit, less any service fee charged by the bank or investment company.

Interest on Security Deposit. (a) Where we have received a security deposit from you, we will pay interest, if any, to you, on the deposit at the contract interest rate. (b) Any interest accrued on the security deposit will be credited to your account when the security deposit is returned to you.

Interest on Security Deposit. In accordance with Pennsylvania law, and subject to the exception set forth in this Paragraph, such deposit shall be returned to Tenant, without interest, and less any set off for utility bills, fees and damages to the Premises upon the termination of this Agreement. Landlord will only pay interest to Tenant if both of the following two (2) conditions are met: (i) Landlord requires a security deposit in excess of $100, and (ii) the Tenant has rented from Landlord for twenty-four (24) months. If both conditions are met, then starting on the twenty-fiNh (25) month of Tenant's Lease, Landlord will pay Tenant interest on Tenant's security deposit, less a 1% administrative fee, to be paid annually on the date of Tenant's Lease.

Interest on Security Deposit. Tenant is not entitled to any interest on the Security Deposit.

Interest on Security Deposit. The Lender shall pay interest at the rate specified in schedule 1 on the Security Deposit placed by the Borrower(s), Guarantor(s) with the Lender, this interest shall be paid to the Borrower(s)/Guarantor(s) at the time of end of the tenure of this Agreement. However, in the event of early termination or prepayment, the Lender shall not be liable to apy interest at the stipulated rate of interest on the Security Deposit but shall pay interest at such rate as the Lender may its sole discretion determine.

Interest on Security Deposit. In accordance with Pennsylvania law, and subject to the exception set forth in this Paragraph, such deposit shall be returned to Tenant, without interest, and less any set off for damages to the Premises upon the termination of this Agreement. Landlord will only pay interest to Tenant if both of the following two (2) conditions are met: (i) Landlord requires a security deposit in excess of $100, and (ii) the Tenant has rented from Landlord for twenty-four

Interest on Security Deposit. If the Rail Operator provides a Security Deposit to RailCorp in accordance with this clause 20: (a) as soon as practicable after receipt of the Security Deposit, RailCorp must invest the Security Deposit in an interest bearing bank account; and (b) subject to clause 20.4, any interest earned from the Security Deposit (after deduction of any bank fees and expenses incurred by RailCorp in connection with the establishment and maintenance of the bank account) must be paid to the Rail Operator at the same time as the Security Deposit is repaid to the Rail Operator in accordance with clause 20.5.

Interest on Security Deposit. Landlord may elect to either commingle the Security Deposit in its general accounts or deposit the Security Deposit in an interest-bearing demand account at a national bank of its choice. In the event Landlord elects to deposit the Security Deposit in a national bank of Landlord's choice, interest shall be credited to Tenant and added to the Security Deposit in an amount equal to the actual interest earned on that account, less Landlord's good faith estimate of the income taxes payable by Landlord on those earnings at Landlord's highest marginal rate. If Landlord elects to hold the Security Deposit in its own accounts commingled with its funds, Landlord shall credit Tenant with imputed interest on the Security Deposit at a rate equal to the rate being paid by a national bank selected by Landlord on demand deposits of like amounts, less Landlord's good faith estimate of the income taxes to be payable on that amount of interest at Landlord's highest marginal rate. If Landlord elects to deposit the Security Deposit in a national bank, that deposit shall be at Tenant's sole risk and Landlord shall have no liability for the return of the Security Deposit to Tenant to the extent any failure of that bank results in a loss of all or any portion of that deposit." (i) If the Net Worth Trigger Event has occurred and Tenant has elected to provide Landlord with a letter of credit in lieu of a cash security deposit as provided in Section 7(d), above, Article 37 is amended and restated in its entirety to read as provided in Exhibit B attached hereto. (j) If the Net Worth Trigger Event does not occur, thereafter Article 37 is deleted and of no effect in the Direct Lease. (k) The following provisions of the Lease are deleted and inapplicable to the Direct Lease: Section 3.1(b), Section 3.2, Section 4.1(b), Section 5.4, Article 33, Article 34, and Exhibit C. (l) If the Net Worth Trigger Event occurs, Subtenant's failure to deliver either the cash security deposit in the Security Amount or the letter of credit as required by Article 37 within fifteen (15) days after the occurrence of the Net Worth Trigger Event shall be an Event of Default under the Direct Lease without additional notice or opportunity to cure. If Subtenant initially delivers a cash security deposit in the Security Amount within that fifteen (15) day period, Tenant may at any time within ninety (90) days thereafter substitute a Letter of Credit in the Security Amount for that cash security deposit so long as...