Prepaid Rent and Security Deposit Sample Clauses

Prepaid Rent and Security Deposit. Prepaid rent and a security deposit in the amounts set forth in the Summary shall be delivered by Tenant to Landlord at the time the Lease is executed. The Landlord shall retain the security deposit as security for Tenant’s performance of all the covenants, conditions and agreements of this Lease. In no event shall the Landlord be obliged to apply the security deposit upon rents or other charges in arrears or upon damages for the Tenant’s failure to perform such covenants, conditions, and agreements; the Landlord may so apply the security deposit, at its option toward any obligation of Tenant to Landlord; and the Landlord’s right to the possession of the Premises for nonpayment of rents or for other reasons shall not in any event be affected by reason of the fact that the Landlord holds the security deposit. If all or part of the security deposit is applied toward the payment of rents in arrears or toward the payment of damages suffered by the Landlord by reason of the Tenant’s default under this Lease, then Tenant shall restore the security deposit to its full original balance within five days after written notice from Landlord, which notice shall state the items to which the security deposit has been applied. If not so applied, the security deposit is to be returned to Tenant without interest when this Lease is terminated, according to these terms, and in no event is the security deposit to be returned until Tenant has vacated the Premises and delivered possession to the Landlord in compliance with this Lease. In the event that the Landlord repossesses the Premises because of the Tenant’s default or because of the Tenant’s failure to carry out the covenants, conditions, and agreements of this Lease, Landlord may apply the security deposit toward damages as may be suffered or shall accrue by reason of the Tenant’s default or breach. In the event of bankruptcy or other debtor-creditor proceedings by or against Tenant, the security deposit shall be deemed to be applied first to the payment of rents and other charges due Landlord for the earliest possible periods prior to the filing of such proceedings which would not cause the payments to be recoverable by the bankruptcy trustee or debtor in possession as a preferential transfer. The Landlord shall not be obliged to keep the security deposit as a separate fund, but may mix it with its own funds. Landlord may deliver the security deposit to the purchaser or assignee of Landlord’s interest in the Premises and...

Prepaid Rent and Security Deposit. Tenant shall deposit with Landlord on the date Tenant executes and delivers this Lease the cash sums set forth in the Schedule for both Prepaid Rent and Security Deposit (collectively, the “Lease Deposit”). The Prepaid Rent shall be applied by Landlord as set forth in Section 2.1(a) above. The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all its obligations under this Lease.

Prepaid Rent and Security Deposit. 6.1 Upon execution of this Lease, Tenant shall pay to landlord the First Months Rent. The Security Deposit set forth in Section 1 shall not be due until the first day of year five (5) of this Lease (the Prepaid Rent and the Security Deposit being collectively referred to as the "Deposit"). 6.2 Landlord shall have the right to all or any of the Deposit to cure any Default by Tenant under this Lease or to compensate Landlord for any damage sustained by it resulting from such Default. In the event of any such application of the Deposit, Tenant shall, on demand, immediately pay to Landlord the amount necessary to replenish the Deposit to the amount set forth in Section 1. The Security Deposit will not be used to remove the approved Tenant Improvements. 6.3 If Tenant is not in Default at the expiration or termination of this Lease, Landlord shall return the remaining Security Deposit to Tenant, less any amounts necessary to return the Premises and the approved Tenant Improvements to their original condition, reasonable wear and tear excepted. Approved Tenant Improvements will not need to be removed from the Premises pursuant to Section 1A.1.2 above). 6.4 In the event this Lease is terminated before the end of the Term for any reason, any Rent paid for any period after the date of such termination shall be treated as an addition to the Security Deposit. 6.5 Landlord's obligations with respect to the Security Deposit are those of a debtor and not a trustee. Landlord may maintain the security deposit separate from Landlord's general funds or may commingle the Security Deposit with other funds of Landlord. No interest shall accrue for Tenant on the Deposit.

Prepaid Rent and Security Deposit. On the Effective Date, Tenant shall pay to Landlord prepaid rent for the Additional Space in the sum of $103,162.35 plus Landlord’s estimate of one (1) month of Operating Expenses for the Additional Space, and the sum of $142,800.75 as a cash Security Deposit to be held and applied pursuant to Section 21.2 of the Lease.

Prepaid Rent and Security Deposit. Prior to execution of this Lease, Tenant has deposited with Landlord the prepaid Base Monthly Rent, the prepaid Additional Rent, and the security deposit included in the total deposit identified in Section 1.o. This money represents the following:

Prepaid Rent and Security Deposit. Upon the signing of this lease, Tenant shall pay to Landlord One Hundred Thousand Dollars ($100,000.00), representing a security deposit as security for Tenant’s full performance of all terms and conditions under this Lease. Upon the Substantial Completion Date, the Tenant shall pay to Landlord an additional One Hundred Thousand Dollars ($100,000.00), representing additional security for Tenant’s full performance of all terms and conditions under this Lease (collectively, the “Security Deposit”). Upon the exercise of the outstanding warrants that will raise approximately $90,000,000 or achievement of $4,000,000 in sales revenue, whichever event comes first, the Security Deposit shall be reduced to One Hundred Thousand Dollars ($100,000). Upon default by Tenant hereunder, the Landlord shall have the right, without the giving of any notice, to apply all or any portion of the Security Deposit to cure such default which right shall be in addition to all other rights and remedies. Within thirty (30) days of the later to occur of the last day of the Lease Term or the date that Tenant yields up the Leased Premises pursuant to the terms of this Lease, Landlord shall return to Tenant the Security Deposit less any amounts which Landlord may have deducted pursuant to the terms of this Lease.

Prepaid Rent and Security Deposit. Upon execution of this Lease, Tenant shall pay to Landlord the Prepaid Rent set forth in Section 1 which shall be applied to the first full month's Base Monthly Rent falling due hereunder. Within two (2) business days after Tenant's execution of this Lease, Tenant shall provide an irrevocable, fully assignable, and unconditional standby letter of credit, issued by Imperial Bank (including any successor by merger or consolidation that acquires substantially all of Imperial Bank's assets) or another financial institution reasonably acceptable to Landlord (and otherwise meeting the criteria set forth herein) and with a term of at least one (1) year with automatic renewal provisions, drawable by Landlord upon demand, and substantially in the form attached hereto as Exhibit B (the "Letter of Credit") in an amount equal to One Million Two Hundred Fifty Thousand Dollars ($1,250,000), as security for the full and faithful performance of Tenant's obligations under this Lease (the "Security Deposit"). Landlord may draw upon the Letter of Credit in whole or in part under the same terms and conditions as Landlord may apply a cash security deposit as provided in Section 6.3

Prepaid Rent and Security Deposit. Upon execution of this Lease, Tenant shall deposit with Landlord the sum of $29,000.00 (the "Deposit") as prepaid rent and a security deposit. The Deposit shall be allocated as follows:

Prepaid Rent and Security Deposit. Upon acceptance of this Lease Contract by all parties, Tenant will deposit with the Landlord the sum of $23,910.42, representing the first two (2) full calendar months rent. Upon written request by Landlord during the one hundred seventh (117th) month of the Lease Term, Tenant shall pay to Landlord the amount of $13,202.71 which shall be held as a Security Deposit. No interest shall be paid on the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts and no trust relationship is created with respect to the Security Deposit. Upon any termination of this Lease, Landlord shall refund the unused portion of the Security Deposit to Tenant within thirty (30) days after the expiration of this Lease.