Common use of Refundable Security Deposit Clause in Contracts

Refundable Security Deposit. GDSPL may require the Operator to pay an amount of Rs. 2,500/-, or such amount as may be determined by SUN from time to time, for each digital satellite receivers/integrated receiver decoder provided by GDSPL to the Operator under this Agreement. Such refundable security deposit amount shall be refunded by GDSPL to the Operator upon expiry or earlier termination of the Agreement, subject to the Operator returning the digital satellite receivers/integrated receiver decoder in perfect working condition (reasonable wear and tear acceptable) and also subject to GDSPL setting off the refundable security deposit amount, or part thereof, with any amount receivable by GDSPL from the Operator on such date of expiry or termination of the Agreement.