RETENTION OF REPLACED DEPOSIT Clause Samples

The 'Retention of Replaced Deposit' clause establishes the right of a party, typically a landlord, to retain a security deposit even after it has been replaced or substituted by the tenant. In practice, this means that if a tenant provides a new deposit or form of security, the landlord may continue to hold the original deposit until certain conditions are met, such as the fulfillment of all lease obligations or the resolution of outstanding claims. This clause serves to protect the landlord by ensuring that they maintain adequate security against potential breaches or damages, thereby minimizing financial risk during transitions or changes in deposit arrangements.
RETENTION OF REPLACED DEPOSIT. Holder will destroy any replaced Deposit unless HP instructs Holder to retain it within twenty (20) days of notice from Holder of such replacement. Retention of the replaced Deposit may incur an additional fee, as specified in Holder's fee schedule.
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RETENTION OF REPLACED DEPOSIT. Escrow Agent will retain any replaced Deposit (including any replacement of a portion of the Deposit) unless Escrow Agent has been instructed by Symantec within 10 business days of notice from Escrow Agent to destroy it. Retention of the replaced Deposit may result in an additional fee, as specified in Escrow Agent's fee schedule, to be paid by Symantec.
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RETENTION OF REPLACED DEPOSIT. Holder will also retain all existing and supplanted Deposit materials for the benefit of Licensee and Licensor.
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  • Terms of Repayment An interest-only payment within six months after the estimated Project Completion Date set forth in ARTICLE 3(A)(10) and thereafter semi-annual payments of principal and interest in accordance with APPENDIX A and ARTICLE 2(F) of this Agreement.

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