Common use of Use and Disposition Clause in Contracts

Use and Disposition. If an event of default occurs, Landlord may use, apply or retain the whole or any part of the Security Deposit to the extent required for the payment of any Basic Rent, Additional Rent or any other sum as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant's default in respect of any of the terms, covenants or conditions of this Lease, including but not limited to any damages or deficiency accruing before or after summary proceedings or other re-entry by Landlord. In the event that Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit shall be returned to Tenant without interest within thirty (30) days after the Termination Date and after delivery of possession of the entire Premises to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Tellium Inc)

Use and Disposition. If an event Event of default Default occurs, Landlord may use, apply or retain the whole or any part of the Security Deposit to the extent required for the payment of any Basic Rent, Additional Rent or any other sum as to which Tenant is in default or for any sum which Landlord 12 may expend or may be required to expend by reason of Tenant's default in respect of any of the terms, covenants or conditions of this Leaselease, including but not limited to to, any damages or deficiency accruing before or after summary proceedings or other re-entry by Landlord. In the event that Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of this Lease, the Security Deposit shall be returned to Tenant without interest within thirty (30) days after the Termination Date and after delivery of possession of the entire Premises to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Optical Systems Inc)