Common use of Your Deposit Clause in Contracts

Your Deposit. (if applicable) The provisions of this clause 0 shall only apply if your Booking Details state that a Deposit is payable. In this clause 0, "Deposit" means the deposit for the amount stated in the Booking Details and which will be used as security for the performance of your obligations as specified in the Tenancy Agreement. You agree and acknowledged that the Deposit paid to us by you is paid to us as security for the performance of your obligations under the Tenancy Agreement. At the end of the Length of Stay, you will be given the opportunity to attend a check-out inspection with one of our representatives with a view to reaching agreement as to what, if any, deductions we will be entitled to make from the Deposit. However, we reserve the right to give you notice of our intention to draw on the Deposit at any time in payment of any sums due from or spent on behalf of you under the Tenancy Agreement. Where applicable, the Deposit, or the relevant amount of the Deposit will be refunded to the person who originally paid it (unless this is no longer possible in which case payment will be made to you). For the avoidance of doubt, any Deposit paid to any group company of The UNITE Group plc may be used towards any outstanding charge or debt on any other booking with us or any other company which is a Group Company of The UNITE Group plc for any Academic Year. You will not off-set the Deposit against any payment of Rent or other sums due to us under the Tenancy Agreement. We agree that the Deposit shall be protected by an approved tenancy deposit scheme provider in accordance with the rules of the Tenancy Deposit Protection Scheme. Confirmation that your Deposit has been protected will be sent to you within the required timescale.