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Tenant Deposits
Tenant Deposits contract clause examples

Tenant Deposits. All refundable tenant security deposits required to be held by a Seller under a Lease (and interest thereon if required by law or contract to be earned thereon) and not theretofore lawfully applied to tenant obligations under the Leases of the Property that is the subject of such Closing shall be transferred or credited to Purchaser at such Closing or placed in escrow if required by law. As of such Closing, Purchaser shall assume the applicable Seller’s obligations related to tenant security deposits to the extent of the actual security deposits transferred or credited to Purchaser at such Closing. Seller shall cause any non-cash security deposits, including any letters of credit, to be assigned to Purchaser as of the Closing Date, provided that with respect to any letters of credit that are transferable by their terms, Seller (at its reasonable expense, unless payable by the applicable Tenant under its Lease) may deliver to Purchaser at the applicable Closing the fully executed (with signatures notarized or signatures guaranteed as required by the issuer of the letter of credit) forms necessary to effect such assignment. Purchaser will indemnify, defend, and hold such Seller harmless from and against all loss, cost, damages (including reasonable attorneys’ fees) suffered by such Seller arising from Purchaser’s failure to return any Tenant Security Deposit actually received by Purchaser, in accordance with the terms of the applicable lease agreement, and such indemnity shall survive each Closing.

Tenant Deposits. All tenant security deposits held by Seller and not theretofore applied to tenant obligations under the Leases shall be transferred or credited to Purchaser at Closing or placed in escrow if required by law. As of the Closing, Purchaser shall assume Seller’s obligations related to tenant security deposits. Purchaser will indemnify, defend, and hold Seller and any Seller Related Parties harmless from and against all demands and claims made by tenants arising out of the transfer or disposition of any security deposits and will reimburse any such indemnitee for all attorneys’ fees incurred or that may be incurred as a result of any such claims or demands as well as for all loss, expenses, verdicts, judgments, settlements, interest, costs and other expenses incurred or that may be incurred by any such indemnitee as a result of any such claims or demands by tenants.

Deposits. Deposits made by the Company to the Sub-Trust pursuant to Section 1 of this Trust Agreement;

Tenant Deposits. Attached hereto as [Schedule 8(f)] is a schedule of all cash and letter of credit security deposits and other deposits being held by Seller with respect to the Leases. Purchaser shall be credited and Seller shall be debited with an amount equal to all cash tenant deposits being held by Seller or any other person pursuant to any of the Leases. In the event there is any letter of credit being held as security, Seller shall cause such letter of credit to be assigned to Purchaser at Closing.

Deposits. You acknowledge that it is your responsibility alone to determine whether to make a Deposit, when to make a Deposit and the amount of any Deposit. When you submit a Deposit, we will transmit Deposit allocation instructions in accordance with the table below.

Deposits. You acknowledge that it is your responsibility alone to determine whether to make a premium payment (for purposes of this Agreement, premium payments may also be referred to as “Deposits”), when to make a premium payment and the amount of any premium payment. Because of these factors, we will not provide regular premium payment reminders. You may refer to the nonqualified Plan Sponsor website or to your designated nonqualified client service representative for specific payment options and information.

Tenant Deposits. At Closing, Buyer will receive a credit for all deposits (including any applicable interest required by applicable law or agreement) and other prepaid items then held by or for Seller under each Lease. Buyer or Buyer’s property manager will provide any required notices to tenant or other third-party as may be required under applicable law.

Deposits. The Employer in its sole discretion, may at any time, or from time to time, make additional deposits of cash or other property in trust with the Trustee to augment the principal to be held, administered and disposed of by the Trustee as provided in this Agreement. Neither the Trustee nor any Plan participant or beneficiary shall have the right to compel such deposits.

Security Deposits. Purchaser shall receive a credit at Closing for all Security Deposits (and any interest thereon required to be reimbursed to any tenant) pursuant to the Lease or pursuant to applicable law. Seller agrees to and does hereby indemnify, defend and hold Purchaser harmless from and against any liability or expense incurred by Purchaser by reason of any Security Deposit (and interest thereon, if required by law) actually collected by Seller and not actually paid (or credited) to Purchaser at the Closing. Purchaser agrees to and does hereby indemnify and hold Seller harmless from and against any liability or expense incurred by Seller by reason of any Security Deposit (and interest thereon, if required by law) which is paid (or credited) to Purchaser at the Closing and which Purchaser does not properly refund to the Tenant. The provisions of this Section 5.4(d) shall survive the Closing.

Security Deposits. Borrowers shall deposit any cash security deposits of Tenants under Leases that are turned over to or for the benefit of any Borrower or otherwise collected by or on behalf of any Borrower, into a separate account maintained with a reputable financial institution in compliance with applicable Legal Requirements, and Borrowers shall not commingle such funds with any funds of any Borrower. Any letter of credit or other instrument that Borrowers are permitted to hold in lieu of cash security deposits under any applicable Legal Requirements # shall be maintained in full force and effect unless replaced by cash deposits as hereinabove described (or unless applied pursuant to the terms of the applicable Lease), # if permitted pursuant to Legal Requirements, shall name Administrative Agent on behalf of Lender as payee or mortgagee thereunder (or at Administrative Agent’s option, be fully assignable to Administrative Agent) and # shall comply with all applicable Legal Requirements and otherwise be reasonably satisfactory to Administrative Agent. Borrowers shall, upon request, provide Administrative Agent with evidence reasonably satisfactory to Administrative Agent of Borrowers’ compliance with the foregoing. Upon the occurrence and during the continuance of any Event of Default, Borrowers shall, upon Administrative Agent’s request, if permitted by applicable Legal Requirements, # assign to Administrative Agent any such letter of credit security deposits (or cause such letter of credit security deposits to be re-issued in favor of Administrative Agent) and # turn over to Administrative Agent all other security deposits (and any interest theretofore earned thereon), in each case, to be held by Administrative Agent subject to the terms of the Leases.

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